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Lease Obligations and Other Commitments (Tables)
9 Months Ended
Feb. 27, 2021
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Gross Amount Assets and Liabilities Related to Operating and Financing Leases

The gross amounts of assets and liabilities related to both operating and financing leases were as follows (in thousands):

 

Lease Type

 

February 27, 2021

 

 

May 30, 2020

 

Operating lease ROU asset

 

$

2,640

 

 

$

3,018

 

Financing lease ROU asset

 

 

331

 

 

 

401

 

Total Lease ROU asset

 

$

2,971

 

 

$

3,419

 

 

 

 

 

 

 

 

 

 

Operating lease liability current

 

$

1,078

 

 

$

1,329

 

Financing lease liability current

 

 

161

 

 

 

156

 

Total lease liability current

 

$

1,239

 

 

$

1,485

 

 

 

 

 

 

 

 

 

 

Operating lease liability non-current

 

$

1,599

 

 

$

1,778

 

Financing lease liability non-current

 

 

30

 

 

 

163

 

Total lease liability non-current

 

$

1,629

 

 

$

1,941

 

Components of Lease Costs

The components of lease costs were as follows (in thousands):

 

 

 

 

 

Three Months Ended

 

 

 

 

 

February 27, 2021

 

 

February 29, 2020

 

Consolidated operating lease expense

 

Operating expenses

 

$

484

 

 

$

481

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated financing lease amortization

 

Operating expenses

 

 

23

 

 

 

23

 

Consolidated financing lease interest

 

Interest expense

 

 

2

 

 

 

4

 

Consolidated financing lease expense

 

 

 

 

25

 

 

 

27

 

 

 

 

 

 

 

 

 

 

 

 

Net lease cost

 

 

 

$

509

 

 

$

508

 

 

 

 

 

 

 

Nine Months Ended

 

 

 

 

 

February 27, 2021

 

 

February 29, 2020

 

Consolidated operating lease expense

 

Operating expenses

 

$

1,474

 

 

$

1,427

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated financing lease amortization

 

Operating expenses

 

 

69

 

 

 

39

 

Consolidated financing lease interest

 

Interest expense

 

 

9

 

 

 

18

 

Consolidated financing lease expense

 

 

 

 

78

 

 

 

57

 

 

 

 

 

 

 

 

 

 

 

 

Net lease cost

 

 

 

$

1,552

 

 

$

1,484

 

 

 

Schedule of Future Minimum Lease Payments under Operating and Financing Leases

The approximate future minimum lease payments under operating and financing leases at February 27, 2021 were as follows (in thousands):

 

Fiscal Year

 

Operating Leases

 

 

Financing Leases

 

 

Total

 

Remaining 2021

 

$

386

 

 

$

45

 

 

$

431

 

2022

 

 

973

 

 

 

151

 

 

 

1,124

 

2023

 

 

691

 

 

 

 

 

 

691

 

2024

 

 

454

 

 

 

 

 

 

454

 

2025

 

 

230

 

 

 

 

 

 

230

 

Thereafter

 

 

126

 

 

 

 

 

 

126

 

Total lease payments

 

 

2,860

 

 

 

196

 

 

 

3,056

 

Less imputed interest

 

 

183

 

 

 

5

 

 

 

188

 

Net minimum lease payments

 

$

2,677

 

 

$

191

 

 

$

2,868

 

Schedule of Weighted Average Remaining Lease Terms and Interest Rates of Leases

 

The weighted average remaining lease terms and interest rates of leases held by the Company as of February 27, 2021 were as follows:

 

Lease Type

 

Weighted Average Remaining

Lease Term in Years

 

Weighted Average Interest Rate

 

Operating leases

 

2.8

 

4.6%

 

Financing leases

 

1.1

 

4.6%

 

Schedule of Cash Outflows of Leasing Activity

The cash outflows of the leasing activity of the Company as lessee for the nine months ending February 27, 2021 were as follows (in thousands):

 

Cash Flow Source

 

Classification

 

Amount

 

Operating cash flows from operating leases

 

Operating activities

 

$

430

 

Operating cash flows from financing leases

 

Operating activities

 

 

127

 

Finance cash flows from financing leases

 

Financing activities

 

 

136