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Leases (Tables)
3 Months Ended
Sep. 26, 2024
Leases [Abstract]  
Supplemental information related to operating lease right-of-use assets and liabilities

The following table provides supplemental information related to operating lease right-of-use assets and liabilities:

 

September 26,
2024

 

 

June 27,
2024

 

 

September 28,
2023

 

 

Affected Line Item in Consolidated Balance Sheets

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

$

28,034

 

 

$

27,404

 

 

$

6,845

 

 

Operating lease right-of-use assets

Total lease right-of-use assets

$

28,034

 

 

$

27,404

 

 

$

6,845

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

 

 

 

Operating leases

$

3,383

 

 

$

2,623

 

 

$

1,775

 

 

Other accrued expenses

Noncurrent:

 

 

 

 

 

 

 

 

 

 

Operating leases

 

25,167

 

 

 

24,877

 

 

 

5,136

 

 

Long-term operating lease liabilities

Total lease liabilities

$

28,550

 

 

$

27,500

 

 

$

6,911

 

 

 

 

Summary of company's total lease costs and other information arising from operating lease transactions

The following tables summarize the Company’s total lease costs and other information arising from operating lease transactions:

 

 

For the Quarter Ended

 

 

September 26,
2024

 

 

September 28,
2023

 

Operating lease costs (a)

 

$

1,742

 

 

$

670

 

Variable lease costs (b)

 

 

172

 

 

 

(174

)

Total lease cost

 

$

1,914

 

 

$

496

 

 

(a)
Includes short-term leases which are immaterial.
(b)
Variable lease costs consist of property taxes, sales tax, insurance and lease overtime charges.
Summary of Supplemental cash flow and other information related to leases

Supplemental cash flow and other information related to leases was as follows:

 

 

For the Quarter Ended

 

 

September 26,
2024

 

 

September 28,
2023

 

Operating cash flows information:

 

 

 

 

 

 

Cash paid for amounts included in measurements for lease liabilities

 

$

1,073

 

 

$

578

 

 

 

 

 

 

 

 

Non-cash activity:

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

$

1,714

 

 

$

860

 

Summary of other information

 

September 26,
2024

 

 

June 27,
2024

 

 

September 28,
2023

 

Weighted average remaining lease term (in years)

 

 

6.3

 

 

 

6.6

 

 

 

4.4

 

Weighted average discount rate

 

 

6.8

%

 

 

6.8

%

 

 

6.8

%

 

 

Summary of maturities of operating lease liabilities

Maturities of operating lease liabilities as of September 26, 2024 are as follows:

 

Fiscal Year Ending

 

 

 

June 26, 2025 (excluding the quarter ended September 26, 2024)

 

$

3,629

 

June 25, 2026

 

 

5,610

 

June 24, 2027

 

 

5,723

 

June 29, 2028

 

 

5,602

 

June 28, 2029

 

 

4,709

 

June 27, 2030

 

 

3,864

 

Thereafter

 

 

6,392

 

Total lease payment

 

 

35,529

 

Less imputed interest

 

 

(6,979

)

Present value of operating lease liabilities

 

$

28,550

 

Summary of operating lease revenue

Leasing revenue is as follows:

 

 

For the Quarter Ended

 

 

September 26,
2024

 

 

September 28,
2023

 

Lease income related to lease payments

 

$

479

 

 

$

444

 

Undiscounted fixed lease consideration under non-cancelable tenant operating leases

The future minimum, undiscounted fixed cash flows under non-cancelable tenant operating leases for each of the next five years and thereafter are as follows:

 

Fiscal Year Ending

 

 

 

June 26, 2025 (excluding the quarter ended September 26, 2024)

 

$

970

 

June 25, 2026

 

 

972

 

June 24, 2027

 

 

930

 

June 29, 2028

 

 

328

 

June 28, 2029

 

 

336

 

June 27, 2030

 

 

343

 

Thereafter

 

 

1,135

 

 

$

5,014