XML 55 R23.htm IDEA: XBRL DOCUMENT
v3.25.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | Leases As of December 31, 2024, maturities of lease liabilities under existing operating leases are:
|  | Restaurant |  | Other |  | Total
2025 |  | $ | 143,038 |  |  | $ | 6,543 |  |  | $ | 149,581 |
2026 |  | 137,148 |  |  | 5,924 |  |  | 143,072 |
2027 |  | 132,523 |  |  | 4,851 |  |  | 137,374 |
2028 |  | 128,448 |  |  | 2,221 |  |  | 130,669 |
2029 |  | 123,296 |  |  | 1,289 |  |  | 124,585 |
Thereafter |  | 1,183,069 |  |  | 6,619 |  |  | 1,189,688 |
Total lease payments |  | $ | 1,847,522 |  |  | $ | 27,447 |  |  | $ | 1,874,969 |
Lease discount |  |  |  |  |  | (933,531) |
Operating lease liability |  |  |  |  |  | $ | 941,438 |
The following table is a summary of the Company’s components of lease cost for fiscal years 2024, 2023 and 2022:
Lease Expense | Statements of Income Location |  | 2024 |  | 2023 | 2022
Operating lease expense - Minimum rentals: |  |  |  |  |
Company-operated restaurants |  | Occupancy and other operating expenses |  | $ | (139,265) |  |  | $ | (131,613) |  | $ | (117,723) |
Franchised restaurants |  | Franchised restaurants - occupancy expenses |  | (47,096) |  |  | (47,975) |  | (44,656) |
General and administrative |  | General and administrative expenses |  | (8,824) |  |  | (8,472) |  | (6,746) |
Subtotal |  |  |  | (195,185) |  |  | (188,060) |  | (169,125) |
Variable lease expense - Contingent rentals based on sales: |  |  |  |  |
Company-operated restaurants |  | Occupancy and other operating expenses |  | (44,676) |  |  | (46,861) |  | (36,322) |
Franchised restaurants |  | Franchised restaurants - occupancy expenses |  | (17,117) |  |  | (15,603) |  | (10,810) |
Subtotal |  |  |  | (61,793) |  |  | (62,464) |  | (47,132) |
Total lease expense |  |  | $ | (256,978) |  |  | $ | (250,524) |  | $ | (216,257) |
Other information |  |  | 2024
Weighted-average remaining lease term (years) |  |
Operating leases |  |  |  | 9
Weighted-average discount rate |  |
Operating leases |  |  |  | 6.5%
Supplemental cash flow information related to leases was as follows:
|  |  |  | 2024 |  | 2023 |  | 2022
Cash paid for the amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases | $ | 152,267 |  |  | $ | 146,816 |  |  | $ | 132,452 |
Financing cash flows from finance leases |  | 1,269 |  |  | 1,031 |  |  | 816 |
Lease right-of-use asset obtained in exchange for lease obligations: |  |
Operating leases |  |  |  | $ | 197,477 |  |  | $ | 135,893 |  |  | $ | 91,350 |
Finance leases |  |  |  | 3,075 |  |  | 4,022 |  |  | — |
The Company maintains a few finance leases agreements, previously classified as capital leases. As of December 31, 2024 and 2023 the obligation amounts to $9,087 and $8,498 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 24 th 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, 2024, maturities of lease liabilities under existing operating leases are:
|  | Restaurant |  | Other |  | Total
2025 |  | $ | 143,038 |  |  | $ | 6,543 |  |  | $ | 149,581 |
2026 |  | 137,148 |  |  | 5,924 |  |  | 143,072 |
2027 |  | 132,523 |  |  | 4,851 |  |  | 137,374 |
2028 |  | 128,448 |  |  | 2,221 |  |  | 130,669 |
2029 |  | 123,296 |  |  | 1,289 |  |  | 124,585 |
Thereafter |  | 1,183,069 |  |  | 6,619 |  |  | 1,189,688 |
Total lease payments |  | $ | 1,847,522 |  |  | $ | 27,447 |  |  | $ | 1,874,969 |
Lease discount |  |  |  |  |  | (933,531) |
Operating lease liability |  |  |  |  |  | $ | 941,438 |
The following table is a summary of the Company’s components of lease cost for fiscal years 2024, 2023 and 2022:
Lease Expense | Statements of Income Location |  | 2024 |  | 2023 | 2022
Operating lease expense - Minimum rentals: |  |  |  |  |
Company-operated restaurants |  | Occupancy and other operating expenses |  | $ | (139,265) |  |  | $ | (131,613) |  | $ | (117,723) |
Franchised restaurants |  | Franchised restaurants - occupancy expenses |  | (47,096) |  |  | (47,975) |  | (44,656) |
General and administrative |  | General and administrative expenses |  | (8,824) |  |  | (8,472) |  | (6,746) |
Subtotal |  |  |  | (195,185) |  |  | (188,060) |  | (169,125) |
Variable lease expense - Contingent rentals based on sales: |  |  |  |  |
Company-operated restaurants |  | Occupancy and other operating expenses |  | (44,676) |  |  | (46,861) |  | (36,322) |
Franchised restaurants |  | Franchised restaurants - occupancy expenses |  | (17,117) |  |  | (15,603) |  | (10,810) |
Subtotal |  |  |  | (61,793) |  |  | (62,464) |  | (47,132) |
Total lease expense |  |  | $ | (256,978) |  |  | $ | (250,524) |  | $ | (216,257) |
Other information |  |  | 2024
Weighted-average remaining lease term (years) |  |
Operating leases |  |  |  | 9
Weighted-average discount rate |  |
Operating leases |  |  |  | 6.5%
Supplemental cash flow information related to leases was as follows:
|  |  |  | 2024 |  | 2023 |  | 2022
Cash paid for the amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases | $ | 152,267 |  |  | $ | 146,816 |  |  | $ | 132,452 |
Financing cash flows from finance leases |  | 1,269 |  |  | 1,031 |  |  | 816 |
Lease right-of-use asset obtained in exchange for lease obligations: |  |
Operating leases |  |  |  | $ | 197,477 |  |  | $ | 135,893 |  |  | $ | 91,350 |
Finance leases |  |  |  | 3,075 |  |  | 4,022 |  |  | — |
The Company maintains a few finance leases agreements, previously classified as capital leases. As of December 31, 2024 and 2023 the obligation amounts to $9,087 and $8,498 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 24 th 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.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration