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Leases | 3 Months Ended
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Mar. 29, 2025
Leases [Abstract] |
Leases | Leases We lease real estate space under non-cancelable operating lease agreements for commercial and industrial space, as well as for a portion of our corporate headquarters located in Livermore, California. Our leases have remaining terms of one to nine years, and some leases include options to extend up to twenty years. We also have operating leases for automobiles with remaining lease terms of one year. We did not include any of our renewal options in our lease terms for calculating our lease liability as the renewal options allow us to maintain operational flexibility and we are not reasonably certain we will exercise these options at this time. The weighted-average remaining lease term for our operating leases was four years as of March 29, 2025 and the weighted-average discount rate was 4.7%. The components of lease expense were as follows (in thousands):
| Three Months Ended |  |
| March 29, 2025 |  | March 30, 2024 |  |  |  |
Lease expense: |  |  |  |  |  |  |
Operating lease expense | $ | 2,151 |  |  | $ | 2,130 |  |  |  |  |
Short-term lease expense | 104 |  |  | 60 |  |  |  |  |
Variable lease expense | 780 |  |  | 810 |  |  |  |  |
| $ | 3,035 |  |  | $ | 3,000 |  |  |  |  |
Future minimum payments under our non-cancelable operating leases were as follows as of March 29, 2025 (in thousands):
Fiscal Year |  | Amount
Remainder of 2025 |  | $ | 6,834 |
2026 |  | 7,643 |
2027 |  | 7,212 |
2028 |  | 3,902 |
2029 |  | 241 |
Thereafter |  | 1,161 |
Total minimum lease payments |  | 26,993 |
Less: interest |  | (2,552) |
Present value of net minimum lease payments |  | 24,441 |
Less: current portion |  | (8,461) |
Total long-term operating lease liabilities |  | $ | 15,980 |

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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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