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LEASES | 12 Months Ended
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Dec. 28, 2024
LEASES |
LEASES | 9. LEASES The Company enters into leases for manufacturing facilities, warehouses, sales offices, plant equipment, vehicles, and certain other equipment with varying end dates from April 2025 to April 2033, including renewal options. The following table (in millions) represents the impact of leasing on the consolidated balance sheets:
|  | Balance Sheet Classification |  | December 28, 2024 |  |  | December 30, 2023 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets, net |  | Right of use assets |  | $ | 14.2 |  |  | $ | 17.1 |
Finance lease right of use assets, net |  | Property, plant and equipment, net |  |  | 3.8 |  |  |  | 0.9 |
Total leased assets, net |  |  |  |  | 18.0 |  |  |  | 18.0 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Current operating lease liabilities |  | Current portion of operating lease liability |  |  | 3.1 |  |  |  | 4.3 |
Current finance lease liabilities |  | Current portion of financing lease liability |  |  | 0.8 |  |  |  | 0.2 |
Noncurrent operating lease liabilities |  | Operating lease liability, less current portion |  |  | 11.1 |  |  |  | 12.8 |
Noncurrent finance lease liabilities |  | Financing lease liability, less current portion |  |  | 3.1 |  |  |  | 0.7 |
Total lease liabilities |  |  |  | $ | 18.0 |  |  | $ | 18.0 |
Cash paid included in the measurement of operating lease liabilities was $4.3 million and $4.3 million for the fiscal years ended December 28, 2024 and December 30, 2023, respectively, all of which were included within the operating cash flow section of the consolidated statements of cash flows. Lease assets obtained in exchange for new operating lease liabilities were $0.4 million and $8.5 million for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. Cash paid included in the measurement of finance lease liabilities was $0.4 million and $0.1 million for the fiscal years ended December 28, 2024 and December 30, 2023, respectively, which were included within the financing cash flow section of the consolidated statements of cash flows for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. Total operating lease expense was $4.9 million and $4.0 million for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. Total financing lease expense was $0.1 million and $0.1 million for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. The future payments (in millions) due under non-cancelable operating and finance leases as of December 28, 2024 are as follows:
|  | Operating |  |  | Finance |
2025 |  | $ | 3.1 |  |  | $ | 0.8 |
2026 |  |  | 2.6 |  |  |  | 0.8 |
2027 |  |  | 2.2 |  |  |  | 0.8 |
2028 |  |  | 2.0 |  |  |  | 0.8 |
2029 |  |  | 1.7 |  |  |  | 0.7 |
thereafter |  |  | 4.7 |  |  |  | 0.9 |
|  |  | 16.3 |  |  |  | 4.7 |
Less effects of discounting |  |  | (2.1 | ) |  |  | (0.9 | )
Lease liabilities recognized |  | $ | 14.2 |  |  | $ | 3.8 |
As of December 28, 2024, the weighted average lease term for all operating and finance leases is 6.9 and 6.2 years, respectively. The weighted average discount rate associated with operating leases was 6.3% while the weighted average discount rate associated with finance leases was 6.8%.

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- 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
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