Franchise (TAX) 10-K 28 Feb 23 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 25, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35588
Entity Registrant Name	FRANCHISE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-3561876
Entity Address, Address Line One	109 Innovation Court, Suite J
Entity Address, City or Town	Delaware,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43015
City Area Code	740
Local Phone Number	363-2222
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,097,885,557
Entity Common Stock, Shares Outstanding		34,925,773
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement for the 2023 Annual Meeting of Stockholders are incorporated by reference into Part III hereof.
Entity Central Index Key	0001528930
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Small Business	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FRG
Security Exchange Name	NASDAQ
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	7.50% Series A Cumulative Preferred Stock, par value $0.01 per share and liquidation preference of $25.00 per share
Trading Symbol	FRGAP
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Richmond, Virginia
Auditor Firm ID	34

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 80,783,000	$ 292,714,000
Current receivables, net	170,162,000	118,698,000
Securitized Receivables, Net, Current	292,913,000	369,567,000
Inventories, net	736,841,000	673,170,000
Current assets held for sale	8,528,000	0
Other current assets	27,272,000	24,063,000
Total current assets	1,316,499,000	1,478,212,000
Property, plant, and equipment, net	223,718,000	449,886,000
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	11,735,000	11,755,000
Financing Receivable, after Allowance for Credit Loss, Noncurrent	39,527,000	47,252,000
Goodwill	737,402,000	806,536,000
Intangible assets, net	116,799,000	127,951,000
Tradenames	222,703,000	222,687,000
Operating lease right-of-use assets	890,949,000	714,741,000
Investment in equity securities	11,587,000	35,249,000
Other non-current assets	59,493,000	18,902,000
Total assets	3,630,412,000	3,913,171,000
Current liabilities:
Current installments of long-term debt	6,935,000	183,924,000
Operating Lease, Liability, Current	179,519,000	173,101,000
Accounts payable and accrued expenses	376,895,000	410,552,000
Deferred revenue - current	40,541,000	50,833,000
Total current liabilities	943,911,000	1,120,656,000
Long-term debt, excluding current installments	1,374,479,000	1,278,469,000
Secured Debt, Current	340,021,000	302,246,000
Secured Long-term Debt, Noncurrent	107,448,000	105,256,000
Long-term Debt and Lease Obligation	720,474,000	557,071,000
Other Liabilities, Noncurrent	62,720,000	88,888,000
Total liabilities	3,209,032,000	3,150,340,000
Statement of Stockholders' Equity [Abstract]
Common stock	349,000	403,000
Preferred stock	45,000	45,000
Additional paid-in capital	311,069,000	475,396,000
Retained earnings	109,917,000	286,987,000
Stockholders' Equity Attributable to Parent	421,380,000	762,831,000
Total liabilities and stockholders' equity	$ 3,630,412,000	$ 3,913,171,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 25, 2021
Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	180,000,000	180,000,000
Common stock, shares issued (in shares)	34,925,773	40,296,688
Common stock, shares outstanding	34,925,773	40,296,688
Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	4,541,125	4,541,125
Preferred stock, shares outstanding (in shares)	4,541,125	4,541,125

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Revenues:
Revenues	$ 4,397,832,000	$ 3,255,204,000	$ 2,029,727,000
Operating expenses:
Total cost of revenue	2,533,344,000	1,920,799,000	1,160,108,000
Selling, general, and administrative expenses	1,573,281,000	1,108,054,000	817,108,000
Goodwill, Impairment Loss	70,000,000	0	0
Total operating expenses	4,176,625,000	3,028,853,000	1,977,216,000
Income from operations	221,207,000	226,351,000	52,511,000
Other income (expense):
Bargain purchase gain	3,514,000	132,559,000	0
Sale and Leaseback Transaction, Gain (Loss), Net	59,772,000	0	0
Other Operating Income (Expense), Net	(21,929,000)	(67,368,000)	(5,294,000)
Interest expense	(339,982,000)	(133,114,000)	(96,774,000)
Income before income taxes	(77,418,000)	158,428,000	(49,557,000)
Income tax expense	(8,845,000)	(33,538,000)	(60,501,000)
Income (loss) from continuing operations	(68,573,000)	191,966,000	10,944,000
Income (loss) from discontinued operations, net of tax	0	171,822,000	16,210,000
Net Income (Loss)	(68,573,000)	363,788,000	27,154,000
Less: Net (income) loss attributable to non-controlling interest	0	0	(2,090,000)
Net income (loss) attributable to Franchise Group, Inc.	(68,573,000)	363,788,000	25,064,000
Net income (loss) from continuing operations	(68,573,000)	191,966,000	20,645,000
Net income (loss) from discontinued operations	$ 0	$ 171,822,000	$ 4,419,000
Earnings Per Share, Basic	$ (1.96)	$ 4.56	$ 0.57
Income (Loss) from Continuing Operations, Per Diluted Share	(1.96)	4.48	0.57
Earnings Per Share, Basic	(1.96)	8.83	0.70
Earnings Per Share, Diluted	$ (1.96)	$ 8.67	$ 0.70
Weighted-average shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	39,309,855	40,199,681	34,531,362
Weighted Average Number of Shares Outstanding, Diluted	39,309,855	40,964,182	34,971,935
Product [Member]
Revenues:
Revenues	$ 3,832,291,000	$ 3,012,471,000	$ 1,899,662,000
Operating expenses:
Total cost of revenue	2,485,934,000	1,892,741,000	1,136,054,000
Service [Member]
Revenues:
Revenues	535,961,000	209,103,000	65,798,000
Operating expenses:
Total cost of revenue	36,340,000	16,506,000	2,149,000
Rental
Revenues:
Revenues	29,580,000	33,630,000	64,267,000
Operating expenses:
Total cost of revenue	$ 11,070,000	$ 11,552,000	$ 21,905,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (68,573,000)	$ 363,788,000	$ 27,154,000
Foreign currency translation adjustment	0	(381,000)	(242,000)
Unrealized (loss) gain on interest rate swap agreement, net of taxes	0	45,000	(103,000)
Reclassification of unrealized loss on interest rate swap agreement and foreign currency translation adjustments realized upon disposal of business	0	973,000	0
Other comprehensive income (loss)	0	1,399,000	139,000
Comprehensive income (loss)	(68,573,000)	365,187,000	27,293,000
Less: comprehensive (income) loss attributable to non-controlling interest	0	0	(1,915,000)
Comprehensive income (loss) attributable to Franchise Group, Inc.	$ (68,573,000)	$ 365,187,000	$ 25,378,000

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax	$ 0	$ 13	$ (24)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($)	Total	Common Stock	Preferred Stock	Preferred Stock Preferred Stock	Additional paid-in capital	Accumulated other comprehensive income (loss), net	Retained earnings	Parent	Noncontrolling Interest [Member]	Buddy's [Member]	Buddy's [Member] Common Stock	Buddy's [Member] Additional paid-in capital	Buddy's [Member] Parent	Sears Outlet [Member]	Sears Outlet [Member] Common Stock	Sears Outlet [Member] Preferred Stock	Sears Outlet [Member] Additional paid-in capital	Sears Outlet [Member] Parent	Vitamin Shoppe [Member]	Vitamin Shoppe [Member] Common Stock	Vitamin Shoppe [Member] Additional paid-in capital	Vitamin Shoppe [Member] Parent
Increase (Decrease) in Stockholders' Equity
Stockholders' Equity Attributable to Noncontrolling Interest									$ 26,370,000
Balance at beginning of period (in shares) at Dec. 28, 2019		18,250,000	1,887,000
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 28, 2019		$ 183,000	$ 19,000		$ 108,339,000	$ (1,538,000)	$ 18,388,000
Balance at beginning of period at Dec. 28, 2019	$ 151,761,000							$ 125,391,000
Increase (Decrease) in Stockholders' Equity
Net Income (Loss) Attributable to Parent	25,064,000
Net income (loss)	27,154,000
Stock-based compensation expense (in shares)		66,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	8,810,000	$ 0			8,810,000			8,810,000
Payments of Dividends	(41,286,000)						(41,286,000)	(41,286,000)
Dividends, Preferred Stock, Cash	(755,000)						(755,000)	(755,000)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	27,154,000						25,064,000
Other Comprehensive Income (Loss), Net of Tax	139,000					314,000		314,000	(175,000)
stock issued during period, shares, share based compensation , net of forfe		50,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition		$ 1,000			519,000			520,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Reconition	520,000
preferred stock, issued during period, shares																$ 1,250,000
preferred stock, issued during period, value										$ 229,015,000		$ 228,892,000	$ 229,015,000	$ 29,483,000		$ 13,000	$ 29,470,000	$ 29,483,000	$ (9,953,000)		$ (10,028,000)	$ (9,953,000)
Noncontrolling Interest in Period, Value	(2,358,000)				23,744,000
Noncontrolling Interest, Period Increase (Decrease)						(175,000)
Acquisition Costs, Period Cost, attributable to parent								23,569,000
Acquisition Costs, Period Cost, Attributable to Noncontrolling Interest									(25,927,000)
Net Income (Loss) Available to Common Stockholders, Basic	24,309,000							25,064,000
Net Income (Loss) Attributable to Noncontrolling Interest	(2,090,000)								2,090,000
Acquisition, Common stock, issued during period, shares											$ 12,292,000				$ 0					$ 9,434,000
Acquisition, Common stock, issued during period, value											$ 123,000				$ 0					$ 94,000
Stock Issued During Period, Shares, Conversion of Units				(1,887,000)
Stock Issued During Period, Value, Conversion of Convertible Securities				$ (19,000)
Adjustments to Additional Paid in Capital, Tax Receivable Agreemen	(7,363,000)				(7,363,000)			(7,363,000)
Stockholders' Equity, Other							2,358,000	2,358,000	(2,358,000)
Balance at end of period (in shares) at Dec. 26, 2020		40,092,000	1,250,000	1,250,000
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 26, 2020		$ 401,000	$ 13,000	$ 13,000	382,383,000	(1,399,000)	3,769,000
Balance at end of period at Dec. 26, 2020	385,167,000							385,167,000
Increase (Decrease) in Stockholders' Equity
Stockholders' Equity Attributable to Noncontrolling Interest									$ 0
Net Income (Loss) Attributable to Parent	363,788,000
Net income (loss)	363,788,000
Stock-based compensation expense (in shares)		145,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	12,841,000	$ 1,000			12,840,000
Payments of Dividends	(72,055,000)						(72,055,000)
Dividends, Preferred Stock, Cash	(8,515,000)						(8,515,000)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	363,788,000						363,788,000
Other Comprehensive Income (Loss), Net of Tax	1,399,000					1,399,000
stock issued during period, shares, share based compensation , net of forfe		60,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Recognition		$ 1,000			663,000
Adjustment to APIC, Share-based Compensation, Requisite Service Period Reconition	664,000
preferred stock, issued during period, shares			3,291,000
preferred stock, issued during period, value	79,542,000		$ 32,000		79,510,000
Net Income (Loss) Available to Common Stockholders, Basic	355,274,000
Net Income (Loss) Attributable to Noncontrolling Interest	0
Balance at end of period (in shares) at Dec. 25, 2021		40,297,000	4,541,000	4,541,000
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 25, 2021	762,831,000	$ 403,000	$ 45,000	$ 45,000	475,396,000	0	286,987,000
Balance at end of period at Dec. 25, 2021	762,831,000
Increase (Decrease) in Stockholders' Equity
Net Income (Loss) Attributable to Parent	(68,573,000)
Net income (loss)	(68,573,000)
Exercise of stock options (in shares)		41,000
Exercise of stock options	(310,000)	$ 1,000			(311,000)
Stock-based compensation expense (in shares)		509,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	8,384,000	$ 5,000			8,379,000
Payments of Dividends	(99,983,000)						(99,983,000)
Dividends, Preferred Stock, Cash	$ (8,514,000)						(8,514,000)
Stock Repurchased During Period, Shares	5,920,744	(5,921,000)
Stock Repurchased During Period, Value	$ (172,500,000)	$ 60,000			(172,395,000)			$ (172,455,000)
Other Comprehensive Income (Loss), Net of Tax	0
Net Income (Loss) Available to Common Stockholders, Basic	(77,087,000)
Net Income (Loss) Attributable to Noncontrolling Interest	0
Balance at end of period (in shares) at Dec. 31, 2022		34,926,000	4,541,000
Stockholders' Equity Attributable to Parent, Ending Balance at Dec. 31, 2022	421,380,000	$ 349,000	$ 45,000		$ 311,069,000	$ 0	$ 109,917,000
Balance at end of period at Dec. 31, 2022	$ 421,380,000

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Stockholders' Equity [Abstract]
Preferred Stock, Dividends Per Share, Declared	$ 1.88	$ 1.875	$ 0.609
Common Stock, Dividends, Per Share, Declared	$ 2.50	$ 1.750	$ 1.125

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Cash flows from operating activities:
Net income (loss)	$ (68,573,000)	$ 363,788,000	$ 27,154,000
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for doubtful accounts	136,978,000	8,878,000	5,930,000
Goodwill, Impairment Loss	70,000,000	0	0
Other Depreciation and Amortization	85,363,000	72,765,000	62,543,000
Amortization of deferred financing costs	17,327,000	48,552,000	30,635,000
Share-based Payment Arrangement, Noncash Expense	15,082,000	13,696,000	9,484,000
Gain (Loss) on Sale of Intangible and Other Assets	(66,078,000)	(137,747,000)	(4,133,000)
Gain (Loss) on Extinguishment of Debt	0	36,726,000	0
Gain (Loss) on Disposition of Business	0	(188,092,000)	0
Equity Securities, FV-NI, Unrealized Gain (Loss)	23,662,000	31,773,000	0
Deferred Income Taxes and Tax Credits	(74,208,000)	709,000	1,092,000
Gain (Loss) on Disposition of Other Assets	577,000	1,749,000	85,000
Changes in:
Increase (Decrease) in Accounts and Other Receivables	(58,814,000)	(10,396,000)	(19,811,000)
Increase (Decrease) in Accounts Receivable from Securitization	(50,359,000)	(8,147,000)	0
Income taxes	4,117,000	(20,191,000)	(8,059,000)
Increase (Decrease) in Other Current Assets	(3,804,000)	12,939,000	(5,573,000)
Accounts payable and accrued expenses	(29,177,000)	(12,215,000)	23,927,000
Increase (Decrease) in Inventories	(64,663,000)	(121,393,000)	97,681,000
Increase (Decrease) in Deferred Revenue	(7,396,000)	5,073,000	20,537,000
Net Cash Provided by (Used in) Operating Activities	(37,426,000)	105,969,000	241,492,000
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	(53,984,000)	(48,045,000)	(41,518,000)
Proceeds from Sale of Property, Plant, and Equipment	273,605,000	12,872,000	37,573,000
Payments to Acquire Businesses, Net of Cash Acquired	(3,843,000)	(1,063,811,000)	(353,423,000)
Proceeds from Divestiture of Businesses	0	179,471,000	0
Payments to Operating Loans to Franchisees	0	(17,749,000)	(34,136,000)
Payments received on operating loans to franchisees	0	23,103,000	50,291,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	215,778,000	(914,159,000)	(341,213,000)
Cash flows from financing activities:
Payments of Ordinary Dividends	(111,728,000)	(67,234,000)	(29,350,000)
Proceeds from Issuance of Debt	439,000,000	1,901,724,000	770,665,000
Repayments of Other Long-Term Debt	(541,406,000)	(1,261,455,000)	(741,100,000)
Proceeds from Issuance of Secured Debt	382,133,000	400,000,000	0
Repayments of Secured Debt	(374,706,000)	0	0
Proceeds from Issuance of Common Stock	0	0	198,004,000
Proceeds from Issuance of Preferred Stock and Preference Stock	0	79,542,000	29,482,000
Payments for Repurchase of Common Stock	(172,455,000)	0	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(2,673,000)	0	(4,716,000)
Payments of Debt Issuance Costs	(1,339,000)	(102,652,000)	(16,865,000)
Cash paid for taxes on exercises/vesting of stock-based compensation	(7,010,000)	(191,000)	33,000
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	(390,184,000)	949,734,000	206,153,000
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	0	36,000	(76,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(211,832,000)	141,580,000	106,356,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	81,250,000	293,082,000	151,502,000
Secured Debt
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of Debt Discount (Premium)	103,207,000	4,413,000	0
Changes in:
Increase (Decrease) in Interest Payable, Net	$ (70,667,000)	$ 3,089,000	$ 0

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows - Supplemental Disclosures - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Taxes Paid, Net	$ 65,796	$ 42,154	$ 1,858
Interest Paid, Excluding Capitalized Interest, Operating Activities	81,158	91,623	49,825
Payments to Acquire Software	3,401	3,445	5,025
Proceeds from Divestiture of Businesses, Net of Cash Divested	0	74,073	0
Payment of Financing and Stock Issuance Costs	0	0	31,013
Payments to Acquire Equipment on Lease	7,333	756	0
Taxes Receivable Agreement, Other long Term Liabilities	0	504	16,775
Secured Debt
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 91,994	$ 0	$ 0

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 80,783	$ 292,714
Restricted Cash, Noncurrent	467	368
Restricted Cash and Cash Equivalents	$ 81,250	$ 293,082

