v3.26.3
Leases
 9 Months Ended
Sep. 27, 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 CLASSIFICATIONSEPTEMBER 27, 2026DECEMBER 28, 2025
Operating lease right-of-use assetsOperating lease right-of-use assets$958,301 $979,270 
Finance lease right-of-use assets (1)Property, fixtures and equipment, net7,037 9,296 
Total lease assets, net$965,338 $988,566 
Current operating lease liabilitiesCurrent operating lease liabilities$176,014 $176,268 
Current finance lease liabilitiesAccrued and other current liabilities3,203 3,389 
Non-current operating lease liabilitiesNon-current operating lease liabilities1,021,455 1,046,380 
Non-current finance lease liabilitiesOther long-term liabilities, net5,907 7,890 
Total lease liabilities$1,206,579 $1,233,927 
________________
(1)Net of accumulated amortization of $6.7 million and $5.4 million as of September 27, 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 (Loss) Income for the periods indicated:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATIONTHIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED
(dollars in thousands)SEPTEMBER 27, 2026SEPTEMBER 28, 2025SEPTEMBER 27, 2026SEPTEMBER 28, 2025
Operating lease cost (1)Other restaurant operating$42,657 $42,570 $127,712 $127,498 
Variable lease costOther restaurant operating1,109 908 3,195 3,394 
Finance lease costs:
Amortization of leased assetsDepreciation and amortization673 738 2,041 2,178 
Interest on lease liabilitiesInterest expense, net167 267 540 767 
Sublease revenueFranchise and other revenues(1,598)(1,641)(4,753)(5,088)
Lease costs, net$43,008 $42,842 $128,735 $128,749 
________________
(1)Excludes rent expense for office facilities and closed or subleased properties of $3.1 million and $3.2 million for the thirteen weeks ended September 27, 2026 and September 28, 2025, respectively, and $9.5 million and $10.3 million for the thirty-nine weeks ended September 27, 2026 and September 28, 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:
THIRTY-NINE WEEKS ENDED
(dollars in thousands)SEPTEMBER 27, 2026SEPTEMBER 28, 2025
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities$139,405 $137,116 
Leased assets obtained in exchange for new operating lease liabilities$46,070 $44,878 
Leased assets obtained in exchange for new finance lease liabilities$— $4,431 
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 CLASSIFICATIONSEPTEMBER 27, 2026DECEMBER 28, 2025
Operating lease right-of-use assetsOperating lease right-of-use assets$958,301 $979,270 
Finance lease right-of-use assets (1)Property, fixtures and equipment, net7,037 9,296 
Total lease assets, net$965,338 $988,566 
Current operating lease liabilitiesCurrent operating lease liabilities$176,014 $176,268 
Current finance lease liabilitiesAccrued and other current liabilities3,203 3,389 
Non-current operating lease liabilitiesNon-current operating lease liabilities1,021,455 1,046,380 
Non-current finance lease liabilitiesOther long-term liabilities, net5,907 7,890 
Total lease liabilities$1,206,579 $1,233,927 
________________
(1)Net of accumulated amortization of $6.7 million and $5.4 million as of September 27, 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 (Loss) Income for the periods indicated:
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME CLASSIFICATIONTHIRTEEN WEEKS ENDEDTHIRTY-NINE WEEKS ENDED
(dollars in thousands)SEPTEMBER 27, 2026SEPTEMBER 28, 2025SEPTEMBER 27, 2026SEPTEMBER 28, 2025
Operating lease cost (1)Other restaurant operating$42,657 $42,570 $127,712 $127,498 
Variable lease costOther restaurant operating1,109 908 3,195 3,394 
Finance lease costs:
Amortization of leased assetsDepreciation and amortization673 738 2,041 2,178 
Interest on lease liabilitiesInterest expense, net167 267 540 767 
Sublease revenueFranchise and other revenues(1,598)(1,641)(4,753)(5,088)
Lease costs, net$43,008 $42,842 $128,735 $128,749 
________________
(1)Excludes rent expense for office facilities and closed or subleased properties of $3.1 million and $3.2 million for the thirteen weeks ended September 27, 2026 and September 28, 2025, respectively, and $9.5 million and $10.3 million for the thirty-nine weeks ended September 27, 2026 and September 28, 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:
THIRTY-NINE WEEKS ENDED
(dollars in thousands)SEPTEMBER 27, 2026SEPTEMBER 28, 2025
Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities$139,405 $137,116 
Leased assets obtained in exchange for new operating lease liabilities$46,070 $44,878 
Leased assets obtained in exchange for new finance lease liabilities$— $4,431