XML 38 R27.htm IDEA: XBRL DOCUMENT

Leases (Tables)

6 Months Ended

Jun. 16, 2020

Schedule of Lease Cost, Remaining Lease Term, Discount Rate and Supplemental Cash Flow Information

The components of lease cost for the twelve and twenty-four weeks ended June 16, 2020 were as follows (in thousands):


	Classification	Twelve Weeks Ended June 16, 2020		Twenty-Four Weeks Ended June 16, 2020
Operating lease cost	Occupancy and other operating expenses, Occupancy and other - franchise subleases and other, Pre-opening costs, Restaurant closure charges, net and General and administrative	$	9,363	$	18,809
Finance lease cost:
Amortization of right of use assets	Depreciation and amortization	35		90
Interest on lease liabilities	Interest expense	6		18
Short-term lease cost	Occupancy and other operating expenses	95		167
Variable lease cost	Occupancy and other operating expenses, Occupancy and other - franchise subleases and other and Restaurant closure charges, net	334		657
Sublease income	Franchise sublease and other income	(1,690)		(3,272)
Total lease cost		$	8,143	$	16,469

The components of lease cost for the twelve and twenty-four weeks ended June 18, 2019 were as follows (in thousands):


	Classification	Twelve Weeks Ended June 18, 2019		Twenty-Four Weeks Ended June 18, 2019
Operating lease cost	Occupancy and other operating expenses, Occupancy and other - franchise subleases and other, Pre-opening costs, Restaurant closure charges, net and General and administrative	$	8,733	$	17,404
Finance lease cost:
Amortization of right of use assets	Depreciation and amortization	110		243
Interest on lease liabilities	Interest expense	24		51
Short-term lease cost	Occupancy and other operating expenses	77		178
Variable lease cost	Occupancy and other operating expenses, Occupancy and other - franchise subleases and other and Restaurant closure charges, net	448		838
Sublease income	Franchise sublease and other income	(1,134)		(2,136)
Total lease cost		$	8,258	$	16,578


Weighted Average Remaining Lease Term (in years)						June 16, 2020
Operating leases						12.6
Finance leases						2.2


Weighted Average Discount Rate	June 16, 2020
Operating leases	6.58	%
Finance leases	10.46	%

Supplemental cash flow information related to leases was as follows (in thousands):


	Twenty-Four Weeks Ended June 16, 2020		Twenty-Four Weeks Ended June 18, 2019
Cash paid for amounts in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	15,749	$	14,238
Operating cash flows used for finance leases	$	18	$	51
Financing cash flows used for finance leases	$	87	$	243

Schedule of Supplemental Balance Sheet Information

Supplemental balance sheet information related to the Company's operating and finance leases (noting the financial statement caption each is included with) as of June 16, 2020 and December 31, 2019 was as follows (in thousands):


	June 16, 2020		December 31, 2019
Operating lease assets:
Operating lease right-of-use assets	$	253,180	$	258,278
Operating lease liabilities:
Current portion of operating lease liabilities	$	20,667	$	17,848
Operating lease liabilities, excluding current portion	256,277		257,361
Total operating lease liabilities	$	276,944	$	275,209

Finance lease assets:
Buildings under finance leases	$	441	$	871
Accumulated depreciation	(208)		(334)
Finance lease assets, net	$	233	$	537
Finance lease obligations:
Current portion of finance lease obligations and other debt	$	138	$	162
Long-term debt, finance lease obligations and other debt, excluding current portion, net	105		412
Total finance lease obligations	$	243	$	574

Schedule of Estimated Future Minimum Finance Lease Payments

The estimated future lease payments as of June 16, 2020, are as follows (in thousands):


	Finance Lease Liabilities		Operating Lease Liabilities		Operating Subleases		Net Lease Commitments
2020	$	78	$	19,768	$	(3,176)	$	16,670
2021	138		39,015		(6,247)		32,906
2022	19		40,753		(6,802)		33,970
2023	17		35,666		(6,120)		29,563
2024	16		29,936		(5,463)		24,489
Thereafter	4		251,138		(60,760)		190,382
Total lease payments	$	272	$	416,276	$	(88,568)	$	327,980
Amounts representing interest	(29)		(139,332)				(139,361)
Present value of lease obligations	$	243	$	276,944			$	188,619

Schedule of Estimated Future Minimum Operating Lease Payment

The estimated future lease payments as of June 16, 2020, are as follows (in thousands):


	Finance Lease Liabilities		Operating Lease Liabilities		Operating Subleases		Net Lease Commitments
2020	$	78	$	19,768	$	(3,176)	$	16,670
2021	138		39,015		(6,247)		32,906
2022	19		40,753		(6,802)		33,970
2023	17		35,666		(6,120)		29,563
2024	16		29,936		(5,463)		24,489
Thereafter	4		251,138		(60,760)		190,382
Total lease payments	$	272	$	416,276	$	(88,568)	$	327,980
Amounts representing interest	(29)		(139,332)				(139,361)
Present value of lease obligations	$	243	$	276,944			$	188,619

Schedule of Minimum Rental Commitments

The estimated future lease payments as of June 16, 2020, are as follows (in thousands):


	Finance Lease Liabilities		Operating Lease Liabilities		Operating Subleases		Net Lease Commitments
2020	$	78	$	19,768	$	(3,176)	$	16,670
2021	138		39,015		(6,247)		32,906
2022	19		40,753		(6,802)		33,970
2023	17		35,666		(6,120)		29,563
2024	16		29,936		(5,463)		24,489
Thereafter	4		251,138		(60,760)		190,382
Total lease payments	$	272	$	416,276	$	(88,568)	$	327,980
Amounts representing interest	(29)		(139,332)				(139,361)
Present value of lease obligations	$	243	$	276,944			$	188,619

Schedule of Sublease Minimum Rental Receipts

The estimated future lease payments as of June 16, 2020, are as follows (in thousands):


	Finance Lease Liabilities		Operating Lease Liabilities		Operating Subleases		Net Lease Commitments
2020	$	78	$	19,768	$	(3,176)	$	16,670
2021	138		39,015		(6,247)		32,906
2022	19		40,753		(6,802)		33,970
2023	17		35,666		(6,120)		29,563
2024	16		29,936		(5,463)		24,489
Thereafter	4		251,138		(60,760)		190,382
Total lease payments	$	272	$	416,276	$	(88,568)	$	327,980
Amounts representing interest	(29)		(139,332)				(139,361)
Present value of lease obligations	$	243	$	276,944			$	188,619