Organization and Significant Ac

Organization and Significant Accounting Policies - Text Blocks	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Description of Business . Franchise Group, Inc. (the “Company”) is an owner and operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophies to generate strong cash flows. The Company has a diversified and growing portfolio of highly recognized brands. Acquisitions. For a complete description of the Company’s acquisitions, refer to “Note 2 - Acquisitions”. On March 10, 2021, the Company completed its acquisition of Pet Supplies Plus for an aggregate purchase price of $451.3 million. On September 27, 2021, the Company completed its acquisition of Sylvan Learning (“Sylvan”) for an aggregate purchase price of $82.9 million. On November 22, 2021, the Company completed its acquisition of Badcock Home Furniture & more (“Badcock”) for an aggregate purchase price of $548.8 million . The assets acquired and the liabilities assumed in the acquisitions above are recorded at fair value in accordance with Accounting Standards Codification (“ASC”) 805, “Business Combinations.” Acquisition-related costs are expensed as incurred. The purchase price is allocated to the various tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values. In the case where there is an excess of aggregate net fair value of assets acquired and liabilities assumed over the fair value of consideration transferred, the purchase price will be recorded as a bargain purchase gain. Determining the fair value of certain assets and liabilities is subjective in nature and often involves the use of significant estimates and assumptions, which are inherently uncertain. Many of the estimates and assumptions used to determine fair values, such as those used for intangible assets are made based on forecasted information and discount rates. In addition, the judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations. During the measurement period, which is not to exceed one year from the acquisitions, the Company may record adjustments to the acquired assets and liabilities assumed or the preliminary purchase price, with a corresponding offset to goodwill or bargain purchase gain, to reflect new information obtained about facts and circumstances that existed as of the acquisition dates. Upon the conclusion of the measurement period, any subsequent adjustments are recorded to earnings. Divestitures. On July 2, 2021, the Company completed the sale of its Liberty Tax business to NextPoint Acquisition Corp. (“NextPoint”), as described in “Note 3 - Divestitures”. Segment Information . The Company currently operates in six reportable segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy’s and Sylvan. The Vitamin Shoppe segment is an omnichannel specialty retailer and wellness lifestyle company with the mission of providing customers with the most trusted products, guidance and services to help them become their best selves, however they define it. Vitamin Shoppe offers one of the largest varieties of products among vitamin, mineral and supplement retailers. The broad product offering enables Vitamin Shoppe to provide customers with a depth of selection of products that may not be readily available at other specialty retailers or mass merchants, such as discount stores, supermarkets, drug stores and wholesale clubs. Vitamin Shoppe continues to focus on improving the customer experience through the roll-out of initiatives including increasing customer engagement and personalization, enhancing the omnichannel experience (including in stores, online and on mobile devices), growing private brands and improving the effectiveness of pricing and promotions. The Pet Supplies Plus segment is a leading omnichannel retail chain and franchisor of pet supplies and services. Pet Supplies Plus has a diversified revenue model comprised of Company-owned store revenue, franchise royalties and revenue generated by the wholesale distribution of products to its franchisees. Pet Supplies Plus offers a curated selection of premium brands, proprietary private labels and specialty products with retail price parity with online players. Additionally, Pet Supplies Plus offers grooming, pet wash and other services in most of its locations. On February 22, 2022, Pet Supplies Plus completed its acquisition of Wag N’ Wash, an emerging grooming, pet-wash and natural pet food franchise. Wag N’ Wash is primarily focused on dogs, has a store footprint that is substantially smaller than a Pet Supplies Plus location and is operated by the Pet Supplies Plus management. The Badcock segment is a retailer of furniture, appliances, bedding, electronics, home office equipment, accessories and seasonal items in a showroom format. Additionally, Badcock offers multiple and flexible payment solutions and credit options through third parties and its consumer financing services. The Company is in the process of moving the financing business fully to a third-party provider. The American Freight segment is a retail chain offering in-store and online access to furniture, mattresses, new and out-of-box home appliances and home accessories at discount prices. American Freight buys direct from manufacturers and sells direct in warehouse-style stores. By cutting out the middleman and keeping its overhead costs low, American Freight can offer quality products at low prices. The American Freight segment provides customers with multiple payment options including third-party financing providing access to high-quality products and brand name appliances that may otherwise remain aspirational to some of its customers. American Freight also serves as a liquidation channel for major appliance vendors. American Freight operates specialty distribution centers that test every out-of-box appliance before it is offered for sale to customers. Customers typically are covered by the original manufacturer’s warranty and are offered the opportunity to purchase a full suite of extended-service plans and services. The Buddy’s segment is a specialty retailer of high quality, name brand consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements. The rental transaction allows customers the opportunity to benefit from the use of high-quality products under flexible rental purchase agreements without long-term obligations. The Sylvan segment is an established and growing franchisor of supplemental education for Pre-K-12 students and families. Sylvan addresses the full range of student needs with a broad variety of academic curriculums delivered in an omnichannel format. The Sylvan platform provides franchisees with the ability to provide a range of supplemental educational services, including on premises, virtually, at a satellite location, and in the home. Principles of Consolidation . The audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The Company consolidates any entities in which it has a controlling interest, the usual condition of which is ownership of a majority voting interest. Prior to April 1, 2020, the Company reported a non-controlling interest representing the economic interest in Franchise Group New Holdco, LLC (“New Holdco”) held by the former equity holders of Buddy’s (the “Buddy’s Members”). As of April 1, 2020, the Company redeemed all outstanding New Holdco units for shares of common stock of the Company and now has a 100% interest in New Holdco. Refer to “Note 11 - Stockholders’ Equity” for more information on the non-controlling interest. The Company does not possess any ownership interests in franchisee entities; however, the Company may provide financial support to franchisee entities. Because the Company’s franchise arrangements provide franchisee entities the power to direct the activities that most significantly impact their economic performance, the Company does not consider itself the primary beneficiary of any such entity that meets the definition of a variable interest entity (“VIE”). The primary beneficiary is the entity that possesses the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the right to receive benefits from the VIE that are significant to it. Based on the results of management’s analysis of potential VIEs, the Company has not consolidated any franchisee entities. The Company’s maximum exposure to loss resulting from involvement with potential VIEs is attributable to accounts and notes receivables and future lease payments due from franchisees. When the Company does not have a controlling interest in an entity but has the ability to exert significant influence over the entity, the Company applies the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. Fiscal Year End. For the years ended December 25, 2021 and December 26, 2020, our fiscal year ended on the Saturday in December closest to December 31 st . On February 22, 2022, our Board of Directors (“Board”) approved a change in our fiscal year-end from the last Saturday in December closest to December 31 st to the Saturday in December or January, whichever is closest to December 31 st . Fiscal year 2022 ended on December 31, 2022 and included 53 weeks, with the 53 rd week falling in the fourth fiscal quarter, and fiscal years 2021 and 2020 included 52 weeks. Use of Estimates . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basis of Presentation. Revenues have been classified into product, service and other and rental revenues as further discussed in “Note 8 - Revenue.” Costs of sales for product includes the cost of merchandise, transportation and warehousing costs. Service and other costs of sales include the direct costs of warranties. Rental cost of sales represents the amortization of inventory costs over the leased term. Other operating expenses, including employee costs, depreciation and amortization, and advertising expenses have been classified in selling, general and administrative expenses. For the years ended December 31, 2022, December 25, 2021 and December 26, 2020, total advertising expense was $98.1 million, $74.1 million, and $52.8 million, respectively. The Company also includes occupancy costs in selling, general and administrative expenses. Cash and Cash Equivalents . The Company considers all highly liquid instruments with maturities of three months or less at the time of purchase, as well as credit card receivables for sales to customers in its Company-owned stores that generally settle within two to five business days, to be cash equivalents. The Company maintains cash and cash equivalent balances with financial institutions that exceed federally-insured limits. The Company has not experienced any losses related to these balances, and the Company believes credit risk to be minimal. Securitization of Receivables. Sales of beneficial interests in customer revolving lines of credit are recorded as cash and an equivalent amount is recorded as “Debt secured by accounts receivable, net” on the Company’s Consolidated Balance Sheets. The accounts receivable, which have been securitized, are recorded as “Securitized accounts receivable” on the Consolidated Balance Sheets. The net securitized accounts receivable on the balance sheet include the current and non-current portions, net of allowance for bad debt and an unamortized purchase discount recorded in purchase accounting related to the Badcock Acquisition. Inventories . Inventory for the Vitamin Shoppe segment is recorded at the lower of cost or market value using the weighted-average cost method. Inventory includes costs directly incurred in bringing the product to its existing condition and location. In addition, the cost of inventory is reduced by purchase discounts and other allowances received from vendors. A markdown reserve is estimated based on a variety of factors, including, but not limited to, the amount of inventory on hand and its remaining shelf life, current and expected market conditions and product expiration dates. In addition, the Company has established a reserve for estimated inventory shrinkage based on the actual, historical shrinkage of its most recent physical inventories adjusted, if necessary, for current economic conditions and business trends. Physical inventories and cycle counts are taken on a regular basis. These adjustments are estimates, which could vary significantly from actual results if future economic conditions, customer demand or competition differ from management expectations. Inventory for the Pet Supplies Plus segment is recorded at the lower of cost, determined on the average cost method or net realizable value for store inventories. Pet Supplies Plus includes freight and labor costs on products purchased from its distribution center in cost of products sold. Wholesale inventories are valued at the lower of cost (including freight), determined on the average cost method or net realizable value. Volume-based vendor allowances, rebates, and credits that relate to the Company’s store merchandising activities are applied to product cost and recognized in cost of goods sold as the related product is sold. Inventory for the Badcock segment is comprised of finished goods and is valued at the lower of cost or market value, with cost determined by the first-in, first-out method. Inventory includes the purchase price of the inventory plus costs of freight for moving merchandise from vendors to distribution centers as well as from distribution centers to stores. An obsolescence reserve is estimated based on the amount of inventory on hand, its age, and its condition. Estimates are compared to the actual results of the physical inventory counts as they are taken and adjust the shrink estimates accordingly. Inventory for American Freight is comprised of finished goods and is valued at the lower of cost or market, with cost determined by the first-in, first-out method. The Company writes down inventory, the impact of which is reflected in cost of sales in the consolidated statements of operations, if the cost of specific inventory items on hand exceeds the amount the Company expects to be realized from the ultimate sale or disposal of the inventory. These estimates are based on management’s judgment regarding future demand and market conditions and analysis of historical experience. Inventory includes the purchase price of the inventory plus costs of freight for moving merchandise from vendors to distribution centers as well as from distribution centers to stores. A provision for estimated shrinkage is maintained based on the actual historical results of physical inventories. Estimates are compared to the actual results of the physical inventory counts as they are taken and adjust the shrink estimates accordingly. Inventory for the Buddy’s segment is recorded at cost, including shipping and handling fees. Upon purchase, merchandise is not initially depreciated until it is leased or three months after the purchase date. Non-leased merchandise is depreciated on a straight-line basis over a period of 24 months. Leased merchandise is depreciated over the lease term of the rental agreement and recorded in rental cost of revenue. On a weekly basis, all damaged, lost, stolen, or unsalable merchandise identified is written off. Maintenance and repairs of lease merchandise are charged to operations as incurred. Receivables and Allowance for Doubtful Accounts . Notes and accounts receivable are due from the Company’s franchisees and are collateralized by the underlying franchise. The debtors’ ability to repay the receivables is dependent upon both the performance of the franchisee’s industry as a whole and the individual franchise. The adequacy of the allowance for doubtful accounts is assessed on a quarterly basis and adjusted as deemed necessary. Management believes the recorded allowance is adequate based upon its consideration of the estimated value of the franchises, which collateralize the receivables. Any adverse change in the individual franchisees’ areas could affect the Company’s estimate of the allowance. Goodwill and Non-amortizing Intangible Assets. Goodwill and non-amortizing intangible assets, including the segments’ tradenames, are not amortized, but rather tested for impairment at least annually. In addition, goodwill and non-amortizing intangible assets will be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. The Company performs a qualitative and/or quantitative assessment to determine whether it is more likely than not that each reporting unit’s fair value is less than its carrying value, including goodwill. If the Company determines that it is more likely than not that the fair value of the reporting unit is less than its carrying value, the Company then estimates the fair value. The Company uses either a market multiple method or a discounted cash flow method to estimate the fair value of its reporting units and recognizes goodwill impairment for any excess of the carrying amount of a reporting unit’s goodwill over its estimated fair value. The Company evaluates the segments’ tradenames for impairment by comparing the fair value, based on an income approach using the relief-from-royalty method, to the carrying value. If the carrying value of the asset exceeds its estimated fair value, an impairment loss is recognized in an amount equal to that excess. The Company’s reporting units are determined in accordance with the provisions of ASC 350, “Intangibles – Goodwill and Other.” The Company performs its annual impairment testing of goodwill and non-amortizing intangible assets on the last day of the first month of the Company’s third quarter. Refer to “Note 7 – Goodwill and Intangible Assets” for additional information on these balances. Intangible Assets and Asset Impairment. Components of intangible assets consist of customer contracts, franchise and dealer agreements, and proprietary content. Amortization of intangible assets is calculated using the straight-line method over the estimated useful lives of the assets. Amortization of intangible assets is generally two to ten years. Purchased intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. Recognition and measurement of a potential impairment is performed for these assets at the lowest level where cash flows are individually identifiable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. Property, Plant, and Equipment. Property, plant, and equipment are stated at cost less accumulated depreciation and amortization. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, generally seven twenty thirty seven fifteen thirty-nine five ten seven three five two five Insurance Programs . The Company maintains its own insurance arrangements with third-party insurance companies for exposures incurred for a number of risks including worker’s compensation and general liability claims. The liability represents an estimate of the discounted cost of claims incurred and is recorded in other current and long-term liabilities. The Company may use restricted cash as collateral for these programs which is recorded in “Other non-current assets.” Employee Compensation and Benefits. The Company records the cost of its employee compensation and benefits as compensation expense in selling, general and administrative expenses within its Consolidated Statements of Operations. For the years ended December 31, 2022, December 25, 2021 and December 26, 2020, total employee compensation and expense was $606.7 million, $494.9 million, and $376.5 million, respectively. Accrued compensation and benefits is recorded within accounts payable and accrued expenses within the Consolidated Balance Sheets and totaled $38.7 million and $63.4 million as of December 31, 2022 and December 25, 2021. Stock-Based Compensation. The Company records the cost of its employee stock-based compensation as compensation expense in its consolidated statements of operations. Compensation costs related to stock options are based on the grant-date fair value of awards using the Black-Scholes-Merton option pricing model and considering forfeitures. Compensation costs related to restricted stock units are based on the grant-date fair value and are amortized on a straight-line basis over the vesting period. The Company recognizes compensation costs for an award that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award. Compensation costs related to market-based restricted stock units are based on the grant-date fair value of the awards using a Monte Carlo simulation valuation model to calculate grant date fair value. Compensation expense is recognized over the requisite service period using the proportionate amount of the award’s fair value that has been earned through service to date. Revenue Recognition. The following is a description of the principal activities from which the Company generates its revenues. For more detailed information regarding reportable segments, refer to “Note 8 - Revenue.” • Product revenues: These include sales of merchandise at the stores and online. Revenue is measured based on the amount of fixed consideration that the Company expects to receive, reduced by estimates for variable consideration such as returns. Revenue also excludes any amounts collected from customers and remitted or payable to governmental authorities. In arrangements where the Company has multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. The Company satisfies its performance obligations at the point of sale for retail store transactions and upon delivery for online transactions. The Company recognizes revenue for retail store and online transactions when it transfers control of the goods to the customer. Merchandise sales also include payments received for the exercise of the early purchase option offered through rental-purchase agreements or merchandise sold through point of sale transactions. Revenue for merchandise sales associated with rental purchase agreements is recognized when payment is received, and ownership of the merchandise passes to the customer. • Service and other revenues: These may include the following: ◦ Royalties and advertising fees; ◦ Financing revenue; ◦ Warranty and damage revenue; ◦ Interest income; ◦ Services and extended-service plans; and ◦ Other miscellaneous income. Commissions earned on services and financing revenue are presented net of related costs because the Company is acting as an agent in arranging the services for the customer and does not control the services being rendered. Financing revenue includes revenue received from third party financing companies. The Company recognizes revenue on the commissions on extended-service plans when it transfers control of the related goods to the customer. The Company recognizes franchise fee revenue for the sales of individual territories on a straight-line basis over the initial contract term and renewal periods when the obligations of the Company to prepare the franchisee for operation are substantially complete, not to exceed the estimated amount of cash to be received. Royalties and advertising fees are recognized as franchisees generate sales. • Rental revenue: The Company provides merchandise, consisting of consumer electronics, computers, residential furniture, appliances, and household accessories to its customers pursuant to rental-purchase agreements which provide for weekly, semi-monthly or monthly non-refundable rental payments. The average rental term is twelve Leases. The Company’s lease portfolio primarily consists of leases for its retail store locations, office space and distribution centers, as well as in the operation of certain of our dealer-owned stores. The Company also leases tractors and trucks used in its Badcock segment, local delivery trucks used in its American Freight segment, and leases certain office equipment under finance leases. The finance lease right of use assets are included in property, plant, and equipment (“PP&E”) and the finance lease liabilities are included in current and non-current installments of long-term obligations. The Company determines if an arrangement is a lease at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Company obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. Operating leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets, and the Company recognizes rent expense for these leases on a straight-line basis over the lease term. For leases with an initial term in excess of 12 months, lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the committed lease term at the lease commencement date. The Company’s leases do not provide an implicit rate; therefore, the Company uses its incremental borrowing rate and the information available at the lease commencement date in determining the present value of future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Most leases include one or more options to renew and the exercise of renewal options is at the Company’s sole discretion. The Company does not include renewal options in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company uses the long-lived assets impairment guidance in ASC 360-10, “Property, Plant, and Equipment - Overall,” to determine whether a right-of-use asset is impaired, and if so, the amount of the impairment loss to recognize. The Company subleases some of its real estate leases. The lessor and sublease portfolio primarily consists of stores within our Badcock segment that have been leased to dealers. For leases where the Company is a lessor, rent income and related operating lease expense for lease payments is recognized on a straight-line basis over the lease term. For operating leases, lease costs are recorded within selling, general, and administrative expenses (“SG&A”) within the consolidated statements of operations as follows: (1) rental expense related to leases for Company-owned stores, and (2) rental expense for leased properties that are subsequently subleased to dealers, offset by rental income from sublease agreements with dealers. For finance leases where the Company is the lessee, lease cost includes the amortization of the right-of-use (“ROU”) asset, which is amortized on a straight-line basis and recorded to “SG&A” and interest expense on the finance lease liabilities is recorded to “Interest expense, net.” Finance lease ROU assets are amortized over the shorter of their estimated useful lives or the terms of the respective leases. The Company’s subleases and leases for which the Company is a lessor are all classified as operating leases, for which the Company accounts for the lease and non-lease components as one lease component, as discussed above. The Company has lease agreements with lease and non-lease components, which the Company elects to combine as one lease component for all classes of underlying assets. Non-lease components include variable costs based on actual costs incurred by the lessor related to the payment of real estate taxes, common area maintenance, and insurance. These variable payments are expensed as incurred as variable lease costs. Fair Value of Financial Instruments. As required, financial assets and liabilities are classified in the fair value hierarchy in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The carrying value of Cash and cash equivalents, restricted cash, accounts receivable and accounts payable as reported in the accompanying Consolidated Balance Sheets approximate fair value due to their short-term maturities. The carrying amount of Long-term debt approximates fair value because the interest rate paid has a variable component. The fair value for the Company’s Investment in equity securities for which it does not have the ability to exercise significant influence is based on quoted prices in active markets. Deferred Income Taxes. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities, which are recorded within “Other non-current assets” and “Other non-current liabilities” within the Consolidated Balance Sheets, are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In accordance with accounting standards, the Company assesses the likelihood that its deferred tax assets will be realized. Deferred tax assets are reduced by a valuation allowance when, after considering all available positive and negative evidence, it is determined that it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. The Company will analyze its position in subsequent reporting periods, considering all available positive and negative evidence, in determining the expected realization of its deferred tax assets. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has elected to classify interest charged on a tax settlement in interest expense, and accrued penalties, if any, in selling, general, and administrative expenses. The determination of the Company’s provision for income taxes requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items. The Company records unrecognized tax benefit liabilities for known or anticipated tax issues based on an analysis of whether, and the extent to which, additional taxes will be due. Repurchases of Common Stock. The Company repurchases shares of its common stock through open market or private transactions. During the year ended December 31, 2022, all purchases of common stock under the Company’s stock repurchase program were made at pric

Acquisitions (Notes)

Acquisitions (Notes)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions The Company continually looks to diversify and grow its portfolio of brands through acquisitions. On December 27, 2020 , the Company completed its acquisition of FFO Home (the “ FFO Home Acquisition ” ), on March 10, 2021, the Company completed its acquisition of Pet Supplies Plus (the “ Pet Supplies Plus Acquisition ” ), on September 27, 2021, the Company completed its acquisition of Sylvan (the “ Sylvan Acquisition ” ), and o n November 22, 2021, the Company completed its acquisition of Badcock (the “ Badcock Acquisition ” and, together with the FFO Home Acquisition, Pet Supplies Plus Acquisition, and Sylvan Acquisition, the “ Acquisitions ” ). On February 22, 2022, the Company’s Pet Supplies Plus segment completed its acquisition of Wag N’ Wash. For a complete description of the Company’s accounting policy regarding acquisitions, refer to “Note 1 – Organization and Significant Accounting Policies”. Badcock Acquisition On November 22, 2021, the Company completed the Badcock Acquisition. The fair value of the consideration transferred at the acquisition date was $548.8 million. The following table summarizes the final allocation of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. (In thousands) November 22, 2021 Cash and cash equivalents $ 23,413 Inventories 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 238,865 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 866,746 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 27,849 Total liabilities 182,404 Bargain purchase gain (135,557) Consideration transferred $ 548,785 Operating lease right-of-use assets of $55.6 million and operating lease liabilities of $51.7 million, consist of leases for retail store locations, warehouses and office equipment. Property, plant and equipment consists of fixtures and equipment of $93.0 million, buildings and building improvements of $98.0 million, land and land improvements of $33.4 million, leasehold improvements of $23.7 million, and construction in progress of $1.4 million. During the year ended December 31, 2022, the preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed were finalized, which resulted in a $3.5 million increase to the bargain purchase gain for a cumulative bargain purchase gain of $135.6 million. The adjustment is classified as “Bargain purchase gain” on the Consolidated Statements of Operations. The Company believes the seller in the Badcock Acquisition was willing to accept a bargain purchase price in return for the Company’s ability to act more quickly, partially due to the Company’s access to capital to complete the transaction, and with greater certainty than any other prospective acquirer. Additionally, the Company believes the seller was motivated to complete the transaction as part of an overall repositioning of its business. Upon completion of this reassessment, the Company concluded that recording a bargain purchase gain with respect to the Badcock Acquisition was appropriate and required under GAAP. The tax impact related to the bargain purchase gain was non-taxable and impacted the Company’s effective tax rate for the period. Sylvan Acquisition On September 27, 2021, the Company completed the Sylvan Acquisition. The fair value of the consideration transferred at the acquisition date was $82.9 million. The table below summarizes the fair values of the identifiable assets acquired and liabilities assumed in the Sylvan Acquisition on September 27, 2021. (In thousands) September 27, 2021 Cash and cash equivalents $ 4,364 Other current assets 3,592 Property, plant, and equipment 26,324 Goodwill 19,406 Tradenames 24,987 Operating lease right-of-use assets 2,874 Other intangible assets 19,412 Other non-current assets 185 Total assets 101,144 Current operating lease liabilities 891 Accounts payable and accrued expenses 6,072 Non-current operating lease liabilities 1,984 Other long-term liabilities 9,320 Total liabilities 18,267 Consideration transferred $ 82,877 Other intangible assets consists of the franchise agreements of $18.3 million and proprietary content of $1.1 million. Property, plant and equipment consists of fixtures and equipment of $0.3 million, leasehold improvements of $0.7 million, and software and electronic content of $25.3 million. Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill recognized is attributable to operational synergies in the expected franchise models and growth opportunities. None of the acquired goodwill is deductible for tax purposes. Pet Supplies Plus Acquisition On March 10, 2021, the Company completed the Pet Supplies Plus Acquisition. The fair value of the consideration transferred at the date of acquisition was $451.3 million. The table below summarizes the fair values of the identifiable assets acquired and liabilities assumed in the Pet Supplies Plus Acquisition on March 10, 2021. (In thousands) March 10, 2021 Cash and cash equivalents $ 2,131 Other current assets 39,844 Inventories 118,600 Property, plant, and equipment 75,616 Goodwill 335,995 Operating lease right-of-use assets 151,243 Tradenames 104,400 Other intangible assets 101,400 Other non-current assets 6,393 Total assets 935,622 Current operating lease liabilities 25,405 Accounts payable and accrued expenses 82,237 Other current liabilities 1,606 Current installments of long-term obligations 3,507 Long-term obligations, excluding current installments 247,458 Non-current operating lease liabilities 114,292 Other long-term liabilities 9,761 Total liabilities 484,266 Consideration transferred $ 451,356 Other intangible assets consists of franchise agreements of $67.1 million and customer relationships of $34.3 million. Operating lease right-of-use assets and lease liabilities consist of leases for retail store locations, warehouses and office equipment. Operating lease right-of-use assets incorporates a favorable adjustment of $12.4 million, net for favorable and unfavorable Pet Supplies Plus real estate leases (as compared to prevailing market rates) which will be amortized over the remaining lease terms. Property, plant, and equipment consists of fixtures and equipment of $37.0 million, leasehold improvements of $33.5 million, construction in progress of $3.5 million and financing leases of $1.7 million. Other non-current assets includes $0.4 million of restricted cash. Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. The goodwill recognized is attributable to operational synergies in the expected franchise models and growth opportunities. All of the acquired goodwill is deductible for tax purposes. Wag N’ Wash Acquisition On February 22, 2022, Pet Supplies Plus completed its acquisition of Wag N’ Wash, an emerging natural pet food, dog wash, and grooming franchise, for an all cash purchase price of $0.9 million, and five of the Wag N’ Wash stores were subsequently sold to a franchisee for $0.6 million. The components of the purchase price allocation are not presented herein due to the immateriality of the transaction to the Company overall. Furniture Factory Outlet Acquisition On December 27, 2020, the Company completed the FFO Home Acquisition, a regional retailer of furniture and mattresses, for an all cash purchase price of $13.8 million. (In thousands) December 27, 2020 Cash and cash equivalents $ 6 Other current assets 96 Inventories 6,450 Property, plant, and equipment 3,280 Goodwill 2,947 Operating lease right-of-use assets 26,571 Total assets 39,350 Current operating lease liabilities 2,587 Other current liabilities 299 Non-current operating lease liabilities 22,624 Total liabilities 25,510 Consideration transferred $ 13,840 Operating lease right-of-use assets and lease liabilities consist of leases for retail store locations. Operating lease right-of-use assets incorporates a favorable adjustment of $1.4 million, net for favorable and unfavorable FFO Home leases (as compared to prevailing market rates) which will be amortized over the remaining lease terms. The property, plant, and equipment consists of leasehold improvements of $2.5 million and fixtures and equipment of $0.8 million. Pro forma financial information The following unaudited consolidated pro forma summary has been prepared by adjusting the Company’s historical data to give effect to the Acquisitions as if they had occurred on December 29, 2019. (Unaudited) (In thousands) Year Ended 12/25/2021 Year Ended 12/26/2020 Revenue $ 4,282,329 $ 3,849,583 Net income (loss) from continuing operations 184,574 $ 92,954 Basic net income per share - continuing operations 4.59 $ 2.69 Diluted net income per share - continuing operations 4.51 $ 2.66 These unaudited pro forma results include adjustments such as inventory step-up, amortization of acquired intangible assets, depreciation of acquired property, plant, and equipment and interest expense on debt financing in connection with the Acquisitions. Material, nonrecurring pro forma adjustments directly attributable to the Acquisitions include the following. Acquired inventory step-up to its fair value of $7.1 million was removed from net income for the year ended December 25, 2021 and recognized as an incremental product cost in the year ended December 26, 2020, and acquisition related costs of $11.3 million were removed from net income for the year ended December 25, 2021 and recognized as an expense in the year ended December 26, 2020. The unaudited consolidated pro forma financial information was prepared in accordance with accounting standards and is not necessarily indicative of the results of operations that would have occurred if the Acquisitions had been completed on the dates indicated, nor is it indicative of the future operating results of the Company. The unaudited pro forma results do not reflect events that either have occurred or may occur after these Acquisitions, including, but not limited to, the anticipated realization of operating synergies in subsequent periods. They also do not give

Divestitures

Divestitures	12 Months Ended
	Dec. 31, 2022
Acquisitions [Abstract]
Divestitures	Divestitures Liberty Tax Divestiture On July 2, 2021, the Company completed the sale of its Liberty Tax business (the “Liberty Transaction”) to NextPoint and received total consideration of approximately $255.3 million, consisting of approximately $181.2 million in cash and approximately $74.1 million in proportionate voting shares of NextPoint recorded as an investment in equity securities in “Investment in equity securities” on the Consolidated Balance Sheets. As a result of the Liberty Transaction, the financial position and results of operations of the Liberty Tax business are presented as discontinued operations and, as such, have been excluded from continuing operations and segment results for the years ended December 25, 2021, and December 26, 2020. The following is a Consolidated Statement of Operations for the Liberty Tax business. The amounts are included in “Income (loss) from discontinued operations, net of tax” in the Company’s Consolidated Statements of Operations. Year Ended (In thousands) 12/25/2021 12/26/2020 Revenue $ 107,486 $ 122,777 Selling, general, and administrative expenses 66,042 99,166 Income from operations 41,444 23,611 Other expense: Gain on sale of discontinued operations 188,091 — Other 165 107 Interest expense, net (3) (4,977) Income before income taxes 229,697 18,741 Income tax expense 57,875 2,531 Net Income 171,822 16,210 Less: Net (income) attributable to non-controlling interest — (11,791) Net income attributable to discontinued operations $ 171,822 $ 4,419 The Company applied the “Intraperiod Tax Allocation” rules under ASC 740 “Income Taxes”, which requires the allocation of an entity’s total income tax provision among continuing operations and, in the Company’s case, discontinued operations. The following is the operating and investing activities for the Liberty Tax business. These amounts are included in the Company’s Consolidated Statements of Cash Flows. Year Ended (In thousands) 12/25/2021 12/26/2020 Cash flows provided by operating activities from discontinued operations $ 39,334 $ 52,185 Cash flows provided by investing activities from discontinued operations 173,633 6,259 Assets Held for Sale As of December 31, 2022, Badcock was negotiating sale transactions for certain non-operating properties that it expects to sell within one year. The net book value of the properties of $8.5 million is classified as “Current assets held for sale” on the Consolidated Balance Sheets. Sale-Leaseback Transactions In the year ended December 31, 2022, Badcock sold a number of its retail locations, distribution centers, and its corporate headquarters for a total of $260.6 million, resulting in a net gain of $59.8 million, comprised of $65.3 million of gains and $5.5 million of losses. Contemporaneously with these sales, the Company entered into lease agreements pursuant to which the Company leased back the retail locations, distribution centers, and corporate headquarters, all of which are being accounted for as operating leases. The net gain has been recognized as “Gain on sale-leaseback transactions” on the Consolidated Statements of Operations for the year ended December 31, 2022.

