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Gift Cards | 12 Months Ended
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Dec. 28, 2021
Gift Cards |
Gift Cards | 10. Gift Cards The following tables present information related to gift cards (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal year ended
​ |  | December 28, 2021 |  | December 29, 2020
Gift card liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 184,655 |  | $ | 187,978
Activations | ​ |  | 144,892 | ​ |  | 110,670
Redemptions and breakage | ​ |  | (118,365) | ​ |  | (113,993)
Ending balance | ​ | $ | 211,182 |  | $ | 184,655
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal year ended
​ |  | December 28, 2021 |  | December 29, 2020
Gift card contract assets: (1) | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 17,955 |  | $ | 23,172
Deferrals | ​ |  | 15,852 | ​ |  | 12,348
Amortization | ​ |  | (15,339) | ​ |  | (17,565)
Ending balance | ​ | $ | 18,468 |  | $ | 17,955
| (1) | Included in prepaid expenses on the consolidated balance sheets.
​ The significant increases in activations, redemptions and breakage during fiscal 2021 compared to fiscal 2020 stem from the impact of the COVID-19 pandemic on our business in the prior year.

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