Note 11 - Leases |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 03, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lessee, Operating Leases [Text Block] |
Note 11 – Leases
The Company made cash payments related to its recognized operating leases of $480,000 and $497,000 during the three months ended July 3, 2022 and June 27, 2021, respectively. Such payments reduced the operating lease liabilities and were included in the cash flows provided by operating activities in the accompanying unaudited condensed consolidated statements of cash flows. As of July 3, 2022, the Company’s operating leases have a weighted-average remaining lease term of 1.7 years and the weighted-average discount rate is 3.6%.
During the three-month periods ended July 3, 2022 and June 27, 2021, the Company classified its operating lease costs within the accompanying unaudited condensed consolidated statements of income as follows (in thousands):
The maturities of the Company’s operating lease liabilities as of July 3, 2022 are as follows (in thousands):
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