Leases (Tables)

9 Months Ended

Sep. 28, 2024

Lease, Cost

The components of lease cost for finance leases and operating leases for the thirty-nine weeks ended September 28, 2024 were (in thousands):

Finance leases:
Amortization of right-of-use assets	$	12,901
Interest on lease liability		1,863
Total finance lease cost		14,764
Operating leases:
Lease cost		2,883
Variable lease cost		—
Sublease income		(4,273	)
Total net operating lease income		(1,390	)
Total net lease cost	$	13,374

Schedule Of Supplemental Balance Sheet Information Related To Leases

A summary of the lease classification on the Company’s consolidated balance sheet as of September 28, 2024 is as follows (in thousands):

Assets:

Operating lease right-of-use assets	Other assets	$	1,074
Finance lease assets	Operating property, less accumulated depreciation and amortization		108,185
Total lease assets		$	109,259

Finance And Operating Lease Maturity

The following table reconciles the undiscounted cash flows for the finance and operating leases to the finance and operating lease liabilities recorded on the balance sheet at September 28, 2024 (in thousands):

	Finance Leases		Operating Leases
2024 Remainder	$	8,069	$	191
2025		28,968		533
2026		21,074		213
2027		10,686		175
2028		6,584		49
Thereafter		2,963		—
Total future minimum lease payments		78,344		1,161
Less amount representing interest (1.6% to 6.5%)		5,838		87
Present value of minimum lease payments	$	72,506	$	1,074

Current maturities of long-term debt	27,672
Long-term debt, excluding current maturities	44,834
Other current liabilities		618
Deferred income taxes and other noncurrent liabilities		456

Schedule Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets

The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of September 28, 2024 were:

	Finance Leases			Operating Leases
Weighted average remaining lease term (years)		3.2			2.4
Weighted average discount rate		4.2	%		6.5	%