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Lease Obligations and Other Commitments | 6 Months Ended
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Nov. 27, 2021
Commitments And Contingencies Disclosure [Abstract] |
Lease Obligations and Other Commitments | 4. LEASE OBLIGATIONS AND OTHER COMMITMENTS The Company leases real and personal property in the normal course of business under various operating leases and financing leases. The Company has two types of operating leases: leases for facility space and leases for automobiles. Most of the leased facility space is for sales and general office use. Automobile leases are used throughout the Company. The financing lease is for our computer servers. The gross amounts of assets and liabilities related to both operating and financing leases were as follows (in thousands):
Lease Type |  | November 27, 2021 |  |  | May 29, 2021 |
Operating lease ROU asset |  | $ | 3,579 |  |  | $ | 2,262 |
Financing lease ROU asset |  |  | 262 |  |  |  | 308 |
Total lease ROU asset |  | $ | 3,841 |  |  | $ | 2,570 |
Operating lease liability current |  | $ | 1,192 |  |  | $ | 918 |
Financing lease liability current |  |  | 60 |  |  |  | 148 |
Total lease liability current |  | $ | 1,252 |  |  | $ | 1,066 |
Operating lease liability non-current |  | $ | 2,388 |  |  | $ | 1,358 |
Total lease liability non-current |  | $ | 2,388 |  |  | $ | 1,358 |
The components of lease costs were as follows (in thousands):
|  |  |  | Three Months Ended |
|  |  |  | November 27, 2021 |  |  | November 28, 2020 |
Consolidated operating lease expense |  | Operating expenses |  | $ | 446 |  |  | $ | 502 |
Consolidated financing lease amortization |  | Operating expenses |  |  | 23 |  |  |  | 23 |
Consolidated financing lease interest |  | Interest expense |  |  | 1 |  |  |  | 3 |
Consolidated financing lease expense |  |  |  |  | 24 |  |  |  | 26 |
Net lease cost |  |  |  | $ | 470 |  |  | $ | 528 |
|  |  |  | Six Months Ended |
|  |  |  | November 27, 2021 |  |  | November 28, 2020 |
Consolidated operating lease expense |  | Operating expenses |  | $ | 901 |  |  | $ | 990 |
Consolidated financing lease amortization |  | Operating expenses |  |  | 46 |  |  |  | 46 |
Consolidated financing lease interest |  | Interest expense |  |  | 3 |  |  |  | 7 |
Consolidated financing lease expense |  |  |  |  | 49 |  |  |  | 53 |
Net lease cost |  |  |  | $ | 950 |  |  | $ | 1,043 |
The approximate future minimum lease payments under operating and financing leases at November 27, 2021 were as follows (in thousands):
Fiscal Year |  | Operating Leases |  |  | Financing Leases |  |  | Total |
Remaining 2022 |  | $ | 692 |  |  | $ | 60 |  |  | $ | 752 |
2023 |  |  | 1,221 |  |  |  | — |  |  |  | 1,221 |
2024 |  |  | 837 |  |  |  | — |  |  |  | 837 |
2025 |  |  | 583 |  |  |  | — |  |  |  | 583 |
2026 |  |  | 401 |  |  |  | — |  |  |  | 401 |
Thereafter |  |  | 94 |  |  |  | — |  |  |  | 94 |
Total lease payments |  |  | 3,828 |  |  |  | 60 |  |  |  | 3,888 |
Less imputed interest |  |  | 248 |  |  |  | 1 |  |  |  | 249 |
Net minimum lease payments |  | $ | 3,580 |  |  | $ | 59 |  |  | $ | 3,639 |
The weighted average remaining lease terms and interest rates of leases held by the Company as of November 27, 2021 were as follows:
Lease Type |  | Weighted Average Remaining Lease Term in Years |  | Weighted Average Interest Rate |
Operating leases |  | 3.6 |  | 4.5% |
Financing leases |  | 0.4 |  | 4.6% |
The cash outflows of the leasing activity of the Company as lessee for the six months ending November 27, 2021 and November 28, 2020 were as follows (in thousands):
|  |  |  | Six Months Ended |
Cash Flow Source |  | Classification |  | November 27, 2021 |  |  | November 28, 2020 |
Operating cash flows from operating leases |  | Operating activities |  | $ | 1,303 |  |  | $ | 549 |
Operating cash flows from financing leases |  | Operating activities |  |  | 88 |  |  |  | 84 |
Finance cash flows from financing leases |  | Financing activities |  |  | 91 |  |  |  | 91 |

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