Gift Cards

12 Months Ended

Jan. 02, 2024

Gift Cards

Gift Cards

8.    Gift Cards

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

	Fiscal year ended
	January 2, 2024		January 3, 2023
Gift card liabilities:
Beginning balance	$	219,808	$	211,182
Activations		140,647		152,368
Redemptions and breakage		(137,540)		(143,743)
Ending balance	$	222,915	$	219,808

	Fiscal year ended
	January 2, 2024		January 3, 2023
Gift card contract assets: (1)
Beginning balance	$	19,886	$	18,468
Deferrals		14,957		16,440
Amortization		(15,732)		(15,022)
Ending balance	$	19,111	$	19,886

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