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Leases | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Leases | . Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to accounting guidance ASU No. 2016-02, Leases (Topic 842). The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Total lease cost consists of the following:
|  |  |  | 13 Weeks Ended |  |  |  |
Lease Cost |  | Classification |  | March 31, 2022 |  | April 1, 2021 |  |  |  |
Finance lease costs: |  |  |  |  |  |  |  |  |  |
Amortization of finance lease assets |  | Depreciation and amortization |  | $ | 705 |  |  | $ | 712 |  |  |  |  |
Interest on lease liabilities |  | Interest expense |  | 221 |  |  | 250 |  |  |  |  |
|  |  |  | $ | 926 |  |  | $ | 962 |  |  |  |  |
Operating lease costs: |  |  |  |  |  |  |  |  |  |
Operating lease costs |  | Rent expense |  | $ | 6,377 |  |  | $ | 6,321 |  |  |  |  |
Variable lease cost |  | Rent expense |  | (163) |  |  | (15) |  |  |  |  |
Short-term lease cost |  | Rent expense |  | 36 |  |  | 35 |  |  |  |  |
|  |  |  | $ | 6,250 |  |  | $ | 6,341 |  |  |  |  |
Additional information related to leases is as follows:
|  | 13 Weeks Ended |  |  |  |
Other Information |  | March 31, 2022 |  | April 1, 2021 |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Financing cash flows from finance leases |  | $ | 584 |  |  | $ | 630 |  |  |  |  |
Operating cash flows from finance leases |  | 221 |  |  | 250 |  |  |  |  |
Operating cash flows from operating leases |  | 7,124 |  |  | 7,393 |  |  |  |  |
Right of use assets obtained in exchange for new lease obligations: |  |  |  |  |  |  |  |
Finance lease liabilities |  | 72 |  |  | — |  |  |  |  |
Operating lease liabilities |  | 183 |  |  | 1,575 |  |  |  |  |
| March 31, 2022 |  | December 30, 2021
Finance leases: |  |  |
Property and equipment – gross | $ | 75,195 |  |  | $ | 75,124 |
Accumulated depreciation and amortization | (58,901) |  |  | (58,197) |
Property and equipment - net | $ | 16,294 |  |  | $ | 16,927 |
Remaining lease terms and discount rates are as follows:
Lease Term and Discount Rate |  | March 31, 2022 |  | December 30, 2021
Weighted-average remaining lease terms: |  |  |  |
Finance leases |  | 8 years |  | 8 years
Operating leases |  | 13 years |  | 13 years
Weighted-average discount rates: |  |  |  |
Finance leases |  | 4.57 | % |  | 4.58 | %
Operating leases |  | 4.51 | % |  | 4.48 | %
Deferred rent payments of approximately $1,856 for the Company’s operating leases have been included in the total operating lease obligations as of March 31, 2022, of which approximately $735 is included in long-term operating lease obligations.

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- Definition This represents full disclosure of leases. + References No definition available. + Details
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- References No definition available. + Details
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