Accounts and Notes Receivable

Accounts and Notes Receivable	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts and Notes Receivable	Accounts and Notes Receivable Current and non-current receivables as of December 31, 2022 and December 25, 2021 are presented in the Consolidated Balance Sheets as follows: (In thousands) 12/31/2022 12/25/2021 Accounts receivable $ 96,804 $ 47,763 Franchisee accounts receivable 46,778 38,324 Notes receivable 2,211 1,681 Interest receivable — 54 Income tax receivable 28,325 32,448 Allowance for doubtful accounts (3,956) (1,572) Current receivables, net 170,162 118,698 Notes receivable, non-current 11,867 12,183 Allowance for doubtful accounts, non-current (132) (428) Non-current receivables, net 11,735 11,755 Total receivables $ 181,897 $ 130,453 Notes receivable are due from the Company’s franchisees and are collateralized by the underlying franchise. The debtors’ ability to repay the notes is dependent upon both the performance of the franchisee’s industry as a whole and the individual franchise. Allowance for Doubtful Accounts The adequacy of the allowance for doubtful accounts is assessed on a quarterly basis and adjusted as deemed necessary. Activity in the allowance for doubtful accounts for the years ended December 31, 2022 and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Balance at beginning of year $ 2,000 $ 283 Provision for doubtful accounts 2,419 1,720 Write-offs, net of recoveries (331) (3) Balance at end of year $ 4,088 $ 2,000 Analysis of Past Due Receivables The breakdown of accounts and notes receivable past due at December 31, 2022 and December 25, 2021 was as follows: 12/31/2022 (In thousands) Past due Current Interest receivable Total receivables Accounts receivable $ 10,303 $ 133,279 $ — $ 143,582 Notes and interest receivable 133 13,945 — 14,078 Total accounts, notes, and interest receivable $ 10,436 $ 147,224 $ — $ 157,660 12/25/2021 (In thousands) Past due Current Interest receivable Total receivables Accounts receivable $ 7,966 $ 78,121 $ — $ 86,087 Notes and interest receivable 452 13,412 54 13,918 Total accounts, notes, and interest receivable $ 8,418 $ 91,533 $ 54 $ 100,005

Securitized Accounts Receivable

Securitized Accounts Receivable	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Securitized Accounts Receivable	Securitized Accounts Receivable In order to monetize its customer credit receivables portfolio, Badcock sells beneficial interests in customer revolving lines of credit pursuant to securitization transactions. On December 20, 2021, Badcock securitized its existing consumer credit receivables portfolio for a purchase price of $400.0 million in cash. The Company securitized an additional $382.1 million of its customer credit receivables portfolio in the year ended December 31, 2022. As tranches of customer credit receivables are securitized, proceeds received are recorded as “Cash” and an equivalent amount is recorded as “Debt secured by accounts receivable, net” on the Consolidated Balance Sheets, which includes the face amount of current and non-current receivables, net of the unamortized discount. The securitizations do not qualify as a sale under ASC 860 - “Transfers and Servicing,” even though the underlying receivables are deemed to be legally sold. The accounts receivable, which have been securitized, are recorded as “Current securitized accounts receivable, net” and “Non-current securitized accounts receivable, net” on the Company’s Consolidated Balance Sheets. The accounts include the current and non-current portions, net of allowance for bad debt and an unamortized purchase discount recorded in purchase accounting related to the Badcock Acquisition. The Company records the income earned on the customer revolving lines of credit as interest income in “Service and other revenues” with a corresponding amount recorded in “Interest expense, net” on the Consolidated Statements of Operations as a result of the securitization. Amortization of the secured debt discount is also recorded in “Interest expense, net” on the Consolidated Statements of Operations. In connection with the securitization of the receivables, Badcock has entered into a receivables servicing agreement with lenders pursuant to which Badcock will provide certain customary servicing and account management services. During the year ended December 31, 2022, Badcock earned $10.2 million pursuant to this agreement, recorded in “Service and other revenues” on the Consolidated Statements of Operations. The debt secured by accounts receivable is non-recourse to the Company. Lenders must rely on payments received from the Company’s customers to service the secured debt, unless the Company has breached its representations or warranties in the loan agreements. The lenders assume the credit risk of the customer and their only recourse, upon default by the customer, is against the customer. Badcock may periodically repay portions of the debt secured by accounts receivable early. The non-current portion of secured debt matures within two years of the Company's Consolidated Balance Sheet date. The components of securitized accounts receivable and debt secured by accounts receivables at December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Current securitized accounts receivable $ 374,179 $ 476,071 Unamortized purchase price discount (24,171) (106,504) Allowance for doubtful securitized accounts, current (57,095) — Current securitized accounts receivable, net 292,913 369,567 Non-current securitized accounts receivable 50,494 60,869 Unamortized purchase price discount (3,262) (13,617) Allowance for doubtful securitized accounts, non-current (7,705) — Non-current securitized accounts receivable, net 39,527 47,252 Total securitized assets, net $ 332,440 $ 416,819 Current installments of debt secured by accounts receivable $ 374,879 $ 421,935 Unamortized debt discount (34,858) (119,689) Current debt secured by accounts receivable, net 340,021 302,246 Non-current installments of debt secured by accounts receivable 119,240 111,671 Unamortized debt discount (11,792) (6,415) Non-current debt secured by accounts receivable, net 107,448 105,256 Total debt secured by accounts receivable, net $ 447,469 $ 407,502 When securitized receivables are delinquent for approximately one year, the estimated uncollectible amount from the customer is written off and the corresponding securitized accounts receivable is reduced. Due to their non-recourse nature, the Company will record a gain on extinguishment for any debt secured by uncollectible accounts receivable in the future when the debt meets the extinguishment requirements in accordance with ASC 470, “Debt”. Activity in the allowance for doubtful accounts for the years ended December 31, 2022 and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Balance at beginning of year $ — $ — Provision for doubtful accounts 139,300 — Write-offs, net of recoveries (74,500) — Balance at end of year $ 64,800 $ — The components of interest income and interest expense generated from securitized receivables for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Interest income from securitization: Interest income 1 $ 101,172 $ 8,712 Interest income from amortization of original purchase discount $ 92,688 $ 16,796 Total interest income from securitization $ 193,860 $ 25,508 Interest expense, debt secured by accounts receivables: Amortization of debt discount from sale of securitized accounts receivable $ (103,207) $ (4,413) Interest expense $ (124,755) $ (3,089) Total interest expense, debt secured by accounts receivables: $ (227,962) $ (7,502) 1 Includes interest income from Badcock owned receivables (refer to “Note 4 – Accounts and Notes Receivable”) and securitized receivables.

Property, Plant, and Equipment,

Property, Plant, and Equipment, Net	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, Net	Property, Plant, and Equipment, Net Property, plant, and equipment at December 31, 2022, and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Land and land improvements $ 998 $ 36,306 Buildings and building improvements 749 176,188 Leasehold improvements 123,728 115,539 Furniture, fixtures, and equipment 127,610 117,973 Software 114,852 97,427 Construction in progress 14,700 4,388 Finance lease asset 9,269 6,148 Property, plant, and equipment, gross 391,906 553,969 Less accumulated depreciation and amortization 168,188 104,083 Property, plant, and equipment, net $ 223,718 $ 449,886 Total depreciation and amortization expense on property, plant, and equipment was $64.8 million, $56.0 million, and $47.6 million for the years ended December 31, 2022, December 25, 2021, and December 26, 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Text Blocks	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The Company performs impairment tests for goodwill as of the end of July of each fiscal year and between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair values of the Company’s reporting units below their carrying values. As part of the annual impairment test as of July 2022, the Company updated its long-term forecasts based on the operating results in 2022 and the current macro-economic environment. This resulted in the American Freight reporting unit fair value being lower than the carrying value resulting in a $70.0 million non-cash pre-tax goodwill impairment charge, which was recorded in “Goodwill impairment” in the accompanying consolidated statements of operations. No other reporting units had accumulated goodwill impairment losses recorded. The estimated fair value of each of our reporting units was calculated using a weighted-average of values determined from an income approach and a market approach. The income approach involves estimating the fair value of each reporting unit by discounting its estimated future cash flows using a discount rate that would be consistent with a market participant’s assumption. The market approach bases the fair value measurement on information obtained from observed stock prices of public companies and recent merger and acquisition transaction data of comparable entities. In order to estimate the fair value of goodwill, management must make certain estimates and assumptions that affect the total fair value of the reporting unit including, among other things, an assessment of market conditions, projected cash flows, discount rates and growth rates. Management’s estimates of projected cash flows related to the reporting unit include, but are not limited to, future earnings of the reporting unit, assumptions about the use or disposition of assets included in the reporting unit, estimated remaining lives of those assets, and future expenditures necessary to maintain the assets’ existing service potential. The assumptions in the fair value measurement reflect the current market environment, industry-specific factors and company-specific factors. Changes in the carrying amount of goodwill for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Balance as of December 26, 2020 $ 1,277 $ — $ — $ 367,882 $ 79,099 $ — $ 448,258 Acquisitions — 335,875 — 3,293 — 19,456 358,624 Disposals and purchase accounting adjustments — — — (346) — — (346) Balance as of December 25, 2021 $ 1,277 $ 335,875 $ — $ 370,829 $ 79,099 $ 19,456 $ 806,536 Acquisitions — 2,174 — — — — 2,174 Goodwill impairment — — — (70,000) — — (70,000) Disposals and purchase accounting adjustments — (1,258) — — — (50) (1,308) Balance as of December 31, 2022 $ 1,277 $ 336,791 $ — $ 300,829 $ 79,099 $ 19,406 $ 737,402 Components of intangible assets as of December 31, 2022 and December 25, 2021, were as follows: (In thousands) 12/31/2022 Tradenames Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Gross carrying amount $ 12,000 $ 104,416 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,703 Accumulated Amortization — — — — — — — Net carrying amount $ 12,000 $ 104,416 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,703 12/31/2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Customer contracts Gross carrying amount — 34,300 — — 8,184 — 42,484 Accumulated Amortization — (4,143) — — (4,735) — (8,878) Net carrying amount — 30,157 — — 3,449 — 33,606 Franchise and dealer agreements Gross carrying amount — 67,240 — — 10,500 18,265 96,005 Accumulated Amortization — (8,057) — — (3,646) (2,645) (14,348) Net carrying amount — 59,183 — — 6,854 15,620 81,657 Other intangible assets Gross carrying amount — 110 — 44 566 1,593 2,313 Accumulated Amortization — — — (14) (460) (303) (777) Net carrying amount — 110 — 30 106 1,290 1,536 Total intangible assets $ — $ 89,450 $ — $ 30 $ 10,409 $ 16,910 $ 116,799 (In thousands) 12/25/2021 Tradenames Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Gross carrying amount $ 12,000 $ 104,400 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,687 Accumulated amortization — — — — — — — Net carrying amount $ 12,000 $ 104,400 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,687 12/25/2021 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Customer contracts Gross carrying amount — 34,300 — — 8,114 — 42,414 Accumulated amortization — (1,856) — — (3,359) — (5,215) Net carrying amount — 32,444 — — 4,755 — 37,199 Franchise and dealer agreements Gross carrying amount — 67,100 — — 10,500 18,265 95,865 Accumulated amortization — (3,576) — — (2,596) (399) (6,571) Net carrying amount — 63,524 — — 7,904 17,866 89,294 Other intangible assets Gross carrying amount — — — 44 566 1,226 1,836 Accumulated amortization — — — (3) (319) (56) (378) Net carrying amount — — — 41 247 1,170 1,458 Total intangible assets $ — $ 95,968 $ — $ 41 $ 12,906 $ 19,036 $ 127,951 The Company’s tradenames have an indefinite life and their annual impairment test was performed as of July 2022. No impairment has been recorded for any of the reporting units. The Company also reviews amortizable intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The Company did not record impairment expense related to the amortizable intangible assets during the years ended December 31, 2022, December 25, 2021, or December 26, 2020. For the years ended December 31, 2022, December 25, 2021, and December 26, 2020, amortization expense was $11.8 million, $8.7 million, and $4.6 million, respectively. Annual amortization expense for the next five years is estimated to be as follows: (In thousands) Estimate for Fiscal Year 2023 $ 10,833 2024 10,646 2025 9,975 2026 9,232 2027 9,043 Thereafter 67,070 Total estimated amortization expense $ 116,799

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Revenue	Revenue For details regarding the principal activities from which the Company generates its revenue, refer to “Note 1 - Organization and Significant Accounting Policies”. For more detailed information regarding reportable segments, refer to “Note 16 – Segments.” The following represents the disaggregated revenue by reportable segments for the years ended December 31, 2022, December 25, 2021, and December 26, 2020. Fiscal Year Ended 12/31/2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Consolidated Retail sales $ 1,204,168 $ 659,606 $ 628,170 $ 762,488 $ 2,737 $ 54 $ 3,257,223 Wholesale sales 1,298 559,651 — 14,119 — — 575,068 Total product revenue 1,205,466 1,219,257 628,170 776,607 2,737 54 3,832,291 Royalties and advertising fees 620 38,952 — 2,226 18,771 36,912 97,481 Financing revenue — — 1,289 36,955 — — 38,244 Warranty and damage revenue — — 52,437 41,516 6,098 — 100,051 Interest income from amortization of original purchase discount — — 92,688 — — — 92,688 Interest income — 305 101,172 771 — — 102,248 Other revenues 738 30,210 43,301 25,409 221 5,370 105,249 Total service and other revenue 1,358 69,467 290,887 106,877 25,090 42,282 535,961 Rental revenue, net — — — — 29,580 — 29,580 Total rental revenue — — — — 29,580 — 29,580 Total revenue $ 1,206,824 $ 1,288,724 $ 919,057 $ 883,484 $ 57,407 $ 42,336 $ 4,397,832 Fiscal Year Ended 12/25/2021 (In thousands) Vitamin Shoppe Pet Supplies Plus 1 Badcock 2 American Freight Buddy’s Sylvan 3 Consolidated Retail sales $ 1,172,462 $ 517,508 $ 67,353 $ 894,905 $ 3,913 $ 8 $ 2,656,149 Wholesale sales — 355,377 — 945 — — 356,322 Total product revenue 1,172,462 872,885 67,353 895,850 3,913 8 3,012,471 Royalties and advertising fees 263 20,161 — 1,287 14,474 8,306 44,491 Financing revenue — — — 41,623 — — 41,623 Warranty and damage revenue — — 5,389 34,786 6,667 — 46,842 Interest income from amortization of original purchase discount — — 16,796 — — — 16,796 Interest income — 228 8,712 986 — — 9,926 Other revenues — 24,165 3,807 14,360 5,725 1,368 49,425 Total service and other revenue 263 44,554 34,704 93,042 26,866 9,674 209,103 Rental revenue, net — — — — 33,630 — 33,630 Total rental revenue — — — — 33,630 — 33,630 Total revenue $ 1,172,725 $ 917,439 $ 102,057 $ 988,892 $ 64,409 $ 9,682 $ 3,255,204 1 Reflects the results from the March 10, 2021 acquisition date for the Pet Supplies Plus Acquisition. 2 Reflects the results from the November 22, 2021 acquisition date for the Badcock Acquisition. 3 Reflects the results from the September 27, 2021 acquisition date for the Sylvan Acquisition. Fiscal Year Ended 12/26/2020 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Consolidated Retail sales $ 1,035,964 $ — $ — $ 857,955 $ 5,743 $ — $ 1,899,662 Total product revenue 1,035,964 — — 857,955 5,743 — 1,899,662 Royalties and advertising fees — — — — 10,092 — 10,092 Financing revenue — — — 15,977 — — 15,977 Warranty and damage revenue — — — 16,799 12,668 — 29,467 Interest income — — — 1,288 — — 1,288 Other revenues — — — 4,412 4,562 — 8,974 Total service and other revenue — — — 38,476 27,322 — 65,798 Rental revenue, net — — — — 64,267 — 64,267 Total rental revenue — — — — 64,267 — 64,267 Total revenue $ 1,035,964 $ — $ — $ 896,431 $ 97,332 $ — $ 2,029,727 Contract Balances The following table provides information about receivables and contract liabilities (deferred revenue) from contracts with customers as of December 31, 2022 and December 25, 2021: (In thousands) 12/31/2022 12/25/2021 Accounts receivable $ 143,582 $ 86,087 Notes receivable 14,078 13,864 Customer deposits $ 20,816 $ 37,626 Gift cards and loyalty programs 9,565 7,604 Deferred franchise fee revenue 22,175 16,984 Other deferred revenue 10,688 8,400 Total deferred revenue $ 63,244 $ 70,614 Deferred revenue consists of (1) amounts received for merchandise of which customers have not yet taken possession, (2) gift card or store credits outstanding, and (3) loyalty reward program credits which are primarily recognized within one year following the revenue deferral. Deferred franchise fee revenue is recognized over the term of the agreement, which is between five and twenty years. The amount of revenue recognized in the period that was included in the contract liability balance at the beginning of the period is immaterial to the Condensed Consolidated Financial Statements.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases Refer to “Leases” under “Note 1 - Organization and Significant Accounting Policies” for a discussion of our accounting policies. The finance lease right of use assets and lease liabilities are included in PP&E, current installments of long-term debt and long-term debt respectively. These leases are immaterial to the Condensed Consolidated Financial Statements. Company as Lessee The components of lease costs for leases that were recognized in the accompanying Consolidated Statements of Operations for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Operating lease cost $ 244,565 $ 212,837 Short-term operating lease costs 2,186 2,261 Variable operating lease costs 41,467 35,367 Sublease income (8,857) (1,753) Total operating lease cost 279,361 248,712 As of December 31, 2022, maturities of lease liabilities were as follows: Fiscal Year Operating leases 2023 $ 227,700 2024 197,095 2025 154,809 2026 123,037 2027 91,038 Thereafter 258,120 Total undiscounted lease payments 1,051,799 Less interest 151,806 Present value of lease liabilities $ 899,993 The following represents other information pertaining to the Company’s lease arrangements for the years ended December 31, 2022 and December 25, 2021: Operating (In thousands) December 31, 2022 December 25, 2021 Right-of-use assets obtained in exchange for lease obligations (1) $ 155,857 $ 153,538 Cash paid for amounts included in the measurement of lease liabilities 215,528 191,827 Weighted average remaining lease terms (years) 7.05 4.9 Weighted average discount rates 8.31 % 9.03 % (1) As of December 31, 2022, the majority of the lease liabilities arising from right-of-use assets were a result of Badcock’s sale-leaseback transactions. For details regarding the sale-leaseback transaction, refer to “Note 3 – Divestitures”. As of December 25, 2021, the majority of the lease liabilities arising from right-of-use assets were a result of the Pet Supplies Plus Acquisition. Company as Lessor Total rental income for the years ended December 31, 2022 and December 25, 2021 were $9.9 million and $0.9 million. Total rental income includes sublease income of $8.0 million and $0.7 million recognized during fiscal 2022 and fiscal 2021, respectively. The Company subleases some of its Badcock segment’s leased locations to certain dealers for operation as Badcock stores. The terms of these leases generally match those of the lease the Company has with the lessor. The following table illustrates the Company’s maturity analysis of lease payments to be received for non-cancelable subleases as of December 31, 2022: Operating Leases Fiscal Year (in thousands) Subleases 2023 $ 7,068 2024 5,241 2025 4,141 2026 3,076 2027 1,606 Thereafter 537 Total future minimum receipts $ 21,669 Our Vitamin Shoppe, Pet Supplies Plus, and American Freight segments have subleases, but the lease payments on those locations are immaterial to the Condensed Consolidated Financial Statements.

Long-Term Obligations

Long-Term Obligations	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Obligations	Long-Term Obligations Long-term obligations as of December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Term loans, net of debt issuance costs First lien term loan, due March 10, 2026 $ 779,777 $ 790,057 Second lien term loan, due September 10, 2026 289,435 287,188 Badcock first lien term loan, due November 22, 2023 — 201,530 Badcock second lien term loan, due November 22, 2023 — 146,616 Total term loans, net of debt issuance costs 1,069,212 1,425,391 ABL Revolver 295,000 20,000 Other long-term obligations 6,147 10,537 Finance lease liabilities 11,055 6,465 Total long-term obligations 1,381,414 1,462,393 Less current installments 6,935 183,924 Total long-term obligations, excluding current installments $ 1,374,479 $ 1,278,469 First Lien Credit Agreement and Term Loan On March 10, 2021 (the “PSP Closing Date”), the Company entered into a First Lien Credit Agreement (the “First Lien Credit Agreement”) with various lenders (the “First Lien Lenders”) that provides for a $1,000.0 million senior secured term loan (the “First Lien Term Loan”). The Company’s obligations under the First Lien Credit Agreement are guaranteed by the Company and each of the Company’s other direct and indirect subsidiaries (other than certain excluded subsidiaries) pursuant to a First Lien Guarantee Agreement (the “First Lien Guarantee Agreement”) and are required to be guaranteed by each of the Company’s direct and indirect subsidiaries (other than certain excluded subsidiaries) that may be formed or acquired after the PSP Closing Date. The obligations of the Company under the First Lien Credit Agreement are secured on a first priority basis by substantially all of the assets and are secured on a second priority basis by credit card receivables, accounts receivable, deposit accounts, securities accounts, commodity accounts, inventory and goods (other than equipment) of the Company, and in each case are required to be secured by such assets of the Company (other than certain excluded subsidiaries) that may be formed or acquired after the PSP Closing Date. The proceeds of the First Lien Term Loan, together with the proceeds of the Second Lien Term Loan (as defined below) and certain cash on hand of the Company, were used to consummate the Pet Supplies Plus Acquisition and to pay fees and expenses for certain related transactions, including the entry into the ABL Agreement (as defined below). A portion of the First Lien Term Loan and Second Lien Term Loan were also used to repay existing lenders. The First Lien Term Loan will mature on March 10, 2026 and bears interest at a variable rate with a LIBOR floor of 0.75%. Interest is payable on either the last day of the interest period or the last business day of the calendar quarter. The Company is required to repay the First Lien Term Loan in equal quarterly installments of $2.5 million on the last day of each calendar quarter, commencing on June 30, 2021 subject to certain early payment requirements based on certain events. On July 2, 2021, the Company repaid $182.1 million of principal of the First Lien Term Loan using cash proceeds from the sale of the Liberty Tax business. The payment also satisfied the requirements for the quarterly principal payments so no additional principal payments are due until the First Lien Term Loan maturity date. The early repayment resulted in additional interest expense of $6.1 million for the write-off of deferred financing costs. On February 2, 2023, the Company entered into the Third Amendment to the First Lien Credit Agreement, which amends the First Lien Credit Agreement dated as of March 10, 2021 to provide for an incremental term loan facility in the principal amount of $300.0 million. The First Lien Credit Agreement, the First Lien Term Loan and the First Lien Guarantee Agreement collectively include customary affirmative, negative, and financial covenants binding on the Company, including delivery of financial statements and other reports. The negative covenants limit the ability of the Company to, among other things, incur debt, incur liens, make investments, sell assets, pay dividends and enter into transactions with affiliates. The financial covenants set forth in the First Lien Credit Agreement include a maximum total leverage ratio (net of certain cash) and a minimum fixed charge coverage ratio to be tested at the end of each fiscal quarter commencing with the first full fiscal quarter ending after the PSP Closing Date. In addition, the First Lien Credit Agreement includes customary events of default, the occurrence of which may require the Company to pay an additional 2.00% interest on the First Lien Term Loan and/or may result in, among other consequences, acceleration of the payment obligations with respect to the First Lien Term Loan, calling on the guarantees, or exercise of remedies with respect to the collateral. Second Lien Credit Agreement and Second Lien Term Loan On the PSP Closing Date, the Company entered into a Second Lien Credit Agreement (the “Second Lien Credit Agreement”) with various lenders (the “Second Lien Lenders”, and together with the First Lien Lenders, the “Term Loan Lenders”) which provides for a $300.0 million senior secured term loan (the “Second Lien Term Loan”, and together with the First Lien Term Loan, the “Term Loans”), made by the Second Lien Lenders to the Company. The Company’s obligations under the Second Lien Credit Agreement are guaranteed by the loan parties pursuant to a Second Lien Guarantee Agreement (the “Second Lien Guarantee Agreement”) and are required to be guaranteed by each of the Company’s direct and indirect subsidiaries (other than certain excluded subsidiaries) that may be formed or acquired after the Closing Date. The obligations of the Company under the Second Lien Credit Agreement are secured on a second priority basis by the Term Priority Collateral and are secured on a third priority basis by the ABL Priority Collateral (the “ABLE Priority Collateral”) pursuant to a Second Lien Collateral Agreement (the “Second Lien Collateral Agreement”) and are required to be secured by such assets of each of the Company’s direct and indirect subsidiaries (other than certain excluded subsidiaries) that may be formed or acquired after the PSP Closing Date. The Second Lien Term Loan will mature on September 10, 2026 and bears interest at a variable rate with a 1.00% LIBOR floor. Interest is payable on either the last day of the interest period or the last business day of the calendar quarter. The Second Lien Term Loan is not subject to scheduled amortization. Solely to the extent the First Lien Term Loan and related obligations have been repaid in full, the Company is required to prepay the Second Lien Term Loan with 50% of consolidated excess cash flow on an annual basis, subject to certain exceptions and to leverage-based step-downs to 25% and 0%, and with 100% of the net cash proceeds of certain other customary events, including certain asset sales (but excluding sales of ABL Priority Collateral), including customary reinvestment rights and leverage-based step-downs to 50% and 0%, in each case, subject to certain exceptions. Third Amended and Restated Loan and Security Agreement (ABL) On June 3, 2022, the Company entered into the Second Amendment (the “Second ABL Amendment”) to the Third Amended and Restated Loan and Security Agreement (as amended, the “FRG ABL Revolver Agreement”). The Second ABL Amendment amended the FRG ABL Revolver Agreement to, among other things, increase the commitments under the revolving credit facility (the “ABL Revolver”) to $250.0 million, change the reference rate from LIBOR to SOFR, amend certain negative covenants regarding investments for a time period specified in the Second ABL Agreement, and limits the maximum principal amount of loans outstanding under the FRG ABL Revolver Agreement to $200.0 million for a time period specified in the Second ABL Agreement. On August 22, 2022, the Company entered into the Third Amendment (the “Third ABL Amendment”) to the FRG ABL Revolver Agreement. The Third ABL Amendment amends the FRG ABL Revolver Agreement to, among other things, increase the commitments under the ABL Revolver to $400.0 million, amend the terms of the borrowing base and provide for the inclusion of certain types of inventory to the borrowing base, and make certain other changes to reflect the increase in the revolving credit facility commitments and the addition of Badcock as a borrower to the parties under the ABL Loan Revolver. The ABL Revolver matures on March 10, 2026, and borrowings under the ABL Revolver will bear interest at an interest rate per annum equal to the Term SOFR Rate plus 0.10%, with a 0.00% floor. Interest is payable on either the last day of the interest period or the last business day of the calendar quarter. The Company is subject to an agreement which requires the Company to repay the excess amount of borrowings under the ABL Revolver if: (i) the aggregate outstanding principal amount of all borrowings by the Company under the ABL Revolver at any time exceeds the aggregate borrowing cap specified therein, or (ii) the aggregate outstanding principal amount of all borrowings of certain of the Company’s subsidiaries exceeds their borrowing caps. The FRG ABL Revolver Agreement and the Third Amended and Restated Pledge Agreement, dated as of March 10, 2021, among the Company, the other pledgors from time to time party thereto and JPMorgan Chase Bank, N.A., include customary affirmative and negative covenants that are binding on the Company, including the delivery of financial statements, borrowing base certificates and other reports. Certain of the negative covenants included therein limit the ability of the Company, among other things, to incur debt and liens, make investments, sell assets, pay dividends and enter into transactions with affiliates. In addition, the FRG ABL Revolver Agreement includes customary events of default, the occurrence of which may require the Company to pay an additional 2.0% interest on the borrowings under the ABL Revolver. Compliance with Debt Covenants The Company’s revolving credit and long-term debt agreements impose restrictive covenants on it, including requirements to meet certain ratios. As of December 31, 2022, the Company was in compliance with all financial covenants under these agreements and, based on a continuation of current operating results, the Company expects to continue to be in compliance for the next twelve months. Aggregate maturities of long-term debt at December 31, 2022 were as follows: (In thousands) Estimate for fiscal year 2023 $ 7,327 2024 4,605 2025 297,939 2026 1,071,210 2027 1,255 Thereafter — Total $ 1,382,336 During the year ended December 31, 2022, the Badcock First and Second Lien Term Loans were fully repaid using cash proceeds from the sales of certain parcels of land on which Badcock operates its distribution centers and corporate headquarters as discussed in “Note 3 - Divestitures” and from the securitization of its existing consumer credit receivables portfolio as discussed in “Note 5 - Securitized Accounts Receivable.”

