Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2.2
Leases (Tables)
 6 Months Ended
Jul. 02, 2022
Leases [Abstract]  
Balance Sheet Information The components of ROU assets and lease liabilities were as follows:
(in thousands) Balance Sheet Classification July 2, 2022
Assets:
Operating lease assets Right-of-use assets, net $ 39,891 
Finance lease assets Right-of-use assets, net 644 
Total leased assets $ 40,535 
Liabilities:
Current:
Operating Other accrued expenses $ 4,944 
Financing Current maturities of long-term debt 161 
Noncurrent:
Operating Other long-term liabilities $ 37,579 
Financing Long-term debt 490 
Total lease liabilities $ 43,174 
Lease Costs
The components of lease expense were as follows:
Three Months Ended Six Months Ended
(in thousands) July 2, 2022 July 2, 2022
Operating lease cost $ 2,018  $ 4,005 
Short-term lease cost —  60 
Financial lease cost:
Amortization of right-of-use assets $ 45  $ 62 
Interest on lease liabilities 9  12 
Total lease cost $ 2,072  $ 4,139 
Other information related to leases was as follows:
July 2, 2022
Weighted Average Remaining Lease Term
Operating Leases 9.8 years
Finance Leases 3.7 years
Weighted Average Discount Rate
Operating Leases 6.6%
Finance Leases 5.0%
Schedule of Operating Lease Maturity
As of July 2, 2022, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:
(in thousands)
2022 $ 3,801 
2023 7,354 
2024 6,457 
2025 5,759 
2026 5,215 
Thereafter 30,801 
Total future lease payments $ 59,387 
Less imputed interest $ (16,864)
Present value of future lease payments $ 42,523 
Schedule of Finance Lease Maturity As of July 2, 2022, minimum repayments of long-term debt under financing leases were as follows:
(in thousands)
2022 $ 95 
2023 189 
2024 189 
2025 189 
2026 40 
Thereafter 11 
Total future lease payments $ 713 
Less imputed interest $ (62)
Present value of future lease payments $ 651