Leases (Tables)

3 Months Ended

Mar. 30, 2024

Lease, Cost

The components of lease cost for finance leases and operating leases for the thirteen weeks ended March 30, 2024 were (in thousands):

Finance leases:
Amortization of right-of-use assets	$	4,079
Interest on lease liability		550
Total finance lease cost		4,629
Operating leases:
Lease cost		1,040
Variable lease cost		—
Sublease income		(1,407	)
Total net operating lease income		(367	)
Total net lease cost	$	4,262

Schedule Of Supplemental Balance Sheet Information Related To Leases

A summary of the lease classification on the Company’s consolidated balance sheet as of March 30, 2024 is as follows (in thousands):

Assets:
Operating lease right-of-use assets	Other assets	$	1,484
Finance lease assets	Operating property, less accumulated depreciation and amortization		97,244
Total lease assets		$	98,728

Finance And Operating Lease Maturity

The following table reconciles the undiscounted cash flows for the finance and operating leases to the finance and operating lease liabilities recorded on the balance sheet at March 30, 2024 (in thousands):

	Finance Leases		Operating Leases
2024 Remainder	$	22,254	$	629
2025		23,855		547
2026		15,752		213
2027		5,358		176
2028		1,256		49
Thereafter		51		—
Total future minimum lease payments		68,526		1,614
Less amount representing interest (1.6% to 6.5%)		3,300		130
Present value of minimum lease payments	$	65,226	$	1,484
Current maturities of long-term debt		26,730
Long-term debt, excluding current maturities		38,496
Other current liabilities				791
Deferred income taxes and other noncurrent liabilities				693

Schedule Discount Rate And Lease Term Used In Calculating Lease Liabilities And Assets

The weighted average remaining lease term and the weighted average discount rate for finance and operating leases as of March 30, 2024 were:

	Finance Leases			Operating Leases
Weighted average remaining lease term (years)		2.8			2.6
Weighted average discount rate		3.2	%		6.5	%