Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
 12 Months Ended
Dec. 27, 2020
Leases [Abstract]  
Components of operating lease costs
Year Ended
Lease cost December 27, 2020 December 29, 2019
Operating lease cost (a)
$ 26,419  $ 25,478 
Variable lease cost 515  1,103 
$ 26,934  $ 26,581 
(a) Includes short-term operating lease costs which are immaterial.
Supplemental cash flow disclosures and other lease information :
Year Ended
December 27, 2020 December 29, 2019
Cash paid for operating lease liabilities 23,021 25,781 
Operating lease assets obtained in exchange for operating lease liabilities (a)
3,845 177,701 
(a) The year-ended December 27, 2020 includes a $5.6 million reduction to the operating lease assets and liabilities mainly as a result of shortening the remaining life of certain leases as well as a $9.4 million increase due to new lease commencements. The
year-ended December 29, 2019 includes the transition adjustment for the adoption of Leases (Topic 842) of $170.3 million, new lease commencements of $11.7 million as well as a $4.3 million reduction to the operating lease assets and liabilities as a result of shortening the remaining life of certain leases.
Supplemental balance sheet information Supplemental balance sheet disclosures:
Operating leases Classification December 27, 2020 December 29, 2019
Right-of-use assets Operating lease assets $ 159,156  $ 169,299 
Deferred Rent Payments
 Operating lease liability 2,169  — 
Current lease liabilities Operating lease liability 12,397  10,307 
14,566  10,307 
Deferred Rent Payments Operating lease liability, less current portion 746  — 
Non-current lease liabilities Operating lease liability, less current portion 206,855  214,541 
207,601  214,541 
Total lease liabilities $ 222,167  $ 224,848 
Weighted average remaining lease term (in years)
 13.8 15.0
Weighted average discount rate
 7.9  % 7.8  %
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 27, 2020 are as follows:
Fiscal years ending:
2021 $ 31,161 
2022 28,775 
2023 28,223 
2024 26,936 
2025 26,522 
Thereafter 220,521 
Total minimum lease payments 362,138 
Less: imputed interest 139,971 
Present value of lease liabilities $ 222,167