The Company has a non-cancelable operating lease for office, research and development, engineering, laboratory, storage and/or warehouse uses in Dublin, California for months from through The Company agreed to pay an aggregate base rent of for the period of months, with an annual increase of per rentable square foot for each subsequent year. The lease provided for rent abatement of during the initial months of the lease term, subject to the Company performing the terms and conditions required under the lease, and certain tenant improvements completed at the landlord's expense of

 

Per the terms of the Company's lease agreements, the Company does have any residual value guarantees. In calculating the present value of the lease payments, the Company has elected to utilize its incremental borrowing rate. The Company has elected for facility operating leases to separate each lease component from its associated non-lease components. The building lease includes variable payments (i.e. common area maintenance) which are charged and paid separately from rent based on actual costs incurred and therefore are included in the right-of-use asset and liability but reflected in operating expense in the period incurred.

 

For the months ended:

 

			June 27,
	Classification		2020
Operating lease costs	Operating expenses		$	133
Finance lease:
Amortization of lease asset	Depreciation and amortization			8
Interest on lease liability	Interest expense			—
Total lease costs			$	141

 

Other information:          

 

For the three months ended: June 27, 2020		Operating leases				Finance leases
Operating cash used for leases		$	147				—
Financing cash used for leases			—			$	11
Weighted-average remaining lease term (years)			3.39				0.47
Weighted-average discount rate			6.50	%			12.00	%

 

Future lease payments as of were as follows:

 

		Operating leases				Finance leases				Total
Remainder 2021		$	366			$	9			$	375
2022			503				—				503
2023			514				—				514
Thereafter			209				—				209
Total future minimum lease payments			1,592				9				1,601
Less: imputed interest			(151	)			—				(151	)
Present value of lease liabilities		$	1,441			$	9			$	1,450