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Leases (Tables) | 9 Months Ended
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Sep. 29, 2019
Leases [Abstract] |
Assets and liabilities, lessee | The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheet as of the period indicated:
(dollars in thousands) | CONSOLIDATED BALANCE SHEET CLASSIFICATION |  | SEPTEMBER 29, 2019
Operating lease right-of-use assets | Operating lease right-of-use assets |  | $ | 1,262,449 |
Finance lease right-of-use assets (1) | Property, fixtures and equipment, net |  | 2,419 |
Total lease assets, net |  |  | $ | 1,264,868 |
Current operating lease liabilities (2) | Accrued and other current liabilities |  | $ | 170,849 |
Current finance lease liabilities | Current portion of long-term debt |  | 1,498 |
Non-current operating lease liabilities | Non-current operating lease liabilities |  | 1,273,904 |
Non-current finance lease liabilities | Long-term debt, net |  | 1,204 |
Total lease liabilities |  |  | $ | 1,447,455 |
________________
(1) | Net of accumulated amortization of $1.0 million.
(2) Excludes accrued contingent percentage rent.
Lease, cost | Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive (Loss) Income for the periods indicated:
| CONSOLIDATED INCOME STATEMENT CLASSIFICATION |  | THIRTEEN WEEKS ENDED |  | THIRTY-NINE WEEKS ENDED
(dollars in thousands) |  | SEPTEMBER 29, 2019 |  | SEPTEMBER 29, 2019
Operating leases (1) | Other restaurant operating |  | $ | 45,948 |  |  | $ | 136,260 |
Variable lease cost | Other restaurant operating |  | 933 |  |  | 2,498 |
Finance leases |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 365 |  |  | 1,049 |
Interest on lease liabilities | Interest expense, net |  | 64 |  |  | 209 |
Sublease revenue (2) | Franchise and other revenues |  | (1,747 | ) |  | (4,853 | )
Lease costs, net (3) |  |  | $ | 45,563 |  |  | $ | 135,163 |
________________
(1) | Excludes rent expense for office facilities and Company-owned closed or subleased properties for the thirteen and thirty-nine weeks ended September 29, 2019 of $3.8 million and $11.0 million, respectively, which is included in General and administrative expense and certain supply chain related rent expense of $0.3 million and $0.9 million, respectively, which is included in Cost of sales.
(2) | Excludes rental income from Company-owned properties for the thirteen and thirty-nine weeks ended September 29, 2019 of $0.4 million and $1.8 million, respectively.
(3) During the thirteen and thirty-nine weeks ended September 30, 2018, the Company recorded rent expense of $45.8 million and $138.8 million, respectively, including variable rent expense of $1.1 million and $3.4 million, respectively, and sublease revenue of $1.6 million and $4.7 million, respectively.
Lessee, operating lease, liability, maturity | As of September 29, 2019, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:
(dollars in thousands) | OPERATING LEASES |  | FINANCE LEASES |  | SUBLEASE REVENUES
Year 1 (1) | $ | 178,221 |  |  | $ | 1,558 |  |  | $ | (6,126 | )
Year 2 | 191,533 |  |  | 1,051 |  |  | (6,239 | )
Year 3 | 186,926 |  |  | 331 |  |  | (6,039 | )
Year 4 | 183,602 |  |  | 4 |  |  | (5,980 | )
Year 5 | 177,890 |  |  | 4 |  |  | (5,871 | )
Thereafter | 1,729,022 |  |  | 2 |  |  | (64,988 | )
Total minimum lease payments (receipts) (2) | $ | 2,647,194 |  |  | $ | 2,950 |  |  | $ | (95,243 | )
Less: Interest | (1,202,441 | ) |  | (248 | ) |  |
Present value of future lease payments | $ | 1,444,753 |  |  | $ | 2,702 |  |  |
____________________
(1) | Net of operating lease prepaid rent of $14.7 million.
(2) Includes $1.0 billion related to options to extend operating lease terms and excludes $116.3 million of signed operating leases that have not yet commenced.
Finance lease, liability, maturity | As of September 29, 2019, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:
(dollars in thousands) | OPERATING LEASES |  | FINANCE LEASES |  | SUBLEASE REVENUES
Year 1 (1) | $ | 178,221 |  |  | $ | 1,558 |  |  | $ | (6,126 | )
Year 2 | 191,533 |  |  | 1,051 |  |  | (6,239 | )
Year 3 | 186,926 |  |  | 331 |  |  | (6,039 | )
Year 4 | 183,602 |  |  | 4 |  |  | (5,980 | )
Year 5 | 177,890 |  |  | 4 |  |  | (5,871 | )
Thereafter | 1,729,022 |  |  | 2 |  |  | (64,988 | )
Total minimum lease payments (receipts) (2) | $ | 2,647,194 |  |  | $ | 2,950 |  |  | $ | (95,243 | )
Less: Interest | (1,202,441 | ) |  | (248 | ) |  |
Present value of future lease payments | $ | 1,444,753 |  |  | $ | 2,702 |  |  |
____________________
(1) | Net of operating lease prepaid rent of $14.7 million.
(2) Includes $1.0 billion related to options to extend operating lease terms and excludes $116.3 million of signed operating leases that have not yet commenced.
Lessee, weighted average remaining lease term and weighted average discount rate | The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company’s leases as of the period indicated:
| SEPTEMBER 29, 2019
Weighted-average remaining lease term (1): |
Operating leases | 14.6 years |
Finance leases | 2.1 years |
Weighted-average discount rate (2): |
Operating leases | 8.56 | %
Finance leases | 9.07 | %
____________________
(1) | Includes lease renewal options that are reasonably certain of exercise.
(2) Based on the Company’s incremental borrowing rate at lease commencement.
Cash flow, operating activities, lessee | The following table is a summary of other impacts to the Company’s Consolidated Financial Statements related to its leases for the period indicated:
| THIRTY-NINE WEEKS ENDED
(dollars in thousands) | SEPTEMBER 29, 2019
Cash flows from operating activities: |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 143,630 |
Schedule of property subject to or available for operating leases | The following table is a summary of assets leased to third parties as of the period indicated:
(dollars in thousands) | SEPTEMBER 29, 2019
Land | $ | 10,585 |
Buildings and building improvements | $ | 12,823 |
Less: accumulated depreciation | (6,239 | )
Buildings and building improvements, net | $ | 6,584 |

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- Definition Tabular disclosure of lessor's property under leasing agreements and property available for lease (not currently under lease) by property class, the gross amount, accumulated depreciation and net amount of as of the balance sheet date. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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