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Commitments and Contingencies (Tables)
3 Months Ended
Mar. 26, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating Lease Liabilities
The following table presents maturity of lease liabilities under the Company's non-cancelable leases as of March 26, 2022 (in thousands):
Operating LeaseFinance Lease
Total lease payments$83,479 $1,910 
Less: interest(1)
18,229 100 
Present value of lease liabilities$65,250 $1,810 
(1) Calculated using the interest rate for each lease.
The following table sets forth commitments and contingencies related to our various obligations (in thousands):
  Payments Due by Period
 TotalRemainder of 20222023202420252026Thereafter
Operating leases(1)(2)
$83,479 $16,035 $14,703 $13,253 $12,251 $9,614 $17,623 
Finance lease obligations(3)
1,910 931 802 177 — — — 
2027 Notes, including interest(4)
225,000 2,500 5,000 5,000 5,000 5,000 202,500 
2024 Notes, including interest(4)
423,883 4,277 8,553 411,053 — — — 
Mortgage Payable, including interest(4)
8,197 586 781 6,830 — — — 
Total contractual obligations
$742,469 $24,329 $29,839 $436,313 $17,251 $14,614 $220,123 
(1)The Company leases facilities under non-cancelable operating lease agreements. These leases have varying terms that range from one to 11 years. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(2)The Company has contractual commitments to remove leasehold improvements and return certain properties to a specified condition when the leases terminate. At the inception of a lease with such conditions, the Company records an asset retirement obligation liability and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. Asset retirement obligations were $5.1 million as of each of March 26, 2022 and December 25, 2021, respectively. Of the $5.1 million as of March 26, 2022, $5.0 million is classified as other long-term liabilities on the accompanying condensed consolidated balance sheets. The remainder is classified as accrued expenses and other current liabilities.
(3)The Company has finance leases for manufacturing and other equipment. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(4)See Note 12, "Debt" to the Notes to Condensed Consolidated Financial Statements for more information.
Schedule of Finance Lease Liabilities
The following table presents maturity of lease liabilities under the Company's non-cancelable leases as of March 26, 2022 (in thousands):
Operating LeaseFinance Lease
Total lease payments$83,479 $1,910 
Less: interest(1)
18,229 100 
Present value of lease liabilities$65,250 $1,810 
(1) Calculated using the interest rate for each lease.
The following table sets forth commitments and contingencies related to our various obligations (in thousands):
  Payments Due by Period
 TotalRemainder of 20222023202420252026Thereafter
Operating leases(1)(2)
$83,479 $16,035 $14,703 $13,253 $12,251 $9,614 $17,623 
Finance lease obligations(3)
1,910 931 802 177 — — — 
2027 Notes, including interest(4)
225,000 2,500 5,000 5,000 5,000 5,000 202,500 
2024 Notes, including interest(4)
423,883 4,277 8,553 411,053 — — — 
Mortgage Payable, including interest(4)
8,197 586 781 6,830 — — — 
Total contractual obligations
$742,469 $24,329 $29,839 $436,313 $17,251 $14,614 $220,123 
(1)The Company leases facilities under non-cancelable operating lease agreements. These leases have varying terms that range from one to 11 years. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(2)The Company has contractual commitments to remove leasehold improvements and return certain properties to a specified condition when the leases terminate. At the inception of a lease with such conditions, the Company records an asset retirement obligation liability and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. Asset retirement obligations were $5.1 million as of each of March 26, 2022 and December 25, 2021, respectively. Of the $5.1 million as of March 26, 2022, $5.0 million is classified as other long-term liabilities on the accompanying condensed consolidated balance sheets. The remainder is classified as accrued expenses and other current liabilities.
(3)The Company has finance leases for manufacturing and other equipment. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(4)See Note 12, "Debt" to the Notes to Condensed Consolidated Financial Statements for more information.
Schedule of Maturities of Long-term Debt The following table sets forth commitments and contingencies related to our various obligations (in thousands):
  Payments Due by Period
 TotalRemainder of 20222023202420252026Thereafter
Operating leases(1)(2)
$83,479 $16,035 $14,703 $13,253 $12,251 $9,614 $17,623 
Finance lease obligations(3)
1,910 931 802 177 — — — 
2027 Notes, including interest(4)
225,000 2,500 5,000 5,000 5,000 5,000 202,500 
2024 Notes, including interest(4)
423,883 4,277 8,553 411,053 — — — 
Mortgage Payable, including interest(4)
8,197 586 781 6,830 — — — 
Total contractual obligations
$742,469 $24,329 $29,839 $436,313 $17,251 $14,614 $220,123 
(1)The Company leases facilities under non-cancelable operating lease agreements. These leases have varying terms that range from one to 11 years. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(2)The Company has contractual commitments to remove leasehold improvements and return certain properties to a specified condition when the leases terminate. At the inception of a lease with such conditions, the Company records an asset retirement obligation liability and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. Asset retirement obligations were $5.1 million as of each of March 26, 2022 and December 25, 2021, respectively. Of the $5.1 million as of March 26, 2022, $5.0 million is classified as other long-term liabilities on the accompanying condensed consolidated balance sheets. The remainder is classified as accrued expenses and other current liabilities.
(3)The Company has finance leases for manufacturing and other equipment. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(4)See Note 12, "Debt" to the Notes to Condensed Consolidated Financial Statements for more information.
Schedule of Short-term Debt The following table sets forth commitments and contingencies related to our various obligations (in thousands):
  Payments Due by Period
 TotalRemainder of 20222023202420252026Thereafter
Operating leases(1)(2)
$83,479 $16,035 $14,703 $13,253 $12,251 $9,614 $17,623 
Finance lease obligations(3)
1,910 931 802 177 — — — 
2027 Notes, including interest(4)
225,000 2,500 5,000 5,000 5,000 5,000 202,500 
2024 Notes, including interest(4)
423,883 4,277 8,553 411,053 — — — 
Mortgage Payable, including interest(4)
8,197 586 781 6,830 — — — 
Total contractual obligations
$742,469 $24,329 $29,839 $436,313 $17,251 $14,614 $220,123 
(1)The Company leases facilities under non-cancelable operating lease agreements. These leases have varying terms that range from one to 11 years. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(2)The Company has contractual commitments to remove leasehold improvements and return certain properties to a specified condition when the leases terminate. At the inception of a lease with such conditions, the Company records an asset retirement obligation liability and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. Asset retirement obligations were $5.1 million as of each of March 26, 2022 and December 25, 2021, respectively. Of the $5.1 million as of March 26, 2022, $5.0 million is classified as other long-term liabilities on the accompanying condensed consolidated balance sheets. The remainder is classified as accrued expenses and other current liabilities.
(3)The Company has finance leases for manufacturing and other equipment. The above payment schedule includes interest. See Note 3, "Leases" to the Notes to Condensed Consolidated Financial Statements for more information.
(4)See Note 12, "Debt" to the Notes to Condensed Consolidated Financial Statements for more information.