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LEASES
 12 Months Ended
Dec. 28, 2025
Leases [Abstract]  
LEASES LEASES
The Company is party to operating lease agreements for warehouses, office space, vehicle maintenance facilities and livestock growing farms in the U.S., distribution centers, hatcheries and office space in Mexico and farms, processing facilities and office space in Europe. Additionally, the Company leases equipment, over-the-road transportation vehicles and other assets in all three reportable segments. The Company is also party to a limited number of finance lease agreements in the U.S.
The Company’s leases have remaining lease terms of less than one year to 17 years, some of which may include options to extend the lease for up to five years and some of which may include options to terminate the lease within one year. The exercise of options to extend lease terms is at the Company’s sole discretion. Certain leases also include options to purchase the leased property.
Certain lease agreements include rental payment increases over the lease term that can be either fixed or variable. Fixed payment increases and variable payment increases based on an index or rate are included in the initial lease liability using the index or rate at commencement date. Variable payment increases not based on an index are recognized as incurred. Certain lease agreements contain residual value guarantees, primarily vehicle and transportation equipment leases.
The following table presents components of lease expense (in thousands). Operating lease cost, finance lease amortization and finance lease interest are respectively included in Cost of sales, SG&A expense and Interest expense, net of capitalized interest in the Consolidated Statements of Income.
Year Ended
December 28, 2025December 29, 2024
Operating lease cost(a)
$82,986 $86,684 
Amortization of finance lease assets426 650 
Interest on finance leases39 58 
Short-term lease cost104,274 103,364 
Variable lease cost2,315 2,577 
Net lease cost$190,040 $193,333 
(a)Sublease income is immaterial and not included in operating lease costs.
The weighted-average remaining lease term and discount rate for lease liabilities included in our Consolidated Balance Sheets are as follows:
December 28, 2025December 29, 2024
Weighted-average remaining lease term:
Operating leases6.05 years6.11 years
Finance leases2.39 years3.35 years
Weighted-average discount rate:
Operating leases5.09 %4.53 %
Finance leases2.90 %2.66 %
Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended
December 28, 2025December 29, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases$86,231 $84,806 
Operating cash flows - finance leases43 40 
Financing cash flows - finance leases540 616 
Operating lease assets obtained in exchange for operating lease liabilities77,973 66,060 
Future minimum lease payments under noncancelable leases as of December 28, 2025 are as follows (in thousands):
Operating LeasesFinance Leases
For the fiscal years ending December:
2026$78,436 $617 
202759,386 575 
202844,698 248 
202933,482 — 
203021,380 — 
Thereafter61,848 — 
Total future minimum lease payments299,230 1,440 
Less: imputed interest(40,285)(51)
Present value of lease liabilities$258,945 $1,389 
Lease liabilities are included in our Consolidated Balance Sheets as follows (in thousands):
December 28, 2025December 29, 2024
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Accrued expenses and other current liabilities$59,630 $— $63,327 $— 
Current maturities of long-term debt— 585 — 536 
Noncurrent operating lease liability, less current maturities199,315 — 195,944 — 
Long-term debt, less current maturities— 804 — 1,256 
Total lease liabilities$258,945 $1,389 $259,271 $1,792 
LEASES LEASES
The Company is party to operating lease agreements for warehouses, office space, vehicle maintenance facilities and livestock growing farms in the U.S., distribution centers, hatcheries and office space in Mexico and farms, processing facilities and office space in Europe. Additionally, the Company leases equipment, over-the-road transportation vehicles and other assets in all three reportable segments. The Company is also party to a limited number of finance lease agreements in the U.S.
The Company’s leases have remaining lease terms of less than one year to 17 years, some of which may include options to extend the lease for up to five years and some of which may include options to terminate the lease within one year. The exercise of options to extend lease terms is at the Company’s sole discretion. Certain leases also include options to purchase the leased property.
Certain lease agreements include rental payment increases over the lease term that can be either fixed or variable. Fixed payment increases and variable payment increases based on an index or rate are included in the initial lease liability using the index or rate at commencement date. Variable payment increases not based on an index are recognized as incurred. Certain lease agreements contain residual value guarantees, primarily vehicle and transportation equipment leases.
The following table presents components of lease expense (in thousands). Operating lease cost, finance lease amortization and finance lease interest are respectively included in Cost of sales, SG&A expense and Interest expense, net of capitalized interest in the Consolidated Statements of Income.
Year Ended
December 28, 2025December 29, 2024
Operating lease cost(a)
$82,986 $86,684 
Amortization of finance lease assets426 650 
Interest on finance leases39 58 
Short-term lease cost104,274 103,364 
Variable lease cost2,315 2,577 
Net lease cost$190,040 $193,333 
(a)Sublease income is immaterial and not included in operating lease costs.
The weighted-average remaining lease term and discount rate for lease liabilities included in our Consolidated Balance Sheets are as follows:
December 28, 2025December 29, 2024
Weighted-average remaining lease term:
Operating leases6.05 years6.11 years
Finance leases2.39 years3.35 years
Weighted-average discount rate:
Operating leases5.09 %4.53 %
Finance leases2.90 %2.66 %
Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended
December 28, 2025December 29, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases$86,231 $84,806 
Operating cash flows - finance leases43 40 
Financing cash flows - finance leases540 616 
Operating lease assets obtained in exchange for operating lease liabilities77,973 66,060 
Future minimum lease payments under noncancelable leases as of December 28, 2025 are as follows (in thousands):
Operating LeasesFinance Leases
For the fiscal years ending December:
2026$78,436 $617 
202759,386 575 
202844,698 248 
202933,482 — 
203021,380 — 
Thereafter61,848 — 
Total future minimum lease payments299,230 1,440 
Less: imputed interest(40,285)(51)
Present value of lease liabilities$258,945 $1,389 
Lease liabilities are included in our Consolidated Balance Sheets as follows (in thousands):
December 28, 2025December 29, 2024
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Accrued expenses and other current liabilities$59,630 $— $63,327 $— 
Current maturities of long-term debt— 585 — 536 
Noncurrent operating lease liability, less current maturities199,315 — 195,944 — 
Long-term debt, less current maturities— 804 — 1,256 
Total lease liabilities$258,945 $1,389 $259,271 $1,792