v3.25.2
Allowance for Credit Losses
6 Months Ended
Jun. 29, 2025
Allowance for Credit Loss [Abstract]  
Allowance for Credit Losses

Note 7. Allowance for Credit Losses

As of June 29, 2025 and December 29, 2024, the Company had allowances for credit losses of $1,379 and $931, respectively.

The Company recognizes current estimated credit losses (“CECL”) for accounts receivable and other receivables. The CECL for trade receivables is estimated based on the trade receivable aging category, credit risk of specific customers, past collection history, and management’s evaluation of accounts receivable. The Company also has other receivables which are classified within prepaid expenses and other current assets. The CECL for other receivables is estimated based on the other receivables aging category and the probability of default. Provisions for CECL are classified within selling, general and administrative costs.

Changes in the allowance for credit losses for the 26-week period ended June 29, 2025 were as follows:

 

 

Accounts Receivable

 

 

Prepaid Expenses and other Current Assets

 

 

Total

 

As of December 29, 2024

 

$

(691

)

 

$

(240

)

 

$

(931

)

Provisions charged to operating results

 

 

8

 

 

 

68

 

 

 

76

 

Account write-offs

 

 

 

 

 

 

 

 

 

As of March 30, 2025

 

 

(683

)

 

 

(172

)

 

 

(855

)

Reductions charged to operating results

 

 

(191

)

 

 

(350

)

 

 

(541

)

Account write-offs

 

 

17

 

 

 

 

 

 

17

 

As of June 29, 2025

 

$

(857

)

 

$

(522

)

 

$

(1,379

)