Property & Equipment |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property & Equipment | Property & Equipment Property and equipment consisted of the following:
Depreciation expense for the years ended January 1, 2024 and January 2, 2023 was $4.7 million and $8.7 million, respectively.
The Company's long-lived assets are reviewed for impairment annually and whenever there are triggering events that require us to perform this review. The Company recorded $1.8 million and $3.1 million of property and equipment impairment during the years ended January 1, 2024 and January 2, 2023, respectfully. Refer to Note 5, “Impairment,” for further discussion.
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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