Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Schedule of Balance Sheet Information
The components of right-of-use assets and lease liabilities were as follows:
(dollar amounts in millions) Balance Sheet Classification March 29, 2025 December 28, 2024
Assets:
Operating lease assets Right-of-use assets, net $ 54.9  $ 56.3 
Finance lease assets Right-of-use assets, net 4.2  3.4 
Total leased assets $ 59.1  $ 59.7 
Liabilities:
Current:
Operating Accrued expenses and other current liabilities $ 5.6  $ 5.4 
Financing Current maturities of long-term debt 1.5  1.3 
Noncurrent:
Operating Other long-term liabilities 54.9  56.2 
Financing Long-term debt 2.3  2.1 
Total lease liabilities $ 64.3  $ 65.0 
Schedule of Lease Costs
The components of lease expense were as follows:
Three Months Ended
(dollar amounts in millions) March 29, 2025 March 30, 2024
Operating lease cost $ 2.6  $ 2.4 
Variable lease cost 0.1  0.2 
Short-term lease cost 0.1  0.2 
Finance lease cost:
Amortization of right-of-use assets 0.4  0.2 
Interest on lease liabilities 0.1  0.1 
Total lease cost $ 3.3  $ 3.1 
Other information related to leases was as follows:
March 29, 2025 December 28, 2024
Weighted Average Remaining Lease Term (in years)
Operating leases
 12.5 12.6
Finance leases
 2.9 2.9
Weighted Average Discount Rate
Operating leases
 7.4% 7.4%
Finance leases
 7.4% 7.9%
Schedule of Operating Lease Maturity
As of March 29, 2025, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:
(dollar amounts in millions)
2025 $ 7.3 
2026 9.7 
2027 8.8 
2028 8.6 
2029 7.5 
Thereafter 54.0 
Total future lease payments $ 95.9 
Less: imputed interest (35.4)
Present value of future lease payments $ 60.5 
Schedule of Finance Lease Maturity
As of March 29, 2025, future minimum repayments of finance leases were as follows:
(dollar amounts in millions)
2025 $ 1.3 
2026 1.3 
2027 1.0 
2028 0.5 
2029 0.1 
Thereafter — 
Total future lease payments $ 4.2 
Less: imputed interest (0.4)
Present value of future lease payments $ 3.8