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Leases | 12 Months Ended
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Dec. 26, 2024
Leases [Abstract] |
Leases | 7. 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 ASC 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 exercise of lease renewal options is done at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and related right-of-use asset and lease liability. The depreciable life of the asset is limited to the expected term. The Company’s lease agreements do not contain any residual value guarantees or any restrictions or covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in the lease in determining the present value of lease payments. When the lease does not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the fixed rate the Company could borrow for a similar amount, over a similar lease term with similar collateral. The Company recognizes right-of-use assets for all assets subject to operating leases in an amount equal to the operating lease liabilities, adjusted for the balances of long-term prepaid rent, favorable lease intangible assets, deferred lease expense, unfavorable lease liabilities and deferred lease incentive liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. 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:
Lease Cost |  | Classification |  | Fiscal 2024 |  | Fiscal 2023 |  | Fiscal 2022
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of finance lease assets |  | Depreciation and amortization |  | $ | 2,274 |  |  | $ | 2,760 |  |  | $ | 2,789 |
Interest on lease liabilities |  | Interest expense |  | 664 |  |  | 759 |  |  | 850 |
|  |  |  | $ | 2,938 |  |  | $ | 3,519 |  |  | $ | 3,639 |
Operating lease costs: |  |  |  |  |  |  |  |
Operating lease costs |  | Rent expense |  | $ | 23,953 |  |  | $ | 24,126 |  |  | $ | 25,381 |
Variable lease cost |  | Rent expense |  | 1,724 |  |  | 1,892 |  |  | 514 |
Short-term lease cost |  | Rent expense |  | 234 |  |  | 136 |  |  | 142 |
|  |  |  | $ | 25,911 |  |  | $ | 26,154 |  |  | $ | 26,037 |
Additional information related to leases is as follows:
Other Information |  | Fiscal 2024 |  | Fiscal 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Financing cash flows from finance leases |  | $ | 2,470 |  |  | $ | 2,527 |
Operating cash flows from finance leases |  | 664 |  |  | 759 |
Operating cash flows from operating leases |  | 25,183 |  |  | 25,391 |
Right of use assets obtained in exchange for new lease obligations: |  |  |  |
Finance lease liabilities |  | 232 |  |  | 357 |
Operating lease liabilities, including from acquisitions |  | 3,394 |  |  | 276 |
| December 26, 2024 |  | December 28, 2023
Finance leases: |  |  |
Property and equipment – gross | $ | 29,061 |  |  | $ | 30,106 |
Accumulated depreciation and amortization | (19,078) |  |  | (17,956) |
Property and equipment - net | $ | 9,983 |  |  | $ | 12,150 |
Remaining lease terms and discount rates are as follows:
Lease Term and Discount Rate |  | December 26, 2024 |  | December 28, 2023
Weighted-average remaining lease terms: |  |  |  |
Finance leases |  | 6 years |  | 7 years
Operating leases |  | 11 years |  | 12 years
Weighted-average discount rates: |  |  |  |
Finance leases |  | 4.69% |  | 4.62%
Operating leases |  | 4.79% |  | 4.52%
Maturities of lease liabilities as of December 26, 2024 are as follows:
Fiscal Year |  | Operating Leases |  | Finance Leases
2025 |  | $ | 23,963 |  | $ | 3,144
2026 |  | 24,951 |  | 3,027
2027 |  | 23,341 |  | 2,054
2028 |  | 22,478 |  | 1,923
2029 |  | 21,066 |  | 1,578
Thereafter |  | 118,461 |  | 3,157
Total lease payments |  | 234,260 |  | 14,883
Less: amount representing interest |  | (53,719) |  |  | (1,932) |
Total lease liabilities |  | $ | 180,541 |  | $ | 12,951
Deferred rent payments of approximately $562 for the Company’s operating leases have been included in the total operating lease obligations as of December 26, 2024, of which approximately $113 is included in long-term operating lease obligations.
