XML 51 R39.htm IDEA: XBRL DOCUMENT

Leases (Tables)

12 Months Ended

Jul. 02, 2023

Leases [Abstract]

Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities

The following table sets forth the balance sheet location and values of the Company’s lease assets and lease liabilities:


Classification		Balance Sheet Location		July 2, 2023				July 3, 2022
Lease Assets
Operating lease assets		Operating lease assets		$	7,791			$	8,829
Finance lease assets		Property, plant & equipment, net			10,947				7,017
Total lease assets				$	18,738			$	15,846

Lease Liabilities
Current operating lease liabilities		Current operating lease liabilities		$	1,813			$	2,190
Current finance lease liabilities		Current portion of long-term debt			2,806				1,726
Total current lease liabilities				$	4,619			$	3,916

Non-current operating lease liabilities		Non-current operating lease liabilities		$	6,146			$	6,736
Non-current finance lease liabilities		Long-term debt			7,961				5,535
Total non-current lease liabilities				$	14,107			$	12,271

Total lease liabilities				$	18,726			$	16,187

Schedule of Components of Lease Cost

The following table sets forth the components of UNIFI’s total lease cost for fiscal 2023 and 2022:


Lease Cost		Fiscal 2023				Fiscal 2022
Operating lease cost		$	2,686			$	2,766
Variable lease cost			545				502
Finance lease cost:
Amortization of lease assets			1,546				1,981
Interest on lease liabilities			344				258
Short-term lease cost			1,013				967
Total lease cost		$	6,134			$	6,474

Schedule of Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases

The following table presents supplemental information related to leases:


Other Information		Fiscal 2023				Fiscal 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases		$	2,686			$	2,766
Financing cash flows used by finance leases		$	2,123			$	3,707
Non-cash activities:
Leased assets obtained in exchange for new operating lease liabilities		$	2,733			$	1,662
Leased assets obtained in exchange for new finance lease liabilities		$	5,629			$	2,493

Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating Leases and Finance Leases

The following table sets forth UNIFI's weighted average remaining lease term in years and discount rate percentage used in the calculation of its outstanding lease liabilities:


Weighted Average Remaining Lease Term and Discount Rate		July 2, 2023				July 3, 2022
Weighted average remaining lease term (years):
Operating leases			6.0				4.1
Finance leases			3.9				4.2
Weighted average discount rate (percentage):
Operating leases			3.0	%			5.0	%
Finance leases			4.8	%			3.6	%

Schedule of Future Minimum Lease Payments for Finance Leases and Operating Leases

Future minimum finance lease payments and future minimum payments under non-cancelable operating leases with initial lease terms in excess of one year as of July 2, 2023 by fiscal year were:


Maturity of Lease Liabilities		Finance Leases				Operating Leases
Fiscal 2024		$	3,339			$	2,181
Fiscal 2025			3,183				1,677
Fiscal 2026			2,688				1,384
Fiscal 2027			2,082				1,155
Fiscal 2028			949				1,040
Fiscal years thereafter			—				2,241
Total minimum lease payments		$	12,241			$	9,678
Less estimated executory costs			(338	)			—
Less imputed interest			(1,136	)			(1,719	)
Present value of net minimum lease payments			10,767				7,959
Less current portion of lease obligations			(2,806	)			(1,813	)
Long-term portion of lease obligations		$	7,961			$	6,146