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Leases

12 Months Ended

Dec. 26, 2023

Leases

Leases

(8) Leases

We recognize right-of-use assets and lease liabilities for both real estate and equipment leases that have a term in excess of one year. As of December 26, 2023 and December 27, 2022, these amounts were as follows:

​

​	​	​	​	​	​	​	​	​
​	December 26, 2023
​	Real estate		​	Equipment		​	Total
Operating lease right-of-use assets	$	686,271	​	$	7,743	​	$	694,014
​	​	​	​	​	​	​	​	​
Current portion of operating lease liabilities	​	25,812	​	​	1,599	​	​	27,411
Operating lease liabilities, net of current portion	​	740,446	​	​	3,030	​	​	743,476
Total operating lease liabilities	$	766,258	​	$	4,629	​	$	770,887
​	​	​	​	​	​	​	​	​

​

​	​	​	​	​	​	​	​	​
​	December 27, 2022
​	Real estate		​	Equipment		​	Total
Operating lease right-of-use assets	$	625,164	​	$	5,094	​	$	630,258
​	​	​	​	​	​	​	​	​
Current portion of operating lease liabilities	​	23,803	​	​	1,687	​	​	25,490
Operating lease liabilities, net of current portion	​	674,468	​	​	3,406	​	​	677,874
Total operating lease liabilities	$	698,271	​	$	5,093	​	$	703,364
​	​	​	​	​	​	​	​	​

​

Information related to our real estate operating leases for the fiscal years ended December 26, 2023 and December 27, 2022 were as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	Fiscal Year Ended					​
Real estate costs	​	​	​	​	December 26, 2023	​	​	December 27, 2022	​
Operating lease	​	​	​	$	75,068	​	$	68,742	​
Variable lease	​	​	​	​	5,079	​	​	4,393	​
Total lease costs	​	​	​	$	80,147	​	$	73,135	​
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
Real estate lease liabilities maturity analysis	​	​	​	​	​	​	​	December 26, 2023	​
2024	​	​	​	​	​	​	$	73,511	​
2025	​	​	​	​	​	​	​	72,379	​
2026	​	​	​	​	​	​	​	72,279	​
2027	​	​	​	​	​	​	​	72,690	​
2028	​	​	​	​	​	​	​	73,328	​
Thereafter	​	​	​	​	​	​	​	968,299	​
Total	​	​	​	​	​	​	$	1,332,486	​
Less interest	​	​	​	​	​	​	​	566,228	​
Total discounted operating lease liabilities	​	​	​	​	​	​	$	766,258	​
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	​	​	Fiscal Year Ended					​
Real estate leases other information	​	​	​	​	December 26, 2023	​	​	December 27, 2022	​
Cash paid for amounts included in measurement of operating lease liabilities	​	​	​	$	68,755	​	$	63,269	​
Right-of-use assets obtained in exchange for new operating lease liabilities	​	​	​	$	83,310	​	$	54,666	​
Weighted-average remaining lease term (years)	​	​	​	​	17.71	​	​	17.57	​
Weighted-average discount rate	​	​	​	​	6.49	%	​	6.34	%

​

Operating lease payments exclude $39.2 million of future minimum lease payments for executed real estate leases of which we have not yet taken possession. In addition to the above operating leases, as of December 26, 2023, we had two finance leases with a right-of-use asset balance and lease liability balance of $2.0 million and $2.8 million, respectively. As of December 27, 2022, we had two finance leases with a right-of-use asset balance and lease liability balance of $2.1 million and $2.7 million, respectively. The right-of-use asset balance is included as a component of other assets and the lease liability balance as a component of other liabilities in the consolidated balance sheets.

In 2023, we entered into six sale leaseback transactions that generated proceeds of $16.3 million and no gain or loss was recognized on the transactions. In 2022, we entered into four sale leaseback that generated proceeds of $12.9 million and no gain or loss was recognized on the transactions. The resulting operating leases are included in the operating lease right-of-use assets and lease liabilities noted above.

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- References

No definition available.

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//842-20/tableOfContent

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