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Leases (Tables)
12 Months Ended
Jan. 01, 2022
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities

At January 1, 2022 and January 2, 2021, the Company’s lease assets and lease liabilities were as follows:

 

 

 

January 1, 2022

 

 

January 2, 2021

 

Assets:

 

 

 

 

 

 

 

 

Operating lease assets

 

$

89,902

 

 

$

119,102

 

Finance lease assets

 

 

127

 

 

 

207

 

Total leased assets

 

$

90,029

 

 

$

119,309

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

 

$

20,297

 

 

$

28,551

 

Finance

 

 

75

 

 

 

88

 

Noncurrent

 

 

 

 

 

 

 

 

Operating

 

$

78,157

 

 

$

101,561

 

Finance

 

 

29

 

 

 

93

 

Total lease liabilities

 

$

98,558

 

 

$

130,293

 

Schedule of Components of Lease Expense

 

 

For the fiscal years ended January 1, 2022, January 2, 2021 and December 28, 2019, the components of the Company’s lease expense were as follows:

 

 

 

Fiscal Year Ended

 

 

 

January 1,

 

 

January 2,

 

 

December 28,

 

 

 

2022

 

 

2021

 

 

2019

 

Operating lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Fixed lease cost

 

$

37,688

 

 

$

48,674

 

 

$

51,246

 

Lease termination cost

 

 

8,542

 

 

 

6,109

 

 

 

10

 

Variable lease cost

 

 

21

 

 

 

(30

)

 

 

 

Total operating lease cost

 

$

46,251

 

 

$

54,753

 

 

$

51,256

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased assets

 

 

151

 

 

 

192

 

 

 

487

 

Interest on lease liabilities

 

 

8

 

 

 

12

 

 

 

20

 

Total finance lease cost

 

$

159

 

 

$

204

 

 

$

507

 

Total lease cost

 

$

46,410

 

 

$

54,957

 

 

$

51,763

 

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

At January 1, 2022 and January 2, 2021, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:

 

 

 

January 1, 2022

 

 

January 2, 2021

 

Weighted Average Remaining Lease Term (years)

 

 

 

 

 

 

 

 

Operating leases

 

 

7.29

 

 

 

7.08

 

Finance leases

 

 

1.54

 

 

 

2.35

 

 

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

 

 

Operating leases

 

 

7.15

 

 

 

6.95

 

Finance leases

 

 

5.31

 

 

 

5.51

 

Schedule of Maturity of Lease Liabilities

At January 1, 2022, 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 2022

$

26,611

 

 

$

79

 

 

$

26,690

 

Fiscal 2023

 

20,594

 

 

 

25

 

 

 

20,619

 

Fiscal 2024

 

15,708

 

 

 

5

 

 

 

15,713

 

Fiscal 2025

 

11,547

 

 

 

 

 

 

11,547

 

Fiscal 2026

 

9,195

 

 

 

 

 

 

9,195

 

Thereafter

 

45,345

 

 

 

 

 

 

45,345

 

Total lease payments

$

129,000

 

 

$

109

 

 

$

129,109

 

Less imputed interest

 

30,546

 

 

 

5

 

 

 

30,551

 

Present value of lease liabilities

$

98,454

 

 

$

104

 

 

$

98,558

 

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the fiscal years ended January 1, 2022, January 2, 2021 and December 28, 2019 were as follows:

 

 

Fiscal Year Ended

 

 

 

January 1,

 

 

January 2,

 

 

December 28,

 

 

 

2022

 

 

2021

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

39,747

 

 

$

49,043

 

 

$

51,326

 

Operating cash flows from finance leases

 

$

8

 

 

$

12

 

 

$

20

 

Financing cash flows from finance leases

 

$

151

 

 

$

192

 

 

$

487

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leased assets obtained in exchange for new operating lease liabilities

 

$

1,057

 

 

$

5,113

 

 

$

41,693

 

Leased assets obtained in exchange for new finance lease liabilities

 

$

81

 

 

$

132

 

 

$

105