Stock Compensation Plan

Stock Compensation Plan	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock Compensation Plan	Stock Compensation Plan 2019 Omnibus Incentive Plan In December 2019, the Company’s stockholders approved the Company’s 2019 Omnibus Incentive Plan (the “2019 Plan”). The 2019 Plan provides for a variety of awards, including stock options, stock appreciation rights, performance units, performance shares, shares of the Company’s common stock, par value $0.01 per share, restricted stock, restricted stock units, incentive awards, dividend equivalent units and other stock-based awards. Awards under the 2019 Plan may be granted to the Company’s eligible employees, directors, or consultants or advisors. The 2019 Plan provides that an aggregate maximum of 5,000,000 shares of common stock are reserved for issuance under the 2019 Plan, subject to adjustment for certain corporate events. At December 31, 2022 and December 25, 2021, 2,439,194 and 3,004,259 shares of common stock remained available for grant, respectively. Restricted Stock Units The Company has awarded service-based restricted stock units (“RSUs”) to its non-employee directors, officers and certain employees. The Company recognizes expense based on the estimated fair value of the RSUs granted over the vesting period on a straight-line basis. The fair value of RSUs is determined using the Company’s closing stock price on the date of the grant. At December 31, 2022, unrecognized compensation cost related to RSUs was $5.1 million. These costs are expected to be recognized through fiscal 2023. The following table summarizes the status of service-based RSU activity during the years ended December 31, 2022, December 25, 2021, and December 26, 2020: Number of RSUs Weighted-Average Fair Value at Grant Date Balance at December 28, 2019 205,206 $ 13.11 Granted 192,809 24.83 Vested (85,911) 12.67 Forfeited (15,957) 19.69 Balance at December 26, 2020 296,147 $ 20.51 Granted 124,350 35.95 Vested (148,447) 20.11 Forfeited (2,342) 12.22 Balance at December 25, 2021 269,708 $ 27.92 Granted 118,359 42.15 Vested (114,765) 29.26 Forfeited — — Balance at December 31, 2022 273,302 $ 36.39 Performance Restricted Stock Units The Company has awarded performance restricted stock units (“PRSUs”) to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the PRSUs granted over the vesting period on a straight-line basis. The fair value of PRSUs is determined using the Company’s closing stock price on the date of the grant. As the achievement of outstanding awards issued in fiscal years 2021 and 2022 was not probable at December 31, 2022, there were no unrecognized compensation costs related to these PRSUs. The following table summarizes the status of PRSU activity during the years ended December 31, 2022, December 25, 2021, and December 26, 2020: Number of PRSUs Weighted-Average Fair Value at Grant Date Balance at December 28, 2019 465,833 $ 14.40 Granted 154,904 24.84 Vested — — Forfeited (2,000) 14.40 Balance at December 26, 2020 618,737 $ 17.00 Granted 107,023 35.66 Vested (19,500) 14.40 Forfeited — — Balance at December 25, 2021 706,260 $ 19.90 Granted 102,930 42.25 Adjusted for performance results achieved (1) 222,166 14.38 Vested (666,499) 14.38 Forfeited — — Balance at December 31, 2022 364,857 $ 32.92 (1) Represents an adjustment for performance results achieved related to outstanding 2019 PRSU shares that vested and were issued in November 2022 at 150% achievement. Market-Based Restricted Stock Units The Company has awarded market-based restricted stock units (“MPRSUs”) to its officers and certain employees. The Company recognizes expense based on the estimated fair value of the MPRSUs granted over the vesting period on a straight-line basis. The fair value of MPRSUs is determined using a Monte Carlo simulation valuation model to calculate grant date fair value. Compensation expense is recognized over the requisite service period using the proportionate amount of the award’s fair value that has been earned through service to date. At December 31, 2022, unrecognized compensation cost related to MPRSUs was $9.8 million. These costs are expected to be recognized through fiscal 2024. The following table summarizes the status of MPRSU activity during the years ended December 31, 2022 and December 25, 2021: Number of MPRSUs Weighted-Average Fair Value at Grant Date Balance at December 26, 2020 — $ — Granted 826,926 20.13 Vested — — Forfeited — — Balance at December 25, 2021 826,926 $ 20.13 Granted 70,000 39.67 Vested — — Forfeited (56,000) 20.26 Balance at December 31, 2022 840,926 $ 21.77 Stock Options The Company has awarded stock options to its non-employee directors and officers. Since fiscal 2020, no stock options have been granted and all outstanding stock options were fully vested with no remaining unrecognized compensation cost. All outstanding stock options will expire in fiscal years 2023 and 2024. The following table summarizes information about stock options outstanding and exercisable at December 31, 2022. Options outstanding and exercisable Range of Exercise Prices Number of options outstanding and exercisable Weighted-average exercise price Weighted-average remaining contractual life (in years) 0.00 - 10.89 200,000 $ 8.81 0.9 10.90 - 12.01 54,564 11.97 0.9 254,564 $ 9.49 Stock Compensation Expense The Company recorded $15.1 million, $13.4 million, and $8.9 million of expense related to stock awards from continuing operations for the years ended December 31, 2022, December 25, 2021, and December 26, 2020, respectively. Long-Term Incentive Plans The Company has long-term incentive plans at various operating companies which are recorded as liabilities. Upon vesting, the awards granted under these plans may be settled in cash or shares of the Company’s stock at the Company’s discretion. The total aggregate liability for these plans as of December 31, 2022 is $8.3 million, recorded in “Accounts payable and accrued expenses” on the Consolidated Balance Sheets. During the year ended December 31, 2022, total expense recognized related to these plans was $8.0 million.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Tax Receivable Agreement The Company previously had a non-controlling interest as a result of its acquisition of Buddy’s on July 10, 2019. On April 1, 2020, the Company redeemed all of the non-controlling interest units. On July 10, 2019, the Company entered into a tax receivable agreement (the “TRA”) with the then-existing non-controlling interest holders, which comprised the Buddy’s Members that provides for the payment by the Company to the non-controlling interest holders of 40% of the cash savings, if any, in federal, state and local taxes that the Company realizes or is deemed to realize as a result of any increases in tax basis of the assets of New Holdco resulting from future redemptions or exchanges of New Holdco units. During the year ended December 26, 2020, the Company acquired an aggregate of 9,433,332 New Holdco units, which resulted in an increase in the tax basis of its investment in New Holdco subject to the provisions of the TRA. Prior to December 31, 2022, the Company recognized a total liability in the amount of $17.3 million for the payments due to the redeeming members under the Tax Receivable Agreement (“TRA Payments”), representing 40% of the cash savings it expects to realize from the tax basis increases related to the redemption of New Holdco units. TRA Payments will be made when such TRA related deductions actually reduce the Company’s income tax liability. Payments of $1.9 million were made to the Buddy’s Members pursuant to the TRA during the year ended December 31, 2022, which reduced the total liability to $15.4 million. Pursuant to the Company’s election under Section 754 of the Internal Revenue Code (the “Code”), the Company has obtained an increase in its share of the tax basis in the net assets of New Holdco when the New Holdco units were redeemed or exchanged by the non-controlling interest holders and other qualifying transactions. The Company has treated the redemptions and exchanges of New Holdco units by the non-controlling interest holders as direct purchases of New Holdco units for U.S. federal income tax purposes. This increase in tax basis will reduce the amounts that it would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The Coronavirus Aid, Relief, and Economic Security (CARES) Act The Coronavirus Aid, Relief, and Economic Security, or CARES Act (the “Act”) was enacted on March 27, 2020. The Act retroactively changed the eligibility of certain assets for expense treatment in the year placed in service, back to 2018, and permitted any net operating loss for the tax years 2018, 2019 and 2020 to be carried back for 5 years. The Company recorded a total income tax benefit of $52.3 million during the year ended December 26, 2020 associated with the income tax components contained in the Act. As of December 31, 2022, the Company has completed its analysis of the tax effects of the Act but continues to monitor developments by federal and state rule making authorities regarding implementation of the Act. The Company will adjust, if needed, as new laws or guidance becomes available. Global intangible low-taxed income (GILTI) The Tax Cuts and Jobs Act subjects a U.S. shareholder to tax on GILTI earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. The Company elected to account for GILTI in the year the tax is incurred as a period cost. Components of income tax expense for the fiscal years ended December 31, 2022, December 25, 2021, and December 26, 2020 were as follows: (In thousands) 12/31/2022 12/25/2021 12/26/2020 Current: Federal $ 52,046 $ — $ (62,897) State 12,238 1,362 615 Current tax expense 64,284 1,362 (62,282) Deferred: Federal (61,372) (37,816) 3,931 State (11,757) 2,916 (2,150) Deferred tax expense (benefit) (73,129) (34,900) 1,781 Total income tax expense (benefit) $ (8,845) $ (33,538) $ (60,501) For the years ended December 31, 2022, December 25, 2021, and December 26, 2020, income before taxes consisted of the following: (In thousands) 12/31/2022 12/25/2021 12/26/2020 Income (loss) before income taxes $ (77,418) $ 158,428 $ (49,557) Income tax benefit differed from the amounts computed by applying the U.S. federal income tax rate of 21% to pre-tax income from continuing operations as a result of the following for years ended December 31, 2022 and December 25, 2021 are as follows: (In thousands) 12/31/2022 12/25/2021 Computed “expected” income tax benefit $ (16,258) $ 33,270 Increase (decrease) in income taxes resulting from: State income taxes, net of federal benefit (2,788) 5,304 Bargain purchase gain (738) (27,729) 162(m) limitation 2,555 2,019 Nondeductible expenses 127 197 Stock compensation expense (349) (900) Transaction costs (179) 858 Subpart F Income 43 — Impairment of goodwill 14,700 — Return to provision 2,385 — Change in uncertain tax position (1,768) (66) Decrease in valuation allowance (6,796) (45,180) Tax rate change 1,049 (1,311) Other (828) — Total income tax expense (benefit) $ (8,845) $ (33,538) The tax effect of temporary differences between the financial statement carrying amounts and tax basis of assets and liabilities that give rise to significant portions of deferred tax assets and liabilities as of December 31, 2022 and December 25, 2021 are as follows: (In thousands) 12/31/2022 12/25/2021 Deferred tax assets: Federal and state net operating loss carryforward $ 11,068 $ 16,865 Section 743 adjustment 36,006 38,604 Interest expense carryforward 1,098 1,485 State bonus depreciation 4,587 5,069 Equity compensation 6,488 3,806 Inventory 9,349 4,528 Deferred revenue 6,807 4,176 Accrued expenses and reserves 4,932 9,976 Allowances 19,446 795 Lease liability (ASC 842) 235,743 185,064 Other 21,238 3,463 Total deferred tax assets (before valuation allowance) 356,762 273,831 Valuation allowance (1,417) (8,213) Total deferred tax assets (after valuation allowance) 355,345 265,618 Deferred tax liabilities Property, plant, and equipment (U.S.) (31,165) (78,895) Goodwill, intangible assets, and assets held for sale (U.S.) (48,142) (33,786) Right-of-use assets (ASC 842) (230,501) (181,227) Prepaid expenses (7,010) (4,968) Total deferred tax liabilities (316,818) (298,876) Net deferred tax asset (liability) $ 38,527 $ (33,258) In assessing the realizability of the gross deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. The Company decreased its valuation allowance by $6.8 million. As of December 31, 2022, the Company has gross U.S. federal net operating losses of $39.9 million, state net operating losses of $42.8 million, a portion of which will begin to expire in 2024. A portion of the Company’s net operating loss carry forwards is subjected to an annual limitation under Section 382, which may restrict the Company’s ability to use them to offset its taxable income in future periods. The Company adopted the accounting and disclosure requirements for uncertain tax positions, which require a two-step approach to evaluate tax positions. This approach involves recognizing any tax positions that are more likely than not to occur and then measuring those positions to determine the amounts to be recognized in the financial statements. The Company decreased reserves for uncertain tax positions by $1.5 million due to statute expiration and $0.4 million due to audit protection as of December 31, 2022. The Company increased reserves for an additional year of interest on prior tax positions. It is reasonably possible that $1.1 million of uncertain tax positions may be recognized in the coming year as a result of a lapse of the statute of limitations. A reconciliation of the beginning and ending balance of the gross liability for uncertain tax positions for the fiscal years ended December 31, 2022 and December 25, 2021, is as follows: (In thousands) 12/31/2022 12/25/2021 Liability for uncertain tax positions, beginning of year $ 4,957 $ 357 Decreases related to prior year positions (1,938) (219) Increases related to prior year positions 170 4,819 Liability for uncertain tax positions, end of year $ 3,189 $ 4,957

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company considers directors and their affiliated companies, as well as named executive officers and members of their immediate families, to be related parties. Messrs. Kahn and Laurence Brian Kahn and Vintage Capital Management, LLC and its affiliates (“Vintage”), in aggregate, held approximately 40.2% of the aggregate voting power of the Company through their ownership of common stock as of December 31, 2022. Mr. Kahn and Andrew Laurence are principals of Vintage. Mr. Kahn is a member of the Board, President and Chief Executive Officer of the Company. Mr. Laurence is an Executive Vice President of the Company and served as a member of the Company’s Board until May 2021. Buddy’s Franchises. Mr. Kahn’s brother-in-law owns eight Buddy’s franchises. All transactions between the Company’s Buddy’s segment and Mr. Kahn’s brother-in-law are conducted on a basis consistent with other franchisees. Tax Receivable Agreement In connection with the Company’s acquisition of Buddy’s, the Company entered into a TRA with the Buddy’s Members that provides for the payment to the Buddy’s Members of 40% of the amount of any tax benefits that the Company actually realizes as a result of increases in the tax basis of the net assets of New Holdco resulting from any redemptions or exchanges of New Holdco units. Amounts due under the TRA to the Buddy’s Members as of December 31, 2022, were $15.4 million which is recorded in “Other non-current liabilities” in the accompanying Consolidated Balance Sheets. P ayments made to Buddy’s Members pursuant to the Tax Receivable Agreement totaled $1.9 million during the year ended December 31, 2022, of which entities under the control of Vintage and Mr. Kahn received $1.7 million.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of operations, the Company may become a party to legal proceedings. Based upon information currently available, management believes that such legal proceedings, individually or in the aggregate, will not have a material adverse effect on the Company’s business, financial condition, cash flows, or results of operations. The Company is party to claims and lawsuits that are considered to be ordinary, routine litigation incidental to the business, including claims and lawsuits concerning the fees charged to customers for various products and services, relationships with franchisees, intellectual property disputes, employment matters, and contract disputes. Although the Company cannot provide assurance that it will ultimately prevail in each instance, it believes the amount, if any, it will be required to pay in the discharge of liabilities or settlements in these claims will not have a material adverse impact on its consolidated results of operations, financial position, or cash flows. Guarantees The Company remains secondarily liable under various real estate leases that were assigned to franchisees who acquired Pet Supplies Plus or Vitamin Shoppe stores from the Company. In the event of the failure of an acquirer to pay lease payments, the Company could be obligated to pay the remaining lease payments which extend through 2033 and aggregated $30.2 million as of December 31, 2022. In certain cases, the Company could attempt to recover from the franchisees’ personal assets should the Company be required to pay remaining lease obligations. The Company also remains secondarily liable under loan agreements entered into by certain franchisees who acquired American Freight or Buddy’s stores from the Company. In the event of the failure of these franchisees to make the loan payments, the Company could be obligated to pay the default amounts. No amounts were outstanding under these agreements, and, therefore, the Company has no potential guarantee liability as of December 31, 2022. If the Company is required to make payments under these guarantees, the Company could seek to recover those amounts from the franchisees or in some cases their affiliates. The Company believes that payment under these guarantees is remote as of December 31, 2022.

Segments

Segments	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segments	Segments The Company’s operations are conducted in six reporting business segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy’s and Sylvan. The Company defines its segments as those operations which results its Chief Operating Decision Maker (“CODM”) regularly reviews to analyze performance and allocate resources. The Company measures the results of our segments using, among other measures, each segment’s net revenues and operating income (loss). Total revenues by segment are as follows: Year Ended (In thousands) 12/31/2022 12/25/2021 12/26/2020 Total revenue: Vitamin Shoppe $ 1,206,824 $ 1,172,725 $ 1,035,964 Pet Supplies Plus 1,288,724 917,439 — Badcock 919,057 102,057 — American Freight 883,484 988,892 896,431 Buddy’s 57,407 64,409 97,332 Sylvan 42,336 9,682 — Consolidated total revenue $ 4,397,832 $ 3,255,204 $ 2,029,727 Operating income (loss) by segment are as follows: Year Ended (In thousands) 12/31/2022 12/25/2021 12/26/2020 Operating income (loss): Vitamin Shoppe $ 106,789 $ 104,004 $ 5,371 Pet Supplies Plus 81,228 41,654 — Badcock 129,104 22,674 — American Freight (79,524) 66,541 40,348 Buddy’s 12,520 16,685 20,364 Sylvan 5,328 (712) — Corporate (34,238) $ (24,495) (13,572) Operating income (loss): $ 221,207 $ 226,351 $ 52,511 (In thousands) 12/31/2022 12/25/2021 Total assets: Vitamin Shoppe $ 625,543 $ 596,964 Pet Supplies Plus 977,234 957,849 Badcock 789,727 1,062,310 American Freight 904,378 959,282 Buddy’s 135,192 146,033 Sylvan 90,361 103,850 Corporate 107,977 86,883 Consolidated total assets $ 3,630,412 $ 3,913,171

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 2, 2023, the Company entered into the Third Amendment to the First Lien Credit Agreement, which amends the First Lien Credit Agreement dated as of March 10, 2021 to provide for an incremental term loan facility in the principal amount of $300.0 million and change the reference rate under the First Lien Credit Agreement from LIBOR to SOFR. The net proceeds will be used to repay certain amounts outstanding under the Company’s ABL Credit Agreement. On February 24, 2023, the Company's Board of Directors declared quarterly dividends of $0.625 per share of common stock and $0.46875 per share of Series A Preferred Stock. The dividends will be paid in cash on or about April 13, 2023 to holders of record of the Company's common stock and Series A Preferred Stock on the close of business on March 31, 2023.

