LEASES (Tables)
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9 Months Ended |
Jun. 28, 2024 |
Leases [Abstract] |
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Schedule of Location of Lease Related Costs |
The following table summarizes operating lease costs, consisting of fixed lease costs, variable lease costs and short-term lease costs. Additionally, the table summarizes finance lease costs, consisting of amortization of right-of-use asset and interest on lease liabilities (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | June 28, 2024 | | June 30, 2023 | | June 28, 2024 | | June 30, 2023 | Lease costs: | | | | | | | | Operating lease costs | $ | 11,019 | | | $ | 10,150 | | | $ | 31,748 | | | $ | 31,034 | | Finance lease costs | $ | 9,522 | | | $ | 8,488 | | | $ | 27,635 | | | $ | 25,508 | |
Supplemental cash flow information related to leases for the period reported is as follows (in thousands): | | | | | | | | | | | | | Nine months ended | | June 28, 2024 | | June 30, 2023 | Cash paid for amounts included in the measurement of lease liabilities: | | | | Operating cash flows from operating leases | $ | 18,169 | | | $ | 18,209 | | Operating cash flows from finance leases | 4,241 | | | 3,072 | | Financing cash flows from finance leases | 22,572 | | | 20,803 | | Lease assets obtained in exchange for lease obligations: | | | | Operating leases | $ | 27,004 | | | $ | 10,440 | | Finance leases | 31,906 | | | 25,704 | |
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Schedule of Other Information Related to the Operating Leases |
Other information related to the operating lease right-of-use assets, net and operating lease liabilities was as follows (in thousands):
| | | | | | | | | | | | | | | | | June 28, 2024 | | September 29, 2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted average remaining lease term (in years) | | | | | | Operating leases | | | 5.8 | | 4.7 | Finance leases | | | 5.7 | | 5.7 | Weighted average discount rate | | | | | | Operating leases | | | 5.7 | % | | 4.4 | % | Finance leases | | | 4.5 | % | | 4.3 | % |
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Schedule of Minimum Operating Lease Payments |
Future minimum lease payments under non-cancelable leases as of June 28, 2024 are as follows (in thousands): | | | | | | | | | | | | | | | | | | | Operating leases | | Finance leases | | Total | 2024 (remaining three months) | $ | 3,412 | | | $ | 9,396 | | | $ | 12,808 | | 2025 | 20,052 | | | 34,830 | | | 54,882 | | 2026 | 17,158 | | | 30,574 | | | 47,732 | | 2027 | 13,667 | | | 26,104 | | | 39,771 | | 2028 | 10,162 | | | 21,797 | | | 31,959 | | Thereafter | 32,558 | | | 39,020 | | | 71,578 | | Total future minimum lease payments | $ | 97,009 | | | $ | 161,721 | | | $ | 258,730 | | Less: Interest | (19,445) | | | (20,090) | | | (39,535) | | Present value of lease liabilities | $ | 77,564 | | | $ | 141,631 | | | $ | 219,195 | |
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Schedule of Minimum Finance Lease Payments |
Future minimum lease payments under non-cancelable leases as of June 28, 2024 are as follows (in thousands): | | | | | | | | | | | | | | | | | | | Operating leases | | Finance leases | | Total | 2024 (remaining three months) | $ | 3,412 | | | $ | 9,396 | | | $ | 12,808 | | 2025 | 20,052 | | | 34,830 | | | 54,882 | | 2026 | 17,158 | | | 30,574 | | | 47,732 | | 2027 | 13,667 | | | 26,104 | | | 39,771 | | 2028 | 10,162 | | | 21,797 | | | 31,959 | | Thereafter | 32,558 | | | 39,020 | | | 71,578 | | Total future minimum lease payments | $ | 97,009 | | | $ | 161,721 | | | $ | 258,730 | | Less: Interest | (19,445) | | | (20,090) | | | (39,535) | | Present value of lease liabilities | $ | 77,564 | | | $ | 141,631 | | | $ | 219,195 | |
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