Leases (Tables)

3 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Lease Cost

The components of lease cost for the three months ended September 30, 2023 and October 1, 2022 were (in thousands): 

Lease cost	Classification	September 30, 2023		October 1, 2022
Operating lease cost	Cost of sales	$	1,126	$	1,334
Operating lease cost	Selling, general and administrative expenses	$	184	$	184
Financing lease cost	Cost of sales	$	1,279	$	900
Financing lease cost	Selling, general and administrative expenses	$	55	$	38
Total lease cost		$	2,644	$	2,456
Fixed lease cost		$	1,547	$	2,221
Short-term lease cost		$	1,097	$	235
Total lease cost		$	2,644	$	2,456

Schedule of Lease Assets and Liabilities

Amounts reported in the Consolidated Balance Sheet as of September 30, 2023 were (in thousands, except weighted average lease term and discount rate):

	September 30, 2023
Operating Leases:
Operating lease right of use assets	$	15,928
Operating lease liabilities (1)	$	15,928
Weighted-average remaining lease term (in years)
Operating leases	4.52
Weighted-average discount rate
Operating leases	4.2%
Financing Leases (2):
Financing lease right of use assets	$	5,952
Financing lease liabilities	$	4,511
Weighted-average remaining lease term (in years)
Financing leases	1.64
Weighted-average discount rate
Financing leases	10.6%

(1) The current portion of the total operating lease liabilities of $5.0 million is classified under Other Current Liabilities, resulting in $10.9 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet.

(2) The total finance lease right of use assets of $6.0 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $3.3 million is classified under Current portion of debt, net, resulting in $1.2 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet.

Other information related to leases was as follows (in thousands):

	Three Months Ended
	September 30, 2023		October 1, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,528	$	1,847
Financing cash flows used in financing leases	$	1,326	$	1,022

Schedule of Maturities of Operating Leases Liability

Future lease payments under non-cancellable leases as of September 30, 2023 are as follows (in thousands):

Fiscal Years Ending	Operating Leases		Finance Leases
2024 (1)	$	3,895	$	2,552
2025	$	4,186	$	1,909
2026	$	3,472	$	501
2027	$	2,536	$	—
2028	$	1,551	$	—
Thereafter	$	1,689	$	—
Total undiscounted lease payments	$	17,329	$	4,962
Less: present value discount	$	(1,401)	$	(451)
Total lease liabilities	$	15,928	$	4,511

(1) Represents estimated lease payments for the remaining nine-month period ending June 29, 2024.

Schedule of Maturities of Finance Leases Liability

Future lease payments under non-cancellable leases as of September 30, 2023 are as follows (in thousands):

Fiscal Years Ending	Operating Leases		Finance Leases
2024 (1)	$	3,895	$	2,552
2025	$	4,186	$	1,909
2026	$	3,472	$	501
2027	$	2,536	$	—
2028	$	1,551	$	—
Thereafter	$	1,689	$	—
Total undiscounted lease payments	$	17,329	$	4,962
Less: present value discount	$	(1,401)	$	(451)
Total lease liabilities	$	15,928	$	4,511

(1) Represents estimated lease payments for the remaining nine-month period ending June 29, 2024.