Driven Brands (DRVN) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 28, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
Document Transition Report	false
Entity File Number	001-39898
Entity Registrant Name	Driven Brands Holdings Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3595252
Entity Address, Address Line One	440 South Church Street
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28202
City Area Code	704
Local Phone Number	377-8855
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DRVN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		164,114,099
Entity Central Index Key	0001804745
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-28

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Net revenue:
Total net revenue	$ 591,679	$ 581,034	$ 1,775,471	$ 1,750,352
Operating Expenses:
Selling, general, and administrative expenses	149,766	123,012	387,291	332,155
Acquisition related costs	(606)	1,667	1,459	7,264
Store opening costs	1,476	1,372	3,679	3,774
Depreciation and amortization	43,357	45,639	131,219	129,256
Goodwill impairment	0	850,970	0	850,970
Asset impairment charges and lease terminations	24,111	111,239	55,934	117,450
Total operating expenses	552,172	1,487,891	1,596,939	2,482,430
Operating income	39,507	(906,857)	178,532	(732,078)
Other expenses, net:
Interest expense, net	43,677	41,292	119,245	120,304
Foreign currency transaction loss, net	765	2,980	5,767	3
Loss on debt extinguishment	205	0	205	0
Other expense, net	44,647	44,272	125,217	120,307
(Loss) income before taxes	(5,140)	(951,129)	53,315	(852,385)
Income tax expense (benefit)	9,807	(151,818)	33,842	(120,572)
Net (loss) income	$ (14,947)	$ (799,311)	$ 19,473	$ (731,813)
(Loss) earnings per share:
Basic (in dollars per share)	$ (0.09)	$ (4.82)	$ 0.12	$ (4.40)
Diluted (in dollars per share)	$ (0.09)	$ (4.83)	$ 0.12	$ (4.41)
Weighted average shares outstanding
Basic (in shares)	159,804	162,398	159,743	162,698
Diluted (in shares)	159,804	162,398	160,713	162,698
Franchise royalties and fees
Net revenue:
Total net revenue	$ 49,475	$ 47,362	$ 144,549	$ 140,682
Company-operated store sales
Net revenue:
Total net revenue	388,132	389,041	1,157,269	1,159,685
Operating Expenses:
Operating expenses	242,073	262,282	738,300	762,731
Independently-operated store sales
Net revenue:
Total net revenue	49,959	43,582	163,286	157,647
Operating Expenses:
Operating expenses	29,382	25,773	90,693	87,095
Advertising contributions
Net revenue:
Total net revenue	26,823	27,121	75,804	73,547
Operating Expenses:
Operating expenses	26,823	27,121	75,804	73,547
Supply and other revenue
Net revenue:
Total net revenue	77,290	73,928	234,563	218,791
Operating Expenses:
Operating expenses	$ 35,790	$ 38,816	$ 112,560	$ 118,188

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (14,947)	$ (799,311)	$ 19,473	$ (731,813)
Other comprehensive income:
Foreign currency translation adjustments	21,212	(26,043)	2,629	(8,527)
Unrealized gain (loss) from cash flow hedges, net of tax expense (benefit) of ($8), $21, $14, $0, respectively	558	(281)	(924)	(259)
Actuarial gain (loss) of defined pension plan, net of tax expense of $0	12	(27)	2	(15)
Other comprehensive income (loss), net	21,782	(26,351)	1,707	(8,801)
Total comprehensive income (loss)	6,835	(825,662)	21,180	(740,614)
Comprehensive loss attributable to non-controlling interests	0	(13)	0	0
Comprehensive income (loss) attributable to Driven Brands Holdings Inc.	$ 6,835	$ (825,649)	$ 21,180	$ (740,614)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized (loss) gain from cash flow hedges, tax (benefit) expense	$ (8)	$ 21	$ 14	$ 0
Actuarial (loss) gain of defined pension plan, tax expense	$ 0	$ 0	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 204,181	$ 176,522
Restricted cash	4,414	657
Accounts and notes receivable, net	171,887	151,259
Inventory	69,857	83,171
Prepaid and other assets	37,483	46,714
Income tax receivable	18,429	15,928
Assets held for sale	185,985	301,229
Advertising fund assets, restricted	54,939	45,627
Total current assets	747,175	821,107
Other assets	116,046	56,565
Property and equipment, net	1,418,352	1,438,496
Operating lease right-of-use assets	1,362,917	1,389,316
Deferred commissions	6,955	6,312
Intangibles, net	677,277	739,402
Goodwill	1,427,467	1,455,946
Deferred tax assets	3,627	3,660
Total assets	5,759,816	5,910,804
Current liabilities:
Accounts payable	78,759	67,526
Accrued expenses and other liabilities	254,341	242,171
Income tax payable	1,016	5,404
Current portion of long-term debt	32,872	32,673
Income tax receivable liability	0	56,001
Advertising fund liabilities	26,668	23,392
Total current liabilities	393,656	427,167
Long-term debt	2,732,572	2,910,812
Deferred tax liabilities	164,713	154,742
Operating lease liabilities	1,311,895	1,332,519
Income tax receivable liability	133,611	117,915
Deferred revenue	31,750	30,507
Long-term accrued expenses and other liabilities	28,812	30,419
Total liabilities	4,797,009	5,004,081
Commitments and contingencies (Note 12)
Preferred Stock $0.01 par value; 100,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value, 900,000,000 shares authorized: and 164,113,794 and 163,965,231 shares outstanding; respectively	1,641	1,640
Additional paid-in capital	1,687,948	1,652,401
Accumulated deficit	(690,614)	(710,087)
Accumulated other comprehensive loss	(36,168)	(37,875)
Total shareholders’ equity attributable to Driven Brands Holdings Inc.	962,807	906,079
Non-controlling interests	0	644
Total shareholders' equity	962,807	906,723
Total liabilities and shareholders' equity	$ 5,759,816	$ 5,910,804

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 28, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares outstanding (in shares)	164,113,794	163,965,231

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	(Accumulated deficit) retained earnings	Accumulated other comprehensive loss	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2022		167,404,047
Beginning balance at Dec. 31, 2022		$ 1,674	$ 1,628,904	$ 84,795	$ (62,435)	$ 631
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued relating to Employee Stock Purchase Plan (in shares)		82,546
Stock issued relating to Employee Stock Purchase Plan		$ 1	2,080
Shares issued for exercise/vesting of share-based compensation awards (in shares)		348,087
Shares issued for exercise/vesting of share-based compensation awards		$ 3
Shares repurchased (in shares)	(3,601,694)	(3,601,694)
Shares repurchased	$ (50,000)	$ (36)		(49,920)
Forfeiture of restricted stock awards (in shares)		(273,761)
Forfeiture of restricted stock awards		$ (3)
Share-based compensation expense			9,730
Exercise of stock options			6,117
Net (loss) income	(731,813)			(731,813)
Other comprehensive income (loss)	(8,801)				(8,801)
Ending balance (in shares) at Sep. 30, 2023		163,959,225
Ending balance at Sep. 30, 2023	$ 880,927	$ 1,639	1,646,831	(696,938)	(71,236)	631
Beginning balance (in shares) at Jul. 01, 2023		167,366,561
Beginning balance at Jul. 01, 2023		$ 1,674	1,637,945	152,293	(44,898)	644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued relating to Employee Stock Purchase Plan (in shares)		56,188
Stock issued relating to Employee Stock Purchase Plan		$ 1	1,468
Shares issued for exercise/vesting of share-based compensation awards (in shares)		169,784
Shares issued for exercise/vesting of share-based compensation awards		$ 1
Shares repurchased (in shares)	(3,601,694)	(3,601,694)
Shares repurchased	$ (50,000)	$ (36)		(49,920)
Forfeiture of restricted stock awards (in shares)		(31,614)
Forfeiture of restricted stock awards		$ (1)
Share-based compensation expense			2,681
Exercise of stock options			4,737
Net (loss) income	(799,311)			(799,311)
Other comprehensive income (loss)	(26,351)				(26,338)	(13)
Ending balance (in shares) at Sep. 30, 2023		163,959,225
Ending balance at Sep. 30, 2023	$ 880,927	$ 1,639	1,646,831	(696,938)	(71,236)	631
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock (in shares)	0
Preferred stock	$ 0
Preferred stock (in shares)	0
Beginning balance (in shares) at Dec. 30, 2023	163,965,231	163,965,231
Beginning balance at Dec. 30, 2023	$ 906,723	$ 1,640	1,652,401	(710,087)	(37,875)	644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued relating to Employee Stock Purchase Plan (in shares)		73,196
Stock issued relating to Employee Stock Purchase Plan			904
Shares issued for exercise/vesting of share-based compensation awards (in shares)		174,953
Shares issued for exercise/vesting of share-based compensation awards		$ 2
Forfeiture of restricted stock awards (in shares)		(99,586)
Forfeiture of restricted stock awards		$ (1)
Share-based compensation expense			35,641
Tax obligations for share-based compensation			(998)
Net (loss) income	19,473			19,473
Other comprehensive income (loss)	$ 1,707				1,707
Acquisition of non-controlling interest						(644)
Ending balance (in shares) at Sep. 28, 2024	164,113,794	164,113,794
Ending balance at Sep. 28, 2024	$ 962,807	$ 1,641	1,687,948	(690,614)	(36,168)	0
Beginning balance (in shares) at Jun. 29, 2024		164,082,430
Beginning balance at Jun. 29, 2024		$ 1,641	1,674,766	(675,667)	(57,950)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock issued relating to Employee Stock Purchase Plan (in shares)		29,432
Stock issued relating to Employee Stock Purchase Plan			402
Shares issued for exercise/vesting of share-based compensation awards (in shares)		1,932
Share-based compensation expense			12,798
Tax obligations for share-based compensation			(18)
Net (loss) income	(14,947)			(14,947)
Other comprehensive income (loss)	$ 21,782				21,782
Ending balance (in shares) at Sep. 28, 2024	164,113,794	164,113,794
Ending balance at Sep. 28, 2024	$ 962,807	$ 1,641	$ 1,687,948	$ (690,614)	$ (36,168)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock (in shares)	0
Preferred stock	$ 0

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) (Parenthetical) - $ / shares	Sep. 28, 2024	Dec. 30, 2023	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Net (loss) income	$ 19,473	$ (731,813)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	131,219	129,256
Goodwill impairment	0	850,970
Share-based compensation expense	35,641	9,730
Loss on foreign denominated transactions	8,744	3,706
Gain on foreign currency derivatives	(2,977)	(3,704)
(Gain) loss on sale and disposal of businesses, fixed assets, and sale leaseback transactions	(7,928)	1,730
Reclassification of interest rate hedge to income	(1,560)	(1,358)
Bad debt expense	5,759	1,244
Asset impairment charges and lease terminations	55,934	117,450
Amortization of deferred financing costs and bond discounts	7,240	6,287
Amortization of cloud computing	3,436	991
Provision for deferred income taxes	13,571	(134,266)
Loss on debt extinguishment	205	0
Other, net	3,219	23,441
Changes in assets and liabilities, net of acquisitions:
Accounts and notes receivable, net	(37,752)	2,464
Inventory	1,337	(12,531)
Prepaid and other assets	7,648	(3,909)
Advertising fund assets and liabilities, restricted	(4,209)	(10,923)
Other assets	(63,015)	(29,210)
Deferred commissions	642	658
Deferred revenue	1,248	1,961
Accounts payable	11,504	24,913
Accrued expenses and other liabilities	27,359	(29,442)
Income tax receivable	(8,230)	(5,612)
Cash provided by operating activities	208,508	212,033
Cash flows from investing activities:
Capital expenditures	(219,307)	(482,633)
Cash used in business acquisitions, net of cash acquired	(2,759)	(53,641)
Proceeds from sale leaseback transactions	17,944	172,230
Proceeds from sale or disposal of businesses and fixed assets	255,548	2,837
Cash provided by (used in) investing activities	51,426	(361,207)
Cash flows from financing activities:
Payment of debt extinguishment and issuance costs	(9,646)	0
Proceeds from the issuance of long-term debt	274,794	0
Repayment of long-term debt	(422,492)	(20,969)
Proceeds from revolving lines of credit and short-term debt	46,000	335,000
Repayment of revolving lines of credit and short-term debt	(71,000)	(120,000)
Repayment of principal portion of finance lease liability	(4,301)	(2,020)
Payment of Tax Receivable Agreement	(38,374)	0
Acquisition of non-controlling interest	(644)	0
Share repurchases	0	(49,956)
Tax obligations for share-based compensation	(998)	0
Stock option exercises	0	6,117
Other, net	0	(322)
Cash (used in) provided by financing activities	(226,661)	147,850
Effect of exchange rate changes on cash	71	365
Net change in cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted	33,344	(959)
Cash and cash equivalents, beginning of period	176,522	227,110
Cash included in advertising fund assets, restricted, beginning of period	38,537	32,871
Restricted cash, beginning of period	657	792
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, beginning of period	215,716	260,773
Cash and cash equivalents, end of period	204,181	211,280
Cash included in advertising fund assets, restricted, end of period	40,465	47,877
Restricted cash, end of period	4,414	657
Cash, cash equivalents, restricted cash, and cash included in advertising fund assets, restricted, end of period	249,060	259,814
Supplemental cash flow disclosures - non-cash items:
Capital expenditures included in accrued expenses and other liabilities	16,742	24,855
Deferred consideration included in accrued expenses and other liabilities	1,705	9,275
Supplemental cash flow disclosures - cash paid for:
Interest	111,304	120,261
Income taxes	$ 27,771	$ 18,586

