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Leases | 12 Months Ended
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Dec. 28, 2025
Leases [Abstract] |
Leases | Leases The Company has operating and finance leases for corporate and field offices, equipment yards, construction equipment and transportation vehicles. The Company is currently not a lessor in any significant lease arrangements. The Company’s leases have remaining lease terms of up to 13 years. Some of these leases include options to extend the leases, generally for optional terms of up to five years, and some include options to terminate the leases within one year. The equipment leases may include variable payment terms in addition to the fixed lease payments if machinery is used in excess of the standard work periods. The occurrence of these variable payments is not probable under the Company’s current operating environment and has not been included in consideration of lease payments. Leases with an initial term of 12 months or less are classified as short-term leases and are not recognized on the consolidated balance sheets unless the lease contains a purchase option that is reasonably certain to be exercised, or unless it is reasonably certain that the equipment or property will be leased for greater than 12 months. Due to the seasonality of the Company’s operations, expense for short-term leases will fluctuate throughout the year with higher expense typically incurred during the periods when revenue is the greatest. As of December 28, 2025, the Company did not have any significant executed lease agreements that had not yet commenced. The components of lease expense were as follows (in thousands):
|  |  |  | Fiscal Year Ended
Lease cost | Classification |  |  |  |  | December 28, 2025 |  | December 29, 2024 |  | December 31, 2023
Operating lease cost | Cost of revenue and selling, general and administrative expenses |  |  |  |  | $ | 28,842 |  |  | $ | 26,565 |  |  | $ | 22,162 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets | Depreciation (1) |  |  |  |  | 5,570 |  |  | 7,831 |  |  | 7,780 |
Interest on lease liabilities | Interest expense, net |  |  |  |  | 924 |  |  | 1,312 |  |  | 1,680 |
Total finance lease cost |  |  |  |  |  | 6,494 |  |  | 9,143 |  |  | 9,460 |
Short-term lease cost (2) | Cost of revenue and selling, general and administrative expenses |  |  |  |  | 124,802 |  |  | 103,465 |  |  | 122,333 |
Total lease cost |  |  |  |  |  | $ | 160,138 |  |  | $ | 139,173 |  |  | $ | 153,955 |
(1)Depreciation is included within cost of revenue in the accompanying consolidated statements of operations. (2)Short-term lease cost includes both leases and rentals with initial terms of 12 months or less. Supplemental cash flow information related to leases was as follows (in thousands):
| Fiscal Year Ended
| December 28, 2025 |  | December 29, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 27,847 |  |  | $ | 26,451 |  |  | $ | 21,908 |
Operating cash flows from finance leases | $ | 924 |  |  | $ | 1,312 |  |  | $ | 1,680 |
Financing cash flows from finance leases | $ | 9,418 |  |  | $ | 11,293 |  |  | $ | 12,113 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 94,167 |  |  | $ | 9,345 |  |  | $ | 50,173 |
Finance leases | $ | 70 |  |  | $ | 124 |  |  | $ | 1,625 |
Supplemental information related to leases was as follows:
| December 28, 2025 |  | December 29, 2024
Weighted average remaining lease term (in years): |  |  |
Operating leases | 6.17 |  | 6.72
Finance leases | 2.52 |  | 2.99
Weighted average discount rate: |  |  |
Operating leases | 5.74 | % |  | 5.05 | %
Finance leases | 4.98 | % |  | 4.27 | %
The following is a schedule of maturities of lease liabilities as of December 28, 2025 (in thousands):
| Operating Leases |  | Finance Leases
Fiscal year ended: |  |  |
2026 | $ | 39,971 |  |  | $ | 8,098 |
2027 | 38,556 |  |  | 6,200 |
2028 | 35,008 |  |  | 2,217 |
2029 | 31,087 |  |  | 826 |
2030 | 28,474 |  |  | 404 |
Thereafter | 45,174 |  |  | — |
Total lease payments | 218,270 |  |  | 17,745 |
Less: Amount of lease payments representing interest | (34,385) |  |  | (1,136) |
Total | $ | 183,885 |  |  | $ | 16,609 |
Certain leases require the Company to pay variable property taxes, insurance and maintenance costs that have been excluded from the minimum lease payments in the above tables as they are variable in nature. During the fiscal year ended December 28, 2025, the Company entered into sale-leaseback transactions for certain of its machinery and equipment. These sales generated $37.8 million in proceeds and resulted in the addition of operating lease right-of-use assets and lease liabilities of approximately $30.0 million. The Company recorded a net gain of $5.9 million as a result of these transactions. The leases will carry terms of 4 to 7 years. In addition to the sale-leaseback transactions, the Company also entered into several hundred long-term equipment leases (increase in operating lease right-of-use assets of $42.3 million) focused primarily on obtaining longer-term control over equipment that was previously being used under short-term rental agreements.
Leases | Leases The Company has operating and finance leases for corporate and field offices, equipment yards, construction equipment and transportation vehicles. The Company is currently not a lessor in any significant lease arrangements. The Company’s leases have remaining lease terms of up to 13 years. Some of these leases include options to extend the leases, generally for optional terms of up to five years, and some include options to terminate the leases within one year. The equipment leases may include variable payment terms in addition to the fixed lease payments if machinery is used in excess of the standard work periods. The occurrence of these variable payments is not probable under the Company’s current operating environment and has not been included in consideration of lease payments. Leases with an initial term of 12 months or less are classified as short-term leases and are not recognized on the consolidated balance sheets unless the lease contains a purchase option that is reasonably certain to be exercised, or unless it is reasonably certain that the equipment or property will be leased for greater than 12 months. Due to the seasonality of the Company’s operations, expense for short-term leases will fluctuate throughout the year with higher expense typically incurred during the periods when revenue is the greatest. As of December 28, 2025, the Company did not have any significant executed lease agreements that had not yet commenced. The components of lease expense were as follows (in thousands):
|  |  |  | Fiscal Year Ended
Lease cost | Classification |  |  |  |  | December 28, 2025 |  | December 29, 2024 |  | December 31, 2023
Operating lease cost | Cost of revenue and selling, general and administrative expenses |  |  |  |  | $ | 28,842 |  |  | $ | 26,565 |  |  | $ | 22,162 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets | Depreciation (1) |  |  |  |  | 5,570 |  |  | 7,831 |  |  | 7,780 |
Interest on lease liabilities | Interest expense, net |  |  |  |  | 924 |  |  | 1,312 |  |  | 1,680 |
Total finance lease cost |  |  |  |  |  | 6,494 |  |  | 9,143 |  |  | 9,460 |
Short-term lease cost (2) | Cost of revenue and selling, general and administrative expenses |  |  |  |  | 124,802 |  |  | 103,465 |  |  | 122,333 |
Total lease cost |  |  |  |  |  | $ | 160,138 |  |  | $ | 139,173 |  |  | $ | 153,955 |
(1)Depreciation is included within cost of revenue in the accompanying consolidated statements of operations. (2)Short-term lease cost includes both leases and rentals with initial terms of 12 months or less. Supplemental cash flow information related to leases was as follows (in thousands):
| Fiscal Year Ended
| December 28, 2025 |  | December 29, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 27,847 |  |  | $ | 26,451 |  |  | $ | 21,908 |
Operating cash flows from finance leases | $ | 924 |  |  | $ | 1,312 |  |  | $ | 1,680 |
Financing cash flows from finance leases | $ | 9,418 |  |  | $ | 11,293 |  |  | $ | 12,113 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 94,167 |  |  | $ | 9,345 |  |  | $ | 50,173 |
Finance leases | $ | 70 |  |  | $ | 124 |  |  | $ | 1,625 |
Supplemental information related to leases was as follows:
| December 28, 2025 |  | December 29, 2024
Weighted average remaining lease term (in years): |  |  |
Operating leases | 6.17 |  | 6.72
Finance leases | 2.52 |  | 2.99
Weighted average discount rate: |  |  |
Operating leases | 5.74 | % |  | 5.05 | %
Finance leases | 4.98 | % |  | 4.27 | %
The following is a schedule of maturities of lease liabilities as of December 28, 2025 (in thousands):
| Operating Leases |  | Finance Leases
Fiscal year ended: |  |  |
2026 | $ | 39,971 |  |  | $ | 8,098 |
2027 | 38,556 |  |  | 6,200 |
2028 | 35,008 |  |  | 2,217 |
2029 | 31,087 |  |  | 826 |
2030 | 28,474 |  |  | 404 |
Thereafter | 45,174 |  |  | — |
Total lease payments | 218,270 |  |  | 17,745 |
Less: Amount of lease payments representing interest | (34,385) |  |  | (1,136) |
Total | $ | 183,885 |  |  | $ | 16,609 |
Certain leases require the Company to pay variable property taxes, insurance and maintenance costs that have been excluded from the minimum lease payments in the above tables as they are variable in nature. During the fiscal year ended December 28, 2025, the Company entered into sale-leaseback transactions for certain of its machinery and equipment. These sales generated $37.8 million in proceeds and resulted in the addition of operating lease right-of-use assets and lease liabilities of approximately $30.0 million. The Company recorded a net gain of $5.9 million as a result of these transactions. The leases will carry terms of 4 to 7 years. In addition to the sale-leaseback transactions, the Company also entered into several hundred long-term equipment leases (increase in operating lease right-of-use assets of $42.3 million) focused primarily on obtaining longer-term control over equipment that was previously being used under short-term rental agreements.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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