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Leases (Tables)
6 Months Ended
Jul. 13, 2024
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 13, 2024

 

 

July 15, 2023

 

 

July 13, 2024

 

 

July 15, 2023

 

Lease modifications and renewals

 

$

4,171

 

 

$

7,417

 

 

$

20,637

 

 

$

24,765

 

Lease terminations

 

$

221

 

 

$

169

 

 

$

1,551

 

 

$

205

 

 

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 twelve and twenty-eight weeks ended July 13, 2024 and July 15, 2023, respectively, were as follows (amounts in thousands):

 

 

 

For the Twelve Weeks Ended

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 13, 2024

 

 

July 15, 2023

 

 

July 13, 2024

 

 

July 15, 2023

 

Lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

64

 

 

$

393

 

 

$

151

 

 

$

917

 

Interest on lease liabilities

 

 

2

 

 

 

9

 

 

 

4

 

 

 

25

 

Operating lease cost

 

 

16,419

 

 

 

14,497

 

 

 

37,498

 

 

 

33,815

 

Short-term lease cost

 

 

2,724

 

 

 

787

 

 

 

3,427

 

 

 

1,612

 

Variable lease cost

 

 

8,571

 

 

 

8,789

 

 

 

22,348

 

 

 

19,713

 

Total lease cost

 

$

27,780

 

 

$

24,475

 

 

$

63,428

 

 

$

56,082

 

 

 

 

For the Twenty-Eight Weeks Ended

 

 

 

July 13, 2024

 

 

July 15, 2023

 

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

 

 

 

 

 

 

Operating cash flows from financing leases

 

$

4

 

 

$

25

 

Operating cash flows from operating leases

 

$

41,425

 

 

$

36,627

 

Financing cash flows from financing leases

 

$

169

 

 

$

1,052

 

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

 

$

215

 

 

$

 

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

 

$

40,393

 

 

$

25,193

 

Other Supplemental Quantitative Disclosures

Weighted-average remaining lease term (years):

 

 

 

Financing leases

 

 

2.0

 

Operating leases

 

 

6.8

 

Weighted-average IBR (percentage):

 

 

 

Financing leases

 

 

3.6

 

Operating leases

 

 

4.6

 

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 13, 2024 (in thousands) were as follows:

 

 

 

Operating lease
liabilities

 

 

Financing lease
liabilities

 

Remainder of 2024

 

$

31,834

 

 

$

77

 

2025

 

 

74,383

 

 

 

50

 

2026

 

 

55,772

 

 

 

38

 

2027

 

 

47,553

 

 

 

17

 

2028

 

 

33,854

 

 

 

8

 

2029 and thereafter

 

 

112,434

 

 

 

1

 

Total minimum lease payments

 

 

355,830

 

 

 

191

 

Less: amount of lease payments representing interest

 

 

(51,888

)

 

 

(8

)

Present value of future minimum lease payments

 

 

303,942

 

 

 

183

 

Less: current obligations under leases

 

 

(59,975

)

 

 

(164

)

Long-term lease obligations

 

$

243,967

 

 

$

19