Description of Business

Description of Business	9 Months Ended
	Sep. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Description of Business Driven Brands Holdings Inc. together with its subsidiaries (collectively, the “Company”) is a Delaware corporation and is the parent holding company of Driven Brands, Inc. and Shine Holdco (UK) Limited (collectively, “Driven Brands”). Driven Brands is the largest automotive services company in North America with a growing and highly-franchised base of more than 5,100 franchised, independently-operated, and company-operated locations across 49 U.S. states and 13 other countries. The Company has a portfolio of highly recognized brands, including Take 5 Oil Change ® , Take 5 Car Wash ® , Meineke Car Care Centers ® , MAACO ® , CARSTAR ® , Auto Glass Now ® , and 1-800-Radiator & A/C ® that compete in the automotive services industry. Tax Receivable Agreement

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Fiscal Year The Company operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the last Saturday in December and fiscal quarters ending on the 13th Saturday of each quarter (or 14th Saturday when applicable with respect to the fourth fiscal quarter). The three and nine months ended September 28, 2024 and September 30, 2023 each consisted of 13 weeks and 39 weeks, respectively. The Car Wash segment is consolidated based on a calendar month end. Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, the unaudited interim financial data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results of operations, balance sheet, cash flows, and shareholders’/members’ equity for the interim periods presented. The adjustments include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 30, 2023. Certain information and note disclosures normally included in the unaudited financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The results of operations for the three and nine months ended September 28, 2024 may not be indicative of the results to be expected for any other interim period or the year ending December 28, 2024. The nine months ended September 28, 2024 include an adjustment to the unaudited consolidated balance sheet and consolidated statement of operations that originated in the prior year. The adjustment decreased current assets and increased selling, general, and administrative expenses by $3.7 million. The Company evaluated the materiality of the adjustment on prior period financial statements, recorded the adjustment in the current period, and concluded the effect of the adjustment was immaterial to both the current and prior financial statements. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and the related notes to the consolidated financial statements. Significant items that are subject to estimates and assumptions include, but are not limited to, valuation of intangible assets and goodwill; income taxes; allowances for credit losses; valuation of derivatives; self-insurance claims; and share-based compensation. Management evaluates its estimates on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on historical experience, current conditions, and various other additional information, may affect amounts reported in future periods. Actual results could differ due to uncertainty inherent in the nature of these estimates. Shares Repurchased We record shares repurchased on their trade date and reduce shareholders’ equity and increase accounts payable. Shares repurchased are retired, and the excess of repurchase price over the par value of the shares is charged to retained earnings. In August 2023, the Board of Directors authorized a program to repurchase up to $50 million of the Company’s common stock (the “Share Repurchase Program”). During the three and nine months ended September 30, 2023, the Company repurchased 3,601,694 shares of its common stock for approximately $50 million, at an average price per share of $13.87. All repurchases were made in open market transactions. As of September 30, 2023, the Company completed the purchase of all shares under the Share Repurchase Program. Fair Value of Financial Instruments Financial assets and liabilities are categorized, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to the quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. Observable market data, when available, is required to be used in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; or Level 3: Unobservable inputs for the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. Financial assets and liabilities measured at fair value on a recurring basis as of September 28, 2024 and December 30, 2023 are summarized as follows: Items Measured at Fair Value at September 28, 2024 (in thousands) Level 1 Level 2 Total Derivative assets, recorded in other assets $ — $ 1,464 $ 1,464 Derivative liabilities, recorded in accrued expenses and other liabilities — 247 247 Items Measured at Fair Value at December 30, 2023 (in thousands) Level 1 Level 2 Total Derivative assets, recorded in other assets — 285 285 Derivative liabilities, recorded in accrued expenses and other liabilities — 493 493 The carrying value and estimated fair value of total long-term debt were as follows: September 28, 2024 December 30, 2023 (in thousands) Carrying value Estimated fair value Carrying value Estimated fair value Long-term debt $ 2,802,419 $ 2,673,945 $ 2,977,996 $ 2,800,011 Recently Issued Accounting Standards In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. The standard enhances segment disclosure requirements of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) to assist in understanding how segment expenses and operating results are evaluated. The new standard does not change the definition or aggregation of operating segments. The standard also expands the interim disclosure requirements on a retrospective basis. This ASU is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. This ASU improves the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the tax rate reconciliation as well as disaggregation of income taxes paid by jurisdiction. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures The Company strategically acquires companies and assets to increase its footprint and offer products and services that diversify its existing offerings, primarily through asset purchase agreements. These acquisitions are accounted for as business combinations using the acquisition method, whereby the purchase price is allocated to the assets acquired and liabilities assumed, based on their fair values as of the date of the acquisition with the remaining amount recorded in goodwill. 2024 Acquisitions The Company completed one acquisition within the Maintenance segment and one acquisition in the international car wash business within the Car Wash segment during the nine months ended September 28, 2024, representing two sites and one site, respectively, for an aggregate cash consideration, net of cash acquired and liabilities assumed, of less than $2 million. 2023 Acquisitions The Company completed five acquisitions within the Maintenance segment during the nine months ended September 30, 2023, representing five sites. The aggregate cash consideration for these acquisitions, net of cash acquired and liabilities assumed, was approximately $8 million. The Company completed three acquisitions within the Car Wash segment during the nine months ended September 30, 2023, representing four sites. The aggregate cash consideration for these acquisitions, net of cash acquired and liabilities assumed, was approximately $15 million. The Company completed two acquisitions in the Paint, Collision & Glass segment during the nine months ended September 30, 2023, representing two sites. The aggregate cash consideration for these acquisitions, net of cash acquired and liabilities assumed, was approximately $6 million. The Company estimated the fair value of acquired assets and liabilities as of the date of acquisition based on information currently available. As the Company finalizes the fair value of assets acquired and liabilities assumed, additional purchase price adjustments may be recorded during the measurement period. The provisional amounts for assets acquired and liabilities assumed for the 2023 acquisitions are as follows: 2023 Maintenance Segment (in thousands) Maintenance Assets: Operating lease right-of-use assets $ 2,678 Property and equipment, net 3,805 Deferred tax asset 10 Assets acquired 6,493 Liabilities: Accrued expenses and other liabilities 179 Operating lease liabilities 2,476 Total liabilities assumed 2,655 Cash consideration, net of cash acquired 7,206 Deferred consideration 390 Total consideration, net of cash acquired $ 7,596 Goodwill $ 3,759 2023 Car Wash Segment (in thousands) Car Wash Assets: Operating lease right-of-use assets $ 1,249 Property and equipment, net 11,181 Assets acquired 12,430 Liabilities: Accrued expenses and other liabilities 11 Deferred tax liability 6 Operating lease liabilities 1,220 Total liabilities assumed 1,237 Cash consideration, net of cash acquired 15,293 Deferred consideration 25 Total consideration, net of cash acquired $ 15,318 Goodwill $ 4,125 2023 Paint, Collision & Glass Segment (in thousands) Paint, Collision & Glass Assets: Inventory $ 35 Property and equipment, net 667 Deferred tax asset 51 Assets acquired 753 Cash consideration, net of cash acquired 4,947 Deferred consideration 695 Total Consideration, net of cash acquired $ 5,642 Goodwill $ 4,889 Goodwill represents the excess of the consideration paid over the fair value of net assets acquired and includes the expected benefit of synergies within the existing segments and intangible assets that do not qualify for separate recognition. Goodwill, which was allocated to the Maintenance, Car Wash, and Paint, Collision & Glass segments, is substantially all deductible for income tax purposes. Deferred Consideration and Transaction Costs Deferred consideration is typically paid six months to one-year after the acquisition closing date once all conditions under the purchase agreement have been satisfied. The Company had $2 million and $9 million of deferred consideration related to acquisitions as of September 28, 2024 and September 30, 2023, respectively. The Company paid approximately $1 million and $27 million of deferred consideration related to prior acquisitions during the nine months ended September 28, 2024 and September 30, 2023, respectively. Deferred consideration is recorded within investing activities at the time of payment. The Company incurred less than $1 million of transaction costs during each of the three and nine months ended September 28, 2024 and September 30, 2023. Divestitures During the three months ended September 28, 2024, the Company completed the sale of its Canadian distribution business, primarily operated under the PH Vitres D’Auto brand, within the Platform Services segment at a purchase price of approximately $78 million. The sale included essentially all assets and liabilities associated with the business as well as allocated goodwill of $13 million resulting in a gain of $3 million on the sale of business within selling, general and administrative expenses on the unaudited consolidated statement of operations during the three and nine months ended September 28, 2024. Approximately $47 million of the sale proceeds were utilized to repay a portion of outstanding secured senior notes with the remainder primarily utilized to repay a portion of the outstanding Term Loan.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company records contract assets for the incremental costs of obtaining a contract with a customer if it expects the benefit of those costs to be longer than one year and if such costs are material. Commission expenses, a primary cost associated with the sale of franchise licenses, are amortized to selling, general, and administrative expenses in the unaudited consolidated statements of operations ratably over the life of the associated franchise agreement. Capitalized costs to obtain a contract as of September 28, 2024 and December 30, 2023 were $7 million and $6 million, respectively, and are presented within deferred commissions on the consolidated balance sheets. The Company recognized less than $1 million of costs during the three and nine months ended months ended September 28, 2024, respectively, and the Company recognized less than $1 million and $1 million during the three and nine months ended September 30, 2023, respectively, that were recorded as a contract asset at the beginning of the periods.

