v3.26.1
Leases
3 Months Ended
Mar. 28, 2026
Leases [Abstract]  
Leases Leases
During each of the three months ended March 28, 2026 and March 29, 2025, the Company sold four Take 5 properties for a total of $7 million. Concurrently with the closing of these sales, the Company entered into various operating lease agreements pursuant to which the Company leased back the properties. These lease agreements each have an initial term of 20 years and provide the Company with the option of extending the lease for up to 20 additional years. The Company does not include option periods in its determination of the lease term unless renewals are deemed reasonably certain to be exercised. The Company recorded operating lease right-of-use assets and operating lease liabilities of $5 million as of March 28, 2026 and March 29, 2025 related to these lease arrangements. The Company recorded gains of less than $1 million for each of the three month periods ended March 28, 2026 and March 29, 2025.
Supplemental cash flow information related to the lease arrangements were as follows:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
As Restated
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$20,897 $19,301 
Operating cash flows used in finance leases732 307 
Financing cash flows used in finance leases1,663 1,286 
Right-of-use assets obtained in exchange for lease obligation:
Operating leases$34,115 $21,542 
Finance leases841 385 
Leases Leases
During each of the three months ended March 28, 2026 and March 29, 2025, the Company sold four Take 5 properties for a total of $7 million. Concurrently with the closing of these sales, the Company entered into various operating lease agreements pursuant to which the Company leased back the properties. These lease agreements each have an initial term of 20 years and provide the Company with the option of extending the lease for up to 20 additional years. The Company does not include option periods in its determination of the lease term unless renewals are deemed reasonably certain to be exercised. The Company recorded operating lease right-of-use assets and operating lease liabilities of $5 million as of March 28, 2026 and March 29, 2025 related to these lease arrangements. The Company recorded gains of less than $1 million for each of the three month periods ended March 28, 2026 and March 29, 2025.
Supplemental cash flow information related to the lease arrangements were as follows:
Three Months Ended
(in thousands)March 28, 2026March 29, 2025
As Restated
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases$20,897 $19,301 
Operating cash flows used in finance leases732 307 
Financing cash flows used in finance leases1,663 1,286 
Right-of-use assets obtained in exchange for lease obligation:
Operating leases$34,115 $21,542 
Finance leases841 385