Leases (Tables)

9 Months Ended

Dec. 30, 2023

Leases

Schedule of ROU assets and liabilities

ROU assets and lease liabilities as of December 30, 2023 and April 1, 2023 consist of the following:

		December 30, 2023		April 1, 2023
	Balance Sheet Classification	(in thousands)		(in thousands)
Assets
Finance lease assets	Right-of-use assets, net	$	8,724	$	9,357
Operating lease assets	Right-of-use assets, net		358,021		317,266
Total lease assets		$	366,745	$	326,623
Liabilities
Current
Finance	Short-term lease liabilities	$	854	$	863
Operating	Short-term lease liabilities		58,389		50,732
Total short-term lease liabilities		$	59,243	$	51,595
Non-Current
Finance	Long-term lease liabilities	$	14,654	$	15,301
Operating	Long-term lease liabilities		360,691		314,780
Total long-term lease liabilities		$	375,345	$	330,081
Total lease liabilities		$	434,588	$	381,676

Schedule of total lease cost

Total lease costs for the thirteen and thirty-nine weeks ended December 30, 2023 and December 24, 2022 were:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(in thousands)	December 30, 2023		December 24, 2022		December 30, 2023		December 24, 2022
Finance lease cost
Amortization of right-of-use assets	$	205	$	213	$	618	$	682
Interest on lease liabilities		167		177		508		539
Total finance lease cost	$	372	$	390	$	1,126	$	1,221
Operating lease cost	$	18,515	$	15,860	$	53,594	$	45,076
Short-term lease cost		1,298		1,736		3,138		3,646
Variable lease cost		6,132		6,124		18,266		16,874
Total lease cost	$	26,317	$	24,110	$	76,124	$	66,817

Schedule of future lease payments

The following table summarizes future lease payments as of December 30, 2023:

	Operating Leases		Finance Leases
Fiscal Year	(in thousands)		(in thousands)
2024	$	11,326	$	372
2025		76,432		1,515
2026		74,071		1,552
2027		65,024		1,590
2028		58,825		1,629
Thereafter		228,786		12,895
Total		514,464		19,553
Less: Imputed interest		(95,384)		(4,045)
Present value of net lease payments	$	419,080	$	15,508

Schedule of supplemental lease information

The following table includes supplemental lease information:

	Thirty-Nine Weeks Ended			Thirty-Nine Weeks Ended
Supplemental Cash Flow Information (dollars in thousands)	December 30, 2023			December 24, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	57,127		$	44,653
Operating cash flows used for finance leases		501			350
Financing cash flows used for finance leases		670			824
	$	58,298		$	45,827
Lease liabilities arising from new right-of-use assets
Operating leases	$	80,498		$	101,203
Finance leases	$	—		$	—
Weighted average remaining lease term (in years)
Operating leases		8.0			8.0
Finance leases		11.7			12.6
Weighted average discount rate
Operating leases		4.9	%		4.6	%
Finance leases		10.9	%		10.9	%