XML 49 R34.htm IDEA: XBRL DOCUMENT v3.22.0.1
Leases (Tables)
12 Months Ended
Dec. 25, 2021
Leases [Abstract]  
Summary of Lease Costs Recognized in the Company's Consolidated Statements of Income Lease costs are included in selling, general and administrative expense and research and development expense on the Company’s Condensed Consolidated Statements of Income.

 

 

 

Fiscal Year Ended

 

 

 

December 25, 2021

 

 

December 26, 2020

 

Operating lease cost (1)

 

$

35,114

 

 

$

29,894

 

 

(1) Operating lease cost includes short-term lease costs and variable lease costs, which were not material in the period presented.

Components of Leases Recognized on the Company's Consolidated Balance Sheets

The following table represents the components of leases that are recognized on the Company’s Consolidated Balance Sheets as of December 25, 2021 and December 26, 2020.

 

 

 

December 25, 2021

 

 

December 26, 2020

 

Operating lease right-of-use assets

 

$

89,457

 

 

$

94,626

 

 

 

 

 

 

 

 

Other accrued expenses

 

$

20,503

 

 

$

18,874

 

Noncurrent operating lease liabilities

 

 

70,044

 

 

 

75,958

 

Total lease liabilities

 

$

90,547

 

 

$

94,832

 

 

 

 

 

 

 

 

Weighted average remaining lease term

 

5.6 years

 

 

6.3 years

 

Weighted average discount rate

 

 

3.3

%

 

 

3.6

%

Schedule of Maturity of Lease Liabilities

The following table represents the maturity of lease liabilities.

 

Year

 

Amount

 

2022

 

$

23,276

 

2023

 

 

21,313

 

2024

 

 

17,220

 

2025

 

 

12,835

 

2026

 

 

7,086

 

Thereafter

 

 

17,791

 

Total

 

 

99,521

 

Less: imputed interest

 

 

(8,974

)

Present value of lease liabilities

 

 

90,547

 

Summary of Supplemental Cash Flow and Noncash Information Related to Leases

The following table presents supplemental cash flow and noncash information related to leases.

 

 

 

Fiscal Year Ended

 

 

 

December 25, 2021

 

 

December 26, 2020

 

Cash paid for amounts included in the measurement of operating lease liabilities (2)

 

$

24,930

 

 

$

20,401

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

16,229

 

 

$

39,009

 

 

(2) Included in net cash provided by operating activities on the Company's Statements of Cash Flows