Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.3
Leases (Tables)
 9 Months Ended
Sep. 24, 2023
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 Thirty-Nine Weeks Ended
Lease cost September 24, 2023 September 25, 2022 September 24, 2023 September 25, 2022
Operating lease cost $ 6,019  $ 6,072  $ 18,060  $ 18,426 
Variable lease cost 443  358  1,374  1,094 
$ 6,462  $ 6,430  $ 19,434  $ 19,520 
Supplemental Cash Flow Information
Supplemental cash flow disclosures and other lease information:
Thirty-Nine Weeks Ended
September 24, 2023 September 25, 2022
Cash paid for operating lease liabilities $ 20,520  $ 23,377 
Operating lease assets obtained in exchange for operating lease liabilities(a)
197  7,724 
(a) The thirty-nine weeks ended September 24, 2023 includes a $2.7 million increase due to extending remaining lives of certain leases, partially offset by a $1.9 million decrease as a result of a purchase of an existing operating lease and a $0.6 million decrease as a result of the termination of a closed restaurant lease. The thirty-nine weeks ended September 25, 2022 includes a $7.4 million increase to operating lease assets and liabilities related to new lease commencements, a $2.8 million increase due to extending remaining lives of certain leases, partially offset by a $2.5 million decrease as a result of the termination of closed restaurant leases.
Supplemental Balance Sheet Information
Supplemental balance sheet disclosures:
Operating leases Classification September 24, 2023 December 25, 2022
Right-of-use assets Operating lease assets $ 139,491  $ 146,920 
Deferred rent payments Operating lease liability 5  84 
Current lease liabilities Operating lease liability 12,548  12,415 
12,553  12,499 
Deferred rent payments Operating lease liability, less current portion 64  68 
Non-current lease liabilities Operating lease liability, less current portion 173,907  183,602 
173,971  183,670 
Total lease liabilities $ 186,524  $ 196,169 
Weighted average remaining lease term (in years) 12.1 12.7
Weighted average discount rate 7.6  % 7.6%
Future Minimum Rent Payments
Future minimum rent payments for our operating leases for the next five years as of September 24, 2023 are as follows:
Fiscal year ending:
Remainder of 2023 $ 6,502 
2024 26,262 
2025 26,378 
2026 25,468 
2027 23,419 
Thereafter 176,402 
Total minimum lease payments 284,431 
Less: imputed interest 97,907 
Present value of lease liabilities $ 186,524