Quarterly report [Sections 13 or 15(d)]

Leases (Tables)

v3.25.2
Leases (Tables)
6 Months Ended
Jun. 29, 2025
Leases  
Schedule of components of lease expense

The components of lease expense for the six periods ended June 29, 2025 and the six months ended June 30, 2024 are as follows (in thousands):

June 29,

 

June 30,

 

2025

 

2024

 

Lease cost

Operating lease cost

 

$

23,405

 

$

13,739

Finance lease cost

Amortization of ROU assets

108

108

Interest on lease liabilities

47

36

Total finance lease cost

155

144

Variable lease cost (1)

10,024

7,561

Short-term lease cost

1,927

922

Total lease cost

 

$

35,511

 

$

22,366

Weighted average remaining lease term

Operating leases

13 years

13 years

Finance leases

3 years

3 years

Weighted average discount rate

Operating leases

10.36

%

10.30

%

Finance leases

11.14

%

9.17

%

(1) Variable lease cost is comprised of percentage rent and common area maintenance.
Summary of components of finance lease assets and liabilities on the condensed consolidated balance sheet

Supplemental cash flow information related to leases for the period was as follows (in thousands):

    

June 29,

    

December 31,

2025

2024

Finance lease right-of-use assets (1)

$

639

$

849

Current portion of finance lease liabilities (1)

 

173

 

189

Long-term portion of finance lease liabilities (1)

563

754

(1) Finance lease assets and liabilities are included in other assets, other current liabilities, and other long-term liabilities on the condensed consolidated balance sheet.
Schedule of supplemental cash flow information related to leases

June 29,

June 30,

2025

2024

Cash paid for amounts included in the measurement of lease liabilities:

 

Operating cash flows from operating leases

$

22,003

$

12,738

Operating cash flows from finance leases

$

108

$

108

Financing cash flows from finance leases

$

136

$

112

Right-of-use assets obtained in exchange for lease obligations:

Operating leases

$

864

$

3,081

Finance leases

 

$

$

Schedule of maturities of operating lease liabilities

As of June 29, 2025, maturities of the Company’s operating lease liabilities are as follows (in thousands):

2025, six periods remaining

$

16,955

2026

42,123

2027

44,692

2028

44,831

2029

45,128

Thereafter

392,224

Total lease payments

585,953

Less: imputed interest

(283,370)

Present value of operating lease liabilities

 

$

302,583

Schedule of maturities of finance lease liabilities

As of June 29, 2025, maturities of the Company’s finance lease liabilities are as follows (in thousands):

2025, six periods remaining

$

176

2026

240

2027

240

2028

220

Total lease payments

876

Less: imputed interest

(140)

Present value of finance lease liabilities

 

$

736