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Leases | 12 Months Ended
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Dec. 25, 2021
Leases [Abstract] |
Leases | H. Leases The Company has various lease agreements in place for facilities and equipment. Terms of these leases include, in some instances, scheduled rent increases, renewals, purchase options and maintenance costs, and vary by lease. These lease obligations expire at various dates through 2034. As the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate based on information available at le commencement to determine the present value of the lease payments. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease term. T otal right-of-use ("ROU") assets and lease liabilities were as follows:
|  | Classification |  | Leases |
|  |  |  | December 25, 2021 |  |  | December 26, 2020 |
|  |  |  | (in thousands) |
Right-of-use assets |  |  |  |  |  |  |  |
Operating lease assets |  | Operating right-of-use assets |  | $ | 52,774 |  |  | $ | 58,483 |
Finance lease assets |  | Property, plant and equipment, net |  |  | 3,014 |  |  |  | 4,035 |
Lease Liabilities |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |
Operating lease liabilities |  | Current operating lease liabilities |  |  | 7,634 |  |  |  | 8,232 |
Finance lease liabilities |  | Accrued expenses and other current liabilities |  |  | 1,598 |  |  |  | 1,453 |
Non-current |  |  |  |  |  |  |  |
Operating lease liabilities |  | Non-current operating lease liabilities |  |  | 53,849 |  |  |  | 59,171 |
Finance lease liabilities |  | Other liabilities |  |  | 1,459 |  |  |  | 2,631 |
The gross value and accumulated depreciation of ROU assets related to finance leases were as follows:
|  | Finance Leases |
|  | December 25, 2021 |  |  | December 26, 2020 |
|  | (in thousands) |
Gross value |  | $ | 5,998 |  |  | $ | 5,526 |
Accumulated amortization |  |  | (2,984 | ) |  |  | (1,491 | )
Carrying value |  | $ | 3,014 |  |  | $ | 4,035 |
Components of lease cost for the fiscal year-ended are as follows:
|  | Fifty-two weeks ended |
|  | December 25, 2021 |  |  | December 26, 2020 |  |  | December 28, 2019 |
|  | (in thousands) |
Operating lease cost |  | $ | 10,283 |  |  | $ | 9,764 |  |  | $ | 5,625 |
Variable lease costs not included in liability |  |  | 1,132 |  |  |  | 1,643 |  |  |  | 1,064 |
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  |  | 1,493 |  |  | $ | 1,185 |  |  | $ | 306 |
Interest on lease liabilities |  |  | 121 |  |  |  | 143 |  |  |  | 56 |
Total finance lease cost |  | $ | 1,614 |  |  | $ | 1,328 |  |  | $ | 362 |
Maturities of lease liabilities as of December 25, 2021 are as follows:
|  | Operating |  |  | Finance |  |  | Weighted- Average Remaining Term in Years
|  | Leases |  |  | Leases |  |  | Operating Leases |  |  | Finance Leases
|  |  |  |  | (in thousands) |  |  |  |  |  |
2022 |  | $ | 9,633 |  |  | $ | 1,669 |  |  |  |  |  |
2023 |  |  | 10,411 |  |  |  | 959 |  |  |  |  |  |
2024 |  |  | 10,407 |  |  |  | 362 |  |  |  |  |  |
2025 |  |  | 7,102 |  |  |  | 104 |  |  |  |  |  |
2026 |  |  | 6,671 |  |  |  | 56 |  |  |  |  |  |
Thereafter |  |  | 26,907 |  |  |  | 8 |  |  |  |  |  |
Total lease payments |  |  | 71,131 |  |  |  | 3,158 |  |  |  |  |  |
Less imputed interest (based on 3.4% weighted-average discount rate) |  |  | (9,648 | ) |  |  | (101 | ) |  |  |  |  |
Present value of lease liability |  | $ | 61,483 |  |  | $ | 3,057 |  |  |  | 8.0 |  |  | 2.3

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- Definition Lessee operating and finance leases. + References No definition available. + Details
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- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration