v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 29, 2026
Leases [Abstract]  
Schedule of Lease Assets and Liabilities
The following table summarizes finance and operating lease assets and liabilities recognized in the Company's condensed consolidated balance sheets at March 29, 2026, and December 28, 2025:
(in thousands)ClassificationMarch 29,
2026		December 28, 2025
Assets
Finance leasesProperty and equipment, net$51,201 $48,755 
Operating leasesOperating lease right-of-use assets655,830 641,529 
Total lease assets$707,031 $690,284 
Liabilities
Current
Finance leasesFinance lease liabilities, current portion$14,230 $15,201 
Operating leasesOperating lease liabilities, current portion102,200 100,563 
Noncurrent
Finance leasesFinance lease liabilities, noncurrent portion47,266 44,254 
Operating leasesOperating lease liabilities, noncurrent portion696,250 678,800 
Total lease liabilities$859,946 $838,818 
Schedule of Lease Expense
The following table summarizes lease expense recognized in the Company's condensed consolidated statements of operations and comprehensive income for the three-month fiscal periods ended March 29, 2026 and March 30, 2025:
Three-Month Fiscal Period Ended
(in thousands)March 29, 2026March 30, 2025
Operating lease cost
Fixed$37,325 $33,015 
Variable181 149 
Finance lease cost
Amortization of assets3,141 2,365 
Interest on lease liabilities875 578 
Short-term lease cost816 225 
Total lease expense$42,338 $36,332 
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information related to leases is as follows:
Three-Month Fiscal Period Ended
(in thousands)March 29, 2026March 30, 2025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases
$40,140 $35,824 
Operating cash flows from finance leases
4,420 578 
Financing cash flows from finance leases
3,545 2,574 
Right-of-use assets obtained in exchange for lease obligations
Finance leases
5,586 — 
Operating leases
34,606 24,120 
Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate
The weighted average remaining lease term and weighted average discount rate for finance and operating leases at March 29, 2026, and March 30, 2025, were:
March 29, 2026March 30, 2025
Weighted average remaining lease term (in years)
Finance leases4.84.0
Operating leases7.56.9
Weighted average discount rate
Finance leases5.8%5.6%
Operating leases8.6%8.9%
Schedule of Future Minimum Lease Payments for Operating Leases
The following table summarizes the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancellable leases with terms of more than one year that are recognized in the Company's condensed consolidated balance sheet at March 29, 2026:
(in thousands)Operating LeasesFinance Leases
Remainder of 2026$124,494 $14,925 
2027166,116 14,230 
2028156,764 11,106 
2029138,920 10,028 
2030120,463 9,298 
203199,988 2,969 
Thereafter289,544 7,814 
Total undiscounted future minimum$1,096,289 $70,370 
Less: Amount representing interest297,839 8,874 
Total present value of lease obligations$798,450 $61,496 
Schedule of Future Minimum Lease Payments for Finance Leases
The following table summarizes the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancellable leases with terms of more than one year that are recognized in the Company's condensed consolidated balance sheet at March 29, 2026:
(in thousands)Operating LeasesFinance Leases
Remainder of 2026$124,494 $14,925 
2027166,116 14,230 
2028156,764 11,106 
2029138,920 10,028 
2030120,463 9,298 
203199,988 2,969 
Thereafter289,544 7,814 
Total undiscounted future minimum$1,096,289 $70,370 
Less: Amount representing interest297,839 8,874 
Total present value of lease obligations$798,450 $61,496