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Commitments and Contingencies | 12 Months Ended
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Dec. 28, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Contractual Commitments At December 28, 2024, the Company had various non-cancelable obligations of approximately $160.4 million, of which $58.6 million is related to the construction of new stores under the Company’s fee development program. Commitments related to new stores are generally due as construction progresses, with obligations extending through 2025. The remaining $101.8 million in obligations is related to strategic investments related to information technology systems and inventory purchase obligations. The majority of these agreements are due within 3 years and are recorded as liabilities when the goods are received or the services are rendered. In addition, the Company had $387.5 million le gally binding minimum lease payments for leases signed, but not yet commenced. Letters of Credit At December 28, 2024, there were $74.1 million outstanding letters of credit. Litigation The Company is involved in various litigation matters arising in the ordinary course of business. The Company believes that, based upon information currently available, any estimated loss related to such matters has been adequately provided for in accrued liabilities to the extent probable and reasonably estimable. Accordingly, the Company currently expects these matters will be resolved without material adverse effect on its consolidated financial position, results of operations or cash flows. However, litigation and other legal matters involve an element of uncertainty. Future developments in such matters, including adverse decisions or settlements or resulting required changes to the Company’s business operations, could affect our consolidated operating results when resolved in future periods or could result in liability or other amounts material to the Company’s Consolidated Financial Statements.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/450/tableOfContent + Details
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