XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.25.1

Restructuring and Asset Impairment | 4 Months Ended
--- | ---
Apr. 19, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Asset Impairment | Note 6 – Restructuring and Asset Impairment The following table provides the activity of reserves for closed properties for the 16-week period ended April 19, 2025. Included in the liability are lease-related ancillary costs from the date of closure to the end of the remaining lease term, as well as related severance. Reserves for closed properties recorded in the condensed consolidated balance sheets are included in "Other accrued expenses" in Current liabilities and "Other long-term liabilities" in Long-term liabilities based on the timing of when the obligations are expected to be paid. Reserves for severance are recorded in "Accrued payroll and benefits".
|  | Reserves for Closed Properties |
(In thousands) |  | Lease Ancillary Costs |  |  | Severance |  |  | Total |
Balance at December 28, 2024 |  | $ |  | 6,043 |  |  | $ |  | 11 |  |  | $ |  | 6,054 |
Provision for closing charges |  |  |  | 2,605 |  |  |  |  | — |  |  |  |  | 2,605 |
Lease termination adjustments |  |  |  | (3,497 | ) |  |  |  | — |  |  |  |  | (3,497 | )
Changes in estimates |  |  |  | (33 | ) |  |  |  | — |  |  |  |  | (33 | )
Accretion expense |  |  |  | 85 |  |  |  |  | — |  |  |  |  | 85 |
Payments |  |  |  | (804 | ) |  |  |  | (11 | ) |  |  |  | (815 | )
Balance at April 19, 2025 |  | $ |  | 4,399 |  |  | $ |  | — |  |  | $ |  | 4,399 |
Restructuring and asset impairment, net in the condensed consolidated statements of earnings consisted of the following:
| 16 Weeks Ended |
(In thousands) | April 19, 2025 |  |  | April 20, 2024 |
Asset impairment charges (a) | $ |  | 153 |  |  | $ |  | 6,121 |
(Gain) loss on sales of assets related to closed facilities |  |  | (140 | ) |  |  |  | 51 |
Provision for closing charges (b) |  |  | 2,605 |  |  |  |  | — |
Other costs (income) associated with site closures (c) |  |  | 1,054 |  |  |  |  | (254 | )
Lease termination adjustments (d) |  |  | (4,007 | ) |  |  |  | (150 | )
Changes in estimates |  |  | (33 | ) |  |  |  | — |
Total | $ |  | (368 | ) |  | $ |  | 5,768 |
(a) Asset impairment charges in the current year and prior year were incurred on long-lived assets in the Retail segment due to changes in the competitive environment. (b) Provision for closing charges in the current year relate to the closure of four stores within the Retail segment. (c) Other costs activity in the current year primarily relates to site closures within both segments. (d) Lease termination adjustments in the current year relate to gains recognized to terminate a lease agreement, which included the write-off of the lease liability totaling $0.5 million and the write-off of ancillary lease costs included in the reserve for closed properties totaling $3.5 million. Long-lived assets which are not recoverable are measured at fair value on a nonrecurring basis using Level 3 inputs under the fair value hierarchy, as further described in Note 7. Long-lived assets with a book value of $0.2 million and $6.1 million were fully impaired in the current year and prior year, respectively. The fair value of long-lived assets is determined by estimating the amount and timing of net future cash flows, including the expected proceeds from the sale of assets and expected insurance recoveries, discounted using a risk-adjusted rate of interest. The Company estimates future cash flows based on historical results of operations, external factors expected to impact future performance, experience and knowledge of the geographic area in which the assets are located, and when necessary, uses the support of real estate brokers.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration