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Leases (Tables) | 3 Months Ended
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Apr. 01, 2023
Leases [Abstract] |
Schedule of Lease Assets and Lease Liabilities | At April 1, 2023 and December 31, 2022, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
|  | April 1, 2023 |  |  | December 31, 2022 |
Assets: |  |  |  |  |  |
Operating leases |  | $ | 68,962 |  |  | $ | 75,696 |
Finance leases |  |  | 28 |  |  |  | 54 |
Total lease assets |  | $ | 68,990 |  |  | $ | 75,750 |
Liabilities: |  |  |  |  |  |
Current |  |  |  |  |  |
Operating leases |  | $ | 15,464 |  |  | $ | 17,955 |
Finance leases |  |  | 19 |  |  |  | 31 |
Noncurrent |  |  |  |  |  |
Operating leases |  |  | 63,783 |  |  |  | 68,099 |
Finance leases |  |  | 2 |  |  |  | 7 |
Total lease liabilities |  | $ | 79,268 |  |  | $ | 86,092 |
Schedule of Components of Lease Expense | For the three months ended April 1, 2023 and April 2, 2022, the components of the Company’s lease expense were as follows:
|  | Three Months Ended |
|  | April 1, |  |  | April 2, |
|  | 2023 |  |  | 2022 |
Operating lease cost: |  |  |  |  |  |
Fixed lease cost |  | $ | 7,153 |  |  | $ | 8,112 |
Lease termination cost |  |  | 12,219 |  |  |  | (120 | )
Variable lease cost |  |  | 15 |  |  |  | 7 |
Total operating lease cost |  | $ | 19,387 |  |  | $ | 7,999 |
Finance lease cost: |  |  |  |  |  |
Amortization of leased assets |  | $ | 26 |  |  | $ | 35 |
Interest on lease liabilities |  |  | 0 |  |  |  | 1 |
Total finance lease cost |  | $ | 26 |  |  | $ | 36 |
Total lease cost |  | $ | 19,413 |  |  | $ | 8,035 |
As previously disclosed, i
Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates | At April 1, 2023 and December 31, 2022, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
|  | April 1, 2023 |  |  | December 31, 2022 |
Weighted Average Remaining Lease Term (years) |  |  |  |  |  |
Operating leases |  |  | 7.00 |  |  |  | 6.90 |
Finance leases |  |  | 1.06 |  |  |  | 1.00 |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 7.13 |  |  |  | 7.03 |
Finance leases |  |  | 3.82 |  |  |  | 3.52 |
Schedule of Maturity of Lease Liabilities | At April 1, 2023, 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 2023 | $ | 15,428 |  |  | $ | 15 |  |  | $ | 15,443 |
Fiscal 2024 |  | 18,485 |  |  |  | 7 |  |  |  | 18,492 |
Fiscal 2025 |  | 13,148 |  |  |  | — |  |  |  | 13,148 |
Fiscal 2026 |  | 9,805 |  |  |  | — |  |  |  | 9,805 |
Fiscal 2027 |  | 9,449 |  |  |  | — |  |  |  | 9,449 |
Fiscal 2028 |  | 9,197 |  |  |  | — |  |  |  | 9,197 |
Thereafter |  | 26,921 |  |  |  | — |  |  |  | 26,921 |
Total lease payments | $ | 102,433 |  |  | $ | 22 |  |  | $ | 102,455 |
Less imputed interest |  | 23,186 |  |  |  | 1 |  |  |  | 23,187 |
Present value of lease liabilities | $ | 79,247 |  |  | $ | 21 |  |  | $ | 79,268 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the three months ended April 1, 2023 and April 2, 2022 were as follows:
|  | Three Months Ended |
|  | April 1, |  |  | April 2, |
|  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 7,208 |  |  | $ | 8,509 |
Operating cash flows from finance leases |  | $ | 0 |  |  | $ | 1 |
Financing cash flows from finance leases |  | $ | 26 |  |  | $ | 35 |
Lease assets (modified) obtained in exchange for (modified) new operating lease liabilities |  | $ | (1,052 | ) |  | $ | 2,859 |
Lease assets obtained in exchange for new finance lease liabilities |  | $ | — |  |  | $ | 46 |

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