Segment Information

Segment Information	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s worldwide operations are comprised of the following reportable segments: Maintenance, Car Wash, Paint, Collision & Glass, and Platform Services. In addition to the reportable segments, the Company’s consolidated financial results include “Corporate and Other” activity. Corporate and Other incurs costs related to the advertising revenu es and expenses and shared service costs, which are related to finance, IT, human resources, legal, supply chain, and other support services. Corporate and Other activity includes the adjustments necessary to eliminate certain intercompany transactions, namely sales by the Platform Services segment to the Paint, Collision & Glass and Maintenance segments. Segment results for the three and nine months ended September 28, 2024 and September 30, 2023 are as follows: Three Months Ended September 28, 2024 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 14,699 $ — $ 25,095 $ 9,681 $ — $ 49,475 Company-operated store sales 231,050 90,451 65,380 1,251 — 388,132 Independently-operated store sales — 49,959 — — — 49,959 Advertising fund contributions — — — — 26,823 26,823 Supply and other revenue 32,438 1,765 18,477 41,286 (16,676) 77,290 Total revenue $ 278,187 $ 142,175 $ 108,952 $ 52,218 $ 10,147 $ 591,679 Segment Adjusted EBITDA $ 96,666 $ 25,563 $ 34,703 $ 22,467 $ (39,144) $ 140,255 Three Months Ended September 30, 2023 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 14,566 $ — $ 23,799 $ 8,997 $ — $ 47,362 Company-operated store sales 204,460 98,132 85,207 1,242 — 389,041 Independently-operated store sales — 43,582 — — — 43,582 Advertising fund contributions — — — — 27,121 27,121 Supply and other revenue 25,333 1,099 20,408 45,695 (18,607) 73,928 Total revenue $ 244,359 $ 142,813 $ 129,414 $ 55,934 $ 8,514 $ 581,034 Segment Adjusted EBITDA $ 85,483 $ 20,494 $ 32,545 $ 22,396 $ (37,496) $ 123,422 Nine Months Ended September 28, 2024 (in thousands) Maintenance Car Wash Paint, Platform Services Corporate Total Franchise royalties and fees $ 45,917 $ — $ 74,202 $ 24,430 $ — $ 144,549 Company-operated store sales 682,730 275,889 195,412 3,238 — 1,157,269 Independently-operated store sales — 163,286 — — — 163,286 Advertising fund contributions — — — — 75,804 75,804 Supply and other revenue 89,176 4,625 57,751 139,617 (56,606) 234,563 Total net revenue $ 817,823 $ 443,800 $ 327,365 $ 167,285 $ 19,198 $ 1,775,471 Segment Adjusted EBITDA $ 291,037 $ 88,469 $ 100,695 $ 67,649 $ (122,156) $ 425,694 Nine Months Ended September 30, 2023 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 41,224 $ — $ 74,627 $ 24,831 $ — $ 140,682 Company-operated store sales 605,393 302,193 248,796 3,303 — 1,159,685 Independently-operated store sales — 157,647 — — — 157,647 Advertising fund contributions — — — — 73,547 73,547 Supply and other revenue 67,737 4,708 59,952 137,171 (50,777) 218,791 Total net revenue $ 714,354 $ 464,548 $ 383,375 $ 165,305 $ 22,770 $ 1,750,352 Segment Adjusted EBITDA $ 242,528 $ 101,303 $ 109,052 $ 61,923 $ (119,149) $ 395,657 The reconciliations of (Loss) income before taxes to Segment Adjusted EBITDA for the three and nine months ended September 28, 2024 and September 30, 2023 are as follows: Three Months Ended Nine Months Ended (in thousands) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 (Loss) income before taxes $ (5,140) $ (951,129) $ 53,315 $ (852,385) Depreciation and amortization 43,357 45,639 131,219 129,256 Interest expense, net 43,677 41,292 119,245 120,304 Acquisition related costs (a) (606) 1,667 1,459 7,264 Non-core items and project costs, net (b) 6,426 1,486 16,263 6,113 Store opening costs 1,476 1,372 3,679 3,774 Cloud computing amortization (c) 1,022 991 3,436 991 Share-based compensation expense (d) 12,798 2,681 35,641 9,730 Foreign currency transaction loss, net (e) 765 2,980 5,767 3 Goodwill impairment (f) — 850,970 — 850,970 Asset sale leaseback (gain) loss,net, impairment and closed store expenses (g) 36,275 125,473 55,465 119,637 Loss on debt extinguishment (h) 205 — 205 — Segment Adjusted EBITDA $ 140,255 $ 123,422 $ 425,694 $ 395,657 (a) Consists of acquisition costs as reflected within the unaudited consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. We expect to incur similar costs in connection with other acquisitions in the future and, under GAAP, such costs relating to acquisitions are expensed as incurred. (b) Consists of discrete items and project costs, including third party consulting, professional, and legal fees associated with strategic transformation initiatives as well as non-recurring payroll-related costs. (c) Includes non-cash amortization expenses relating cloud computing arrangements. (d) Represents non-cash share-based compensation expense. (e) Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of our intercompany loans as well as gains and losses on cross currency swaps and forward contracts. (f) Relates to a goodwill impairment within the Car Wash segment. Refer to Note 6 for additional information. (g) Relates to (gains) losses, net on sale leasebacks, impairment of certain fixed assets and operating lease right-of-use assets related to closed and underperforming locations, assets held for sale, and lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates. Refer to Note 6 for additional information. (h) Represents charges incurred related to the Company’s partial repayment of Senior Secured Notes in conjunction with the sale of its Canadian distribution business.

