Gift Cards

12 Months Ended

Jan. 03, 2023

Gift Cards

Gift Cards

8. Gift Cards

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

	Fiscal year ended
	January 3, 2023		December 28, 2021
Gift card liabilities:
Beginning balance	$	211,182	$	184,655
Activations		152,368		144,892
Redemptions and breakage		(143,743)		(118,365)
Ending balance	$	219,808	$	211,182

	Fiscal year ended
	January 3, 2023		December 28, 2021
Gift card contract assets: (1)
Beginning balance	$	18,468	$	17,955
Deferrals		16,440		15,852
Amortization		(15,022)		(15,339)
Ending balance	$	19,886	$	18,468

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