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v3.21.2

Guarantees, Commitments and Contingencies (Tables) | 12 Months Ended
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Oct. 02, 2021
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Supplemental Cash Flow Information | The components of lease costs included on the Consolidated Statements of Operations are as follows:
(in thousands) |  |  |  | Fiscal Years Ended |  |
Lease cost |  | Classification |  | 2021 |  | 2020 |  |
Operating leases |  | Selling, general and administrative expenses |  | $ | 1,149 |  |  | $ | 1,440 |  |  |
Finance leases |  |  |  |  |  |  |  |
Amortization of lease assets |  | Cost of goods sold |  | 1,497 |  |  | 1,168 |  |  |
Interest on lease liabilities |  | Interest expense |  | 241 |  |  | 238 |  |  |
Short-term leases (1) |  | Cost of goods sold or selling, general and administrative expenses |  | 487 |  |  | 1,390 |  |  |
Total lease cost |  |  |  | $ | 3,374 |  |  | $ | 4,236 |  |  |
(1) Short-term lease cost includes both leases and rentals with initial terms of one year or less. Classification depends on the purpose of the underlying lease. Supplemental cash flow information is presented in the following table:
|  | Fiscal Years Ended
(in thousands) |  | 2021 |  | 2020 |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows - operating leases |  | $ | 1,394 |  |  | $ | 1,711 |  |  |
Operating cash flows - finance leases |  | 241 |  |  | 238 |  |  |
Financing cash flows - finance leases |  | 1,294 |  |  | 945 |  |  |
Right-of-use assets exchanged for lease liabilities |  |  |  |  |  |
Operating leases |  | $ | 62 |  |  | $ | — |  |  |
Finance leases |  | — |  |  | 3,496 |  |  |
Schedule of Supplemental Balance Sheet Information | The following table summarizes the lease amounts included on the Consolidated Balance Sheets as follows:
(in thousands) |  | Balance Sheet Location |  | October 2, 2021 |  | October 3, 2020
Assets |  |  |  |  |  |
Operating |  | Property, plant and equipment |  | $ | 5,152 |  |  | $ | 5,857 |
Finance (1) |  | Finance lease right-of-use |  | 5,486 |  |  | 6,983 |
Total lease assets |  |  |  | $ | 10,638 |  |  | $ | 12,840 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other current liabilities |  | $ | 1,158 |  |  | $ | 1,060 |
Finance |  | Finance lease obligations |  | 1,327 |  |  | 1,280 |
Long-term |  |  |  |  |  |
Operating |  | Other liabilities |  | 5,529 |  |  | 6,651 |
Finance |  | Finance lease obligations |  | 4,538 |  |  | 5,879 |
Total lease liabilities |  |  |  | $ | 12,552 |  |  | $ | 14,870 |
(1) Net of accumulated amortization of $2.8 million and $1.3 million, respectively. Lease terms and discount rates are presented in the following table:
|  | October 2, 2021
|  | Operating |  | Finance
Weighted average remaining lease term |  | 5.3 years |  | 3.6 years
Weighted average discount rate |  | 4.6 | % |  | 3.8 | %
Schedule of Operating Lease Liability Maturities | Lease liability maturities are presented in the following table:
(in thousands) |  | October 2, 2021
Fiscal Years Ended |  | Operating |  | Finance |  | Total
2022 |  | $ | 1,437 |  |  | $ | 1,530 |  |  | $ | 2,967 |
2023 |  | 1,427 |  |  | 1,530 |  |  | 2,957 |
2024 |  | 1,444 |  |  | 1,530 |  |  | 2,974 |
2025 |  | 1,456 |  |  | 1,742 |  |  | 3,198 |
2026 |  | 1,097 |  |  | — |  |  | 1,097 |
Thereafter |  | 685 |  |  | — |  |  | 685 |
Total future minimum lease payments |  | 7,546 |  |  | 6,332 |  |  | 13,878 |
Less: imputed interest |  | 859 |  |  | 467 |  |  | 1,326 |
Total lease liabilities |  | $ | 6,687 |  |  | $ | 5,865 |  |  | $ | 12,552 |
Schedule of Finance Lease Liability Maturities | Lease liability maturities are presented in the following table:
(in thousands) |  | October 2, 2021
Fiscal Years Ended |  | Operating |  | Finance |  | Total
2022 |  | $ | 1,437 |  |  | $ | 1,530 |  |  | $ | 2,967 |
2023 |  | 1,427 |  |  | 1,530 |  |  | 2,957 |
2024 |  | 1,444 |  |  | 1,530 |  |  | 2,974 |
2025 |  | 1,456 |  |  | 1,742 |  |  | 3,198 |
2026 |  | 1,097 |  |  | — |  |  | 1,097 |
Thereafter |  | 685 |  |  | — |  |  | 685 |
Total future minimum lease payments |  | 7,546 |  |  | 6,332 |  |  | 13,878 |
Less: imputed interest |  | 859 |  |  | 467 |  |  | 1,326 |
Total lease liabilities |  | $ | 6,687 |  |  | $ | 5,865 |  |  | $ | 12,552 |
Contractual Obligation, Fiscal Year Maturity | In the ordinary course of business, the Company enters into short-term contractual purchase orders for manufacturing inventory and capital assets. The amount of these commitments is expected to be as follows:
(in thousands) |  |
Fiscal Years Ended |  | Amount
2022 |  | $ | 58,579 |
2023 |  | 69 |
Total purchase commitments |  | $ | 58,648 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 303 -Paragraph (a) -Subparagraph (5) + Details
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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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