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Joint Ventures and Variable Interest Entities | 12 Months Ended
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Jan. 03, 2025
Joint Ventures and Variable Interest Entities Disclosure [Abstract] |
Joint Ventures and Variable Interest Entities | Note 4. Joint Ventures and Variable Interest Entities A summary of financial information of the consolidated joint ventures is as follows:
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Current assets |  | $ | 11,063 |  |  | $ | 34,071 |
Non-current assets |  |  | - |  |  |  | 8,971 |
Total assets |  |  | 11,063 |  |  |  | 43,042 |
Current liabilities |  |  | 63,512 |  |  |  | 59,602 |
Non-current liabilities |  |  | 2,433 |  |  |  | 2,013 |
Total liabilities |  | $ | 65,945 |  |  | $ | 61,615 |
|  | Fiscal Year Ended |
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Revenue |  | $ | 49,454 |  |  | $ | 23,599 |
The assets of the Company’s consolidated joint ventures are restricted for use only by the particular joint venture and are not available for the general operations of the Company. A summary of financial information of the unconsolidated joint ventures, as derived from their financial statements, is as follows:
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Current assets |  | $ | 60,738 |  |  | $ | 74,498 |
Non-current assets |  |  | 9,573 |  |  |  | 14,333 |
Total assets |  |  | 70,311 |  |  |  | 88,831 |
Current liabilities |  |  | 28,351 |  |  |  | 42,817 |
Total liabilities |  | $ | 28,351 |  |  | $ | 42,817 |
|  | Fiscal Year Ended |
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Revenue |  | $ | 58,249 |  |  | $ | 80,727 |
Cost of revenue |  |  | 77,003 |  |  |  | 64,793 |
Gross margin |  |  | (18,754 | ) |  |  | 15,934 |
Other expense |  |  | 2,500 |  |  |  | - |
Net (loss) income |  | $ | (21,254 | ) |  | $ | 15,934 |
Contractually required support provided to the Company’s joint ventures is discussed in Note 12 - Commitments and Contingencies. Related Party Transactions We often provide construction management and other subcontractor services to the Company’s joint ventures and revenue includes amounts related to these services which is eliminated to the extent of our ownership. Revenue included related to services provided to unconsolidated joint venture related parties is as follows:
|  | Fiscal Year Ended |
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Revenue |  | $ | 2,625 |  |  | $ | 3,415 |
Amounts included in the consolidated balance sheets related to services provided to unconsolidated joint ventures for the years ended January 3, 2025 and December 29, 2023 are as follows:
|  | January 3, |  |  | December 29, |
|  | 2025 |  |  | 2023 |
(In thousands) |  |  |  |  |  |
Accounts receivable, net |  | $ | 2,098 |  |  | $ | 2,092 |

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