v3.24.2
Leases
 12 Months Ended
May 25, 2024
Lessee Disclosure [Abstract]  
Leases Leases
Lease cost components included within selling, general and administrative expenses in the Consolidated Statements of Operations were as follows (in thousands):
For the Years Ended
May 25, 2024May 27, 2023May 28, 2022
Operating lease cost$7,280 $7,242 $8,766 
Short-term lease cost192 118 89 
Variable lease cost1,586 1,279 22 
Sublease income (1)
(740)(516)(994)
Total lease cost$8,318 $8,123 $7,883 
(1)Sublease income does not include rental income received from owned property.
The weighted-average lease terms and discount rates for operating leases are presented in the following table:
As of
May 25, 2024		As of
May 27, 2023
Weighted-average remaining lease term3.5 years3.4 years
Weighted-average discount rate4.37%3.97%
Cash flow and other information related to operating leases is included in the following table (in thousands):
For the Years Ended
May 25, 2024May 27, 2023May 28, 2022
Cash paid for amounts included in the measurement of operating lease liabilities$8,406 $9,258 $11,187 
Right-of-use assets obtained in exchange for new operating lease obligations$3,707 $4,688 $1,748 
Future maturities of operating lease liabilities at May 25, 2024 are presented in the following table (in thousands):
Fiscal YearsOperating Lease Maturity
2025$5,482 
20263,589 
20272,329 
20281,938 
20291,113 
Thereafter305 
Total future lease payments14,756 
Less: interest(1,435)
Present value of operating lease liabilities$13,321 
The Company, as a lessor, leases approximately 13,000 square feet of the approximately 57,000 square feet of a company-owned building located in Irvine, California to independent third parties and has operating lease agreements for sublet space with independent third parties expiring in fiscal 2025. Rental income received for the years ended May 25, 2024, May 27, 2023 and May 28, 2022 totaled $142,000, $195,000 and $199,000, respectively. Under the terms of these operating lease agreements, rental income from such third-party leases is expected to be $8,344 in fiscal 2025.