LEASES (Tables)

12 Months Ended

Dec. 30, 2023

Leases [Abstract]

Schedule of Right-of-Use Lease Assets and Lease Liabilities in Condensed Financial Statements

Right-of-use lease assets and lease liabilities are reported in the Company’s consolidated balance sheets as follows:

	December 30, 2023		December 31, 2022
	(in thousands)
Operating leases
Operating lease right-of-use assets, net	$	394,029	$	391,762
Other current liabilities	$	54,908	$	46,526
Operating lease right-of-use liabilities	419,234		389,745
Total operating lease liabilities	$	474,142	$	436,271
Finance leases
Property, plant and equipment, net	$	29,422	$	31,875
Current portion of long-term debt and finance leases	$	2,398	$	2,330
Long-term debt, net and finance leases	26,152		28,316
Total finance lease liabilities	$	28,550	$	30,646

Schedule of Operating and Finance Lease Costs and Supplemental Cash Flow Information

The following table presents the components of operating and finance lease costs within the Company’s consolidated statements of income for fiscal years 2023, 2022 and 2021:

	Fiscal Year
	2023		2022		2021
	(in thousands)
Operating lease costs	$	65,380	$	59,671	$	45,728
Finance lease costs:
Amortization of right-of-use assets	2,745		3,035		3,337
Interest on lease liabilities	1,477		1,441		1,280
Short-term lease costs	3,581		2,954		2,441
Variable lease costs	22,159		13,965		4,623
Sublease income	(2,067)		(1,912)		(2,008)
Total lease costs	$	93,275	$	79,154	$	55,401

Other information related to leases was as follows:

Supplemental cash flow information

	Fiscal Year
	2023		2022		2021
	(in thousands)
Cash flows included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	60,239	$	48,360	$	42,576
Operating cash flows from finance leases	1,476		1,442		1,282
Finance cash flows from finance leases	2,297		2,257		3,202
Non-cash leases activity:
Right-of-use lease assets obtained in exchange for new operating lease liabilities	$	75,987	$	189,134	$	142,764
Right-of-use lease assets obtained in exchange for new finance lease liabilities	—		8,179		1,567

Lease term and discount rate

	December 30, 2023		December 31, 2022		December 25, 2021
Weighted-average remaining lease term (in years)
Operating lease	9.6		9.8		9.0
Finance lease	12.7		13.6		11.7
Weighted-average discount rate
Operating lease	4.7	%	4.3	%	3.6	%
Finance lease	5.3	%	5.3	%	4.4	%

Schedule of Future Minimum Lease Payments Under Non-Cancellable Operating Leases After Adoption

As of December 30, 2023, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:

	Operating Leases		Finance Leases
	(in thousands)
2024	$	70,578	$	3,796
2025	63,433		3,513
2026	58,494		3,038
2027	59,946		2,999
2028	57,953		2,988
Thereafter	286,215		23,562
Total minimum future lease payments	596,619		39,896
Less: Imputed interest	122,477		11,346
Total lease liabilities	$	474,142	$	28,550

Schedule of Future Minimum Lease Payments Under Non-Cancellable Finance Leases After Adoption

As of December 30, 2023, maturities of operating and finance lease liabilities for each of the following five years and a total thereafter were as follows:

	Operating Leases		Finance Leases
	(in thousands)
2024	$	70,578	$	3,796
2025	63,433		3,513
2026	58,494		3,038
2027	59,946		2,999
2028	57,953		2,988
Thereafter	286,215		23,562
Total minimum future lease payments	596,619		39,896
Less: Imputed interest	122,477		11,346
Total lease liabilities	$	474,142	$	28,550