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Leases (Tables)

3 Months Ended

Mar. 29, 2025

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information

The following table presents the assets and liabilities related to the Company’s leases as of March 29, 2025 and December 28, 2024:

						As of
Lease Assets and Liabilities						March 29, 2025						December 28, 2024
						(In thousands)
Assets			Classification
Operating lease right-of-use assets			Operating lease right-of-use assets			$	45,115					$	47,221
Finance lease right-of-use assets (1)			Property and equipment, net			160,738						134,319
Total lease right-of-use assets						$	205,853					$	181,540
Liabilities
Current portion:
Operating lease liabilities			Operating lease liabilities - current			$	7,863					$	8,478
Finance lease liabilities			Finance lease liabilities - current			15,503						12,541
Non-current portion:
Operating lease liabilities			Operating lease liabilities - noncurrent			38,718						40,114
Finance lease liabilities			Finance lease liabilities - noncurrent			301,252						280,002
Total lease liabilities						$	363,336					$	341,135

(1) Finance lease right-of-use assets are presented net of accumulated amortization of $103.7 million and $112.3 million as of March 29, 2025 and December 28, 2024, respectively.

Supplemental balance sheet information related to leases is as follows:

			As of
Balance Sheet Information			March 29, 2025						December 28, 2024
			($ in thousands)
Finance leases
Property and equipment			$	264,389					$	246,635
Accumulated depreciation			(103,651)						(112,316)
Property and equipment, net			$	160,738					$	134,319
Weighted Average Remaining Lease Term (in years)
Operating leases			8.32						8.34
Finance leases			16.65						17.68
Weighted Average Discount Rate
Operating leases			8.19		%				8.15		%
Finance leases			8.74		%				8.88		%

The major categories of the Company’s obligations under finance leases as of March 29, 2025 and December 28, 2024 were as follows:

			As of
			March 29, 2025						December 28, 2024
Category:			(In thousands)
Equipment and vehicles			$	74,365					$	49,785
Real estate(1)			242,390						242,758
Total finance leases			$	316,755					$	292,543

(1)Amounts include $125.1 million and $125.1 million as of March 29, 2025 and December 28, 2024, respectively, for sale-leasebacks of real estate in fiscal 2019 and fiscal 2020 that did not qualify for sale treatment for accounting purposes.

Schedule of Lease Cost

The components of lease expense were as follows:

			Three Fiscal Months Ended
Components of lease expense			March 29, 2025						March 30, 2024
			(In thousands)
Operating lease expense:
Operating lease expense before sublease income			$	3,040					$	2,446
Sublease income			(928)						(861)
Operating lease expense			$	2,112					$	1,585
Finance lease expense:
Amortization of right-of-use assets			$	4,624					$	4,736
Interest on lease liabilities			6,873						6,291
Total finance lease expense			$	11,497					$	11,027

Supplemental cash flow information related to leases is as follows:

			Three Fiscal Months Ended
			March 29, 2025						March 30, 2024
			(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows, operating leases			$	2,933					$	2,509
Operating cash flows, finance leases			$	6,873					$	6,291
Financing cash flows, finance leases			$	4,269					$	3,072

Non-cash supplemental cash flow information related to leases is as follows:

			Three Fiscal Months Ended
Non-cash information			March 29, 2025						March 30, 2024
			(In thousands)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases			$	—					$	—
Finance leases			$	28,086					$	8,177

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 March 29, 2025. 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 Leases						Finance Leases
			(In thousands)
2025 (remainder of fiscal year)			$	8,442					$	31,907
2026			8,709						46,012
2027			7,781						40,423
2028			7,493						40,638
2029			6,522						37,388
Thereafter			26,764						482,669
Total lease payments			$	65,711					$	679,037
Less: imputed interest			(19,130)						(362,282)
Total			$	46,581					$	316,755

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 March 29, 2025. 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 Leases						Finance Leases
			(In thousands)
2025 (remainder of fiscal year)			$	8,442					$	31,907
2026			8,709						46,012
2027			7,781						40,423
2028			7,493						40,638
2029			6,522						37,388
Thereafter			26,764						482,669
Total lease payments			$	65,711					$	679,037
Less: imputed interest			(19,130)						(362,282)
Total			$	46,581					$	316,755

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Assets And Liabilities, Lessee [Table Text Block]

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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