Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.3
Leases (Tables)
12 Months Ended
Sep. 28, 2024
Leases [Abstract]  
Summary of Components of Lease Expense

The following table summarizes the components of lease expense (in thousands):

 

 

 

Year Ended

 

 

 

September 28, 2024

 

 

September 30, 2023

 

 

October 1, 2022

 

Operating lease expense

 

$

83,982

 

 

$

79,741

 

 

$

72,922

 

Finance lease amortization of ROU asset

 

 

165

 

 

 

 

 

 

 

Finance lease interest on lease liability

 

 

15

 

 

 

 

 

 

 

Total net lease expense

 

$

84,162

 

 

$

79,741

 

 

$

72,922

 

Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases

The following table presents the weighted-average remaining lease term and discount rate for both operating and financing leases:

 

 

 

September 28, 2024

 

 

September 30, 2023

 

Weighted-average remaining operating lease term

 

5.3 years

 

 

5.0 years

 

Weighted-average discount rate - operating leases

 

 

6.4

%

 

 

6.2

%

Weighted-average remaining finance lease term

 

1.4 years

 

 

 

-

 

Weighted-average discount rate - finance leases

 

 

5.0

%

 

 

-

 

Schedule of Future Annual Minimum Lease Payments for Operating and Financing Leases

The following table summarizes the future annual minimum lease payments for both operating and financing leases as of September 28, 2024 (in thousands):

 

 

 

Operating

 

 

Financing

 

2025

 

$

78,328

 

 

$

323

 

2026

 

 

83,619

 

 

 

128

 

2027

 

 

61,402

 

 

 

 

2028

 

 

39,471

 

 

 

 

2029

 

 

24,282

 

 

 

 

Thereafter

 

 

44,682

 

 

 

 

Total

 

$

331,784

 

 

$

451

 

Less: amount of lease payments representing imputed interest

 

 

59,360

 

 

 

15

 

Present value of future minimum lease payments

 

 

272,424

 

 

 

436

 

Less: current lease liabilities

 

 

63,357

 

 

 

313

 

Lease liabilities, noncurrent

 

$

209,067

 

 

$

123