Leases (Tables)

6 Months Ended

Jul. 04, 2026

The components of right-of-use assets and lease liabilities were as follows for the periods presented:


(dollar amounts in millions)	Balance Sheet Classification	July 4, 2026		January 3, 2026
Assets:
Operating lease assets	Right-of-use assets, net	$	70.8	$	70.8
Finance lease assets	Right-of-use assets, net	1.4		2.6
Total leased assets		$	72.2	$	73.4
Liabilities:
Current:
Operating	Accrued expenses and other current liabilities	$	7.6	$	6.3
Finance	Current maturities of long-term debt	0.6		0.9
Noncurrent:
Operating	Other long-term liabilities	$	69.8	$	70.9
Finance	Long-term debt	0.6		1.3
Total lease liabilities		$	78.6	$	79.4

Schedule of Lease Costs

The components of lease expense were as follows for the periods presented:


	Three Months Ended				Six Months Ended
(dollar amounts in millions)	July 4, 2026		June 28, 2025		July 4, 2026		June 28, 2025
Operating lease cost	$	3.3	$	2.5	$	6.4	$	5.1
Variable lease cost	0.2		—		0.4		0.1
Short-term lease cost	0.5		—		0.8		0.1
Finance lease cost:
Amortization of right-of-use assets	0.3		0.8		0.6		1.2
Interest on lease liabilities	0.1		—		0.1		0.1
Total lease cost	$	4.4	$	3.3	$	8.3	$	6.6

Other information related to leases was as follows for the periods presented:


	July 4, 2026	January 3, 2026
Weighted Average Remaining Lease Term (in years)
Operating Leases	13.0	11.9
Finance Leases	2.2	2.5
Weighted Average Discount Rate
Operating Leases	7.2%	7.4%
Finance Leases	7.1%	7.2%

Schedule of Operating Lease Maturity

As of July 4, 2026, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:


(dollar amounts in millions)
2026	$	6.5
2027	12.1
2028	11.6
2029	10.5
2030	8.9
Thereafter	73.9
Total future lease payments	$	123.5
Less: imputed interest	(46.1)
Present value of future lease payments	$	77.4

Schedule of Finance Lease Maturity

As of July 4, 2026, future minimum repayments of finance leases were as follows:


(dollar amounts in millions)
2026	$	0.3
2027	0.6
2028	0.3
2029	0.1
2030	—
Thereafter	—
Total future lease payments	$	1.3
Less: imputed interest	(0.1)
Present value of future lease payments	$	1.2