Leases (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of future minimum rental payments for operating leases

At December 31, 2021, maturities of lease liabilities under existing operating leases are:


	Restaurant		Other		Total (i)
2022	$	118,356	$	5,564	$	123,920
2023	113,202		4,469		117,671
2024	109,726		3,820		113,546
2025	106,067		3,381		109,448
2026	101,730		3,055		104,785
Thereafter	781,260		5,598		786,858
Total lease payments	$	1,330,341	$	25,887	$	1,356,228
Lease discount					(569,989)
Operating lease liability					$	786,239

(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 2021, 2020 and 2019:


Lease Expense	Statements of Income Location	2021		2020		2019
Operating lease expense - Minimum rentals:
Company-operated restaurants	Occupancy and other operating expenses	$	(94,254)	$	(69,151)	$	(104,236)
Franchised restaurants	Franchised restaurants - occupancy expenses	(29,969)		(23,510)		(34,727)
General and administrative	General and administrative expenses	(6,590)		(7,062)		(7,614)
Subtotal		(130,813)		(99,723)		(146,577)
Variable lease expense - Contingent rentals based on sales:
Company-operated restaurants	Occupancy and other operating expenses	(27,262)		(26,153)		(29,562)
Franchised restaurants	Franchised restaurants - occupancy expenses	(9,505)		(13,248)		(12,878)
Subtotal		(36,767)		(39,401)		(42,440)
Total lease expense		$	(167,580)	$	(139,124)	$	(189,017)


Other information	2021
Weighted-average remaining lease term (years)
Operating leases	8
Weighted-average discount rate
Operating leases	6.5	%