Leases Leases (Tables)

6 Months Ended

Jun. 24, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

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

	Thirteen Weeks Ended
	June 24, 2020						June 26, 2019
	Property		Equipment				Property		Equipment
	Leases		Leases		Total		Leases		Leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	—	$	—	$	—	$	3	$	—	$	3
Interest on lease liabilities		5		—		5		7		—		7
Operating lease cost		6,545		307		6,852		6,585		327		6,912
Short-term lease cost		—		5		5		—		9		9
Variable lease cost		105		45		150		127		27		154
Sublease income		(763)		—		(763)		(511)		—		(511)
Total lease cost	$	5,892	$	357	$	6,249	$	6,211	$	363	$	6,574

	Twenty-Six Weeks Ended
	June 24, 2020						June 26, 2019
	Property		Equipment				Property		Equipment
	Leases		Leases		Total		Leases		Leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	—	$	—	$	—	$	9	$	—	$	9
Interest on lease liabilities		11		—		11		15		—		15
Operating lease cost		13,075		614		13,689		13,187		654		13,841
Short-term lease cost		—		12		12		—		17		17
Variable lease cost		209		70		279		224		98		322
Sublease income		(1,541)		—		(1,541)		(901)		—		(901)
Total lease cost	$	11,754	$	696	$	12,450	$	12,534	$	769	$	13,303

The following table presents the Company’s total lease cost on the condensed consolidated statements of income (in thousands):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	June 24, 2020		June 26, 2019		June 24, 2020		June 26, 2019
Lease cost – Occupancy and other operating expenses	$	5,917	$	6,256	$	11,796	$	12,659
Lease cost – General & administrative		119		114		230		233
Lease cost – Depreciation and amortization		6		3		11		9
Lease cost – Interest expense				7		—		15
Lease cost - Closed-store reserve		207		194		413		387
Total lease cost	$	6,249	$	6,574	$	12,450	$	13,303

During the twenty-six weeks ended June 24, 2020 and June 26, 2019, the Company had the following cash and non-cash activities associated with its leases (in thousands):

	Twenty-Six Weeks Ended June 24, 2020								Twenty-Six Weeks Ended June 26, 2019
	Property			Equipment					Property			Equipment
	Leases			Leases			Total		Leases			Leases			Total
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	9,269		$	619		$	9,888	$	12,361		$	654		$	13,015
Financing cash flows used for finance leases	$	16		$	—		$	16	$	53		$	—		$	53
Non-cash investing and financing activities:
Operating lease ROU assets obtained in exchange for lease liabilities:
Operating lease ROU assets	$	1,650		$	12		$	1,662		4,995			—			4,995
Derecognition of ROU assets due to terminations, impairment or modifications	$	(543)		$	(15)		$	(558)		—			—			—
Other Information
Weighted-average remaining lease term—finance leases		2.33			—					3.33			—
Weighted-average remaining lease term—operating leases		11.73			2.74					12.23			3.55
Weighted-average discount rate—finance leases		11.10	%		—					11.10	%		—
Weighted-average discount rate—operating leases		4.34	%		3.93	%				4.38	%		3.98	%

Schedule of Capital Leases

Information regarding the Company’s minimum future lease obligations as of June 24, 2020 is as follows (in thousands):

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 30, 2020	$	27	$	14,838	$	1,393
December 29, 2021		54		28,909		2,887
December 28, 2022		45		25,975		3,284
December 27, 2023		—		23,627		3,318
December 25, 2024		—		21,333		3,203
Thereafter		—		141,408		27,265
Total	$	126	$	256,090	$	41,350
Less: imputed interest (2.33% - 11.10%)		(26)		(49,051)
Present value of lease obligations		100		207,039
Less: current maturities		(37)		(17,979)
Noncurrent portion	$	63	$	189,060

Information regarding the Company’s minimum future lease obligations as of December 25, 2019 is as follows (in thousands):

	Finance Leases		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 30, 2020	$	54	$	26,808	$	2,754
December 29, 2021		54		25,978		2,887
December 28, 2022		45		24,871		3,284
December 27, 2023		—		22,309		3,318
December 25, 2024		—		19,751		3,203
Thereafter		—		139,454		27,265
Total	$	153	$	259,171	$	42,711
Less: imputed interest (3.96% to 11.10%)		(36)		(45,273)
Present value of capital lease obligations		117		213,898
Less: current maturities		(34)		(16,406)
Noncurrent portion	$	83		197,492

Schedule of Operating Leases

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 30, 2020	$	27	$	14,838	$	1,393
December 29, 2021		54		28,909		2,887
December 28, 2022		45		25,975		3,284
December 27, 2023		—		23,627		3,318
December 25, 2024		—		21,333		3,203
Thereafter		—		141,408		27,265
Total	$	126	$	256,090	$	41,350
Less: imputed interest (2.33% - 11.10%)		(26)		(49,051)
Present value of lease obligations		100		207,039
Less: current maturities		(37)		(17,979)
Noncurrent portion	$	63	$	189,060

Information regarding the Company’s minimum future lease obligations as of December 25, 2019 is as follows (in thousands):

	Finance Leases		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 30, 2020	$	54	$	26,808	$	2,754
December 29, 2021		54		25,978		2,887
December 28, 2022		45		24,871		3,284
December 27, 2023		—		22,309		3,318
December 25, 2024		—		19,751		3,203
Thereafter		—		139,454		27,265
Total	$	153	$	259,171	$	42,711
Less: imputed interest (3.96% to 11.10%)		(36)		(45,273)
Present value of capital lease obligations		117		213,898
Less: current maturities		(34)		(16,406)
Noncurrent portion	$	83		197,492