v3.26.1
Leases
 6 Months Ended
Jun. 28, 2026
Leases [Abstract]  
Leases Leases
The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:
(dollars in thousands)CONSOLIDATED BALANCE SHEETS CLASSIFICATIONJUNE 28, 2026DECEMBER 28, 2025
Operating lease right-of-use assetsOperating lease right-of-use assets$967,380 $979,270 
Finance lease right-of-use assets (1)Property, fixtures and equipment, net7,923 9,296 
Total lease assets, net$975,303 $988,566 
Current operating lease liabilitiesCurrent operating lease liabilities$176,821 $176,268 
Current finance lease liabilitiesAccrued and other current liabilities3,303 3,389 
Non-current operating lease liabilitiesNon-current operating lease liabilities1,033,036 1,046,380 
Non-current finance lease liabilitiesOther long-term liabilities, net6,493 7,890 
Total lease liabilities$1,219,653 $1,233,927 
________________
(1)Net of accumulated amortization of $6.0 million and $5.4 million as of June 28, 2026 and December 28, 2025, respectively.
Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATIONTHIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDED
(dollars in thousands)JUNE 28, 2026JUNE 29, 2025JUNE 28, 2026JUNE 29, 2025
Operating lease cost (1)Other restaurant operating$42,604 $42,623 $85,055 $84,928 
Variable lease costOther restaurant operating913 1,294 2,086 2,486 
Finance lease costs:
Amortization of leased assetsDepreciation and amortization673 750 1,368 1,440 
Interest on lease liabilitiesInterest expense, net180 261 373 500 
Sublease revenueFranchise and other revenues(1,681)(1,745)(3,155)(3,447)
Lease costs, net$42,689 $43,183 $85,727 $85,907 
________________
(1)Excludes rent expense for office facilities and closed or subleased properties of $3.1 million and $3.4 million for the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively, and $6.4 million and $7.0 million for the twenty-six weeks ended June 28, 2026 and June 29, 2025, respectively, which is included in General and administrative expense.

The following table is a summary of supplemental information related to leases for the periods indicated:
TWENTY-SIX WEEKS ENDED
(dollars in thousands)JUNE 28, 2026JUNE 29, 2025
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities$92,334 $91,977 
Leased assets obtained in exchange for new operating lease liabilities$32,956 $42,892 
Leased assets obtained in exchange for new finance lease liabilities$— $5,629 
Leases Leases
The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:
(dollars in thousands)CONSOLIDATED BALANCE SHEETS CLASSIFICATIONJUNE 28, 2026DECEMBER 28, 2025
Operating lease right-of-use assetsOperating lease right-of-use assets$967,380 $979,270 
Finance lease right-of-use assets (1)Property, fixtures and equipment, net7,923 9,296 
Total lease assets, net$975,303 $988,566 
Current operating lease liabilitiesCurrent operating lease liabilities$176,821 $176,268 
Current finance lease liabilitiesAccrued and other current liabilities3,303 3,389 
Non-current operating lease liabilitiesNon-current operating lease liabilities1,033,036 1,046,380 
Non-current finance lease liabilitiesOther long-term liabilities, net6,493 7,890 
Total lease liabilities$1,219,653 $1,233,927 
________________
(1)Net of accumulated amortization of $6.0 million and $5.4 million as of June 28, 2026 and December 28, 2025, respectively.
Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATIONTHIRTEEN WEEKS ENDEDTWENTY-SIX WEEKS ENDED
(dollars in thousands)JUNE 28, 2026JUNE 29, 2025JUNE 28, 2026JUNE 29, 2025
Operating lease cost (1)Other restaurant operating$42,604 $42,623 $85,055 $84,928 
Variable lease costOther restaurant operating913 1,294 2,086 2,486 
Finance lease costs:
Amortization of leased assetsDepreciation and amortization673 750 1,368 1,440 
Interest on lease liabilitiesInterest expense, net180 261 373 500 
Sublease revenueFranchise and other revenues(1,681)(1,745)(3,155)(3,447)
Lease costs, net$42,689 $43,183 $85,727 $85,907 
________________
(1)Excludes rent expense for office facilities and closed or subleased properties of $3.1 million and $3.4 million for the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively, and $6.4 million and $7.0 million for the twenty-six weeks ended June 28, 2026 and June 29, 2025, respectively, which is included in General and administrative expense.

The following table is a summary of supplemental information related to leases for the periods indicated:
TWENTY-SIX WEEKS ENDED
(dollars in thousands)JUNE 28, 2026JUNE 29, 2025
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities$92,334 $91,977 
Leased assets obtained in exchange for new operating lease liabilities$32,956 $42,892 
Leased assets obtained in exchange for new finance lease liabilities$— $5,629