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Joint Ventures and Variable Interest Entities (Tables)

6 Months Ended

Jun. 28, 2024

Joint Ventures and Variable Interest Entities Disclosure [Abstract]

Summary of Financial Information of Consolidated Joint Ventures

A summary of financial information of the consolidated joint ventures is as follows:

		June 28,				December 29,
		2024				2023
(In thousands)
Current assets		$	46,977			$	34,071
Non-current assets			-				8,971
Total assets			46,977				43,042
Current liabilities			55,984				59,602
Non-current liabilities			2,082				2,013
Total liabilities		$	58,066			$	61,615

		Three Months Ended								Six Months Ended
		June 28,				June 30,				June 28,				June 30,
		2024				2023				2024				2023
(In thousands)
Revenue		$	3,354			$	8,859			$	7,358			$	13,473

Summary of Financial Information of Unconsolidated Joint Ventures

A summary of financial information of the unconsolidated joint ventures, as derived from their financial statements, is as follows:

		June 28,				December 29,
		2024				2023
(In thousands)
Current assets		$	73,367			$	74,498
Non-current assets			10,398				14,333
Total assets			83,765				88,831
Current liabilities			36,351				42,817
Total liabilities		$	36,351			$	42,817

		Three Months Ended								Six Months Ended
		June 28,				June 30,				June 28,				June 30,
		2024				2023				2024				2023
(In thousands)
Revenue		$	11,169			$	13,708			$	31,625			$	42,596
Cost of revenue			17,894				(1,861	)			38,825				32,111
Gross margin			(6,725	)			15,569				(7,200	)			10,485
Net (loss) income		$	(6,725	)		$	15,569			$	(7,200	)		$	10,051

Summary of Revenue Included Related to Services Provided to Related Parties

Revenue included related to services provided to unconsolidated joint venture related parties is as follows:

		Three Months Ended								Six Months Ended
		June 28,				June 30,				June 28,				June 30,
		2024				2023				2024				2023
(In thousands)
Revenue		$	255			$	1,124			$	733			$	2,169

Summary of Condensed Consolidated Balance Sheets Related to Services Provided to Unconsolidated Joint Ventures

Amounts included in the condensed consolidated balance sheets related to services provided to unconsolidated joint ventures as of June 28, 2024 and December 29, 2023 are as follows:

		June 28,				December 29,
		2024				2023
(In thousands)
Accounts receivable, net		$	1,876			$	2,092

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- Definition

Joint ventures and variable interest entities disclosure.

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 04
-Paragraph a
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

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Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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