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Leases
 6 Months Ended
Nov. 23, 2024
Lessee Disclosure [Abstract]  
Leases Leases
The Company currently leases office space, vehicles and certain equipment under operating leases through fiscal 2035. Lease cost components included within selling, general and administrative expenses in the Consolidated Statements of Operations were as follows (in thousands):
 Three Months EndedSix Months Ended
November 23, 2024November 25, 2023November 23,
2024		November 25,
2023
Operating lease cost
$1,725 $1,852 $3,452 $3,716 
Short-term lease cost121 45 200 102 
Variable lease cost365 435 746 808 
Sublease income (1)
(179)(202)(358)(331)
Total lease cost$2,032 $2,130 $4,040 $4,295 
(1)Sublease income does not include rental income received from owned property, which is not material.

Concurrent with the sale of the building in Irvine, California, on August 1, 2024, the Company entered into a lease agreement for an office space in Irvine. The lease commenced on November 1, 2024 and has an expiration date of July 31, 2032. See Note 5 – Assets held for sale for further discussion. The average annual rent for the lease term will be $0.7
million. On December 20, 2023, the Company entered into a lease agreement for an office space in New York that commenced on July 1, 2024 with an expiration date of July 31, 2034. The annual fixed rent for the first five years and the last five years are $1.2 million and $1.3 million, respectively.
The weighted-average lease term and weighted-average discount rate for operating leases as of November 23, 2024 and May 25, 2024 are presented in the following table:
As of
November 23, 2024		As of
May 25, 2024
Weighted-average remaining lease term6.4 years3.5 years
Weighted-average discount rate5.07%4.37%
Cash flow and other noncash information related to operating leases is included in the following table (in thousands):
 Three Months EndedSix Months Ended
 November 23, 2024November 25, 2023November 23,
2024		November 25,
2023
Cash paid for amounts included in the measurement of operating lease liabilities$1,754 $2,120 $3,446 $4,329 
Right-of-use assets obtained in exchange for new operating lease obligations$2,789 $1,937 $15,874 $2,920 
Future maturities of operating lease liabilities as of November 23, 2024 are presented in the following table (in thousands):
Fiscal Years:Operating Lease Maturity
2025 (remaining six months)$3,392 
20265,976 
20274,872 
20284,484 
20293,638 
Thereafter10,624 
Total future lease payments32,986 
Less: interest(5,230)
Present value of operating lease liabilities$27,756