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Leases (Tables)

3 Months Ended

Sep. 28, 2024

Leases [Abstract]

Schedule of Lease Cost

The components of lease cost for the three months ended September 28, 2024 and September 30, 2023 were (in thousands): 

						Three Months Ended
						September 28, 2024						September 30, 2023
Lease cost			Classification
Operating lease cost			Cost of sales			$	1,339					$	1,126
Operating lease cost			Selling, general and administrative expenses			$	184					$	184
Financing lease cost			Cost of sales			$	1,306					$	1,279
Financing lease cost			Selling, general and administrative expenses			$	54					$	55
Total lease cost						$	2,883					$	2,644
Fixed lease cost						$	2,574					$	1,547
Short-term lease cost						309						1,097
Total lease cost						$	2,883					$	2,644

Schedule of Lease Assets and Liabilities

Amounts reported in the Consolidated Balance Sheet as of September 28, 2024 and June 29, 2024 were (in thousands, except weighted average lease term and discount rate):

						September 28, 2024						June 29, 2024
Operating Leases:
Operating lease right of use assets						$	14,612					$	15,416
Operating lease liabilities (1)						$	14,612					$	15,416
Weighted-average remaining lease term (in years)
Operating leases						3.80						3.97
Weighted-average discount rate
Operating leases						4.00%						4.00%
Financing Leases (2):
Financing lease right of use assets						$	2,831					$	3,569
Financing lease liabilities						$	1,883					$	2,128
Weighted-average remaining lease term (in years)
Financing leases						1.10						1.06
Weighted-average discount rate
Financing leases						11.53%						11.18%

(1) The current portion of the total operating lease liabilities of $5.0 million is classified under Other Current Liabilities resulting in $9.6 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet.

(2) The total finance lease right of use assets of $2.8 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $1.8 million is classified under Current portion of debt, net, resulting in $0.1 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet.

Schedule of Maturities of Operating Leases Liability

Future lease payments under non-cancellable leases as of September 28, 2024 are as follows (in thousands):

Fiscal Years Ending						Operating Leases						Finance Leases
2025 (1)						$	3,832					$	1,572
2026						4,288						563
2027						3,404						—
2028						2,324						—
2029						1,051						—
Thereafter						822						—
Total undiscounted lease payments						$	15,721					$	2,135
Less: present value discount						(1,109)						(252)
Total lease liabilities						$	14,612					$	1,883

(1) Represents estimated lease payments for the remaining nine-month period ending June 28, 2025.

Schedule of Maturities of Finance Leases Liability

Future lease payments under non-cancellable leases as of September 28, 2024 are as follows (in thousands):

Fiscal Years Ending						Operating Leases						Finance Leases
2025 (1)						$	3,832					$	1,572
2026						4,288						563
2027						3,404						—
2028						2,324						—
2029						1,051						—
Thereafter						822						—
Total undiscounted lease payments						$	15,721					$	2,135
Less: present value discount						(1,109)						(252)
Total lease liabilities						$	14,612					$	1,883

(1) Represents estimated lease payments for the remaining nine-month period ending June 28, 2025.

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Assets And Liabilities, Lessee [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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- 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
-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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