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Leases
3 Months Ended
Apr. 02, 2023
Leases [Abstract]  
Leases Leases
SkyWater as the Lessor
In March 2020, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer’s equipment. The contractual amount that relates to revenue from an operating lease was $21,000, and is being recognized over the estimated lease term of 4.5 years. The total amount was prepaid by the customer and recorded as deferred revenue (see Note 4 – Revenue for additional information on revenue recognition and deferred revenue of the operating lease). The carrying value of the facility space utilized by the lessee was approximately $27,000, net of accumulated depreciation of $3,230 and $2,902 as of April 2, 2023 and January 1, 2023, respectively, and is included in property and equipment on our condensed consolidated balance sheets.
In January 2023, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer's equipment. We are currently evaluating the contract and determining the amount of the contract price associated with the lease and lease term over which we will recognize lease revenues. There was no significant activity associated with the contract for the three months ended April 2, 2023.
Leases Leases
SkyWater as the Lessor
In March 2020, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer’s equipment. The contractual amount that relates to revenue from an operating lease was $21,000, and is being recognized over the estimated lease term of 4.5 years. The total amount was prepaid by the customer and recorded as deferred revenue (see Note 4 – Revenue for additional information on revenue recognition and deferred revenue of the operating lease). The carrying value of the facility space utilized by the lessee was approximately $27,000, net of accumulated depreciation of $3,230 and $2,902 as of April 2, 2023 and January 1, 2023, respectively, and is included in property and equipment on our condensed consolidated balance sheets.
In January 2023, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer's equipment. We are currently evaluating the contract and determining the amount of the contract price associated with the lease and lease term over which we will recognize lease revenues. There was no significant activity associated with the contract for the three months ended April 2, 2023.
Lesses Leases
SkyWater as the Lessor
In March 2020, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer’s equipment. The contractual amount that relates to revenue from an operating lease was $21,000, and is being recognized over the estimated lease term of 4.5 years. The total amount was prepaid by the customer and recorded as deferred revenue (see Note 4 – Revenue for additional information on revenue recognition and deferred revenue of the operating lease). The carrying value of the facility space utilized by the lessee was approximately $27,000, net of accumulated depreciation of $3,230 and $2,902 as of April 2, 2023 and January 1, 2023, respectively, and is included in property and equipment on our condensed consolidated balance sheets.
In January 2023, we executed a contract with a customer that includes an operating lease for the right to use a specified portion of our primary operating location in Bloomington, Minnesota to produce wafers using the customer's equipment. We are currently evaluating the contract and determining the amount of the contract price associated with the lease and lease term over which we will recognize lease revenues. There was no significant activity associated with the contract for the three months ended April 2, 2023.