Leases

3 Months Ended

Mar. 29, 2022

Leases [Abstract]

Leases

Leases

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

Classification		March 29, 2022		December 28, 2021
Assets
Operating	Operating lease assets, net	$	186,493	$	188,440
Finance	Property and equipment	6,350		6,394
Total leased assets		$	192,843	$	194,834
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	27,149	$	26,617
Finance	Accrued expenses and other current liabilities	2,029		1,956
Long-term lease liabilities
Operating	Long-term operating lease liabilities	196,922		200,243
Finance	Other long-term liabilities	4,572		4,654
Total lease liabilities		$	230,672	$	233,470

Sublease income recognized in the Condensed Consolidated Statements of Operations was $0.8 million and $0.5 million for the first quarter of 2022 and 2021, respectively.

For certain of the Company’s restaurants, the COVID-19 pandemic has had an impact on the underlying asset values. In the first quarter of 2021, the Company recorded a right-of-use asset impairment charge for one restaurant to reduce the carrying value of operating lease assets to its respective estimated fair value. In the first quarters of 2021, we recorded an impairment charge of $0.3 million on the right-of-use assets of one restaurant that was impaired in the first quarter of 2021. There was no impairment to the Company’s right-of-use assets during the first quarter of 2022.

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

	Fiscal Quarter Ended
	March 29, 2022		March 30, 2021
Cash paid for lease liabilities:
Operating leases	$	10,444	$	11,666
Finance leases	614		525
	$	11,058	$	12,191
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	3,832	$	573
Finance leases	722		651
	$	4,554	$	1,224

Leases

Leases

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

Classification		March 29, 2022		December 28, 2021
Assets
Operating	Operating lease assets, net	$	186,493	$	188,440
Finance	Property and equipment	6,350		6,394
Total leased assets		$	192,843	$	194,834
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	27,149	$	26,617
Finance	Accrued expenses and other current liabilities	2,029		1,956
Long-term lease liabilities
Operating	Long-term operating lease liabilities	196,922		200,243
Finance	Other long-term liabilities	4,572		4,654
Total lease liabilities		$	230,672	$	233,470

Sublease income recognized in the Condensed Consolidated Statements of Operations was $0.8 million and $0.5 million for the first quarter of 2022 and 2021, respectively.

For certain of the Company’s restaurants, the COVID-19 pandemic has had an impact on the underlying asset values. In the first quarter of 2021, the Company recorded a right-of-use asset impairment charge for one restaurant to reduce the carrying value of operating lease assets to its respective estimated fair value. In the first quarters of 2021, we recorded an impairment charge of $0.3 million on the right-of-use assets of one restaurant that was impaired in the first quarter of 2021. There was no impairment to the Company’s right-of-use assets during the first quarter of 2022.

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

	Fiscal Quarter Ended
	March 29, 2022		March 30, 2021
Cash paid for lease liabilities:
Operating leases	$	10,444	$	11,666
Finance leases	614		525
	$	11,058	$	12,191
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	3,832	$	573
Finance leases	722		651
	$	4,554	$	1,224