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Leases | 12 Months Ended
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Dec. 29, 2024
Leases [Abstract] |
Leases | Leases The Company leases administrative, R&D, sales and marketing and manufacturing facilities and certain equipment under various non-cancelable lease agreements. Facility leases generally provide for periodic rent increases, and may contain clauses for rent escalation, renewal options or early termination. Operating lease cost for fiscal years ended 2024, 2023 and 2022 was $40.4 million, $38.4 million and $26.4 million, respectively. Variable lease cost for fiscal years ended 2024, 2023 and 2022 was $13.2 million, $9.8 million and $5.6 million, respectively. Finance leases are immaterial to the Company’s Consolidated Financial Statements. The supplemental cash flow information related to operating leases during the respective periods was as follows:
| Fiscal Year Ended
(In millions) | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 38.9 |  |  | $ | 36.5 |  |  | $ | 25.2 |
ROU assets obtained in exchange for new lease liabilities (1) | $ | 30.5 |  |  | $ | 17.9 |  |  | $ | 29.9 |
(1) Summers Ridge Lease — The Company leases four buildings that are located on the Summers Ridge property in San Diego, California with an initial term through January 2033 with options to extend the lease for two additional five-year terms upon satisfaction of certain conditions, which have not been included in the determination of the lease term. The must-take provisions related to the fourth building became effective in November 2022 upon expiration of the previous tenant’s lease. As a result, the Company recorded a ROU asset and a corresponding lease liability of approximately $20.6 million in November 2022. The Company leases its facilities and certain equipment. Commitments for minimum rentals under non-cancelable operating leases at the end of fiscal year ended 2024 were as follows:
(In millions) |  |  |
2025 | $ | 38.8 |  |
2026 | 34.2 |  |
2027 | 28.5 |  |
2028 | 26.6 |  |
2029 | 22.5 |  |
Thereafter | 80.3 |  |
Total lease payments | 230.9 |  |
Less: imputed interest | (32.6) |  |
Total | 198.3 |  |
Less: current portion | (31.1) |  |
Non-current portion | $ | 167.2 |  |
Weighted average remaining lease term | 7.7 years |  |
Weighted average discount rate | 4 | % |  |

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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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