Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

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Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 28, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Components of Lease Expense
The table below presents components of lease expense for operating leases.
Thirteen Weeks Ended
in thousands Classification March 28, 2024 March 30, 2023
Fixed operating lease cost: Selling and store operating $ 42,735  $ 38,144 
Cost of sales 6,452  6,258 
Pre-opening 3,063  3,066 
General and administrative 1,029  1,072 
Total fixed operating lease cost $ 53,279  $ 48,540 
Variable lease cost (1): Selling and store operating $ 18,092  $ 14,486 
Cost of sales 1,283  1,119 
Pre-opening 173  131 
General and administrative 579  303 
Total variable lease cost $ 20,127  $ 16,039 
Sublease income Cost of sales (682) (679)
Total operating lease cost (2) $ 72,724  $ 63,900 
(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 weeks ended March 28, 2024 and March 30, 2023.
Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases
Future minimum lease payments under non-cancelable operating leases as of March 28, 2024 were as follows:
in thousands Amount
Thirty-nine weeks ending December 26, 2024 $ 152,243 
2025 210,965 
2026 198,137 
2027 187,562 
2028 167,828 
Thereafter 1,214,340 
Total minimum lease payments (1) (2) 2,131,075 
Less: amount of lease payments representing interest 664,169 
Present value of future minimum lease payments 1,466,906 
Less: current obligations under leases 129,150 
Long-term lease obligations $ 1,337,756 
(1) Future lease payments exclude approximately $487.9 million of legally binding minimum lease payments for operating leases signed but not yet commenced.
(2) Operating lease payments include $255.0 million related to options to extend lease terms that are reasonably certain of being exercised.