Organization and Significant _2

Organization and Significant Accounting Policies - Policy Text Blocks (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Organization and Plan of Reorganization	Description of Business . Franchise Group, Inc. (the “Company”) is an owner and operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophies to generate strong cash flows. The Company has a diversified and growing portfolio of highly recognized brands. Acquisitions. For a complete description of the Company’s acquisitions, refer to “Note 2 - Acquisitions”. On March 10, 2021, the Company completed its acquisition of Pet Supplies Plus for an aggregate purchase price of $451.3 million. On September 27, 2021, the Company completed its acquisition of Sylvan Learning (“Sylvan”) for an aggregate purchase price of $82.9 million. On November 22, 2021, the Company completed its acquisition of Badcock Home Furniture & more (“Badcock”) for an aggregate purchase price of $548.8 million . The assets acquired and the liabilities assumed in the acquisitions above are recorded at fair value in accordance with Accounting Standards Codification (“ASC”) 805, “Business Combinations.” Acquisition-related costs are expensed as incurred. The purchase price is allocated to the various tangible and intangible assets acquired and liabilities assumed, based on their estimated fair values. In the case where there is an excess of aggregate net fair value of assets acquired and liabilities assumed over the fair value of consideration transferred, the purchase price will be recorded as a bargain purchase gain. Determining the fair value of certain assets and liabilities is subjective in nature and often involves the use of significant estimates and assumptions, which are inherently uncertain. Many of the estimates and assumptions used to determine fair values, such as those used for intangible assets are made based on forecasted information and discount rates. In addition, the judgments made in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company’s results of operations.
Segment Reporting	Segment Information . The Company currently operates in six reportable segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy’s and Sylvan. The Vitamin Shoppe segment is an omnichannel specialty retailer and wellness lifestyle company with the mission of providing customers with the most trusted products, guidance and services to help them become their best selves, however they define it. Vitamin Shoppe offers one of the largest varieties of products among vitamin, mineral and supplement retailers. The broad product offering enables Vitamin Shoppe to provide customers with a depth of selection of products that may not be readily available at other specialty retailers or mass merchants, such as discount stores, supermarkets, drug stores and wholesale clubs. Vitamin Shoppe continues to focus on improving the customer experience through the roll-out of initiatives including increasing customer engagement and personalization, enhancing the omnichannel experience (including in stores, online and on mobile devices), growing private brands and improving the effectiveness of pricing and promotions. The Pet Supplies Plus segment is a leading omnichannel retail chain and franchisor of pet supplies and services. Pet Supplies Plus has a diversified revenue model comprised of Company-owned store revenue, franchise royalties and revenue generated by the wholesale distribution of products to its franchisees. Pet Supplies Plus offers a curated selection of premium brands, proprietary private labels and specialty products with retail price parity with online players. Additionally, Pet Supplies Plus offers grooming, pet wash and other services in most of its locations. On February 22, 2022, Pet Supplies Plus completed its acquisition of Wag N’ Wash, an emerging grooming, pet-wash and natural pet food franchise. Wag N’ Wash is primarily focused on dogs, has a store footprint that is substantially smaller than a Pet Supplies Plus location and is operated by the Pet Supplies Plus management. The Badcock segment is a retailer of furniture, appliances, bedding, electronics, home office equipment, accessories and seasonal items in a showroom format. Additionally, Badcock offers multiple and flexible payment solutions and credit options through third parties and its consumer financing services. The Company is in the process of moving the financing business fully to a third-party provider. The American Freight segment is a retail chain offering in-store and online access to furniture, mattresses, new and out-of-box home appliances and home accessories at discount prices. American Freight buys direct from manufacturers and sells direct in warehouse-style stores. By cutting out the middleman and keeping its overhead costs low, American Freight can offer quality products at low prices. The American Freight segment provides customers with multiple payment options including third-party financing providing access to high-quality products and brand name appliances that may otherwise remain aspirational to some of its customers. American Freight also serves as a liquidation channel for major appliance vendors. American Freight operates specialty distribution centers that test every out-of-box appliance before it is offered for sale to customers. Customers typically are covered by the original manufacturer’s warranty and are offered the opportunity to purchase a full suite of extended-service plans and services. The Buddy’s segment is a specialty retailer of high quality, name brand consumer electronic, residential furniture, appliances and household accessories through rent-to-own agreements. The rental transaction allows customers the opportunity to benefit from the use of high-quality products under flexible rental purchase agreements without long-term obligations.
Principles of Consolidation	Principles of Consolidation . The audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The Company consolidates any entities in which it has a controlling interest, the usual condition of which is ownership of a majority voting interest. Prior to April 1, 2020, the Company reported a non-controlling interest representing the economic interest in Franchise Group New Holdco, LLC (“New Holdco”) held by the former equity holders of Buddy’s (the “Buddy’s Members”). As of April 1, 2020, the Company redeemed all outstanding New Holdco units for shares of common stock of the Company and now has a 100% interest in New Holdco. Refer to “Note 11 - Stockholders’ Equity” for more information on the non-controlling interest. The Company does not possess any ownership interests in franchisee entities; however, the Company may provide financial support to franchisee entities. Because the Company’s franchise arrangements provide franchisee entities the power to direct the activities that most significantly impact their economic performance, the Company does not consider itself the primary beneficiary of any such entity that meets the definition of a variable interest entity (“VIE”). The primary beneficiary is the entity that possesses the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the right to receive benefits from the VIE that are significant to it. Based on the results of management’s analysis of potential VIEs, the Company has not consolidated any franchisee entities. The Company’s maximum exposure to loss resulting from involvement with potential VIEs is attributable to accounts and notes receivables and future lease payments due from franchisees. When the Company does not have a controlling interest in an entity but has the ability to exert significant influence over the entity, the Company applies the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. Fiscal Year End. For the years ended December 25, 2021 and December 26, 2020, our fiscal year ended on the Saturday in December closest to December 31 st . On February 22, 2022, our Board of Directors (“Board”) approved a change in our fiscal year-end from the last Saturday in December closest to December 31 st to the Saturday in December or January, whichever is closest to December 31 st . Fiscal year 2022 ended on December 31, 2022 and included 53 weeks, with the 53 rd week falling in the fourth fiscal quarter, and fiscal years 2021 and 2020 included 52 weeks.
Use of Estimates	Use of Estimates . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Basis of Presentation	Basis of Presentation. Revenues have been classified into product, service and other and rental revenues as further discussed in “Note 8 - Revenue.” Costs of sales for product includes the cost of merchandise, transportation and warehousing costs. Service and other costs of sales include the direct costs of warranties. Rental cost of sales represents the amortization of inventory costs over the leased term. Other operating expenses, including employee costs, depreciation and amortization, and advertising expenses have been classified in selling, general and administrative expenses.
Cash and Cash Equivalents	Cash and Cash Equivalents . The Company considers all highly liquid instruments with maturities of three months or less at the time of purchase, as well as credit card receivables for sales to customers in its Company-owned stores that generally settle within two to five business days, to be cash equivalents. The Company maintains cash and cash equivalent balances with financial institutions that exceed federally-insured limits. The Company has not experienced any losses related to these balances, and the Company believes credit risk to be minimal.
Securitization of Receivables	Securitization of Receivables. Sales of beneficial interests in customer revolving lines of credit are recorded as cash and an equivalent amount is recorded as “Debt secured by accounts receivable, net” on the Company’s Consolidated Balance Sheets. The accounts receivable, which have been securitized, are recorded as “Securitized accounts receivable” on the Consolidated Balance Sheets. The net securitized accounts receivable on the balance sheet include the current and non-current portions, net of allowance for bad debt and an unamortized purchase discount recorded in purchase accounting related to the Badcock Acquisition.
Inventories	Inventories . Inventory for the Vitamin Shoppe segment is recorded at the lower of cost or market value using the weighted-average cost method. Inventory includes costs directly incurred in bringing the product to its existing condition and location. In addition, the cost of inventory is reduced by purchase discounts and other allowances received from vendors. A markdown reserve is estimated based on a variety of factors, including, but not limited to, the amount of inventory on hand and its remaining shelf life, current and expected market conditions and product expiration dates. In addition, the Company has established a reserve for estimated inventory shrinkage based on the actual, historical shrinkage of its most recent physical inventories adjusted, if necessary, for current economic conditions and business trends. Physical inventories and cycle counts are taken on a regular basis. These adjustments are estimates, which could vary significantly from actual results if future economic conditions, customer demand or competition differ from management expectations. Inventory for the Pet Supplies Plus segment is recorded at the lower of cost, determined on the average cost method or net realizable value for store inventories. Pet Supplies Plus includes freight and labor costs on products purchased from its distribution center in cost of products sold. Wholesale inventories are valued at the lower of cost (including freight), determined on the average cost method or net realizable value. Volume-based vendor allowances, rebates, and credits that relate to the Company’s store merchandising activities are applied to product cost and recognized in cost of goods sold as the related product is sold. Inventory for the Badcock segment is comprised of finished goods and is valued at the lower of cost or market value, with cost determined by the first-in, first-out method. Inventory includes the purchase price of the inventory plus costs of freight for moving merchandise from vendors to distribution centers as well as from distribution centers to stores. An obsolescence reserve is estimated based on the amount of inventory on hand, its age, and its condition. Estimates are compared to the actual results of the physical inventory counts as they are taken and adjust the shrink estimates accordingly. Inventory for American Freight is comprised of finished goods and is valued at the lower of cost or market, with cost determined by the first-in, first-out method. The Company writes down inventory, the impact of which is reflected in cost of sales in the consolidated statements of operations, if the cost of specific inventory items on hand exceeds the amount the Company expects to be realized from the ultimate sale or disposal of the inventory. These estimates are based on management’s judgment regarding future demand and market conditions and analysis of historical experience. Inventory includes the purchase price of the inventory plus costs of freight for moving merchandise from vendors to distribution centers as well as from distribution centers to stores. A provision for estimated shrinkage is maintained based on the actual historical results of physical inventories. Estimates are compared to the actual results of the physical inventory counts as they are taken and adjust the shrink estimates accordingly. Inventory for the Buddy’s segment is recorded at cost, including shipping and handling fees. Upon purchase, merchandise is not initially depreciated until it is leased or three months after the purchase date. Non-leased merchandise is depreciated on a straight-line basis over a period of 24 months. Leased merchandise is depreciated over the lease term of the rental agreement and recorded in rental cost of revenue. On a weekly basis, all damaged, lost, stolen, or unsalable merchandise identified is written off. Maintenance and repairs of lease merchandise are charged to operations as incurred.
Receivables and Allowance for Doubtful Accounts	Receivables and Allowance for Doubtful Accounts . Notes and accounts receivable are due from the Company’s franchisees and are collateralized by the underlying franchise. The debtors’ ability to repay the receivables is dependent upon both the performance of the franchisee’s industry as a whole and the individual franchise. The adequacy of the allowance for doubtful accounts is assessed on a quarterly basis and adjusted as deemed necessary. Management believes the recorded allowance is adequate based upon its consideration of the estimated value of the franchises, which collateralize the receivables. Any adverse change in the individual franchisees’ areas could affect the Company’s estimate of the allowance.
Goodwill and Non-amortizing Intangible Assets	Goodwill and Non-amortizing Intangible Assets. Goodwill and non-amortizing intangible assets, including the segments’ tradenames, are not amortized, but rather tested for impairment at least annually. In addition, goodwill and non-amortizing intangible assets will be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. The Company performs a qualitative and/or quantitative assessment to determine whether it is more likely than not that each reporting unit’s fair value is less than its carrying value, including goodwill. If the Company determines that it is more likely than not that the fair value of the reporting unit is less than its carrying value, the Company then estimates the fair value. The Company uses either a market multiple method or a discounted cash flow method to estimate the fair value of its reporting units and recognizes goodwill impairment for any excess of the carrying amount of a reporting unit’s goodwill over its estimated fair value. The Company evaluates the segments’ tradenames for impairment by comparing the fair value, based on an income approach using the relief-from-royalty method, to the carrying value. If the carrying value of the asset exceeds its estimated fair value, an impairment loss is recognized in an amount equal to that excess. The Company’s reporting units are determined in accordance with the provisions of ASC 350, “Intangibles – Goodwill and Other.” The Company performs its annual impairment testing of goodwill and non-amortizing intangible assets on the last day of the first month of the Company’s third quarter. Refer to “Note 7 – Goodwill and Intangible Assets” for additional information on these balances. Intangible Assets and Asset Impairment. Components of intangible assets consist of customer contracts, franchise and dealer agreements, and proprietary content. Amortization of intangible assets is calculated using the straight-line method over the estimated useful lives of the assets. Amortization of intangible assets is generally two to ten years. Purchased intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. Recognition and measurement of a potential impairment is performed for these assets at the lowest level where cash flows are individually identifiable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary.
Property, Plant, and Equipment	Property, Plant, and Equipment. Property, plant, and equipment are stated at cost less accumulated depreciation and amortization. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, generally seven twenty thirty seven fifteen thirty-nine five ten seven three five two five
Insurance Program	Insurance Programs . The Company maintains its own insurance arrangements with third-party insurance companies for exposures incurred for a number of risks including worker’s compensation and general liability claims. The liability represents an estimate of the discounted cost of claims incurred and is recorded in other current and long-term liabilities. The Company may use restricted cash as collateral for these programs which is recorded in “Other non-current assets.”
Employee Compensation and Benefits	Employee Compensation and Benefits. The Company records the cost of its employee compensation and benefits as compensation expense in selling, general and administrative expenses within its Consolidated Statements of Operations.
Stock-Based Compensation	Stock-Based Compensation. The Company records the cost of its employee stock-based compensation as compensation expense in its consolidated statements of operations. Compensation costs related to stock options are based on the grant-date fair value of awards using the Black-Scholes-Merton option pricing model and considering forfeitures. Compensation costs related to restricted stock units are based on the grant-date fair value and are amortized on a straight-line basis over the vesting period. The Company recognizes compensation costs for an award that has a graded vesting schedule on a straight-line basis over the requisite service period for the entire award. Compensation costs related to market-based restricted stock units are based on the grant-date fair value of the awards using a Monte Carlo simulation valuation model to calculate grant date fair value. Compensation expense is recognized over the requisite service period using the proportionate amount of the award’s fair value that has been earned through service to date.
Revenue Recognition	Revenue Recognition. The following is a description of the principal activities from which the Company generates its revenues. For more detailed information regarding reportable segments, refer to “Note 8 - Revenue.” • Product revenues: These include sales of merchandise at the stores and online. Revenue is measured based on the amount of fixed consideration that the Company expects to receive, reduced by estimates for variable consideration such as returns. Revenue also excludes any amounts collected from customers and remitted or payable to governmental authorities. In arrangements where the Company has multiple performance obligations, the transaction price is allocated to each performance obligation using the relative stand-alone selling price. The Company satisfies its performance obligations at the point of sale for retail store transactions and upon delivery for online transactions. The Company recognizes revenue for retail store and online transactions when it transfers control of the goods to the customer. Merchandise sales also include payments received for the exercise of the early purchase option offered through rental-purchase agreements or merchandise sold through point of sale transactions. Revenue for merchandise sales associated with rental purchase agreements is recognized when payment is received, and ownership of the merchandise passes to the customer. • Service and other revenues: These may include the following: ◦ Royalties and advertising fees; ◦ Financing revenue; ◦ Warranty and damage revenue; ◦ Interest income; ◦ Services and extended-service plans; and ◦ Other miscellaneous income. Commissions earned on services and financing revenue are presented net of related costs because the Company is acting as an agent in arranging the services for the customer and does not control the services being rendered. Financing revenue includes revenue received from third party financing companies. The Company recognizes revenue on the commissions on extended-service plans when it transfers control of the related goods to the customer. The Company recognizes franchise fee revenue for the sales of individual territories on a straight-line basis over the initial contract term and renewal periods when the obligations of the Company to prepare the franchisee for operation are substantially complete, not to exceed the estimated amount of cash to be received. Royalties and advertising fees are recognized as franchisees generate sales. twelve
Leases	Leases. The Company’s lease portfolio primarily consists of leases for its retail store locations, office space and distribution centers, as well as in the operation of certain of our dealer-owned stores. The Company also leases tractors and trucks used in its Badcock segment, local delivery trucks used in its American Freight segment, and leases certain office equipment under finance leases. The finance lease right of use assets are included in property, plant, and equipment (“PP&E”) and the finance lease liabilities are included in current and non-current installments of long-term obligations. The Company determines if an arrangement is a lease at inception by evaluating whether the arrangement conveys the right to use an identified asset and whether the Company obtains substantially all of the economic benefits from and has the ability to direct the use of the asset. Operating leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets, and the Company recognizes rent expense for these leases on a straight-line basis over the lease term. For leases with an initial term in excess of 12 months, lease right-of-use assets and lease liabilities are recognized based on the present value of the future lease payments over the committed lease term at the lease commencement date. The Company’s leases do not provide an implicit rate; therefore, the Company uses its incremental borrowing rate and the information available at the lease commencement date in determining the present value of future lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Most leases include one or more options to renew and the exercise of renewal options is at the Company’s sole discretion. The Company does not include renewal options in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company uses the long-lived assets impairment guidance in ASC 360-10, “Property, Plant, and Equipment - Overall,” to determine whether a right-of-use asset is impaired, and if so, the amount of the impairment loss to recognize. The Company subleases some of its real estate leases. The lessor and sublease portfolio primarily consists of stores within our Badcock segment that have been leased to dealers. For leases where the Company is a lessor, rent income and related operating lease expense for lease payments is recognized on a straight-line basis over the lease term. For operating leases, lease costs are recorded within selling, general, and administrative expenses (“SG&A”) within the consolidated statements of operations as follows: (1) rental expense related to leases for Company-owned stores, and (2) rental expense for leased properties that are subsequently subleased to dealers, offset by rental income from sublease agreements with dealers. For finance leases where the Company is the lessee, lease cost includes the amortization of the right-of-use (“ROU”) asset, which is amortized on a straight-line basis and recorded to “SG&A” and interest expense on the finance lease liabilities is recorded to “Interest expense, net.” Finance lease ROU assets are amortized over the shorter of their estimated useful lives or the terms of the respective leases. The Company’s subleases and leases for which the Company is a lessor are all classified as operating leases, for which the Company accounts for the lease and non-lease components as one lease component, as discussed above. The Company has lease agreements with lease and non-lease components, which the Company elects to combine as one lease component for all classes of underlying assets. Non-lease components include variable costs based on actual costs incurred by the lessor related to the payment of real estate taxes, common area maintenance, and insurance. These variable payments are expensed as incurred as variable lease costs.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. As required, financial assets and liabilities are classified in the fair value hierarchy in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The carrying value of Cash and cash equivalents, restricted cash, accounts receivable and accounts payable as reported in the accompanying Consolidated Balance Sheets approximate fair value due to their short-term maturities. The carrying amount of Long-term debt approximates fair value because the interest rate paid has a variable component. The fair value for the Company’s Investment in equity securities for which it does not have the ability to exercise significant influence is based on quoted prices in active markets.
Deferred Income Taxes	Deferred Income Taxes. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities, which are recorded within “Other non-current assets” and “Other non-current liabilities” within the Consolidated Balance Sheets, are recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In accordance with accounting standards, the Company assesses the likelihood that its deferred tax assets will be realized. Deferred tax assets are reduced by a valuation allowance when, after considering all available positive and negative evidence, it is determined that it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. The Company will analyze its position in subsequent reporting periods, considering all available positive and negative evidence, in determining the expected realization of its deferred tax assets. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company has elected to classify interest charged on a tax settlement in interest expense, and accrued penalties, if any, in selling, general, and administrative expenses. The determination of the Company’s provision for income taxes requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. Significant judgment is required in assessing the timing and amounts of deductible and taxable items. The Company records unrecognized tax benefit liabilities for known or anticipated tax issues based on an analysis of whether, and the extent to which, additional taxes will be due.
Repurchases of Common Stock	Repurchases of Common Stock. The Company repurchases shares of its common stock through open market or private transactions. During the year ended December 31, 2022, all purchases of common stock under the Company’s stock repurchase program were made at prices that exceeded the par value of the repurchased common stock, and the portions of the purchase prices that exceeded par value were charged to additional paid-in capital to the extent that an excess was present. Once additional paid-in capital is fully depleted, remaining excess of cost over par value is charged to retained earnings. Refer to “Note 11 - Stockholders’ Equity” for additional information regarding share repurchases.
Accounting Pronouncements	Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “ Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” , which changes how companies will measure credit losses for most financial assets and certain other instruments that aren’t measured at fair value through net income. The standard replaces the “incurred loss” approach with an “expected loss” model for instruments measured at amortized cost (which generally will result in the earlier recognition of allowances for losses) and requires companies to record allowances for available-for-sale debt securities, rather than reduce the carrying amount. In addition, companies will have to disclose significantly more information, including information used to track credit quality by year of origination, for most financing receivables. The ASU should be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the standard is effective. The ASU is effective for the Company for the 2023 fiscal year. The Company is in the process of adopting this standard and anticipates recording a cumulative effective adjustment between $11.0 million and $16.0 million to retained earnings as of January 1, 2023 on its Consolidated Financial Statements Results for reporting periods beginning after January 1, 2023 will be presented under the new guidance issued in ASU 2016-13. Prior period amounts will not be adjusted and will continue to be reported under the previous accounting standards. In January 2017, the FASB issued ASU No. 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. ” This standard eliminates Step 2 from the goodwill impairment test. Instead, an entity should compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The Company early adopted the ASU in the year ended December 31, 2022. Refer to “Note 7 – Goodwill and Intangible Assets” for the calculation of the Company’s impairment test after the adoption of ASU 2017-04. The London Interbank Offered Rate (“LIBOR”) is scheduled to be discontinued on June 30, 2023. In an effort to address the various challenges created by such discontinuance, the FASB issued an amendment to existing guidance, ASU No. 2020-04, “ Reference Rate Reform .” The amended guidance is designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g., loans, debt securities, derivatives, borrowings) necessitated by the reference rate reform. It also provides optional expedients to enable companies to continue to apply hedge accounting to certain hedging relationships impacted by the reference rate reform. As further described in “Note 10 – Long-Term Obligations”, the Company entered into an amendment to a debt agreement which changed the reference rate from LIBOR to Secured Overnight Financing Rate (“SOFR”). The adoption of ASU 2020-04 did not result in a material impact to the Company’s financial results or disclosures.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the final allocation of the fair values of the identifiable assets acquired and liabilities assumed in the Badcock Acquisition on November 22, 2021. (In thousands) November 22, 2021 Cash and cash equivalents $ 23,413 Inventories 130,045 Accounts receivable 411,268 Other current assets 5,023 Property, plant, and equipment 238,865 Operating lease right-of-use assets 55,626 Other non-current assets 2,506 Total assets 866,746 Current operating lease liabilities 12,070 Accounts payable and accrued expenses 71,436 Other current liabilities 18,942 Current installments of long-term obligations 5,261 Long-term obligations, excluding current installments 7,247 Non-current operating lease liabilities 39,599 Other long-term liabilities 27,849 Total liabilities 182,404 Bargain purchase gain (135,557) Consideration transferred $ 548,785 The table below summarizes the fair values of the identifiable assets acquired and liabilities assumed in the Sylvan Acquisition on September 27, 2021. (In thousands) September 27, 2021 Cash and cash equivalents $ 4,364 Other current assets 3,592 Property, plant, and equipment 26,324 Goodwill 19,406 Tradenames 24,987 Operating lease right-of-use assets 2,874 Other intangible assets 19,412 Other non-current assets 185 Total assets 101,144 Current operating lease liabilities 891 Accounts payable and accrued expenses 6,072 Non-current operating lease liabilities 1,984 Other long-term liabilities 9,320 Total liabilities 18,267 Consideration transferred $ 82,877 The table below summarizes the fair values of the identifiable assets acquired and liabilities assumed in the Pet Supplies Plus Acquisition on March 10, 2021. (In thousands) March 10, 2021 Cash and cash equivalents $ 2,131 Other current assets 39,844 Inventories 118,600 Property, plant, and equipment 75,616 Goodwill 335,995 Operating lease right-of-use assets 151,243 Tradenames 104,400 Other intangible assets 101,400 Other non-current assets 6,393 Total assets 935,622 Current operating lease liabilities 25,405 Accounts payable and accrued expenses 82,237 Other current liabilities 1,606 Current installments of long-term obligations 3,507 Long-term obligations, excluding current installments 247,458 Non-current operating lease liabilities 114,292 Other long-term liabilities 9,761 Total liabilities 484,266 Consideration transferred $ 451,356
Schedule of Business Acquisitions, by Acquisition	(In thousands) December 27, 2020 Cash and cash equivalents $ 6 Other current assets 96 Inventories 6,450 Property, plant, and equipment 3,280 Goodwill 2,947 Operating lease right-of-use assets 26,571 Total assets 39,350 Current operating lease liabilities 2,587 Other current liabilities 299 Non-current operating lease liabilities 22,624 Total liabilities 25,510 Consideration transferred $ 13,840
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments	The following unaudited consolidated pro forma summary has been prepared by adjusting the Company’s historical data to give effect to the Acquisitions as if they had occurred on December 29, 2019. (Unaudited) (In thousands) Year Ended 12/25/2021 Year Ended 12/26/2020 Revenue $ 4,282,329 $ 3,849,583 Net income (loss) from continuing operations 184,574 $ 92,954 Basic net income per share - continuing operations 4.59 $ 2.69 Diluted net income per share - continuing operations 4.51 $ 2.66

Divestitures (Tables)

Divestitures (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Income (Loss) from Discontinued Operation, Net of Tax	The following is a Consolidated Statement of Operations for the Liberty Tax business. The amounts are included in “Income (loss) from discontinued operations, net of tax” in the Company’s Consolidated Statements of Operations. Year Ended (In thousands) 12/25/2021 12/26/2020 Revenue $ 107,486 $ 122,777 Selling, general, and administrative expenses 66,042 99,166 Income from operations 41,444 23,611 Other expense: Gain on sale of discontinued operations 188,091 — Other 165 107 Interest expense, net (3) (4,977) Income before income taxes 229,697 18,741 Income tax expense 57,875 2,531 Net Income 171,822 16,210 Less: Net (income) attributable to non-controlling interest — (11,791) Net income attributable to discontinued operations $ 171,822 $ 4,419
Schedule of Discontinued Operation Statement of Cash Flow	The following is the operating and investing activities for the Liberty Tax business. These amounts are included in the Company’s Consolidated Statements of Cash Flows. Year Ended (In thousands) 12/25/2021 12/26/2020 Cash flows provided by operating activities from discontinued operations $ 39,334 $ 52,185 Cash flows provided by investing activities from discontinued operations 173,633 6,259

Accounts and Notes Receivable (

Accounts and Notes Receivable (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Activity Related to Notes Receivable	Current and non-current receivables as of December 31, 2022 and December 25, 2021 are presented in the Consolidated Balance Sheets as follows: (In thousands) 12/31/2022 12/25/2021 Accounts receivable $ 96,804 $ 47,763 Franchisee accounts receivable 46,778 38,324 Notes receivable 2,211 1,681 Interest receivable — 54 Income tax receivable 28,325 32,448 Allowance for doubtful accounts (3,956) (1,572) Current receivables, net 170,162 118,698 Notes receivable, non-current 11,867 12,183 Allowance for doubtful accounts, non-current (132) (428) Non-current receivables, net 11,735 11,755 Total receivables $ 181,897 $ 130,453
Schedule of Activity in the Allowance for Doubtful Accounts	Activity in the allowance for doubtful accounts for the years ended December 31, 2022 and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Balance at beginning of year $ 2,000 $ 283 Provision for doubtful accounts 2,419 1,720 Write-offs, net of recoveries (331) (3) Balance at end of year $ 4,088 $ 2,000
Schedule of Aging of Accounts and Notes Receivable	Analysis of Past Due Receivables The breakdown of accounts and notes receivable past due at December 31, 2022 and December 25, 2021 was as follows: 12/31/2022 (In thousands) Past due Current Interest receivable Total receivables Accounts receivable $ 10,303 $ 133,279 $ — $ 143,582 Notes and interest receivable 133 13,945 — 14,078 Total accounts, notes, and interest receivable $ 10,436 $ 147,224 $ — $ 157,660 12/25/2021 (In thousands) Past due Current Interest receivable Total receivables Accounts receivable $ 7,966 $ 78,121 $ — $ 86,087 Notes and interest receivable 452 13,412 54 13,918 Total accounts, notes, and interest receivable $ 8,418 $ 91,533 $ 54 $ 100,005

Securitized Accounts Receivab_2

Securitized Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Debt Secure by Account Receivable	The components of securitized accounts receivable and debt secured by accounts receivables at December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Current securitized accounts receivable $ 374,179 $ 476,071 Unamortized purchase price discount (24,171) (106,504) Allowance for doubtful securitized accounts, current (57,095) — Current securitized accounts receivable, net 292,913 369,567 Non-current securitized accounts receivable 50,494 60,869 Unamortized purchase price discount (3,262) (13,617) Allowance for doubtful securitized accounts, non-current (7,705) — Non-current securitized accounts receivable, net 39,527 47,252 Total securitized assets, net $ 332,440 $ 416,819 Current installments of debt secured by accounts receivable $ 374,879 $ 421,935 Unamortized debt discount (34,858) (119,689) Current debt secured by accounts receivable, net 340,021 302,246 Non-current installments of debt secured by accounts receivable 119,240 111,671 Unamortized debt discount (11,792) (6,415) Non-current debt secured by accounts receivable, net 107,448 105,256 Total debt secured by accounts receivable, net $ 447,469 $ 407,502
Accounts Receivable, Allowance for Credit Loss	Activity in the allowance for doubtful accounts for the years ended December 31, 2022 and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Balance at beginning of year $ — $ — Provision for doubtful accounts 139,300 — Write-offs, net of recoveries (74,500) — Balance at end of year $ 64,800 $ —
Schedule of Interest Expense Debt Secured by Accounts Receivable	The components of interest income and interest expense generated from securitized receivables for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Interest income from securitization: Interest income 1 $ 101,172 $ 8,712 Interest income from amortization of original purchase discount $ 92,688 $ 16,796 Total interest income from securitization $ 193,860 $ 25,508 Interest expense, debt secured by accounts receivables: Amortization of debt discount from sale of securitized accounts receivable $ (103,207) $ (4,413) Interest expense $ (124,755) $ (3,089) Total interest expense, debt secured by accounts receivables: $ (227,962) $ (7,502) 1 Includes interest income from Badcock owned receivables (refer to “Note 4 – Accounts and Notes Receivable”) and securitized receivables.

