XML 56 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 29, 2024
Leases [Abstract]  
Schedule of Assets and Liabilities, Leases
The Company's finance and operating lease assets and liabilities as of December 29, 2024 and December 31, 2023 as follows (in thousands):
December 29, 2024
Finance(1)
Operating(2)
Lease assets, net$5,328 $331,617 
Current portion of lease obligations1,019 50,083 
Long-term portion of lease obligations6,746 345,635 
Total$7,765 $395,718 
December 31, 2023
Finance(1)
Operating(2)
Lease assets, net$6,264 $361,609 
Current portion of lease obligations939 43,819 
Long-term portion of lease obligations7,745 383,439 
Total$8,684 $427,258 
(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 29, 2024 and December 31, 2023 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 29, 2024 and December 31, 2023 Consolidated Balance Sheets.
Schedule of 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 29, 2024December 31, 2023December 25, 2022
Operating lease cost$75,059 $72,346 $69,879 
Finance lease cost:
Amortization of right of use assets(1)
936 985 1,121 
Interest on lease liabilities (2)
438 520 583 
Total finance lease cost$1,374 $1,505 $1,704 
Variable lease cost19,077 19,806 18,965 
Total lease costs$95,510 $93,657 $90,548 
(1) Amortization of finance lease right of use assets is recorded to depreciation and amortization in our Consolidated Statements of Operations and Comprehensive Loss.
(2) Interest on finance lease liabilities is recorded to interest expense in our Consolidated Statements of Operations and Comprehensive Loss.
Schedule of Operating Lease Maturities
Maturities of our lease liabilities as of December 29, 2024 were as follows (in thousands):
Finance Leases Operating Leases
2025$1,432 $82,159 
20261,410 77,652 
20271,340 70,464 
20281,111 62,740 
2029957 53,390 
Thereafter3,175 224,303 
Total future lease liability$9,425 $570,708 
Less imputed interest1,660 174,990 
Present value of lease liability$7,765 $395,718 
Schedule of Finance Lease Maturities
Maturities of our lease liabilities as of December 29, 2024 were as follows (in thousands):
Finance Leases Operating Leases
2025$1,432 $82,159 
20261,410 77,652 
20271,340 70,464 
20281,111 62,740 
2029957 53,390 
Thereafter3,175 224,303 
Total future lease liability$9,425 $570,708 
Less imputed interest1,660 174,990 
Present value of lease liability$7,765 $395,718 
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information in thousands (except other information) related to leases is as follows:
Year Ended
December 29, 2024December 31, 2023December 25, 2022
Cash flows from operating activities
Cash paid related to lease liabilities
Operating leases$83,043 $80,469 $85,400 
Finance leases438 520 583 
Cash flows from financing activities
Cash paid related to lease liabilities
Finance leases923 898 1,292 
Cash paid for amounts included in the measurement of lease liabilities$84,404 $81,887 $87,275 
Right of use assets obtained in exchange for operating lease obligations$26,089 $53,915 $13,848 
Right of use assets obtained in exchange for finance lease obligations$— $81 $1,139 
Other information related to operating leases as follows:
Weighted average remaining lease term8.258.689.04
Weighted average discount rate8.62 %8.15 %7.25 %
Other information related to financing leases as follows:
Weighted average remaining lease term8.479.3410.27
Weighted average discount rate4.85 %4.87 %4.88 %