XML 49 R36.htm IDEA: XBRL DOCUMENT v3.22.1
LEASES (Tables)
 3 Months Ended
Apr. 02, 2022
Leases [Abstract]  
Components of leases
The components of lease expense were as follows (in thousands):
Lease Cost Condensed Consolidated
Statements of Income (Loss)
and Comprehensive
Income (Loss) Location		For the 13 Weeks Ended April 2, 2022For the 13 Weeks Ended April 3, 2021
Operating lease cost(1)(2)
SG&A$20,192 $23,366 
Short-term lease costSG&A$184 $168 
Variable lease costSG&A$6,948 $5,407 
_______________________________________________
(1) Includes sublease income, which was immaterial.
(2) Excludes the impact of deferred or abated rent amounts

The following table discloses supplemental balance sheet information for the Company’s leases (in thousands):
Leases Condensed
Consolidated
Balance Sheets
Location		April 2, 2022January 1, 2022
Assets
OperatingOperating lease ROU assets $166,231 $177,597 
Liabilities
Current:
OperatingCurrent operating lease liabilities$52,739 $58,721 
Noncurrent:
OperatingLong-term operating lease liabilities$164,588 $174,520 
The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases:
Lease Term and Discount RateApril 2, 2022January 1, 2022
Weighted-average remaining lease term:
Operating leases 5.7 years5.7 years
Weighted-average discount rate:
Operating leases 14.1 %14.1 %
Maturity of lease liabilities
Future minimum lease payments by year as of April 2, 2022 were as follows (in thousands):
Fiscal Year
Operating Leases (1)
2022 (remaining)$66,249 
202368,878 
202445,589 
202531,740 
202625,676 
Thereafter94,783 
Total lease payments$332,915 
Less: Interest115,588 
Total lease obligations$217,327 
________________________________________________________________________
(1) Future minimum lease payments exclude the impact of deferred or abated rent amounts
Maturity of lease liabilities
Future minimum lease payments by year as of April 2, 2022 were as follows (in thousands):
Fiscal Year
Operating Leases (1)
2022 (remaining)$66,249 
202368,878 
202445,589 
202531,740 
202625,676 
Thereafter94,783 
Total lease payments$332,915 
Less: Interest115,588 
Total lease obligations$217,327 
________________________________________________________________________
(1) Future minimum lease payments exclude the impact of deferred or abated rent amounts
Supplemental cash flow information
Supplemental cash flow information related to leases was as follows (in thousands):
For the 13 Weeks Ended April 2, 2022For the 13 Weeks Ended April 3, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases(1)
$24,439 $28,740 
Leased assets obtained in exchange for new operating lease liabilities1,494 4,931 
________________________________________________________________________________
(1) Cash flows for the 13 weeks ended April 2, 2022 exclude the impact of deferred or abated rent amounts