Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.0.1
Leases (Tables)
12 Months Ended
Dec. 26, 2021
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 26, 2021 December 27, 2020
Operating lease cost $ 25,425  $ 26,419 
Variable lease cost 1,132  515 
$ 26,557  $ 26,934 
Supplemental cash flow disclosures and other lease information:
Year Ended
December 26, 2021 December 27, 2020
Cash paid for operating lease liabilities (a)
37,466 23,021 
Operating lease assets obtained (surrendered) in exchange for operating lease liabilities (b)
(514) 3,845 
(a) 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 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. The year-ended December 27, 2020 includes a $9.4 million increase due to new lease commencements, partially offset by a $5.6 million reduction to the operating lease assets and liabilities mainly as a result of shortening the remaining life of certain leases.
Supplemental balance sheet information Supplemental balance sheet disclosures:
Operating leases Classification December 26, 2021 December 27, 2020
Right-of-use assets Operating lease assets $ 148,444  $ 159,156 
Deferred Rent Payments
Operating lease liability 447  2,169 
Current lease liabilities Operating lease liability 12,556  12,397 
13,003  14,566 
Deferred Rent Payments Operating lease liability, less current portion 152  746 
Non-current lease liabilities Operating lease liability, less current portion 188,583  206,855 
188,735  207,601 
Total lease liabilities $ 201,738  $ 222,167 
Weighted average remaining lease term (in years)
13.0 13.8
Weighted average discount rate
7.7  % 7.9  %
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 26, 2021 are as follows:
Fiscal years ending:
2022 $ 27,669 
2023 27,147 
2024 26,300 
2025 26,065 
2026 24,914 
Thereafter 187,820 
Total minimum lease payments 319,915 
Less: imputed interest 118,177 
Present value of lease liabilities $ 201,738