Leases

9 Months Ended

Apr. 02, 2021

Leases [Abstract]

Leases

Leases

The Company has facilities under non-cancelable operating lease agreements. These leases have varying terms that range from one to 20 years and contain leasehold improvement incentives, rent holidays and escalation clauses.

We determine if an arrangement contains a lease at inception. These operating leases are included in "Right of use assets" on our unaudited condensed consolidated balance sheets and represent our right to use the underlying asset for the lease term. Our obligations to make lease payments are included in "Short-term lease liabilities" and "Long-term lease liabilities" on our unaudited condensed consolidated balance sheets. We did not enter into any finance leases during the nine months ended April 2, 2021.

The following summarizes our lease costs (in thousands):

	Three Months Ended				Nine Months Ended
	April 2, 2021		April 3, 2020		April 2, 2021		April 3, 2020
	(In thousands)				(In thousands)
Operating lease costs	$	295	$	444	$	909	$	1,290
Short-term lease costs	506		393		1,323		1,164
Variable lease costs	93		95		255		251
Total lease costs	$	894	$	932	$	2,487	$	2,705

The following summarizes our lease term and discount rate for the nine months ended April 2, 2021:

Weighted average remaining lease term	8.4 years
Weighted average discount rate	6.5	%

As of April 2, 2021, our future minimum lease payments under all non-cancelable operating leases with an initial term in excess of one year were as follows (in thousands):

	Amount
	(In thousands)
Remainder of 2021	$	315
2022	728
2023	464
2024	338
2025	349
Thereafter	1,990
Total lease payments	4,184
Less: interest	(1,086)
Present value of lease liabilities	$	3,098