XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.26.1

Variable Interest Entity | 6 Months Ended
--- | ---
Jun. 28, 2026
Condensed Financial Information Disclosure [Abstract] |
Variable Interest Entity | Variable Interest Entity Oxbow Realty was established for the purpose of holding real estate and facilitating real estate transactions on behalf of Oxbow Industries. This included facilitating the purchase of the land and building of SkyWater’s Minnesota facility with proceeds from a bank loan (see Note 7 – Debt) and managing the leaseback of the land and building to SkyWater (see Note 11 – Related Party Transactions). Management determined that Oxbow Realty meets the definition of a VIE under Accounting Standards Codification Topic 810, “Consolidations” (“Topic 810”), because it lacks sufficient equity to finance its activities. Furthermore, the Company is the primary beneficiary of Oxbow Realty as it has the power over those activities that most significantly affect Oxbow Realty’s economic performance, mainly activities focused on the operation and maintenance of the Minnesota facility. As the primary beneficiary, the Company consolidates the assets, liabilities, and results of operations of Oxbow Realty pursuant to Topic 810, eliminating any transactions between the Company and Oxbow Realty, and recording a noncontrolling interest for the economic interest in Oxbow Realty attributable to parties other than the Company’s common stock shareholders. In addition, the assets of Oxbow Realty can only be used to settle its liabilities, and the creditors of Oxbow Realty do not have recourse to the general credit of SkyWater. The following table shows the carrying amounts of assets and liabilities of Oxbow Realty that are consolidated by the Company as of June 28, 2026 and December 28, 2025. The assets and liabilities are presented prior to the elimination of intercompany balances.
| June 28, 2026 |  | December 28, 2025
Cash and cash equivalents | $ | 256 |  |  | $ | 742 |
Accounts receivable | 1,610 |  |  | 1,503 |
Finance receivable | 41,882 |  |  | 41,556 |
Other assets | 139 |  |  | 77 |
Total assets | $ | 43,887 |  |  | $ | 43,878 |
Accounts payable | $ | 1,610 |  |  | $ | 1,503 |
Accrued expenses | — |  |  | 7 |
Contract liabilities | 770 |  |  | 872 |
Debt | 32,922 |  |  | 33,504 |
Total liabilities | $ | 35,302 |  |  | $ | 35,886 |
The following table shows the revenue and expenses of Oxbow Realty for the three- and six-month periods ended June 28, 2026 and June 29, 2025. These results of Oxbow Realty are presented prior to the elimination of intercompany transactions.
| Three-Month Period Ended |  | Six-Month Period Ended
| June 28, 2026 |  | June 29, 2025 |  | June 28, 2026 |  | June 29, 2025
Revenue | $ | 1,451 |  |  | $ | 1,438 |  |  | $ | 2,898 |  |  | $ | 2,872 |
General and administrative expenses | 7 |  |  | 13 |  |  | 10 |  | 16
Interest expense | 226 |  |  | 304 |  |  | 514 |  | 608
Total expenses | 233 |  |  | 317 |  |  | 524 |  | 624
Net income | $ | 1,218 |  |  | $ | 1,121 |  |  | $ | 2,374 |  |  | $ | 2,248 |

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
Name: | us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration