Leases (Tables)
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6 Months Ended |
Jul. 01, 2023 |
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| Leases [Abstract] |
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| Lease, Cost |
The components of operating and finance lease costs for the thirteen and twenty-six weeks ended July 1, 2023 and thirteen and twenty-six weeks ended June 25, 2022 were as follows:
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Thirteen Weeks Ended
July 1, 2023 |
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Thirteen Weeks Ended
June 25, 2022 |
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Twenty-six Weeks Ended
July 1, 2023 |
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Twenty-six Weeks Ended
June 25, 2022 |
| Operating lease costs |
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$ |
5,596 |
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$ |
4,953 |
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$ |
11,043 |
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$ |
9,948 |
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| Short term lease costs |
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1,743 |
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2,135 |
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3,092 |
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3,987 |
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| Variable lease costs |
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641 |
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551 |
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976 |
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877 |
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| Finance lease costs: |
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| Amortization of right of use assets |
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588 |
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332 |
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1,094 |
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597 |
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| Interest on lease liabilities |
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60 |
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27 |
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96 |
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53 |
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July 1, 2023 |
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December 31, 2022 |
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Operating Leases |
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Finance Leases |
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Operating Leases |
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Finance Leases |
| Weighted average remaining lease term |
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6.76 |
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2.72 |
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6.13 |
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2.65 |
| Weighted average discount rate |
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7.21 |
% |
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4.42 |
% |
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7.22 |
% |
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2.99 |
% |
Supplemental cash flow information related to the Company's operating leases was as follows for the twenty-six weeks ended July 1, 2023 and twenty-six weeks ended June 25, 2022:
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Twenty-six Weeks Ended
July 1, 2023 |
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Twenty-six Weeks Ended
June 25, 2022 |
| Cash paid for amounts included in the measurement of lease liabilities: |
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| Operating cash outflow from operating leases |
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$ |
10,038 |
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$ |
9,637 |
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| Operating cash outflow from finance leases |
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87 |
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53 |
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| Financing cash outflow from finance leases |
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1,039 |
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556 |
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| Assets and Liabilities, Lessee |
Supplemental balance sheet information related to the Company's finance leases was as follows as of July 1, 2023 and December 31, 2022:
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July 1, 2023 |
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December 31, 2022 |
| Finance lease assets, net, included in property plant and equipment |
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$ |
5,635 |
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$ |
4,540 |
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| Current portion of long-term debt |
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2,330 |
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1,862 |
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| Long-term debt, less current portion |
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3,405 |
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2,767 |
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| Total principal payable on finance leases |
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$ |
5,735 |
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$ |
4,629 |
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| Lessee, Operating Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of July 1, 2023:
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Operating Leases |
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Finance Leases |
| Less than one year |
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$ |
19,611 |
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$ |
2,539 |
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| 1 to 2 years |
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19,228 |
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1,995 |
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| 2 to 3 years |
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18,292 |
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1,212 |
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| 3 to 4 years |
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17,341 |
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253 |
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| 4 to 5 years |
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15,571 |
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97 |
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| After 5 years |
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32,558 |
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11 |
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| Total future minimum rental commitments |
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122,601 |
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6,107 |
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| Less - amounts representing interest |
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(25,184) |
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(372) |
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| Present value of lease liabilities |
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$ |
97,417 |
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$ |
5,735 |
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| Lessee, Financing Lease, Liability Maturity |
Maturities of our lease liabilities for all operating and finance leases are as follows as of July 1, 2023:
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Operating Leases |
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Finance Leases |
| Less than one year |
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$ |
19,611 |
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$ |
2,539 |
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| 1 to 2 years |
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19,228 |
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1,995 |
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| 2 to 3 years |
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18,292 |
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1,212 |
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| 3 to 4 years |
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17,341 |
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253 |
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| 4 to 5 years |
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15,571 |
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97 |
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| After 5 years |
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32,558 |
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11 |
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| Total future minimum rental commitments |
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122,601 |
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6,107 |
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| Less - amounts representing interest |
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(25,184) |
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(372) |
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| Present value of lease liabilities |
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$ |
97,417 |
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$ |
5,735 |
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