Quarterly report [Sections 13 or 15(d)]

Commitments and Contingencies (Tables)

v3.26.3
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 24, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases within the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income:
Thirteen Weeks Ended Thirty-nine Weeks Ended
in thousands
Classification
 September 24, 2026 September 25, 2025 September 24, 2026 September 25, 2025
Fixed operating lease cost:
Selling, general and administrative expenses
 $ 55,145  $ 51,664  $ 163,018  $ 151,784 
Cost of sales 13,610  13,124  40,958  35,414 
Total fixed operating lease cost 68,755  64,788  203,976  187,198 
Variable lease cost (1):
Selling, general and administrative expenses
 18,866  19,973  61,644  63,482 
Cost of sales 1,955  1,986  5,503  5,713 
Total variable lease cost 20,821  21,959  67,147  69,195 
Total operating lease cost (2)
$ 89,576  $ 86,747  $ 271,123  $ 256,393 
(1)Includes variable costs for common area maintenance, property taxes, and insurance on leased real estate.
(2)Excludes short-term lease costs, which were immaterial for the thirteen and thirty-nine weeks ended September 24, 2026 and September 25, 2025.
Schedule of Future Minimum Lease Payments under Non Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of September 24, 2026 were as follows:
in thousands Amount
Fourteen weeks ending December 31, 2026 $ 65,196 
2027 274,225 
2028 255,770 
2029 241,707 
2030 220,918 
Thereafter 1,530,246 
Total minimum lease payments (1) (2)
2,588,062 
Less: amount of lease payments representing interest 789,451 
Present value of future minimum lease payments 1,798,611 
Less: current obligations under leases 168,649 
Long-term lease obligations $ 1,629,962 
(1)Future lease payments exclude approximately $44.8 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2)Operating lease payments include $288.7 million related to options to extend lease terms that are reasonably certain of being exercised.