Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.26.1
Leases (Tables)
 6 Months Ended
Jul. 04, 2026
Leases [Abstract]  
Schedule of Balance Sheet Information
The components of right-of-use assets and lease liabilities were as follows for the periods presented:

(dollar amounts in millions) Balance Sheet Classification July 4, 2026 January 3, 2026
Assets:
Operating lease assets Right-of-use assets, net $ 70.8  $ 70.8 
Finance lease assets Right-of-use assets, net 1.4  2.6 
Total leased assets $ 72.2  $ 73.4 
Liabilities:
Current:
Operating Accrued expenses and other current liabilities $ 7.6  $ 6.3 
Finance Current maturities of long-term debt 0.6  0.9 
Noncurrent:
Operating
Other long-term liabilities
 $ 69.8  $ 70.9 
Finance Long-term debt 0.6  1.3 
Total lease liabilities $ 78.6  $ 79.4 
Schedule of Lease Costs
The components of lease expense were as follows for the periods presented:

Three Months Ended Six Months Ended
(dollar amounts in millions) July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025
Operating lease cost $ 3.3  $ 2.5  $ 6.4  $ 5.1 
Variable lease cost 0.2  —  0.4  0.1 
Short-term lease cost 0.5  —  0.8  0.1 
Finance lease cost:
Amortization of right-of-use assets 0.3  0.8  0.6  1.2 
Interest on lease liabilities 0.1  —  0.1  0.1 
Total lease cost $ 4.4  $ 3.3  $ 8.3  $ 6.6 
Other information related to leases was as follows for the periods presented:

July 4, 2026 January 3, 2026
Weighted Average Remaining Lease Term (in years)
Operating Leases 13.0 11.9
Finance Leases 2.2 2.5
Weighted Average Discount Rate
Operating Leases 7.2% 7.4%
Finance Leases 7.1% 7.2%
Schedule of Operating Lease Maturity
As of July 4, 2026, 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)
2026 $ 6.5 
2027 12.1 
2028 11.6 
2029 10.5 
2030 8.9 
Thereafter 73.9 
Total future lease payments $ 123.5 
Less: imputed interest (46.1)
Present value of future lease payments $ 77.4 
Schedule of Finance Lease Maturity
As of July 4, 2026, future minimum repayments of finance leases were as follows:

(dollar amounts in millions)
2026 $ 0.3 
2027 0.6 
2028 0.3 
2029 0.1 
2030 — 
Thereafter — 
Total future lease payments $ 1.3 
Less: imputed interest (0.1)
Present value of future lease payments $ 1.2