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Leases (Tables)
12 Months Ended
Dec. 30, 2023
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities

At December 30, 2023 and December 31, 2022, the Company’s lease assets and lease liabilities were as follows:

 

 

December 30, 2023

 

 

December 31, 2022

 

Assets:

 

 

 

 

 

 

Operating leases

 

$

52,272

 

 

$

75,696

 

Finance leases

 

 

5

 

 

 

54

 

Total lease assets

 

$

52,277

 

 

$

75,750

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating leases

 

$

9,613

 

 

$

17,955

 

Finance leases

 

 

4

 

 

 

31

 

Noncurrent

 

 

 

 

 

 

Operating leases

 

 

53,461

 

 

 

68,099

 

Finance leases

 

 

 

 

 

7

 

Total lease liabilities

 

$

63,078

 

 

$

86,092

 

Schedule of Components of Lease Expense

For the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, the components of the Company’s lease expense were as follows:

 

 

Fiscal Year Ended

 

 

 

December 30,

 

 

December 31,

 

 

January 1,

 

 

 

2023

 

 

2022

 

 

2022

 

Operating lease cost:

 

 

 

 

 

 

 

 

 

Fixed lease cost

 

$

21,259

 

 

$

33,227

 

 

$

37,688

 

Lease termination cost

 

 

12,718

 

 

 

2,726

 

 

 

8,542

 

Variable lease cost

 

 

62

 

 

 

27

 

 

 

21

 

Total operating lease cost

 

$

34,039

 

 

$

35,980

 

 

$

46,251

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of leased assets

 

$

48

 

 

$

112

 

 

$

151

 

Interest on lease liabilities

 

 

1

 

 

 

6

 

 

 

8

 

Total finance lease cost

 

$

49

 

 

$

118

 

 

$

159

 

Total lease cost

 

$

34,088

 

 

$

36,098

 

 

$

46,410

 

Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates

At December 30, 2023 and December 31, 2022, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:

 

 

December 30, 2023

 

 

December 31, 2022

 

Weighted Average Remaining Lease Term (years)

 

 

 

 

 

 

Operating leases

 

 

7.31

 

 

 

6.90

 

Finance leases

 

 

0.48

 

 

 

1.00

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

7.54

 

 

 

7.03

 

Finance leases

 

 

4.10

 

 

 

3.52

 

 

Schedule of Maturity of Lease Liabilities

At December 30, 2023, the maturity of the Company’s lease liabilities in each of the next five fiscal years and thereafter were as follows:

 

Operating
Leases

 

 

Finance
Leases

 

 

Total

 

Fiscal 2024

$

14,031

 

 

$

4

 

 

$

14,035

 

Fiscal 2025

 

12,852

 

 

 

 

 

 

12,852

 

Fiscal 2026

 

10,130

 

 

 

 

 

 

10,130

 

Fiscal 2027

 

9,391

 

 

 

 

 

 

9,391

 

Fiscal 2028

 

9,042

 

 

 

 

 

 

9,042

 

Thereafter

 

26,811

 

 

 

 

 

 

26,811

 

Total lease payments

$

82,257

 

 

$

4

 

 

$

82,261

 

Less imputed interest

 

19,183

 

 

 

0

 

 

 

19,183

 

Present value of lease liabilities

$

63,074

 

 

$

4

 

 

$

63,078

 

 

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022 were as follows:

 

 

Fiscal Year Ended

 

 

 

December 30,

 

 

December 31,

 

 

January 1,

 

 

 

2023

 

 

2022

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

22,013

 

 

$

31,580

 

 

$

39,747

 

Operating cash flows from finance leases

 

$

1

 

 

$

6

 

 

$

8

 

Financing cash flows from finance leases

 

$

48

 

 

$

112

 

 

$

151

 

 

 

 

 

 

 

 

 

 

 

Lease assets (modified) obtained in exchange for (modified) new operating lease liabilities

 

$

(7,086

)

 

$

13,297

 

 

$

1,057

 

Lease assets obtained in exchange for new finance lease liabilities

 

$

 

 

$

49

 

 

$

81