v3.25.4

Leases | 6 Months Ended
--- | ---
Dec. 28, 2025
Leases [Abstract] |
Leases | Leases Balance Sheet Lease assets and liabilities are as follows:
(in millions of U.S. Dollars) | Successor |  | Predecessor
Operating Leases: | December 28, 2025 |  | June 29, 2025
Right-of-use asset (1) | $97.5 |  |  | $123.1 |
Current lease liability (2) | 6.7 |  |  | 9.9 |
Non-current lease liability (3) | 100.1 |  |  | 139.5 |
Total operating lease liabilities | $106.8 |  |  | $149.4 |
Finance Leases: |  |  |
Finance lease assets (4) | $2.2 |  |  | $8.3 |
Current portion of finance lease liabilities(5) | 0.5 |  |  | 0.5 |
Finance lease liabilities, less current portion(6) | 1.8 |  |  | 8.4 |
Total finance lease liabilities | $2.3 |  |  | $8.9 |
(1) Within other assets on the consolidated balance sheets. (2) Within other current liabilities on the consolidated balance sheets. (3) Within other long-term liabilities on the consolidated balance sheets. (4) Within property and equipment, net on the consolidated balance sheets. (5) Within finance lease liabilities on the consolidated balance sheets. (6) Within finance lease liabilities - long term on the consolidated balance sheets. Statements of Operations
| Successor | Predecessor |  |
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | September 29, 2025 | Three months ended December 29, 2024 |  |  |  |
Operating lease expense | $4.9 | — |  | $4.1 |  |  |  |
Finance lease amortization | 0.1 |  | — |  | 0.2 |  |  |  |  |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Operating lease expense | $4.9 | 4.3 | $8.1
Finance lease amortization | 0.1 |  | 0.2 |  | 0.4 |
Interest expense for finance leases was immaterial for all periods presented. Cash Flows Cash flow information consisted of the following (1):
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Cash (used in) provided by operating activities from continuing operations: |  |  |
Cash paid for operating leases | ($6.1) |  | ($4.1) |  | ($4.1) |
Cash received for tenant allowance on operating lease | — |  | — |  | — |
Cash paid for interest portion of financing leases | — |  | (0.1) |  | (0.1) |
Cash used in financing activities: |  |  |
Cash paid for principal portion of finance leases | — |  | (0.1) |  | (0.1) |
(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases. Lease Liability Maturities Maturities of operating and finance lease liabilities as of December 28, 2025 were as follows:
(in millions of U.S. Dollars) | Successor
Fiscal Year Ending | Operating Leases | Finance Leases | Total
June 28, 2026 (remainder of fiscal 2026) | $9.8 |  | $0.5 |  | $10.3 |
June 27, 2027 | 17.2 |  | 0.4 |  | 17.6 |
June 25, 2028 | 16.8 |  | 0.2 |  | 17.0 |
June 24, 2029 | 16.6 |  | 0.2 |  | 16.8 |
June 30, 2030 | 16.0 |  | 0.2 |  | 16.2 |
Thereafter | 130.6 |  | 13.6 |  | 144.2 |
Total lease payments | 207.0 |  | 15.1 |  | 222.1 |
Future tenant improvement allowances | — |  | — |  | — |
Imputed lease interest | (100.2) |  | (12.8) |  | (113.0) |
Total lease liabilities | $106.8 |  | $2.3 |  | $109.1 |
Supplemental Disclosures Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of December 28, 2025 were as follows:
| Successor
| Operating Leases | Finance Leases
Weighted average remaining lease term (in months) (1) | 150 | 432
Weighted average discount rate (2) | 11.77 | % | 13.77 | %
(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 11 months. (2) Weighted average discount rate of finance leases without the 49-year ground lease is 5.66%. As of December 28, 2025, the Company has entered into an agreement containing operating leases for bulk gas equipment. This arrangement includes approximately $13 million of additional right of use liability obligations that have not yet commenced. The Company expects these operating leases will commence in future periods with initial lease terms of 15 years.
Leases | Leases Balance Sheet Lease assets and liabilities are as follows:
(in millions of U.S. Dollars) | Successor |  | Predecessor
Operating Leases: | December 28, 2025 |  | June 29, 2025
Right-of-use asset (1) | $97.5 |  |  | $123.1 |
Current lease liability (2) | 6.7 |  |  | 9.9 |
Non-current lease liability (3) | 100.1 |  |  | 139.5 |
Total operating lease liabilities | $106.8 |  |  | $149.4 |
Finance Leases: |  |  |
Finance lease assets (4) | $2.2 |  |  | $8.3 |
Current portion of finance lease liabilities(5) | 0.5 |  |  | 0.5 |
Finance lease liabilities, less current portion(6) | 1.8 |  |  | 8.4 |
Total finance lease liabilities | $2.3 |  |  | $8.9 |
(1) Within other assets on the consolidated balance sheets. (2) Within other current liabilities on the consolidated balance sheets. (3) Within other long-term liabilities on the consolidated balance sheets. (4) Within property and equipment, net on the consolidated balance sheets. (5) Within finance lease liabilities on the consolidated balance sheets. (6) Within finance lease liabilities - long term on the consolidated balance sheets. Statements of Operations
| Successor | Predecessor |  |
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | September 29, 2025 | Three months ended December 29, 2024 |  |  |  |
Operating lease expense | $4.9 | — |  | $4.1 |  |  |  |
Finance lease amortization | 0.1 |  | — |  | 0.2 |  |  |  |  |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Operating lease expense | $4.9 | 4.3 | $8.1
Finance lease amortization | 0.1 |  | 0.2 |  | 0.4 |
Interest expense for finance leases was immaterial for all periods presented. Cash Flows Cash flow information consisted of the following (1):
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Cash (used in) provided by operating activities from continuing operations: |  |  |
Cash paid for operating leases | ($6.1) |  | ($4.1) |  | ($4.1) |
Cash received for tenant allowance on operating lease | — |  | — |  | — |
Cash paid for interest portion of financing leases | — |  | (0.1) |  | (0.1) |
Cash used in financing activities: |  |  |
Cash paid for principal portion of finance leases | — |  | (0.1) |  | (0.1) |
(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases. Lease Liability Maturities Maturities of operating and finance lease liabilities as of December 28, 2025 were as follows:
(in millions of U.S. Dollars) | Successor
Fiscal Year Ending | Operating Leases | Finance Leases | Total
June 28, 2026 (remainder of fiscal 2026) | $9.8 |  | $0.5 |  | $10.3 |
June 27, 2027 | 17.2 |  | 0.4 |  | 17.6 |
June 25, 2028 | 16.8 |  | 0.2 |  | 17.0 |
June 24, 2029 | 16.6 |  | 0.2 |  | 16.8 |
June 30, 2030 | 16.0 |  | 0.2 |  | 16.2 |
Thereafter | 130.6 |  | 13.6 |  | 144.2 |
Total lease payments | 207.0 |  | 15.1 |  | 222.1 |
Future tenant improvement allowances | — |  | — |  | — |
Imputed lease interest | (100.2) |  | (12.8) |  | (113.0) |
Total lease liabilities | $106.8 |  | $2.3 |  | $109.1 |
Supplemental Disclosures Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of December 28, 2025 were as follows:
| Successor
| Operating Leases | Finance Leases
Weighted average remaining lease term (in months) (1) | 150 | 432
Weighted average discount rate (2) | 11.77 | % | 13.77 | %
(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 11 months. (2) Weighted average discount rate of finance leases without the 49-year ground lease is 5.66%. As of December 28, 2025, the Company has entered into an agreement containing operating leases for bulk gas equipment. This arrangement includes approximately $13 million of additional right of use liability obligations that have not yet commenced. The Company expects these operating leases will commence in future periods with initial lease terms of 15 years.
