XML 25 R13.htm IDEA: XBRL DOCUMENT v3.21.2
Leases
6 Months Ended
Oct. 02, 2021
Leases [Abstract]  
Finance Leases Leases
We lease certain production and retail locations, office space and equipment. During the period ended October 2, 2021, we executed various lease renewals and acquired certain assets under finance leases.
The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of October 2, 2021 and April 3, 2021 (in thousands):
ClassificationOctober 2,
2021
April 3,
2021
ROU assets
Operating lease assets
Operating lease right-of-use assets
$16,706 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
8,352 986 
Total lease assets$25,058 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$4,783 $4,184 
   Finance lease liabilities
Current portion of secured credit facilities and other
401 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities13,240 13,361 
   Finance lease liabilitiesSecured credit facilities and other5,923 233 
Total lease liabilities$24,347 $17,849 
(1) Recorded net of accumulated amortization of $149,000 and $143,000 as of October 2, 2021 and April 3, 2021, respectively.
The present value of minimum payments for future fiscal years under non-cancelable leases as of October 2, 2021 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2022$2,449 $206 $2,655 
20234,667 411 5,078 
20244,121 411 4,532 
20253,103 411 3,514 
20263,127 387 3,514 
20271,087 338 1,425 
Thereafter1,439 10,415 11,854 
19,993 12,579 32,572 
Less amount representing interest(1,970)(6,255)(8,225)
18,023 6,324 24,347 
Less current portion(4,783)(401)(5,184)
$13,240 $5,923 $19,163 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of October 2, 2021:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.94.5 %
   Finance leases34.94.5 %
Operating Leases Leases
We lease certain production and retail locations, office space and equipment. During the period ended October 2, 2021, we executed various lease renewals and acquired certain assets under finance leases.
The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of October 2, 2021 and April 3, 2021 (in thousands):
ClassificationOctober 2,
2021
April 3,
2021
ROU assets
Operating lease assets
Operating lease right-of-use assets
$16,706 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
8,352 986 
Total lease assets$25,058 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$4,783 $4,184 
   Finance lease liabilities
Current portion of secured credit facilities and other
401 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities13,240 13,361 
   Finance lease liabilitiesSecured credit facilities and other5,923 233 
Total lease liabilities$24,347 $17,849 
(1) Recorded net of accumulated amortization of $149,000 and $143,000 as of October 2, 2021 and April 3, 2021, respectively.
The present value of minimum payments for future fiscal years under non-cancelable leases as of October 2, 2021 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
Remainder of 2022$2,449 $206 $2,655 
20234,667 411 5,078 
20244,121 411 4,532 
20253,103 411 3,514 
20263,127 387 3,514 
20271,087 338 1,425 
Thereafter1,439 10,415 11,854 
19,993 12,579 32,572 
Less amount representing interest(1,970)(6,255)(8,225)
18,023 6,324 24,347 
Less current portion(4,783)(401)(5,184)
$13,240 $5,923 $19,163 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of October 2, 2021:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.94.5 %
   Finance leases34.94.5 %