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Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
As of December 31, 2023, maturities of lease liabilities under existing operating leases are:

RestaurantOtherTotal
2024$149,121 $6,162 $155,283 
2025143,698 5,347 149,045 
2026137,788 4,549 142,337 
2027132,948 3,614 136,562 
2028127,169 1,572 128,741 
Thereafter1,001,831 4,380 1,006,211 
Total lease payments$1,692,555 $25,624 $1,718,179 
Lease discount(771,565)
Operating lease liability$946,614 

The following table is a summary of the Company’s components of lease cost for fiscal years 2023, 2022 and 2021:

Lease ExpenseStatements of Income Location202320222021
Operating lease expense - Minimum rentals:
Company-operated restaurantsOccupancy and other operating expenses$(131,613)$(117,723)$(94,254)
Franchised restaurantsFranchised restaurants - occupancy expenses(47,975)(44,656)(29,969)
General and administrativeGeneral and administrative expenses(8,472)(6,746)(6,590)
Subtotal(188,060)(169,125)(130,813)
Variable lease expense - Contingent rentals based on sales:
Company-operated restaurantsOccupancy and other operating expenses(46,861)(36,322)(27,262)
Franchised restaurantsFranchised restaurants - occupancy expenses(15,603)(10,810)(9,505)
Subtotal(62,464)(47,132)(36,767)
Total lease expense$(250,524)$(216,257)$(167,580)


Other information 2023
Weighted-average remaining lease term (years)
Operating leases7
Weighted-average discount rate
Operating leases 6.5%

The Company maintains a few finance leases agreements, previously classified as capital leases. As of December 31, 2023 and 2022 the obligation amounts to $8,498 and $5,032 respectively, included within “Long-term debt” in the Consolidated Balance Sheet.
In addition, in March 2010, the Company entered into an aircraft operating lease agreement for a term of 8 years, which provides for quarterly payments of $690. The agreement includes a purchase option at the end of the lease term at fair market value and also an early purchase option at a fixed amount of $26,685 at maturity of the 24th quarterly payment. On December 22, 2017, the Company signed an amendment, extending the term of the aircraft operating lease for an additional 10 years, with quarterly payments (retroactively effective as of December 5, 2017) of $442. The Company was required to make a cash collateral deposit of $2,500 under this agreement.
Leases Leases
As of December 31, 2023, maturities of lease liabilities under existing operating leases are:

RestaurantOtherTotal
2024$149,121 $6,162 $155,283 
2025143,698 5,347 149,045 
2026137,788 4,549 142,337 
2027132,948 3,614 136,562 
2028127,169 1,572 128,741 
Thereafter1,001,831 4,380 1,006,211 
Total lease payments$1,692,555 $25,624 $1,718,179 
Lease discount(771,565)
Operating lease liability$946,614 

The following table is a summary of the Company’s components of lease cost for fiscal years 2023, 2022 and 2021:

Lease ExpenseStatements of Income Location202320222021
Operating lease expense - Minimum rentals:
Company-operated restaurantsOccupancy and other operating expenses$(131,613)$(117,723)$(94,254)
Franchised restaurantsFranchised restaurants - occupancy expenses(47,975)(44,656)(29,969)
General and administrativeGeneral and administrative expenses(8,472)(6,746)(6,590)
Subtotal(188,060)(169,125)(130,813)
Variable lease expense - Contingent rentals based on sales:
Company-operated restaurantsOccupancy and other operating expenses(46,861)(36,322)(27,262)
Franchised restaurantsFranchised restaurants - occupancy expenses(15,603)(10,810)(9,505)
Subtotal(62,464)(47,132)(36,767)
Total lease expense$(250,524)$(216,257)$(167,580)


Other information 2023
Weighted-average remaining lease term (years)
Operating leases7
Weighted-average discount rate
Operating leases 6.5%

The Company maintains a few finance leases agreements, previously classified as capital leases. As of December 31, 2023 and 2022 the obligation amounts to $8,498 and $5,032 respectively, included within “Long-term debt” in the Consolidated Balance Sheet.
In addition, in March 2010, the Company entered into an aircraft operating lease agreement for a term of 8 years, which provides for quarterly payments of $690. The agreement includes a purchase option at the end of the lease term at fair market value and also an early purchase option at a fixed amount of $26,685 at maturity of the 24th quarterly payment. On December 22, 2017, the Company signed an amendment, extending the term of the aircraft operating lease for an additional 10 years, with quarterly payments (retroactively effective as of December 5, 2017) of $442. The Company was required to make a cash collateral deposit of $2,500 under this agreement.