XML 31 R20.htm IDEA: XBRL DOCUMENT v3.24.4
Leases
 6 Months Ended
Dec. 28, 2024
Leases [Abstract]  
Leases
Note 12. Leases
The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company's lease arrangements are comprised of operating leases with various expiration dates through March 31, 2042. The Company's leases do not contain any material residual value guarantees.
Lease expense and cash flow information related to our operating leases is as follows (in millions):
Three Months EndedSix Months Ended
December 28, 2024December 30, 2023December 28, 2024December 30, 2023
Operating lease costs (1)
$3.1 $3.3 $6.4 $6.6 
Cash paid for amounts included in the measurement of operating lease liabilities$1.5 $3.2 $6.2 $7.8 
Operating ROU assets obtained in exchange for operating lease obligations$1.0 $1.5 $2.7 $2.6 
(1)Total variable lease costs were immaterial during the six months ended December 28, 2024 and December 30, 2023. The total operating costs were included in Cost of revenues, R&D, and SG&A in the Consolidated Statements of Operations.
As of December 28, 2024 and December 30, 2023, the weighted-average remaining lease term was 6.0 years and 6.5 years, respectively, and the weighted-average discount rate was 5.7% and 4.8%, respectively.
Future minimum operating lease payments as of December 28, 2024 are as follows (in millions):
Operating Leases
Remainder of 2025$4.6 
Fiscal 20269.9 
Fiscal 20277.7 
Fiscal 20285.3 
Fiscal 20293.5 
Thereafter8.3 
Total lease payments39.3 
Less: Interest(6.6)
Present value of lease liabilities$32.7