LEASES (Tables)

12 Months Ended

Dec. 28, 2022

Leases [Abstract]

Schedule of lease cost

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

	December 28, 2022						December 29, 2021						December 30, 2020
	Property		Equipment				Property		Equipment				Property		Equipment
	Leases		Leases		Total		Leases		Leases		Total		Leases		Leases		Total
Finance lease cost:
Amortization of right-of-use assets	$	73	$	2	$	75	$	78	$	2	$	80	$	11	$	—	$	11
Interest on lease liabilities		42		3		45		58		1		59		27		—		27
Operating lease cost		26,537		1,005		27,542		26,501		1,122		27,623		26,578		1,227		27,805
Short-term lease cost		—		18		18		—		21		21		—		23		23
Variable lease cost		597		677		1,274		539		354		893		444		191		635
Sublease income		(4,555)		—		(4,555)		(3,823)		—		(3,823)		(3,251)		—		(3,251)
Total lease cost	$	22,694	$	1,705	$	24,399	$	23,353	$	1,500	$	24,853	$	23,809	$	1,441	$	25,250

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

	December 28, 2022		December 29, 2021		December 30, 2020
Lease cost – Occupancy and other operating expenses	$	23,730	$	24,020	$	23,972
Lease cost – General & administrative		465		413		464
Lease cost – Depreciation and amortization		73		78		11
Lease cost – Interest expense		45		59		27
Lease cost – Closed-store reserve		86		283		776
Total lease cost	$	24,399	$	24,853	$	25,250

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

	December 28, 2022								December 29, 2021								December 30, 2020
	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	$	27,221		$	953		$	28,174	$	26,414		$	1,084		$	27,498	$	23,683		$	1,230		$	24,913
Financing cash flows used for finance leases	$	106		$	56		$	162	$	102		$	46		$	148	$	34		$	5		$	39
Non-cash investing and financing activities:
Operating lease ROU assets obtained in exchange for lease liabilities:
Operating lease ROU assets	$	12,978		$	92		$	13,070	$	17,763		$	—		$	17,763	$	5,850		$	13		$	5,863
Finance lease ROU assets obtained in exchange for lease liabilities:
Finance lease ROU assets	$	—		$	28		$	28	$	—		$	196		$	196	$	1,623		$	54		$	1,677
Derecognition of ROU assets due to terminations, impairment or modifications	$	(39)		$	(35)		$	(74)	$	(4,513)		$	(99)		$	(4,612)	$	(543)		$	(26)		$	(569)
Other Information
Weighted-average remaining years in lease term—finance leases		17.87			3.19					18.42			4.02					18.98			4.52
Weighted-average remaining years in lease term—operating leases		10.73			1.73					11.27			1.44					11.45			2.31
Weighted-average discount rate—finance leases		2.57	%		1.53	%				2.78	%		1.54	%				2.50	%		1.68	%
Weighted-average discount rate—operating leases		4.54	%		3.80	%				4.45	%		3.89	%				4.29	%		3.93	%

Schedule of Financing Leases

Information regarding the Company’s minimum future lease obligations at December 28, 2022 is as follows (in thousands):

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 27, 2023	$	151	$	27,876	$	4,040
December 25, 2024		151		25,887		3,685
December 31, 2025		147		23,729		3,207
December 30, 2026		114		21,595		2,881
December 29, 2027		104		19,806		2,829
Thereafter		1,479		117,566		20,403
Total	$	2,146	$	236,459	$	37,045
Less: imputed interest (1.53% - 4.54%)		(410)		(51,315)
Present value of lease obligations		1,736		185,144
Less: current maturities		(110)		(19,995)
Noncurrent portion	$	1,626	$	165,149

Schedule of Operating Leases

Information regarding the Company’s minimum future lease obligations at December 28, 2022 is as follows (in thousands):

	Finance		Operating Leases
	Minimum		Minimum		Minimum
	Lease		Lease		Sublease
For the Years Ending	Payments		Payments		Income
December 27, 2023	$	151	$	27,876	$	4,040
December 25, 2024		151		25,887		3,685
December 31, 2025		147		23,729		3,207
December 30, 2026		114		21,595		2,881
December 29, 2027		104		19,806		2,829
Thereafter		1,479		117,566		20,403
Total	$	2,146	$	236,459	$	37,045
Less: imputed interest (1.53% - 4.54%)		(410)		(51,315)
Present value of lease obligations		1,736		185,144
Less: current maturities		(110)		(19,995)
Noncurrent portion	$	1,626	$	165,149