Quarterly report [Sections 13 or 15(d)]

Operating Leases

v3.25.2
Operating Leases
6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
OPERATING LEASES

5. OPERATING LEASES

The Company leases machinery, equipment, vehicles, buildings and office space, throughout its locations, which are classified as operating leases. Remaining terms on these leases range from less than one year to nine years. For the six months ended June 28, 2025, and June 29, 2024, operating lease costs totaled $3.9 and $3.7, respectively.

Supplemental balance sheet information related to operating leases is as follows:

 

 

June 28, 2025

 

 

December 28, 2024

 

Right-of-use assets

 

$

17.6

 

 

$

22.9

 

Lease liabilities:

 

 

 

 

 

 

Current lease liabilities

 

$

4.7

 

 

$

4.4

 

Non-current lease liabilities

 

 

14.5

 

 

 

20.3

 

Total lease liabilities

 

$

19.2

 

 

$

24.7

 

 

 

 

 

 

 

 

Weighted average remaining lease term (in years):

 

 

2.5

 

 

 

 

Weighted average discount rate:

 

 

3.5

%

 

 

 

Supplemental cash flow information related to leases is as follows:

 

 

Six Months Ended

 

 

 

June 28, 2025

 

 

June 29, 2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

3.3

 

 

$

4.0

 

Non-cash impact of new leases and lease modifications

 

$

1.7

 

 

$

1.5

 

Maturities of lease liabilities are as follows:

2025 Remaining

 

 

 

$

3.4

 

2026

 

 

 

 

4.5

 

2027

 

 

 

 

3.4

 

2028

 

 

 

 

3.1

 

2029

 

 

 

 

2.9

 

2030

 

 

 

 

2.6

 

Thereafter

 

 

 

 

3.8

 

Total lease payments

 

 

 

 

23.6

 

Less: Imputed interest

 

 

 

 

(4.4

)

Total lease obligations

 

 

 

 

19.2

 

Less: Current lease liabilities

 

 

 

 

(4.7

)

Non-current lease liabilities

 

 

 

$

14.5