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Leases | 12 Months Ended
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Jun. 24, 2023
Leases Commitments And Contingencies [Abstract] |
Leases | 9. Leases Our leases primarily include our headquarters office and worldwide office and research and development facilities which are all classified as operating leases. Certain leases include renewal options that are under our discretion. The leases expire at various dates through fiscal year 2034, some of which include options to extend the lease for up to seven years. During fiscal 2023 and 2022, we recorded approximately $12.0 million and $12.7 million of operating leases expense, respectively. Our short-term leases are immaterial and we do not have finance leases. As of the end of fiscal 2023 and 2022, the components of leases are as follows (in millions):
|  | 2023 |  |  | 2022 |
Operating lease right-of-use assets |  | $ | 49.0 |  |  | $ | 61.2 |
Operating lease liabilities |  | $ | 9.0 |  |  | $ | 7.6 |
Operating lease liabilities, long-term |  |  | 42.4 |  |  |  | 51.5 |
Total operating lease liabilities |  | $ | 51.4 |  |  | $ | 59.1 |
Supplemental cash flow information related to leases is as follows (in millions):
|  | 2023 |  |  | 2022 |
Cash paid for operating leases included in operating cash flows |  | $ | 10.6 |  |  | $ | 12.5 |
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets |  |  | 7.3 |  |  |  | 42.5 |
As of the end of fiscal 2023, the weighted average remaining lease term was 7.38 years, and the weighted average discount rate was 5.15%. Future minimum lease payments for the operating lease liabilities are as follows (in millions):
|  | Operating |
|  | Lease |
Fiscal Year |  | Payments |
2024 |  | $ | 10.3 |
2025 |  |  | 9.9 |
2026 |  |  | 8.4 |
2027 |  |  | 7.4 |
2028 |  |  | 5.9 |
Thereafter |  |  | 20.2 |
Total future minimum operating lease payments |  |  | 62.1 |
Less: interest |  |  | (10.7 | )
Total lease liabilities |  | $ | 51.4 |
Sale and Leaseback Transaction On February 8, 2022, we executed a sale and leaseback transaction of our properties located at 1109-1251 McKay Drive and 1140-1150 Ringwood Court, San Jose, California, for a purchase price, net of closing and other expenses payable by us, of $55.9 million. Concurrent with the sale, we entered into a lease agreement with the buyer to lease back the land and properties located at 1109 and 1151 McKay Drive, San Jose, California, for an initial term of 12 years and a renewal option for an additional seven years. The transaction qualified for sale and leaseback and operating lease accounting classification, and we recorded a gain of $5.4 million which is recorded in the gain on sale and leaseback transaction line in the consolidated statements of operations.

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- Definition Leases, Commitments and Contingencies. + References No definition available. + Details
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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 https://asc.fasb.org/subtopic&trid=77888251 + Details
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