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Leases (Tables)
9 Months Ended
Oct. 05, 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 Forty Weeks Ended

 

 

 

October 5, 2024

 

 

October 7, 2023

 

 

October 5, 2024

 

 

October 7, 2023

 

Lease modifications and renewals

 

$

7,994

 

 

$

3,820

 

 

$

28,630

 

 

$

28,585

 

Lease terminations

 

$

88

 

 

$

71

 

 

$

1,640

 

 

$

277

 

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 forty weeks ended October 5, 2024 and October 7, 2023, respectively, were as follows (amounts in thousands):

 

 

 

For the Twelve Weeks Ended

 

 

For the Forty Weeks Ended

 

 

 

October 5, 2024

 

 

October 7, 2023

 

 

October 5, 2024

 

 

October 7, 2023

 

Lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

62

 

 

$

396

 

 

$

213

 

 

$

1,313

 

Interest on lease liabilities

 

 

1

 

 

 

5

 

 

 

5

 

 

 

30

 

Operating lease cost

 

 

17,576

 

 

 

14,397

 

 

 

55,074

 

 

 

48,212

 

Short-term lease cost

 

 

2,905

 

 

 

755

 

 

 

6,332

 

 

 

2,367

 

Variable lease cost

 

 

10,246

 

 

 

8,802

 

 

 

32,594

 

 

 

28,515

 

Total lease cost

 

$

30,790

 

 

$

24,355

 

 

$

94,218

 

 

$

80,437

 

 

 

 

For the Forty Weeks Ended

 

 

 

October 5, 2024

 

 

October 7, 2023

 

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

 

 

 

 

 

 

Operating cash flows from financing leases

 

$

5

 

 

$

30

 

Operating cash flows from operating leases

 

$

60,467

 

 

$

52,134

 

Financing cash flows from financing leases

 

$

235

 

 

$

1,513

 

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

 

$

218

 

 

$

21

 

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

 

$

57,098

 

 

$

28,566

 

Other Supplemental Quantitative Disclosures

Weighted-average remaining lease term (years):

 

 

 

Financing leases

 

 

2.4

 

Operating leases

 

 

6.6

 

Weighted-average IBR (percentage):

 

 

 

Financing leases

 

 

3.8

 

Operating leases

 

 

4.7

 

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 October 5, 2024 (in thousands) were as follows:

 

 

 

Operating lease
liabilities

 

 

Financing lease
liabilities

 

Remainder of 2024

 

$

16,683

 

 

$

6

 

2025

 

 

81,631

 

 

 

51

 

2026

 

 

62,744

 

 

 

39

 

2027

 

 

54,415

 

 

 

18

 

2028

 

 

38,981

 

 

 

9

 

2029 and thereafter

 

 

118,108

 

 

 

1

 

Total minimum lease payments

 

 

372,562

 

 

 

124

 

Less: amount of lease payments representing interest

 

 

(56,876

)

 

 

(7

)

Present value of future minimum lease payments

 

 

315,686

 

 

 

117

 

Less: current obligations under leases

 

 

(64,566

)

 

 

(107

)

Long-term lease obligations

 

$

251,120

 

 

$

10