Leases (Tables)

12 Months Ended

Dec. 27, 2020

Leases

Schedule of average terms of lease portfolios

	Average lease term
Domestic Company-owned restaurants	Five years, plus at least one renewal
United Kingdom franchise-owned restaurants	15 years
Domestic commissary locations	10 years, plus at least one renewal
Domestic and international tractors and trailers	Five to seven years
Domestic and international commissary and office equipment	Three to five years

Schedule of operating lease assets and liabilities

The following schedule details the total right-of-use assets and lease liabilities on the Consolidated Balance Sheets as of December 27, 2020 and December 29, 2019 (in thousands):

			December 27,		December 29,
Leases	Classification		2020		2019
Assets
Finance lease assets, net	Finance lease right-of-use assets, net	$	16,840	$	9,383
Operating lease assets, net	Operating lease right-of-use assets		148,110		148,229
Total lease assets		$	164,950	$	157,612
Liabilities
Current finance lease liabilities	Current finance lease liabilities	$	3,545	$	1,789
Current operating lease liabilities	Current operating lease liabilities		23,538		23,226
Noncurrent finance lease liabilities	Long-term finance lease liabilities		13,531		7,629
Noncurrent operating lease liabilities	Long-term operating lease liabilities		124,666		125,297
Total lease liabilities		$	165,280	$	157,941

Schedule of components of lease expense

		Year Ended		Year Ended
(in thousands)		December 27, 2020		December 29, 2019
Finance lease:
Amortization of right-of-use assets	$	2,342	$	815
Interest on lease liabilities		606		251
Operating lease:
Operating lease cost		40,026		42,487
Short-term lease cost		3,960		2,704
Variable lease cost		6,503		9,558
Total lease costs	$	53,437	$	55,815
Sublease income		(10,407)		(10,879)
Total lease costs, net of sublease income	$	43,030	$	44,936

Schedule of future minimum lease payments and sublease income under contractually-obligated leases

Future minimum lease payments under contractually-obligated leases and associated sublease income as of December 27, 2020 are as follows (in thousands):

Fiscal Year	Finance Lease Costs		Operating Lease Costs		Expected Sublease Income
2021	$	4,348	$	32,456	$	10,246
2022		4,344		31,973		10,073
2023		4,338		26,251		9,778
2024		3,361		21,730		9,534
2025		1,731		17,342		9,057
Thereafter		1,054		61,024		46,642
Total future minimum lease payments		19,176		190,776		95,330
Less imputed interest		(2,100)		(42,572)		—
Total present value of lease liabilities (a)	$	17,076	$	148,204	$	95,330

(a) Excludes expected minimum lease payments of approximately $33.0 million associated with our new office in Atlanta, Georgia which is expected to commence in fiscal 2021.

Schedule of supplemental cash flow information

	Year Ended
(in thousands)		December 27, 2020		December 29, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	606	$	269
Financing cash flows from finance leases		2,139		781
Operating cash flows from operating leases (a)		37,113		40,152
Right-of-use assets obtained in exchange for new finance lease liabilities		9,152		10,199
Right-of-use assets obtained in exchange for new operating lease liabilities		30,266		20,903
Cash received from sublease income		10,545		10,139
Weighted-average remaining lease term (in years):
Finance leases		4.71		4.75
Operating leases		7.00		7.00
Weighted-average discount rate:
Finance leases		5.34%		6.38%
Operating leases		6.65%		6.94%
(a) Included within the change in Other assets and liabilities within the Consolidated Statements of Cash Flows offset by non-cash operating lease right-of-use asset amortization and lease liability accretion.