v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 27, 2025
Leases [Abstract]  
Summary of Weighted Average Remaining Lease Term and Discount Rate and Leases Within Condensed Consolidated Statement of Operations
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

June 27, 2025December 31, 2024
Weighted average remaining lease term:
Operating leases6.0 years6.4 years
Financing leases3.2 years2.9 years
Weighted average discount rate:
Operating leases4.2 %4.1 %
Financing leases5.1 %5.2 %

Following is a summary of the Company’s leases within the condensed consolidated statements of operations:

Second QuarterFirst Half
(in thousands)2025202420252024
Operating lease costs$6,639 $7,475 $13,233 $15,264 
Short-term and variable leases1,830 3,369 3,917 6,399 
Depreciation expense from financing leases374 411 785 823 
Interest expense on financing lease obligations48 84 106 176 
Total lease cost$8,891 $11,339 $18,041 $22,662 
Summary of Future Minimum Lease Payments for Noncancelable Operating Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 27, 2025:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2025$15,352 $997 
202626,432 1,084 
202722,099 338 
202817,446 345 
202916,086 352 
Thereafter28,719 268 
Total minimum lease payments including interest$126,134 $3,384 
Less: Amounts representing interest14,383 255 
Present value of minimum lease principal payments111,751 3,129 
Less: Current portion of lease liabilities24,538 1,660 
Noncurrent portion of lease liabilities$87,213 $1,469 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2024:

(in thousands)Operating LeasesFinancing Leases
2025$26,799 $2,869 
202624,578 1,233 
202721,101 338 
202816,427 345 
202915,046 352 
Thereafter27,482 268 
Total minimum lease payments including interest$131,433 $5,405 
Less: Amounts representing interest15,814 374 
Present value of minimum lease principal payments115,619 5,031 
Less: Current portion of lease liabilities23,257 2,685 
Noncurrent portion of lease liabilities$92,362 $2,346 
Summary of Future Minimum Lease Payments for Noncancelable Finance Leases Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 27, 2025:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2025$15,352 $997 
202626,432 1,084 
202722,099 338 
202817,446 345 
202916,086 352 
Thereafter28,719 268 
Total minimum lease payments including interest$126,134 $3,384 
Less: Amounts representing interest14,383 255 
Present value of minimum lease principal payments111,751 3,129 
Less: Current portion of lease liabilities24,538 1,660 
Noncurrent portion of lease liabilities$87,213 $1,469 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2024:

(in thousands)Operating LeasesFinancing Leases
2025$26,799 $2,869 
202624,578 1,233 
202721,101 338 
202816,427 345 
202915,046 352 
Thereafter27,482 268 
Total minimum lease payments including interest$131,433 $5,405 
Less: Amounts representing interest15,814 374 
Present value of minimum lease principal payments115,619 5,031 
Less: Current portion of lease liabilities23,257 2,685 
Noncurrent portion of lease liabilities$92,362 $2,346 
Summary of Leases Within Condensed Consolidated Statement of Cash Flow
Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows:

First Half
(in thousands)20252024
Cash flows from operating activities impact:
Operating leases$12,521 $14,989 
Interest payments on financing lease obligations106 176 
Total cash flows from operating activities impact$12,627 $15,165 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$1,320 $1,221 
Total cash flows from financing activities impact$1,320 $1,221