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Leases (Tables) | 12 Months Ended
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Dec. 25, 2024
Leases [Abstract] |
Schedule of Components of Lease Costs and Lease Terms and Discount Rates | The components of lease costs were as follows:
|  |  | Fiscal Year Ended
| Classification |  | December 25, 2024 |  | December 27, 2023 |  | December 28, 2022
|  |  | (In thousands)
Lease costs |  |  |  |  |  |  |
Finance lease costs: |  |  |  |  |  |  |
Amortization of right-of-use assets | Depreciation and amortization |  | $ | 1,350 |  |  | $ | 1,451 |  |  | $ | 1,704 |
Interest on lease liabilities | Interest expense, net |  | 1,990 |  |  | 2,139 |  |  | 2,350 |
Operating lease costs: |  |  |  |  |  |  |
Operating lease costs | Occupancy |  | 8,828 |  |  | 8,584 |  |  | 7,624 |
Operating lease costs | Costs of franchise and license revenue |  | 12,702 |  |  | 14,022 |  |  | 15,541 |
Operating lease costs | General and administrative expenses |  | 739 |  |  | 629 |  |  | 564 |
Operating lease costs | Other operating expenses |  | 459 |  |  | 257 |  |  | — |
Operating lease costs | Restructuring charges and exit costs |  | 125 |  |  | 175 |  |  | 201 |
Variable lease costs: |  |  |  |  |  |  |
Variable lease costs | Occupancy |  | 4,716 |  |  | 4,789 |  |  | 3,988 |
Variable lease costs | Costs of franchise and license revenue |  | 5,979 |  |  | 6,232 |  |  | 6,596 |
Variable lease costs | General and administrative expenses |  | 333 |  |  | 271 |  |  | 255 |
Variable lease costs | Other operating expenses |  | 6 |  |  | 14 |  |  | — |
Variable lease costs | Restructuring charges and exit costs |  | 65 |  |  | 46 |  |  | 34 |
Sublease income: |  |  |  |  |  |  |
Sublease income | Franchise and license revenue |  | (22,817) |  |  | (24,966) |  |  | (27,445) |
Sublease income | Restructuring charges and exit costs |  | (192) |  |  | (166) |  |  | (229) |
Total lease costs |  |  | $ | 14,283 |  |  | $ | 13,477 |  |  | $ | 11,183 |
Lease terms and discount rates were as follows:
| December 25, 2024 |  | December 27, 2023
Weighted-average remaining lease term (in years): |  |  |
Finance leases | 8.7 |  | 8.0
Operating leases | 9.0 |  | 8.8
Weighted-average discount rate: |  |  |
Finance leases | 21.4 | % |  | 23.1 | %
Operating leases | 6.1 | % |  | 6.0 | %
Cash and supplemental noncash amounts were as follows:
|  | Fiscal Year Ended
|  | December 25, 2024 |  | December 27, 2023 |  | December 28, 2022
|  | (In thousands)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 1,990 |  |  | $ | 2,139 |  |  | $ | 2,350 |
Operating cash flows from operating leases |  | $ | 23,055 |  |  | $ | 24,310 |  |  | $ | 24,626 |
Financing cash flows from finance leases |  | $ | 1,411 |  |  | $ | 1,786 |  |  | $ | 2,020 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 1,783 |  |  | $ | 1,071 |  |  | $ | 537 |
Right-of-use assets obtained in exchange for new operating lease liabilities (1) |  | $ | 25,283 |  |  | $ | 7,047 |  |  | $ | 16,040 |
(1) Right-of-use assets obtained in 2022 includes $7.9 million from the acquisition of Keke’s. See Note 3.
