Gift Cards

12 Months Ended

Dec. 29, 2020

Gift Cards

Gift Cards

10.    Gift Cards

The following tables present information related to gift cards (in thousands):

	December 29, 2020		December 31, 2019
Gift card liabilities:
Beginning balance	$	187,978	$	172,336
Activations		110,670		158,099
Redemptions and breakage		(113,993)		(142,457)
Ending balance	$	184,655	$	187,978

	December 29, 2020		December 31, 2019
Gift card contract assets (1):
Beginning balance	$	23,172	$	23,388
Deferrals		12,348		18,378
Amortization		(17,565)		(18,594)
Ending balance	$	17,955	$	23,172

(1) Included in prepaid expenses on the consolidated balance sheets.

The significant declines in activations, redemptions and breakage during fiscal 2020 compared to fiscal 2019 stem from the impact of the COVID-19 pandemic on our business.