Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.4
Leases (Tables)
12 Months Ended
Dec. 25, 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:
Year Ended
Lease cost December 25, 2022 December 26, 2021
Operating lease cost $ 24,436  $ 25,425 
Variable lease cost 1,315  1,132 
$ 25,751  $ 26,557 
Supplemental cash flow disclosures and other lease information:
Year Ended
December 25, 2022 December 26, 2021
Cash paid for operating lease liabilities (a)
29,969 37,466 
Operating lease assets obtained (surrendered) in exchange for operating lease liabilities (b)
8,166 (514)
(a) The year-ended December 25, 2022 includes $2.9 million of termination payments for four of our closed restaurant operating leases. The year-ended December 26, 2021 includes $7.8 million of termination payments for six of our closed restaurant operating leases.
(b) The year-ended December 25, 2022 includes a $9.1 million increase due to new lease commencements and a $1.6 million increase mainly due to extending remaining lives of certain leases, partially offset by a $2.5 million decrease to operating lease assets and liabilities related to the termination of four closed restaurant leases. The year-ended December 26, 2021 includes a $10.1 million decrease to operating lease assets and liabilities related to the termination of six closed restaurant leases and a purchase of one existing lease, partially offset by a $9.5 million increase mainly due to extending remaining lives of certain leases.
Supplemental balance sheet information Supplemental balance sheet disclosures:
Operating leases Classification December 25, 2022 December 26, 2021
Right-of-use assets Operating lease assets $ 146,920  $ 148,444 
Deferred Rent Payments
Operating lease liability 84  447 
Current lease liabilities Operating lease liability 12,415  12,556 
12,499  13,003 
Deferred Rent Payments Operating lease liability, less current portion 68  152 
Non-current lease liabilities Operating lease liability, less current portion 183,602  188,583 
183,670  188,735 
Total lease liabilities $ 196,169  $ 201,738 
Weighted average remaining lease term (in years)
12.7 13.0
Weighted average discount rate
7.6  % 7.7  %
Schedule of Future Minimum Rent Payments for Operating Leases Future minimum rent payments for our operating leases for each of the next five years as of December 25, 2022 are as follows:
Fiscal years ending:
2023 $ 26,720 
2024 26,163 
2025 26,279 
2026 25,298 
2027 22,894 
Thereafter 178,172 
Total minimum lease payments 305,526 
Less: imputed interest 109,357 
Present value of lease liabilities $ 196,169