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Leases (Tables)
4 Months Ended
Apr. 23, 2022
Leases [Abstract]  
Lease Modifications and Renewals and Lease Terminations

The following table details lease modifications and renewals and lease terminations (amounts in thousands):

 

 

 

For the Sixteen Weeks Ended

 

 

 

April 23, 2022

 

 

April 24, 2021

 

Lease modifications and renewals

 

$

13,815

 

 

$

34,325

 

Lease terminations

 

$

1,024

 

 

$

317

 

Lease Costs Incurred By Lease Type, and/or Type Of Payment

Lease costs incurred by lease type, and/or type of payment, and other supplemental quantitative disclosures as of and for the sixteen weeks ended April 23, 2022 and April 24, 2021 were as follows (amounts in thousands):

 

 

 

For the Sixteen Weeks Ended

 

 

 

April 23, 2022

 

 

April 24, 2021

 

Lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

524

 

 

$

542

 

Interest on lease liabilities

 

 

35

 

 

 

54

 

Operating lease cost

 

 

19,648

 

 

 

21,433

 

Short-term lease cost

 

 

698

 

 

 

951

 

Variable lease cost

 

 

9,638

 

 

 

6,886

 

Total lease cost

 

$

30,543

 

 

$

29,866

 

Other Supplemental Quantitative Disclosures

 

 

For the Sixteen Weeks Ended

 

 

 

April 23, 2022

 

 

April 24, 2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from financing leases

 

$

35

 

 

$

54

 

Operating cash flows from operating leases

 

$

16,400

 

 

$

18,348

 

Financing cash flows from financing leases

 

$

426

 

 

$

423

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

14,834

 

 

$

34,554

 

 

 

Weighted-average remaining lease term (years):

 

 

 

Financing leases

 

 

1.8

 

Operating leases

 

 

8.2

 

Weighted-average IBR (percentage):

 

 

 

Financing leases

 

 

3.5

 

Operating leases

 

 

3.7

 

Estimated Undiscounted Future Lease Payments Under Non-Cancelable Operating Leases and Financing Leases with Reconciliation of Undiscounted Cash Flows

Estimated undiscounted future lease payments under non-cancelable operating leases and financing leases, along with a reconciliation of the undiscounted cash flows to operating and financing lease liabilities, respectively, as of April 23, 2022 (in thousands) were as follows:

 

 

 

Operating lease
liabilities

 

 

Financing lease
liabilities

 

Remainder of 2022

 

$

42,032

 

 

$

1,229

 

2023

 

 

56,881

 

 

 

1,828

 

2024

 

 

48,232

 

 

 

100

 

2025

 

 

45,263

 

 

 

 

2026

 

 

30,790

 

 

 

 

2027 and thereafter

 

 

136,463

 

 

 

 

Total minimum lease payments

 

 

359,661

 

 

 

3,157

 

Less: amount of lease payments representing interest

 

 

(58,010

)

 

 

(91

)

Present value of future minimum lease payments

 

 

301,651

 

 

 

3,066

 

Less: current obligations under leases

 

 

(50,740

)

 

 

(1,752

)

Long-term lease obligations

 

$

250,911

 

 

$

1,314