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Leases (Tables)
9 Months Ended
Sep. 24, 2022
Leases  
Schedule of components of lease expenses

The components of lease expense were as follows:

13 Weeks Ended

39 Weeks Ended

(In thousands)

Statement of Operations Caption

September 24, 2022

September 25, 2021

September 24, 2022

September 25, 2021

Operating lease cost:

    

  

    

  

    

  

Lease cost

 

Cost of sales and Selling, general and administrative

$

823

$

841

$

2,502

$

2,426

Variable lease cost (1)

 

Cost of sales and Selling, general and administrative

 

379

356

 

1,099

 

1,012

Total operating lease cost

 

 

1,202

1,197

 

3,601

 

3,438

Short term lease cost

 

Cost of sales and Selling, general and administrative

 

81

61

 

177

 

172

Finance lease cost:

 

  

 

 

 

Amortization of right-of-use assets

 

Cost of sales and Selling, general and administrative

 

66

66

 

196

 

196

Interest on lease liabilities

 

Interest expense, net

 

132

133

 

397

 

399

Total finance lease cost

 

 

198

199

 

593

 

595

Total lease cost

$

1,481

$

1,457

$

4,371

$

4,205

(1)Variable lease cost primarily consists of common area maintenance, utilities, taxes and insurance.

The gross amount of assets and liabilities related to both operating and finance leases were as follows:

(In thousands)

Balance Sheet Caption

September 24, 2022

December 25, 2021

Assets

    

  

    

  

    

  

Operating lease right-of-use assets

 

Operating lease right-of-use assets

$

13,932

$

15,672

Finance lease right-of-use assets

 

Property and equipment, net

 

6,103

 

6,299

Total lease assets

 

$

20,035

$

21,971

Liabilities

 

  

 

  

 

  

Current:

Operating lease liabilities

Current portion of long-term operating lease liabilities

$

3,298

$

3,216

Finance lease liabilities

Current portion of long-term debt

98

98

Long-term:

Operating lease liabilities

 

Long-term operating lease liabilities

 

14,912

 

17,302

Finance lease liabilities

 

Long-term debt, net of debt issuance costs

 

6,938

 

6,997

Total lease liabilities

 

$

25,246

$

27,613

The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases were as follows:

    

September 24, 2022

    

December 25, 2021

Weighted-average remaining lease term (in years):

 

Operating leases

6.6

7.1

Finance leases

34.3

34.8

Weighted-average discount rate

Operating leases

4.9

%  

4.9

%

Finance leases

 

7.8

%  

7.8

%

Supplemental cash flow and other information related to leases were as follows:

    

39 Weeks Ended

(In thousands)

September 24, 2022

September 25, 2021

Cash paid for amounts included in the measurement of lease liabilities

    

  

    

  

Operating cash flows from operating leases

$

3,042

$

2,883

Operating cash flows from finance leases

 

397

 

399

Financing cash flows from finance leases

59

$

49

Right-of-use assets obtained in exchange for new lease liabilities

Finance leases

Operating leases

78

1,638

Schedule of Future minimum lease payments of operating leases

Future maturities of lease liabilities as of September 24, 2022, were as follows:

(In thousands)

    

Operating Leases

    

Finance Leases

Fiscal year ending:

 

  

 

  

Remainder of 2022

$

1,050

$

151

2023

 

4,062

 

609

2024

 

3,493

 

557

2025

 

2,982

 

549

2026

 

3,005

 

520

Thereafter

 

6,920

 

18,970

Total lease payments

 

21,512

 

21,356

Less: Interest

 

(3,302)

 

(14,320)

Present value of lease liabilities

$

18,210

$

7,036

Schedule of Future minimum lease payments of finance leases

(In thousands)

    

Operating Leases

    

Finance Leases

Fiscal year ending:

 

  

 

  

Remainder of 2022

$

1,050

$

151

2023

 

4,062

 

609

2024

 

3,493

 

557

2025

 

2,982

 

549

2026

 

3,005

 

520

Thereafter

 

6,920

 

18,970

Total lease payments

 

21,512

 

21,356

Less: Interest

 

(3,302)

 

(14,320)

Present value of lease liabilities

$

18,210

$

7,036