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v3.25.4

LEASES | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
LEASES | LEASES
A summary of operating and finance right-of-use assets and lease liabilities were as follows:
| Classification | December 31 2025 |  | December 25 2024
Operating leases | Operating lease assets | $ | 507,253 |  |  | $ | 424,611 |
Finance leases | Property and equipment, net | 15,056 |  |  | 12,225 |
Total right-of-use assets |  | $ | 522,309 |  |  | $ | 436,836 |
Operating leases: |  |  |  |
| Operating lease liabilities, current | $ | 63,553 |  |  | $ | 55,739 |
| Long-term operating lease liabilities | 575,138 |  |  | 494,499 |
Finance leases: |  |  |  |
| Other current liabilities | 5,959 |  |  | 4,086 |
| Other long-term liabilities | 9,745 |  |  | 8,616 |
Total lease liabilities |  | $ | 654,395 |  |  | $ | 562,940 |
The components of lease expense were as follows:
|  | Classification | 2025 |  | 2024 |  | 2023
Operating lease cost | Occupancy and related expenses Pre-opening costs General and administrative expenses | $ | 88,849 |  |  | $ | 77,432 |  |  | $ | 67,781 |
Finance lease cost: |  |  |  |  |  |
| Amortization of right-of-use assets | Depreciation and amortization expense | 5,721 |  |  | 4,181 |  |  | 3,324 |
| Interest on lease liabilities | Interest expense | 920 |  |  | 770 |  |  | 476 |
Variable lease cost | Occupancy and related expenses Pre-opening costs General and administrative expenses | 25,128 |  |  | 21,694 |  |  | 18,305 |
Short-term lease cost | Occupancy and related expenses | 665 |  |  | 840 |  |  | 938 |
Total lease cost |  | $ | 121,283 |  |  | $ | 104,917 |  |  | $ | 90,824 |
As of December 31, 2025, future minimum lease payments for operating and finance leases consisted of the following:
| Operating Leases |  | Finance Leases
2026¹ | $ | 82,229 |  |  | $ | 6,674 |
2027 | 106,097 |  |  | 6,086 |
2028 | 103,001 |  |  | 3,308 |
2029 | 95,959 |  |  | 500 |
2030 | 83,522 |  |  | 284 |
Thereafter | 349,842 |  |  | 96 |
Total minimum payments | 820,650 |  |  | 16,948 |
Less: imputed interest | 199,883 |  |  | 1,245 |
Total lease liabilities | $ | 620,767 |  |  | $ | 15,703 |
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 31, 2025. As of December 31, 2025, the Company had additional operating lease commitments of $222,129 for non-cancelable leases without a possession date, which commence in 2026 or later. The terms of these lease commitments are materially consistent with leases recognized on the Consolidated Balance Sheets. A summary of lease terms and discount rates for operating and finance leases were as follows:
|  | December 31 2025 |  | December 25 2024
Weighted average remaining lease term (years): |  |  |
| Operating leases | 8.6 |  | 8.7
| Finance leases | 2.8 |  | 3.3
Weighted average discount rate: |  |  |
| Operating leases | 6.3 | % |  | 6.2 | %
| Finance leases | 5.8 | % |  | 6.1 | %
Supplemental cash flow information related to leases was as follows:
|  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
| Operating cash flows from operating leases | $ | 100,328 |  |  | $ | 91,783 |  |  | $ | 72,128 |
| Operating cash flows from finance leases | 920 |  |  | 770 |  |  | 476 |
| Financing cash flows from finance leases | 5,511 |  |  | 3,964 |  |  | 3,272 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
| Operating leases | 136,882 |  |  | 84,887 |  |  | 72,403 |
| Finance leases | 9,553 |  |  | 4,792 |  |  | 8,972 |
LEASES | LEASES
A summary of operating and finance right-of-use assets and lease liabilities were as follows:
| Classification | December 31 2025 |  | December 25 2024
Operating leases | Operating lease assets | $ | 507,253 |  |  | $ | 424,611 |
Finance leases | Property and equipment, net | 15,056 |  |  | 12,225 |
Total right-of-use assets |  | $ | 522,309 |  |  | $ | 436,836 |
Operating leases: |  |  |  |
| Operating lease liabilities, current | $ | 63,553 |  |  | $ | 55,739 |
| Long-term operating lease liabilities | 575,138 |  |  | 494,499 |
Finance leases: |  |  |  |
| Other current liabilities | 5,959 |  |  | 4,086 |
| Other long-term liabilities | 9,745 |  |  | 8,616 |
Total lease liabilities |  | $ | 654,395 |  |  | $ | 562,940 |
The components of lease expense were as follows:
|  | Classification | 2025 |  | 2024 |  | 2023
Operating lease cost | Occupancy and related expenses Pre-opening costs General and administrative expenses | $ | 88,849 |  |  | $ | 77,432 |  |  | $ | 67,781 |
Finance lease cost: |  |  |  |  |  |
| Amortization of right-of-use assets | Depreciation and amortization expense | 5,721 |  |  | 4,181 |  |  | 3,324 |
| Interest on lease liabilities | Interest expense | 920 |  |  | 770 |  |  | 476 |
Variable lease cost | Occupancy and related expenses Pre-opening costs General and administrative expenses | 25,128 |  |  | 21,694 |  |  | 18,305 |
Short-term lease cost | Occupancy and related expenses | 665 |  |  | 840 |  |  | 938 |
Total lease cost |  | $ | 121,283 |  |  | $ | 104,917 |  |  | $ | 90,824 |
As of December 31, 2025, future minimum lease payments for operating and finance leases consisted of the following:
| Operating Leases |  | Finance Leases
2026¹ | $ | 82,229 |  |  | $ | 6,674 |
2027 | 106,097 |  |  | 6,086 |
2028 | 103,001 |  |  | 3,308 |
2029 | 95,959 |  |  | 500 |
2030 | 83,522 |  |  | 284 |
Thereafter | 349,842 |  |  | 96 |
Total minimum payments | 820,650 |  |  | 16,948 |
Less: imputed interest | 199,883 |  |  | 1,245 |
Total lease liabilities | $ | 620,767 |  |  | $ | 15,703 |
(1)Operating leases are net of certain tenant allowance receivables that were reclassified to Other current assets as of December 31, 2025. As of December 31, 2025, the Company had additional operating lease commitments of $222,129 for non-cancelable leases without a possession date, which commence in 2026 or later. The terms of these lease commitments are materially consistent with leases recognized on the Consolidated Balance Sheets. A summary of lease terms and discount rates for operating and finance leases were as follows:
|  | December 31 2025 |  | December 25 2024
Weighted average remaining lease term (years): |  |  |
| Operating leases | 8.6 |  | 8.7
| Finance leases | 2.8 |  | 3.3
Weighted average discount rate: |  |  |
| Operating leases | 6.3 | % |  | 6.2 | %
| Finance leases | 5.8 | % |  | 6.1 | %
Supplemental cash flow information related to leases was as follows:
|  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
| Operating cash flows from operating leases | $ | 100,328 |  |  | $ | 91,783 |  |  | $ | 72,128 |
| Operating cash flows from finance leases | 920 |  |  | 770 |  |  | 476 |
| Financing cash flows from finance leases | 5,511 |  |  | 3,964 |  |  | 3,272 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
| Operating leases | 136,882 |  |  | 84,887 |  |  | 72,403 |
| Finance leases | 9,553 |  |  | 4,792 |  |  | 8,972 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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 + Details
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