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Leases (Tables)
3 Months Ended
Mar. 29, 2025
Leases [Abstract]  
Schedule of Operating Lease Costs Lease costs were as follows (in thousands):
Three Months Ended
March 29,
2025
March 30,
2024
Operating lease costs(1)
$26,537
$26,826
Variable lease costs(2)
$103
$(49)
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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 for subsequent years are as follows(1) (in thousands):
2025 (excluding the three months ended March 29, 2025)
$79,025
2026
96,149
2027
79,655
2028
66,229
2029
45,658
2030
31,636
Thereafter
47,078
Total operating lease payments(2)
445,430
Less: Interest
68,521
Present value of operating lease liabilities
$376,909
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(1)Total operating lease payments exclude $13 million of legally binding minimum lease payments for leases signed but not yet commenced.
(2)Includes the current portion of $83 million for operating lease liabilities.
Schedule of Other Information Related Operating Leases Other information related to operating leases was as follows:
March 29,
2025
December 28,
2024
Weighted-average remaining lease term (in years)
5.3
5.4
Weighted-average discount rate
6.6%
6.6%
Three Months Ended
(in thousands)
March 29,
2025
March 30,
2024
Cash paid for amounts included in present value of operating lease liabilities
$26,589
$27,222
Right-of-use assets obtained in exchange for operating lease liabilities
$7,711
$12,990