XML 32 R19.htm IDEA: XBRL DOCUMENT v3.25.1

Leases

3 Months Ended

Mar. 30, 2025

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 SHEETS CLASSIFICATION						MARCH 30, 2025						DECEMBER 29, 2024
Operating lease right-of-use assets			Operating lease right-of-use assets						$	1,031,937					$	1,012,857
Finance lease right-of-use assets (1)			Property, fixtures and equipment, net						12,271						10,058
Total lease assets, net									$	1,044,208					$	1,022,915
Current operating lease liabilities			Current operating lease liabilities						$	161,188					$	158,806
Current finance lease liabilities			Accrued and other current liabilities						3,338						2,618
Non-current operating lease liabilities			Non-current operating lease liabilities						1,095,873						1,088,518
Non-current finance lease liabilities			Other long-term liabilities, net						10,694						8,359
Total lease liabilities									$	1,271,093					$	1,258,301

________________

(1)Net of accumulated amortization of $4.7 million and $4.0 million as of March 30, 2025 and December 29, 2024, respectively.

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the periods indicated:

			CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION												THIRTEEN WEEKS ENDED
(dollars in thousands)																					MARCH 30, 2025						MARCH 31, 2024
Operating lease cost (1)			Other restaurant operating																		$	42,305					$	42,932
Variable lease cost			Other restaurant operating																		1,192						1,054
Finance lease costs:
Amortization of leased assets			Depreciation and amortization																		690						513
Interest on lease liabilities			Interest expense, net																		239						175
Sublease revenue			Franchise and other revenues																		(1,702)						(1,735)
Lease costs, net																					$	42,724					$	42,939

________________

(1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.6 million and $3.4 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, 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:

			THIRTEEN WEEKS ENDED
(dollars in thousands)			MARCH 30, 2025						MARCH 31, 2024
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities			$	47,242					$	47,244

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 SHEETS CLASSIFICATION						MARCH 30, 2025						DECEMBER 29, 2024
Operating lease right-of-use assets			Operating lease right-of-use assets						$	1,031,937					$	1,012,857
Finance lease right-of-use assets (1)			Property, fixtures and equipment, net						12,271						10,058
Total lease assets, net									$	1,044,208					$	1,022,915
Current operating lease liabilities			Current operating lease liabilities						$	161,188					$	158,806
Current finance lease liabilities			Accrued and other current liabilities						3,338						2,618
Non-current operating lease liabilities			Non-current operating lease liabilities						1,095,873						1,088,518
Non-current finance lease liabilities			Other long-term liabilities, net						10,694						8,359
Total lease liabilities									$	1,271,093					$	1,258,301

________________

(1)Net of accumulated amortization of $4.7 million and $4.0 million as of March 30, 2025 and December 29, 2024, respectively.

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the periods indicated:

			CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) CLASSIFICATION												THIRTEEN WEEKS ENDED
(dollars in thousands)																					MARCH 30, 2025						MARCH 31, 2024
Operating lease cost (1)			Other restaurant operating																		$	42,305					$	42,932
Variable lease cost			Other restaurant operating																		1,192						1,054
Finance lease costs:
Amortization of leased assets			Depreciation and amortization																		690						513
Interest on lease liabilities			Interest expense, net																		239						175
Sublease revenue			Franchise and other revenues																		(1,702)						(1,735)
Lease costs, net																					$	42,724					$	42,939

________________

(1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $3.6 million and $3.4 million for the thirteen weeks ended March 30, 2025 and March 31, 2024, 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:

			THIRTEEN WEEKS ENDED
(dollars in thousands)			MARCH 30, 2025						MARCH 31, 2024
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities			$	47,242					$	47,244

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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

Name:	us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration