Leases (Tables)

3 Months Ended

Mar. 29, 2025

Lease costs for operating and finance leases were as follows:


		Three Months Ended
(in thousands)	Statement of Operations Location	March 29, 2025		March 30, 2024
Operating lease cost:
Lease cost	Cost of goods sold	$	396	$	397
Lease cost	Research and development expenses	2,387		2,391
Lease cost	Selling, general and administrative expenses	623		668
Variable lease cost(1)	Cost of goods sold	32		65
Variable lease cost(1)	Research and development expenses	—		18
Variable lease cost(1)	Selling, general and administrative expenses	1,099		1,091
Operating lease cost		$	4,537	$	4,630
Short- term lease cost:
Short-term lease cost	Cost of goods sold	$	77	$	21
Short-term lease cost	Research and development expenses	14		24
Short-term lease cost	Selling, general and administrative expenses	135		33
Short-term lease cost		226		78
Finance lease cost:
Amortization of right-of use assets	Cost of goods sold	$	255	$	197
Amortization of right-of use assets	Research and development expenses	3		4
Interest on lease liabilities	Interest expense	40		32
Variable lease cost(1)	Cost of goods sold	12		4
Finance lease cost		$	310	$	237
Total lease cost		$	5,073	$	4,945

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

Weighted average remaining lease terms and weighted average discount rates were:


	March 29, 2025
	Operating Leases	Finance Leases
Weighted average remaining lease term (years)	13.1	3.7
Weighted average discount rate	7.0%	4.2%

Supplemental balance sheet information related to leases are:


		Three Months Ended
(in thousands)	Balance Sheet Location	March 29, 2025		December 31, 2024
Assets
Operating leases	Operating lease right-of-use assets	$	121,131	$	123,975
Finance leases, net	Property, plant and equipment, net	3,828		3,817
Total lease assets		$	124,959	$	127,792

Liabilities
Current:
Operating lease liabilities	Current portion of operating lease liabilities	$	3,941	$	4,125
Finance lease liabilities	Accrued expenses and other current liabilities	829		851
Long-term:
Operating lease liabilities	Operating lease liabilities, net of current portion	72,147		73,613
Finance lease liabilities	Finance lease obligations and other long-term liabilities	2,853		2,812
Total lease liabilities		$	79,770	$	81,401

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of March 29, 2025:


	March 29, 2025
(in thousands)	Operating Leases		Finance Leases
Remainder of 2025	$	6,337	$	683
2026	8,311		1,102
2027	8,128		1,070
2028	8,173		1,030
2029	8,394		92
Thereafter	80,466		—
Total undiscounted future minimum lease payments	119,809		3,977
Less imputed interest	(43,721)		(295)
Total discounted future minimum lease payments	$	76,088	$	3,682

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of March 29, 2025:


	March 29, 2025
(in thousands)	Operating Leases		Finance Leases
Remainder of 2025	$	6,337	$	683
2026	8,311		1,102
2027	8,128		1,070
2028	8,173		1,030
2029	8,394		92
Thereafter	80,466		—
Total undiscounted future minimum lease payments	119,809		3,977
Less imputed interest	(43,721)		(295)
Total discounted future minimum lease payments	$	76,088	$	3,682

Supplemental cash flow information related to leases are:


	Three Months Ended
(in thousands)	March 29, 2025		March 30, 2024
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,255	$	2,171
Operating lease right-of-use assets obtained in exchange for lease liabilities	$	—	$	1,034