Commitments and Contingencies (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Commitments and Contingencies. |
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| Schedule of Quantitative information regarding the Company's Leases |
Quantitative information regarding the Company’s leases are as follows (in thousands):
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Fiscal Year ended |
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December 31, 2022 |
January 1, 2022 |
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January 2, 2021 |
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Components of lease cost |
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Finance lease cost components |
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Amortization of finance lease assets |
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$ |
4,440 |
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$ |
2,571 |
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$ |
1,246 |
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Interest on finance lease liabilities |
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1,139 |
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|
1,111 |
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|
735 |
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Total finance lease costs |
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$ |
5,579 |
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$ |
3,682 |
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$ |
1,981 |
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Operating lease costs |
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$ |
4,107 |
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$ |
2,441 |
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$ |
1,890 |
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Total lease cost |
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$ |
9,686 |
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$ |
6,123 |
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$ |
3,871 |
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Supplemental cash flow information related to operating and finance leases is as follows: |
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Fiscal Year ended |
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December 31, 2022 |
January 1, 2022 |
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January 2, 2021 |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash outflow from operating leases |
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$ |
5,269 |
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$ |
3,399 |
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|
1,676 |
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Operating cash outflow from finance leases |
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1,139 |
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1,111 |
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|
735 |
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Financing cash outflow from finance leases |
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4,232 |
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2,164 |
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1,005 |
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Weighted-average remaining lease term-finance leases (in years) |
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5.8 |
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7.2 |
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8.9 |
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Weighted-average remaining lease term-operating leases (in years) |
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5.4 |
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6.3 |
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6.3 |
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Weighted-average discount rate-finance leases |
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5.72 |
% |
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6.06 |
% |
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6.53 |
% |
Weighted-average discount rate-operating leases |
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4.11 |
% |
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4.12 |
% |
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4.13 |
% |
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| Schedule of Lease Commitments - Finance lease |
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Finance Leases |
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Operating Leases |
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Total |
2023 |
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$ |
5,839 |
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$ |
5,551 |
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$ |
11,390 |
2024 |
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5,031 |
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5,528 |
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10,559 |
2025 |
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3,985 |
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5,139 |
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9,124 |
2026 |
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3,002 |
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4,464 |
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7,466 |
2027 |
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1,723 |
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4,424 |
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6,147 |
Thereafter |
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5,737 |
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4,039 |
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9,776 |
Total minimum payments required |
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25,317 |
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29,145 |
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54,462 |
Less portion representing interest |
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4,648 |
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3,162 |
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|
7,810 |
Present value of lease obligations |
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$ |
20,669 |
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$ |
25,983 |
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$ |
46,652 |
Less current portion of lease obligations |
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4,753 |
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4,571 |
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9,324 |
Long-term portion of lease obligations |
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$ |
15,916 |
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$ |
21,412 |
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$ |
37,328 |
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| Schedule of Lease Commitments - Operating lease |
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Finance Leases |
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Operating Leases |
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Total |
2023 |
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$ |
5,839 |
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$ |
5,551 |
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$ |
11,390 |
2024 |
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5,031 |
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5,528 |
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10,559 |
2025 |
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3,985 |
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5,139 |
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9,124 |
2026 |
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3,002 |
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4,464 |
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7,466 |
2027 |
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1,723 |
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4,424 |
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6,147 |
Thereafter |
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5,737 |
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4,039 |
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9,776 |
Total minimum payments required |
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25,317 |
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29,145 |
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54,462 |
Less portion representing interest |
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4,648 |
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3,162 |
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|
7,810 |
Present value of lease obligations |
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$ |
20,669 |
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$ |
25,983 |
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$ |
46,652 |
Less current portion of lease obligations |
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|
4,753 |
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4,571 |
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|
9,324 |
Long-term portion of lease obligations |
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$ |
15,916 |
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$ |
21,412 |
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$ |
37,328 |
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