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Note 7 - Leases | 6 Months Ended
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Jul. 03, 2021
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | Note 7 - Leases We have operating leases for corporate offices, sales offices, research and development facilities, storage facilities, and a data center, the terms of which are described in our 2020 10-K. In the first quarter of fiscal 2021, we extended the leases for our Hillsboro, Oregon and Shanghai, China facilities, which resulted in approximately $7.2 million of the increase in right-of-use assets and operating lease liabilities. All of our facilities are leased under operating leases, which expire at various times through 2028, with a weighted-average remaining lease term of 4.6 years and a weighted-average discount rate of 5.3% as of July 3, 2021. We recorded fixed operating lease expenses of $2.0 million and $1.9 million for the second quarter of fiscal 2021 and 2020, respectively, and $3.9 and $3.8 million for the first six months of fiscal 2021 and 2020, respectively. The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during the first six months of fiscal 2021:
Operating lease right-of-use assets |  | (in thousands) |
Balance as of January 2, 2021 |  | $ | 22,178 |
Right-of-use assets obtained for new and modified lease contracts during the period |  |  | 7,459 |
Amortization of right-of-use assets during the period |  |  | (3,291 | )
Adjustments for present value and foreign currency effects |  |  | 84 |
Balance as of July 3, 2021 |  | $ | 26,430 |
Operating lease liabilities |  | (in thousands) |
Balance as of January 2, 2021 |  | $ | 23,055 |
Lease liabilities incurred for new lease contracts during the period |  |  | 7,459 |
Accretion of lease liabilities |  |  | 657 |
Operating cash used by payments on lease liabilities |  |  | (3,984 | )
Adjustments for present value and foreign currency effects |  |  | 81 |
Balance as of July 3, 2021 |  |  | 27,268 |
Less: Current portion of operating lease liabilities (included in Accrued expenses) |  |  | (4,811 | )
Long-term operating lease liabilities, net of current portion |  | $ | 22,457 |
Maturities of operating lease liabilities as of July 3, 2021 are as follows:
Fiscal year |  | (in thousands) |
2021 (remaining 2 quarters) |  | $ | 2,564 |
2022 |  |  | 7,133 |
2023 |  |  | 7,189 |
2024 |  |  | 5,881 |
2025 |  |  | 3,664 |
Thereafter |  |  | 4,614 |
Total lease payments |  |  | 31,045 |
Less: amount representing interest |  |  | (3,777 | )
Total lease liabilities |  | $ | 27,268 |
Lease obligations for facilities restructured prior to the adoption of Topic 842 totaled approximately $7.7 million at July 3, 2021 and continued to be recorded in Other long-term liabilities on our 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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