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Impairment and Exit Costs
 12 Months Ended
Dec. 29, 2024
Impairments and Exit Costs [Abstract]  
Impairments and Exit Costs Impairments and Exit Costs
The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated:
FISCAL YEAR
(dollars in thousands)202420232022
Impairment losses
U.S. (1)$33,947 $39,812 $3,942 
Corporate— — 7 
Other (2)12,488 600 1,537 
Total impairment losses46,435 40,412 5,486 
Restaurant closure charges (benefit)
U.S. (1)14,045 (7,143)478 
Other (2)3,811 305 — 
Total restaurant closure charges (benefit)17,856 (6,838)478 
Provision for impaired assets and restaurant closings$64,291 $33,574 $5,964 
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(1)Primarily includes charges related to the 2023 Restaurant Closures and the Q4 2024 Restaurant Impairment, as discussed below.
(2)Primarily includes charges related to the 2024 closure of nine restaurants in Hong Kong.

2023 Restaurant Closures - During 2023, the Company closed three U.S. and two Hong Kong Aussie Grill restaurants and made the decision to close 36 predominantly older, underperforming U.S. restaurants (the “2023 Restaurant Closures”). Following is a summary of 2023 Restaurant Closures expenses recognized in the Consolidated Statements of Operations and Comprehensive (Loss) Income for the periods indicated (dollars in thousands):
DESCRIPTIONCONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATION FISCAL YEAR
20242023
Asset impairments and closure chargesProvision for impaired assets and restaurant closings$12,034 $34,200 
Severance and other expensesGeneral and administrative3,798 622 
Closure-related labor costsLabor and other related434 — 
Lease remeasurement gainsOther restaurant operating— (2,450)
Total$16,266 $32,372 
During 2023, the Company recognized a lease termination gain of $6.7 million, net of related asset impairments, in connection with the closure of one U.S. restaurant.

Q4 2024 Restaurant Impairment - During the thirteen weeks ended December 29, 2024, the Company recorded asset impairment charges of $25.5 million primarily related to 41 older, underperforming U.S. restaurants based on an assessment of each restaurant’s historical operating performance and trends, combined with updated expected cash flow projections over the respective remaining lease term (the “Q4 2024 Restaurant Impairment”). The projections considered, among other factors, continued challenging operating and macroeconomic conditions since these restaurants tend to underperform Company-wide averages for sales and operating income.

The remaining impairment and closure charges during the periods presented resulted primarily from locations identified for closure, including the closure of all Company-owned U.S. Aussie Grill restaurants.