v3.26.1
Leases
 6 Months Ended
Jul. 03, 2026
Leases [Abstract]  
Leases Leases
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

July 3, 2026December 31, 2025
Weighted average remaining lease term:
Operating leases6.2 years6.4 years
Financing leases3.9 years4.1 years
Weighted average discount rate:
Operating leases4.4 %4.4 %
Financing leases4.9 %4.8 %

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

Second QuarterFirst Half
(in thousands)2026202520262025
Operating lease costs$6,994 $6,639 $14,028 $13,233 
Short-term and variable leases1,765 1,830 4,033 3,917 
Depreciation expense from financing leases101 374 203 785 
Interest expense on financing lease obligations18 48 38 106 
Total lease cost$8,878 $8,891 $18,302 $18,041 
The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of July 3, 2026:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2026$15,056 $314 
202724,989 338 
202820,407 345 
202919,095 352 
203011,454 268 
Thereafter33,320 — 
Total minimum lease payments including interest$124,321 $1,617 
Less: Amounts representing interest15,809 148 
Present value of minimum lease principal payments108,512 1,469 
Less: Current portion of lease liabilities23,637 422 
Noncurrent portion of lease liabilities$84,875 $1,047 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2025:

(in thousands)Operating LeasesFinancing Leases
2026$28,530 $627 
202724,969 338 
202820,403 345 
202919,095 352 
203011,447 268 
Thereafter33,290 — 
Total minimum lease payments including interest$137,734 $1,930 
Less: Amounts representing interest18,246 186 
Present value of minimum lease principal payments119,488 1,744 
Less: Current portion of lease liabilities24,412 556 
Noncurrent portion of lease liabilities$95,076 $1,188 

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

First Half
(in thousands)20262025
Cash flows from operating activities impact:
Operating leases$14,251 $12,521 
Interest payments on financing lease obligations38 106 
Total cash flows from operating activities impact$14,289 $12,627 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$275 $1,320 
Total cash flows from financing activities impact$275 $1,320 
Leases Leases
Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

July 3, 2026December 31, 2025
Weighted average remaining lease term:
Operating leases6.2 years6.4 years
Financing leases3.9 years4.1 years
Weighted average discount rate:
Operating leases4.4 %4.4 %
Financing leases4.9 %4.8 %

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

Second QuarterFirst Half
(in thousands)2026202520262025
Operating lease costs$6,994 $6,639 $14,028 $13,233 
Short-term and variable leases1,765 1,830 4,033 3,917 
Depreciation expense from financing leases101 374 203 785 
Interest expense on financing lease obligations18 48 38 106 
Total lease cost$8,878 $8,891 $18,302 $18,041 
The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of July 3, 2026:

(in thousands)Operating LeasesFinancing Leases
Remainder of 2026$15,056 $314 
202724,989 338 
202820,407 345 
202919,095 352 
203011,454 268 
Thereafter33,320 — 
Total minimum lease payments including interest$124,321 $1,617 
Less: Amounts representing interest15,809 148 
Present value of minimum lease principal payments108,512 1,469 
Less: Current portion of lease liabilities23,637 422 
Noncurrent portion of lease liabilities$84,875 $1,047 

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2025:

(in thousands)Operating LeasesFinancing Leases
2026$28,530 $627 
202724,969 338 
202820,403 345 
202919,095 352 
203011,447 268 
Thereafter33,290 — 
Total minimum lease payments including interest$137,734 $1,930 
Less: Amounts representing interest18,246 186 
Present value of minimum lease principal payments119,488 1,744 
Less: Current portion of lease liabilities24,412 556 
Noncurrent portion of lease liabilities$95,076 $1,188 

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

First Half
(in thousands)20262025
Cash flows from operating activities impact:
Operating leases$14,251 $12,521 
Interest payments on financing lease obligations38 106 
Total cash flows from operating activities impact$14,289 $12,627 
Cash flows from financing activities impact:
Principal payments on financing lease obligations$275 $1,320 
Total cash flows from financing activities impact$275 $1,320