Leases (Tables)
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6 Months Ended |
Jun. 28, 2025 |
Leases [Abstract] |
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Schedule of components of lease |
Lease costs for operating and finance leases were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | (in thousands) | | Statement of Operations Location | | June 28, 2025 | | June 29, 2024 | Operating lease cost: | | | | | | | Lease cost | | Cost of goods sold | | $ | 419 | | | $ | 425 | | Lease cost | | Research and development expenses | | 485 | | | 2,377 | | Lease cost | | Selling, general and administrative expenses | | 557 | | | 610 | | Variable lease cost(1) | | Cost of goods sold | | 66 | | | 51 | | Variable lease cost(1) | | Research and development expenses | | — | | | (12) | | Variable lease cost(1) | | Selling, general and administrative expenses | | 370 | | | 869 | | Operating lease cost | | | | $ | 1,897 | | | $ | 4,320 | | Short- term lease cost: | | | | | | | Short-term lease cost | | Cost of goods sold | | $ | 118 | | | $ | 23 | | Short-term lease cost | | Research and development expenses | | 15 | | | 30 | | Short-term lease cost | | Selling, general and administrative expenses | | 109 | | | 75 | | Short-term lease cost | | | | 242 | | 128 | Finance lease cost: | | | | | | | Amortization of right-of use assets | | Cost of goods sold | | $ | 272 | | | $ | 269 | | Amortization of right-of use assets | | Research and development expenses | | 1,561 | | | 3 | | Interest on lease liabilities | | Interest expense | | 1,016 | | | 45 | | Variable lease cost(1) | | Cost of goods sold | | 16 | | | 2 | | Variable lease cost(1) | | Research and development expenses | | 1 | | | 1 | | Variable lease cost(1) | | Selling, general and administrative expenses | | 585 | | | — | | 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 Location | | June 28, 2025 | | June 29, 2024 | Operating lease cost: | | | | | | | Lease cost | | Cost of goods sold | | $ | 826 | | | $ | 822 | | Lease cost | | Research and development expenses | | 2,872 | | | 4,768 | | Lease cost | | Selling, general and administrative expenses | | 1,180 | | | 1,278 | | Variable lease cost(1) | | Cost of goods sold | | 102 | | | 116 | | Variable lease cost(1) | | Research and development expenses | | — | | | 6 | | Variable lease cost(1) | | Selling, general and administrative expenses | | 1,468 | | | 1,960 | | Operating lease cost | | | | $ | 6,448 | | | $ | 8,950 | | Short- term lease cost: | | | | | | | Short-term lease cost | | Cost of goods sold | | $ | 195 | | | $ | 44 | | Short-term lease cost | | Research and development expenses | | 29 | | | 54 | | Short-term lease cost | | Selling, general and administrative expenses | | 245 | | | 108 | | Short-term lease cost | | | | $ | 469 | | | 206 | Finance lease cost: | | | | | | | Amortization of right-of use assets | | Cost of goods sold | | $ | 526 | | | $ | 466 | | Amortization of right-of use assets | | Research and development expenses | | 1,564 | | | 7 | | Interest on lease liabilities | | Interest expense | | 1,056 | | | 77 | | Variable lease cost(1) | | Cost of goods sold | | 28 | | | 6 | | Variable lease cost(1) | | Research and development expenses | | 1 | | | 1 | | Variable lease cost(1) | | Selling, general and administrative expenses | | 585 | | | — | | 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) | | 4.2 | | 12.9 | Weighted average discount rate | | 4.7% | | 8.2% |
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Schedule of supplemental balance sheet information |
Supplemental balance sheet information related to leases: | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Balance Sheet Location | | June 28, 2025 | | December 31, 2024 | Assets | | | | | | | Operating leases | | Operating lease right-of-use assets | | $ | 6,527 | | | $ | 123,975 | | Finance leases, net | | Property, plant and equipment, net | | 147,785 | | | 3,817 | | Total lease assets | | | | $ | 154,312 | | | $ | 127,792 | | | | | | | | | Liabilities | | | | | | | Current: | | | | | | | Operating lease liabilities | | Current portion of operating lease liabilities | | $ | 1,798 | | | $ | 4,125 | | Finance lease liabilities | | Accrued expenses and other current liabilities | | 3,934 | | | 851 | | Long-term: | | | | | | | Operating lease liabilities | | Operating lease liabilities, net of current portion | | 4,441 | | | 73,613 | | Finance lease liabilities | | Finance lease obligations and other long-term liabilities | | 80,025 | | | 2,812 | | Total lease liabilities | | | | $ | 90,198 | | | $ | 81,401 | |
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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 Leases | | Finance Leases | Remainder of 2025 | | $ | 1,054 | | | $ | 5,206 | | 2026 | | 1,852 | | | 10,929 | | 2027 | | 1,565 | | | 9,866 | | 2028 | | 900 | | | 10,086 | | 2029 | | 615 | | | 9,340 | | Thereafter | | 802 | | | 95,565 | | Total undiscounted future minimum lease payments | | 6,788 | | | 140,992 | | Less imputed interest | | (547) | | | (57,033) | | Total discounted future minimum lease payments | | $ | 6,241 | | | $ | 83,959 | |
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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 Leases | | Finance Leases | Remainder of 2025 | | $ | 1,054 | | | $ | 5,206 | | 2026 | | 1,852 | | | 10,929 | | 2027 | | 1,565 | | | 9,866 | | 2028 | | 900 | | | 10,086 | | 2029 | | 615 | | | 9,340 | | Thereafter | | 802 | | | 95,565 | | Total undiscounted future minimum lease payments | | 6,788 | | | 140,992 | | Less imputed interest | | (547) | | | (57,033) | | Total discounted future minimum lease payments | | $ | 6,241 | | | $ | 83,959 | |
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Schedule of supplemental cash flow information |
Supplemental cash flow information related to leases: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | (in thousands) | | June 28, 2025 | | June 29, 2024 | | June 28, 2025 | | June 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 liabilities | | 2,082 | | | $ | 355 | | | 2,082 | | | $ | 1,389 | |
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