Note 9 - Leases

12 Months Ended

Dec. 28, 2024

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 9 - Leases

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 2029. Our leases have remaining lease terms of less than 1 year to 5 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 3.0 years and the weighted-average discount rate was 6.0% as of December 28, 2024. We recorded fixed operating lease expense of $8.5 million, $7.8 million, and $7.6 million, respectively, for fiscal 2024, 2023, and 2022.

The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during fiscal 2024:

Operating lease right-of-use assets	(In thousands)
Balance as of December 30, 2023	$	14,487
Right-of-use assets obtained for new lease contracts during the period		7,428
Amortization of right-of-use assets during the period		(7,530	)
Impairment of right-of use asset during the period (recorded in Restructuring charges)		(384	)
Adjustments for present value and foreign currency effects		(131	)
Balance as of December 28, 2024	$	13,870

Operating lease liabilities	(In thousands)
Balance as of December 30, 2023	$	16,310
Lease liabilities accrued for new lease contracts during the period		7,428
Accretion of lease liabilities		977
Operating cash used for payments on lease liabilities		(9,567	)
Adjustments for present value and foreign currency effects		103
Balance as of December 28, 2024		15,251
Less: Current portion of operating lease liabilities (included in Accrued liabilities)		(5,818	)
Long-term operating lease liabilities, net of current portion	$	9,433

Lease obligations for facilities restructured prior to the adoption of Topic 842 totaled approximately $3.0 million at December 28, 2024 and continued to be recorded in Other long-term liabilities on our Consolidated Balance Sheets.

Maturities of operating lease liabilities as of December 28, 2024 are as follows:

Fiscal year	(In thousands)
2025	$	6,491
2026		4,635
2027		2,825
2028		2,224
2029		452
Total lease payments		16,627
Less: amount representing interest		(1,376	)
Total lease liabilities	$	15,251