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Lease Obligations and Other Commitments | 3 Months Ended
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Sep. 02, 2023
Commitments and Contingencies Disclosure [Abstract] |
Lease Obligations and Other Commitments | 6. 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. 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 were as follows (in thousands):
Lease Type |  | September 2, 2023 |  |  | May 27, 2023 |
Operating lease Right of Use asset |  | $ | 2,346 |  |  | $ | 2,457 |
Operating lease liability current |  |  | 1,076 |  |  |  | 1,028 |
Operating lease liability non-current |  |  | 1,270 |  |  |  | 1,429 |
The components of lease costs were as follows (in thousands):
|  |  |  | Three Months Ended |
|  |  |  | September 2, 2023 |  |  | August 27, 2022 |
Consolidated operating lease expense |  | Operating expenses |  | $ | 454 |  |  | $ | 455 |
The approximate future minimum lease payments under operating leases at September 2, 2023 were as follows (in thousands):
Fiscal Year |  | Operating Leases |
Remaining 2024 |  | $ | 867 |
2025 |  |  | 895 |
2026 |  |  | 524 |
2027 |  |  | 134 |
2028 |  |  | 25 |
Thereafter |  |  | 13 |
Total lease payments |  |  | 2,458 |
Less imputed interest |  |  | 112 |
Net minimum lease payments |  | $ | 2,346 |
The weighted average remaining lease terms and interest rates of leases held by the Company as of September 2, 2023 were as follows:
Lease Type |  | Weighted Average Remaining Lease Term in Years |  | Weighted Average Interest Rate
Operating leases |  | 2.5 |  | 4.1%
The cash outflows of the leasing activity of the Company as lessee for the three months ending September 2, 2023 and August 27, 2022 were as follows (in thousands):
|  |  |  | Three Months Ended |
Cash Flow Source |  | Classification |  | September 2, 2023 |  |  | August 27, 2022 |
Operating cash flows from operating leases |  | Operating activities |  | $ | 111 |  |  | $ | 235 |

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