Independent Operator Notes and Independent Operator Receivables (Tables)
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6 Months Ended |
Jun. 28, 2025 |
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| Receivables [Abstract] |
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| Schedule of Amounts Due from Independent Operators |
Amounts due from IOs and the related allowances as of June 28, 2025 and December 28, 2024 consisted of the following (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Allowance | | Net | | Gross | | Current Portion | | Long-term Portion | | Total | | Current Portion | | Long-term Portion | | June 28, 2025 | | | | | | | | | | | | | Independent operator notes | $ | 51,505 | | | $ | (335) | | | $ | (12,091) | | | $ | 39,079 | | | $ | 1,820 | | | $ | 37,259 | | | Independent operator receivables | 27,455 | | | (9,445) | | | (1,307) | | | 16,703 | | | 14,359 | | | 2,344 | | | Total | $ | 78,960 | | | $ | (9,780) | | | $ | (13,398) | | | $ | 55,782 | | | $ | 16,179 | | | $ | 39,603 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Allowance | | Net | | Gross | | Current Portion | | Long-term Portion | | Total | | Current Portion | | Long-term Portion | | December 28, 2024 | | | | | | | | | | | | | Independent operator notes | $ | 46,917 | | | $ | (368) | | | $ | (11,454) | | | $ | 35,095 | | | $ | 471 | | | $ | 34,624 | | | Independent operator receivables | 24,054 | | | (5,402) | | | (1,255) | | | 17,397 | | | 15,580 | | | 1,817 | | | Total | $ | 70,971 | | | $ | (5,770) | | | $ | (12,709) | | | $ | 52,492 | | | $ | 16,051 | | | $ | 36,441 | |
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| Schedule of Allowance for Credit Loss Activity |
A summary of activity in the IO notes and IO receivables allowance was as follows (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | 13 Weeks Ended | | 26 Weeks Ended | | June 28,
2025 | | June 29,
2024 | | June 28,
2025 | | June 29,
2024 | | Beginning balance | $ | 21,611 | | | $ | 16,007 | | | $ | 18,479 | | | $ | 16,151 | | | Provision for IO notes and IO receivables reserves | 3,291 | | | 1,338 | | | 6,574 | | | 1,891 | | | | | | | | | | | Write-off of uncollectible IO notes and IO receivables | (1,724) | | | (781) | | | (1,875) | | | (1,478) | | Ending balance | $ | 23,178 | | | $ | 16,564 | | | $ | 23,178 | | | $ | 16,564 | |
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| Schedule of Independent Operator Notes by Credit Quality Indicators and Year of Origination |
The following table presents the outstanding gross balance of IO notes by fiscal year of origination and credit quality indicator as of June 28, 2025 (amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Fiscal Year of Origination | | | | Credit Quality Indicator | 2025 (YTD) | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Total | | TCAP | $ | 1,605 | | | $ | 4,347 | | | $ | 4,581 | | | $ | 4,452 | | | $ | 1,539 | | | $ | 2,167 | | | $ | 18,691 | | | Non-TCAP | 3,466 | | | 4,973 | | | 3,908 | | | 4,072 | | | 3,074 | | | 3,692 | | | 23,185 | | | New store | 5,232 | | | 4,397 | | | — | | | — | | | — | | | — | | | 9,629 | | | Total | $ | 10,303 | | | $ | 13,717 | | | $ | 8,489 | | | $ | 8,524 | | | $ | 4,613 | | | $ | 5,859 | | | $ | 51,505 | |
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