Schedule of Components of Lease Income | The components of lease income were as follows:
|  |  | Fiscal Year Ended
| Classification |  | December 25, 2024 |  | December 27, 2023 |  | December 28, 2022
|  |  | (In thousands)
Lease income |  |  |  |  |  |  |
Operating lease income | Franchise and license revenue |  | $ | 24,269 |  |  | $ | 26,353 |  |  | $ | 28,473 |
Operating lease income | Restructuring charges and exit costs |  | 130 |  |  | 119 |  |  | 183 |
Operating lease income | General and administrative expenses |  | 71 |  |  | 118 |  |  | 140 |
Variable lease income | Franchise and license revenue |  | 8,895 |  |  | 9,530 |  |  | 10,124 |
Variable lease income | Restructuring charges and exit costs |  | 61 |  |  | 47 |  |  | 46 |
Total lease income |  |  | $ | 33,426 |  |  | $ | 36,167 |  |  | $ | 38,966 |
Schedule of Finance Lease Liability Maturity | Maturities of lease liabilities and receipts as of December 25, 2024 were as follows:
| Lease Liabilities |  | Lease Receipts
| Finance |  | Operating |  | Operating
| (In thousands)
2025 | $ | 3,077 |  |  | $ | 23,243 |  |  | $ | 23,271 |
2026 | 2,985 |  |  | 23,114 |  |  | 22,962 |
2027 | 2,639 |  |  | 21,328 |  |  | 21,413 |
2028 | 1,953 |  |  | 19,479 |  |  | 19,691 |
2029 | 1,751 |  |  | 17,954 |  |  | 19,034 |
Thereafter | 9,806 |  |  | 74,758 |  |  | 96,131 |
Total undiscounted cash flows | 22,211 |  |  | 179,876 |  |  | $ | 202,502 |
Less: interest | 11,643 |  |  | 43,548 |  |  |
Present value of lease liabilities | 10,568 |  |  | 136,328 |  |  |
Less: current lease liabilities | 1,284 |  |  | 15,487 |  |  |
Long-term lease liabilities | $ | 9,284 |  |  | $ | 120,841 |  |  |
Schedule of Lessee Lease Liability Maturity | Maturities of lease liabilities and receipts as of December 25, 2024 were as follows:
| Lease Liabilities |  | Lease Receipts
| Finance |  | Operating |  | Operating
| (In thousands)
2025 | $ | 3,077 |  |  | $ | 23,243 |  |  | $ | 23,271 |
2026 | 2,985 |  |  | 23,114 |  |  | 22,962 |
2027 | 2,639 |  |  | 21,328 |  |  | 21,413 |
2028 | 1,953 |  |  | 19,479 |  |  | 19,691 |
2029 | 1,751 |  |  | 17,954 |  |  | 19,034 |
Thereafter | 9,806 |  |  | 74,758 |  |  | 96,131 |
Total undiscounted cash flows | 22,211 |  |  | 179,876 |  |  | $ | 202,502 |
Less: interest | 11,643 |  |  | 43,548 |  |  |
Present value of lease liabilities | 10,568 |  |  | 136,328 |  |  |
Less: current lease liabilities | 1,284 |  |  | 15,487 |  |  |
Long-term lease liabilities | $ | 9,284 |  |  | $ | 120,841 |  |  |
Schedule of Lessor Operating Lease Payments to be Received Maturity | Maturities of lease liabilities and receipts as of December 25, 2024 were as follows:
| Lease Liabilities |  | Lease Receipts
| Finance |  | Operating |  | Operating
| (In thousands)
2025 | $ | 3,077 |  |  | $ | 23,243 |  |  | $ | 23,271 |
2026 | 2,985 |  |  | 23,114 |  |  | 22,962 |
2027 | 2,639 |  |  | 21,328 |  |  | 21,413 |
2028 | 1,953 |  |  | 19,479 |  |  | 19,691 |
2029 | 1,751 |  |  | 17,954 |  |  | 19,034 |
Thereafter | 9,806 |  |  | 74,758 |  |  | 96,131 |
Total undiscounted cash flows | 22,211 |  |  | 179,876 |  |  | $ | 202,502 |
Less: interest | 11,643 |  |  | 43,548 |  |  |
Present value of lease liabilities | 10,568 |  |  | 136,328 |  |  |
Less: current lease liabilities | 1,284 |  |  | 15,487 |  |  |
Long-term lease liabilities | $ | 9,284 |  |  | $ | 120,841 |  |  |

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