v3.25.2
Leases (Tables)
6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Schedule of components of lease
Lease costs for operating and finance leases were as follows:
Three Months Ended
(in thousands)Statement of Operations LocationJune 28, 2025June 29, 2024
Operating lease cost:
Lease costCost of goods sold$419 $425 
Lease costResearch and development expenses485 2,377 
Lease costSelling, general and administrative expenses557 610 
Variable lease cost(1)
Cost of goods sold66 51 
Variable lease cost(1)
Research and development expenses— (12)
Variable lease cost(1)
Selling, general and administrative expenses370 869 
Operating lease cost$1,897 $4,320 
Short- term lease cost:
Short-term lease costCost of goods sold$118 $23 
Short-term lease costResearch and development expenses15 30 
Short-term lease costSelling, general and administrative expenses109 75 
Short-term lease cost242128
Finance lease cost:
Amortization of right-of use assetsCost of goods sold$272 $269 
Amortization of right-of use assetsResearch and development expenses1,561 
Interest on lease liabilitiesInterest expense1,016 45 
Variable lease cost(1)
Cost of goods sold16 
Variable lease cost(1)
Research and development expenses
Variable lease cost(1)
Selling, general and administrative expenses585 — 
Finance lease cost$3,451 $320 
Total lease cost$5,590 $4,768 
____________
(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.
Six Months Ended
(in thousands)Statement of Operations LocationJune 28, 2025June 29, 2024
Operating lease cost:
Lease costCost of goods sold$826 $822 
Lease costResearch and development expenses2,872 4,768 
Lease costSelling, general and administrative expenses1,180 1,278 
Variable lease cost(1)
Cost of goods sold102 116 
Variable lease cost(1)
Research and development expenses— 
Variable lease cost(1)
Selling, general and administrative expenses1,468 1,960 
Operating lease cost$6,448 $8,950 
Short- term lease cost:
Short-term lease costCost of goods sold$195 $44 
Short-term lease costResearch and development expenses29 54 
Short-term lease costSelling, general and administrative expenses245 108 
Short-term lease cost$469 206
Finance lease cost:
Amortization of right-of use assetsCost of goods sold$526 $466 
Amortization of right-of use assetsResearch and development expenses1,564 
Interest on lease liabilitiesInterest expense1,056 77 
Variable lease cost(1)
Cost of goods sold28 
Variable lease cost(1)
Research and development expenses
Variable lease cost(1)
Selling, general and administrative expenses585 — 
Finance lease cost$3,760 $557 
Total lease cost$10,677 $9,713 
____________
(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:
June 28, 2025
Operating Leases
Finance Leases
Weighted average remaining lease term (years)4.212.9
Weighted average discount rate4.7%8.2%
Schedule of supplemental balance sheet information
Supplemental balance sheet information related to leases:
(in thousands) Balance Sheet LocationJune 28, 2025December 31, 2024
Assets
Operating leasesOperating lease right-of-use assets$6,527 $123,975 
Finance leases, netProperty, plant and equipment, net147,785 3,817 
Total lease assets$154,312 $127,792 
Liabilities
Current:
Operating lease liabilitiesCurrent portion of operating lease liabilities$1,798 $4,125 
Finance lease liabilitiesAccrued expenses and other current liabilities3,934 851 
Long-term:
Operating lease liabilitiesOperating lease liabilities, net of current portion4,441 73,613 
Finance lease liabilitiesFinance lease obligations and other long-term liabilities80,025 2,812 
Total lease liabilities$90,198 $81,401 
Schedule of future maturities of operating lease liabilities
The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of June 28, 2025:
June 28, 2025
(in thousands)Operating LeasesFinance Leases
Remainder of 2025$1,054 $5,206 
20261,852 10,929 
20271,565 9,866 
2028900 10,086 
2029615 9,340 
Thereafter802 95,565 
Total undiscounted future minimum lease payments6,788 140,992 
Less imputed interest(547)(57,033)
Total discounted future minimum lease payments$6,241 $83,959 
Schedule of future maturities of finance lease liabilities
The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of June 28, 2025:
June 28, 2025
(in thousands)Operating LeasesFinance Leases
Remainder of 2025$1,054 $5,206 
20261,852 10,929 
20271,565 9,866 
2028900 10,086 
2029615 9,340 
Thereafter802 95,565 
Total undiscounted future minimum lease payments6,788 140,992 
Less imputed interest(547)(57,033)
Total discounted future minimum lease payments$6,241 $83,959 
Schedule of supplemental cash flow information
Supplemental cash flow information related to leases:
Three Months EndedSix Months Ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Cash paid for amounts included in the measurement of operating lease liabilities
$1,568 $2,160 $3,823 $4,331 
Operating lease right-of-use assets obtained in exchange for lease liabilities2,082 $355 2,082 $1,389