Lease Commitments

12 Months Ended

Dec. 28, 2024

Lease Commitments

Lease Commitments

Note 5    Lease Commitments

The following is a schedule of the lease costs included in “Operating, general and administrative expenses” for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022.

	52 Weeks Ended		52 Weeks Ended		53 Weeks Ended
(amounts in thousands)		December 28, 2024		December 30, 2023		December 31, 2022
Operating lease cost	$	46,179	$	47,187	$	48,289
Variable lease cost		11,079		11,335		11,221
Lease or sublease income		(10,572)		(10,210)		(9,744)
Net lease cost	$	46,686	$	48,312	$	49,766

The following is a schedule by year of the future minimum rental payments required under operating leases and total minimum sublease and lease rental income to be received as of December 28, 2024.

(amounts in thousands)	Leases			Subleases
2025	$	47,184	$	(5,655)
2026		41,863		(4,630)
2027		34,476		(3,658)
2028		27,053		(2,392)
2029		18,760		(1,456)
Thereafter		33,660		(2,037)
Total Lease Payments	$	202,996	$	(19,827)
Less: Interest		29,533		-
Present value of lease liabilities		173,463		(19,827)

Note 5    Lease Commitments (continued)

The following is a schedule of weighted-average remaining lease terms and weighted-average discount rates as of December 28, 2024, December 30, 2023, and December 31, 2022.

Lease Term and Discount Rate	December 28, 2024	December 30, 2023	December 31, 2022
Weighted-average remaining lease term	3.56	3.63	3.85
Weighted-average discount rate	4.08%	3.43%	2.81%

The following is a schedule of supplemental cash flow information related to leases as of December 28, 2024, December 30, 2023, and December 31, 2022.

(amounts in thousands)	December 28, 2024	December 30, 2023	December 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	47,203	48,476	48,744
Right of use assets obtained in exchange for operating lease liabilities	40,163	39,928	27,364