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Note 10 - Leases

12 Months Ended

Jan. 01, 2022

We have operating leases for corporate offices, sales offices, research and development facilities, storage facilities, and a data center, all of which are leased under operating leases that expire at various times through 2028. In the first quarter of fiscal 2021, we extended the leases for our Hillsboro, Oregon and Shanghai, China facilities, which resulted in approximately $7.2 million of the increase in right-of-use assets and operating lease liabilities. Our leases have remaining lease terms of 1 to 7 years, some of which include options to extend for up to 5 years, and some of which include options to terminate within 1 year. The weighted-average remaining lease term was 4.1 years and the weighted-average discount rate was 5.4% as of January 1, 2022. We recorded fixed operating lease expense of $7.9 million, $7.6 million, and $7.7 million, respectively, for fiscal 2021, 2020, and 2019.

The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during fiscal 2021:

Operating lease right-of-use assets	(in thousands)
Balance as of January 2, 2021	$	22,178
Right-of-use assets obtained for new and modified lease contracts during the period		8,134
Amortization of right-of-use assets during the period		(6,587	)
Adjustments for present value and foreign currency effects		93
Balance as of January 1, 2022	$	23,818

Operating lease liabilities	(in thousands)
Balance as of January 2, 2021	$	23,055
Lease liabilities incurred for new lease contracts during the period		8,134
Accretion of lease liabilities		1,305
Operating cash used by payments on lease liabilities		(7,639	)
Adjustments for present value and foreign currency effects		89
Balance as of January 1, 2022		24,944
Less: Current portion of operating lease liabilities (included in Accrued expenses)		(5,696	)
Long-term operating lease liabilities, net of current portion	$	19,248

Lease obligations for facilities restructured prior to the adoption of Topic 842 totaled approximately $7.1 million at January 1, 2022 and continued to be recorded in Other long-term liabilities on our Consolidated Balance Sheets.

Maturities of operating lease liabilities as of January 1, 2022 are as follows:

Fiscal year	(in thousands)
2022		6,917
2023		7,446
2024		5,408
2025		3,651
2026		2,532
Thereafter		2,082
Total lease payments		28,036
Less: amount representing interest		(3,092	)
Total lease liabilities	$	24,944