Lease Commitments (Tables)

6 Months Ended

Jul. 03, 2022

Leases [Abstract]

Summary of Components of Lease Expense

In accordance with ASC 842, the components of lease expense were as follows:

	13 Weeks Ended				26 Weeks Ended
	July 3, 2022		July 4, 2021		July 3, 2022		July 4, 2021
	(In thousands)
Lease expense:
Operating lease expense	$	20,749	$	20,384	$	41,310	$	40,720
Variable lease expense		4,881		4,711		9,504		9,203
Sublease income		—		—		—		(78	)
Operating lease expense		25,630		25,095		50,814		49,845
Amortization of right-of-use assets		900		720		1,802		1,369
Interest on lease liabilities		67		62		141		121
Finance lease expense		967		782		1,943		1,490
Total lease expense	$	26,597	$	25,877	$	52,757	$	51,335

Schedule of Other Information Related To Leases

In accordance with ASC 842, other information related to leases was as follows:

	26 Weeks Ended
	July 3, 2022			July 4, 2021
	(In thousands)
Operating cash flows from operating leases	$	43,300		$	43,168
Financing cash flows from finance leases		1,899			1,559
Operating cash flows from finance leases		147			134
Cash paid for amounts included in the measurement of lease liabilities	$	45,346		$	44,861
Right-of-use assets obtained in exchange for new finance lease liabilities	$	957		$	4,652
Right-of-use assets obtained in exchange for new operating lease liabilities	$	58,624		$	32,529
Weighted-average remaining lease term—finance leases	3.7 years			3.5 years
Weighted-average remaining lease term—operating leases	5.1 years			4.8 years
Weighted-average discount rate—finance leases		3.1	%		3.4	%
Weighted-average discount rate—operating leases		4.9	%		5.6	%

Schedule of Maturities For Finance And Operating Leases

In accordance with ASC 842, maturities of finance and operating lease liabilities as of July 3, 2022 were as follows:

Year Ending:	Finance Leases			Operating Leases
	(In thousands)
2022 (remaining six months)	$	1,970		$	47,108
2023		2,737			78,567
2024		1,953			71,132
2025		1,470			53,984
2026		1,007			37,950
Thereafter		355			54,535
Undiscounted cash flows	$	9,492		$	343,276
Reconciliation of lease liabilities:
Weighted-average remaining lease term	3.7 years			5.1 years
Weighted-average discount rate		3.1	%		4.9	%
Present values	$	9,017		$	304,636
Lease liabilities - current		3,481			77,421
Lease liabilities - long-term		5,536			227,215
Lease liabilities - total	$	9,017		$	304,636
Difference between undiscounted and discounted cash flows	$	475		$	38,640