Leases

12 Months Ended

Jul. 31, 2026

As of July 31, 2026, the Company had not entered into any agreements for real estate leases that are not recorded as right-of-use assets or lease liabilities on the Consolidated Balance Sheet.

The following table summarizes the components of lease cost for operating leases for each of the three years:


	2026		2025		2024
Operating lease cost	$	110,070	$	111,141	$	110,661
Short term lease cost		2,648		3,036		3,509
Variable lease cost		4,681		3,893		3,522
Total lease cost	$	117,399	$	118,070	$	117,692

The following table summarizes supplemental cash flow information and non-cash activity related to the Company’s operating leases for each of the three years:


	2026		2025		2024
Operating cash flow information:
Gain on sale and leaseback transaction, net	$	(47,421)	$	—	$	—
Cash paid for amounts included in the measurement of lease liabilities		98,051		98,186		97,014
Noncash information:
Right-of-use assets obtained in exchange for new operating lease liabilities		72,360		7,358		14,219
Lease modifications or reassessments increasing right-of-use assets		3,758		23,307		23,532
Lease modifications removing right-of-use assets		(5,435)		(1,002)		(2,133)
Right-of-use asset impairment*		(5,944)		(1,381)		(1,832)

*Included in the Impairment line on the Consolidated Statement of Cash Flows

The following table summarizes the weighted-average remaining lease term and the weighted-average discount rate for operating leases as of July 31, 2026, August 01, 2025 and August 02, 2024:


	2026		2025		2024
Weighted-average remaining lease term	15.22 Years		15.20 Years		15.88 Years
Weighted-average discount rate	5.79	%	5.45	%	5.38	%

The following table summarizes the maturities of undiscounted cash flows reconciled to the total operating lease liability as of July 31, 2026:


Year	Total
2027	$	86,141
2028		75,048
2029		70,886
2030		62,436
2031		62,705
Thereafter		721,291
Total future minimum lease payments		1,078,507
Less imputed remaining interest		(379,681)
Total present value of operating lease liabilities	$	698,826

Sale and Leaseback Transactions

In 2009, the Company completed sale and leaseback transactions involving 15 of its Cracker Barrel stores and its retail distribution center. Under the transactions, the land, buildings and building improvements at the locations were sold and leased back for terms of 20 and 15 years, respectively. The leases include specified renewal options for up to 20 additional years.

In 2020, the Company completed a sale and leaseback transaction involving 64 Cracker Barrel stores. Under the transaction, the land, buildings and building improvements at the locations were sold and leased back for initial terms of 20 years and renewal options up to 50 years.

In 2021, the Company completed a sale and leaseback transaction involving 62 Cracker Barrel stores. Under the transaction, the land, buildings and building improvements at the locations were sold and leased back for initial terms of 20 years and renewal options up to 50 years.

On July 17, 2026, the Company completed a sale and leaseback transaction involving 26 Cracker Barrel stores for an aggregate purchase price, net of closing costs of $77,398. Under the transaction, the land, buildings and building improvements at the locations were sold and leased back for initial terms of 20 years and renewal options up to 40 years. The aggregate initial annual lease payment for the properties is approximately $5,664, subject to a fixed annual rent increase over the initial lease term. All of the properties qualified for sale and leaseback and operating lease accounting classification, and the Company recorded a net gain of $47,421, which is recorded in the gain on sale and leaseback transaction, net line in the Consolidated Statement of Income in 2026. The Company also recorded operating lease right-of-use assets of $68,016, including a non-cash asset recognized as part of accounting for the transaction of $4,094 and corresponding operating lease liabilities of $63,922.