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LEASES (Tables)
 12 Months Ended
Dec. 30, 2023
Leases [Abstract]  
Lease Cost
The following components of lease expense are included in Selling, general, and administrative expenses on the Company’s consolidated statements of operations for the fiscal periods indicated:
For the fiscal year ended
(dollars in thousands)December 30, 2023December 31, 2022January 1, 2022
Operating lease cost$171,072 $160,210 $166,481 
Variable lease cost(*)
56,089 66,400 64,410 
Net lease cost$227,161 $226,610 $230,891 
(*)Includes short-term leases, which are not material, and any operating lease impairment charges.
Supplemental Information
Supplemental balance sheet information related to leases was as follows:
December 30, 2023December 31, 2022
Weighted average remaining operating lease term (years)5.84.7
Weighted average discount rate for operating leases4.63%3.72%
Lessee, Operating Lease, Liability, Maturity
As of December 30, 2023, the maturities of lease liabilities were as follows:
(dollars in thousands)Operating leases
2024$151,446 
2025140,412 
2026103,389 
202775,562 
202855,867 
After 2028155,003 
Total lease payments$681,679 
Less: Interest(97,500)
Present value of lease liabilities(*)
$584,179 
(*)As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments.