Leases (Tables)

3 Months Ended

Jun. 29, 2024

Leases

Schedule of ROU assets and liabilities

ROU assets and lease liabilities as of June 29, 2024 and March 30, 2024 consisted of the following:

		June 29, 2024		March 30, 2024
	Balance Sheet Classification	(in thousands)		(in thousands)
Assets
Finance lease assets	Right-of-use assets, net	$	8,350	$	8,537
Operating lease assets	Right-of-use assets, net		401,444		381,964
Total lease assets		$	409,794	$	390,501
Liabilities
Current
Finance	Short-term lease liabilities	$	891	$	873
Operating	Short-term lease liabilities		66,873		62,581
Total short-term lease liabilities		$	67,764	$	63,454
Non-Current
Finance	Long-term lease liabilities	$	14,199	$	14,428
Operating	Long-term lease liabilities		409,175		388,875
Total long-term lease liabilities		$	423,374	$	403,303
Total lease liabilities		$	491,138	$	466,757

Schedule of total lease cost

Total lease costs for the thirteen weeks ended June 29, 2024 and July 1, 2023 were:

	Thirteen Weeks Ended
(in thousands)	June 29, 2024		July 1, 2023
Finance lease cost
Amortization of right-of-use assets	$	187	$	207
Interest on lease liabilities		162		172
Total finance lease cost	$	349	$	379
Operating lease cost	$	21,422	$	17,302
Short-term lease cost		659		806
Variable lease cost		7,351		5,941
Total lease cost	$	29,781	$	24,428

Schedule of future lease payments

The following table summarizes future lease payments as of June 29, 2024:

	Operating Leases		Finance Leases
Fiscal Year	(in thousands)		(in thousands)
2025 (Remainder)	$	58,636	$	1,143
2026		89,516		1,552
2027		80,866		1,590
2028		70,358		1,629
2029		62,862		1,669
Thereafter		220,651		11,226
Total		582,889		18,809
Less: Imputed interest		(106,841)		(3,719)
Present value of net lease payments	$	476,048	$	15,090

Schedule of supplemental lease information

The following table includes supplemental lease information:

	Thirteen Weeks Ended			Thirteen Weeks Ended
Supplemental Cash Flow Information (dollars in thousands)	June 29, 2024			July 1, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$	21,387		$	17,848
Operating cash flows used for finance leases		160			170
Financing cash flows used for finance leases		212			215
	$	21,759		$	18,233
Lease liabilities arising from new right-of-use assets
Operating leases	$	35,201		$	20,897
Finance leases	$	—		$	—
Weighted average remaining lease term (in years)
Operating leases		7.8			8.1
Finance leases		11.2			12.1
Weighted average discount rate
Operating leases		5.0	%		4.7	%
Finance leases		10.9	%		10.9	%