Property, Equipment, and Softwa

Property, Equipment, and Software, Net - Table Text Blocks (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment at December 31, 2022, and December 25, 2021 was as follows: (In thousands) 12/31/2022 12/25/2021 Land and land improvements $ 998 $ 36,306 Buildings and building improvements 749 176,188 Leasehold improvements 123,728 115,539 Furniture, fixtures, and equipment 127,610 117,973 Software 114,852 97,427 Construction in progress 14,700 4,388 Finance lease asset 9,269 6,148 Property, plant, and equipment, gross 391,906 553,969 Less accumulated depreciation and amortization 168,188 104,083 Property, plant, and equipment, net $ 223,718 $ 449,886 Total depreciation and amortization expense on property, plant, and equipment was $64.8 million, $56.0 million, and $47.6 million for the years ended December 31, 2022, December 25, 2021, and December 26, 2020, respectively.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Table Text Blocks (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Balance as of December 26, 2020 $ 1,277 $ — $ — $ 367,882 $ 79,099 $ — $ 448,258 Acquisitions — 335,875 — 3,293 — 19,456 358,624 Disposals and purchase accounting adjustments — — — (346) — — (346) Balance as of December 25, 2021 $ 1,277 $ 335,875 $ — $ 370,829 $ 79,099 $ 19,456 $ 806,536 Acquisitions — 2,174 — — — — 2,174 Goodwill impairment — — — (70,000) — — (70,000) Disposals and purchase accounting adjustments — (1,258) — — — (50) (1,308) Balance as of December 31, 2022 $ 1,277 $ 336,791 $ — $ 300,829 $ 79,099 $ 19,406 $ 737,402
Schedule of FV of Identifiable Assets	Components of intangible assets as of December 31, 2022 and December 25, 2021, were as follows: (In thousands) 12/31/2022 Tradenames Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Gross carrying amount $ 12,000 $ 104,416 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,703 Accumulated Amortization — — — — — — — Net carrying amount $ 12,000 $ 104,416 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,703 12/31/2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Customer contracts Gross carrying amount — 34,300 — — 8,184 — 42,484 Accumulated Amortization — (4,143) — — (4,735) — (8,878) Net carrying amount — 30,157 — — 3,449 — 33,606 Franchise and dealer agreements Gross carrying amount — 67,240 — — 10,500 18,265 96,005 Accumulated Amortization — (8,057) — — (3,646) (2,645) (14,348) Net carrying amount — 59,183 — — 6,854 15,620 81,657 Other intangible assets Gross carrying amount — 110 — 44 566 1,593 2,313 Accumulated Amortization — — — (14) (460) (303) (777) Net carrying amount — 110 — 30 106 1,290 1,536 Total intangible assets $ — $ 89,450 $ — $ 30 $ 10,409 $ 16,910 $ 116,799 (In thousands) 12/25/2021 Tradenames Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Gross carrying amount $ 12,000 $ 104,400 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,687 Accumulated amortization — — — — — — — Net carrying amount $ 12,000 $ 104,400 $ — $ 70,200 $ 11,100 $ 24,987 $ 222,687 12/25/2021 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Total Customer contracts Gross carrying amount — 34,300 — — 8,114 — 42,414 Accumulated amortization — (1,856) — — (3,359) — (5,215) Net carrying amount — 32,444 — — 4,755 — 37,199 Franchise and dealer agreements Gross carrying amount — 67,100 — — 10,500 18,265 95,865 Accumulated amortization — (3,576) — — (2,596) (399) (6,571) Net carrying amount — 63,524 — — 7,904 17,866 89,294 Other intangible assets Gross carrying amount — — — 44 566 1,226 1,836 Accumulated amortization — — — (3) (319) (56) (378) Net carrying amount — — — 41 247 1,170 1,458 Total intangible assets $ — $ 95,968 $ — $ 41 $ 12,906 $ 19,036 $ 127,951
Schedule of Estimated Amortization Expense	Annual amortization expense for the next five years is estimated to be as follows: (In thousands) Estimate for Fiscal Year 2023 $ 10,833 2024 10,646 2025 9,975 2026 9,232 2027 9,043 Thereafter 67,070 Total estimated amortization expense $ 116,799

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract]
Disaggregation of Revenue	The following represents the disaggregated revenue by reportable segments for the years ended December 31, 2022, December 25, 2021, and December 26, 2020. Fiscal Year Ended 12/31/2022 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Consolidated Retail sales $ 1,204,168 $ 659,606 $ 628,170 $ 762,488 $ 2,737 $ 54 $ 3,257,223 Wholesale sales 1,298 559,651 — 14,119 — — 575,068 Total product revenue 1,205,466 1,219,257 628,170 776,607 2,737 54 3,832,291 Royalties and advertising fees 620 38,952 — 2,226 18,771 36,912 97,481 Financing revenue — — 1,289 36,955 — — 38,244 Warranty and damage revenue — — 52,437 41,516 6,098 — 100,051 Interest income from amortization of original purchase discount — — 92,688 — — — 92,688 Interest income — 305 101,172 771 — — 102,248 Other revenues 738 30,210 43,301 25,409 221 5,370 105,249 Total service and other revenue 1,358 69,467 290,887 106,877 25,090 42,282 535,961 Rental revenue, net — — — — 29,580 — 29,580 Total rental revenue — — — — 29,580 — 29,580 Total revenue $ 1,206,824 $ 1,288,724 $ 919,057 $ 883,484 $ 57,407 $ 42,336 $ 4,397,832 Fiscal Year Ended 12/25/2021 (In thousands) Vitamin Shoppe Pet Supplies Plus 1 Badcock 2 American Freight Buddy’s Sylvan 3 Consolidated Retail sales $ 1,172,462 $ 517,508 $ 67,353 $ 894,905 $ 3,913 $ 8 $ 2,656,149 Wholesale sales — 355,377 — 945 — — 356,322 Total product revenue 1,172,462 872,885 67,353 895,850 3,913 8 3,012,471 Royalties and advertising fees 263 20,161 — 1,287 14,474 8,306 44,491 Financing revenue — — — 41,623 — — 41,623 Warranty and damage revenue — — 5,389 34,786 6,667 — 46,842 Interest income from amortization of original purchase discount — — 16,796 — — — 16,796 Interest income — 228 8,712 986 — — 9,926 Other revenues — 24,165 3,807 14,360 5,725 1,368 49,425 Total service and other revenue 263 44,554 34,704 93,042 26,866 9,674 209,103 Rental revenue, net — — — — 33,630 — 33,630 Total rental revenue — — — — 33,630 — 33,630 Total revenue $ 1,172,725 $ 917,439 $ 102,057 $ 988,892 $ 64,409 $ 9,682 $ 3,255,204 1 Reflects the results from the March 10, 2021 acquisition date for the Pet Supplies Plus Acquisition. 2 Reflects the results from the November 22, 2021 acquisition date for the Badcock Acquisition. 3 Reflects the results from the September 27, 2021 acquisition date for the Sylvan Acquisition. Fiscal Year Ended 12/26/2020 (In thousands) Vitamin Shoppe Pet Supplies Plus Badcock American Freight Buddy’s Sylvan Consolidated Retail sales $ 1,035,964 $ — $ — $ 857,955 $ 5,743 $ — $ 1,899,662 Total product revenue 1,035,964 — — 857,955 5,743 — 1,899,662 Royalties and advertising fees — — — — 10,092 — 10,092 Financing revenue — — — 15,977 — — 15,977 Warranty and damage revenue — — — 16,799 12,668 — 29,467 Interest income — — — 1,288 — — 1,288 Other revenues — — — 4,412 4,562 — 8,974 Total service and other revenue — — — 38,476 27,322 — 65,798 Rental revenue, net — — — — 64,267 — 64,267 Total rental revenue — — — — 64,267 — 64,267 Total revenue $ 1,035,964 $ — $ — $ 896,431 $ 97,332 $ — $ 2,029,727
Schedule of Contract with Customer, Asset and Liability	The following table provides information about receivables and contract liabilities (deferred revenue) from contracts with customers as of December 31, 2022 and December 25, 2021: (In thousands) 12/31/2022 12/25/2021 Accounts receivable $ 143,582 $ 86,087 Notes receivable 14,078 13,864 Customer deposits $ 20,816 $ 37,626 Gift cards and loyalty programs 9,565 7,604 Deferred franchise fee revenue 22,175 16,984 Other deferred revenue 10,688 8,400 Total deferred revenue $ 63,244 $ 70,614

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Operating Lease Cost	Refer to “Leases” under “Note 1 - Organization and Significant Accounting Policies” for a discussion of our accounting policies. The finance lease right of use assets and lease liabilities are included in PP&E, current installments of long-term debt and long-term debt respectively. These leases are immaterial to the Condensed Consolidated Financial Statements. Company as Lessee The components of lease costs for leases that were recognized in the accompanying Consolidated Statements of Operations for the years ended December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Operating lease cost $ 244,565 $ 212,837 Short-term operating lease costs 2,186 2,261 Variable operating lease costs 41,467 35,367 Sublease income (8,857) (1,753) Total operating lease cost 279,361 248,712
Schedule of Lessee, Operating Lease, Liability, Maturity	As of December 31, 2022, maturities of lease liabilities were as follows: Fiscal Year Operating leases 2023 $ 227,700 2024 197,095 2025 154,809 2026 123,037 2027 91,038 Thereafter 258,120 Total undiscounted lease payments 1,051,799 Less interest 151,806 Present value of lease liabilities $ 899,993
Schedule of Leases, Cash Flow Information	The following represents other information pertaining to the Company’s lease arrangements for the years ended December 31, 2022 and December 25, 2021: Operating (In thousands) December 31, 2022 December 25, 2021 Right-of-use assets obtained in exchange for lease obligations (1) $ 155,857 $ 153,538 Cash paid for amounts included in the measurement of lease liabilities 215,528 191,827 Weighted average remaining lease terms (years) 7.05 4.9 Weighted average discount rates 8.31 % 9.03 %
Schedule of Non-cancelable Subleases Maturity Analysis	The following table illustrates the Company’s maturity analysis of lease payments to be received for non-cancelable subleases as of December 31, 2022: Operating Leases Fiscal Year (in thousands) Subleases 2023 $ 7,068 2024 5,241 2025 4,141 2026 3,076 2027 1,606 Thereafter 537 Total future minimum receipts $ 21,669

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Long-term obligations as of December 31, 2022 and December 25, 2021 were as follows: (In thousands) 12/31/2022 12/25/2021 Term loans, net of debt issuance costs First lien term loan, due March 10, 2026 $ 779,777 $ 790,057 Second lien term loan, due September 10, 2026 289,435 287,188 Badcock first lien term loan, due November 22, 2023 — 201,530 Badcock second lien term loan, due November 22, 2023 — 146,616 Total term loans, net of debt issuance costs 1,069,212 1,425,391 ABL Revolver 295,000 20,000 Other long-term obligations 6,147 10,537 Finance lease liabilities 11,055 6,465 Total long-term obligations 1,381,414 1,462,393 Less current installments 6,935 183,924 Total long-term obligations, excluding current installments $ 1,374,479 $ 1,278,469
Schedule of Maturities of Long-term Debt	Aggregate maturities of long-term debt at December 31, 2022 were as follows: (In thousands) Estimate for fiscal year 2023 $ 7,327 2024 4,605 2025 297,939 2026 1,071,210 2027 1,255 Thereafter — Total $ 1,382,336

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The computation of basic and diluted net income per share for the years ended December 31, 2022, December 25, 2021, and December 26, 2020 is as follows: 12/31/2022 12/25/2021 12/26/2020 (In thousands, except for share and per share amounts) Common stock Common stock Common stock Net income (loss) from continuing operations attributable to Franchise Group $ (68,573) $ 191,966 $ 20,645 Less: Preferred dividend declared 8,514 8,514 755 Adjusted net income (loss) from continuing operations attributable to Franchise Group available to Common Stockholders (77,087) 183,452 19,890 Net income (loss) from discontinued operations attributable to Franchise Group — 171,822 4,419 Adjusted net income (loss) available to Common Stockholders $ (77,087) $ 355,274 $ 24,309 Weighted-average common shares outstanding 39,309,855 40,199,681 34,531,362 Net dilutive effect of stock options and restricted stock — 764,501 440,573 Weighted-average dilutive shares outstanding 39,309,855 40,964,182 34,971,935 Basic net income (loss) per share: Continuing operations $ (1.96) $ 4.56 $ 0.57 Discontinued operations — 4.27 0.13 Basic net income (loss) per share $ (1.96) $ 8.83 $ 0.70 Diluted net income (loss) per share: Continuing operations $ (1.96) $ 4.48 $ 0.57 Discontinued operations — 4.19 0.13 Diluted net income (loss) per share $ (1.96) $ 8.67 $ 0.70

Stock Compensation Plan (Tables

Stock Compensation Plan (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following table summarizes the status of service-based RSU activity during the years ended December 31, 2022, December 25, 2021, and December 26, 2020: Number of RSUs Weighted-Average Fair Value at Grant Date Balance at December 28, 2019 205,206 $ 13.11 Granted 192,809 24.83 Vested (85,911) 12.67 Forfeited (15,957) 19.69 Balance at December 26, 2020 296,147 $ 20.51 Granted 124,350 35.95 Vested (148,447) 20.11 Forfeited (2,342) 12.22 Balance at December 25, 2021 269,708 $ 27.92 Granted 118,359 42.15 Vested (114,765) 29.26 Forfeited — — Balance at December 31, 2022 273,302 $ 36.39 The following table summarizes the status of PRSU activity during the years ended December 31, 2022, December 25, 2021, and December 26, 2020: Number of PRSUs Weighted-Average Fair Value at Grant Date Balance at December 28, 2019 465,833 $ 14.40 Granted 154,904 24.84 Vested — — Forfeited (2,000) 14.40 Balance at December 26, 2020 618,737 $ 17.00 Granted 107,023 35.66 Vested (19,500) 14.40 Forfeited — — Balance at December 25, 2021 706,260 $ 19.90 Granted 102,930 42.25 Adjusted for performance results achieved (1) 222,166 14.38 Vested (666,499) 14.38 Forfeited — — Balance at December 31, 2022 364,857 $ 32.92 (1) Represents an adjustment for performance results achieved related to outstanding 2019 PRSU shares that vested and were issued in November 2022 at 150% achievement. The following table summarizes the status of MPRSU activity during the years ended December 31, 2022 and December 25, 2021: Number of MPRSUs Weighted-Average Fair Value at Grant Date Balance at December 26, 2020 — $ — Granted 826,926 20.13 Vested — — Forfeited — — Balance at December 25, 2021 826,926 $ 20.13 Granted 70,000 39.67 Vested — — Forfeited (56,000) 20.26 Balance at December 31, 2022 840,926 $ 21.77
Schedule of Share-Based Payment Arrangement, Option, Exercise Price Range	The following table summarizes information about stock options outstanding and exercisable at December 31, 2022. Options outstanding and exercisable Range of Exercise Prices Number of options outstanding and exercisable Weighted-average exercise price Weighted-average remaining contractual life (in years) 0.00 - 10.89 200,000 $ 8.81 0.9 10.90 - 12.01 54,564 11.97 0.9 254,564 $ 9.49

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Components of income tax expense for the fiscal years ended December 31, 2022, December 25, 2021, and December 26, 2020 were as follows: (In thousands) 12/31/2022 12/25/2021 12/26/2020 Current: Federal $ 52,046 $ — $ (62,897) State 12,238 1,362 615 Current tax expense 64,284 1,362 (62,282) Deferred: Federal (61,372) (37,816) 3,931 State (11,757) 2,916 (2,150) Deferred tax expense (benefit) (73,129) (34,900) 1,781 Total income tax expense (benefit) $ (8,845) $ (33,538) $ (60,501)
Schedule of Income before Income Tax, Domestic and Foreign	For the years ended December 31, 2022, December 25, 2021, and December 26, 2020, income before taxes consisted of the following: (In thousands) 12/31/2022 12/25/2021 12/26/2020 Income (loss) before income taxes $ (77,418) $ 158,428 $ (49,557)
Schedule of Effective Income Tax Rate Reconciliation	Income tax benefit differed from the amounts computed by applying the U.S. federal income tax rate of 21% to pre-tax income from continuing operations as a result of the following for years ended December 31, 2022 and December 25, 2021 are as follows: (In thousands) 12/31/2022 12/25/2021 Computed “expected” income tax benefit $ (16,258) $ 33,270 Increase (decrease) in income taxes resulting from: State income taxes, net of federal benefit (2,788) 5,304 Bargain purchase gain (738) (27,729) 162(m) limitation 2,555 2,019 Nondeductible expenses 127 197 Stock compensation expense (349) (900) Transaction costs (179) 858 Subpart F Income 43 — Impairment of goodwill 14,700 — Return to provision 2,385 — Change in uncertain tax position (1,768) (66) Decrease in valuation allowance (6,796) (45,180) Tax rate change 1,049 (1,311) Other (828) — Total income tax expense (benefit) $ (8,845) $ (33,538)
Schedule of Deferred Tax Assets and Liabilities	The tax effect of temporary differences between the financial statement carrying amounts and tax basis of assets and liabilities that give rise to significant portions of deferred tax assets and liabilities as of December 31, 2022 and December 25, 2021 are as follows: (In thousands) 12/31/2022 12/25/2021 Deferred tax assets: Federal and state net operating loss carryforward $ 11,068 $ 16,865 Section 743 adjustment 36,006 38,604 Interest expense carryforward 1,098 1,485 State bonus depreciation 4,587 5,069 Equity compensation 6,488 3,806 Inventory 9,349 4,528 Deferred revenue 6,807 4,176 Accrued expenses and reserves 4,932 9,976 Allowances 19,446 795 Lease liability (ASC 842) 235,743 185,064 Other 21,238 3,463 Total deferred tax assets (before valuation allowance) 356,762 273,831 Valuation allowance (1,417) (8,213) Total deferred tax assets (after valuation allowance) 355,345 265,618 Deferred tax liabilities Property, plant, and equipment (U.S.) (31,165) (78,895) Goodwill, intangible assets, and assets held for sale (U.S.) (48,142) (33,786) Right-of-use assets (ASC 842) (230,501) (181,227) Prepaid expenses (7,010) (4,968) Total deferred tax liabilities (316,818) (298,876) Net deferred tax asset (liability) $ 38,527 $ (33,258)
Schedule of Uncertain Tax Positions Liability	A reconciliation of the beginning and ending balance of the gross liability for uncertain tax positions for the fiscal years ended December 31, 2022 and December 25, 2021, is as follows: (In thousands) 12/31/2022 12/25/2021 Liability for uncertain tax positions, beginning of year $ 4,957 $ 357 Decreases related to prior year positions (1,938) (219) Increases related to prior year positions 170 4,819 Liability for uncertain tax positions, end of year $ 3,189 $ 4,957

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Total revenues by segment are as follows: Year Ended (In thousands) 12/31/2022 12/25/2021 12/26/2020 Total revenue: Vitamin Shoppe $ 1,206,824 $ 1,172,725 $ 1,035,964 Pet Supplies Plus 1,288,724 917,439 — Badcock 919,057 102,057 — American Freight 883,484 988,892 896,431 Buddy’s 57,407 64,409 97,332 Sylvan 42,336 9,682 — Consolidated total revenue $ 4,397,832 $ 3,255,204 $ 2,029,727 Operating income (loss) by segment are as follows: Year Ended (In thousands) 12/31/2022 12/25/2021 12/26/2020 Operating income (loss): Vitamin Shoppe $ 106,789 $ 104,004 $ 5,371 Pet Supplies Plus 81,228 41,654 — Badcock 129,104 22,674 — American Freight (79,524) 66,541 40,348 Buddy’s 12,520 16,685 20,364 Sylvan 5,328 (712) — Corporate (34,238) $ (24,495) (13,572) Operating income (loss): $ 221,207 $ 226,351 $ 52,511 (In thousands) 12/31/2022 12/25/2021 Total assets: Vitamin Shoppe $ 625,543 $ 596,964 Pet Supplies Plus 977,234 957,849 Badcock 789,727 1,062,310 American Freight 904,378 959,282 Buddy’s 135,192 146,033 Sylvan 90,361 103,850 Corporate 107,977 86,883 Consolidated total assets $ 3,630,412 $ 3,913,171

Organization and Significant _3

Organization and Significant Accounting Policies - Narratives (Details) - USD ($) $ in Millions					12 Months Ended
	Feb. 22, 2022	Nov. 24, 2021	Sep. 27, 2021	Mar. 10, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Property, Plant and Equipment [Line Items]
Advertising Expense					$ 98.1	$ 74.1	$ 52.8
Labor and Related Expense					606.7	494.9	$ 376.5
Accrued Employee Benefits					$ 38.7	$ 63.4
Minimum
Property, Plant and Equipment [Line Items]
Average Rental Term					12 months
Minimum | Accounting Standards Update 2016-13
Property, Plant and Equipment [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects					11.0
Maximum
Property, Plant and Equipment [Line Items]
Average Rental Term					18 months
Maximum | Accounting Standards Update 2016-13
Property, Plant and Equipment [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Indirect Effects					16.0
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					7 years
Building | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					20 years
Building | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					30 years
Building Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					39 years
Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					7 years
Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					15 years
Furniture and Fixtures | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					5 years
Furniture and Fixtures | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					10 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					7 years
Computer Equipment [Member] | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					3 years
Computer Equipment [Member] | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					5 years
Software | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					2 years
Software | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life					5 years
Pet Supplies Plus
Property, Plant and Equipment [Line Items]
Business Combination, Consideration Transferred	$ 0.6			$ 451.3
Sylvan
Property, Plant and Equipment [Line Items]
Business Combination, Consideration Transferred			$ 82.9
Badcock
Property, Plant and Equipment [Line Items]
Business Combination, Consideration Transferred		$ 548.8

