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LEASES | 12 Months Ended
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Dec. 27, 2025
LEASES |
LEASES | NOTE 5 - LEASES The Company’s operating leases consist of offices and vehicles and the lease term varies between 3-8 years. Some of the Company’s leases include options to extend the lease term for periods of up to five years each. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expenses for operating lease payments are recognized on a straight-line basis over the lease term. Certain operating leases provide for annual increases to lease payments based on an index. The Company calculates the present value of future lease payments based on the index or rate at the lease commencement date. Differences in lease payments resulting from changes in an index or rate are recognized are expensed as incurred and are not material for all periods presented. The lease agreements generally do not contain any residual value guarantees or restrictive covenants. Operating lease expense for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 were $18 million, $16 million, and $19 million, respectively. The Company does not have any finance leases. The balances for the operating leases, which are presented on the consolidated balance sheets in other long-term assets, other current liabilities and long-term liabilities, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | December 27, | ​ ​ ​ | December 28,
U.S. dollars in millions | ​ ​ ​ | 2025 | ​ ​ ​ | 2024
Operating lease right-of-use assets | ​ | $ | 50 | ​ ​ ​ | $ | 47
Operating lease liabilities: |  | ​ | ​ | ​ |  | ​
Current portion of lease liabilities |  | ​ | 18 | ​ |  | 13
Long-term lease liabilities |  | ​ | 44 | ​ |  | 37
Total operating lease liabilities |  | $ | 62 | ​ | $ | 50
​ As of December 27, 2025 and December 28, 2024, the weighted average remaining lease term was 4.06 and 4.31 years, respectively, and the weighted average discount rate was 5.01% and 4.94%, respectively. Supplemental information related to operating leases was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | Year ended
​ | ​ | December 27, | ​ | December 28, | ​ | December 30,
U.S. dollars in millions | ​ | 2025 | ​ ​ ​ | 2024 | ​ ​ ​ | 2023
Operating cash outflows from operating leases | ​ | $ | 18 | ​ | $ | 16 | ​ | $ | 16
Right-of-use assets recognized in exchange for lease obligations | ​ | $ | 19 | ​ | $ | 13 | ​ | $ | 8
​ Maturities of operating lease liabilities were as follows: ​
​ | ​ | ​ | ​
​ | ​ ​ ​ | December 27,
U.S. Dollars in millions | ​ | 2025
2026 | ​ | $ | 20
2027 | ​ |  | 17
2028 | ​ |  | 14
2029 | ​ |  | 9
2030 and thereafter | ​ |  | 8
Total operating lease payments | ​ |  | 68
Imputed interest | ​ |  | (6)
Present value of lease liabilities | ​ | $ | 62
​ During 2017, the Company obtained the right to use land in Jerusalem from the Israeli government for the construction of a new research and development and innovation center that now hosts the Company’s headquarters (the new Jerusalem Campus). This land lease was fully prepaid and no lease liability was recorded. This operating lease right of use asset is carried at cost and amortized using the straight-line method. This operating lease right of use asset, net of amortization, was $11 million and $11 million as of December 27, 2025 and December 28, 2024, respectively, and is included in other long-term assets on the consolidated balance sheets.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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