Leases

12 Months Ended

Dec. 26, 2021

Leases

The Company's finance and operating lease assets and liabilities as of December 26, 2021 and December 27, 2020 as follows (in thousands):


December 26, 2021	Finance(1)		Operating(2)
Lease assets, net(3)	$	9,664	$	400,825

Current portion of lease obligations	1,194		48,842
Long-term portion of lease obligations	10,765		435,136
Total	$	11,959	$	483,978

(1) Finance lease assets and obligations are included in Other assets, net, Accrued liabilities and other current liabilities, and Other non-current liabilities on our December 26, 2021 and December 27, 2020 Consolidated Balance Sheets.

(2) Operating lease assets and obligations are included in Operating lease assets, net, Current portion of operating lease liabilities, and Long-term portion of operating lease liabilities on our December 26, 2021 and December 27, 2020 Consolidated Balance Sheets.

(3) The Lease assets, net caption includes the right of use assets associated with the Company's Finance and Operating leases, net of the associated amortization of these right of use assets.


December 27, 2020	Finance(1)		Operating(2)
Lease assets, net(3)	$	9,644	$	415,929

Current portion of lease obligations	1,078		54,197
Long-term portion of lease obligations	10,937		454,296
Total	$	12,015	$	508,493

(3) The Lease assets, net caption includes the right of use assets associated with the Company's Finance and Operating leases, net of the associated amortization of these right of use assets.

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 26, 2021		December 27, 2020		December 29, 2019
Operating lease cost	$	70,000	$	67,320	$	75,496
Finance lease cost:
Amortization of right of use assets	856		845		793
Interest on lease liabilities (4)	532		534		544
Total finance lease cost	$	1,388	$	1,379	$	1,337
Variable lease cost	19,812		24,482		29,300
Total lease costs	$	91,200	$	93,181	$	106,133

(4) Interest on finance lease liabilities is recorded to interest expense in our consolidated statements of operations and comprehensive loss.

Maturities of our lease liabilities as of December 26, 2021 were as follows (in thousands):


	Finance Leases		Operating Leases
2022	$	1,716	$	80,361
2023	1,244		76,626
2024	1,264		74,898
2025	1,283		70,282
2026	1,345		64,153
Thereafter	8,169		314,998
Total future lease liability	$	15,021	$	681,318
Less imputed interest	3,062		197,340
Present value of lease liability	$	11,959	$	483,978

Supplemental cash flow information in thousands (except other information) related to leases is as follows:


	Year Ended
	December 26, 2021			December 27, 2020			December 29, 2019
Cash flows from operating activities
Cash paid related to lease liabilities
Operating leases	$	81,520		$	47,164		$	78,260
Finance leases	532			534			512
Cash flows from financing activities
Cash paid related to lease liabilities
Finance leases	1,733			270			817
Cash paid for amounts included in the measurement of lease liabilities	$	83,785		$	47,968		$	79,589

Right of use assets obtained in exchange for operating lease obligations	$	28,738		$	56,014		$	12,580
Right of use assets obtained in exchange for finance lease obligations	$	1,170		$	2,918		$	1,606

Other information related to operating leases as follows:
Weighted average remaining lease term	9.69 years			10.24 years			10.70 years
Weighted average discount rate	7.05		%	6.90		%	7.38		%

Other information related to financing leases as follows:
Weighted average remaining lease term	10.81 years			11.76 years			12.37 years
Weighted average discount rate	4.56		%	4.56		%	4.90		%