Leases (Tables)

9 Months Ended

Mar. 30, 2024

The components of lease cost for the three months and nine months ended March 30, 2024 and were (in thousands):


		Three Months Ended				Nine Months Ended
		March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Lease cost	Classification
Operating lease cost	Cost of sales	$	1,199	$	962	$	3,548	$	3,402
Operating lease cost	Selling, general and administrative expenses	$	184	$	187	$	551	$	554

Financing lease cost	Cost of sales	$	1,129	$	1,062	$	3,594	$	2,922
Financing lease cost	Selling, general and administrative expenses	$	51	$	40	$	155	$	117

Total lease cost		$	2,563	$	2,251	$	7,848	$	6,995

Fixed lease cost		$	1,331	$	1,956	$	4,657	$	6,156
Short-term lease cost		$	1,232	$	295	$	3,191	$	839
Total lease cost		$	2,563	$	2,251	$	7,848	$	6,995

Schedule of Lease Assets and Liabilities

Amounts reported in the Consolidated Balance Sheet as of March 30, 2024 were (in thousands, except weighted average lease term and discount rate):


	March 30, 2024		July 1, 2023
Operating Leases:
Operating lease right of use assets	$	16,790	$	16,202
Operating lease liabilities (1)	$	16,790	$	16,202

Weighted-average remaining lease term (in years)
Operating leases	4.25		4.55

Weighted-average discount rate
Operating leases	4.25%		4.00%

Financing Leases (2):
Financing lease right of use assets	$	4,610	$	9,718
Financing lease liabilities	$	3,170	$	8,278

Weighted-average remaining lease term (in years)
Financing leases	1.23		1.89

Weighted-average discount rate
Financing leases	10.88%		9.96%

(1) The current portion of the total operating lease liabilities of $5.4 million is classified under Other Current Liabilities, resulting in $11.4 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 $4.6 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $2.8 million is classified under Current portion of debt, net, resulting in $0.3 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet.

Schedule of Maturities of Operating Leases Liability

Future lease payments under non-cancellable leases as of March 30, 2024 are as follows (in thousands):


Fiscal Years Ending	Operating Leases		Finance Leases
2024 (1)	$	1,529	$	1,112
2025	$	5,104	$	1,909
2026	$	4,147	$	501
2027	$	3,238	$	—
2028	$	2,281	$	—
Thereafter	$	1,873	$	—
Total undiscounted lease payments	$	18,172	$	3,522
Less: present value discount	$	(1,382)	$	(352)
Total lease liabilities	$	16,790	$	3,170

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

Schedule of Maturities of Finance Leases Liability

Future lease payments under non-cancellable leases as of March 30, 2024 are as follows (in thousands):


Fiscal Years Ending	Operating Leases		Finance Leases
2024 (1)	$	1,529	$	1,112
2025	$	5,104	$	1,909
2026	$	4,147	$	501
2027	$	3,238	$	—
2028	$	2,281	$	—
Thereafter	$	1,873	$	—
Total undiscounted lease payments	$	18,172	$	3,522
Less: present value discount	$	(1,382)	$	(352)
Total lease liabilities	$	16,790	$	3,170

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