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Leases (Tables)
6 Months Ended
Jul. 16, 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 Twelve Weeks Ended

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 16, 2022

 

 

July 17, 2021

 

 

July 16, 2022

 

 

July 17, 2021

 

Lease modifications and renewals

 

$

4,839

 

 

$

3,377

 

 

$

18,654

 

 

$

37,702

 

Lease terminations

 

$

4,704

 

 

$

2,337

 

 

$

5,728

 

 

$

2,654

 

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 twenty-eight weeks ended July 16, 2022 and July 17, 2021 were as follows (amounts in thousands):

 

 

 

For the Twelve Weeks Ended

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 16, 2022

 

 

July 17, 2021

 

 

July 16, 2022

 

 

July 17, 2021

 

Lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

393

 

 

$

409

 

 

$

917

 

 

$

951

 

Interest on lease liabilities

 

 

22

 

 

 

38

 

 

 

57

 

 

 

92

 

Operating lease cost

 

 

14,631

 

 

 

16,263

 

 

 

34,279

 

 

 

37,696

 

Short-term lease cost

 

 

675

 

 

 

550

 

 

 

1,373

 

 

 

1,501

 

Variable lease cost

 

 

8,223

 

 

 

6,066

 

 

 

17,861

 

 

 

12,952

 

Total lease cost

 

$

23,944

 

 

$

23,326

 

 

$

54,487

 

 

$

53,192

 

Other Supplemental Quantitative Disclosures

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 16, 2022

 

 

July 17, 2021

 

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

 

 

 

 

 

 

Operating cash flows from financing leases

 

$

57

 

 

$

92

 

Operating cash flows from operating leases

 

$

32,101

 

 

$

35,710

 

Financing cash flows from financing leases

 

$

864

 

 

$

866

 

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

 

$

 

 

$

37

 

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

 

$

16,217

 

 

$

41,796

 

 

Weighted-average remaining lease term (years):

 

 

 

Financing leases

 

 

1.6

 

Operating leases

 

 

8.2

 

Weighted-average IBR (percentage):

 

 

 

Financing leases

 

 

3.5

 

Operating leases

 

 

3.8

 

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 July 16, 2022 (in thousands) were as follows:

 

 

 

Operating lease
liabilities

 

 

Financing lease
liabilities

 

Remainder of 2022

 

$

25,445

 

 

$

768

 

2023

 

 

55,292

 

 

 

1,828

 

2024

 

 

49,191

 

 

 

100

 

2025

 

 

46,265

 

 

 

 

2026

 

 

31,775

 

 

 

 

2027 and thereafter

 

 

137,694

 

 

 

 

Total minimum lease payments

 

 

345,662

 

 

 

2,696

 

Less: amount of lease payments representing interest

 

 

(55,642

)

 

 

(68

)

Present value of future minimum lease payments

 

 

290,020

 

 

 

2,628

 

Less: current obligations under leases

 

 

(47,631

)

 

 

(1,766

)

Long-term lease obligations

 

$

242,389

 

 

$

862