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)					12 Months Ended
	Feb. 22, 2022	Nov. 24, 2021	Sep. 27, 2021	Mar. 10, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 27, 2020
Business Acquisition [Line Items]
Bargain purchase gain					$ 3,514,000	$ 132,559,000	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 548,785,000	$ 82,877,000		451,356,000
Capitalized Computer Software, Gross			25,300,000
Finance Lease, Right-of-Use Asset, before Accumulated Amortization				$ 1,700,000
Fair Value Adjustment to Inventory
Business Acquisition [Line Items]
Inventory, Noncurrent, Fair Value Disclosure					7,100,000
Acquisition-related Costs
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs					11,300,000
Badcock
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		548,800,000
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired		55,626,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent		51,700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		238,865,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		866,746,000
Goodwill, Purchase Accounting Adjustments					3,500,000
Badcock | Furniture and Fixtures
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		93,000,000
Badcock | Buildings and building improvements
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings		98,000,000
Badcock | Land and Land Improvements [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land		33,400,000
Badcock | Leaseholds and Leasehold Improvements
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		23,700,000
Badcock | Construction in Progress [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		$ 1,400,000
Sylvan
Business Acquisition [Line Items]
Business Combination, Consideration Transferred			82,900,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent			1,984,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			26,324,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets			101,144,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			82,900,000
Noncash or Part Noncash Acquisition, Investments Acquired			19,412,000
Fixtures and Equipment, Gross			300,000
Leasehold Improvements, Gross			700,000
Sylvan | Franchise Agreements [Member]
Business Acquisition [Line Items]
Noncash or Part Noncash Acquisition, Investments Acquired			18,300,000
Sylvan | Proprietary Content
Business Acquisition [Line Items]
Noncash or Part Noncash Acquisition, Investments Acquired			$ 1,100,000
Pet Supplies Plus
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 600,000			451,300,000
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired					151,243,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent					114,292,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					75,616,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					935,622,000
Noncash or Part Noncash Acquisition, Investments Acquired					$ 101,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				104,400,000
Adjustment, Lease Right of Use				12,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Restricted Cash				400,000
Payments to Acquire Businesses, Gross	$ 900,000
Pet Supplies Plus | Franchise Rights [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				67,100,000
Pet Supplies Plus | Customer Relationships
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				34,300,000
Pet Supplies Plus | Construction in Progress [Member]
Business Acquisition [Line Items]
Machinery and Equipment, Gross				3,500,000
Pet Supplies Plus | Furniture, Fixtures, And Equipment [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				37,000,000
Pet Supplies Plus | Leasehold Improvements [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				$ 33,500,000
FFO
Business Acquisition [Line Items]
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired								$ 26,571,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent								22,624,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								3,280,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets								39,350,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net								13,840,000
Adjustment, Lease Right of Use								1,400,000
FFO | Furniture, Fixtures, And Equipment [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								800,000
FFO | Leasehold Improvements [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								$ 2,500,000

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)		12 Months Ended
	Sep. 27, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Nov. 24, 2021	Mar. 10, 2021
Business Acquisition [Line Items]
Business Combination, Bargain Purchase, Gain Recognized, Amount		$ (3,514,000)	$ (132,559,000)	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 82,877,000	451,356,000			$ 548,785,000
Goodwill		737,402,000	806,536,000	448,258,000
Operating lease right-of-use assets		890,949,000	714,741,000
Operating Lease, Liability, Current		179,519,000	173,101,000
Badcock
Business Acquisition [Line Items]
Business Combination, Bargain Purchase, Gain Recognized, Amount		(135,557,000)
Goodwill		0	$ 0	$ 0
Badcock
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents					23,413,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					130,045,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables					411,268,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other					5,023,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					238,865,000
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired					55,626,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets					2,506,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					866,746,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable					71,436,000
Business Combination, Accrued Expense					18,942,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt					5,261,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt					7,247,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent					51,700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other					27,849,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					182,404,000
Badcock | Current lease liability
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current					12,070,000
Badcock | Non-current lease liability
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent					$ 39,599,000
Sylvan
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	4,364,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	3,592,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	26,324,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	185,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	101,144,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	6,072,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent	1,984,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	9,320,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	18,267,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	82,900,000
Goodwill	19,406,000
Intangible Assets, Current	24,987,000
Operating lease right-of-use assets	2,874,000
Noncash or Part Noncash Acquisition, Investments Acquired	19,412,000
Operating Lease, Liability, Current	$ 891,000
Pet Supplies Plus
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		2,131,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		118,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		39,844,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		75,616,000
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired		151,243,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		6,393,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		935,622,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current		25,405,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		82,237,000
Business Combination, Accrued Expense		1,606,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt		3,507,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt		247,458,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent		114,292,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other		9,761,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		484,266,000
Goodwill		335,995,000
Noncash or Part Noncash Acquisition, Investments Acquired		$ 101,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill						$ 104,400,000

Acquisitions - Schedule of Busi

Acquisitions - Schedule of Business Acquisitions, by Acquisition (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021	Nov. 24, 2021	Sep. 27, 2021	Dec. 27, 2020	Dec. 26, 2020
Business Acquisition [Line Items]
Goodwill	$ 737,402,000	$ 806,536,000				$ 448,258,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 451,356,000		$ 548,785,000	$ 82,877,000
FFO
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents					$ 6,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other					96,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					6,450,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					3,280,000
Goodwill					2,947,000
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired					26,571,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets					39,350,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Current					2,587,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other					299,000
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Liability, Noncurrent					22,624,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					25,510,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 13,840,000

Acquisitions - Business Acquisi

Acquisitions - Business Acquisition, Pro Forma Information, Nonrecurring Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020
Business Combination and Asset Acquisition [Abstract]
Business Combination, Separately Recognized Transactions, Revenues and Gains Recognized	$ 4,282,329	$ 3,849,583
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	$ 184,574	$ 92,954
Basic Earnings Per Share, Pro Forma	$ 4.59	$ 2.69
Diluted Earnings Per Share Pro Forma	$ 4.51	$ 2.66

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Jul. 02, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 0	$ 179,471	$ 0
Assets Held-for-sale, Not Part of Disposal Group, Other	8,500
Sale Leaseback Transaction, Gross Proceeds	260,600
Sale and Leaseback Transaction, Gain (Loss), Net	59,772	$ 0	$ 0
Sale and Leaseback Transaction, Gains	65,300
Sale and Leaseback Transaction, Loss	5,500
Discontinued Operations, Held-for-sale | Liberty Tax Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	255,300
Cash Provided by (Used in) Investing Activities, Discontinued Operations	$ 181,200
Disposal Group, Including Discontinued Operation, Consideration, Number Of Proportional Voting Shares, Shares				74.1

Divestitures - Schedule of Inco

Divestitures - Schedule of Income (Loss) from Discontinued Operation, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ 0	$ 171,822	$ 16,210
Net income (loss) from discontinued operations	$ 0	171,822	4,419
Discontinued Operations, Held-for-sale | Liberty Tax [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue		107,486	122,777
Disposal Group, Including Discontinued Operation, General and Administrative Expense		66,042	99,166
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		41,444	23,611
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax		188,091	0
Disposal Group, Including Discontinued Operation, Other Expense		165	107
Disposal Group, Including Discontinued Operation, Interest Expense		(3)	(4,977)
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax		229,697	18,741
Discontinued Operation, Tax Effect of Discontinued Operation		57,875	2,531
Income (loss) from discontinued operations, net of tax		171,822	16,210
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest		0	(11,791)
Net income (loss) from discontinued operations		$ 171,822	$ 4,419

Divestitures - Schedule of Disc

Divestitures - Schedule of Discontinued Operation Statement of Cash Flow (Details) - Discontinued Operations, Held-for-sale - Liberty Tax [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2021	Dec. 26, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash Provided by (Used in) Operating Activities, Discontinued Operations	$ 39,334	$ 52,185
Cash Provided by (Used in) Investing Activities, Discontinued Operations	$ 173,633	$ 6,259

Accounts and Notes Receivable -

Accounts and Notes Receivable - Schedule of Activity Related to Notes Receivable (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Other Receivables, Net, Current	$ 96,804,000	$ 47,763,000
Notes Receivable, Related Parties, Current	2,211,000	1,681,000
interest receivable, current, net	0	54,000
Income Taxes Receivable, Current	28,325,000	32,448,000
Allowance for Credit Loss, Receivable, Other, Current	(3,956,000)	(1,572,000)
Current receivables, net	170,162,000	118,698,000
Notes Receivable, Related Parties, Noncurrent	11,867,000	12,183,000
Allowance for Doubtful Accounts, non-current	(132,000)	(428,000)
Receivables, net, non-current	11,735,000	11,755,000
Receivables, Fair Value Disclosure	181,897,000	130,453,000
Receivables from franchisees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts and Other Receivables, Net, Current	$ 46,778,000	$ 38,324,000

Accounts and Notes Receivable_2

Accounts and Notes Receivable - Schedule of Activity in the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Receivables [Abstract]
Allowance for doubtful accounts receivable, beginning of period	$ 2,000	$ 283
Provision for doubtful accounts	2,419	1,720
Write-offs	(331)	(3)
Allowance for doubtful accounts receivable, end of period	$ 4,088	$ 2,000

Accounts and Notes Receivable_3

Accounts and Notes Receivable - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Allocation of allowance for doubtful accounts
Accounts Receivable, Allowance for Credit Loss	$ 4,088	$ 2,000	$ 283
Accounts receivable
Allocation of allowance for doubtful accounts
Gross amount due	14,078	13,918
Notes and interest receivable, net of unrecognized revenue
Allocation of allowance for doubtful accounts
Gross amount due	$ 143,582	$ 86,087

Accounts and Notes Receivable_4

Accounts and Notes Receivable - Schedule of Aging of Accounts and Notes Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Aging of accounts and notes receivable
Accounts and Other Receivables, Net, Current	$ 96,804	$ 47,763
Notes and interest receivable, net of unrecognized revenue
Aging of accounts and notes receivable
Accounts Receivable, Noncurrent, 90 Days or More Past Due, Still Accruing	10,303	7,966
Accounts and Other Receivables, Net, Current	133,279	78,121
Financing Receivable Allowance for Uncollected Interest	0	0
Accounts and Notes Receivable Gross	143,582	86,087
Accounts receivable
Aging of accounts and notes receivable
Accounts and Other Receivables, Net, Current	13,945	13,412
Financing Receivable Allowance for Uncollected Interest	0	54
Accounts and Notes Receivable Gross	14,078	13,918
Financing Receivable, 90 Days or More Past Due, Still Accruing	133	452
Accounts, Notes, and Interest Receivable
Aging of accounts and notes receivable
Accounts and Other Receivables, Net, Current	147,224	91,533
Financing Receivable Allowance for Uncollected Interest	0	54
Accounts and Notes Receivable Gross	157,660	100,005
Financing Receivable, 90 Days or More Past Due, Still Accruing	$ 10,436	$ 8,418

Securitized Accounts Receivab_3

Securitized Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 20, 2021	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization		$ 10,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		5 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-12-26
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period
Asset Pledged as Collateral with Right
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other Significant Noncash Transaction, Consideration Received	400.0 million	382.1

Securitized Accounts Receivab_4

Securitized Accounts Receivable - Schedule of Debt Secure by Account Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable - current	$ 374,179	$ 476,071
Financing Receivable, Allowance for Credit Loss, Current	(57,095)	0
Financing Receivable, after Allowance for Credit Loss, Current	292,913	369,567
Financing Receivable, Allowance for Credit Loss	(7,705)	0
Financing Receivable, after Allowance for Credit Loss, Noncurrent	39,527	47,252
Financing Receivable, after Allowance for Credit Loss	332,440	416,819
Secured Debt, Current	340,021	302,246
Secured Long-term Debt, Noncurrent	107,448	105,256
Secured Debt	447,469	407,502
Long-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	119,240	111,671
Short-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of Debt Discount (Premium)	(34,858)	(119,689)
Long-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization of Debt Discount (Premium)	(11,792)	(6,415)
Short-term Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	374,879	421,935
Other Current Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Unamortized Purchase Premium (Discount)	(24,171)	(106,504)
Asset-backed Securities, Securitized Loans and Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, before Allowance for Credit Loss, Noncurrent	50,494	60,869
Other Noncurrent Assets
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Unamortized Purchase Premium (Discount)	$ (3,262)	$ (13,617)

Securitized Accounts Receivab_5

Securitized Accounts Receivable - Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss, Current	$ 64,800	$ 0	$ 0
Provision for doubtful accounts	2,419	1,720
Write-offs	(331)	(3)
Asset-backed Securities, Securitized Loans and Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for doubtful accounts	139,300	0
Write-offs	$ (74,500)	$ 0

Securitized Accounts Receivab_6

Securitized Accounts Receivable - Schedule of Interest Expense Debt Secured by Accounts Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income	$ 101,172,000	$ 8,712,000
Interest income from amortization of original purchase discount	92,688,000	16,796,000
interest income, financing receivable	193,860,000	25,508,000
Amortization of debt discount from sale of securitized accounts receivable	(103,207,000)	(4,413,000)
Interest Expense	(339,982,000)	(133,114,000)	$ (96,774,000)
Secured Debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Expense	(124,755,000)	(3,089,000)
Interest Revenue (Expense), Net	$ (227,962,000)	$ (7,502,000)

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, Net - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Mar. 10, 2021
Property, Plant and Equipment [Line Items]
Finance Lease, Right-of-Use Asset, before Accumulated Amortization				$ 1,700
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization	$ 391,906	$ 553,969
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization	168,188	104,083
Property, equipment, and software, net	223,718	449,886
Total depreciation expense	64,800	56,000	$ 47,600
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	998	36,306
Buildings and building improvements
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	749	176,188
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	123,728	115,539
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	127,610	117,973
Software
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	114,852	97,427
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, equipment, and software, gross	14,700	4,388
Capital Lease Obligations [Member]
Property, Plant and Equipment [Line Items]
Finance Lease, Right-of-Use Asset, before Accumulated Amortization	$ 9,269	$ 6,148

Property, Equipment, and Soft_2

Property, Equipment, and Software, Net - Narratives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Property, Plant and Equipment [Abstract]
Total depreciation expense	$ 64.8	$ 56	$ 47.6

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narratives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill, Impairment Loss	$ 70,000	$ 0	$ 0
Amortization of Intangible Assets	$ 11,800	$ 8,700	$ 4,600

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 806,536,000	$ 448,258,000
Acquisitions of assets from franchisees	2,174,000	358,624,000
Goodwill, Impairment Loss	(70,000,000)	0	$ 0
Goodwill, Period Increase (Decrease)	(1,308,000)	(346,000)
Goodwill, Ending Balance	737,402,000	806,536,000	448,258,000
Total estimated amortization expense	116,799,000	127,951,000
Intangible assets, net	116,799,000	127,951,000
Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	222,703,000	222,687,000
Total estimated amortization expense	222,703,000	222,687,000
Customer Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	42,484,000	42,414,000
Finite-Lived Intangible Assets, Accumulated Amortization	(8,878,000)	(5,215,000)
Total estimated amortization expense	33,606,000	37,199,000
Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	96,005,000	95,865,000
Finite-Lived Intangible Assets, Accumulated Amortization	(14,348,000)	(6,571,000)
Total estimated amortization expense	81,657,000	89,294,000
Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	2,313,000	1,836,000
Finite-Lived Intangible Assets, Accumulated Amortization	(777,000)	(378,000)
Total estimated amortization expense	1,536,000	1,458,000
Pet Supplies Plus
Goodwill [Roll Forward]
Goodwill, Acquired in Acquisition		335,875,000
Acquisitions of assets from franchisees	2,174,000
Goodwill, Period Increase (Decrease)	(1,258,000)
Goodwill, Ending Balance	335,995,000
Badcock
Goodwill [Roll Forward]
Acquisitions of assets from franchisees	0	0
Goodwill, Period Increase (Decrease)	0	0
American Freight
Goodwill [Roll Forward]
Goodwill, Acquired in Acquisition	0	3,293,000
Goodwill, Impairment Loss	(70,000,000)
Goodwill, Period Increase (Decrease)	0	(346,000)
Buddy's [Member]
Goodwill [Roll Forward]
Goodwill, Acquired in Acquisition	0	0
Goodwill, Impairment Loss	0
Goodwill, Period Increase (Decrease)	0	0
Sylvan
Goodwill [Roll Forward]
Acquisitions of assets from franchisees	0	19,456,000
Goodwill, Period Increase (Decrease)	(50,000)	0
Vitamin Shoppe [Member]
Goodwill [Roll Forward]
Acquisitions of assets from franchisees	0
Goodwill, Period Increase (Decrease)	0	0
Vitamin Shoppe [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	1,277,000	1,277,000
Goodwill, Ending Balance	1,277,000	1,277,000	1,277,000
Intangible assets, net	0	0
Vitamin Shoppe [Member] | Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	12,000,000	12,000,000
Total estimated amortization expense	12,000,000	12,000,000
Vitamin Shoppe [Member] | Customer Contracts [Member]
Goodwill [Roll Forward]
Total estimated amortization expense	0	0
Vitamin Shoppe [Member] | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	0	0
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Total estimated amortization expense	0	0
Vitamin Shoppe [Member] | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	0	0
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Total estimated amortization expense	0	0
Badcock
Goodwill [Roll Forward]
Goodwill, Beginning Balance	0	0
Goodwill, Ending Balance	0	0	0
Intangible assets, net	0
Badcock | Tradename [Member]
Goodwill [Roll Forward]
Total estimated amortization expense	0
Badcock | Customer Contracts [Member]
Goodwill [Roll Forward]
Total estimated amortization expense	0
Badcock | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	0
Finite-Lived Intangible Assets, Accumulated Amortization	0
Total estimated amortization expense	0
Badcock | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	0
Finite-Lived Intangible Assets, Accumulated Amortization	0
Total estimated amortization expense	0
American Freight
Goodwill [Roll Forward]
Goodwill, Beginning Balance	370,829,000	367,882,000
Goodwill, Ending Balance	300,829,000	370,829,000	367,882,000
Intangible assets, net	30,000	41,000
American Freight | Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	70,200,000	70,200,000
Total estimated amortization expense	70,200,000	70,200,000
American Freight | Customer Contracts [Member]
Goodwill [Roll Forward]
Total estimated amortization expense	0	0
American Freight | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	0	0
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Total estimated amortization expense	0	0
American Freight | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	44,000	44,000
Finite-Lived Intangible Assets, Accumulated Amortization	(14,000)	(3,000)
Total estimated amortization expense	30,000	41,000
Buddy's [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	79,099,000	79,099,000
Goodwill, Ending Balance	79,099,000	79,099,000	79,099,000
Intangible assets, net	10,409,000	12,906,000
Buddy's [Member] | Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	11,100,000	11,100,000
Total estimated amortization expense	11,100,000	11,100,000
Buddy's [Member] | Customer Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	8,184,000	8,114,000
Finite-Lived Intangible Assets, Accumulated Amortization	(4,735,000)	(3,359,000)
Total estimated amortization expense	3,449,000	4,755,000
Buddy's [Member] | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	10,500,000	10,500,000
Finite-Lived Intangible Assets, Accumulated Amortization	(3,646,000)	(2,596,000)
Total estimated amortization expense	6,854,000	7,904,000
Buddy's [Member] | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	566,000	566,000
Finite-Lived Intangible Assets, Accumulated Amortization	(460,000)	(319,000)
Total estimated amortization expense	106,000	247,000
Sylvan
Goodwill [Roll Forward]
Goodwill, Beginning Balance	19,456,000	0
Goodwill, Ending Balance	19,406,000	19,456,000	$ 0
Intangible assets, net	16,910,000	19,036,000
Sylvan | Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	24,987,000	24,987,000
Total estimated amortization expense	24,987,000	24,987,000
Sylvan | Customer Contracts [Member]
Goodwill [Roll Forward]
Total estimated amortization expense	0	0
Sylvan | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	18,265,000	18,265,000
Finite-Lived Intangible Assets, Accumulated Amortization	(2,645,000)	(399,000)
Total estimated amortization expense	15,620,000	17,866,000
Sylvan | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	1,593,000	1,226,000
Finite-Lived Intangible Assets, Accumulated Amortization	(303,000)	(56,000)
Total estimated amortization expense	1,290,000	1,170,000
Pet Supplies Plus
Goodwill [Roll Forward]
Goodwill, Beginning Balance	335,875,000
Goodwill, Ending Balance	336,791,000	335,875,000
Intangible assets, net	89,450,000	95,968,000
Pet Supplies Plus | Tradename [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	104,416,000	104,400,000
Total estimated amortization expense	104,416,000	104,400,000
Pet Supplies Plus | Customer Contracts [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	34,300,000	34,300,000
Finite-Lived Intangible Assets, Accumulated Amortization	(4,143,000)	(1,856,000)
Total estimated amortization expense	30,157,000	32,444,000
Pet Supplies Plus | Noncompete Agreements [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	67,240,000	67,100,000
Finite-Lived Intangible Assets, Accumulated Amortization	(8,057,000)	(3,576,000)
Total estimated amortization expense	59,183,000	63,524,000
Pet Supplies Plus | Reacquired Rights [Member]
Goodwill [Roll Forward]
Finite-Lived Intangible Assets, Gross	110,000	0
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Total estimated amortization expense	$ 110,000	$ 0

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
2023	$ 10,833
2024	10,646
2025	9,975
2026	9,232
2027	9,043
Thereafter	67,070
Total estimated amortization expense	$ 116,799	$ 127,951

