Leases

12 Months Ended

Dec. 31, 2022

6. Leases

The following table represents lease costs recognized in the Company’s consolidated statements of income for the 53-weeks ended December 31, 2022. Lease costs are included in selling, general and administrative expense and research and development expense on the Company’s consolidated statements of income.


	Fiscal Year Ended
	December 31, 2022		December 25, 2021
Operating lease cost (1)	$	40,679	$	35,114

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

The following table represents the components of leases that are recognized on the Company’s consolidated balance sheets as of December 31, 2022 and December 25, 2021.


	December 31, 2022			December 25, 2021
Operating lease right-of-use assets	$	138,040		$	89,457

Other accrued expenses	$	25,149		$	20,503
Noncurrent operating lease liabilities		114,541			70,044
Total lease liabilities	$	139,690		$	90,547

Weighted average remaining lease term	7.3 years			5.6 years
Weighted average discount rate		3.3	%		3.3	%

The following table represents the maturity of lease liabilities.


Year	Amount
2023	$	30,713
2024		27,618
2025		22,094
2026		14,962
2027		13,216
Thereafter		52,737
Total		161,340
Less: imputed interest		(21,650	)
Present value of lease liabilities		139,690

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


	Fiscal Year Ended
	December 31, 2022		December 25, 2021
Cash paid for amounts included in the measurement of operating lease liabilities (2)	$	28,714	$	24,930
Right-of-use assets obtained in exchange for new operating lease liabilities	$	68,188	$	16,229

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