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Leases (Tables) | 3 Months Ended
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Mar. 30, 2024
Leases [Abstract] |
Schedule of Lease Assets and Lease Liabilities | At March 30, 2024 and December 30, 2023, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
|  | March 30, 2024 |  |  | December 30, 2023 |
Assets: |  |  |  |  |  |
Operating leases |  | $ | 50,133 |  |  | $ | 52,272 |
Finance leases |  |  | 2 |  |  |  | 5 |
Total lease assets |  | $ | 50,135 |  |  | $ | 52,277 |
Liabilities: |  |  |  |  |  |
Current |  |  |  |  |  |
Operating leases |  | $ | 9,660 |  |  | $ | 9,613 |
Finance leases |  |  | 2 |  |  |  | 4 |
Noncurrent |  |  |  |  |  |
Operating leases |  |  | 51,256 |  |  |  | 53,461 |
Finance leases |  |  | — |  |  |  | — |
Total lease liabilities |  | $ | 60,918 |  |  | $ | 63,078 |
Schedule of Components of Lease Expense | For the three months ended March 30, 2024 and April 1, 2023, the components of the Company’s lease expense were as follows:
|  | Three Months Ended |
|  | March 30, |  |  | April 1, |
|  | 2024 |  |  | 2023 |
Operating lease cost: |  |  |  |  |  |
Fixed lease cost |  | $ | 3,983 |  |  | $ | 7,153 |
Lease termination (benefit) cost |  |  | (156 | ) |  |  | 12,219 |
Variable lease cost |  |  | 14 |  |  |  | 15 |
Total operating lease cost |  | $ | 3,841 |  |  | $ | 19,387 |
Finance lease cost: |  |  |  |  |  |
Amortization of leased assets |  | $ | 2 |  |  | $ | 26 |
Interest on lease liabilities |  |  | 0 |  |  |  | 0 |
Total finance lease cost |  | $ | 2 |  |  | $ | 26 |
Total lease cost |  | $ | 3,843 |  |  | $ | 19,413 |
Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates | At March 30, 2024 and December 30, 2023, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
|  | March 30, 2024 |  |  | December 30, 2023 |
Weighted Average Remaining Lease Term (years) |  |  |  |  |  |
Operating leases |  |  | 7.14 |  |  |  | 7.31 |
Finance leases |  |  | 0.70 |  |  |  | 0.48 |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 7.55 |  |  |  | 7.54 |
Finance leases |  |  | 3.69 |  |  |  | 4.10 |
Schedule of Maturity of Lease Liabilities | At March 30, 2024, 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 2024 | $ | 10,342 |  |  | $ | 2 |  |  | $ | 10,344 |
Fiscal 2025 |  | 13,081 |  |  |  | — |  |  |  | 13,081 |
Fiscal 2026 |  | 10,228 |  |  |  | — |  |  |  | 10,228 |
Fiscal 2027 |  | 9,473 |  |  |  | — |  |  |  | 9,473 |
Fiscal 2028 |  | 9,030 |  |  |  | — |  |  |  | 9,030 |
Fiscal 2029 |  | 8,950 |  |  |  | — |  |  |  | 8,950 |
Thereafter |  | 17,852 |  |  |  | — |  |  |  | 17,852 |
Total lease payments | $ | 78,956 |  |  | $ | 2 |  |  | $ | 78,958 |
Less imputed interest |  | 18,040 |  |  |  | 0 |  |  |  | 18,040 |
Present value of lease liabilities | $ | 60,916 |  |  | $ | 2 |  |  | $ | 60,918 |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the three months ended March 30, 2024 and April 1, 2023 were as follows:
|  | Three Months Ended |
|  | March 30, |  |  | April 1, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 3,964 |  |  | $ | 7,208 |
Operating cash flows from finance leases |  | $ | 0 |  |  | $ | 0 |
Financing cash flows from finance leases |  | $ | 2 |  |  | $ | 26 |
Lease assets obtained (modified) in exchange for new (modified) operating lease liabilities |  | $ | 766 |  |  | $ | (1,052 | )
Lease assets (modified) obtained in exchange for (modified) new finance lease liabilities |  | $ | (1 | ) |  | $ | — |

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