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Lease Obligations and Other Commitments | 12 Months Ended
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May 27, 2023
Commitments and Contingencies Disclosure [Abstract] |
Lease Obligations and Other Commitments | 7. LEASE OBLIGATIONS AND OTHER COMMITMENTS The Company leases real and personal property in the normal course of business under various operating and financing leases. The Company uses operating leases for facility space and automobiles. Most of the leased facility space is for sales and general office use. Automobile leases are used throughout the Company. Financing leases were used for computer servers. Several leases include renewal clauses which vary in length and may not include specific rent renewal amounts. The Company will revise the value of the right of use assets and associated lease liabilities when the Company determines it is reasonably certain of renewal. The gross amounts of assets and liabilities related to both operating and financing leases at May 27, 2023 and May 28, 2022 were as follows (in thousands):
Lease Type |  | May 27, 2023 |  |  | May 28, 2022 |
Operating lease ROU asset |  | $ | 2,457 |  |  | $ | 3,024 |
Financing lease ROU asset |  |  | — |  |  |  | 215 |
Total Lease ROU asset |  | $ | 2,457 |  |  | $ | 3,239 |
Operating lease liability current |  | $ | 1,028 |  |  | $ | 1,109 |
Financing lease liability current |  |  | — |  |  |  | — |
Total lease liability current |  | $ | 1,028 |  |  | $ | 1,109 |
Operating lease liability non-current |  | $ | 1,429 |  |  | $ | 1,915 |
Financing lease liability non-current |  |  | — |  |  |  | — |
Total lease liability non-current |  | $ | 1,429 |  |  | $ | 1,915 |
The components of lease costs for fiscal 2023 and fiscal 2022 were as follows (in thousands):
Lease Type |  | Classification |  | Fiscal Year Ended May 27, 2023 |  |  | Fiscal Year Ended May 28, 2022 |
Consolidated operating lease expense |  | Operating expenses |  | $ | 1,721 |  |  | $ | 1,781 |
Consolidated financing lease amortization |  | Operating expenses |  |  | — |  |  |  | 92 |
Consolidated financing lease interest |  | Interest expense |  |  | — |  |  |  | 3 |
Consolidated financing lease expense |  |  |  |  | — |  |  |  | 95 |
Net lease cost |  |  |  | $ | 1,721 |  |  | $ | 1,876 |
Rent expense for fiscal 2023, fiscal 2022 and fiscal 2021 was $1.5 million, $1.6 million, and $1.7 million, respectively. Our future lease commitments for minimum rentals, including common area maintenance charges and property taxes during the next five years are as follows (in thousands):
Fiscal Year |  | Operating Leases |
2024 |  | $ | 1,147 |
2025 |  |  | 827 |
2026 |  |  | 453 |
2027 |  |  | 113 |
2028 |  |  | 23 |
Thereafter |  |  | 12 |
Total lease payments |  |  | 2,575 |
Lease inputted interest |  |  | 118 |
Net minimum lease payments |  | $ | 2,457 |
The weighted average remaining lease terms and interest rates of leases held by the Company as of May 27, 2023 were as follows:
Lease Type |  | Weighted Average Remaining Lease Term in Years |  | Weighted Average Interest Rate
Operating leases |  | 2.6 |  | 4.0%
The cash outflows of the leasing activity of the Company as lessee for fiscal 2023 and fiscal 2022 were as follows (in thousands):
|  |  |  | Fiscal Year Ended |
Cash Flow Source |  | Classification |  | May 27, 2023 |  |  | May 28, 2022 |
Operating cash flows from operating leases |  | Operating activities |  | $ | 566 |  |  | $ | 747 |
Operating cash flows from financing leases |  | Operating activities |  |  | — |  |  |  | 148 |
Finance cash flows from financing leases |  | Financing activities |  |  | — |  |  |  | 151 |

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