Leases | Leases Balance Sheet Lease assets and liabilities are as follows:
(in millions of U.S. Dollars) | Successor |  | Predecessor
Operating Leases: | December 28, 2025 |  | June 29, 2025
Right-of-use asset (1) | $97.5 |  |  | $123.1 |
Current lease liability (2) | 6.7 |  |  | 9.9 |
Non-current lease liability (3) | 100.1 |  |  | 139.5 |
Total operating lease liabilities | $106.8 |  |  | $149.4 |
Finance Leases: |  |  |
Finance lease assets (4) | $2.2 |  |  | $8.3 |
Current portion of finance lease liabilities(5) | 0.5 |  |  | 0.5 |
Finance lease liabilities, less current portion(6) | 1.8 |  |  | 8.4 |
Total finance lease liabilities | $2.3 |  |  | $8.9 |
(1) Within other assets on the consolidated balance sheets. (2) Within other current liabilities on the consolidated balance sheets. (3) Within other long-term liabilities on the consolidated balance sheets. (4) Within property and equipment, net on the consolidated balance sheets. (5) Within finance lease liabilities on the consolidated balance sheets. (6) Within finance lease liabilities - long term on the consolidated balance sheets. Statements of Operations
| Successor | Predecessor |  |
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | September 29, 2025 | Three months ended December 29, 2024 |  |  |  |
Operating lease expense | $4.9 | — |  | $4.1 |  |  |  |
Finance lease amortization | 0.1 |  | — |  | 0.2 |  |  |  |  |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Operating lease expense | $4.9 | 4.3 | $8.1
Finance lease amortization | 0.1 |  | 0.2 |  | 0.4 |
Interest expense for finance leases was immaterial for all periods presented. Cash Flows Cash flow information consisted of the following (1):
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Cash (used in) provided by operating activities from continuing operations: |  |  |
Cash paid for operating leases | ($6.1) |  | ($4.1) |  | ($4.1) |
Cash received for tenant allowance on operating lease | — |  | — |  | — |
Cash paid for interest portion of financing leases | — |  | (0.1) |  | (0.1) |
Cash used in financing activities: |  |  |
Cash paid for principal portion of finance leases | — |  | (0.1) |  | (0.1) |
(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases. Lease Liability Maturities Maturities of operating and finance lease liabilities as of December 28, 2025 were as follows:
(in millions of U.S. Dollars) | Successor
Fiscal Year Ending | Operating Leases | Finance Leases | Total
June 28, 2026 (remainder of fiscal 2026) | $9.8 |  | $0.5 |  | $10.3 |
June 27, 2027 | 17.2 |  | 0.4 |  | 17.6 |
June 25, 2028 | 16.8 |  | 0.2 |  | 17.0 |
June 24, 2029 | 16.6 |  | 0.2 |  | 16.8 |
June 30, 2030 | 16.0 |  | 0.2 |  | 16.2 |
Thereafter | 130.6 |  | 13.6 |  | 144.2 |
Total lease payments | 207.0 |  | 15.1 |  | 222.1 |
Future tenant improvement allowances | — |  | — |  | — |
Imputed lease interest | (100.2) |  | (12.8) |  | (113.0) |
Total lease liabilities | $106.8 |  | $2.3 |  | $109.1 |
Supplemental Disclosures Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of December 28, 2025 were as follows:
| Successor
| Operating Leases | Finance Leases
Weighted average remaining lease term (in months) (1) | 150 | 432
Weighted average discount rate (2) | 11.77 | % | 13.77 | %
(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 11 months. (2) Weighted average discount rate of finance leases without the 49-year ground lease is 5.66%. As of December 28, 2025, the Company has entered into an agreement containing operating leases for bulk gas equipment. This arrangement includes approximately $13 million of additional right of use liability obligations that have not yet commenced. The Company expects these operating leases will commence in future periods with initial lease terms of 15 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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