XML 42 R29.htm IDEA: XBRL DOCUMENT v3.25.1
Leases (Tables)
9 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Schedule of Lease Cost
The components of lease cost for the three months and nine months ended March 29, 2025 and March 30, 2024 were (in thousands): 
Three Months EndedNine Months Ended
March 29, 2025March 30, 2024March 29, 2025March 30, 2024
Lease costClassification
Operating lease costCost of sales$654 $1,199 $2,827 $3,548 
Operating lease costSelling, general and administrative expenses$33 $184 $132 $551 
Financing lease costCost of sales$1,268 $1,129 $3,868 $3,594 
Financing lease costSelling, general and administrative expenses$183 $51 $549 $155 
Total lease cost$2,138 $2,563 $7,376 $7,848 
Fixed lease cost$1,078 $1,331 $4,936 $4,657 
Short-term lease cost 1,060 1,232 $2,440 $3,191 
Total lease cost$2,138 $2,563 $7,376 $7,848 
Schedule of Lease Assets and Liabilities
Amounts reported in the Consolidated Balance Sheet as of March 29, 2025 and June 29, 2024 were (in thousands, except weighted average lease term and discount rate):
March 29, 2025June 29, 2024
Operating Leases:
Operating lease right of use assets$12,592 $15,416
Operating lease liabilities (1)
$12,592 $15,416
Weighted-average remaining lease term (in years)
Operating leases3.413.97
Weighted-average discount rate
Operating leases4.10%4.00%
Financing Leases (2):
Financing lease right of use assets$1,332 $3,569
Financing lease liabilities$706 $2,128
Weighted-average remaining lease term (in years)
Financing leases0.741.06
Weighted-average discount rate
Financing leases12.15%11.18%
(1) The current portion of the total operating lease liabilities of $4.9 million is classified under Other Current Liabilities resulting in $7.7 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 $1.3 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $0.7 million is classified under Current portion of debt, net, resulting in no balance 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 29, 2025 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
2025 (1)$1,362 $188 
20264,488 563 
20273,404 — 
20282,324 — 
20291,051 — 
Thereafter822 — 
Total undiscounted lease payments$13,451 $751 
Less: present value discount(859)(45)
Total lease liabilities$12,592 $706 
(1) Represents estimated lease payments for the remaining three-month period ending June 28, 2025.
Schedule of Maturities of Finance Leases Liability
Future lease payments under non-cancellable leases as of March 29, 2025 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
2025 (1)$1,362 $188 
20264,488 563 
20273,404 — 
20282,324 — 
20291,051 — 
Thereafter822 — 
Total undiscounted lease payments$13,451 $751 
Less: present value discount(859)(45)
Total lease liabilities$12,592 $706 
(1) Represents estimated lease payments for the remaining three-month period ending June 28, 2025.