Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 29, 2019

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Fair value measurements, recurring and nonrecurring, valuation techniques

Fair value is categorized into one of the following three levels based on the lowest level of significant input:

Level 1	Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2	Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3	Unobservable inputs that cannot be corroborated by observable market data

Property, fixtures and equipment, useful lives

Estimated useful lives by major asset category are generally as follows:

Buildings (1)	5 to 30 years
Furniture and fixtures	5 to 7 years
Equipment	2 to 7 years
Computer equipment and software	3 to 7 years

____________________

(1)

Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:

(dollars in thousands)	DECEMBER 29, 2019			DECEMBER 30, 2018
Land	$	42,570		$	59,973
Buildings	1,202,434			1,188,735
Furniture and fixtures	458,169			428,676
Equipment	665,815			634,459
Construction in progress	24,477			48,949
Less: accumulated depreciation	(1,357,388		)	(1,244,863		)
	$	1,036,077		$	1,115,929

Accounting Standards Update 2016-02 [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Schedule of material reclassification adjustments which impacted Operating lease right-of-use assets

The following table summarizes accounts with material reclassification adjustments which impacted Operating lease right-of-use assets as a part of the adoption of ASU No. 2016-02:

ACCOUNT	CONSOLIDATED BALANCE SHEET CLASSIFICATION UNDER ASC 840
Favorable leases	Intangible assets, net
Deferred rent	Deferred rent
Unfavorable leases	Other long-term liabilities, net
Exit-related lease accruals	Other long-term liabilities, net