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Leases | 12 Months Ended
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Dec. 28, 2024
Leases [Abstract] |
Leases | 4. Leases At December 28, 2024 and December 30, 2023, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
|  | December 28, 2024 |  |  | December 30, 2023 |
Assets: |  |  |  |  |  |
Operating leases |  | $ | 42,047 |  |  | $ | 52,272 |
Finance leases |  |  | — |  |  |  | 5 |
Total lease assets |  | $ | 42,047 |  |  | $ | 52,277 |
Liabilities: |  |  |  |  |  |
Current |  |  |  |  |  |
Operating leases |  | $ | 8,168 |  |  | $ | 9,613 |
Finance leases |  |  | — |  |  |  | 4 |
Noncurrent |  |  |  |  |  |
Operating leases |  |  | 44,322 |  |  |  | 53,461 |
Finance leases |  |  | — |  |  |  | — |
Total lease liabilities |  | $ | 52,490 |  |  | $ | 63,078 |
For the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the components of the Company’s lease expense were as follows:
|  | Fiscal Year Ended |
|  | December 28, |  |  | December 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Operating lease cost: |  |  |  |  |  |  |  |  |
Fixed lease cost |  | $ | 15,444 |  |  | $ | 21,259 |  |  | $ | 33,227 |
Lease termination cost |  |  | 34 |  |  |  | 12,718 |  |  |  | 2,726 |
Variable lease cost |  |  | 23 |  |  |  | 62 |  |  |  | 27 |
Total operating lease cost |  | $ | 15,501 |  |  | $ | 34,039 |  |  | $ | 35,980 |
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | $ | 4 |  |  | $ | 48 |  |  | $ | 112 |
Interest on lease liabilities |  |  | 0 |  |  |  | 1 |  |  |  | 6 |
Total finance lease cost |  | $ | 4 |  |  | $ | 49 |  |  | $ | 118 |
Total lease cost |  | $ | 15,505 |  |  | $ | 34,088 |  |  | $ | 36,098 |
As previously disclosed, in conjunction with the continued rationalization of its real estate portfolio, the Company entered into subleases with commencement dates in the first quarter of fiscal 2023, which resulted in lease asset impairment charges of $2,680 in the aggregate that were recognized in general and administrative expenses in the Company's consolidated statements of operations for the fiscal year ended December 31, 2022. The Company reco rded $4,217 and $3,375 of sublease income for the fiscal years ended December 28, 2024 and December 30, 2023, respectively, as an offset to general and administrative expenses. At December 28, 2024 and December 30, 2023, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
|  | December 28, 2024 |  |  | December 30, 2023 |
Weighted Average Remaining Lease Term (years) |  |  |  |  |  |
Operating leases |  |  | 6.84 |  |  |  | 7.31 |
Finance leases |  |  | — |  |  |  | 0.48 |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 7.68 |  |  |  | 7.54 |
Finance leases |  |  | — |  |  |  | 4.10 |
The Company’s leases have remaining lease terms of 0 to 8 years with a weighted average lease term of 6.84 years as of December 28, 2024. At December 28, 2024, the maturity of the Company’s operating lease liabilities in each of the next five fiscal years and thereafter are as follows:
| Operating Leases |
Fiscal 2025 | $ | 11,977 |
Fiscal 2026 |  | 10,088 |
Fiscal 2027 |  | 9,307 |
Fiscal 2028 |  | 9,073 |
Fiscal 2029 |  | 8,963 |
Thereafter |  | 17,852 |
Total lease payments | $ | 67,260 |
Less imputed interest |  | 14,770 |
Present value of lease liabilities | $ | 52,490 |
Supplemental cash flow information related to leases for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were as follows:
|  | Fiscal Year Ended |
|  | December 28, |  |  | December 30, |  |  | December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 15,786 |  |  | $ | 22,013 |  |  | $ | 31,580 |
Operating cash flows from finance leases |  | $ | 0 |  |  | $ | 1 |  |  | $ | 6 |
Financing cash flows from finance leases |  | $ | 4 |  |  | $ | 48 |  |  | $ | 112 |
Lease assets obtained (modified) in exchange for new (modified) operating lease liabilities |  | $ | 968 |  |  | $ | (7,086 | ) |  | $ | 13,297 |
Lease assets obtained in exchange for new finance lease liabilities |  | $ | — |  |  | $ | — |  |  | $ | 49 |

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