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v3.22.2.2

LEASES (Tables) | 12 Months Ended
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Jul. 02, 2022
Leases [Abstract] |
Lease, Cost | The components of lease cost were as follows as of July 2, 2022, July 3, 2021 and June 27, 2020 (in thousands):
|  | Year Ended |  | Year Ended |  | Year Ended
Lease cost | Classification | July 2, 2022 |  | July 3, 2021 |  | June 27, 2020
Operating lease cost | Cost of sales | $ | 6,442 |  |  | $ | 4,818 |  |  | $ | 4,511 |
Operating lease cost | Selling, general and administrative expenses | 929 |  |  | 1,270 |  |  | 1,266 |
Financing lease cost | Cost of sales | $ | 2,054 |  |  | $ | — |  |  | $ | — |
Financing lease cost | Selling, general and administrative expenses | $ | 64 |  |  | $ | — |  |  | $ | — |
Total lease cost |  | $ | 9,489 |  |  | $ | 6,088 |  |  | $ | 5,777 |
Fixed lease cost |  | $ | 7,941 |  |  | $ | 4,943 |  |  | $ | 5,335 |
Short-term lease cost |  | $ | 1,548 |  |  | $ | 1,145 |  |  | $ | 442 |
Total lease cost |  | $ | 9,489 |  |  | $ | 6,088 |  |  | $ | 5,777 |
Lessee, Operating Lease, Disclosure | Amounts reported in the Consolidated Balance Sheet as of July 2, 2022 and July 3, 2021 were (in thousands, except weighted average lease term and discount rate):
| July 2, 2022 |  | July 3, 2021
Operating Leases: |  |  |
Operating lease right of use assets | $ | 16,731 |  |  | $ | 15,745 |
Operating lease liabilities (1) | 16,731 |  |  | 15,653 |
Weighted-average remaining lease term (in years) |  |  |
Operating leases | 5.28 |  | 5.95
Weighted-average discount rate |  |  |
Operating leases | 4.00 | % |  | 4.05 | %
Financing Leases (2): |  |  |
Financing lease right of use assets | $ | 12,464 |  |  | $ | — |
Financing lease liabilities | 11,211 |  |  | — |
Weighted-average remaining lease term (in years) |  |  |
Financing leases | 2.56 |  | 0.00
Weighted-average discount rate |  |  |
Financing leases | 8.82 | % |  | — | %
(1) For fiscal year 2022 and 2021, the current portion of the total operating lease liabilities is classified under Other Current Liabilities. (2) The total finance lease right of use assets of $12.5 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $5.2 million is classified under Current portion of debt, net, resulting in $6.0 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet. Other information related to leases was as follows (in thousands):
| July 2, 2022 |  | July 3, 2021 |  | June 27, 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | 4,261 |  |  | 4,976 |  |  | 4,237 |
Financing cash flows used in financing leases | 2,331 |  |  | — |  |  | — |
Lessee, Operating Lease, Liability, Maturity | Future lease payments under non-cancellable leases as of July 2, 2022 are as follows (in thousands):
Fiscal Years Ending |  | Operating Leases |  | Finance Leases
2023 |  | $ | 4,709 |  |  | $ | 5,213 |
2024 |  | 3,811 |  |  | 3,960 |
2025 |  | 2,972 |  |  | 2,539 |
2026 |  | 2,351 |  |  | 107 |
2027 |  | 1,450 |  |  | 71 |
Thereafter |  | 3,071 |  |  | — |
Total undiscounted lease payments |  | 18,364 |  |  | 11,890 |
Less: present value discount |  | 1,633 |  |  | 679 |
Total lease liabilities |  | $ | 16,731 |  |  | $ | 11,211 |

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- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123406913&loc=d3e41499-112717 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124440162&loc=d3e12069-110248 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123406913&loc=d3e41502-112717 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123389372&loc=d3e36991-112694 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 3) -URI https://asc.fasb.org/extlink&oid=123403562&loc=d3e38371-112697 + Details
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