Leases (Tables)

3 Months Ended

Apr. 02, 2019

Leases [Abstract]

Lease, Cost

Supplemental balance sheet information related to leases is as follows (in thousands):

Classification		April 2, 2019
Assets
Operating	Operating lease assets, net	$	218,311
Finance	Finance lease assets, net (1)	1,057
Total leased assets		$	219,368
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	21,528
Finance	Current finance lease liabilities (2)	811
Long-term lease liabilities
Operating	Long-term operating lease liabilities	237,341
Finance	Long-term finance lease liabilities (2)	271
Total lease liabilities		$	259,951

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(1) The finance lease assets are included in property and equipment, net in the Consolidated Balance Sheets.

(2) The current portion of the finance lease liabilities is included in accrued expenses and other current liabilities, and the long-term portion is included in other long-term liabilities in the Consolidated Balance Sheets.

The components of lease costs are as follows (in thousands):

Classification		April 2, 2019
Operating lease cost	Occupancy, other restaurant operating costs, and general and administrative expenses	$	10,144
Finance lease cost
Amortization of lease assets	Depreciation and amortization	171
Interest on lease liabilities	Interest expense, net	20
		10,335
Sublease income	Franchising royalties and fees, and other	(112		)
Total lease cost, net		$	10,223

Lease term and discount rate for the first quarter ended April 2, 2019 are as follows:

	April 2, 2019
Weighted average remaining lease term (years):
Operating	9.4
Finance	2.2
Weighted average discount rate:
Operating	8.66	%
Finance	7.11	%

Supplemental disclosures of cash flow information related to leases for the first quarter ended April 2, 2019 are as follows (in thousands):

	April 2, 2019
Cash paid for lease liabilities:
Operating leases	$	10,693
Finance leases	217
	$	10,910
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	3,161
Finance leases	50
	$	3,211

Finance Lease, Liability, Maturity

Future minimum lease payments required under existing leases as of April 2, 2019 are as follows (in thousands):

	Operating Leases		Finance Leases		Total
Remainder of 2019	$	32,178	$	497	$	32,675
2020	42,686		471		43,157
2021	42,188		151		42,339
2022	42,024		23		42,047
2023	40,695		14		40,709
Thereafter	182,453		9		182,462
Total lease payments	382,224		1,165		383,389
Less: Imputed interest	123,355		83		123,438
Present value of lease liabilities	$	258,869	$	1,082	$	259,951

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments required under existing leases as of April 2, 2019 are as follows (in thousands):

	Operating Leases		Finance Leases		Total
Remainder of 2019	$	32,178	$	497	$	32,675
2020	42,686		471		43,157
2021	42,188		151		42,339
2022	42,024		23		42,047
2023	40,695		14		40,709
Thereafter	182,453		9		182,462
Total lease payments	382,224		1,165		383,389
Less: Imputed interest	123,355		83		123,438
Present value of lease liabilities	$	258,869	$	1,082	$	259,951