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Operating Leases | 9 Months Ended
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Sep. 26, 2025
Leases [Abstract] |
Operating Leases | Note 8 — Operating Leases The Company entered into operating leases primarily related to real property (office, manufacturing and warehouse facilities), automobiles and copiers. These operating leases are two to ten years in length with options to extend. The Company does not include any lease extensions in the initial valuation unless the Company was reasonably certain to extend the lease. Depending on the lease, there are those with fixed payment amounts for the entire length of the contract or payments which increase periodically as noted in the contract or increased at an inflation rate indicator. For operating leases that increase using an inflation rate indicator, the Company used the inflation rate at the time the lease was entered into for the length of the lease term. Supplemental balance sheet information related to operating leases consisted of the following (in thousands):
|  | September 26, 2025 |  |  | December 27, 2024 |
Machinery and equipment |  | $ | 782 |  |  | $ | 758 |
Computer equipment and software |  |  | 413 |  |  |  | 446 |
Real property |  |  | 44,095 |  |  |  | 47,648 |
Operating lease right-of-use assets, gross |  |  | 45,290 |  |  |  | 48,852 |
Less accumulated depreciation |  |  | (13,951 | ) |  |  | (12,002 | )
Operating lease right-of-use assets, net |  | $ | 31,339 |  |  | $ | 36,850 |
Current operating lease obligations |  | $ | 5,314 |  |  | $ | 3,894 |
Long-term operating lease obligations |  |  | 33,803 |  |  |  | 34,807 |
Total operating lease liability |  | $ | 39,117 |  |  | $ | 38,701 |
Weighted-average remaining lease term (in years) |  |  | 6.7 |  |  |  | 7.1 |
Weighted-average discount rate |  |  | 6.04 | % |  |  | 5.98 | %
As discussed in Note 1, during the nine months ended September 26, 2025, the Company recognized impairment on real property right-of-use assets of $4,083,000, respectively. The impairment relates to the Company’s decision to exit three of its leased properties, for which the Company has obtained a subtenant for one of its properties and is actively pursuing subleasing for the other two properties. The impairment was determined based on market comparables of similar subleased properties. The impairment is recorded in Restructuring, impairment and related charges on the Condensed Consolidated Statements of Operations. Note 8 — Operating Leases (Continued) Supplemental cash flow information related to operating leases was as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 26, 2025 |  |  | September 27, 2024 |  |  | September 26, 2025 |  |  | September 27, 2024 |
Operating lease cost |  | $ | 1,757 |  |  | $ | 2,128 |  |  | $ | 5,704 |  |  | $ | 6,440 |
Cash paid for amounts included in the measurement of operating lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows |  |  | 1,724 |  |  |  | 1,578 |  |  |  | 5,037 |  |  |  | 4,443 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 91 |  |  |  | 4,254 |  |  |  | 2,024 |  |  |  | 7,740 |
Future Maturities of Lease Liabilities Estimated future maturities of lease liabilities under operating and finance leases having initial or remaining non-cancelable lease terms more than one year as of September 26, 2025 is as follows (in thousands): .
As of September 26, 2025 12 Months Ended |  | Operating Leases |
September 2026 |  | $ | 7,605 |
September 2027 |  |  | 7,767 |
September 2028 |  |  | 6,759 |
September 2029 |  |  | 6,955 |
September 2030 |  |  | 6,274 |
Thereafter |  |  | 14,495 |
Total future minimum lease payments |  |  | 49,855 |
Less amounts representing interest |  |  | (10,738 | )
Total lease liability |  | $ | 39,117 |

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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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