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Leases (Tables) | 12 Months Ended
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Mar. 30, 2024
Leases [Abstract] |
Consolidated Statement of Earnings | Amounts recognized in the consolidated statement of operations were as follows:
|  | March 30, 2024 |  |  | March 25, 2023 |  |  | March 26, 2022 |
| (In thousands) |
Fixed operating lease expense |  | $ | 11,874 |  |  | $ | 12,053 |  |  | $ | 12,155 |
Variable operating lease expense (1) |  |  | 5,569 |  |  |  | 5,007 |  |  |  | 3,482 |
Total lease expense |  | $ | 17,443 |  |  | $ | 17,060 |  |  | $ | 15,637 |
(1) | In May 2020, the FASB issued guidance to Topic 842, Leases, exempting lessees from determining whether COVID-19 related rent concessions are lease modifications when certain conditions are met. In accordance with the guidance issued, the Company adopted the amendment effective March 29, 2020 and elected not to treat COVID-19 related rent concessions as lease modifications. As such, for the period ended March 30, 2024, no rent concessions (March 25, 2023 of $0.2 million and March 26, 2022 of $1.5 million) were recognized in the consolidated statement of operations as a negative variable rent expense.
Supplemental Cash Flow Information Operating Lease | The following table provides supplemental cash flow information related to the Company’s operating leases:
|  | March 30, 2024 |  |  | March 25, 2023 |  |  | March 26, 2022 |
| (In thousands) |
Cash outflows from operating activities attributable to operating leases (1) |  | $ | 13,422 |  |  | $ | 14,235 |  |  | $ | 11,954 |
Right-of-use assets obtained in exchange for Operating lease liabilities (2) |  | $ | 1,503 |  |  | $ | 2,579 |  |  | $ | 5,612 |
(1) | There were no rent concessions associated to base rent for the period ended March 30, 2024 . Net of $ 0.2 million and $ 1.5 million rent concessions associated to base rent for the periods ended March 25, 2023 and March 26, 2022, respectively.
(2) | Right-of-use assets obtained are recognized net of leasehold inducements. For the period ending March 30, 2024, leasehold inducements totaled $ 1.7 million of which $ 0.8 million is included in Accounts Receivable and other receivables. For the period ending March 25, 2023, leasehold inducements totaled $ 0.1 million of which $ 0.1 million is included in Accounts Receivable and other receivables .
Consolidated Balance Sheet For Operating Leases And Finance Leases | The following table reconciles the undiscounted cash flows expected to be paid in each of the next five fiscal years and thereafter to the operating lease liability recorded on the Consolidated Balance Sheet for operating leases and finance leases which is included in long-term debt as of March 30, 2024.
|  | Minimum Lease Payments as of March 30, 2024 |
|  | (in thousands) |
Year ending March: |  |  | Operating |
2025 |  |  | 13,189 |
2026 |  |  | 13,499 |
2027 |  |  | 13,144 |
2028 |  |  | 12,388 |
2029 |  |  | 10,799 |
Thereafter |  |  | 46,072 |
Total minimum lease payments |  |  | 109,091 |
Less: amount of total minimum lease payments representing interest |  |  | (42,780 | )
Present value of future total minimum lease payments |  |  | 66,311 |
Less: current portion of lease liabilities |  |  | (6,430 | )
Long-term lease liabilities |  | $ | 59,881 |

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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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