Domino's Pizza (DPZ) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 28, 2021	Apr. 22, 2021
Cover [Abstract]
Document Type	10-Q
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0001286681
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Document Period End Date	Mar. 28, 2021
Entity Registrant Name	DOMINOS PIZZA INC
Entity File Number	001-32242
Current Fiscal Year End Date	--01-02
Entity Tax Identification Number	38-2511577
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	30 Frank Lloyd Wright Drive
Entity Address, City or Town	Ann Arbor
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48105
City Area Code	734
Local Phone Number	930-3030
Trading Symbol	DPZ
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		38,828,393

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021	[1]
Current assets:
Cash and cash equivalents	$ 267,719	$ 168,821
Restricted cash and cash equivalents	176,029	217,453
Accounts receivable, net	235,789	244,560
Inventories	63,775	66,683
Prepaid expenses and other	20,372	24,169
Advertising fund assets, restricted	162,118	147,698
Total current assets	925,802	869,384
Property, plant and equipment:
Land and buildings	88,468	88,063
Leasehold and other improvements	187,896	186,456
Equipment	299,287	292,456
Construction in progress	9,792	13,014
Property, plant and equipment, Gross	585,443	579,989
Accumulated depreciation and amortization	(292,074)	(282,625)
Property, plant and equipment, net	293,369	297,364
Other assets:
Operating lease right-of-use assets	224,359	228,268
Goodwill	15,034	15,061
Capitalized software, net	84,694	81,306
Investments	82,500	40,000
Other assets	35,376	33,881
Deferred income taxes	1,698	1,904
Total other assets	443,661	400,420
Total assets	1,662,832	1,567,168
Current liabilities:
Current portion of long-term debt	2,931	2,855
Accounts payable	95,042	94,499
Operating lease liabilities	36,058	35,861
Insurance reserves	26,971	26,377
Dividends payable	37,140	729
Advertising fund liabilities	154,963	141,175
Other accrued liabilities	148,730	169,323
Total current liabilities	501,835	470,819
Long-term liabilities:
Long-term debt, less current portion	4,116,858	4,116,018
Operating lease liabilities	198,640	202,268
Insurance reserves	38,975	37,125
Other accrued liabilities	35,129	35,244
Deferred income taxes	7,475	6,099
Total long-term liabilities	4,397,077	4,396,754
Stockholders' deficit
Common stock	388	389
Additional paid-in capital	6,612	5,122
Retained deficit	(3,240,842)	(3,303,492)
Accumulated other comprehensive loss	(2,238)	(2,424)
Total stockholders' deficit	(3,236,080)	(3,300,405)
Total liabilities and stockholders' deficit	$ 1,662,832	$ 1,567,168
[1]	The balance sheet at January 3, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Revenues:
Revenue	$ 983,698	$ 873,102
Cost of sales:
Cost of sales	594,547	532,945
Operating margin	389,151	340,157
General and administrative	91,253	88,489
U.S. franchise advertising	111,360	95,834
Income from operations	186,538	155,834
Other Income	2,500
Interest income	22	932
Interest expense	(39,422)	(39,470)
Income before provision (benefit) for income taxes	149,638	117,296
Provision (benefit) for income taxes	31,877	(4,306)
Net income	$ 117,761	$ 121,602
Earnings per share:
Common stock - basic	$ 3.04	$ 3.14
Common stock - diluted	$ 3	$ 3.07
U.S. Stores [Member] | U.S. Company-owned stores [Member]
Revenues:
Revenue	$ 112,744	$ 102,326
Cost of sales:
Cost of sales	85,742	79,388
U.S. Stores [Member] | U.S. franchise royalties and fees [Member]
Revenues:
Revenue	124,486	104,746
U.S. Stores [Member] | U.S. franchise advertising [Member]
Revenues:
Revenue	111,360	95,834
Supply Chain [Member]
Revenues:
Revenue	568,338	512,700
Cost of sales:
Cost of sales	508,805	453,557
International Franchise [Member] | International franchise royalties and fees [Member]
Revenues:
Revenue	$ 66,770	$ 57,496

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 117,761	$ 121,602
Currency translation adjustment	186	(2,326)
Comprehensive income	$ 117,947	$ 119,276

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021		Mar. 22, 2020
Cash flows from operating activities:
Net income	$ 117,761		$ 121,602
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,465		14,032
Loss on sale/disposal of assets	161		306
Amortization of debt issuance costs	1,203		1,291
Provision for deferred income taxes	1,578		702
Non-cash equity-based compensation expense	5,204		4,914
Excess tax benefits from equity-based compensation	(914)		(30,449)
Provision for losses on accounts and notes receivable	180		1,589
Changes in operating assets and liabilities	(1,634)		(23,119)
Changes in advertising fund assets and liabilities, restricted	15,347		4,490
Unrealized Gain (Loss) on Investments	(2,500)
Net cash provided by operating activities	152,851		95,358
Cash flows from investing activities:
Capital expenditures	(16,561)		(17,467)
Purchase of investments (Note 6)	(40,000)
Other	121		(426)
Net cash used in investing activities	(56,440)		(17,893)
Cash flows from financing activities:
Repayments of long-term debt and finance lease obligations	(704)		(10,849)
Proceeds from exercise of stock options	3,693		10,105
Purchases of common stock	(25,000)		(79,590)
Tax payments for restricted stock upon vesting	(1,044)		(1,796)
Payments of common stock dividends and equivalents	(64)		(80)
Other			152
Net cash used in financing activities	(23,119)		(82,058)
Effect of exchange rate changes on cash	161		(961)
Change in cash and cash equivalents, restricted cash and cash equivalents	73,453		(5,554)
Cash and cash equivalents, beginning of period	168,821	[1]	190,615
Restricted cash and cash equivalents, beginning of period	217,453	[1]	209,269
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period	115,872		84,040
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period	502,146		483,924
Cash and cash equivalents, end of period	267,719		200,801
Restricted cash and cash equivalents, end of period	176,029		189,370
Cash and cash equivalents included in advertising fund assets, restricted, end of period	131,851		88,199
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period	$ 575,599		$ 478,370
[1]	The balance sheet at January 3, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Basis of Presentation and Updat

Basis of Presentation and Updates to Significant Accounting Policies	3 Months Ended
	Mar. 28, 2021
Accounting Policies [Abstract]
Basis of Presentation and Updates to Significant Accounting Policies	1. Basis of Presentation and Updates to Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q 10-01 S-X. 10-K, 10-K”). In the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair statement have been included. Operating results for the fiscal quarter ended March 28, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending January 2, 2022.

Segment Information

Segment Information	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Segment Information	2. Segment Information The following table summarizes revenues and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which the Company refers to as Segment Income, for each of its reportable segments. Intersegment revenues are comprised of sales of food, equipment and supplies from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based. The “Other” column as it relates to Segment Income below primarily includes corporate administrative costs that are not allocable to a reportable segment, including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs. Fiscal Quarters Ended March 28, 2021 and March 22, 2020 U.S. Supply International Intersegment Other Total Revenues 2021 $ 348,590 $ 599,177 $ 66,770 $ (30,839 ) $ — $ 983,698 2020 302,906 541,639 57,496 (28,939 ) — 873,102 Segment Income 2021 $ 107,436 $ 52,552 $ 54,468 N/A $ (6,088 ) $ 208,368 2020 88,277 51,437 43,504 N/A (8,132 ) 175,086 The following table reconciles Total Segment Income to consolidated income before provision (benefit) for income taxes. Fiscal Quarter Ended March 28, March 22, Total Segment Income $ 208,368 $ 175,086 Depreciation and amortization (16,465 ) (14,032 ) Loss on sale/disposal of assets (161 ) (306 ) Non-cash (5,204 ) (4,914 ) Income from operations 186,538 155,834 Other income 2,500 — Interest income 22 932 Interest expense (39,422 ) (39,470 ) Income before provision (benefit) for income taxes $ 149,638 $ 117,296

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share Fiscal Quarter Ended March 28, March 22, Net income available to common stockholders - basic and diluted $ 117,761 $ 121,602 Basic weighted average number of shares 38,700,225 38,665,924 Earnings per share – basic $ 3.04 $ 3.14 Diluted weighted average number of shares 39,208,383 39,633,404 Earnings per share – diluted $ 3.00 $ 3.07 The denominator used in calculating diluted earnings per share for the first quarter of 2021 does not include 51,490 options to purchase common stock as the effect of including these options would have been anti-dilutive. The denominator used in calculating diluted earnings per share for the first quarter of 2021 does not include 65,967 restricted performance shares, as the performance targets for these awards had not yet been met. The denominator used in calculating diluted earnings per share for the first quarter of 2020 does not include 128,280 options to purchase common stock as the effect of including these options would have been anti-dilutive. The denominator used in calculating diluted earnings per share for the first quarter of 2020 does not include 84,765 restricted performance shares, as the performance targets for these awards had not yet been met.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Mar. 28, 2021
Federal Home Loan Banks [Abstract]
Stockholders' Deficit	4. Stockholders’ Deficit The following table summarizes changes in stockholders’ deficit for the first quarter of 2021. Common Stock Additional Paid-in Retained Accumulated Shares Amount Capital Deficit Loss Balance at January 3, 2021 38,868,350 $ 389 $ 5,122 $ (3,303,492 ) $ (2,424 ) Net income — — — 117,761 — Dividends declared on common stock and equivalents ($0.94 per share) — — — (36,475 ) — Issuance and cancellation of stock awards, net (2,755 ) — — — — Tax payments for restricted stock upon vesting (2,791 ) — (1,044 ) — — Purchases of common stock (65,870 ) (1 ) (6,363 ) (18,636 ) — Exercise of stock options 21,263 — 3,693 — — Non-cash — — 5,204 — — Currency translation adjustment — — — — 186 Balance at March 28, 2021 38,818,197 $ 388 $ 6,612 $ (3,240,842 ) $ (2,238 ) Subsequent to the first quarter, on April 27, 2021, the Company’s Board of Directors declared a $0.94 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15, 2021 , The following table summarizes changes in stockholders’ deficit for the first quarter of 2020. Common Stock Additional Paid-in Retained Accumulated Shares Amount Capital Deficit Loss Balance at December 29, 2019 38,934,009 $ 389 $ 243 $ (3,412,649 ) $ (3,742 ) Net income — — — 121,602 — Dividends declared on common stock and equivalents ($0.78 per share) — — — (30,442 ) — Issuance and cancellation of stock awards, net 1,645 — — — — Tax payments for restricted stock upon vesting (5,929 ) — (1,796 ) — — Purchases of common stock (271,064 ) (3 ) (988 ) (78,599 ) — Exercise of stock options 380,938 4 10,101 — — Non-cash — — 4,914 — — Adoption of credit losses standard — — — 1,102 — Currency translation adjustment — — — — (2,326 ) Balance at March 22, 2020 39,039,599 $ 390 $ 12,474 $ (3,398,986 ) $ (6,068 )

Recapitalization

Recapitalization	3 Months Ended
	Mar. 28, 2021
Debt Disclosure [Abstract]
Recapitalization	5. Recapitalization Subsequent to the end of the first quarter of 2021, on April 16, 2021 (the “closing date”), the Company completed a recapitalization (the “2021 Recapitalization”) in which certain of the Company’s subsidiaries issued new notes pursuant to an asset-backed securitization. The new notes consist of $ million Series 2021-1 % Fixed Rate Senior Secured Notes, Class A-2-I with an anticipated term of years (the “ A-2-I Fixed Rate Notes”), and $ billion Series 2021-1 % Fixed Rate Senior Secured Notes, Class A-2-II with an anticipated term of years (the “ A-2-II Fixed Rate Notes” and, collectively with the A-2-I Fixed Rate Notes, the “ Notes”) in an offering exempt from registration under the Securities Act of , as amended. The Notes have scheduled principal payments of $ million in , $ million in each of through , $ million in , $ million in each of and and $ 905.0 million in . Gross proceeds from the issuance of the Notes were $ billion. Concurrently, certain of the Company’s subsidiaries also issued a new variable funding note facility which allows for advances of up to $ million of Series 2021-1 Variable Funding Senior Secured Notes, Class A-1 Notes and certain other credit instruments, including letters of credit (the “2021 Variable Funding Notes”). The 2021 Variable Funding Notes were undrawn on the closing date. In connection with the issuance of the 2021 Variable Funding Notes, the Company’s previous $200.0 million variable funding note facility was canceled. A portion of proceeds from the Recapitalization was used to repay the remaining $ million in outstanding principal under the Company’s five-year floating rate notes and $ million in outstanding principal under the Company’s -year fixed rate notes, prefund a portion of the interest payable on the Notes and pay transaction fees and expenses. In connection with the repayment of the five-year floating rate notes and -year fixed rate notes, the Company expensed approximately $ million for the remaining unamortized debt issuance costs associated with these notes. Additionally, in connection with the Recapitalization, the Company capitalized $ million of debt issuance costs, which are being amortized into interest expense over the and 10-year expected terms of the Notes. As of the first quarter of and the fourth quarter of , the Company had a leverage ratio of less than x, and accordingly, did not make the previously scheduled debt amortization payment for its then outstanding notes beginning in the first quarter of 2021. Accordingly, all principal amounts of the Company’s outstanding notes have been classified as long-term debt in the consolidated balance sheet as of March 28, 2021 and January 3, 2021. Subsequent to the closing of the 2021 Recapitalization, the Company had a leverage ratio of greater than x and, accordingly, the Company resumed making the scheduled amortization payments on its notes in the second quarter of .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair Value Measurements Fair value measurements enable the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Fair Value of Cash Equivalents and Investments The fair values of the Company’s cash equivalents and investments in marketable securities are based on quoted prices in active markets for identical assets. The fair value of the Company’s Level 3 investment is not readily determinable. The fair value represents its cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairments. The following tables summarize the carrying amounts and fair values of certain assets at March 28, 2021 and January 3, 2021: At March 28, 2021 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Cash equivalents $ 194,325 $ 194,325 $ — $ — Restricted cash equivalents 104,232 104,232 — — Investments in marketable securities 13,384 13,384 — — Advertising fund cash equivalents, restricted 113,384 113,384 — — Investments 82,500 — — 82,500 At January 3, 2021 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Cash equivalents $ 151,502 $ 151,502 $ — $ — Restricted cash equivalents 126,595 126,595 — — Investments in marketable securities 13,251 13,251 — — Advertising fund cash equivalents, restricted 104,197 104,197 — — Investments 40,000 — — 40,000 During the second quarter of 2020, a subsidiary of the Company acquired a non-controlling in-substance In the first quarter of 2021, the Company invested an additional $40.0 million in Dash Brands based on Dash Brands’ achievement of certain preestablished performance conditions. additional investment. This amount was recorded in other income in the Company’s condensed consolidated statements of income. The following table summarizes the reconciliation of the carrying amount of the Company’s investment in Dash Brands from the opening balance at January 3, 2021 to the closing balance at March 28, 2021. First Quarter of 2021 Carrying Carrying January 3, Purchases Unrealized March 28, Investments $ 40,000 $ 40,000 $ 2,500 $ 82,500 Fair Value of Debt The estimated fair values of the Company’s fixed and floating rate notes are classified as Level 2 measurements, as the Company estimates the fair value amount by using available market information. The Company obtained quotes from two separate brokerage firms that are knowledgeable about the Company’s fixed and floating rate notes and, at times, trade these notes. The Company also performed its own internal analysis based on the information gathered from public markets, including information on notes that are similar to those of the Company. However, considerable judgment is required to interpret market data to estimate fair value. Accordingly, the fair value estimates presented are not necessarily indicative of the amount that the Company or the debtholders could realize in a current market exchange. The use of different assumptions and/or estimation methodologies may have a material effect on the estimated fair values stated above. Management estimated the approximate fair values of the 2015 fixed rate notes, the 2017 fixed and floating rate notes, the 2018 fixed rate notes and the 2019 fixed rate notes as follows: March 28, 2021 January 3, 2021 Principal Amount Fair Value Principal Amount Fair Value 2015 Ten-Year $ 766,000 $ 808,896 $ 766,000 $ 809,662 2017 Five-Year Fixed Rate Notes 582,000 583,164 582,000 582,582 2017 Ten-Year 970,000 1,034,020 970,000 1,035,960 2017 Five-Year Floating Rate Notes 291,000 291,291 291,000 291,000 2018 7.5-Year 415,438 436,625 415,438 437,456 2018 9.25-Year 391,000 422,671 391,000 422,280 2019 Ten-Year 668,250 703,667 668,250 712,355 The Company’s variable funding notes are a variable rate loan, and the fair value of this loan approximates book value based on the borrowing rates currently available for variable rate loans obtained from third party lending institutions. This fair value represents a Level 2 measurement. The Company did not have any outstanding borrowings under its variable funding notes at March 28, 2021 or January 3, 2021.

Revenue Disclosures

Revenue Disclosures	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Revenue Disclosures	7. Revenue Disclosures Contract Liabilities Contract liabilities primarily consist of deferred franchise fees and deferred development fees. Changes in deferred franchise fees and deferred development fees for the first quarter of 2021 and the first quarter of 2020 were as follows: Fiscal Quarter Ended March 28, March 22, Deferred franchise fees and deferred development fees at beginning of period $ 19,090 $ 20,463 Revenue recognized during the period (1,390 ) (1,417 ) New deferrals due to cash received and other 803 724 Deferred franchise fees and deferred development fees at end of period $ 18,503 $ 19,770 Advertising Fund Assets As of March 28, 2021, advertising fund assets, restricted of $162.1 million consisted of $131.9 million of cash and cash equivalents, $28.8 million of accounts receivable and $1.4 million of prepaid expenses. As of March 28, 2021, advertising fund cash and cash equivalents included $7.2 million of cash contributed from U.S. Company-owned stores that had not yet been expended. As of January 3, 2021, advertising fund assets, restricted of $147.7 million consisted of $115.9 million of cash and cash equivalents, $27.0 million of accounts receivable and $4.8 million of prepaid expenses. As of January 3, 2021, advertising fund cash and cash equivalents included $6.5 million of cash contributed from U.S. Company-owned stores that had not yet been expended.

Leases

Leases	3 Months Ended
	Mar. 28, 2021
Leases [Abstract]
Leases	8. Leases The Company leases certai n The components of operating and finance lease cost for the first quarter of 2021 and the first quarter of 2020 were as follows: Fiscal Quarter Ended March 28, March 22, Operating lease cost $ 10,424 $ 9,582 Finance lease cost: Amortization of right-of-use 919 249 Interest on lease liabilities 1,026 375 Total finance lease cost $ 1,945 $ 624 Rent expense totaled $18.2 million and $16.4 million in the first quarter of 2021 and the first quarter of 2020, respectively. Rent expense includes operating lease cost, as well as expense for non-lease Supplemental balance sheet information related to the Company’s finance leases as of March 28, 2021 and January 3, 2021 was as follows: March 28, January 3, Land and buildings $ 68,489 $ 68,084 Accumulated depreciation and amortization (10,973 ) (10,049 ) Finance lease assets, net $ 57,516 $ 58,035 Current portion of long-term debt $ 2,931 $ 2,855 Long-term debt, less current portion 57,338 57,700 Total principal payable on finance leases $ 60,269 $ 60,555 March 28, 2021 January 3, 2021 Operating Finance Operating Finance Weighted average remaining lease term 7 years 16 years 7 years 16 years Weighted average discount rate 3.7 % 6.8 % 3.7 % 6.8 % Supplemental cash flow information related to leases for the first quarter of 2021 and the first quarter of 2020 was as follows: Fiscal Quarter Ended March 28, March 22, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,187 $ 10,119 Operating cash flows from finance leases 1,026 375 Financing cash flows from finance leases 704 349 Right-of-use Operating leases 4,672 8,982 Finance leases 399 — Maturities of lease liabilities as of March 28, 2021 were as follows: Operating Finance 2021 $ 34,764 $ 4,620 2022 43,209 6,754 2023 37,620 6,274 2024 36,260 6,732 2025 29,559 6,527 Thereafter 87,007 69,983 Total future minimum rental commitments 268,419 100,890 Less – amounts representing interest (33,721 ) (40,621 ) Total lease liabilities $ 234,698 $ 60,269 As of March 28, 2021, the Company has additional leases for certain supply chain tractors and trailers that had not yet commenced with estimated future minimum rental commitments of approximately $15.7 million. These leases are expected to commence in 2021 with lease terms of up to 9 years. These undiscounted amounts are not included in the table above. The Company has guaranteed lease payments related to certain franchisees’ lease arrangements. The maximum amount of potential future payments under these guarantees was $12.0 million and $12.6 million as of March 28, 2021 and January 3, 2021, respectively. The Company does not believe these arrangements have or are likely to have a material effect on its results of operations, financial condition, revenues, expenses or liquidity.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	3 Months Ended
	Mar. 28, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	9. Supplemental Disclosures of Cash Flow Information The Company had non-cash

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 28, 2021
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	10. New Accounting Pronouncements Recently Adopted Accounting Standard Accounting Standards Update (“ASU”) 2019-12, In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”) 2019-12 Accounting Standards Not Yet Adopted The Company has considered all new accounting standards issued by the FASB. The Company has not yet completed its assessment of the following standard. ASU 2020-04, In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) 2020- 0

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Financial Information by Operating Segment	The following table summarizes revenues and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which the Company refers to as Segment Income, for each of its reportable segments. Fiscal Quarters Ended March 28, 2021 and March 22, 2020 U.S. Supply International Intersegment Other Total Revenues 2021 $ 348,590 $ 599,177 $ 66,770 $ (30,839 ) $ — $ 983,698 2020 302,906 541,639 57,496 (28,939 ) — 873,102 Segment Income 2021 $ 107,436 $ 52,552 $ 54,468 N/A $ (6,088 ) $ 208,368 2020 88,277 51,437 43,504 N/A (8,132 ) 175,086
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes	The following table reconciles Total Segment Income to consolidated income before provision (benefit) for income taxes. Fiscal Quarter Ended March 28, March 22, Total Segment Income $ 208,368 $ 175,086 Depreciation and amortization (16,465 ) (14,032 ) Loss on sale/disposal of assets (161 ) (306 ) Non-cash (5,204 ) (4,914 ) Income from operations 186,538 155,834 Other income 2,500 — Interest income 22 932 Interest expense (39,422 ) (39,470 ) Income before provision (benefit) for income taxes $ 149,638 $ 117,296

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Fiscal Quarter Ended March 28, March 22, Net income available to common stockholders - basic and diluted $ 117,761 $ 121,602 Basic weighted average number of shares 38,700,225 38,665,924 Earnings per share – basic $ 3.04 $ 3.14 Diluted weighted average number of shares 39,208,383 39,633,404 Earnings per share – diluted $ 3.00 $ 3.07

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	3 Months Ended
	Mar. 28, 2021
Federal Home Loan Banks [Abstract]
Changes in Stockholders' Deficit	The following table summarizes changes in stockholders’ deficit for the first quarter of 2021. Common Stock Additional Paid-in Retained Accumulated Shares Amount Capital Deficit Loss Balance at January 3, 2021 38,868,350 $ 389 $ 5,122 $ (3,303,492 ) $ (2,424 ) Net income — — — 117,761 — Dividends declared on common stock and equivalents ($0.94 per share) — — — (36,475 ) — Issuance and cancellation of stock awards, net (2,755 ) — — — — Tax payments for restricted stock upon vesting (2,791 ) — (1,044 ) — — Purchases of common stock (65,870 ) (1 ) (6,363 ) (18,636 ) — Exercise of stock options 21,263 — 3,693 — — Non-cash — — 5,204 — — Currency translation adjustment — — — — 186 Balance at March 28, 2021 38,818,197 $ 388 $ 6,612 $ (3,240,842 ) $ (2,238 ) Subsequent to the first quarter, on April 27, 2021, the Company’s Board of Directors declared a $0.94 per share quarterly dividend on its outstanding common stock for shareholders of record as of June 15, 2021 , The following table summarizes changes in stockholders’ deficit for the first quarter of 2020. Common Stock Additional Paid-in Retained Accumulated Shares Amount Capital Deficit Loss Balance at December 29, 2019 38,934,009 $ 389 $ 243 $ (3,412,649 ) $ (3,742 ) Net income — — — 121,602 — Dividends declared on common stock and equivalents ($0.78 per share) — — — (30,442 ) — Issuance and cancellation of stock awards, net 1,645 — — — — Tax payments for restricted stock upon vesting (5,929 ) — (1,796 ) — — Purchases of common stock (271,064 ) (3 ) (988 ) (78,599 ) — Exercise of stock options 380,938 4 10,101 — — Non-cash — — 4,914 — — Adoption of credit losses standard — — — 1,102 — Currency translation adjustment — — — — (2,326 ) Balance at March 22, 2020 39,039,599 $ 390 $ 12,474 $ (3,398,986 ) $ (6,068 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Carrying Amounts and Fair Values of Certain Assets	The fair values of the Company’s cash equivalents and investments in marketable securities are based on quoted prices in active markets for identical assets. The fair value of the Company’s Level 3 investment is not readily determinable. The fair value represents its cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairments. The following tables summarize the carrying amounts and fair values of certain assets at March 28, 2021 and January 3, 2021: At March 28, 2021 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Cash equivalents $ 194,325 $ 194,325 $ — $ — Restricted cash equivalents 104,232 104,232 — — Investments in marketable securities 13,384 13,384 — — Advertising fund cash equivalents, restricted 113,384 113,384 — — Investments 82,500 — — 82,500 At January 3, 2021 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Cash equivalents $ 151,502 $ 151,502 $ — $ — Restricted cash equivalents 126,595 126,595 — — Investments in marketable securities 13,251 13,251 — — Advertising fund cash equivalents, restricted 104,197 104,197 — — Investments 40,000 — — 40,000
Summary of reconciliation of the carrying amount of the Company's investment  in Dash Brands	The following table summarizes the reconciliation of the carrying amount of the Company’s investment in Dash Brands from the opening balance at January 3, 2021 to the closing balance at March 28, 2021. First Quarter of 2021 Carrying Carrying January 3, Purchases Unrealized March 28, Investments $ 40,000 $ 40,000 $ 2,500 $ 82,500
Schedule of Estimated Fair Value	Management estimated the approximate fair values of the 2015 fixed rate notes, the 2017 fixed and floating rate notes, the 2018 fixed rate notes and the 2019 fixed rate notes as follows: March 28, 2021 January 3, 2021 Principal Amount Fair Value Principal Amount Fair Value 2015 Ten-Year $ 766,000 $ 808,896 $ 766,000 $ 809,662 2017 Five-Year Fixed Rate Notes 582,000 583,164 582,000 582,582 2017 Ten-Year 970,000 1,034,020 970,000 1,035,960 2017 Five-Year Floating Rate Notes 291,000 291,291 291,000 291,000 2018 7.5-Year 415,438 436,625 415,438 437,456 2018 9.25-Year 391,000 422,671 391,000 422,280 2019 Ten-Year 668,250 703,667 668,250 712,355

Revenue Disclosures (Tables)

Revenue Disclosures (Tables)	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities Consist of Deferred Franchise Fees and Deferred Development Fees	Contract liabilities primarily consist of deferred franchise fees and deferred development fees. Changes in deferred franchise fees and deferred development fees for the first quarter of 2021 and the first quarter of 2020 were as follows: Fiscal Quarter Ended March 28, March 22, Deferred franchise fees and deferred development fees at beginning of period $ 19,090 $ 20,463 Revenue recognized during the period (1,390 ) (1,417 ) New deferrals due to cash received and other 803 724 Deferred franchise fees and deferred development fees at end of period $ 18,503 $ 19,770

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 28, 2021
Leases [Abstract]
Components Of Operating And Finance Lease Cost	The components of operating and finance lease cost for the first quarter of 2021 and the first quarter of 2020 were as follows: Fiscal Quarter Ended March 28, March 22, Operating lease cost $ 10,424 $ 9,582 Finance lease cost: Amortization of right-of-use 919 249 Interest on lease liabilities 1,026 375 Total finance lease cost $ 1,945 $ 624
Schedule of Supplemental Balance Sheet Information Related To Finance Leases	Supplemental balance sheet information related to the Company’s finance leases as of March 28, 2021 and January 3, 2021 was as follows: March 28, January 3, Land and buildings $ 68,489 $ 68,084 Accumulated depreciation and amortization (10,973 ) (10,049 ) Finance lease assets, net $ 57,516 $ 58,035 Current portion of long-term debt $ 2,931 $ 2,855 Long-term debt, less current portion 57,338 57,700 Total principal payable on finance leases $ 60,269 $ 60,555 March 28, 2021 January 3, 2021 Operating Finance Operating Finance Weighted average remaining lease term 7 years 16 years 7 years 16 years Weighted average discount rate 3.7 % 6.8 % 3.7 % 6.8 %
Schedule Of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow information related to leases for the first quarter of 2021 and the first quarter of 2020 was as follows: Fiscal Quarter Ended March 28, March 22, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 10,187 $ 10,119 Operating cash flows from finance leases 1,026 375 Financing cash flows from finance leases 704 349 Right-of-use Operating leases 4,672 8,982 Finance leases 399 —
Schedule Of Maturities Of Operating And Finance Leases Liabilities	Maturities of lease liabilities as of March 28, 2021 were as follows: Operating Finance 2021 $ 34,764 $ 4,620 2022 43,209 6,754 2023 37,620 6,274 2024 36,260 6,732 2025 29,559 6,527 Thereafter 87,007 69,983 Total future minimum rental commitments 268,419 100,890 Less – amounts representing interest (33,721 ) (40,621 ) Total lease liabilities $ 234,698 $ 60,269

Financial Information by Operat

Financial Information by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Segment Reporting Information [Line Items]
Revenues	$ 983,698	$ 873,102
Segment Income	208,368	175,086
Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	568,338	512,700
Operating Segments [Member] | U.S. Stores [Member]
Segment Reporting Information [Line Items]
Revenues	348,590	302,906
Segment Income	107,436	88,277
Operating Segments [Member] | Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	599,177	541,639
Segment Income	52,552	51,437
Operating Segments [Member] | International Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	66,770	57,496
Segment Income	54,468	43,504
Intersegment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	(30,839)	(28,939)
Segment Reconciling [Member]
Segment Reporting Information [Line Items]
Segment Income	$ (6,088)	$ (8,132)

Reconciliation of Total Segment

Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Segment Reconciliation [Abstract]
Total Segment Income	$ 208,368	$ 175,086
Depreciation and amortization	(16,465)	(14,032)
Loss on sale/disposal of assets	(161)	(306)
Non-cash equity-based compensation expense	(5,204)	(4,914)
Income from operations	186,538	155,834
Other Income	2,500
Interest income	22	932
Interest expense	(39,422)	(39,470)
Income before provision (benefit) for income taxes	$ 149,638	$ 117,296

Earnings Per Share (Detail)

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Earnings Per Share [Abstract]
Net income available to common stockholders - basic and diluted	$ 117,761	$ 121,602
Basic weighted average number of shares	38,700,225	38,665,924
Earnings per share – basic	$ 3.04	$ 3.14
Diluted weighted average number of shares	39,208,383	39,633,404
Earnings per share – diluted	$ 3	$ 3.07

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Stock Option [Member]
Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded from Computation of Earnings Per Share	51,490	128,280
Restricted Performance Shares [Member]
Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share, amount unvested	65,967	84,765

Recapitalization - Additional I

Recapitalization - Additional Information (Detail) $ in Thousands	Apr. 16, 2021USD ($)	Jun. 26, 2021	Mar. 28, 2021
Debt Instrument [Line Items]
Leverage ratio of total debt to earnings before interest, tax, depreciation amortization			5
Two Thousand and Twenty Variable Funding Notes
Debt Instrument [Line Items]
Variable funding notes	$ 200,000
Two Thousand and Twenty One Recapitalization
Debt Instrument [Line Items]
Scheduled principal payments in year 2021	9,300
Scheduled principal payments in year 2022	18,500
Scheduled principal payments in year 2023	18,500
Scheduled principal payments in year 2024	18,500
Scheduled principal payments in year 2025	18,500
Scheduled principal payments in year 2026	18,500
Scheduled principal payments in year 2028	804,800
Scheduled principal payments in year 2029	10,000
Scheduled principal payments in year 2030	10,000
Scheduled principal payments in year 2031	905,000
Gross proceeds from the issuance of debt	1,850
Debt issuance costs	14,900
Two Thousand and Twenty One Recapitalization | Subsequent Event [Member]
Debt Instrument [Line Items]
Leverage ratio of total debt to earnings before interest, tax, depreciation amortization		5
Two Thousand and Twenty One Recapitalization | Two Thousand and Twenty One A2I Fixed Rate Notes
Debt Instrument [Line Items]
Debt instrument face amount	$ 850,000
Debt instrument, stated percentage	2.662%
Debt instrument, term	7 years 6 months
Two Thousand and Twenty One Recapitalization | Two Thousand and Twenty One  A2II Fixed Rate Notes
Debt Instrument [Line Items]
Debt instrument face amount	$ 1,000,000
Debt instrument, term	10 years
Two Thousand and Twenty One Recapitalization | Two Thousand and Twenty Variable Funding Notes
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.151%
Variable funding notes	$ 200,000
Two Thousand and Twenty One Recapitalization | DPZ Class A2i Series One Floating Rate Senior Secured Notes
Debt Instrument [Line Items]
Repayment of Outstanding Principal portion of debt	291,000
Two Thousand and Twenty One Recapitalization | DPZ Class A2ii Series One Three Point Zero Eight Two Percent Fixed Rate Senior Secured Notes
Debt Instrument [Line Items]
Repayment of Outstanding Principal portion of debt	582,000
DPZ Two Thousand Seventeen Recapitalization
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 2,000

Stockholders' Deficit - Additio

Stockholders' Deficit - Additional Information (Detail) - $ / shares	Apr. 27, 2021	Mar. 28, 2021	Mar. 22, 2020
Dividends declared per share		$ 0.94	$ 0.78
Subsequent Event [Member]
Dividends declared per share	$ 0.94
Record date of dividend	Jun. 15, 2021
Dividend declared date	Apr. 27, 2021
Dividend payable date	Jun. 30, 2021

Stockholders' Deficit (Detail)

Stockholders' Deficit (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 28, 2021	Mar. 22, 2020
Stockholders' Deficit [Line Items]
Balance	[1]	$ (3,300,405)
Net income		117,761	$ 121,602
Balance		$ (3,236,080)
Common Stock [Member]
Stockholders' Deficit [Line Items]
Balance (in shares)		38,868,350	38,934,009
Balance		$ 389	$ 389
Issuance and cancellation of stock awards, net (in shares)		(2,755)	1,645
Tax payments for restricted stock upon vesting, (in shares)		(2,791)	(5,929)
Purchases of common stock, (in shares)		(65,870)	(271,064)
Purchases of common stock		$ (1)	$ (3)
Exercises of stock options, (in shares)		21,263	380,938
Exercises of stock options			$ 4
Balance (in shares)		38,818,197	39,039,599
Balance		$ 388	$ 390
Additional Paid-in Capital [Member]
Stockholders' Deficit [Line Items]
Balance		5,122	243
Tax payments for restricted stock upon vesting		(1,044)	(1,796)
Purchases of common stock		(6,363)	(988)
Exercises of stock options		3,693	10,101
Non-cash equity-based compensation expense		5,204	4,914
Balance		6,612	12,474
Retained Deficit [Member]
Stockholders' Deficit [Line Items]
Balance		(3,303,492)	(3,412,649)
Net income		117,761	121,602
Dividends declared on common stock and equivalents		(36,475)	(30,442)
Purchases of common stock		(18,636)	(78,599)
Adoption of credit losses standard			1,102
Balance		(3,240,842)	(3,398,986)
Accumulated Other Comprehensive Income (Loss) [Member]
Stockholders' Deficit [Line Items]
Balance		(2,424)	(3,742)
Currency translation adjustment		186	(2,326)
Balance		$ (2,238)	$ (6,068)
[1]	The balance sheet at January 3, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Stockholders' Deficit (Parenthe

Stockholders' Deficit (Parenthetical) (Detail) - $ / shares	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Dividends declared per share	$ 0.94	$ 0.78

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Dash Brands Ltd [Member] - USD ($) $ in Millions	Mar. 28, 2021	Jun. 14, 2020
Acquisition of non-controlling interest	$ 40	$ 40
Adjustments to the carrying amount of equity securities	2.5
Investments at carrying value	$ 40

Carrying Amounts and Fair Value

Carrying Amounts and Fair Values of Certain Assets (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	$ 194,325	$ 151,502
Restricted cash equivalents, carrying amount	104,232	126,595
Investments in marketable securities, carrying amount	13,384	13,251
Advertising fund cash equivalents, restricted, carrying amount	113,384	104,197
Inverstments	82,500	40,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	194,325	151,502
Restricted cash equivalents, carrying amount	104,232	126,595
Investments in marketable securities, carrying amount	13,384	13,251
Advertising fund cash equivalents, restricted, fair value	113,384	104,197
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Inverstments	$ 82,500	$ 40,000

Summary of reconciliation of th

Summary of reconciliation of the carrying amount of the Company's investment in Dash Brands - (Detail) - DPZ Dash Brands Ltd [Member] $ in Thousands	3 Months Ended
	Mar. 28, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 40,000
Additional Purchase of Equity Securities Without Readily Determinable Fair Value Amount	40,000
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	2,500
Equity Securities without Readily Determinable Fair Value, Amount	$ 82,500

Schedule of Estimated Fair Valu

Schedule of Estimated Fair Value (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021
2015 Ten-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 766,000	$ 766,000
Fair Value	808,896	809,662
2017 Five-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	582,000	582,000
Fair Value	583,164	582,582
2017 Ten-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	970,000	970,000
Fair Value	1,034,020	1,035,960
2017 Five-Year Floating Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	291,000	291,000
Fair Value	291,291	291,000
2018 7.5-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	415,438	415,438
Fair Value	436,625	437,456
2018 9.25-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	391,000	391,000
Fair Value	422,671	422,280
2019 Ten-Year Fixed Rate Notes [Member]
Debt Instrument [Line Items]
Principal Amount	668,250	668,250
Fair Value	$ 703,667	$ 712,355

Schedule of Contract Liabilitie

Schedule of Contract Liabilities Consist of Deferred Franchise Fees and Deferred Development Fees (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Revenue from Contract with Customer [Abstract]
Deferred franchise fees and deferred development fees at beginning of period	$ 19,090	$ 20,463
Revenue recognized during the period	(1,390)	(1,417)
New deferrals due to cash received and other	803	724
Deferred franchise fees and deferred development fees at end of period	$ 18,503	$ 19,770

Revenue Disclosures - Additiona

Revenue Disclosures - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021
Advertising fund assets restricted	$ 162,118	$ 147,698	[1]
U.S. stores [Member] | U.S. franchise stores [Member] | Cash, cash equivalents and investments [Member]
Advertising fund assets restricted	131,900	115,900
U.S. stores [Member] | U.S. franchise stores [Member] | Prepaid expenses [Member]
Advertising fund assets restricted	1,400	4,800
U.S. stores [Member] | U.S. franchise stores [Member] | Accounts receivable [Member]
Advertising fund assets restricted	28,800	27,000
U.S. stores [Member] | U.S. Company-owned stores [Member]
Cash contributed from Company-owned stores	$ 7,200	$ 6,500
[1]	The balance sheet at January 3, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Components of Operating and Fin

Components of Operating and Finance Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Operating lease cost	$ 10,424	$ 9,582
Finance lease cost:
Amortization of right-of-use assets	919	249
Interest on lease liabilities	1,026	375
Total finance lease cost	$ 1,945	$ 624

Supplemental balance sheet info

Supplemental balance sheet information related to the Company's leases (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021
Land and buildings	$ 68,489	$ 68,084
Accumulated depreciation and amortization	(10,973)	(10,049)
Finance lease assets, net	57,516	58,035
Current portion of long-term debt	2,931	2,855
Long-term debt, less current portion	57,338	57,700
Total principal payable on finance leases	$ 60,269	$ 60,555
Finance Lease, Weighted Average Remaining Lease Term	16 years	16 years
Finance Lease, Weighted Average Discount Rate, Percent	6.80%	6.80%
Operating Lease, Weighted Average Remaining Lease Term	7 years	7 years
Operating Lease, Weighted Average Discount Rate, Percent	3.70%	3.70%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 10,187	$ 10,119
Operating cash flows from finance leases	1,026	375
Financing cash flows from finance leases	704	349
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,672	8,982
Finance leases	$ 399	$ 0

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 28, 2021	Jan. 03, 2021
Leases [Abstract]
2021	$ 34,764
2022	43,209
2023	37,620
2024	36,260
2025	29,559
Thereafter	87,007
Total future minimum rental commitments	268,419
Less – amounts representing interest	(33,721)
Total lease liabilities	234,698
2021	4,620
2022	6,754
2023	6,274
2024	6,732
2025	6,527
Thereafter	69,983
Total future minimum rental commitments	100,890
Less – amounts representing interest	(40,621)
Total principal payable on finance leases	$ 60,269	$ 60,555

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2021	Mar. 22, 2020	Jan. 03, 2021
Rent Expenses	$ 18.2	$ 16.4
Potential future payments	12		$ 12.6
Operating Lease [Member]
Lessee, operating lease, lease not yet commenced, future minimum rental commitments	$ 15.7
Lease Term	9 years

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Jan. 03, 2021
Schedule of Cash Flow, Supplemental [Line Items]
Capital expenditure accrual	$ 3.1	$ 4.3