|12 Months Ended|
Jan. 02, 2022
Note 6. Leases
The Company leases its headquarters, engineering and manufacturing space in Fremont, California under a single non-cancelable operating lease, right of use asset with an expiration date of August 31, 2030. In March 2021, the Company entered into a new agreement
to lease office space in Fremont, California under a noncancelable operating lease that expires in with an option to extend for five years.
The components of lease costs were as follows (in thousands):
Supplemental lease information:
Supplemental cash flow information related to leases are as follows (in thousands):
Maturities of Lease Liabilities
The following is a schedule of maturities of lease liabilities as of January 2, 2022 (in thousands).
Prior Year Lease Disclosure under ASC 840
Under the legacy accounting guidance ASC 840, rent expense for the fiscal year 2020 was $1.4 million.
Minimum commitments under noncancelable operating lease agreements as of December 31, 2020 is as follows (in thousands):
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef