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Leases (Notes)
 6 Months Ended
Jun. 29, 2024
Leases [Abstract]  
Leases Leases
We lease certain office and parking facilities, warehouse space, equipment, vehicles and information technology equipment under operating and finance leases. Lease expense for these leases is recognized within the Condensed Consolidated Statements of Operations on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. The following table summarizes the amounts recognized in our Condensed Consolidated Balance Sheet related to leases:
Condensed Consolidated Balance Sheet
Classification		June 29,
2024		December 31,
2023
Assets 
Operating lease assetsRight-of-use assets - operating leases $106,024 $110,248 
Finance lease assetsProperty and equipment, net20,188 18,613 
Total lease assets $126,212 $128,861 
Liabilities 
Current operating lease liabilitiesOther current liabilities$39,282 $39,043 
Non-current operating lease liabilitiesLease liabilities - operating leases67,193 71,134 
Total operating lease liabilities 106,475 110,177 
Current portion of finance lease liabilitiesCurrent portion of long-term debt and finance lease liabilities5,641 4,794 
Non-current finance lease liabilitiesLease liabilities - finance leases15,024 13,544 
Total finance lease liabilities 20,665 18,338 
Total lease liabilities $127,140 $128,515 
The components of lease cost recognized within our Condensed Consolidated Statements of Operations were as follows:
Three Months EndedSix Months Ended
Condensed Consolidated Statements
of Operations Classification		June 29,
2024		July 1,
2023		June 29,
2024		July 1,
2023
Operating lease costOperating expense$11,057 $7,868 $16,991 $15,614 
Operating lease costSelling expense2,627 3,294 5,275 6,407 
Operating lease costGeneral and administrative expense277 375 538 665 
Finance lease cost:
Amortization of right-of-use assetsDepreciation and amortization1,517 987 2,936 1,842 
Interest expense on lease liabilitiesInterest expense212 111 412 201 
Other lease cost (1)
Operating expense2,028 1,376 3,971 2,824 
Other lease cost (1)
Selling expense400 495 775 982 
Other lease cost (1)
General and administrative expense72 48 30 74 
Total lease cost$18,190 $14,554 $30,928 $28,609 
(1) Other lease cost includes short-term lease costs and variable lease costs.
We often have options to renew lease terms for buildings and other assets. The exercise of lease renewal options is generally at our sole discretion. In addition, certain lease agreements may be terminated prior to their original expiration date at our discretion. We evaluate each renewal and termination option at the lease commencement date to determine if we are reasonably certain to exercise the option on
the basis of economic factors. The weighted average remaining lease terms as of June 29, 2024 was 3.5 years for operating leases and 4.2 years for finance leases.
The discount rate implicit within our leases is generally not determinable, and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for each lease is determined based on its term and the currency in which lease payments are made, adjusted for the impacts of collateral. The weighted average discount rates used to measure our lease liabilities as of June 29, 2024 were 4.24% for operating leases and 4.57% for finance leases.
Supplemental Cash Flow Information Related to LeasesSix Months Ended
June 29,
2024		July 1,
2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(23,713)$(22,147)
Operating cash flows from finance leases(413)(201)
Financing cash flows from finance leases(2,924)(2,049)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases18,407 27,462 
Finance leases5,251 3,725 
Maturity Analysis of Lease LiabilitiesAs of June 29, 2024
Operating
Leases		Finance
Leases
Remaining six months of 2024
$22,585 $3,241 
202538,245 6,292 
202625,680 5,428 
202714,582 3,357 
20287,024 2,252 
20292,745 1,264 
Thereafter4,188 886 
Total lease payments115,049 22,720 
Less interest8,574 2,055 
Total$106,475 $20,665 
Leases Leases
We lease certain office and parking facilities, warehouse space, equipment, vehicles and information technology equipment under operating and finance leases. Lease expense for these leases is recognized within the Condensed Consolidated Statements of Operations on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. The following table summarizes the amounts recognized in our Condensed Consolidated Balance Sheet related to leases:
Condensed Consolidated Balance Sheet
Classification		June 29,
2024		December 31,
2023
Assets 
Operating lease assetsRight-of-use assets - operating leases $106,024 $110,248 
Finance lease assetsProperty and equipment, net20,188 18,613 
Total lease assets $126,212 $128,861 
Liabilities 
Current operating lease liabilitiesOther current liabilities$39,282 $39,043 
Non-current operating lease liabilitiesLease liabilities - operating leases67,193 71,134 
Total operating lease liabilities 106,475 110,177 
Current portion of finance lease liabilitiesCurrent portion of long-term debt and finance lease liabilities5,641 4,794 
Non-current finance lease liabilitiesLease liabilities - finance leases15,024 13,544 
Total finance lease liabilities 20,665 18,338 
Total lease liabilities $127,140 $128,515 
The components of lease cost recognized within our Condensed Consolidated Statements of Operations were as follows:
Three Months EndedSix Months Ended
Condensed Consolidated Statements
of Operations Classification		June 29,
2024		July 1,
2023		June 29,
2024		July 1,
2023
Operating lease costOperating expense$11,057 $7,868 $16,991 $15,614 
Operating lease costSelling expense2,627 3,294 5,275 6,407 
Operating lease costGeneral and administrative expense277 375 538 665 
Finance lease cost:
Amortization of right-of-use assetsDepreciation and amortization1,517 987 2,936 1,842 
Interest expense on lease liabilitiesInterest expense212 111 412 201 
Other lease cost (1)
Operating expense2,028 1,376 3,971 2,824 
Other lease cost (1)
Selling expense400 495 775 982 
Other lease cost (1)
General and administrative expense72 48 30 74 
Total lease cost$18,190 $14,554 $30,928 $28,609 
(1) Other lease cost includes short-term lease costs and variable lease costs.
We often have options to renew lease terms for buildings and other assets. The exercise of lease renewal options is generally at our sole discretion. In addition, certain lease agreements may be terminated prior to their original expiration date at our discretion. We evaluate each renewal and termination option at the lease commencement date to determine if we are reasonably certain to exercise the option on
the basis of economic factors. The weighted average remaining lease terms as of June 29, 2024 was 3.5 years for operating leases and 4.2 years for finance leases.
The discount rate implicit within our leases is generally not determinable, and therefore the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for each lease is determined based on its term and the currency in which lease payments are made, adjusted for the impacts of collateral. The weighted average discount rates used to measure our lease liabilities as of June 29, 2024 were 4.24% for operating leases and 4.57% for finance leases.
Supplemental Cash Flow Information Related to LeasesSix Months Ended
June 29,
2024		July 1,
2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(23,713)$(22,147)
Operating cash flows from finance leases(413)(201)
Financing cash flows from finance leases(2,924)(2,049)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases18,407 27,462 
Finance leases5,251 3,725 
Maturity Analysis of Lease LiabilitiesAs of June 29, 2024
Operating
Leases		Finance
Leases
Remaining six months of 2024
$22,585 $3,241 
202538,245 6,292 
202625,680 5,428 
202714,582 3,357 
20287,024 2,252 
20292,745 1,264 
Thereafter4,188 886 
Total lease payments115,049 22,720 
Less interest8,574 2,055 
Total$106,475 $20,665