Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

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Leases (Tables)
 3 Months Ended
Mar. 30, 2024
Leases [Abstract]  
Schedule of Balance Sheet Information
The components of right-of-use (“ROU”) assets and lease liabilities were as follows:
(in millions) Balance Sheet Classification March 30, 2024 December 30, 2023
Assets:
Operating lease assets Right-of-use assets, net $ 46.9  $ 47.6 
Finance lease assets Right-of-use assets, net 3.0  3.3 
Total leased assets $ 49.9  $ 50.9 
Liabilities:
Current:
Operating Other accrued expenses $ 5.5  $ 5.4 
Financing Current maturities of long-term debt 1.0  1.0 
Noncurrent:
Operating Other long-term liabilities $ 46.3  $ 46.9 
Financing Long-term debt 2.2  2.4 
Total lease liabilities $ 55.0  $ 55.7 
Schedule of Lease Costs
The components of lease expense were as follows:
Three Months Ended Three Months Ended
(in millions) March 30, 2024 April 1, 2023
Operating lease cost $ 2.4  $ 2.2 
Variable lease cost 0.2  0.2 
Short-term lease cost 0.2  — 
Finance lease cost:
Amortization of right-of-use assets $ 0.2  $ 0.1 
Interest on lease liabilities 0.1  — 
Total lease cost $ 3.1  $ 2.5 
Other information related to leases was as follows:
March 30, 2024 December 30, 2023
Weighted Average Remaining Lease Term (in years)
Operating Leases 8.62 8.85
Finance Leases 3.18 3.39
Weighted Average Discount Rate
Operating Leases 7.6% 7.6%
Finance Leases 8.4% 8.4%
Schedule of Operating Lease Maturity
As of March 30, 2024, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:
(in millions)
2024 $ 6.7 
2025 9.0 
2026 8.6 
2027 7.6 
2028 7.5 
Thereafter 32.7 
Total future lease payments $ 72.1 
Less: imputed interest $ (20.3)
Present value of future lease payments $ 51.8 
Schedule of Finance Lease Maturity
As of March 30, 2024, future minimum repayments of finance leases were as follows:
(in millions)
2024 $ 0.9 
2025 1.2 
2026 0.7 
2027 0.5 
2028 0.4 
Thereafter — 
Total future lease payments $ 3.7 
Less: imputed interest $ (0.5)
Present value of future lease payments $ 3.2