Leases (Tables)

12 Months Ended

Dec. 29, 2021

Leases [Abstract]

Schedule of lease cost

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

	December 29, 2021						December 30, 2020						December 25, 2019
	Property		Equipment				Property		Equipment				Property		Equipment
	Leases		Leases		Total		Leases		Leases		Total		Leases		Leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	78	$	2	$	80	$	11	$	—	$	11	$	9	$	—	$	9
Interest on lease liabilities		58		1		59		27		—		27		27		—		27
Operating lease cost		26,501		1,122		27,623		26,578		1,227		27,805		26,212		1,273		27,485
Short-term lease cost		—		21		21		—		23		23		—		34		34
Variable lease cost		539		354		893		444		191		635		455		186		641
Sublease income		(3,823)		—		(3,823)		(3,251)		—		(3,251)		(2,430)		—		(2,430)
Total lease cost	$	23,353	$	1,500	$	24,853	$	23,809	$	1,441	$	25,250	$	24,273	$	1,493	$	25,766

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

	December 29, 2021		December 30, 2020		December 25, 2019
Lease cost – Occupancy and other operating expenses	$	24,020	$	23,972	$	24,540
Lease cost – General & administrative		414		464		463
Lease cost – Depreciation and amortization		78		11		9
Lease cost – Interest expense		58		27		27
Lease cost - Closed-store reserve		283		776		727
Total lease cost	$	24,853	$	25,250	$	25,766

The Company had the following cash and non-cash activities associated with its leases (in thousands):

	December 29, 2021								December 30, 2020								December 25, 2019
	Property			Equipment					Property			Equipment					Property			Equipment
	Leases			Leases			Total		Leases			Leases			Total		Leases			Leases			Total
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	26,414		$	1,084		$	27,498	$	23,683		$	1,230		$	24,913	$	25,168		$	1,282		$	26,450
Financing cash flows used for finance leases	$	102		$	46		$	148	$	34		$	5		$	39	$	68		$	—		$	68
Non-cash investing and financing activities:
Operating lease ROU assets obtained in exchange for lease liabilities:
Operating lease ROU assets	$	17,763		$	—		$	17,763	$	5,850		$	13		$	5,863	$	10,339		$	256		$	10,595
Finance lease ROU assets obtained in exchange for lease liabilities:
Finance lease ROU assets	$	—		$	196		$	196	$	1,623		$	54		$	1,677	$	—		$	—		$	—
Derecognition of ROU assets due to terminations, impairment or modifications	$	(4,513)		$	(99)		$	(4,612)	$	(543)		$	(26)		$	(569)	$	(4,574)		$	(157)		$	(4,731)
Other Information
Weighted-average remaining lease term—finance leases		18.42			4.02					18.98			4.52					2.83			—
Weighted-average remaining lease term—operating leases		11.27			1.44					11.45			2.31					12.08			3.20
Weighted-average discount rate—finance leases		2.78	%		1.54	%				2.50	%		1.68	%				11.10	%		—	%
Weighted-average discount rate—operating leases		4.45	%		3.89	%				4.29	%		3.93	%				4.38	%		3.96	%

Schedule of Capital Leases

Information regarding the Company’s minimum future lease obligations at December 29, 2021 is as follows (in thousands):

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 28, 2022	$	190	$	27,866	$	3,588
December 27, 2023		145		26,115		3,571
December 25, 2024		145		24,013		3,456
December 31, 2025		141		21,773		3,106
December 30, 2026		108		19,546		2,789
Thereafter		1,582		127,306		23,165
Total	$	2,311	$	246,619	$	39,675
Less: imputed interest (1.54% - 4.45%)		(456)		(55,009)
Present value of lease obligations		1,855		191,610
Less: current maturities		(143)		(19,959)
Noncurrent portion	$	1,712	$	171,651

Schedule of Operating Leases

Information regarding the Company’s minimum future lease obligations at December 29, 2021 is as follows (in thousands):

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 28, 2022	$	190	$	27,866	$	3,588
December 27, 2023		145		26,115		3,571
December 25, 2024		145		24,013		3,456
December 31, 2025		141		21,773		3,106
December 30, 2026		108		19,546		2,789
Thereafter		1,582		127,306		23,165
Total	$	2,311	$	246,619	$	39,675
Less: imputed interest (1.54% - 4.45%)		(456)		(55,009)
Present value of lease obligations		1,855		191,610
Less: current maturities		(143)		(19,959)
Noncurrent portion	$	1,712	$	171,651