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 4,397,832,000	$ 3,255,204,000	$ 2,029,727,000
Interest income from amortization of original purchase discount	92,688,000	16,796,000
Lease Income	29,580,000	33,630,000	64,267,000
Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,206,824,000	1,172,725,000	1,035,964,000
Lease Income	0	0	0
Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	1,288,724,000	917,439,000	0
Lease Income	0	0	0
Badcock
Disaggregation of Revenue [Line Items]
Revenues	919,057,000	102,057,000	0
Lease Income	0	0	0
American Freight
Disaggregation of Revenue [Line Items]
Revenues	883,484,000	988,892,000	896,431,000
Lease Income	0	0	0
Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	57,407,000	64,409,000	97,332,000
Lease Income	29,580,000	33,630,000	64,267,000
Sylvan
Disaggregation of Revenue [Line Items]
Revenues	42,336,000	9,682,000	0
Lease Income	0	0	0
Retail [Member]
Disaggregation of Revenue [Line Items]
Revenues	3,257,223,000	2,656,149,000	1,899,662,000
Retail [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,204,168,000	1,172,462,000	1,035,964,000
Retail [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	659,606,000	517,508,000	0
Retail [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	628,170,000	67,353,000	0
Retail [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	762,488,000	894,905,000	857,955,000
Retail [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,737,000	3,913,000	5,743,000
Retail [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	54,000	8,000	0
Wholesale
Disaggregation of Revenue [Line Items]
Revenues	575,068,000	356,322,000
Wholesale | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,298,000	0
Wholesale | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	559,651,000	355,377,000
Wholesale | American Freight
Disaggregation of Revenue [Line Items]
Revenues	14,119,000	945,000
Product [Member]
Disaggregation of Revenue [Line Items]
Revenues	3,832,291,000	3,012,471,000	1,899,662,000
Product [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,205,466,000	1,172,462,000	1,035,964,000
Product [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	1,219,257,000	872,885,000	0
Product [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	628,170,000	67,353,000	0
Product [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	776,607,000	895,850,000	857,955,000
Product [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	2,737,000	3,913,000	5,743,000
Product [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	54,000	8,000	0
Royalties and Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenues	97,481,000	44,491,000	10,092,000
Royalties and Advertising [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	620,000	263,000	0
Royalties and Advertising [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	38,952,000	20,161,000	0
Royalties and Advertising [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Royalties and Advertising [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	2,226,000	1,287,000	0
Royalties and Advertising [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	18,771,000	14,474,000	10,092,000
Royalties and Advertising [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	36,912,000	8,306,000	0
Financial Service [Member]
Disaggregation of Revenue [Line Items]
Revenues	38,244,000	41,623,000	15,977,000
Financial Service [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Financial Service [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Financial Service [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	1,289,000	0	0
Financial Service [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	36,955,000	41,623,000	15,977,000
Financial Service [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Financial Service [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Warranty Revenue
Disaggregation of Revenue [Line Items]
Revenues	100,051,000	46,842,000	29,467,000
Warranty Revenue | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Warranty Revenue | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Warranty Revenue | Badcock
Disaggregation of Revenue [Line Items]
Revenues	52,437,000	5,389,000	0
Warranty Revenue | American Freight
Disaggregation of Revenue [Line Items]
Revenues	41,516,000	34,786,000	16,799,000
Warranty Revenue | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	6,098,000	6,667,000	12,668,000
Warranty Revenue | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Interest [Member]
Disaggregation of Revenue [Line Items]
Revenues	102,248,000	9,926,000	1,288,000
Interest [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues		0	0
Interest [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	305,000	228,000	0
Interest [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	101,172,000	8,712,000	0
Interest [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	771,000	986,000	1,288,000
Interest [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Interest [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Service, Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	105,249,000	49,425,000	8,974,000
Service, Other [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	738,000	0	0
Service, Other [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	30,210,000	24,165,000	0
Service, Other [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	43,301,000	3,807,000	0
Service, Other [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	25,409,000	14,360,000	4,412,000
Service, Other [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	221,000	5,725,000	4,562,000
Service, Other [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	5,370,000	1,368,000	0
Service [Member]
Disaggregation of Revenue [Line Items]
Revenues	535,961,000	209,103,000	65,798,000
Service [Member] | Vitamin Shoppe [Member]
Disaggregation of Revenue [Line Items]
Revenues	1,358,000	263,000	0
Service [Member] | Pet Supplies Plus
Disaggregation of Revenue [Line Items]
Revenues	69,467,000	44,554,000	0
Service [Member] | Badcock
Disaggregation of Revenue [Line Items]
Revenues	290,887,000	34,704,000	0
Service [Member] | American Freight
Disaggregation of Revenue [Line Items]
Revenues	106,877,000	93,042,000	38,476,000
Service [Member] | Buddy's [Member]
Disaggregation of Revenue [Line Items]
Revenues	25,090,000	26,866,000	27,322,000
Service [Member] | Sylvan
Disaggregation of Revenue [Line Items]
Revenues	$ 42,282,000	$ 9,674,000	$ 0

Revenue - Schedule of Contract

Revenue - Schedule of Contract with Customer, Asset and Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Deferred Revenue Arrangement [Line Items]
Accounts Receivable, Sale	$ 143,582	$ 86,087
Financing Receivable, before Allowance for Credit Loss	14,078	13,864
Contract with Customer, Liability	20,816	37,626
Deferred revenue - non-current	22,175	16,984
Other Liabilities and Deferred Revenue, Noncurrent	10,688	8,400
Deferred Revenue	63,244	70,614
Gift Cards And Loyalty Programs
Deferred Revenue Arrangement [Line Items]
Contract with Customer, Liability	$ 9,565	$ 7,604

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Leases [Abstract]
Operating Lease, Cost	$ 244,565	$ 212,837
Short-term Lease, Cost	2,186	2,261
Variable Lease, Cost	41,467	35,367
Sublease Income	(8,857)	(1,753)
Lease, Cost	$ 279,361	$ 248,712

Leases - Schedule of Lessee, Op

Leases - Schedule of Lessee, Operating Lease, Liability, Maturity (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 227,700
Lessee, Operating Lease, Liability, Payments, Due Year Two	197,095
Lessee, Operating Lease, Liability, Payments, Due Year Three	154,809
Lessee, Operating Lease, Liability, Payments, Due Year Four	123,037
Lessee, Operating Lease, Liability, Payments, Due after Year Five	91,038
Lessee, Operating Lease, Liability, Payments, Thereafter	258,120
Lessee, Operating Lease, Liability, Payments, Due	1,051,799
Operating Lease Payments, less interest	151,806
Operating Lease, Liability	$ 899,993

Leases - Schedule of Leases, Ca

Leases - Schedule of Leases, Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Leases [Abstract]
Noncash or Part Cash Acquisition, Lease Right-of Use Assets Acquired	$ 155,857
Noncash or Part Cash Acquisition, Finance Lease Liability, Current Portion		$ 153,538
Operating Lease, Payments	$ 215,528
Finance Lease, Principal Payments		$ 191,827
Operating Lease, Weighted Average Remaining Lease Term	7 years 18 days
Finance Lease, Weighted Average Remaining Lease Term		4 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	8.31%
Finance Lease, Weighted Average Discount Rate, Percent		9.03%

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Leases [Abstract]
Operating Lease, Lease Income	$ 9,900	$ 900
Lessor, Sublease Income	$ 8,000	$ 700
Operating Lease Income Comprehensive Income Extensible List Not Disclosed Flag	true	true

Leases - Schedule of Non-cancel

Leases - Schedule of Non-cancelable Subleases Maturity Analysis (Details) - Subleased to others $ in Thousands	Dec. 31, 2022 USD ($)
Lessor, Lease, Description [Line Items]
2023	$ 7,068
2024	5,241
2025	4,141
2026	3,076
2027	1,606
Thereafter	537
Total future minimum receipts	$ 21,669

Long-Term Obligations - Schedul

Long-Term Obligations - Schedule of Debt (Details) - USD ($)	Dec. 31, 2022	Dec. 25, 2021	Mar. 10, 2021
Debt Instrument [Line Items]
Total	$ 1,382,336,000
Other Long-Term Debt	6,147,000	$ 10,537,000
Long-term Debt and Lease Obligation, Including Current Maturities	1,381,414,000	1,462,393,000
Current Installments of Long-Term Obligation	6,935,000	183,924,000
Long-term debt, excluding current installments	1,374,479,000	1,278,469,000
Term Loan
Debt Instrument [Line Items]
Total	1,069,212,000	1,425,391,000
Revolving Credit Facility
Debt Instrument [Line Items]
Total	295,000,000	20,000,000
Finance Lease Liability [Member]
Debt Instrument [Line Items]
Total	11,055,000	6,465,000
Senior Secured Notes, First Lien Credit Agreement | Term Loan
Debt Instrument [Line Items]
Total	779,777,000	790,057,000
Debt Instrument, Face Amount			$ 1,000,000,000
Senior Secured Notes, First Lien Credit Agreement | Badcock First Lien Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount	0	201,530,000
Senior Lien | Term Loan
Debt Instrument [Line Items]
Total	289,435,000	287,188,000
Debt Instrument, Face Amount	300,000,000
Senior Secured Notes, Second Lien Credit Agreement | Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 0	$ 146,616,000

Long-Term Obligations - Narrati

Long-Term Obligations - Narrative (Details) - USD ($)			12 Months Ended
	Jul. 02, 2021	Mar. 10, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Feb. 02, 2023	Sep. 24, 2022
Debt Instrument [Line Items]
Repayments of Debt	$ 182,100,000
Interest Expense			$ 339,982,000	$ 133,114,000	$ 96,774,000
First Lien Term Loan Credit Facility
Debt Instrument [Line Items]
Interest Expense			6,100,000
Senior Secured Notes, First Lien Credit Agreement | Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,000,000,000
Debt Instrument, Periodic Payment		$ 2,500,000
Debt Instrument, Covenant, Event Of Default, Additional Interest, If Criteria Met, Percentage		2%
First Lien Term Loan Credit Facility | Interest Rate Floor
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.75%
Senior Lien | Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount			300,000,000
Senior Lien | Term Loan | Interest Rate Floor
Debt Instrument [Line Items]
Debt Instrument, Floor Of Variable Rate Basis		1%
Senior Secured Notes, Second Lien Credit Agreement
Debt Instrument [Line Items]
Debt Instrument, Covenant, Leverage-Based Step-Down One		50%
Senior Secured Notes, Second Lien Credit Agreement | Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 0	$ 146,616,000
Debt Instrument, Covenant, Prepayment Criteria, Percentage Of Excess Cash Flow On Annual Basis		50%
Debt Instrument, Covenant, Leverage-Based Step-Down One		25%
Debt Instrument, Covenant, Leverage-Based Step-Down Two		0%
Debt Instrument, Covenant, Percentage Of Net Cash Proceeds Of Certain Other Customary Events		100%
Third Amended And Restated Loan And Security Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 250,000,000					$ 400,000,000
Debt Instrument, Covenant, Event Of Default, Additional Interest, If Criteria Met, Percentage		2%
Line of Credit Facility, Maximum Borrowing Capacity		$ 200,000,000
Senior Subordinated Notes | Long-term Debt | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Currency		0.00
Term Loan Facility | Additional Funding Agreement Terms | Subsequent Event
Debt Instrument [Line Items]
Debt Instrument, Face Amount						$ 300,000,000

Long-Term Obligations - Sched_2

Long-Term Obligations - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 7,327
2024	4,605
2025	297,939
2026	1,071,210
2027	1,255
Thereafter	0
Total	$ 1,382,336

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details) - USD ($)					12 Months Ended
	Jan. 14, 2021	Jan. 11, 2021	Apr. 01, 2020	Mar. 26, 2020	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	May 18, 2022
Class of Stock [Line Items]
Preferred stock		$ 0.01			$ 45,000	$ 45,000
Preferred Stock, Liquidation Preference Per Share		$ 25
Excess Stock, Shares Authorized		446,428
Debt Instrument, Term		30 days
Exercise of stock options (in shares)	314,934
Proceeds from Issuance of Preferred Stock and Preference Stock					0	$ 79,542,000	$ 29,482,000
Preferred Units, Offering Costs	$ 3,200,000
Stock Redeemed or Called During Period, Shares				3,937,726
Preferred Stock, redeemed for Common, Shares				787,545
Adjustments to Additional Paid in Capital, Other					$ 10,000,000
Stock Repurchase Program, Authorized Amount								$ 500,000,000
Stock Repurchased During Period, Shares					5,920,744
Stock Repurchased During Period, Value					$ 172,500,000
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)					4,541,125	4,541,125
Buddy's [Member] | Preferred Stock
Class of Stock [Line Items]
Conversion of Stock, Shares Issued					0.2
Remaining New Holdco Units [Member]
Class of Stock [Line Items]
Preferred Stock, redeemed for Common, Shares			5,495,606
Preferred Stock, additional shares [Member]
Class of Stock [Line Items]
Preferred Stock, redeemed for Common, Shares			1,099,121
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)		2,976,191
Preferred Stock, Dividend Rate, Percentage		7.50%
Sale of Stock, Price Per Share		$ 25.20
Proceeds from Issuance of Preferred Stock and Preference Stock	$ 79,500,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Class of Stock [Line Items]
Net income (loss) from continuing operations	$ (68,573)	$ 191,966	$ 20,645
Net income (loss) from discontinued operations	0	171,822	4,419
Dividends, Preferred Stock	8,514	8,514	755
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic	(77,087)	183,452	19,890
Net Income (Loss) Available to Common Stockholders, Basic	$ (77,087)	$ 355,274	$ 24,309
Weighted Average Number of Shares Outstanding, Basic	39,309,855	40,199,681	34,531,362
Incremental Common Shares Attributable to Dilutive Effect of Options and Restricted Stock Units	0	764,501	440,573
Weighted Average Number of Shares Outstanding, Diluted	39,309,855	40,964,182	34,971,935
Earnings Per Share, Basic	$ (1.96)	$ 4.56	$ 0.57
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	4.27	0.13
Earnings Per Share, Basic	(1.96)	8.83	0.70
Income (Loss) from Continuing Operations, Per Diluted Share	(1.96)	4.48	0.57
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	0	4.19	0.13
Earnings Per Share, Diluted	$ (1.96)	$ 8.67	$ 0.70
Class A Common stock
Class of Stock [Line Items]
Weighted Average Number of Shares Outstanding, Basic	39,309,855	40,199,681	34,531,362
Earnings Per Share, Basic	$ (1.96)	$ 4.56	$ 0.57
Earnings Per Share, Basic	$ (1.96)	$ 8.83	$ 0.70

Stock Compensation Plan - Narra

Stock Compensation Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Jan. 14, 2021	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Stock option activity, Number of options
Exercised (in shares)	(314,934)
stock awards expense
Nonvested stock option activity, Weighted average exercise price
Share-based Payment Arrangement, Expense		$ 15.1	$ 13.4	$ 8.9
stock awards expense | Accounts Payable and Accrued Liabilities
Nonvested stock option activity, Weighted average exercise price
Share-based Payment Arrangement, Expense		$ 8
Stock Option
Stock option activity, Number of options
Outstanding at the end of the period (in shares)		254,564
Restricted Stock Units
Nonvested stock option activity, Weighted average exercise price
Unrecognized compensation costs		$ 5.1
Restricted Stock Units | Accounts Payable and Accrued Liabilities
Nonvested stock option activity, Weighted average exercise price
Unrecognized compensation costs		8.3
MegaGrant
Nonvested stock option activity, Weighted average exercise price
Unrecognized compensation costs		$ 9.8
Equity Plan 2011 [Member]
Stock compensation plan
Common Stock, Par or Stated Value Per Share			$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		5,000,000
Class A common stock available for grant (in shares)		2,439,194	3,004,259

Stock Compensation Plan - Share

Stock Compensation Plan - Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020	Dec. 28, 2019
Stock Option
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	254,564
Weighted average exercise price (in dollars per share)	$ 9.49
Restricted Stock Units
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	273,302,000	269,708,000	296,147,000	205,206,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 36.39	$ 27.92	$ 20.51	$ 13,110
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	118,359,000	124,350,000	192,809,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42,150	$ 35,950	$ 24,830
Share Based Compensation Arrangement by Share Based Payment Award Options Vested in Period	(114,765,000)	(148,447,000)	(85,911,000)
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 29,260	$ 20,110	$ 12,670
Share Based Compensation Arrangement by Share Based Payment Award Options Nonvested Forfeited in Period	0	(2,342,000)	(15,957,000)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 0	$ 12,220	$ 19,690
Performance Shares
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	364,857,000	706,260,000	618,737,000	465,833,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 32.92	$ 19.90	$ 17	$ 14.40
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	102,930,000	107,023,000	154,904,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 42.25	$ 35.66	$ 24.84
Share Based Compensation Arrangement by Share Based Payment Award Options Vested in Period	(666,499,000)	(19,500,000)	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 14.38	$ 14.40	$ 0
Share Based Compensation Arrangement by Share Based Payment Award Options Nonvested Forfeited in Period	0	0	(2,000,000)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 0	$ 0	$ 14.40
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Other	222,166,000
Share-based Compensation Arrangement, adjustment for performance results achieved, weighted average fair value	$ 14.38
Exercise Price, Range One [Member]
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	0
Exercise price, high end of range (in dollars per share)	$ 10.89
Exercise Price, Range One [Member] | Stock Option
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	200,000
Weighted average exercise price (in dollars per share)	$ 8.81
Weighted-average remaining contractual life (in years)	10 months 24 days
Exercise Price, Range Two [Member]
Stock options outstanding and exercisable
Exercise price, low end of range (in dollars per share)	$ 10.90
Exercise price, high end of range (in dollars per share)	$ 12.01
Exercise Price, Range Two [Member] | Stock Option
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	54,564
Weighted average exercise price (in dollars per share)	$ 11.97
Weighted-average remaining contractual life (in years)	10 months 24 days
MegaGrant | Performance Shares
Stock options outstanding and exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	840,926,000	826,926,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Weighted Average Grant Date Fair Value	$ 21.77	$ 20.13	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted	70,000,000	826,926,000
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted, Weighted Average Grant Date Fair Value	$ 39.67	$ 20.13
Share Based Compensation Arrangement by Share Based Payment Award Options Vested in Period	0	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 0	$ 0
Share Based Compensation Arrangement by Share Based Payment Award Options Nonvested Forfeited in Period	(56,000,000)	0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations, Weighted Average Grant Date Fair Value	$ 20.26	$ 0

Stock Compensation Plan - Sched

Stock Compensation Plan - Schedule of Share-Based Payment Arrangement, Option, Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Stock Option
Stock compensation plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	254,564
Weighted average exercise price (in dollars per share)	$ 9.49
Exercise Price, Range One [Member]
Stock compensation plan
Exercise price, low end of range (in dollars per share)	0
Exercise price, high end of range (in dollars per share)	$ 10.89
Exercise Price, Range One [Member] | Stock Option
Stock compensation plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	200,000
Weighted average exercise price (in dollars per share)	$ 8.81
Weighted-average remaining contractual life (in years)	10 months 24 days
Exercise Price, Range Two [Member]
Stock compensation plan
Exercise price, low end of range (in dollars per share)	$ 10.90
Exercise price, high end of range (in dollars per share)	$ 12.01
Exercise Price, Range Two [Member] | Stock Option
Stock compensation plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	54,564
Weighted average exercise price (in dollars per share)	$ 11.97
Weighted-average remaining contractual life (in years)	10 months 24 days

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Tax Contingency [Line Items]
Tax Receivable Agreement, Percentage of Tax Benefit	40%
Stock Repurchased During Period, Shares	5,920,744
Tax Receivable Agreement Expense	$ 1,900
Current Income Tax Expense (Benefit)	64,284	$ 1,362	$ (62,282)
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	6,800
Federal	221,207	226,351	$ 52,511
Unrecognized Tax Benefits, Period Increase (Decrease)	1,100
audit protection
Income Tax Contingency [Line Items]
Effective Income Tax Reconciliation, Uncertain Tax Position	400
UNITED STATES
Income Tax Contingency [Line Items]
Effective Income Tax Reconciliation, Uncertain Tax Position	1,500
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Federal	39,900
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Federal	$ 42,800
Investor Shares purchased [Member]
Income Tax Contingency [Line Items]
Stock Repurchased During Period, Shares	9,433,332
Tax Receivable Agreement
Income Tax Contingency [Line Items]
Deferred Tax Liabilities, Deferred Expense	$ 15,400	$ 17,300
CARES Act, Income Tax Benefit
Income Tax Contingency [Line Items]
Current Income Tax Expense (Benefit)	$ 52,300

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Current Federal Tax Expense (Benefit)	$ 52,046,000	$ 0	$ (62,897,000)
Current State and Local Tax Expense (Benefit)	(12,238,000)	(1,362,000)	615,000
Current Income Tax Expense (Benefit)	64,284,000	1,362,000	(62,282,000)
Federal	(61,372,000)	(37,816,000)	3,931,000
Deferred State and Local Income Tax Expense (Benefit)	(11,757,000)	(2,916,000)	2,150,000
Deferred Tax Expense (Benefit)	(73,129,000)	(34,900,000)	1,781,000
Total income tax expense	$ (8,845,000)	$ (33,538,000)	$ (60,501,000)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ (77,418)	$ 158,428	$ (49,557)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Computed expected income tax expense	$ (16,258,000)	$ 33,270,000
State income taxes, net of federal benefit	(2,788,000)	5,304,000
Effective Income Tax Rate Reconciliation, Deduction, Amount	(738,000)	(27,729,000)
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	2,555,000	2,019,000
Nondeductible expenses	127,000	197,000
Stock compensation expense	(349,000)	(900,000)
Effective Income Tax Rate Reconciliation, Transaction Costs, Amount	(179,000)	858,000
Effective Income Tax Rate Reconciliation, Subpart F Income, amount	43,000
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount	14,700,000	0
Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Non-controlling interest in parent, Amount	2,385,000	0
Effective Income Tax Rate Reconciliation, Change in uncertain tax position, amount	(1,768,000)	(66,000)
Valuation allowance	(6,796,000)	(45,180,000)
Rate change	1,049,000	(1,311,000)
Other	(828,000)	0
Total income tax expense	$ (8,845,000)	$ (33,538,000)	$ (60,501,000)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Income Tax Disclosure [Abstract]
Deferred Tax Assets, Operating Loss Carryforwards	$ 11,068	$ 16,865
Deferred Tax Asset, Section 743 Adjustment	36,006	38,604
Deferred Tax Asset, Interest Carryforward	1,098	1,485
Deferred Tax Asset, State bonus depreciation	4,587	5,069
Deferred Tax Asset, Equity Compensation	6,488	3,806
Deferred Tax Assets, Inventory	9,349	4,528
Deferred revenue	6,807	4,176
Deferred Tax Asset, Accrued Expenses	4,932	9,976
Deferred Tax Asset, Allowances	19,446	795
Deferred Tax Asset, Lease Liability	235,743	185,064
Deferred Tax Assets, Other	21,238	3,463
Deferred Tax Assets, Gross	356,762	273,831
Deferred Tax Assets, Valuation Allowance	(1,417)	(8,213)
Deferred Tax Assets, Net of Valuation Allowance	355,345	265,618
Property, equipment and software (U.S.)	(31,165)	(78,895)
Deferred Tax Liabilities, Goodwill and Intangible Assets	(48,142)	(33,786)
Deferred Tax Liabilities, Right-Of-Use Assets	(230,501)	(181,227)
Deferred Tax Liabilities, Prepaid Expenses	(7,010)	(4,968)
Deferred Tax Liabilities, Gross	(316,818)	(298,876)
Deferred Tax Assets, Net	$ 38,527
Deferred Tax Liabilities, Net		$ (33,258)

Income Taxes - Schedule of Unce

Income Taxes - Schedule of Uncertain Tax Positions Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 3,189,000	$ 4,957,000	$ 357,000
Unrecognized Tax Benefits, Increase Resulting from Acquisition	(1,938,000)	(219,000)
Addition: increases related to current year positions	$ 170,000	$ 4,819,000

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Tax Receivable Agreement, Percentage of Tax Benefit	40%
Tax Receivable Agreement, Payment to Non-controlling Holders	$ 15.4
Tax Receivable Agreement Expense	1.9
Related Party Transaction [Domain]
Related Party Transaction [Line Items]
Tax Receivable Agreement Expense	$ 1.7
Vintage RTO, L.P. ownership [Member]
Related Party Transaction [Line Items]
aggregate voting power	40.20%
Payment to Noncontrolling Holders [Member]
Related Party Transaction [Line Items]
Tax Receivable Agreement, Percentage of Tax Benefit	40%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2022 USD ($)
Leasing Arrangement
Commitments and contingencies
Contractual Obligation	$ 30.2

Segments - Narrative (Details)

Segments - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 segment
Segment Reporting [Abstract]
Number of Reportable Segments	6

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Segment Reporting Information [Line Items]
Revenues	$ 4,397,832	$ 3,255,204	$ 2,029,727
Federal	221,207	226,351	52,511
Assets	3,630,412	3,913,171
Assets, Continuing Operations		3,913,171
Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	221,207	226,351	52,511
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Federal	(34,238)	(24,495)	(13,572)
Assets	107,977	86,883
Vitamin Shoppe [Member]
Segment Reporting Information [Line Items]
Revenues	1,206,824	1,172,725	1,035,964
Vitamin Shoppe [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	106,789	104,004	5,371
Assets	625,543	596,964
Pet Supplies Plus
Segment Reporting Information [Line Items]
Revenues	1,288,724	917,439	0
Pet Supplies Plus | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	81,228	41,654	0
Assets	977,234	957,849
Badcock
Segment Reporting Information [Line Items]
Revenues	919,057	102,057	0
Badcock | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	129,104	22,674	0
Assets	789,727	1,062,310
American Freight
Segment Reporting Information [Line Items]
Revenues	883,484	988,892	896,431
American Freight | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	(79,524)	66,541	40,348
Assets	904,378	959,282
Buddy's [Member]
Segment Reporting Information [Line Items]
Revenues	57,407	64,409	97,332
Buddy's [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	12,520	16,685	20,364
Assets	135,192	146,033
Sylvan
Segment Reporting Information [Line Items]
Revenues	42,336	9,682	0
Sylvan | Operating Segments [Member]
Segment Reporting Information [Line Items]
Federal	5,328	(712)	$ 0
Assets	$ 90,361	$ 103,850

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Thousands	Feb. 28, 2023 USD ($) business	Feb. 02, 2023 USD ($)
Term Loan Facility | Additional Funding Agreement Terms
Subsequent Event [Line Items]
Debt Instrument, Face Amount		$ 300,000
Pet Supplies Plus
Subsequent Event [Line Items]
Business Acquisition, Transaction Costs	$ 3,700
Number of Stores | business	20

Uncategorized Items - tax-20221

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 45,146,000