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Leases (Tables)

9 Months Ended

Sep. 28, 2024

Leases [Abstract]

Schedule of Components of Lease and Supplemental Cash Flow Information

Lease costs for operating and finance leases were as follows:

												Three Months Ended
(in thousands)						Statement of Operations Location						September 28, 2024						September 30, 2023
Operating lease cost:
Lease cost						Cost of goods sold						$	424					$	399
Lease cost						Research and development expenses						2,383						2,507
Lease cost						Selling, general and administrative expenses						612						820
Variable lease cost(1)						Cost of goods sold						65						54
Variable lease cost(1)						Research and development expenses						—						21
Variable lease cost(1)						Selling, general and administrative expenses						1,099						632
Operating lease cost												$	4,583					$	4,433
Short-term lease cost:
Short-term lease cost						Cost of goods sold						$	23					$	21
Short-term lease cost						Research and development expenses						26						37
Short-term lease cost						Selling, general and administrative expenses						144						51
Short-term lease cost												$	193					$	109
Finance lease cost:
Amortization of right-of use assets						Cost of goods sold						$	267					$	49
Amortization of right-of use assets						Research and development expenses						4						4
Interest on lease liabilities						Interest expense						45						5
Variable lease cost(1)						Cost of goods sold						3						3
Finance lease cost												$	319					$	61
Total lease cost												$	5,095					$	4,603

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

												Nine Months Ended
(in thousands)						Statement of Operations Location						September 28, 2024						September 30, 2023
Operating lease cost:
Lease cost						Cost of goods sold						$	1,246					$	1,210
Lease cost						Research and development expenses						7,151						6,979
Lease cost						Selling, general and administrative expenses						1,890						1,937
Variable lease cost(1)						Cost of goods sold						181						177
Variable lease cost(1)						Research and development expenses						6						104
Variable lease cost(1)						Selling, general and administrative expenses						3,059						1,800
Operating lease cost												$	13,533					$	12,207
Short-term lease cost:
Short-term lease cost						Cost of goods sold						$	67					$	63
Short-term lease cost						Research and development expenses						80						121
Short-term lease cost						Selling, general and administrative expenses						252						148
Short-term lease cost												$	399					$	332
Finance lease cost:
Amortization of right-of use assets						Cost of goods sold						$	733					$	154
Amortization of right-of use assets						Research and development expenses						11						11
Interest on lease liabilities						Interest expense						122						16
Variable lease cost(1)						Cost of goods sold						9						8
Variable lease cost(1)						Research and development expenses						1						—
Finance lease cost												$	876					$	189
Total lease cost												$	14,808					$	12,728

____________

(1) Variable lease cost primarily consists of common area maintenance, such as cleaning and repairs.

Weighted average remaining lease terms and weighted average discount rates were:

						September 28, 2024
						Operating Leases						Finance Leases
Weighted average remaining lease term (years)						13.4						4.2
Weighted average discount rate						6.9		%				4.2		%

Schedule of Assets and Liabilities Related to Operating and Finance Leases

Supplemental balance sheet information as of September 28, 2024 and December 31, 2023 related to leases are:

(in thousands)						Balance Sheet Location						September 28, 2024						December 31, 2023
Assets
Operating leases						Operating lease right-of-use assets						$	126,092					$	130,460
Finance leases, net						Property, plant and equipment, net						4,343						461
Total lease assets												$	130,435					$	130,921
Liabilities
Current:
Operating lease liabilities						Current portion of operating lease liabilities						$	4,103					3,677
Finance lease liabilities						Accrued expenses and other current liabilities						1,140						196
Long-term:
Operating lease liabilities						Operating lease liabilities, net of current portion						74,506						75,648
Finance lease liabilities						Finance lease obligations and other long-term liabilities						3,273						274
Total lease liabilities												$	83,022					$	79,795

Schedule of Future Maturities of Operating Lease Liabilities

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 28, 2024:

						September 28, 2024
(in thousands)						Operating Leases						Finance Leases
Remainder of 2024						$	2,210					$	397
2025						8,653						1,201
2026						8,507						1,096
2027						8,330						1,064
2028						8,381						1,024
Thereafter						89,018						9
Total undiscounted future minimum lease payments						125,099						4,791
Less imputed interest						(46,490)						(378)
Total discounted future minimum lease payments						$	78,609					$	4,413

Schedule of Future Maturities of Finance Lease Liabilities

The following is a schedule by year of the maturities of lease liabilities with original terms in excess of one year, as of September 28, 2024:

						September 28, 2024
(in thousands)						Operating Leases						Finance Leases
Remainder of 2024						$	2,210					$	397
2025						8,653						1,201
2026						8,507						1,096
2027						8,330						1,064
2028						8,381						1,024
Thereafter						89,018						9
Total undiscounted future minimum lease payments						125,099						4,791
Less imputed interest						(46,490)						(378)
Total discounted future minimum lease payments						$	78,609					$	4,413

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow information:

			Three Months Ended												Nine Months Ended
(in thousands)			September 28, 2024						September 30, 2023						September 28, 2024						September 30, 2023
Cash paid for amounts included in the measurement of operating lease liabilities			$	2,160					$	1,763					$	6,491					$	5,207
Operating lease right-of-use assets obtained in exchange for lease liabilities			366						—						$	1,755					$	36,400

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Schedule of Assets and Liabilities Related to Operating and Finance Leases [Table Text Block]

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of supplemental cash flow information for the periods presented.

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