Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of future minimum rental payments for operating leases

At December 31, 2020, maturities of lease liabilities under existing operating leases are:


	Restaurant		Other		Total (i)
2021	$	122,497	$	5,705	$	128,202
2022	117,025		4,221		121,246
2023	112,715		3,199		115,914
2024	109,398		2,747		112,145
2025	104,984		2,601		107,585
Thereafter	822,563		7,667		830,230
Total lease payments	$	1,389,182	$	26,140	$	1,415,322
Lease discount					(605,881)
Operating lease liability					$	809,441

(i)The Company has certain leases subject to index adjustments. As part of the adoption of ASC 842, the Company used the effective index rate at transition date in its disclosure and calculation of the lease liability. However, for leases entered into after January 1, 2019, the inflation index rate will be used to calculate the lease liability only when a lease modification occurs.

Schedule of components of lease cost

The following table is a summary of the Company´s components of lease cost for fiscal years 2020, 2019 and 2018:


Lease Expense	Statements of Income Location	2020		2019		2018
Operating lease expense - Minimum rentals:
Company-operated restaurants	Occupancy and other operating expenses	$	(69,151)	$	(104,236)	$	(105,358)
Franchised restaurants	Franchised restaurants - occupancy expenses	(23,510)		(34,727)		(30,970)
General and administrative	General and administrative expenses	(7,062)		(7,614)		(7,610)
Subtotal		(99,723)		(146,577)		(143,938)
Variable lease expense - Contingent rentals based on sales:
Company-operated restaurants	Occupancy and other operating expenses	(26,153)		(29,562)		(33,921)
Franchised restaurants	Franchised restaurants - occupancy expenses	(13,248)		(12,878)		(14,595)
Subtotal		(39,401)		(42,440)		(48,516)
Total lease expense		$	(139,124)	$	(189,017)	$	(192,454)


Other information	2020
Weighted-average remaining lease term (years)
Operating leases	8
Weighted-average discount rate
Operating leases	6.6	%