Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 103

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 103
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 fair value input.

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Table of Contents

10. LeasesThe Company's finance and operating lease assets and liabilities as of December 29, 2024 and December 31, 2023 as follows (in thousands):December 29, 2024Finance(1)Operating(2)Lease assets, net$5,328 $331,617 Current portion of lease obligations1,019 50,083 Long-term portion of lease obligations6,746 345,635 Total$7,765 $395,718 December 31, 2023Finance(1)Operating(2)Lease assets, net$6,264 $361,609 Current portion of lease obligations939 43,819 Long-term portion of lease obligations7,745 383,439 Total$8,684 $427,258 (1) Finance lease assets and obligations are included in Other assets, net, Accrued liabilities and other current liabilities, and Other non-current liabilities on our December 29, 2024 and December 31, 2023 Consolidated Balance Sheets.(2) Operating lease assets and obligations are included in Operating lease assets, net, Current portion of operating lease liabilities, and Long-term portion of operating lease liabilities on our December 29, 2024 and December 31, 2023 Consolidated Balance Sheets.The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and real estate taxes, are included in Occupancy on our consolidated statements of operations and comprehensive loss as follows (in thousands):Year EndedDecember 29, 2024December 31, 2023December 25, 2022Operating lease cost$75,059 $72,346 $69,879 Finance lease cost:Amortization of right of use assets(1)936 985 1,121 Interest on lease liabilities (2)438 520 583 Total finance lease cost$1,374 $1,505 $1,704 Variable lease cost19,077 19,806 18,965 Total lease costs$95,510 $93,657 $90,548 (1) Amortization of finance lease right of use assets is recorded to depreciation and amortization in our Consolidated Statements of Operations and Comprehensive Loss.(2) Interest on finance lease liabilities is recorded to interest expense in our Consolidated Statements of Operations and Comprehensive Loss.M