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Leases (Tables)
 12 Months Ended
Dec. 27, 2020
Leases [Abstract]  
Balance Sheet Effects of Adoption of ASU 2016-02, Topic 842
The effects of the changes made to our consolidated balance sheet as of December 30, 2018 as a result of the adoption of Topic 842 was as follows (in thousands):
Balance at December 30, 2018Adjustments due to Topic 842Balance at December 30, 2018
Balance Sheet
Non-current assets
Right of use assets, net$— $478,268 $478,268 
Prepaid expenses and other current assets27,576 (6,592)20,984 
Current liabilities
Current portion of lease obligations786 40,606 41,392 
Non-current liabilities
Deferred rent75,675 (75,675)— 
Long-term portion of lease obligations9,414 506,745 516,159 
Stockholders' equity
Retained earnings$376,341 $(15,172)$361,169 
Assets and Liabilities, Leases
Leases are included in right of use assets, net, current portion of lease obligations, and long-term portion of lease liabilities on our consolidated balance sheet as of December 27, 2020 and December 29, 2019 as follows (in thousands):
December 27, 2020FinanceOperatingTotal
Right of use assets, net$9,644 $415,929 $425,573 
Current portion of lease obligations1,078 54,197 55,275 
Long-term portion of lease obligations10,937 454,296 465,233 
Total$12,015 $508,493 $520,508 
December 29, 2019FinanceOperatingTotal
Right of use assets, net$7,552 $418,696 $426,248 
Current portion of lease obligations725 41,974 42,699 
Long-term portion of lease obligations8,822 456,613 465,435 
Total$9,547 $498,587 $508,134 
Lease cost
The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and real estate taxes, are included in Occupancy on our consolidated statements of operations and comprehensive loss as follows (in thousands):
Year Ended
December 27, 2020December 29, 2019
Operating lease cost$67,320 $75,496 
Finance lease cost:
Amortization of right of use assets845 793 
Interest on lease liabilities534 544 
Total finance lease cost$1,379 $1,337 
Variable lease cost24,482 29,300 
Total lease costs$93,181 $106,133 
Operating and Finance Lease Liability Maturity
Maturities of our lease liabilities as of December 27, 2020 were as follows (in thousands):
Finance Leases Operating LeasesTotal
2021$1,581 $86,111 $87,692 
20221,314 75,885 77,199 
20231,244 73,457 74,701 
20241,264 71,368 72,632 
20251,283 66,520 67,803 
Thereafter8,793 346,676 355,469 
Total future lease liability$15,479 $720,017 $735,496 
Less imputed interest3,464 211,524 214,988 
Present value of lease liability$12,015 $508,493 $520,508 
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information in thousands (except other information) related to leases is as follows:
Year Ended
December 27, 2020December 29, 2019
Cash flows from operating activities
Cash paid related to lease liabilities
Operating leases$47,164 $78,260 
Finance leases534 512 
Cash flows from financing activities
Cash paid related to lease liabilities
Finance leases270 817 
Cash paid for amounts included in the measurement of lease liabilities$47,968 $79,589 
Right of use assets obtained in exchange for operating lease obligations$56,014 $12,580 
Right of use assets obtained in exchange for finance lease obligations$2,918 $1,606 
Other information related to operating leases as follows:
Weighted average remaining lease term10.24 years10.70 years
Weighted average discount rate6.90 %7.38 %
Other information related to financing leases as follows:
Weighted average remaining lease term11.76 years12.37 years
Weighted average discount rate4.56 %4.90 %