XML 24 R15.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Lease Commitments | 12 Months Ended
--- | ---
Dec. 29, 2023
Leases [Abstract] |
Lease Commitments | 7. Lease Commitments The Company has operating leases for office space and, to a much lesser extent, operating leases for equipment. The Company’s office leases are between terms of 1 year and 5 years. Rents usually increase annually in accordance with defined rent steps or are based on current year consumer price index adjustments. Some of the lease agreements contain one or more of the following provisions or clauses: tenant allowances, rent holidays, lease premiums, and rent escalation clauses. There are typically no purchase options, residual value guarantees or restrictive covenants. When renewal options exist, the Company generally does not deem them to be reasonably certain to be exercised, and therefore the amounts are not recognized as part of our lease liability nor our right-of use-asset. The weighted average remaining lease term is 2.8 years. The weighted average discount rate utilized is 4%. The discount rates applied to each lease, reflects the Company’s estimated incremental borrowing rate. This includes an assessment of the Company’s credit rating to determine the rate that the Company would have to pay to borrow, on a collateralized basis for a similar term, an 7. Lease Commitments (continued) amount equal to the Company’s lease payments in a similar economic environment. For the twelve months ended December 29, 2023, the Company paid $1.4 million from operating cash flows for operating leases. The Company has operating lease agreements for its premises that expire on various dates through July 2028. Lease expense for the years ended December 29, 2023, December 30, 2022, and December 31, 2021 was $1.1 million, $1.2 million and $1.0 million, respectively. The components of lease expense during the fiscal years ended December 29, 2023, December 30, 2022, and December 31, 2021, all related to operating lease costs. Future minimum lease commitments under non-cancelable operating leases as of December 29, 2023, are as follows (in thousands):
|  |  |  | Rental |
|  |  |  | Payments |
2024 |  |  |  | $ | 1,083 |
2025 |  |  |  |  | 260 |
2026 |  |  |  |  | 222 |
2027 |  |  |  |  | 228 |
2028 |  |  |  |  | 137 |
Total lease payments |  |  |  |  | 1,930 |
Less imputed interest |  |  |  |  | (107 | )
Total |  |  |  | $ | 1,823 |
As of December 29, 2023, the Company does not have any additional operating leases that have not yet commenced that create significant rights and obligations for the Company.

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

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration