| Lease Modifications and Renewals and Lease Terminations |
The following table details lease modifications and renewals and lease terminations (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Weeks Ended |
|
|
For the Twenty-Eight Weeks Ended |
|
|
|
July 13, 2024 |
|
|
July 15, 2023 |
|
|
July 13, 2024 |
|
|
July 15, 2023 |
|
Lease modifications and renewals |
|
$ |
4,171 |
|
|
$ |
7,417 |
|
|
$ |
20,637 |
|
|
$ |
24,765 |
|
Lease terminations |
|
$ |
221 |
|
|
$ |
169 |
|
|
$ |
1,551 |
|
|
$ |
205 |
|
|
| Lease Costs Incurred By Lease Type, and/or Type Of Payment |
Lease costs incurred by lease type, and/or type of payment, and other supplemental quantitative disclosures as of and for the twelve and twenty-eight weeks ended July 13, 2024 and July 15, 2023, respectively, were as follows (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Twelve Weeks Ended |
|
|
For the Twenty-Eight Weeks Ended |
|
|
|
July 13, 2024 |
|
|
July 15, 2023 |
|
|
July 13, 2024 |
|
|
July 15, 2023 |
|
Lease cost: |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of right-of-use assets |
|
$ |
64 |
|
|
$ |
393 |
|
|
$ |
151 |
|
|
$ |
917 |
|
Interest on lease liabilities |
|
|
2 |
|
|
|
9 |
|
|
|
4 |
|
|
|
25 |
|
Operating lease cost |
|
|
16,419 |
|
|
|
14,497 |
|
|
|
37,498 |
|
|
|
33,815 |
|
Short-term lease cost |
|
|
2,724 |
|
|
|
787 |
|
|
|
3,427 |
|
|
|
1,612 |
|
Variable lease cost |
|
|
8,571 |
|
|
|
8,789 |
|
|
|
22,348 |
|
|
|
19,713 |
|
Total lease cost |
|
$ |
27,780 |
|
|
$ |
24,475 |
|
|
$ |
63,428 |
|
|
$ |
56,082 |
|
|
|
|
|
|
|
|
|
|
|
|
For the Twenty-Eight Weeks Ended |
|
|
|
July 13, 2024 |
|
|
July 15, 2023 |
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
Operating cash flows from financing leases |
|
$ |
4 |
|
|
$ |
25 |
|
Operating cash flows from operating leases |
|
$ |
41,425 |
|
|
$ |
36,627 |
|
Financing cash flows from financing leases |
|
$ |
169 |
|
|
$ |
1,052 |
|
Right-of-use assets obtained in exchange for new financing lease liabilities |
|
$ |
215 |
|
|
$ |
— |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
$ |
40,393 |
|
|
$ |
25,193 |
|
|
| Estimated Undiscounted Future Lease Payments Under Non-Cancelable Operating Leases and Financing Leases with Reconciliation of Undiscounted Cash Flows |
Estimated undiscounted future lease payments under non-cancelable operating leases and financing leases, along with a reconciliation of the undiscounted cash flows to operating and financing lease liabilities, respectively, as of July 13, 2024 (in thousands) were as follows:
|
|
|
|
|
|
|
|
|
|
|
Operating lease liabilities |
|
|
Financing lease liabilities |
|
Remainder of 2024 |
|
$ |
31,834 |
|
|
$ |
77 |
|
2025 |
|
|
74,383 |
|
|
|
50 |
|
2026 |
|
|
55,772 |
|
|
|
38 |
|
2027 |
|
|
47,553 |
|
|
|
17 |
|
2028 |
|
|
33,854 |
|
|
|
8 |
|
2029 and thereafter |
|
|
112,434 |
|
|
|
1 |
|
Total minimum lease payments |
|
|
355,830 |
|
|
|
191 |
|
Less: amount of lease payments representing interest |
|
|
(51,888 |
) |
|
|
(8 |
) |
Present value of future minimum lease payments |
|
|
303,942 |
|
|
|
183 |
|
Less: current obligations under leases |
|
|
(59,975 |
) |
|
|
(164 |
) |
Long-term lease obligations |
|
$ |
243,967 |
|
|
$ |
19 |
|
|