Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
 3 Months Ended
Mar. 27, 2022
Leases [Abstract]  
Components of operating lease costs
Components of operating lease costs are included in occupancy, closed restaurant costs, restaurant pre-opening, general and administrative expense and property and equipment, net:
Thirteen Weeks Ended
Lease cost March 27, 2022 March 28, 2021
Operating lease cost $ 6,209  $ 6,385 
Variable lease cost 379  236 
$ 6,588  $ 6,621 
Supplemental Cash Flow Information
Supplemental cash flow disclosures and other lease information:
Thirteen Weeks Ended
March 27, 2022 March 28, 2021
Cash paid for operating lease liabilities $ 8,634  $ 7,130 
Operating lease assets obtained (surrendered) in exchange for operating lease liabilities(a)
3,955  (105)
(a) The thirteen weeks ended March 27, 2022 includes a $2.4 million increase to operating lease assets and liabilities related to new lease commencements and a $1.5 million increase primarily due to extending remaining lives of certain leases. The thirteen weeks ended March 28, 2021 includes a $3.1 million decrease to operating lease assets and liabilities related to the termination of two closed restaurant leases, partially offset by a $3.0 million increase mainly due to extending remaining lives of certain leases.
Supplemental balance sheet information
Supplemental balance sheet disclosures:
Operating leases Classification March 27, 2022 December 26, 2021
Right-of-use assets Operating lease assets $ 150,039  $ 148,444 
Deferred rent payments Operating lease liability 241  447 
Current lease liabilities Operating lease liability 13,103  12,556 
13,344  13,003 
Deferred rent payments Operating lease liability, less current portion 131  152 
Non-current lease liabilities Operating lease liability, less current portion 190,176  188,583 
190,307  188,735 
Total lease liabilities $ 203,651  $ 201,738 
Weighted average remaining lease term (in years) 13.0 13.0
Weighted average discount rate 7.7  % 7.7%
Operating Lease Liability Maturity Schedule
Future minimum rent payments for our operating leases for the next five years as of March 27, 2022 are as follows:
Fiscal year ending:
Remainder of 2022 $ 20,778 
2023 27,412 
2024 26,745 
2025 26,570 
2026 25,419 
Thereafter 194,557 
Total minimum lease payments 321,481 
Less: imputed interest 117,830 
Present value of lease liabilities $ 203,651