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Leases (Tables) | 6 Months Ended
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Jul. 02, 2022
Leases [Abstract] |
Schedule of Lease Assets and Lease Liabilities | At July 2, 2022 and January 1, 2022, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
|  | July 2, 2022 |  |  | January 1, 2022 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | $ | 83,777 |  |  | $ | 89,902 |
Finance lease assets |  |  | 102 |  |  |  | 127 |
Total leased assets |  | $ | 83,879 |  |  | $ | 90,029 |
Liabilities: |  |  |  |  |  |  |  |
Current |  |  |  |  |  |  |  |
Operating |  | $ | 18,431 |  |  | $ | 20,297 |
Finance |  |  | 53 |  |  |  | 75 |
Noncurrent |  |  |  |  |  |  |  |
Operating |  | $ | 73,210 |  |  | $ | 78,157 |
Finance |  |  | 15 |  |  |  | 29 |
Total lease liabilities |  | $ | 91,709 |  |  | $ | 98,558 |
Schedule of Components of Lease Expense | For the three and six months ended July 2, 2022 and July 3, 2021, the components of the Company’s lease expense were as follows
|  | Three Months Ended |  |  | Six Months Ended |
|  | July 2, |  |  | July 3, |  |  | July 2, |  |  | July 3, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Operating lease cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed lease cost |  | $ | 7,791 |  |  | $ | 9,782 |  |  | $ | 15,903 |  |  | $ | 20,826 |
Lease termination cost |  |  | 2,220 |  |  |  | 3,208 |  |  |  | 2,100 |  |  |  | 6,360 |
Variable lease cost |  |  | 6 |  |  |  | 5 |  |  |  | 13 |  |  |  | 9 |
Total operating lease cost |  | $ | 10,017 |  |  | $ | 12,995 |  |  | $ | 18,016 |  |  | $ | 27,195 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | 26 |  |  |  | 37 |  |  |  | 61 |  |  |  | 80 |
Interest on lease liabilities |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 5 |
Total finance lease cost |  | $ | 27 |  |  | $ | 39 |  |  | $ | 63 |  |  | $ | 85 |
Total lease cost |  | $ | 10,044 |  |  | $ | 13,034 |  |  | $ | 18,079 |  |  | $ | 27,280 |
Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates | At July 2, 2022 and January 1, 2022, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
|  | July 2, 2022 |  |  | January 1, 2022 |
Weighted Average Remaining Lease Term (years) |  |  |  |  |  |  |  |
Operating leases |  |  | 7.15 |  |  |  | 7.29 |
Finance leases |  |  | 1.19 |  |  |  | 1.54 |
Weighted Average Discount Rate |  |  |  |  |  |  |  |
Operating leases |  |  | 7.10 |  |  |  | 7.15 |
Finance leases |  |  | 3.34 |  |  |  | 5.31 |
Schedule of Maturity of Lease Liabilities | At July 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 | $ | 11,847 |  |  | $ | 32 |  |  | $ | 11,879 |
Fiscal 2023 |  | 23,072 |  |  |  | 33 |  |  |  | 23,105 |
Fiscal 2024 |  | 16,988 |  |  |  | 4 |  |  |  | 16,992 |
Fiscal 2025 |  | 12,151 |  |  |  | — |  |  |  | 12,151 |
Fiscal 2026 |  | 9,571 |  |  |  | — |  |  |  | 9,571 |
Fiscal 2027 |  | 9,376 |  |  |  | — |  |  |  | 9,376 |
Thereafter |  | 36,182 |  |  |  | — |  |  |  | 36,182 |
Total lease payments | $ | 119,187 |  |  | $ | 69 |  |  | $ | 119,256 |
Less imputed interest |  | 27,546 |  |  |  | 1 |  |  |  | 27,547 |
Present value of lease liabilities | $ | 91,641 |  |  | $ | 68 |  |  | $ | 91,709 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the six months ended July 2, 2022 and July 3, 2021 were as follows:
|  | Six Months Ended |
|  | July 2, |  |  | July 3, |
|  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 16,733 |  |  | $ | 22,078 |
Operating cash flows from finance leases |  | $ | 2 |  |  | $ | 5 |
Financing cash flows from finance leases |  | $ | 61 |  |  | $ | 80 |
Leased assets obtained (modified) in exchange for new (modified) operating lease liabilities |  | $ | 6,909 |  |  | $ | (1,012 | )
Leased assets obtained in exchange for new finance lease liabilities |  | $ | 44 |  |  | $ | 81 |

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