v3.24.1.1.u2
Leases (Tables)
12 Months Ended
Mar. 29, 2024
Leases [Abstract]  
Lease, Cost

Operating lease cost is recognized on a straight-line basis over the lease term, while finance lease cost is amortized over the expected term on a straight-line basis. Information regarding the Company’s operating and finance leases are as follows:

 

Fiscal Year Ended

 

 

March 29,
2024

 

 

March 31,
2023

 

 

March 25,
2022

 

Operating leases

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

6,369

 

 

$

4,833

 

 

$

4,648

 

Short term lease expense

 

 

39

 

 

 

326

 

 

 

584

 

Other information:

 

 

 

 

 

 

 

 

 

Cash paid for operating leases

 

$

6,305

 

 

$

5,034

 

 

$

5,289

 

Weighted-average remaining lease term - operating leases

 

4.4 years

 

 

4.57 years

 

 

5.17 years

 

Weighted-average discount rate – operating leases

 

 

6.1

%

 

 

5.3

%

 

 

4.5

%

 

 

 

 

 

Fiscal Year Ended

 

 

 

March 29,
2024

 

 

March 31,
2023

 

 

March 25,
2022

 

Finance leases

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

581

 

 

$

 

 

$

 

Interest on lease liabilities

 

 

29

 

 

 

 

 

 

 

Weighted-average remaining lease term - finance leases

 

5.6 years

 

 

 

 

 

 

 

Weighted-average discount rate - finance leases

 

 

7.7

%

 

 

 

 

 

 

 

Finance leases are recorded in the following line items within the consolidated balance sheets:

 

 

March 29,
2024

 

 

March 31,
2023

 

Property, plant and equipment

 

$

7,641

 

 

$

 

Current portion of long-term debt

 

 

1,429

 

 

 

 

Long-term debt

 

 

7,009

 

 

 

 

Schedule of Future Minimum Lease Payments under Operating and Finance Leases

As of March 29, 2024, future minimum lease payments under operating and finance leases as follows:

 

 

Operating Leases

 

 

Finance Leases

 

2025

 

$

6,428

 

 

$

1,751

 

2026

 

 

5,680

 

 

 

1,751

 

2027

 

 

4,804

 

 

 

1,751

 

2028

 

 

3,890

 

 

 

1,751

 

2029

 

 

2,144

 

 

 

1,751

 

Thereafter

 

 

2,135

 

 

 

1,311

 

Total lease payments

 

$

25,081

 

 

$

10,066

 

Less: imputed interest

 

 

(3,414

)

 

 

(1,628

)

Total lease liabilities

 

$

21,667

 

 

$

8,438