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LEASES (Tables) | 9 Months Ended
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Oct. 01, 2023
Leases [Abstract] |
Schedule of lease cost | The weighted average remaining lease term and discount rate were as follows as of the period indicated:
| October 1, 2023 |  | December 25, 2022
Weighted average remaining lease term (years) | 8.3 |  | 8.4
Weighted average discount rate | 5.98 | % |  | 5.51 | %
The components of lease cost were as follows for the periods indicated:
|  | Twelve Weeks Ended |  | Forty Weeks Ended
($ in thousands) | Classification | October 1, 2023 |  | October 2, 2022 |  | October 1, 2023 |  | October 2, 2022
Operating lease cost | Occupancy, General and administrative expenses | $ | 10,372 |  |  | $ | 9,795 |  |  | $ | 33,384 |  |  | $ | 32,885 |
Pre-opening lease cost | Pre-opening costs | 1,134 |  |  | 1,186 |  |  | 3,436 |  |  | 2,721 |
Closed store lease cost | Restructuring and other costs | 112 |  |  | 95 |  |  | 489 |  |  | 723 |
Short-term lease costs | General and administrative expenses | 74 |  |  | 108 |  |  | 292 |  |  | 343 |
Variable lease cost | Occupancy | 336 |  |  | 70 |  |  | 1,158 |  |  | 163 |
Sublease income | Other income | (138) |  |  | (137) |  |  | (444) |  |  | (464) |
Total lease cost | $ | 11,890 |  |  | $ | 11,117 |  |  | $ | 38,315 |  |  | $ | 36,371 |
Supplemental cash flow information related to leases | Supplemental disclosures of cash flow information related to leases were as follows for periods indicated:
| Twelve Weeks Ended |  | Forty Weeks Ended
($ in thousands) | October 1, 2023 |  | October 2, 2022 |  | October 1, 2023 |  | October 2, 2022
Cash paid for operating lease liabilities | $ | 12,067 |  |  | $ | 7,983 |  |  | $ | 35,220 |  |  | $ | 34,715 |
Operating lease assets obtained in exchange for operating lease liabilities (1) | 8,457 |  |  | 8,047 |  |  | 42,341 |  |  | 313,806 |
Derecognition of operating lease assets due to termination or impairment | 236 |  |  | 2,991 |  |  | 3,022 |  |  | 7,654 |
(1) Amount presented for the forty weeks ended October 2, 2022 includes a $256.9 million transition adjustment for the adoption of ASC 842.
Maturities of lease liabilities | Future minimum lease payments by fiscal year for operating leases consisted of the following as of October 1, 2023:
($ in thousands) | Operating leases
2023 (remainder) | $ | 9,387 |
2024 | 55,481 |
2025 | 56,135 |
2026 | 55,117 |
2027 | 52,784 |
Thereafter | 214,252 |
Total | 443,156 |
Less: imputed interest | 100,797 |
Operating lease liabilities (current and non-current) | $ | 342,359 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
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