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Leases (Tables)
9 Months Ended
Sep. 28, 2024
Leases [Abstract]  
Schedule of Operating Lease Costs Lease costs were as follows (in thousands):
Three Months Ended
Nine Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Operating lease costs(1)
$26,445
$28,517
$80,180
$84,889
Variable lease costs(2)
$42
$48
$1
$230
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(1)Includes short-term lease costs which are not significant.
(2)Variable lease costs include adjustments to percentage rent.
Schedule of Maturities of Operating Lease Liabilities The maturities of operating lease liabilities as of September 28, 2024, were as follows(1) (in thousands):
2024 (excluding the nine months ended September 28, 2024)
$26,997
2025
103,848
2026
91,716
2027
75,205
2028
63,060
2029
43,265
Thereafter
73,361
Total operating lease payments(2)
477,452
Less: Interest
76,299
Present value of operating lease liabilities
$401,153
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(1)Future payments for real estate taxes and certain building operating expenses for which the Company is obligated are not included in the operating
lease liabilities. Total operating lease payments exclude $17 million of legally binding minimum lease payments for leases signed but not yet
commenced.
(2)Includes the current portion of $82 million for operating lease liabilities.
Schedule of Other Information Related Operating Leases Other information related to operating leases was as follows:
September 28,
2024
December 30,
2023
Weighted-average remaining lease term (in years)
5.5
5.9
Weighted-average discount rate
6.6%
6.5%
Nine Months Ended
(in thousands)
September 28,
2024
September 30,
2023
Cash paid for amounts included in present value of operating lease liabilities
$81,089
$80,650
Right-of-use assets obtained in exchange for operating lease liabilities
$29,390
$54,172