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Commitments and Contingencies (Tables)
12 Months Ended
Dec. 29, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Supplemental Balance Sheet Information Related to Operating Leases
The table below presents supplemental balance sheet information related to operating leases.
in thousands, except lease term and discount rate
Classification
As of December 29, 2022As of December 30, 2021
Assets
BuildingRight-of-use assets$989,955 $972,962 
LandRight-of-use assets199,035 107,764 
EquipmentRight-of-use assets16,646 14,127 
SoftwareRight-of-use assets— 8,897 
Total operating lease assets$1,205,636 $1,103,750 
Liabilities
Current
BuildingCurrent portion of lease liabilities95,216 92,909 
LandCurrent portion of lease liabilities1,922 1,385 
EquipmentCurrent portion of lease liabilities8,555 6,842 
SoftwareCurrent portion of lease liabilities— 3,466 
Total current operating lease liabilities105,693 104,602 
Noncurrent
BuildingLease liabilities998,883 989,712 
LandLease liabilities220,570 120,174 
EquipmentLease liabilities8,054 7,285 
SoftwareLease liabilities— 3,819 
Total noncurrent operating lease liabilities1,227,507 1,120,990 
Total operating lease liabilities$1,333,200 $1,225,592 
Weighted-average remaining lease term12 years11 years
Weighted-average discount rate5.4%5.1%
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases.
Fiscal Year Ended
in thousandsClassificationDecember 29,
2022
December 30,
2021
December 31,
2020
Fixed operating lease cost:Selling and store operating$139,603 $123,882 $105,207 
Cost of sales25,465 24,170 22,672 
Pre-opening9,971 10,127 7,886 
General and administrative4,622 4,359 4,118 
Total fixed operating lease cost$179,661 $162,538 $139,883 
Variable lease cost (1):
Selling and store operating$49,605 $42,093 $34,499 
Cost of sales3,894 5,506 4,860 
Pre-opening666 274 657 
General and administrative787 310 151 
Total variable lease cost$54,952 $48,183 $40,167 
Sublease incomeCost of sales(2,722)(2,694)(2,713)
Total operating lease cost (2)
$231,891 $208,027 $177,337 
(1)Includes variable costs for common area maintenance, property taxes, and insurance on leased real estate.
(2)Excludes short-term lease costs, which were immaterial for the fiscal years ended December 29, 2022, December 30, 2021, and December 31, 2020.
Schedule of Future Minimum Lease Payments Under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) as of December 29, 2022 were as follows:
in thousands
Amount
2023$170,669 
2024189,116 
2025177,156 
2026166,350 
2027158,809 
Thereafter
1,020,281 
Total minimum lease payments (1) (2)
1,882,381 
Less: amount of lease payments representing interest
549,181 
Present value of future minimum lease payments
1,333,200 
Less: current obligations under leases
105,693 
Long-term lease obligations
$1,227,507 
(1)Future lease payments exclude approximately $262.7 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2)Operating lease payments include $184.2 million related to options to extend lease terms that are reasonably certain of being exercised.