Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v3.24.0.1
Property and Equipment, Net
12 Months Ended
Dec. 30, 2023
Property and Equipment, Net  
Property and Equipment, Net

Note 3 – Property and Equipment, Net

The Company’s property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expense for fiscal years 2023, 2022 and 2021 was $16,690, $13,607 and $9,895, respectively. The cost and related accumulated depreciation of assets retired or otherwise disposed of are removed from the accounts and the resultant gain or loss is reflected in earnings. Repairs and maintenance are expensed as incurred.

Property and equipment consisted of the following as of December 30, 2023 and December 31, 2022:

    

December 30, 2023

    

December 31, 2022

Machinery and equipment

$

10,150

$

10,660

Computer software (purchased and developed) and equipment

 

24,523

 

24,143

Vehicles

 

180

 

305

Leasehold improvements

 

2,751

 

2,457

Furniture and fixtures

 

540

 

513

Construction in process

 

12,006

 

10,341

 

50,150

 

48,419

Less accumulated depreciation and amortization

 

(23,761)

 

(24,129)

Property and equipment, net

$

26,389

$

24,290

Construction in process primarily relates to the Company’s internally developed software.

Depreciation and amortization of property and equipment is calculated by using the straight-line method for financial reporting purposes, at rates based on the following estimated useful lives:

    

Years

Machinery and equipment

 

2

-

 5

Computer software (purchased and developed)

 

2

-

 5

Computer equipment

 

2

-

 5

Vehicles

 

3

-

 5

Leasehold improvements*

 

3

-

 5

Furniture and fixtures

 

3

-

 7

*

The estimated useful life is the lesser of 3-5 years or the lease term, whichever is shorter.