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Leases (Tables)
 9 Months Ended
Sep. 28, 2024
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information
The following table presents the assets and liabilities related to the Company’s leases as of September 28, 2024 and December 30, 2023:
Lease Assets and LiabilitiesSeptember 28, 2024December 30, 2023
(In thousands)
AssetsClassification
Operating lease right-of-use assetsOperating lease right-of-use assets$45,647 $37,227 
Finance lease right-of-use assets (1)
Property and equipment, net136,958 138,357 
Total lease right-of-use assets$182,605 $175,584 
Liabilities
Current portion:
Operating lease liabilitiesOperating lease liabilities - current$8,276 $6,284 
Finance lease liabilitiesFinance lease liabilities - current12,547 11,178 
Non-current portion:
Operating lease liabilitiesOperating lease liabilities - noncurrent38,752 32,519 
Finance lease liabilitiesFinance lease liabilities - noncurrent281,263 274,248 
Total lease liabilities$340,838 $324,229 
(1) Finance lease right-of-use assets are presented net of accumulated amortization of $111.4 million and $102.9 million as of September 28, 2024 and December 30, 2023, respectively.
Supplemental balance sheet information related to leases is as follows:
Balance Sheet InformationSeptember 28, 2024December 30, 2023
($ in thousands)
Finance leases
   Property and equipment$248,322 $241,276 
   Accumulated depreciation(111,364)(102,919)
Property and equipment, net$136,958 $138,357 
Weighted Average Remaining Lease Term (in years)
   Operating leases8.448.88
   Finance leases17.8719.94
Weighted Average Discount Rate
   Operating leases8.18 %8.74 %
   Finance leases8.80 %8.84 %
The major categories of the Company’s obligations under finance leases as of September 28, 2024 and December 30, 2023 are as follows:
CategorySeptember 28, 2024December 30, 2023
(In thousands)
Equipment and vehicles$50,752 $42,252 
Real estate(1)
243,058 243,174 
Total finance leases$293,810 $285,426 
(1)Amounts include $125.1 million and $125.0 million as of September 28, 2024 and December 30, 2023, respectively, for sale-leasebacks of real estate in fiscal 2019 and 2020 that did not qualify for sale treatment for accounting purposes.
Schedule of Lease Cost
The components of lease expense were as follows:
Three Months EndedNine Months Ended
Components of lease expenseSeptember 28, 2024September 30, 2023September 28, 2024September 30, 2023
(In thousands)
Operating lease expense:
Operating lease expense before sublease income$2,886 $2,755 $7,965 $8,789 
Sublease income(900)(1,062)(2,648)(2,475)
Operating lease expense$1,986 $1,693 $5,317 $6,314 
Finance lease expense:
   Amortization of right-of-use assets$4,716 $5,408 $14,478 $12,190 
   Interest on lease liabilities6,407 6,077 19,108 18,158 
Total finance lease expense$11,123 $11,485 $33,586 $30,348 

Supplemental cash flow information related to leases is as follows:
Three Months EndedNine Months Ended
Cash flow informationSeptember 28, 2024September 30, 2023September 28, 2024September 30, 2023
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows, operating leases$2,930 $2,367 $8,132 $8,958 
   Operating cash flows, finance leases$6,407 $6,077 $19,108 $18,158 
   Financing cash flows, finance leases$3,255 $2,393 $9,666 $6,659 
Non-cash supplemental cash flow information related to leases is as follows:
Three Months EndedNine Months Ended
Non-cash informationSeptember 28, 2024September 30, 2023September 28, 2024September 30, 2023
(In thousands)
Right-of-use assets obtained in exchange for lease obligations
Operating leases$3,183 $— $14,515 $— 
Finance leases$5,560 $7,877 $16,710 $11,277 
Schedule of Operating Lease Maturities
Below is a summary of undiscounted finance and operating lease liabilities that have initial terms in excess of one year as of September 28, 2024. The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the unaudited condensed consolidated balance sheet, including options to extend lease terms that are reasonably certain of being exercised.
Fiscal Year:Operating LeasesFinance Leases
(In thousands)
2024$2,932 $9,999 
202511,074 37,057 
20268,089 40,487 
20277,138 34,900 
20286,885 35,093 
Thereafter30,713 504,048 
Total lease payments$66,831 $661,584 
Less: imputed interest(19,803)(367,774)
Total$47,028 $293,810 
Schedule of Finance Lease Maturities
Below is a summary of undiscounted finance and operating lease liabilities that have initial terms in excess of one year as of September 28, 2024. The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the unaudited condensed consolidated balance sheet, including options to extend lease terms that are reasonably certain of being exercised.
Fiscal Year:Operating LeasesFinance Leases
(In thousands)
2024$2,932 $9,999 
202511,074 37,057 
20268,089 40,487 
20277,138 34,900 
20286,885 35,093 
Thereafter30,713 504,048 
Total lease payments$66,831 $661,584 
Less: imputed interest(19,803)(367,774)
Total$47,028 $293,810