XML 31 R20.htm IDEA: XBRL DOCUMENT v3.26.1
LEASES
3 Months Ended
Mar. 28, 2026
Leases  
LEASES

13. LEASES

 

The Company enters into operating leases primarily for: real estate, including for manufacturing, engineering, research, administration and sales facilities, and information technology (“IT”) equipment. At March 28, 2026 and December 27, 2025, the Company did not have any finance leases. Approximately all of its future lease commitments, and related lease liability, relate to the Company’s real estate leases. Some of the Company’s leases include options to extend or terminate the lease.

 

The components of lease expense were as follows:

 

   Three months ended   Three months ended 
   March 28, 2026   March 29, 2025 
Operating lease cost  $184,402   $216,147 

 

At March 28, 2026, the Company’s future lease payments under non-cancellable leases were as follows:

 

      
2026 (excluding the three months ended March 28, 2026)  $549,933 
2027   669,255 
2028   201,333 
2029     
2030     
Total future lease payments   1,420,521 
Less effects of discounting   (97,791)
Total  $1,322,730 

 

The Company’s lease liabilities recognized in the Company’s condensed consolidated balance sheet at March 28, 2026 were as follows:

 

   March 28, 2026 
Operating lease liabilities–current  $661,355 
Operating lease liabilities–noncurrent   661,375 
Total lease liabilities  $1,322,730 

 

Supplemental cash flow information related to leases was as follows:

 

   Three months ended   Three months ended 
   March 28, 2026   March 29, 2025 
Cash paid for amounts included in the measurement of operating lease liabilities  $182,677   $215,549 

 

Other information related to leases was as follows:

 

   March 28, 2026   March 29, 2025 
Weighted Average Discount Rate–Operating Leases   6.77%   6.80%
Weighted Average Remaining Lease Term–Operating Leases (in years)   1.99    2.96