XML 25 R14.htm IDEA: XBRL DOCUMENT

Note 7 - Leases

3 Months Ended

Apr. 01, 2023

We have operating leases for corporate offices, sales offices, research and development facilities, storage facilities, and a data center. All of our facilities are leased under operating leases, which expire at various times through 2028, with a weighted-average remaining lease term of 3.4 years and a weighted-average discount rate of 5.4% as of April 1, 2023.

We recorded fixed operating lease expenses of $1.9 million and $2.0 million for the first quarter of fiscal 2023 and 2022, respectively.

The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during the first three months of fiscal 2023:

Operating lease right-of-use assets	(In thousands)
Balance as of December 31, 2022	$	17,590
Right-of-use assets obtained for new lease contracts during the period		40
Amortization of right-of-use assets during the period		(1,657	)
Adjustments for present value and foreign currency effects		81
Balance as of April 1, 2023	$	16,054

Operating lease liabilities	(In thousands)
Balance as of December 31, 2022	$	20,072
Lease liabilities incurred for new lease contracts during the period		40
Accretion of lease liabilities		257
Operating cash used by payments on lease liabilities		(2,000	)
Adjustments for present value and foreign currency effects		72
Balance as of April 1, 2023		18,441
Less: Current portion of operating lease liabilities (included in Accrued liabilities)		(6,429	)
Long-term operating lease liabilities, net of current portion	$	12,012

Maturities of operating lease liabilities as of April 1, 2023 are as follows:

Fiscal year	(In thousands)
2023 (Remaining 3 quarters)		5,551
2024		6,085
2025		4,154
2026		2,556
2027		1,110
Thereafter		934
Total lease payments		20,390
Less: amount representing interest		(1,949	)
Total lease liabilities	$	18,441

Lease obligations for facilities restructured prior to the adoption of Topic 842 totaled approximately $5.6 million at April 1, 2023 and continued to be recorded in Other long-term liabilities on our Consolidated Balance Sheets.