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LEASES (Tables) | 3 Months Ended
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Mar. 30, 2024
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 March 30, 2024 |  | For the 13 Weeks Ended April 1, 2023 |  |  |  |
Operating lease cost(1) |  | SG&A |  | $ | 16,309 |  |  | $ | 17,877 |  |  |  |  |
Short-term lease cost |  | SG&A |  | $ | 286 |  |  | $ | 215 |  |  |  |  |
Variable lease cost |  | SG&A |  | $ | 5,353 |  |  | $ | 6,120 |  |  |  |  |
_______________________________________________ (1) Includes sublease income, which was immaterial. The following table discloses supplemental balance sheet information for the Company’s leases (in thousands):
Leases |  | Condensed Consolidated Balance Sheets Location |  | March 30, 2024 |  | December 30, 2023
Assets |  |  |  |  |  |
Operating |  | Operating lease ROU assets |  | $ | 142,292 |  |  | $ | 151,000 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Current operating lease liabilities |  | $ | 40,257 |  |  | $ | 43,565 |
Noncurrent: |  |  |  |  |  |
Operating |  | Long-term operating lease liabilities |  | $ | 129,131 |  |  | $ | 137,644 |
The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases:
Lease Term and Discount Rate |  | March 30, 2024 |  | December 30, 2023
Weighted-average remaining lease term: |  |  |  |
Operating leases |  | 6.4 years |  | 6.4 years
Weighted-average discount rate: |  |  |  |
Operating leases |  | 15.0 | % |  | 14.9 | %
Maturity of lease liabilities | Future minimum lease payments by year as of March 30, 2024 were as follows (in thousands):
Fiscal Year |  | Operating Leases |  |
2024 (remaining) |  | $ | 51,361 |  |  |
2025 |  | 51,302 |  |  |
2026 |  | 39,159 |  |  |
2027 |  | 27,804 |  |  |
2028 |  | 17,709 |  |  |
Thereafter |  | 85,617 |  |  |
Total lease payments |  | $ | 272,952 |  |  |
Less: Interest |  | 103,564 |  |  |
Total lease obligations |  | $ | 169,388 |  |  |
Maturity of lease liabilities | Future minimum lease payments by year as of March 30, 2024 were as follows (in thousands):
Fiscal Year |  | Operating Leases |  |
2024 (remaining) |  | $ | 51,361 |  |  |
2025 |  | 51,302 |  |  |
2026 |  | 39,159 |  |  |
2027 |  | 27,804 |  |  |
2028 |  | 17,709 |  |  |
Thereafter |  | 85,617 |  |  |
Total lease payments |  | $ | 272,952 |  |  |
Less: Interest |  | 103,564 |  |  |
Total lease obligations |  | $ | 169,388 |  |  |
Supplemental cash flow information | Supplemental cash flow information related to leases was as follows (in thousands):
| For the 13 Weeks Ended March 30, 2024 |  | For the 13 Weeks Ended April 1, 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 19,937 |  |  | $ | 22,362 |
Leased assets obtained in exchange for new operating lease liabilities | 4,288 |  |  | 6,263 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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