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Leases | 12 Months Ended
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Sep. 28, 2024
Leases [Abstract] |
Leases | Leases In July 2023, as part of the Company's ongoing evaluation of real estate needs and overall lease consolidation initiatives, the Company entered into a lease agreement for a new headquarters location for approximately 50,000 square feet of office space located in Goleta, California. The lease expires in May 2031, with no option to extend. The Company took possession of the leased premises in October 2023, resulting in an increase in right-of-use assets and lease liabilities totaling $7.4 million and $7.8 million, respectively. The Company relocated to this space on June 20, 2024. The components of lease expense for the fiscal year ended September 28, 2024, was as follows:
| Year Ended September 28, 2024
(In thousands) |
Operating lease cost | $ | 13,565 |
Short-term lease cost | 873 |
Variable lease cost | 5,193 |
Total lease cost | $ | 19,631 |
For the fiscal years ended September 28, 2024, and September 30, 2023, rent expense, including leases for offices and facilities as well as auto leases, was $14.4 million and $12.7 million, respectively, and common area maintenance expense was $5.2 million and $5.5 million, respectively. The following table summarizes the maturity of lease liabilities under operating leases as of September 28, 2024:
Fiscal years ending | Operating leases
(In thousands) |
2025 | $ | 8,701 |
2026 | 9,768 |
2027 | 8,344 |
2028 | 7,857 |
2029 | 7,830 |
Thereafter | 41,105 |
Total lease payments | 83,605 |
Less imputed interest | (19,469) |
Total lease liabilities | $ | 64,136 |

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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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