Leases (Tables)

12 Months Ended

Jan. 03, 2026

Lease costs were as follows (in thousands):


	2025	2024	2023
Operating lease costs(1)	$104,797	$107,049	$113,510
Variable lease costs(2)	$174	$43	$278

(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 as of January 3, 2026, were as follows(1) (in thousands):


2026	$102,010
2027	88,395
2028	75,387
2029	53,696
2030	39,629
Thereafter	56,863
Total operating lease payments(2)	415,980
Less: Interest	61,678
Present value of operating lease liabilities	$354,302

(1)Total operating lease payments exclude $3 million of legally binding minimum lease payments for leases signed but not yet commenced.

(2)Includes the current portion of $81 million for operating lease liabilities.

Schedule of Other Information Related Operating Leases

Other information related to operating leases was as follows:


	January 3, 2026	December 28, 2024
Weighted-average remaining lease term (years)	5.0	5.4
Weighted-average discount rate	6.7%	6.6%


(in thousands)	2025	2024	2023
Cash paid for amounts included in present value of operating lease liabilities(1)	$105,915	$108,116	$108,294
Right-of-use assets obtained in exchange for operating lease liabilities	$58,281	$57,712	$69,396

(1)Cash paid for amounts included in present value of operating lease liabilities are included within the change in other accruals and liabilities within the

Consolidated Statement of Cash Flows offset by non-cash right-of-use asset amortization and lease liability accretion.