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Leases (Tables) | 3 Months Ended
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Apr. 02, 2022
Leases [Abstract] |
Schedule of Lease Assets and Lease Liabilities | At April 2, 2022 and January 1, 2022, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
|  | April 2, 2022 |  |  | January 1, 2022 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | $ | 86,302 |  |  | $ | 89,902 |
Finance lease assets |  |  | 136 |  |  |  | 127 |
Total leased assets |  | $ | 86,438 |  |  | $ | 90,029 |
Liabilities: |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |
Operating |  | $ | 18,969 |  |  | $ | 20,297 |
Finance |  |  | 101 |  |  |  | 75 |
Noncurrent |  |  |  |  |  |  |  |
Operating |  | $ | 75,527 |  |  | $ | 78,157 |
Finance |  |  | 22 |  |  |  | 29 |
Total lease liabilities |  | $ | 94,619 |  |  | $ | 98,558 |
Schedule of Components of Lease Expense | For the three months ended April 2, 2022 and April 3, 2021, the components of the Company’s lease expense were as follows
|  | Three Months Ended |
|  | April 2, |  |  | April 3, |
|  | 2022 |  |  | 2021 |
Operating lease cost: |  |  |  |  |  |  |  |
Fixed lease cost |  | $ | 8,112 |  |  | $ | 11,044 |
Lease termination cost |  |  | (120 | ) |  |  | 3,152 |
Variable lease cost |  |  | 7 |  |  |  | 5 |
Total operating lease cost |  | $ | 7,999 |  |  | $ | 14,201 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | 35 |  |  |  | 43 |
Interest on lease liabilities |  |  | 1 |  |  |  | 2 |
Total finance lease cost |  | $ | 36 |  |  | $ | 45 |
Total lease cost |  | $ | 8,035 |  |  | $ | 14,246 |
Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates | At April 2, 2022 and January 1, 2022, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
|  | April 2, 2022 |  |  | January 1, 2022 |
Weighted Average Remaining Lease Term (years) |  |  |  |  |  |  |  |
Operating leases |  |  | 7.25 |  |  |  | 7.29 |
Finance leases |  |  | 1.35 |  |  |  | 1.54 |
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating leases |  |  | 7.15 |  |  |  | 7.15 |
Finance leases |  |  | 4.56 |  |  |  | 5.31 |
Schedule of Maturity of Lease Liabilities | At April 2, 2022, the maturity of the Company’s lease liabilities in each of the next five fiscal years and thereafter were as follows:
| Operating Leases |  |  | Finance Leases |  |  | Total |
Remainder of fiscal 2022 | $ | 19,048 |  |  | $ | 86 |  |  | $ | 19,134 |
Fiscal 2023 |  | 21,532 |  |  |  | 36 |  |  |  | 21,568 |
Fiscal 2024 |  | 16,123 |  |  |  | 5 |  |  |  | 16,128 |
Fiscal 2025 |  | 11,811 |  |  |  | — |  |  |  | 11,811 |
Fiscal 2026 |  | 9,472 |  |  |  | — |  |  |  | 9,472 |
Thereafter |  | 45,573 |  |  |  | — |  |  |  | 45,573 |
Total lease payments | $ | 123,559 |  |  | $ | 127 |  |  | $ | 123,686 |
Less imputed interest |  | 29,063 |  |  |  | 4 |  |  |  | 29,067 |
Present value of lease liabilities | $ | 94,496 |  |  | $ | 123 |  |  | $ | 94,619 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the three months ended April 2, 2022 and April 3, 2021 were as follows:
|  | Three Months Ended |
|  | April 2, |  |  | April 3, |
|  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 8,509 |  |  | $ | 11,772 |
Operating cash flows from finance leases |  | $ | 1 |  |  | $ | 2 |
Financing cash flows from finance leases |  | $ | 35 |  |  | $ | 43 |
Leased assets obtained (modified) in exchange for new (modified) operating lease liabilities |  | $ | 2,859 |  |  | $ | (1,892 | )
Leased assets obtained in exchange for new finance lease liabilities |  | $ | 46 |  |  | $ | — |

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