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Note 11 - Leases | 6 Months Ended
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Mar. 26, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
Note 11. | Leases
The Company determines if a contract contains a lease at inception. The Company’s material long-term operating lease agreements are for the land and buildings for our restaurants as well as our corporate office. The initial lease terms range from 10 years to 20 years, most of which include renewal options of 10 to 15 years. Components of operating lease costs are as follows for the fiscal quarters ended March 26, 2024 and March 28, 2023:
Lease cost |  | Classification |  | March 26, 2024 |  |  | March 28, 2023 |
Operating lease cost |  | Occupancy, Other restaurant operating costs and General and administrative expenses, net |  | $ | 1,908 |  |  | $ | 1,853 |
Variable lease cost |  | Occupancy |  |  | 10 |  |  |  | - |
Sublease income |  | Occupancy |  |  | (125 | ) |  |  | (143 | )
|  |  |  | $ | 1,793 |  |  | $ | 1,710 |
Weighted average lease term and discount rate are as follows:
|  | March 26, 2024 |  |  | March 28, 2023 |
Weighted average remaining lease term (in years) |  |  | 7.54 |  |  |  | 8.24 |
Weighted average discount rate |  |  | 5.0 | % |  |  | 5.0 | %
Supplemental cash flow disclosures:
|  | March 26, 2024 |  |  | March 28, 2023 |
Cash paid for operating lease liabilities |  | $ | 3,865 |  |  | $ | 3,734 |
Non-cash operating lease assets obtained in exchange for operating lease liabilities |  | $ | 452 |  |  | $ | 184 |
Future minimum rent payments for our operating leases as of March 26, 2024 are as follows:
|  | Total |
One Year |  | $ | 8,299 |
Two Years |  |  | 8,094 |
Three Years |  |  | 7,706 |
Four Years |  |  | 7,291 |
Five Years |  |  | 6,067 |
Thereafter |  |  | 18,077 |
Total minimum lease payments |  |  | 55,534 |
Less: imputed interest |  |  | (9,581 | )
Present value of lease liabilities |  | $ | 45,953 |
The above future minimum rental amounts exclude the amortization of deferred lease incentives, renewal options that are not reasonably assured of renewal, and contingent rent. The Company generally has escalating rents over the term of the leases and records rent expense on a straight-line basis.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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