Leases

12 Months Ended

Dec. 28, 2024

Leases [Abstract]

Leases

LEASES

The Company leases certain real and personal property under non-cancelable operating leases. In addition, the Company leases a large portion of the Company’s fleet of tractors, all of its rail cars, some IT equipment and other transportation equipment. The Company’s office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. In addition, the Company’s other variable lease payments are not significant.

The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):

	Year Ended
	December 28, 2024		December 30, 2023		December 31, 2022
Operating lease expense	$	64,848	$	56,078	$	49,377
Short-term lease costs	36,363		36,762		31,133
Total lease cost	$	101,211	$	92,840	$	80,510

Other information (in thousands, except lease terms and discount rates):

	Year Ended
	December 28, 2024			December 30, 2023			December 31, 2022
Cash paid for amounts included in the measurement lease liabilities:
Operating cash flows from operating leases	$	65,840		$	58,924		$	53,359
Operating right-of-use assets, net	$	210,692		$	205,539
Operating lease liabilities, current	$	62,761		$	55,325
Operating lease liabilities, non-current	152,327			154,903
Total operating lease liabilities	$	215,088		$	210,228
Weighted average remaining lease term - operating leases	5.74 years			6.25 years
Weighted average discount rate - operating leases	4.87		%	4.59		%

Future annual minimum lease payments and finance lease commitments as of December 28, 2024 were as follows (in thousands):

Period Ending Fiscal	Operating Leases		Finance Leases
2025	$	67,252	$	4,078
2026	51,506		2,209
2027	41,822		1,573
2028	30,883		1,124
2029	18,024		756
Thereafter	32,861		—
Total undiscounted lease payments	242,348		9,740
Less amounts representing interest	(27,260)		(384)
Lease obligations included in current and long-term liabilities	215,088		9,356

The Company’s finance lease assets are included in property, plant and equipment and the finance lease obligations are included in the Company’s current and long-term debt obligations on the Consolidated Balance Sheet.

Leases

LEASES

The Company leases certain real and personal property under non-cancelable operating leases. In addition, the Company leases a large portion of the Company’s fleet of tractors, all of its rail cars, some IT equipment and other transportation equipment. The Company’s office leases include certain lease and non-lease components, where the Company has elected to exclude the non-lease components from the calculation of the lease liability and ROU asset. The Company has finance leases, which are not significant to the Company and not separately disclosed in detail. In addition, the Company’s other variable lease payments are not significant.

The components of operating lease expense included in cost of sales and operating expenses and selling, general and administrative expenses were as follows (in thousands):

	Year Ended
	December 28, 2024		December 30, 2023		December 31, 2022
Operating lease expense	$	64,848	$	56,078	$	49,377
Short-term lease costs	36,363		36,762		31,133
Total lease cost	$	101,211	$	92,840	$	80,510

Other information (in thousands, except lease terms and discount rates):

	Year Ended
	December 28, 2024			December 30, 2023			December 31, 2022
Cash paid for amounts included in the measurement lease liabilities:
Operating cash flows from operating leases	$	65,840		$	58,924		$	53,359
Operating right-of-use assets, net	$	210,692		$	205,539
Operating lease liabilities, current	$	62,761		$	55,325
Operating lease liabilities, non-current	152,327			154,903
Total operating lease liabilities	$	215,088		$	210,228
Weighted average remaining lease term - operating leases	5.74 years			6.25 years
Weighted average discount rate - operating leases	4.87		%	4.59		%

Future annual minimum lease payments and finance lease commitments as of December 28, 2024 were as follows (in thousands):

Period Ending Fiscal	Operating Leases		Finance Leases
2025	$	67,252	$	4,078
2026	51,506		2,209
2027	41,822		1,573
2028	30,883		1,124
2029	18,024		756
Thereafter	32,861		—
Total undiscounted lease payments	242,348		9,740
Less amounts representing interest	(27,260)		(384)
Lease obligations included in current and long-term liabilities	215,088		9,356

The Company’s finance lease assets are included in property, plant and equipment and the finance lease obligations are included in the Company’s current and long-term debt obligations on the Consolidated Balance Sheet.