Assets Held For Sale and Impair

Assets Held For Sale and Impairments	9 Months Ended
	Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Assets Held For Sale and Impairments	Assets Held For Sale and Impairments U.S. Car Wash During 2023, management performed a strategic review of the U.S. car wash operations, which included, but was not limited to, an evaluation of the following: store performance, the competitive landscape, revenue and expense optimization opportunities, and capital requirements. As a result of this strategic review, management approved the closure of 29 stores, halted the opening of new company-operated stores, and began marketing property and equipment for sale that will not be utilized by the Company. These actions resulted in the transfer of assets from property and equipment to assets held for sale and impairment charges of $111 million relating to property and equipment, assets held for sale, and right-of-use assets during the three and nine months ended September 30, 2023. As a result of the evaluation performed during 2023, as well as other qualitative and quantitative factors, including a decline in the stock price during the third quarter of 2023, management determined a triggering event had occurred requiring a step one quantitative analysis of the Company’s goodwill and indefinite lived intangible assets. Based on the results of our interim impairment analysis, we concluded the carrying value of the U.S. Car Wash reporting unit exceeded its fair value, and we recorded a full goodwill impairment charge of $851 million during the three and nine months ended September 30, 2023. The fair value of the remaining reporting units exceeded their carrying amounts, indicating no goodwill impairment. The fair values of each reporting unit were determined using a combination of the income approach and market approach valuation methodologies. The changes in assets held for sale were as follows: (in thousands) Balance at December 30, 2023 $ 301,229 Additions 78,868 Impairments (40,926) Sales and disposals (153,186) Balance at September 28, 2024 $ 185,985 During the nine months ended September 28, 2024, management continued to enhance properties included within held for sale resulting in an increase to assets held for sale of $79 million. Management evaluated the fair value for all assets included within assets held for sale, which resulted in an impairment of $11 million and $41 million for the three and nine months ended September 28, 2024, respectively. In addition, during the nine months ended September 28, 2024, the Company sold 48 properties resulting in a net gain of $1 million and $12 million for the three and nine months ended September 28, 2024, respectively. The Company will continue to evaluate the fair value of assets held for sale, which may result in additional impairments.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt obligations consist of the following: (in thousands) September 28, 2024 December 30, 2023 Series 2018-1 Securitization Senior Notes, Class A-2 $ — $ 259,188 Series 2019-1 Securitization Senior Notes, Class A-2 275,926 285,000 Series 2019-2 Securitization Senior Notes, Class A-2 254,945 263,313 Series 2020-1 Securitization Senior Notes, Class A-2 163,519 168,875 Series 2020-2 Securitization Senior Notes, Class A-2 422,673 436,500 Series 2021-1 Securitization Senior Notes, Class A-2 425,966 439,875 Series 2022-1 Securitization Senior Notes, Class A-2 349,068 360,438 Series 2024-1 Securitization Senior Notes, Class A-2 274,313 — Term Loan Facility 390,000 491,250 Revolving Credit Facility 223,000 248,000 Other debt (a) 23,009 25,557 Total debt 2,802,419 2,977,996 Less: unamortized debt issuance costs (36,975) (34,511) Less: current portion of long-term debt (32,872) (32,673) Total long-term debt, net $ 2,732,572 $ 2,910,812 (a) Consists primarily of finance lease obligations. Series 2019-3 Variable Funding Securitization Senior Notes In December 2019, Driven Brands Funding, LLC (the “Issuer”) issued Series 2019-3 Variable Funding Senior Notes, Class A-1 (the “2019 VFN”) in the revolving amount of $115 million.The commitment under the 2019 VFN was set to expire in July 2022, with the option of three one-year extensions. In July 2023, the Company exercised the second of three one-year extension options. As of July 1, 2023, borrowings incur interest at the Base Rate plus an applicable margin or Secured Overnight Financing Rate (“SOFR”) plus an applicable term adjustment. In July 2024, the 2019 VFN was refinanced with the 2024 VFN described below. 2022-1 Securitization Senior Notes In conjunction with the issuance of the 2022-1 Securitization Senior Notes, the Issuer and Driven Brands Canada Funding Corporation (together “the Co-Issuers”) also issued Series 2022-1 Class A-1 Notes in the amount of $135 million, which can be accessed at the Co-Issuers’ option if certain conditions are met. 2024-1 Securitization Senior Notes In July 2024, the Co-Issuers issued $275 million of 2024-1 Class A-2 Securitization Senior Notes (the “2024-1 Senior Notes”) bearing a fixed interest rate of 6.372% per annum. The 2024-1 Senior Notes have a final legal maturity date in October 2054 and an anticipated repayment date in October 2031. The 2024-1 Senior Notes are secured by substantially all assets of the Co-Issuers and are guaranteed by the Co-Issuers and each of their respective subsidiaries. Proceeds from the 2024-1 Senior Notes were primarily used to repay the Company’s 2018-1 Class A-2 Securitization Senior Notes (the “2018-1 Senior Notes”). The Company incurred costs with third parties related to the issuance of the 2024-1 Senior Notes of $2 million included within interest expense, net on the unaudited consolidated statement of operations. Series 2024-1 Variable Funding Securitization Senior Notes In July 2024, the Co-Issuers issued Series 2024-1 Variable Funding Senior Notes, Class A-1 (the “2024 VFN”) in the revolving amount of $400 million. The 2024 VFN have a final legal maturity date in October 2054. The commitment under the 2024 VFN is set to expire in October 2029, with the option of two one-year extensions. The 2024 VFN are secured by substantially all assets of the Co-Issuers and are guaranteed by the Co-Issuers and each of their respective subsidiaries. Borrowings incur interest at the Base Rate plus an applicable margin or SOFR plus an applicable margin. As of September 28, 2024, there were no amounts outstanding under the 2024 VFN and $26 million of outstanding letters of credit which reduced the borrowing availability under the 2024 VFN. Driven Holdings Revolving Credit Facility In May 2021, Driven Holdings, LLC, (the “Borrower”) a Delaware limited liability company and indirect wholly-owned subsidiary of Driven Brands Holdings Inc., entered into a credit agreement to secure a revolving line of credit with a group of financial institutions (the “Revolving Credit Facility”), which provides for an aggregate amount of up to $300 million, and has a maturity date in May 2026 (the “Credit Agreement”). In June 2023, the Credit Agreement was amended pursuant to which as of July 2023, borrowings will incur interest at the Base Rate plus an applicable margin or SOFR plus an applicable term adjustment. The Revolving Credit Facility also includes periodic commitment fees based on the available unused balance and a quarterly administrative fee. There was $223 million outstanding on the Revolving Credit Facility as of September 28, 2024 with $46 million of borrowings and $71 million of repayments made during the nine months ended September 28, 2024. The Company’s debt agreements are subject to certain quantitative and qualitative covenants. As of September 28, 2024, the Company and its subsidiaries were in material compliance with such covenants.

