XML 47 R27.htm IDEA: XBRL DOCUMENT v3.22.0.1
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

​

 

  

​