Leases | 7. 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 ASC 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 exercise of lease renewal options is done at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and related right-of-use asset and lease liability. The depreciable life of the asset is limited to the expected term. The Company’s lease agreements do not contain any residual value guarantees or any restrictions or covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in the lease in determining the present value of lease payments. When the lease does not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the fixed rate the Company could borrow for a similar amount, over a similar lease term with similar collateral. The Company recognizes right-of-use assets for all assets subject to operating leases in an amount equal to the operating lease liabilities, adjusted for the balances of long-term prepaid rent, favorable lease intangible assets, deferred lease expense, unfavorable lease liabilities and deferred lease incentive liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. 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:
Lease Cost |  | Classification |  | Fiscal 2024 |  | Fiscal 2023 |  | Fiscal 2022
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of finance lease assets |  | Depreciation and amortization |  | $ | 2,274 |  |  | $ | 2,760 |  |  | $ | 2,789 |
Interest on lease liabilities |  | Interest expense |  | 664 |  |  | 759 |  |  | 850 |
|  |  |  | $ | 2,938 |  |  | $ | 3,519 |  |  | $ | 3,639 |
Operating lease costs: |  |  |  |  |  |  |  |
Operating lease costs |  | Rent expense |  | $ | 23,953 |  |  | $ | 24,126 |  |  | $ | 25,381 |
Variable lease cost |  | Rent expense |  | 1,724 |  |  | 1,892 |  |  | 514 |
Short-term lease cost |  | Rent expense |  | 234 |  |  | 136 |  |  | 142 |
|  |  |  | $ | 25,911 |  |  | $ | 26,154 |  |  | $ | 26,037 |
Additional information related to leases is as follows:
Other Information |  | Fiscal 2024 |  | Fiscal 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Financing cash flows from finance leases |  | $ | 2,470 |  |  | $ | 2,527 |
Operating cash flows from finance leases |  | 664 |  |  | 759 |
Operating cash flows from operating leases |  | 25,183 |  |  | 25,391 |
Right of use assets obtained in exchange for new lease obligations: |  |  |  |
Finance lease liabilities |  | 232 |  |  | 357 |
Operating lease liabilities, including from acquisitions |  | 3,394 |  |  | 276 |
| December 26, 2024 |  | December 28, 2023
Finance leases: |  |  |
Property and equipment – gross | $ | 29,061 |  |  | $ | 30,106 |
Accumulated depreciation and amortization | (19,078) |  |  | (17,956) |
Property and equipment - net | $ | 9,983 |  |  | $ | 12,150 |
Remaining lease terms and discount rates are as follows:
Lease Term and Discount Rate |  | December 26, 2024 |  | December 28, 2023
Weighted-average remaining lease terms: |  |  |  |
Finance leases |  | 6 years |  | 7 years
Operating leases |  | 11 years |  | 12 years
Weighted-average discount rates: |  |  |  |
Finance leases |  | 4.69% |  | 4.62%
Operating leases |  | 4.79% |  | 4.52%
Maturities of lease liabilities as of December 26, 2024 are as follows:
Fiscal Year |  | Operating Leases |  | Finance Leases
2025 |  | $ | 23,963 |  | $ | 3,144
2026 |  | 24,951 |  | 3,027
2027 |  | 23,341 |  | 2,054
2028 |  | 22,478 |  | 1,923
2029 |  | 21,066 |  | 1,578
Thereafter |  | 118,461 |  | 3,157
Total lease payments |  | 234,260 |  | 14,883
Less: amount representing interest |  | (53,719) |  |  | (1,932) |
Total lease liabilities |  | $ | 180,541 |  | $ | 12,951
Deferred rent payments of approximately $562 for the Company’s operating leases have been included in the total operating lease obligations as of December 26, 2024, of which approximately $113 is included in long-term operating lease obligations.

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- 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
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- 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
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