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Leases | 9 Months Ended
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Sep. 29, 2024
Leases [Abstract] |
Leases | Leases The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:
(dollars in thousands) | CONSOLIDATED BALANCE SHEET CLASSIFICATION |  | SEPTEMBER 29, 2024 |  | DECEMBER 31, 2023
Operating lease right-of-use assets | Operating lease right-of-use assets |  | $ | 1,081,498 |  |  | $ | 1,084,951 |
Finance lease right-of-use assets (1) | Property, fixtures and equipment, net |  | 8,733 |  |  | 9,941 |
Total lease assets, net |  |  | $ | 1,090,231 |  |  | $ | 1,094,892 |
Current operating lease liabilities | Current operating lease liabilities |  | $ | 169,407 |  |  | $ | 175,442 |
Current finance lease liabilities | Accrued and other current liabilities |  | 2,481 |  |  | 3,197 |
Non-current operating lease liabilities | Non-current operating lease liabilities |  | 1,141,936 |  |  | 1,131,639 |
Non-current finance lease liabilities | Other long-term liabilities, net |  | 7,127 |  |  | 7,414 |
Total lease liabilities |  |  | $ | 1,320,951 |  |  | $ | 1,317,692 |
________________ (1)Net of accumulated amortization of $5.3 million and $4.7 million as of September 29, 2024 and December 31, 2023, respectively. 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 STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATION |  | THIRTEEN WEEKS ENDED |  | THIRTY-NINE WEEKS ENDED
(dollars in thousands) |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023 |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Operating lease cost (1) | Other restaurant operating |  | $ | 44,622 |  |  | $ | 46,686 |  |  | $ | 135,557 |  |  | $ | 138,670 |
Variable lease cost | Other restaurant operating |  | 2,085 |  |  | 2,081 |  |  | 6,867 |  |  | 5,434 |
Finance lease costs: |  |  |  |  |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 732 |  |  | 572 |  |  | 2,299 |  |  | 1,609 |
Interest on lease liabilities | Interest expense, net |  | 191 |  |  | 191 |  |  | 581 |  |  | 501 |
Sublease revenue | Franchise and other revenues |  | (1,833) |  |  | (2,530) |  |  | (5,426) |  |  | (5,873) |
Lease costs, net |  |  | $ | 45,797 |  |  | $ | 47,000 |  |  | $ | 139,878 |  |  | $ | 140,341 |
________________ (1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.7 million and $3.1 million for the thirteen weeks ended September 29, 2024 and September 24, 2023, respectively, and $10.9 million and $9.1 million for the thirty-nine weeks ended September 29, 2024 and September 24, 2023, respectively, which is included in General and administrative expense. The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:
| THIRTY-NINE WEEKS ENDED
(dollars in thousands) | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Cash flows from operating activities: |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 147,845 |  |  | $ | 147,051 |
Leases | Leases The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:
(dollars in thousands) | CONSOLIDATED BALANCE SHEET CLASSIFICATION |  | SEPTEMBER 29, 2024 |  | DECEMBER 31, 2023
Operating lease right-of-use assets | Operating lease right-of-use assets |  | $ | 1,081,498 |  |  | $ | 1,084,951 |
Finance lease right-of-use assets (1) | Property, fixtures and equipment, net |  | 8,733 |  |  | 9,941 |
Total lease assets, net |  |  | $ | 1,090,231 |  |  | $ | 1,094,892 |
Current operating lease liabilities | Current operating lease liabilities |  | $ | 169,407 |  |  | $ | 175,442 |
Current finance lease liabilities | Accrued and other current liabilities |  | 2,481 |  |  | 3,197 |
Non-current operating lease liabilities | Non-current operating lease liabilities |  | 1,141,936 |  |  | 1,131,639 |
Non-current finance lease liabilities | Other long-term liabilities, net |  | 7,127 |  |  | 7,414 |
Total lease liabilities |  |  | $ | 1,320,951 |  |  | $ | 1,317,692 |
________________ (1)Net of accumulated amortization of $5.3 million and $4.7 million as of September 29, 2024 and December 31, 2023, respectively. 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 STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATION |  | THIRTEEN WEEKS ENDED |  | THIRTY-NINE WEEKS ENDED
(dollars in thousands) |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023 |  | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Operating lease cost (1) | Other restaurant operating |  | $ | 44,622 |  |  | $ | 46,686 |  |  | $ | 135,557 |  |  | $ | 138,670 |
Variable lease cost | Other restaurant operating |  | 2,085 |  |  | 2,081 |  |  | 6,867 |  |  | 5,434 |
Finance lease costs: |  |  |  |  |  |  |  |  |
Amortization of leased assets | Depreciation and amortization |  | 732 |  |  | 572 |  |  | 2,299 |  |  | 1,609 |
Interest on lease liabilities | Interest expense, net |  | 191 |  |  | 191 |  |  | 581 |  |  | 501 |
Sublease revenue | Franchise and other revenues |  | (1,833) |  |  | (2,530) |  |  | (5,426) |  |  | (5,873) |
Lease costs, net |  |  | $ | 45,797 |  |  | $ | 47,000 |  |  | $ | 139,878 |  |  | $ | 140,341 |
________________ (1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.7 million and $3.1 million for the thirteen weeks ended September 29, 2024 and September 24, 2023, respectively, and $10.9 million and $9.1 million for the thirty-nine weeks ended September 29, 2024 and September 24, 2023, respectively, which is included in General and administrative expense. The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:
| THIRTY-NINE WEEKS ENDED
(dollars in thousands) | SEPTEMBER 29, 2024 |  | SEPTEMBER 24, 2023
Cash flows from operating activities: |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 147,845 |  |  | $ | 147,051 |

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- 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
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