XML 84 R18.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Leases | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Leases | 11. Leases Related to the adoption of Topic 842, and for leases executed subsequent to the adoption of Topic 842 our policy elections are as follows:
Separation of lease and non-lease components |  | We elected this expedient to account for lease and non-lease components as a single component for our entire population of operating lease assets.
Short-term policy |  | We have elected the short-term lease recognition exemption for all applicable classes of underlying assets. Short-term disclosures include only those leases with a term greater than one month and 12 months or less, and expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less, that do not include an option to purchase the underlying asset that we are reasonably certain to exercise, are not recorded on the consolidated balance sheets.
Supplemental balance sheet information related to leases was as follows:
|  |  |  |  | December 31,
Operating Leases | Classification |  |  |  | 2019
Right-of-use assets | Operating lease assets |  |  |  | $ | 2,505,466
Current lease liabilities | Current operating lease liabilities |  |  |  |  | 173,139
Non-current lease liabilities | Long-term operating lease liabilities |  |  |  |  | 2,678,374
Total lease liabilities |  |  |  |  | $ | 2,851,513
|  |  |  | December 31,
|  |  |  | 2019
Weighted average remaining lease term (years) |  |  |  |  | 13.4
Weighted average discount rate |  |  |  |  | 5.19%
The components of lease cost were as follows:
|  | Three months ended |  | Year ended
|  | December 31, |  | December 31,
| Classification | 2019 |  | 2019
Operating lease cost | Occupancy, General and administrative expenses and Pre-opening costs | $ | 79,597 |  | $ | 308,586
Short-term lease cost | Other operating costs |  | 1,027 |  |  | 3,238
Variable lease cost | Occupancy |  | 9,019 |  |  | 36,828
Sublease income | General and administrative expenses |  | (824) |  |  | (3,385)
Total lease cost |  | $ | 88,819 |  | $ | 345,267
Supplemental disclosures of cash flow information related to leases were as follows:
| Three months ended |  | Year ended
| December 31, |  | December 31,
| 2019 |  | 2019
Cash paid for operating lease liabilities | $ | 75,189 |  | $ | 295,113
Operating lease assets obtained in exchange for operating lease liabilities(1) | $ | 83,079 |  | $ | 2,702,778
Derecognition of operating lease assets due to terminations or impairment | $ | 3,755 |  | $ | 17,740
(1) Amounts for the year ended December 31, 2019, include the transition adjustment for the adoption of Topic 842 discussed in Note 1. “Description of Business and Summary of Significant Accounting Policies.” Maturities of lease liabilities were as follows as of December 31, 2019:
| Operating Leases
2020 | $ | 286,807
2021 |  | 313,729
2022 |  | 313,577
2023 |  | 309,068
2024 |  | 297,457
Thereafter |  | 2,483,595
Total lease payments |  | 4,004,233
Less: imputed interest |  | 1,152,720
Present value of lease liabilities | $ | 2,851,513
As of December 31, 2019, the total lease payments include $2,127,446 related to options to extend lease terms that are reasonably certain of being exercised, and exclude approximately $105,000 of legally binding minimum lease payments for leases signed but not yet commenced and $9,514 of future sublease income. As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting, maturities of lease liabilities were as follows as of December 31, 2018:
| Operating Leases
2019 | $ | 294,191
2020 |  | 296,579
2021 |  | 294,941
2022 |  | 295,290
2023 |  | 290,980
Thereafter |  | 2,478,397
Total minimum lease payments | $ | 3,950,378
As of December 31, 2018, maturities of lease liabilities have not been reduced by minimum sublease income of $11,790 due in the future under our subleases. As of December 31, 2018, we had $90,484 of legally binding minimum lease payments related to leases that have not yet commenced. We have six sale and leaseback transactions, which do not qualify for sale leaseback accounting due to fixed price renewal options prohibiting sale accounting. These transactions are accounted for under the financing method. Under the financing method, the assets remain on the consolidated balance sheets and the proceeds from the transactions are recorded as a financing liability. A portion of lease payments are applied as payments of deemed principal and imputed interest. The deemed landlord financing liability was $2,390 as of December 31, 2018, with the current portion of the liability included in accrued liabilities, and the remaining portion included in other liabilities on the consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration