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Note Q - Leases | 6 Months Ended
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Sep. 28, 2025
Notes to Financial Statements |
Leases, Disclosure [Text Block] | NOTE Q – LEASES The Company is party as lessee to various leases for land, buildings and certain office equipment for its Company-owned restaurants and corporate office, as well as a lessee/sublessor to one other property. Company as lessee The components of the net lease cost for the thirteen and twenty-six week periods ended September 28, 2025 and September 29, 2024 were as follows (in thousands):
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Operating lease cost |  | $ | 417 |  |  | $ | 420 |  |  | $ | 855 |  |  | $ | 861 |
Variable lease cost |  |  | 645 |  |  |  | 638 |  |  |  | 1,109 |  |  |  | 1,098 |
Less: Sublease income, net |  |  | (21 | ) |  |  | (21 | ) |  |  | (42 | ) |  |  | (42 | )
Total net lease cost |  | $ | 1,041 |  |  | $ | 1,037 |  |  | $ | 1,922 |  |  | $ | 1,917 |
The components of the net lease cost are included in the Condensed Consolidated Statements of Earnings for the thirteen and twenty-six week periods ended September 28, 2025 and September 29, 2024 as follows (in thousands):
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Restaurant operating expenses |  | $ | 858 |  |  | $ | 861 |  |  | $ | 1,540 |  |  | $ | 1,548 |
General and administrative expenses |  |  | 204 |  |  |  | 197 |  |  |  | 424 |  |  |  | 411 |
Less: Other income, net |  |  | (21 | ) |  |  | (21 | ) |  |  | (42 | ) |  |  | (42 | )
Total net lease cost |  | $ | 1,041 |  |  | $ | 1,037 |  |  | $ | 1,922 |  |  | $ | 1,917 |
Cash paid for amounts included in the measurement of lease liabilities for the thirteen and twenty-six week periods ended September 28, 2025 and September 29, 2024 were as follows (in thousands):
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Operating cash flows from operating leases |  |  | $561 |  |  |  | $551 |  |  |  | $1,122 |  |  |  | $1,104 |
The weighted average remaining lease term and weighted average discount rate for operating leases as of September 28, 2025 were as follows:
Weighted average remaining lease term (years): |  |  | 3.1 |
Weighted average discount rate: |  |  | 8.472 | %
Future lease commitments to be paid and received by the Company as of September 28, 2025 were as follows (in thousands):
|  | Payments |  |  | Receipts |  |  |  |  |
|  | Operating Leases |  |  | Subleases |  |  | Net Leases |
Fiscal year: |  |  |  |  |  |  |  |  |  |  |  |
2026 (a) |  | $ | 803 |  |  | $ | 84 |  |  | $ | 719 |
2027 |  |  | 1,940 |  |  |  | 281 |  |  |  | 1,659 |
2028 |  |  | 1,790 |  |  |  | 129 |  |  |  | 1,661 |
2029 |  |  | 440 |  |  |  | - |  |  |  | 440 |
2030 |  |  | 171 |  |  |  | - |  |  |  | 171 |
Thereafter |  |  | - |  |  |  | - |  |  |  | - |
Total lease commitments |  | $ | 5,144 |  |  | $ | 494 |  |  | $ | 4,650 |
Less: Amount representing interest |  |  | (580 | ) |  |  |  |  |  |  |  |
Present value of lease liabilities (b) |  | $ | 4,564 |  |  |  |  |  |  |  |  |
| (a) | Represents future lease commitments to be paid and received by the Company for the remainder of the 2026 fiscal year. Amount does not include $920 of lease commitments paid and received by the Company for the twenty-six week period ended September 28, 2025.
| (b) | The present value of minimum operating lease payments of $1,933 and $2,631 are included in “Current portion of operating lease liabilities” and “Long-term portion of operating lease liabilities,” respectively on the Condensed Consolidated Balance Sheet.
Company as lessor The components of net lease income for the thirteen and twenty-six week periods ended September 28, 2025 and September 29, 2024 were as follows (in thousands):
|  | Thirteen weeks ended |  |  | Twenty-six weeks ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Operating lease income, net |  | $ | 21 |  |  | $ | 21 |  |  | $ | 42 |  |  | $ | 42 |

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