Leases (Tables)

3 Months Ended

Mar. 30, 2025

Leases [Abstract]

Balance Sheet Information, Lessee

The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of March 30, 2025 and December 29, 2024:

	March 30, 2025				December 29, 2024
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
	(in thousands)
Operating lease right-of-use assets	$	77,845			$	76,815
Current portion of operating lease liabilities	$	12,718			$	12,296
Operating lease liabilities	69,160				68,092
Total operating lease liabilities	$	81,878			$	80,388
Property, plant and equipment, net			$	8,034			$	8,079
Accrued expenses			$	2,658			$	2,657
Other long-term liabilities			5,757				5,797
Total finance lease liabilities			$	8,415			$	8,454

Schedule of Lease Costs

Lease Costs

	Three Months Ended
	March 30, 2025		March 31, 2024
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	848	$	776
Interest on lease liabilities	137		99
Operating lease cost	4,993		4,989
Short-term lease cost	171		197
Variable lease cost	773		690
Total lease cost	$	6,922	$	6,751

Other Supplemental Information, Lessee

Other Supplemental Information

	Three Months Ended
	March 30, 2025		March 31, 2024
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	131	$	96
Operating cash flows from operating leases	4,437		4,097
Financing cash flows from finance leases	762		716
Right-of-use assets obtained in exchange for new finance lease liabilities	548		390
Right-of-use assets obtained in exchange for new operating lease liabilities	2,929		265

Weighted Average Lease Term and Discount Rate, Lessee

The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of March 30, 2025 and December 29, 2024:

	March 30, 2025		December 29, 2024
Weighted-average remaining lease term – finance leases (in years)	3.61		3.61
Weighted-average remaining lease term – operating leases (in years)	7.57		7.68
Weighted-average discount rate – finance leases	6.54	%	6.44	%
Weighted-average discount rate – operating leases	6.41	%	6.39	%

Lease Liability Maturity Schedule

A maturity analysis of lease payments under non-cancellable leases is presented as follows:

Fiscal Year	Operating Leases		Finance Leases
	(in thousands)
2025 (excluding the three months ended March 30, 2025)	$	13,018	$	2,379
2026	17,593		2,784
2027	14,658		2,159
2028	11,669		1,267
2029	10,060		607
Thereafter	37,213		276
Total future minimum lease payments (undiscounted)	104,211		9,472
Less: Present value discount	(22,333)		(1,057)
Total lease liabilities	$	81,878	$	8,415

Lease Liability Maturity Schedule

A maturity analysis of lease payments under non-cancellable leases is presented as follows:

Fiscal Year	Operating Leases		Finance Leases
	(in thousands)
2025 (excluding the three months ended March 30, 2025)	$	13,018	$	2,379
2026	17,593		2,784
2027	14,658		2,159
2028	11,669		1,267
2029	10,060		607
Thereafter	37,213		276
Total future minimum lease payments (undiscounted)	104,211		9,472
Less: Present value discount	(22,333)		(1,057)
Total lease liabilities	$	81,878	$	8,415