v3.25.2
Leases (Tables)
6 Months Ended
Jun. 28, 2025
Leases [Abstract]  
Schedule of Operating Lease Costs Lease costs were as follows (in thousands):
Three Months Ended
Six Months Ended
June 28,
2025
June 29,
2024
June 28,
2025
June 29,
2024
Operating lease costs(1)
$26,649
$26,909
$53,186
$53,735
Variable lease costs(2)
$37
$8
$140
$(41)
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(1)Includes short-term lease costs which are not significant.
(2)Variable lease costs include adjustments to percentage rent.
Schedule of Maturities of Operating Lease Liabilities The maturities of operating lease liabilities for subsequent years are as follows(1) (in thousands):
2025 (excluding the six months ended June 28, 2025)
$52,797
2026
99,002
2027
82,575
2028
69,001
2029
48,062
2030
34,064
Thereafter
51,219
Total operating lease payments(2)
436,720
Less: Interest
66,926
Present value of operating lease liabilities
$369,794
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(1)Total operating lease payments exclude $8 million of legally binding minimum lease payments for leases signed but not yet commenced.
(2)Includes the current portion of $82 million for operating lease liabilities.
Schedule of Other Information Related Operating Leases Other information related to operating leases was as follows:
June 28,
2025
December 28,
2024
Weighted-average remaining lease term (in years)
5.2
5.4
Weighted-average discount rate
6.7%
6.6%
Six Months Ended
(in thousands)
June 28,
2025
June 29,
2024
Cash paid for amounts included in present value of operating lease liabilities
$53,092
$54,300
Right-of-use assets obtained in exchange for operating lease liabilities
$12,752
$16,313