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Leases
 3 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases Leases
The Company has several commitments under operating and financing leases for warehouses, manufacturing facilities, office buildings, and equipment with initial terms that expire at various dates during the next 1 year to 10 years.
The Company has some leases that include an extension clause. Management has considered the likelihood of exercising each extension option included and estimated the duration of the extension option, for those leases management determined to be reasonably certain, in calculating the lease term for measurement of the right of use asset and liability.
For operating leases, management assumed a discount rate of 4.2%. The weighted average discount rate is disclosed in the tables below.
The components of lease cost for the three months ended September 30, 2023 and October 1, 2022 were (in thousands): 
Lease costClassificationSeptember 30, 2023October 1, 2022
Operating lease costCost of sales$1,126 $1,334 
Operating lease costSelling, general and administrative expenses$184 $184 
Financing lease costCost of sales$1,279 $900 
Financing lease costSelling, general and administrative expenses$55 $38 
Total lease cost$2,644 $2,456 
Fixed lease cost$1,547 $2,221 
Short-term lease cost $1,097 $235 
Total lease cost$2,644 $2,456 

Amounts reported in the Consolidated Balance Sheet as of September 30, 2023 were (in thousands, except weighted average lease term and discount rate):
September 30, 2023
Operating Leases:
Operating lease right of use assets$15,928
Operating lease liabilities (1)
$15,928
Weighted-average remaining lease term (in years)
Operating leases4.52
Weighted-average discount rate
Operating leases4.2%
Financing Leases (2):
Financing lease right of use assets$5,952
Financing lease liabilities$4,511
Weighted-average remaining lease term (in years)
Financing leases1.64
Weighted-average discount rate
Financing leases10.6%
(1) The current portion of the total operating lease liabilities of $5.0 million is classified under Other Current Liabilities, resulting in $10.9 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet.
(2) The total finance lease right of use assets of $6.0 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $3.3 million is classified under Current portion of debt, net, resulting in $1.2 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet.
Other information related to leases was as follows (in thousands):
Three Months Ended
September 30, 2023October 1, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$1,528 $1,847 
Financing cash flows used in financing leases$1,326 $1,022 
Future lease payments under non-cancellable leases as of September 30, 2023 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
2024 (1)
$3,895 $2,552 
2025$4,186 $1,909 
2026$3,472 $501 
2027$2,536 $— 
2028$1,551 $— 
Thereafter$1,689 $— 
Total undiscounted lease payments$17,329 $4,962 
Less: present value discount$(1,401)$(451)
Total lease liabilities$15,928 $4,511 
(1) Represents estimated lease payments for the remaining nine-month period ending June 29, 2024.
Leases Leases
The Company has several commitments under operating and financing leases for warehouses, manufacturing facilities, office buildings, and equipment with initial terms that expire at various dates during the next 1 year to 10 years.
The Company has some leases that include an extension clause. Management has considered the likelihood of exercising each extension option included and estimated the duration of the extension option, for those leases management determined to be reasonably certain, in calculating the lease term for measurement of the right of use asset and liability.
For operating leases, management assumed a discount rate of 4.2%. The weighted average discount rate is disclosed in the tables below.
The components of lease cost for the three months ended September 30, 2023 and October 1, 2022 were (in thousands): 
Lease costClassificationSeptember 30, 2023October 1, 2022
Operating lease costCost of sales$1,126 $1,334 
Operating lease costSelling, general and administrative expenses$184 $184 
Financing lease costCost of sales$1,279 $900 
Financing lease costSelling, general and administrative expenses$55 $38 
Total lease cost$2,644 $2,456 
Fixed lease cost$1,547 $2,221 
Short-term lease cost $1,097 $235 
Total lease cost$2,644 $2,456 

Amounts reported in the Consolidated Balance Sheet as of September 30, 2023 were (in thousands, except weighted average lease term and discount rate):
September 30, 2023
Operating Leases:
Operating lease right of use assets$15,928
Operating lease liabilities (1)
$15,928
Weighted-average remaining lease term (in years)
Operating leases4.52
Weighted-average discount rate
Operating leases4.2%
Financing Leases (2):
Financing lease right of use assets$5,952
Financing lease liabilities$4,511
Weighted-average remaining lease term (in years)
Financing leases1.64
Weighted-average discount rate
Financing leases10.6%
(1) The current portion of the total operating lease liabilities of $5.0 million is classified under Other Current Liabilities, resulting in $10.9 million classified under Operating Lease Liabilities in the Long-term Liabilities section of the condensed consolidated balance sheet.
(2) The total finance lease right of use assets of $6.0 million is classified under Other Long-term Assets. The current portion of the total finance lease liabilities of $3.3 million is classified under Current portion of debt, net, resulting in $1.2 million classified in Other Long-term Liabilities section of the condensed consolidated balance sheet.
Other information related to leases was as follows (in thousands):
Three Months Ended
September 30, 2023October 1, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$1,528 $1,847 
Financing cash flows used in financing leases$1,326 $1,022 
Future lease payments under non-cancellable leases as of September 30, 2023 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
2024 (1)
$3,895 $2,552 
2025$4,186 $1,909 
2026$3,472 $501 
2027$2,536 $— 
2028$1,551 $— 
Thereafter$1,689 $— 
Total undiscounted lease payments$17,329 $4,962 
Less: present value discount$(1,401)$(451)
Total lease liabilities$15,928 $4,511 
(1) Represents estimated lease payments for the remaining nine-month period ending June 29, 2024.