Leases (Tables)

12 Months Ended

Dec. 30, 2023

Leases [Abstract]

Components of lease expense

The components of lease expense are as follows:

(In thousands)	December 30, 2023		December 31, 2022		January 1, 2022
Operating Lease Cost (a)	$	6,355	$	5,870	$	5,895
Short-Term Lease Cost	698		697		674
Finance Lease Cost:
ROU asset amortization	1,103		1,026		1,045
Interest on lease liabilities	74		52		46
Total Finance Lease Cost	1,177		1,078		1,091
Total Lease Costs	$	8,230	$	7,645	$	7,660

(a) Includes variable lease costs of $961,000 in 2023, $478,000 in 2022, and $670,000 in 2021.

Supplemental cash flow information related to leases is as follows:

(In thousands)	December 30, 2023		December 31, 2022		January 1, 2022
Cash Paid for Amounts Included in the Measurement of Lease Liabilities:
Operating cash flows from operating leases	$	6,475	$	6,159	$	12,474
Operating cash flows from finance leases	$	74	$	51	$	46
Financing cash flows from finance leases	$	1,100	$	1,002	$	1,044
ROU Assets Obtained in Exchange for Lease Obligations:
Operating leases	$	8,120	$	4,002	$	7,247
Finance leases	$	989	$	1,468	$	1,147

Supplemental balance sheet information

Supplemental balance sheet information related to leases is as follows:

(In thousands)	Balance Sheet Line Item	December 30, 2023		December 31, 2022
Operating Leases:
ROU assets	Other assets	25,129		22,642
Total operating lease assets		$	25,129	$	22,642
Short-term liabilities	Other current liabilities	$	5,389	$	4,458
Long-term liabilities	Other long-term liabilities	19,350		17,817
Total operating lease liabilities		$	24,739	$	22,275
Finance Leases:
ROU assets, at cost	Property, plant, and equipment, at cost	$	4,037	$	3,901
ROU assets accumulated amortization	Accumulated depreciation and amortization	(2,288)		(1,994)
ROU assets, net	Property, plant, and equipment, net	$	1,749	$	1,907
Short-term obligations	Short-term obligations and current maturities of long-term obligations	$	983	$	981
Long-term obligations	Long-term obligations	806		959
Total finance lease liabilities		$	1,789	$	1,940

	December 30, 2023		December 31, 2022
Weighted Average Remaining Lease Term (in years):
Operating leases	6.8		8.0
Finance leases	2.0		2.2
Weighted Average Discount Rate:
Operating leases	4.08	%	3.88	%
Finance leases	4.71	%	3.79	%

Future lease payments for operating lease liabilities

As of December 30, 2023, future lease payments for lease liabilities are as follows:

	Operating		Finance
(In thousands)	Leases		Leases
2024	$	6,282	$	1,043
2025	4,982		646
2026	3,986		185
2027	3,309		—
2028	2,093		—
2029 and Thereafter	7,829		—
Total Future Lease Payments	28,481		1,874
Less: Imputed Interest	(3,742)		(85)
Present Value of Lease Payments	$	24,739	$	1,789

Future lease payments for finance lease liabilities

As of December 30, 2023, future lease payments for lease liabilities are as follows:

	Operating		Finance
(In thousands)	Leases		Leases
2024	$	6,282	$	1,043
2025	4,982		646
2026	3,986		185
2027	3,309		—
2028	2,093		—
2029 and Thereafter	7,829		—
Total Future Lease Payments	28,481		1,874
Less: Imputed Interest	(3,742)		(85)
Present Value of Lease Payments	$	24,739	$	1,789