Leases (Tables)

6 Months Ended

Jun. 26, 2019

Leases [Abstract]

New Accounting Pronouncements

Upon transition, on December 27, 2018, we recorded the following increases (decreases) to the respective line items on the Condensed Consolidated Balance Sheet:

	Adjustment as of  December 27, 2018
Prepaid expenses and other current assets	$	6
Property and equipment, net	(11,448		)
Operating lease assets	229,885
Deferred income taxes, net	(121		)
Deemed landlord financing	(20,846		)
Deferred rent	(47,862		)
Long-term operating lease liabilities	277,224
Other long-term liabilities	4,611
Retained earnings	4,136
Non-controlling interests	1,059

Lease, Cost

A summary of lease terms and discount rates for finance and operating leases as of June 26, 2019 is as follows:

		June 26 2019
Weighted-average remaining lease term (years):
	Finance leases	5.2
	Operating leases	10.0
Weighted-average discount rate:
	Finance leases	3.9	%
	Operating leases	4.7	%

Supplemental cash flow information related to leases as of June 26, 2019 is as follows:

		June 26 2019
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows from finance leases	$	96
	Operating cash flows from operating leases	17,342
	Financing cash flows from finance leases	912
Right-of-use assets obtained in exchange for lease obligations:
	Finance leases	1,311
	Operating leases	38,437

A summary of finance and operating lease right-of-use assets and liabilities as of June 26, 2019 is as follows:

	Classification	June 26 2019
Finance leases	Property and equipment, net	$	4,968
Operating leases	Operating lease assets	257,969
Total right-of-use assets		$	262,937
Finance leases:
	Other current liabilities	1,830
	Other long-term liabilities	3,179
Operating leases:
	Operating lease liabilities, current	24,139
	Long-term operating lease liabilities	292,643
Total lease liabilities		$	321,791

The components of lease expense for the thirteen and twenty-six weeks ended June 26, 2019 were as follows:

			Thirteen Weeks Ended		Twenty-Six Weeks Ended
		Classification	June 26 2019		June 26 2019
Finance lease cost:
	Amortization of right-of-use assets	Depreciation expense	$	619	$	953
	Interest on lease liabilities	Interest expense	55		96
Operating lease cost		Occupancy and related expenses General and administrative expenses Pre-opening costs	9,855		18,765
Short-term lease cost		Occupancy and related expenses	17		34
Variable lease cost		Occupancy and related expenses General and administrative expenses Pre-opening costs	3,836		7,298
Total lease cost			$	14,382	$	27,146

Lessee, Operating Lease, Liability, Maturity

As of June 26, 2019, future minimum lease payments for finance and operating leases consisted of the following:

	Finance Leases		Operating Leases
2019	$	1,047	$	21,127
2020	1,656		43,747
2021	1,060		44,456
2022	670		45,169
2023	518		45,068
Thereafter	475		240,724
Total minimum payments	5,426		440,291
Less: imputed interest	417		123,509
Total lease liabilities	$	5,009	$	316,782

Finance Lease, Liability, Maturity

As of June 26, 2019, future minimum lease payments for finance and operating leases consisted of the following:

	Finance Leases		Operating Leases
2019	$	1,047	$	21,127
2020	1,656		43,747
2021	1,060		44,456
2022	670		45,169
2023	518		45,068
Thereafter	475		240,724
Total minimum payments	5,426		440,291
Less: imputed interest	417		123,509
Total lease liabilities	$	5,009	$	316,782