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LEASES (Tables) | 12 Months Ended
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Dec. 25, 2022
Leases [Abstract] |
Components of Lease Expense | The following table presents components of lease expense (in thousands). Operating lease cost, finance lease amortization and finance lease interest are respectively included in Cost of sales, SG&A expense and Interest expense, net of capitalized interest in the Consolidated Statements of Income.
| For the Year Ended
| December 25, 2022 |  | December 26, 2021
Operating lease cost(a) | $ | 98,353 |  |  | $ | 93,024 |
Amortization of finance lease assets | 472 |  |  | 745 |
Interest on finance leases | 132 |  |  | 128 |
Short-term lease cost | 77,100 |  |  | 63,588 |
Variable lease cost | 4,102 |  |  | 4,490 |
Net lease cost | $ | 180,159 |  |  | $ | 161,975 |
(a)Sublease income is immaterial and not included in operating lease costs. Supplemental cash flow information related to leases is as follows (in thousands):
| Year Ended
| December 25, 2022 |  | December 26, 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows - operating leases | $ | 69,349 |  |  | $ | 77,113 |
Operating cash flows - finance leases | 132 |  |  | 124 |
Financing cash flows - finance leases | 924 |  |  | 76 |
Operating lease assets obtained in exchange for operating lease liabilities | $ | 56,988 |  |  | $ | 144,028 |
Finance lease assets obtained in exchange for finance lease liabilities | — |  |  | 3,527 |
Balance Sheet Information Related to Leases | The weighted-average remaining lease term and discount rate for lease liabilities included in our Consolidated Balance Sheets are as follows:
| December 25, 2022 |  | December 26, 2021
Weighted-average remaining lease term (years): |  |  |
Operating leases | 5.80 |  | 6.07
Finance leases | 4.52 |  | 5.32
Weighted-average discount rate: |  |  |
Operating leases | 4.00% |  | 3.92%
Finance leases | 3.19% |  | 3.32%
Lease liabilities are included in our Consolidated Balance Sheets as follows (in thousands):
| December 25, 2022 |  | December 26, 2021
| Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Accrued expenses and other current liabilities | $ | 79,222 |  |  | $ | — |  |  | $ | 82,947 |  |  | $ | — |
Current maturities of long-term debt | — |  |  | 966 |  |  | — |  |  | 930 |
Noncurrent operating lease liability, less current maturities | 230,701 |  |  | — |  |  | 271,366 |  |  | — |
Long-term debt, less current maturities | — |  |  | 2,658 |  |  | — |  |  | 3,618 |
Total lease liabilities | $ | 309,923 |  |  | $ | 3,624 |  |  | $ | 354,313 |  |  | $ | 4,548 |
Maturities of Finance Lease Liability | Future minimum lease payments under noncancelable leases as of December 25, 2022 are as follows (in thousands):
| Operating Leases |  | Finance Leases
For the fiscal years ending December: |  |  |
2023 | $ | 90,356 |  |  | $ | 1,064 |
2024 | 67,082 |  |  | 908 |
2025 | 55,911 |  |  | 563 |
2026 | 41,955 |  |  | 553 |
2027 | 29,697 |  |  | 526 |
Thereafter | 60,182 |  |  | 253 |
Total future minimum lease payments | 345,183 |  |  | 3,867 |
Less: imputed interest | (35,260) |  |  | (243) |
Present value of lease liabilities | $ | 309,923 |  |  | $ | 3,624 |
Maturities of Operating Lease Liability | Future minimum lease payments under noncancelable leases as of December 25, 2022 are as follows (in thousands):
| Operating Leases |  | Finance Leases
For the fiscal years ending December: |  |  |
2023 | $ | 90,356 |  |  | $ | 1,064 |
2024 | 67,082 |  |  | 908 |
2025 | 55,911 |  |  | 563 |
2026 | 41,955 |  |  | 553 |
2027 | 29,697 |  |  | 526 |
Thereafter | 60,182 |  |  | 253 |
Total future minimum lease payments | 345,183 |  |  | 3,867 |
Less: imputed interest | (35,260) |  |  | (243) |
Present value of lease liabilities | $ | 309,923 |  |  | $ | 3,624 |

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