XML 27 R17.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 6 Months Ended
Jul. 11, 2021
Leases [Abstract]  
Schedule of Leased Assets and Liabilities
Leases are included in right-of-use assets, net, current portion of lease obligations, and long-term portion of lease liabilities on our Condensed Consolidated Balance Sheet as of July 11, 2021 and December 27, 2020 as follows (in thousands):
July 11, 2021FinanceOperatingTotal
Right of use assets, net$9,909 $414,738 $424,647 
Current portion of lease obligations1,108 49,914 51,022 
Long-term portion of lease obligations10,925 446,971 457,896 
Total$12,033 $496,885 $508,918 
December 27, 2020FinanceOperatingTotal
Right of use assets, net$9,644 $415,929 $425,573 
Current portion of lease obligations1,078 54,197 55,275 
Long-term portion of lease obligations10,937 454,296 465,233 
Total$12,015 $508,493 $520,508 
Lease cost
The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and real estate taxes, are included in Occupancy on our Condensed Consolidated Statement of Operations and Comprehensive Loss as follows (in thousands):
Twelve Weeks EndedTwenty-Eight Weeks Ended
July 11, 2021July 12, 2020July 11, 2021July 12, 2020
Operating lease cost$16,243 $14,949 $37,704 $36,939 
Finance lease cost:
Amortization of right of use assets197 185460 388
Interest on lease liabilities117 124276 262
Total finance lease cost$314 $309 $736 $650 
Variable lease cost4,359 4,988 10,775 13,305 
Total$20,916 $20,246 $49,215 $50,894 
Schedule of operating lease maturities Maturities of our lease liabilities as of July 11, 2021 were as follows (in thousands):
Finance Leases Operating LeasesTotal
Remainder of 2021$820 $35,857 $36,677 
20221,327 78,816 80,143 
20231,244 75,746 76,990 
20241,264 73,579 74,843 
20251,283 68,874 70,157 
Thereafter9,349 373,835 383,184 
Total future lease liability$15,287 $706,707 $721,994 
Less imputed interest3,254 209,822 213,076 
Carrying value of lease liability$12,033 $496,885 $508,918 
Schedule of finance lease maturities Maturities of our lease liabilities as of July 11, 2021 were as follows (in thousands):
Finance Leases Operating LeasesTotal
Remainder of 2021$820 $35,857 $36,677 
20221,327 78,816 80,143 
20231,244 75,746 76,990 
20241,264 73,579 74,843 
20251,283 68,874 70,157 
Thereafter9,349 373,835 383,184 
Total future lease liability$15,287 $706,707 $721,994 
Less imputed interest3,254 209,822 213,076 
Carrying value of lease liability$12,033 $496,885 $508,918 
Supplemental cash flow related to leases Supplemental cash flow and other information related to leases is as follows (in thousands, except other information):
Twenty-Eight Weeks Ended
July 11, 2021July 12, 2020
Cash flows from operating activities
Cash paid related to lease liabilities
Operating leases$47,727 $17,188 
Finance leases276 262 
Cash flows from financing activities
Cash paid related to lease liabilities
Finance leases1,018 — 
Cash paid for amounts included in the measurement of lease liabilities:$49,021 $17,450 
Right of use assets obtained in exchange for operating lease obligations$7,784 $19,781 
Right of use assets obtained in exchange for finance lease obligations$751 $4,224 
Other information related to operating leases as follows:
Weighted average remaining lease term10.0 years10.4 years
Weighted average discount rate7.01 %7.25 %
Other information related to finance leases as follows:
Weighted average remaining lease term11.3 years12.2 years
Weighted average discount rate4.56 %4.96 %