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Leases (Tables)

6 Months Ended

Jun. 29, 2024

The components of lease cost for finance leases and operating leases for the

twenty-six

weeks ended June 29, 2024 were (in thousands):


Finance leases:
Amortization of right-of-use assets	$	8,345
Interest on lease liability		1,104

Total finance lease cost		9,449
Operating leases:
Lease cost		1,984
Variable lease cost		—
Sublease income		(2,791	)

Total net operating lease income		(807	)

Total net lease cost	$	8,642

Schedule Of Supplemental Balance Sheet Information Related To Leases

A summary of the lease classification on the Company’s consolidated balance sheet as of June 29, 2024 is as follows (in thousands):

Assets:



Operating lease right-of-use assets	Other assets	$	1,252
Finance lease assets	Operating property, less accumulated depreciation and amortization		108,739

Total lease assets		$	109,991

Finance And Operating Lease Maturity

The following table reconciles the undiscounted cash flows for the finance and operating leases to the finance and operating lease liabilities recorded on the balance sheet at June 29, 2024 (in thousands):


	Finance Leases		Operating Leases

2024 Remainder	$	16,149	$	405
2025		27,346		517
2026		19,445		212
2027		9,057		174
2028		4,956		49
Thereafter		1,836		—

Total future minimum lease payments		78,789		1,357
Less amount representing interest (1.6% to 6.5%)		5,412		105

Present value of minimum lease payments	$	73,377	$	1,252

Current maturities of long-term debt		27,980
Long-term debt, excluding current maturities		45,397
Other current liabilities				719
Deferred income taxes and other noncurrent liabilities				533

Schedule Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets

The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of June 29, 2024 were:


	Finance Leases			Operating Leases
Weighted average remaining lease term (years)		3.1			2.5
Weighted average discount rate		4.0	%		6.5	%