Leases

Leases	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Leases	Leases During the nine months ended September 28, 2024, the Company sold 12 maintenance properties in various locations throughout the U.S. for a total of $17 million. During the nine months ended September 30, 2023, the Company sold 10 maintenance and 38 car wash properties in various locations throughout the U.S. for a total of $171 million. Concurrently with the closing of these sales, the Company entered into various operating lease agreements pursuant to which the Company leased back the properties. These lease agreements each have an initial term of 16 to 20 years. The Company does not include option periods in its determination of the lease term unless renewals are deemed reasonably certain to be exercised. The Company recorded an operating lease right-of-use asset and operating lease liability of $13 million and $13 million, respectively, as of September 28, 2024, and $132 million and $132 million, respectively, as of September 30, 2023 related to these lease arrangements. The Company recorded gains of $2 million and $5 million for the three and nine months ended September 28, 2024, respectively, and a loss of less than $1 million and a gain of $25 million for the three and nine months ended September 30, 2023, respectively. Supplemental cash flow information related to the Company’s lease arrangements for the nine months ended September 28, 2024 and September 30, 2023, respectively, was as follows: Nine Months Ended (in thousands) September 28, 2024 September 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ 127,495 $ 108,232 Operating cash flows used in finance leases 150 866 Financing cash flows used in finance leases 297 1,056
Leases	Leases During the nine months ended September 28, 2024, the Company sold 12 maintenance properties in various locations throughout the U.S. for a total of $17 million. During the nine months ended September 30, 2023, the Company sold 10 maintenance and 38 car wash properties in various locations throughout the U.S. for a total of $171 million. Concurrently with the closing of these sales, the Company entered into various operating lease agreements pursuant to which the Company leased back the properties. These lease agreements each have an initial term of 16 to 20 years. The Company does not include option periods in its determination of the lease term unless renewals are deemed reasonably certain to be exercised. The Company recorded an operating lease right-of-use asset and operating lease liability of $13 million and $13 million, respectively, as of September 28, 2024, and $132 million and $132 million, respectively, as of September 30, 2023 related to these lease arrangements. The Company recorded gains of $2 million and $5 million for the three and nine months ended September 28, 2024, respectively, and a loss of less than $1 million and a gain of $25 million for the three and nine months ended September 30, 2023, respectively. Supplemental cash flow information related to the Company’s lease arrangements for the nine months ended September 28, 2024 and September 30, 2023, respectively, was as follows: Nine Months Ended (in thousands) September 28, 2024 September 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ 127,495 $ 108,232 Operating cash flows used in finance leases 150 866 Financing cash flows used in finance leases 297 1,056

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation The Company granted new awards during the three months ended September 28, 2024, consisting of 596,700 restricted stock units (“RSUs”) and 139,684 performance stock units (“PSUs”). The Company granted new awards during the nine months ended September 28, 2024 including 1,548,230 RSUs and 1,215,468 PSUs. Awards are eligible to vest provided that the employee remains in continuous service on each vesting date. The RSUs vest ratably each year on the anniversary date generally over a two The fair value of the total RSUs, performance-based PSUs, and market-based PSUs granted during the three months ended September 28, 2024 were $8 million, $1 million, and $1 million, respectively. The fair value of the total RSUs, performance-based PSUs, and market-based PSUs granted during the nine months ended September 28, 2024 were $21 million, $10 million, and $9 million, respectively. The Company based the fair value of the RSUs and performance-based PSUs on the Company’s stock price on the grant date. The range of assumptions used for issued PSUs with a market condition valued using the Monte Carlo model were as follows: Nine Months Ended September 28, 2024 September 30, 2023 Annual dividend yield —% —% Expected term (years) 2.4 - 2.8 2.6 - 2.8 Risk-free interest rate 3.89% - 4.65% 3.65% - 4.51% Expected volatility 49.2% - 54.1% 37.9% - 38.8% Correlation to the index peer group 42.6% - 49.2% 60.2% - 60.3% The Company recorded $13 million and $36 million of share-based compensation expense during the three and nine months ended September 28, 2024, respectively, and $3 million and $10 million during the three and nine months ended September 30, 2023, respectively, within selling, general, and administrative expenses on the unaudited consolidated statements of operations. The increase in share-based compensation expense primarily relates to the modification of pre-IPO awards in the fourth quarter of 2023.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
(Loss) Earnings Per Share	(Loss) Earnings Per Share The Company calculates basic and diluted (loss) earnings per share using the two-class method. The following table sets forth the computation of basic and diluted earnings per share attributable to common shareholders: Three Months Ended Nine Months Ended (in thousands, except per share amounts) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Basic (loss) earnings per share: Net (loss) income $ (14,947) $ (799,311) $ 19,473 $ (731,813) Less: Net (loss) income attributable to participating securities, basic (316) (16,670) 412 (15,354) Net (loss) income after participating securities, basic (14,631) (782,641) 19,061 (716,459) Weighted-average common shares outstanding 159,804 162,398 159,743 162,698 Basic (loss) earnings per share $ (0.09) $ (4.82) $ 0.12 $ (4.40) Three Months Ended Nine Months Ended (in thousands, except per share amounts) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Diluted (loss) earnings per share: Net (loss) income $ (14,947) $ (799,311) $ 19,473 $ (731,813) Less: Net (loss) income attributable to participating securities, diluted (60) (15,051) 78 (13,753) Net (loss) income after participating securities, diluted $ (14,887) $ (784,260) $ 19,395 $ (718,060) Weighted-average common shares outstanding 159,804 162,398 159,743 162,698 Dilutive effect of share-based awards — — 970 — Weighted-average common shares outstanding, as adjusted 159,804 162,398 160,713 162,698 Diluted (loss) earnings per share $ (0.09) $ (4.83) $ 0.12 $ (4.41) Basic (loss) earnings per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding for the period. In addition, the Company’s participating securities are related to certain restricted stock awards issued to Section 16 officers which include non-forfeitable dividend rights. The Company had performance awards that are contingent on performance conditions which have not yet been met and therefore were excluded from the computation of weighted average shares of 1,887,842 shares for the three and nine months ended September 28, 2024 and 4,661,630 shares for the three and nine months ended September 30, 2023. For the three months ended September 28, 2024 and the three and nine months ended September 30, 2023, we had net losses from operations. As a result, no potentially dilutive securities were included in the denominator for computing diluted loss per share as their inclusion would be antidilutive. The following securities were not included in the computation of diluted shares outstanding because the effect would be antidilutive: Three Months Ended Nine Months Ended Number of securities (in thousands) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Restricted stock units 575 516 738 480 Stock Options 1,740 1,740 1,740 1,704 Total 2,315 2,256 2,478 2,184

