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Leases (Tables)
12 Months Ended
Dec. 28, 2024
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities

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

 

Schedule of Components of Lease Expense

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

 

Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates

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

 

 

 

Schedule of Maturity of Operating Lease Liabilities

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

 

 

Summary of Supplemental Cash Flow Information Related to Leases

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