Leases Leases (Tables)

6 Months Ended

Jun. 26, 2019

The following table presents the Company’s total lease cost, disaggregated by underlying asset (in thousands):



	Thirteen Weeks Ended June 26, 2019					Twenty-Six Weeks Ended June 26, 2019
	Property Leases		Equipment Leases	Total		Property Leases		Equipment Leases	Total
Finance lease cost:
Amortization of right-of-use assets	3		—	3		9		—	9
Interest on lease liabilities	7		—	7		15		—	15
Operating lease cost	6,585		327	6,912		13,187		654	13,841
Short-term lease cost	—		9	9		—		17	17
Variable lease cost	127		27	154		224		98	322
Sublease income	(511	)	—	(511	)	(901	)	—	(901	)
Total lease cost	6,211		363	6,574		12,534		769	13,303

The following table presents the Company’s total lease cost on the Condensed Consolidated Statement of Income (in thousands):



	Thirteen Weeks Ended June 26, 2019	Twenty-Six Weeks Ended June 26, 2019
Lease cost – Occupancy and other operating expenses	6,256	12,659
Lease cost – General & administrative	114	233
Lease cost – Depreciation and amortization	3	9
Lease cost – Interest expense	7	15
Lease cost - Closed-store reserve	194	387
Total lease cost	6,574	13,303

During the twenty-six weeks ended June 26, 2019, the Company had the following cash and non-cash activities associated with its leases (in thousands):



	Twenty-Six Weeks Ended June 26, 2019
	Property Leases		Equipment Leases		Total

Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	12,361		654		13,015
Financing cash flows used for finance leases	53		—		53

Non-cash investing and financing activities:
Operating lease ROU Assets obtained in exchange for lease liabilities:
Operating lease ROU Assets	4,995		—		4,995

Operating lease ROU Assets obtained and liabilities incurred as a result of adoption of ASC 842:
Operating lease ROU Assets	200,555		4,668		205,223
Operating lease liabilities	217,615		4,668		222,283

Other Information
Weighted-average remaining lease term—finance leases	3.33		—
Weighted-average remaining lease term—operating leases	12.23		3.55
Weighted-average discount rate—finance leases	11.1	%	—
Weighted-average discount rate—operating leases	4.38	%	3.98	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Information regarding the Company’s minimum future lease obligations as of June 26, 2019 is as follows (in thousands):



	Finance			Operating Leases
For the Years Ending	Minimum Lease Payments			Minimum Lease Payments			Minimum Sublease Income
December 25, 2019	$	27		$	13,263		$	695
December 30, 2020	54			26,387			1,108
December 29, 2021	54			26,050			1,078
December 28, 2022	45			25,043			1,001
December 28, 2023	—			22,634			989
Thereafter	—			154,940			2,612
Total	$	180		$	268,317		$	7,483
Less: imputed interest (3.96% to 11.1%)	(49		)	(50,978		)
Present value of lease obligations	131			217,339
Less: current maturities	(31		)	(18,727		)
Noncurrent portion	$	100		$	198,612

Information regarding the Company’s minimum future lease obligations at December 26, 2018 is as follows, under ASC 840 (in thousands):



	Capital Leases			Operating Leases
For the Years Ending	Minimum Lease Payments			Minimum Lease Payments		Minimum Sublease Income
December 25, 2019	$	95		$	25,388	$	1,443
December 30, 2020	54			24,437		1,108
December 29, 2021	54			23,342		1,078
December 28, 2022	45			22,338		1,001
December 28, 2023	—			20,634		989
Thereafter	—			150,342		2,612
Total	$	248		$	266,481	$	8,231
Less: imputed interest (11.0% to 11.1%)	(64		)
Present value of capital lease obligations	184
Less: current maturities	(68		)
Noncurrent portion	$	116

Finance Lease, Liability, Maturity [Table Text Block]

Information regarding the Company’s minimum future lease obligations as of June 26, 2019 is as follows (in thousands):



	Finance			Operating Leases
For the Years Ending	Minimum Lease Payments			Minimum Lease Payments			Minimum Sublease Income
December 25, 2019	$	27		$	13,263		$	695
December 30, 2020	54			26,387			1,108
December 29, 2021	54			26,050			1,078
December 28, 2022	45			25,043			1,001
December 28, 2023	—			22,634			989
Thereafter	—			154,940			2,612
Total	$	180		$	268,317		$	7,483
Less: imputed interest (3.96% to 11.1%)	(49		)	(50,978		)
Present value of lease obligations	131			217,339
Less: current maturities	(31		)	(18,727		)
Noncurrent portion	$	100		$	198,612

Information regarding the Company’s minimum future lease obligations at December 26, 2018 is as follows, under ASC 840 (in thousands):



	Capital Leases			Operating Leases
For the Years Ending	Minimum Lease Payments			Minimum Lease Payments		Minimum Sublease Income
December 25, 2019	$	95		$	25,388	$	1,443
December 30, 2020	54			24,437		1,108
December 29, 2021	54			23,342		1,078
December 28, 2022	45			22,338		1,001
December 28, 2023	—			20,634		989
Thereafter	—			150,342		2,612
Total	$	248		$	266,481	$	8,231
Less: imputed interest (11.0% to 11.1%)	(64		)
Present value of capital lease obligations	184
Less: current maturities	(68		)
Noncurrent portion	$	116