Leases

12 Months Ended

Mar. 30, 2024

The Company has operating leases for corporate offices and certain office equipment. Our leases have remaining lease terms of 1 year to 25 years, some of which include options to extend the leases that are considered reasonably certain to be exercised. There are no residual value guarantees in any of our leases. No restrictions or covenants have been imposed on the Company as a result of the lease agreements in place. All of the Company’s leases have been classified as operating leases.

The components of net operating lease expense were as follows (in thousands):


	Fiscal Years Ended
	March 30, 2024		March 25, 2023
Operating lease - in excess of 12 months	$	17,498	$	18,071
Variable lease	5,259		6,226
Short-term lease	853		86
Operating lease income	(164)		(464)
Total net operating lease expense	$	23,446	$	23,919

Supplemental operating lease information:


	Fiscal Years Ended
	March 30, 2024			March 25, 2023
Balance Sheet Information (in thousands)
Operating lease right-of-use assets	$	138,288		$	128,145
Operating lease liabilities	$	155,216		$	141,073

Cash Flow Information (in thousands)
Operating cash flows from operating leases	$	19,189		$	14,531
Non-Cash Information
Right-of-use assets obtained in exchange for new operating lease liabilities	24,784			4,381
Lease remeasurements	(1,606)			(28,965)
Lease impairments and other related charges	(563)			(5,579)

Operating Lease Information
Weighted-average remaining lease term - operating leases (in years)	12			13
Weighted-average discount rate - operating leases	4		%	4		%

Subsequent to March 30, 2024, the Company entered into additional operating leases, with a total estimated lease liability of approximately $5 million, with lease terms ranging from 1 to 10 years.

Future lease commitments under non-cancellable leases, including extension options reasonably anticipated to be exercised as of March 30, 2024, are as follows (in thousands):


Fiscal Year	Operating Lease Commitments
2025	$	21,006
2026	20,823
2027	18,705
2028	19,121
2029	17,922
Thereafter	102,968
Total	$	200,545
Less imputed interest and other	(45,329)
Total	$	155,216

Operating lease liabilities consisted of the following (in thousands):


	March 30, 2024		March 25, 2023
Current lease liabilities	$	20,640	$	18,442
Non-current lease liabilities	134,576		122,631
Total operating lease liabilities	$	155,216	$	141,073