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Supplemental Balance Sheet Information (Tables)
 9 Months Ended
Sep. 29, 2024
Supplemental Balance Sheet Information [Abstract]  
Schedule of other current assets
Other current assets, net, consisted of the following as of the periods indicated:
(dollars in thousands)SEPTEMBER 29, 2024DECEMBER 31, 2023
Prepaid expenses$30,102 $26,674 
Accounts receivable - gift cards, net7,887 67,424 
Accounts receivable - vendors, net23,466 13,648 
Accounts receivable - franchisees, net3,789 3,671 
Accounts receivable - other, net21,534 18,100 
Deferred gift card sales commissions11,137 18,081 
Other current assets, net7,562 5,404 
$105,477 $153,002 
Schedule of other assets
Other assets, net, consisted of the following as of the periods indicated:
(dollars in thousands)SEPTEMBER 29, 2024DECEMBER 31, 2023
Company-owned life insurance$31,874 $28,018 
Deferred debt issuance costs - revolving credit facility (1)11,310 3,813 
Liquor licenses22,583 23,125 
Judicial deposits (2)64,493 20,485 
Other assets7,352 9,746 
$137,612 $85,187 
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(1)Net of accumulated amortization of $0.1 million and $11.7 million as of September 29, 2024 and December 31, 2023, respectively. During the thirteen weeks ended September 29, 2024, the Company recorded $9.0 million of deferred debt issuance costs in connection with the Third Amended and Restated Credit Agreement, as defined below. See Long-term debt, net below for details regarding the Third Amended and Restated Credit Agreement.
(2)These assets arise from the Company’s Brazilian operations and their realization could take several years. Includes $43.2 million as of September 29, 2024 related to the Brazil tax legislation. See Note 12 - Income Taxes for details regarding the judicial deposits in connection with Brazil tax legislation.
Schedule of accrued and other current liabilities
Accrued and other current liabilities consisted of the following as of the periods indicated:
(dollars in thousands)SEPTEMBER 29, 2024DECEMBER 31, 2023
Accrued payroll and other compensation$72,976 $98,903 
Accrued insurance16,995 19,310 
Other current liabilities127,802 137,601 
$217,773 $255,814 
Schedule of long-term debt, net
Long-term debt, net, consisted of the following as of the periods indicated:
SEPTEMBER 29, 2024DECEMBER 31, 2023
(dollars in thousands)OUTSTANDING BALANCEINTEREST RATEOUTSTANDING BALANCEINTEREST RATE
Senior secured credit facility - revolving credit facility (1)$775,000 6.86 %$— 
Former credit facility - revolving credit facility (1)— 381,000 6.96 %
2025 Notes (2)(3)20,724 5.00 %104,786 5.00 %
2029 Notes300,000 5.13 %300,000 5.13 %
Long-term debt1,095,724 785,786 
Less: unamortized debt discount and issuance costs (2)(3,535)(5,067)
Long-term debt, net$1,092,189 $780,719 
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(1)Interest rate represents the weighted average interest rate as of the respective periods.
(2)During the thirty-nine weeks ended September 29, 2024, the Company repurchased $83.6 million of the 2025 Notes and as a result, wrote off $0.8 million of debt issuance costs. See Note 7 - Convertible Senior Notes for additional details.
(3)Obligations under the 2025 Notes, which mature on May 1, 2025, have been classified as long-term, reflecting the Company’s intent and ability to refinance these notes through its existing revolving credit facility.
Schedule of interest rate options, senior secured credit facility The interest rate spreads are as follows:
BASE RATE ELECTIONADJUSTED TERM SOFR ELECTION
Revolving credit facility
50 to 150 basis points over the Base Rate
150 to 250 basis points over the Adjusted Term SOFR
Schedule of maturities of long-term debt Following is a summary of principal payments of the Company’s total consolidated debt outstanding as of September 29, 2024:
PERIOD
(dollars in thousands)YEAR 1YEAR 2YEAR 3YEAR 4YEAR 5THEREAFTERTOTAL
Debt repayments$20,724 $— $— $— $1,075,000 $— $1,095,724