XML 38 R28.htm IDEA: XBRL DOCUMENT v3.20.2
Leases Leases (Tables)
9 Months Ended
Sep. 23, 2020
Leases  
Schedule of lease cost

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Thirteen Weeks Ended

​

    

September 23, 2020

​

September 25, 2019

​

    

Property

    

Equipment

    

​

​

​

Property

​

Equipment

​

​

​

​

​

Leases

​

Leases

​

Total

​

Leases

​

Leases

​

Total

Finance lease cost:

 

​

  

 

​

  

 

​

  

​

​

​

​

​

​

​

​

​

Interest on lease liabilities

​

$

5

​

$

—

​

$

5

​

$

9

​

$

—

​

$

9

Operating lease cost

​

 

6,502

​

 

297

​

 

6,799

​

 

6,534

​

 

313

​

 

6,847

Short-term lease cost

​

 

—

​

 

6

​

 

6

​

 

—

​

 

9

​

 

9

Variable lease cost

​

 

116

​

 

50

​

 

166

​

 

121

​

 

38

​

 

159

Sublease income

​

 

(883)

​

 

—

​

 

(883)

​

 

(722)

​

 

—

​

 

(722)

Total lease cost

​

$

5,740

​

$

353

​

$

6,093

​

$

5,942

​

$

360

​

$

6,302

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Thirty-Nine Weeks Ended

​

​

September 23, 2020

​

September 25, 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

​

 

16

​

 

—

​

 

16

​

 

24

​

 

—

​

 

24

Operating lease cost

​

 

19,577

​

 

911

​

 

20,488

​

 

19,721

​

 

967

​

 

20,688

Short-term lease cost

​

 

—

​

 

18

​

 

18

​

 

—

​

 

26

​

 

26

Variable lease cost

​

 

325

​

 

120

​

 

445

​

 

346

​

 

136

​

 

482

Sublease income

​

 

(2,424)

​

 

—

​

 

(2,424)

​

 

(1,623)

​

 

—

​

 

(1,623)

Total lease cost

​

$

17,494

​

$

1,049

​

$

18,543

​

$

18,477

​

$

1,129

​

$

19,606

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Thirteen Weeks Ended

​

​

Thirty-Nine Weeks Ended

​

    

September 23, 2020

​

September 25, 2019

​

​

September 23, 2020

    

September 25, 2019

Lease cost – Occupancy and other operating expenses

​

$

5,786

​

$

6,015

​

​

$

17,582

​

$

18,675

Lease cost – General & administrative

​

 

114

​

​

116

​

​

 

344

​

​

348

Lease cost – Depreciation and amortization

​

 

5

​

​

—

​

​

 

16

​

​

9

Lease cost – Interest expense

​

 

—

​

​

9

​

​

 

—

​

​

24

Lease cost - Closed-store reserve

​

 

188

​

​

162

​

​

 

601

​

​

550

Total lease cost

​

$

6,093

​

$

6,302

​

​

$

18,543

​

$

19,606

​

During the thirty-nine weeks ended September 23, 2020 and September 25, 2019, the Company had the following cash and non-cash activities associated with its leases (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Thirty-Nine Weeks Ended September 23, 2020

​

Thirty-Nine Weeks Ended September 25, 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

​

$

16,348

​

$

928

 

$

17,276

​

$

18,819

​

$

970

​

$

19,789

Financing cash flows used for finance leases

​

$

24

​

$

2

 

$

26

​

$

61

​

$

—

​

$

61

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Non-cash investing and financing activities:

​

 

  

​

 

  

 

​

  

​

​

​

​

​

​

​

​

​

Operating lease ROU assets obtained in exchange for lease liabilities:

​

 

  

​

 

  

 

​

  

​

​

​

​

​

​

​

​

​

Operating lease ROU assets

​

$

3,180

​

$

41

 

$

3,221

​

​

8,832

​

​

36

​

​

8,868

Derecognition of ROU assets due to terminations, impairment or modifications

​

$

(543)

​

$

(26)

 

$

(569)

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other Information

​

 

  

​

 

  

 

​

  

​

​

​

​

​

​

​

​

​

Weighted-average remaining lease term—finance leases

​

 

2.08

​

 

4.83

​

​

  

​

​

3.08

​

​

—

​

​

​

Weighted-average remaining lease term—operating leases

​

 

11.62

​

 

2.59

​

​

  

​

​

12.21

​

​

3.08

​

​

​

Weighted-average discount rate—finance leases

​

 

11.10

%  

 

1.68

%  

​

  

​

​

11.10

%  

​

—

​

​

​

Weighted-average discount rate—operating leases

​

 

4.31

%  

 

3.89

%  

​

  

​

​

4.40

%  

​

4.00

%  

​

​

Schedule of Capital Leases

Information regarding the Company’s minimum future lease obligations as of September 23, 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

​

$

16

​

$

7,611

​

$

693

December 29, 2021

​

 

66

​

 

28,901

​

 

2,887

December 28, 2022

​

 

57

​

 

26,112

​

 

3,284

December 27, 2023

​

 

11

​

 

23,763

​

 

3,318

December 25, 2024

​

 

11

​

 

21,469

​

 

3,203

Thereafter

​

 

6

​

 

142,716

​

 

27,265

Total

​

$

167

​

$

250,572

​

$

40,650

Less: imputed interest (2.33% - 11.10%)

​

 

(23)

​

 

(47,972)

​

 

  

Present value of lease obligations

​

 

144

​

 

202,600

​

 

  

Less: current maturities

​

 

(50)

​

 

(19,847)

​

 

  

Noncurrent portion

​

$

94

​

$

182,753

​

 

  

​

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

Information regarding the Company’s minimum future lease obligations as of September 23, 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

​

$

16

​

$

7,611

​

$

693

December 29, 2021

​

 

66

​

 

28,901

​

 

2,887

December 28, 2022

​

 

57

​

 

26,112

​

 

3,284

December 27, 2023

​

 

11

​

 

23,763

​

 

3,318

December 25, 2024

​

 

11

​

 

21,469

​

 

3,203

Thereafter

​

 

6

​

 

142,716

​

 

27,265

Total

​

$

167

​

$

250,572

​

$

40,650

Less: imputed interest (2.33% - 11.10%)

​

 

(23)

​

 

(47,972)

​

 

  

Present value of lease obligations

​

 

144

​

 

202,600

​

 

  

Less: current maturities

​

 

(50)

​

 

(19,847)

​

 

  

Noncurrent portion

​

$

94

​

$

182,753

​

 

  

​

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

​