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Lessee ROU Assets and Lease Liabilities | 3 Months Ended
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Mar. 29, 2025
Leases [Abstract] |
Lessee ROU Assets and Lease Liabilities | 11. Lessee ROU Assets and Lease Liabilities The Company leases certain facilities in North and South America, Europe, the Middle East and Asia-Pacific regions under operating lease agreements expiring at various dates through January 2032. In addition, the Company leases equipment in the U.S. and Europe pursuant to leases that are classified as operating leases and expire at various dates through January 2029. The majority of these leases are non-cancellable and generally do not contain any material restrictive covenants, material residual value guarantees, or other material guarantees. The Company recognizes lease costs under these agreements using a straight-line method based on total lease payments. Certain facility leases contain predetermined price escalations and in some cases renewal options, the longest of which is for five years. The Company generally estimates the applicabl e discount rate used to determine the net present value of lease payments based on available information at the lease commencement date. As of March 29, 2025, the weighted-average discount rate used by the Company for all operating leases was approximately 4.0%. The balance sheet classifications for amounts related to the Company’s operating leases for which it is the lessee are as follows:
(in millions) |  | Balance sheet classification |  | March 29, 2025 |  | December 28, 2024 |  |
Lessee ROU assets |  | Other non-current assets |  | $ | 27.7 |  |  | $ | 29.2 |  |  |
Lessee current lease liabilities |  | Other current liabilities |  | 8.8 |  |  | 9.7 |  |  |
Lessee non-current lease liabilities |  | Other non-current liabilities |  | 21.7 |  |  | 23.3 |  |  |
Total operating lease liabilities |  |  |  | $ | 30.5 |  |  | $ | 33.0 |  |  |
As of March 29, 2025 and December 28, 2024, accumulated amortization for lessee ROU assets was $33.2 million and $32.4 million, respectively. The weighted-average remaining lease term for the Company’s operating leases was 4.4 years as of March 29, 2025. As of March 29, 2025, estimated future operating lease payments for each of the following fiscal years were as follows:
Fiscal year |  | Amount (in millions)
2025 (balance of year) |  | $ | 7.7 |
2026 |  | 7.6 |
2027 |  | 6.0 |
2028 |  | 5.3 |
2029 |  | 3.6 |
Thereafter(1) |  | 3.0 |
Total |  | 33.2 |
Imputed interest |  | (2.7) |
Present value |  | $ | 30.5 |
______________ (1) Includes optional renewal period for certain leases. During the three months ended March 29, 2025 and March 30, 2024, operating lease costs were approximately $1.6 million and $2.6 million, respectively.

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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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