Leases (Tables)

12 Months Ended

Dec. 29, 2020

Leases [Abstract]

Schedule of Lease Costs and Supplemental Information

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

Classification		December 29, 2020		December 31, 2019
Assets
Operating	Operating lease assets, net	$	195,618	$	209,717
Finance	Finance lease assets, net (1)	7,822		771
Total leased assets		$	203,440	$	210,488
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	26,094	$	22,775
Finance	Current finance lease liabilities (2)	1,800		510
Long-term lease liabilities
Operating	Long-term operating lease liabilities	210,454		225,014
Finance	Long-term finance lease liabilities (2)	6,056		281
Total lease liabilities		$	244,404	$	248,580

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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):

		Year Ended		Year Ended
Classification		December 29, 2020		December 31, 2019
Operating lease cost	Occupancy, other restaurant operating costs, and general and administrative expenses	$	39,870	$	40,753
	Closure costs, loss on disposals and other	1,309		802
Finance lease cost
Amortization of lease assets	Depreciation and amortization	1,142		661
Interest on lease liabilities	Interest expense, net	163		73
		42,484		42,289
Sublease income	Franchising royalties and fees, and other	(1,266)		(651)
Total lease cost, net		$	41,218	$	41,638

Lease term and discount rate are as follows:

	December 29, 2020		December 31, 2019
Weighted average remaining lease term (years):
Operating	8.5		10.0
Finance	4.2		2.9
Weighted average discount rate:
Operating	8.6	%	8.6	%
Finance	6.8	%	7.2	%

Supplemental disclosures of cash flow information related to leases are as follows (in thousands):

Cash paid for lease liabilities:	2020		2019
Operating leases	$	39,864	$	43,203
Finance leases	1,240		763
	$	41,104	$	43,966
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	8,310	$	11,211
Finance leases	8,291		253
	$	16,601	$	11,464

Schedule of Future Minimum Lease Payments for Finance Leases

Future minimum lease payments required under existing leases as of December 29, 2020 are as follows (in thousands):

	Operating Leases		Finance Leases		Total
2021	$	41,505	$	2,278	$	43,783
2022	43,126		2,151		45,277
2023	41,608		2,006		43,614
2024	39,961		1,849		41,810
2025	38,320		734		39,054
Thereafter	129,067		13		129,080
Total lease payments	333,587		9,031		342,618
Less: Imputed interest	97,039		1,175		98,214
Present value of lease liabilities	$	236,548	$	7,856	$	244,404

Schedule of Future Minimum Lease Payments for Operating Leases

Future minimum lease payments required under existing leases as of December 29, 2020 are as follows (in thousands):

	Operating Leases		Finance Leases		Total
2021	$	41,505	$	2,278	$	43,783
2022	43,126		2,151		45,277
2023	41,608		2,006		43,614
2024	39,961		1,849		41,810
2025	38,320		734		39,054
Thereafter	129,067		13		129,080
Total lease payments	333,587		9,031		342,618
Less: Imputed interest	97,039		1,175		98,214
Present value of lease liabilities	$	236,548	$	7,856	$	244,404