Leases (Tables)

9 Months Ended

Oct. 03, 2026

Leases [Abstract]

Schedule of Right-of-Use Assets and Lease Liabilities

Right-of-use (“ROU”) assets and lease liabilities balances were as follows (in thousands):


		October 3, 2026				January 3, 2026
Assets:
Operating lease right-of-use assets		$	1,867,121			$	1,500,786
Finance lease right-of-use assets			2,709				3,394
Total lease right-of-use assets		$	1,869,830			$	1,504,180
Liabilities—current:
Operating lease liabilities		$	137,097			$	146,594
Finance lease liabilities			1,059				1,022
Total current lease liabilities			138,156				147,616
Liabilities—long-term:
Operating lease liabilities			1,837,689				1,447,524
Finance lease liabilities			2,012				2,741
Total long-term lease liabilities			1,839,701				1,450,265
Total lease liabilities		$	1,977,857			$	1,597,881

Schedule of Components of Lease Expense

The components of lease expense were as follows (in thousands):


		Three Months Ended								Nine Months Ended
		October 3, 2026				September 27, 2025				October 3, 2026				September 27, 2025
Lease expense:
Operating lease expense		$	80,588			$	75,912			$	238,064			$	223,494
Finance lease expense:
Amortization of right-of-use assets			257				259				768				940
Interest on lease liabilities			67				74				218				249
Short-term lease expense			2,997				2,620				7,580				8,618
Variable lease expense			19,056				19,594				63,559				56,465
Total lease expense		$	102,965			$	98,459			$	310,189			$	289,766

Schedule of Weighted Average Remaining Lease Term and Weighted Average Discount Rate

The weighted average remaining lease term and the weighted average discount rate were as follows:


		October 3, 2026				January 3, 2026
Weighted average remaining lease term (in years) (Operating)			13				9
Weighted average remaining lease term (in years) (Finance)			4				5
Weighted average discount rate (Operating)			8.6	%			9.2	%
Weighted average discount rate (Finance)			8.3	%			8.6	%

Schedule of Maturity of Lease Liabilities

The following table summarizes the maturity of lease liabilities as of October 3, 2026 (in thousands):


		Finance Leases				Operating Leases				Total Leases
Remainder of 2026		$	314			$	58,921			$	59,235
2027			1,236				318,024				319,260
2028			709				299,716				300,425
2029			433				280,337				280,770
2030			403				259,265				259,668
Thereafter			445				2,084,867				2,085,312
Total lease payments			3,540				3,301,130				3,304,670
Less imputed interest			469				1,326,344				1,326,813
Present value of lease liabilities			3,071				1,974,786				1,977,857
Less current portion of lease liabilities			1,059				137,097				138,156
Long-term lease liabilities		$	2,012			$	1,837,689			$	1,839,701