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

​