Income Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s tax provision is comprised of the most recent estimated annual effective tax rate applied to year-to-date ordinary income before taxes. The tax impacts of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are recorded discretely in the interim period in which they occur. Income tax expense was $10 million for the three months ended September 28, 2024 compared to an income tax benefit of $152 million for the three months ended September 30, 2023. The effective income tax rate for the three months ended September 28, 2024 was (190.8%) primarily driven by the recognition of valuation allowances on income tax carryforwards in certain domestic jurisdictions that are not more likely than not to be realized, non-deductible share-based compensation, and state taxes related to pre-tax income compared to 16.0% for the three months ended September 30, 2023.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are subject to various lawsuits, administrative proceedings, audits, and claims. Some of these lawsuits purport to be class actions and/or seek substantial damages. We are required to record an accrual for litigation loss contingencies that are both probable and reasonably estimable. Management regularly assesses our insurance deductibles, analyzes litigation information with our attorneys, and evaluates our loss experience in connection with pending legal proceedings. We record our best estimate of a loss when the loss is considered probable and the amount of such loss can be reasonably estimated. When a loss is probable and there is a range of estimated loss with no best estimate within the range, we record the minimum estimated liability related to the lawsuit or claim. As additional information becomes available, we reassess the potential liability and revise our accruals, if necessary. Legal fees and expenses associated with the defense of all of our litigation are expensed as such fees and expenses are incurred. Because of uncertainties related to the resolution of lawsuits and claims, the ultimate outcome may differ materially from our estimates. Genesee County Employees’ Retirement System v. Driven Brands Holdings Inc., et al. – On December 22, 2023, Genesee County Employees’ Retirement System filed a putative class action lawsuit in the U.S. District Court for the Western District of North Carolina (the “Court”) against the Company as well as a current and a former Company executive (the “Individual Defendants”) alleging violations of Section 10(b) and Rule 10b-5 of the Exchange Act by the Company, as well as violations of Section 20(a) of the Exchange Act by the Individual Defendants. Genesee County Employees’ Retirement System, Oakland County Employees’ Retirement System, and Oakland County Voluntary Employees’ Beneficiary Association (collectively the “Michigan Funds”) moved for appointment as lead plaintiffs. The Michigan Funds purport to represent a class of stockholders who purchased Company shares between October 27, 2021 and August 1, 2023. On May 31, 2024, the Court appointed the Michigan Funds as lead plaintiffs. On August 13, 2024, the Michigan Funds filed an amended complaint and on October 14, 2024, the Company filed a motion to dismiss the amended complaint. The Company disputes the allegations of wrongdoing and intends to vigorously defend against the action. No assessment as to the likelihood or range of any potential adverse outcome has been made as of the date of this filing. Other than the matter described above, as of September 28, 2024, there are no current proceedings or litigation matters involving the Company or its property that we believe would have a material adverse effect on our consolidated financial position or cash flows, although they could have a material adverse effect on our operating results for a particular reporting period.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (14,947)	$ (799,311)	$ 19,473	$ (731,813)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Fiscal Year	Fiscal Year The Company operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the last Saturday in December and fiscal quarters ending on the 13th Saturday of each quarter (or 14th Saturday when applicable with respect to the fourth fiscal quarter). The three and nine months ended September 28, 2024 and September 30, 2023 each consisted of 13 weeks and 39 weeks, respectively. The Car Wash segment is consolidated based on a calendar month end.
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In the opinion of management, the unaudited interim financial data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results of operations, balance sheet, cash flows, and shareholders’/members’ equity for the interim periods presented. The adjustments include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements as of and for the year ended December 30, 2023. Certain information and note disclosures normally included in the unaudited financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The results of operations for the three and nine months ended September 28, 2024 may not be indicative of the results to be expected for any other interim period or the year ending December 28, 2024. The nine months ended September 28, 2024 include an adjustment to the unaudited consolidated balance sheet and consolidated statement of operations that originated in the prior year. The adjustment decreased current assets and increased selling, general, and administrative expenses by $3.7 million. The Company evaluated the materiality of the adjustment on prior period financial statements, recorded the adjustment in the current period, and concluded the effect of the adjustment was immaterial to both the current and prior financial statements.
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 in the consolidated financial statements and the related notes to the consolidated financial statements. Significant items that are subject to estimates and assumptions include, but are not limited to, valuation of intangible assets and goodwill; income taxes; allowances for credit losses; valuation of derivatives; self-insurance claims; and share-based compensation. Management evaluates its estimates on an ongoing basis and may employ outside experts to assist in its evaluations. Changes in such estimates, based on historical experience, current conditions, and various other additional information, may affect amounts reported in future periods. Actual results could differ due to uncertainty inherent in the nature of these estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial assets and liabilities are categorized, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to the quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. Observable market data, when available, is required to be used in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; or Level 3: Unobservable inputs for the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures. The standard enhances segment disclosure requirements of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) to assist in understanding how segment expenses and operating results are evaluated. The new standard does not change the definition or aggregation of operating segments. The standard also expands the interim disclosure requirements on a retrospective basis. This ASU is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures. This ASU improves the transparency of income tax disclosures, including consistent categories and greater disaggregation of information in the tax rate reconciliation as well as disaggregation of income taxes paid by jurisdiction. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis as of September 28, 2024 and December 30, 2023 are summarized as follows: Items Measured at Fair Value at September 28, 2024 (in thousands) Level 1 Level 2 Total Derivative assets, recorded in other assets $ — $ 1,464 $ 1,464 Derivative liabilities, recorded in accrued expenses and other liabilities — 247 247 Items Measured at Fair Value at December 30, 2023 (in thousands) Level 1 Level 2 Total Derivative assets, recorded in other assets — 285 285 Derivative liabilities, recorded in accrued expenses and other liabilities — 493 493
Schedule of Carrying Value and Estimated Fair Value of Total Long-Term Debt	The carrying value and estimated fair value of total long-term debt were as follows: September 28, 2024 December 30, 2023 (in thousands) Carrying value Estimated fair value Carrying value Estimated fair value Long-term debt $ 2,802,419 $ 2,673,945 $ 2,977,996 $ 2,800,011

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Estimated Purchase Price Allocation	The provisional amounts for assets acquired and liabilities assumed for the 2023 acquisitions are as follows: 2023 Maintenance Segment (in thousands) Maintenance Assets: Operating lease right-of-use assets $ 2,678 Property and equipment, net 3,805 Deferred tax asset 10 Assets acquired 6,493 Liabilities: Accrued expenses and other liabilities 179 Operating lease liabilities 2,476 Total liabilities assumed 2,655 Cash consideration, net of cash acquired 7,206 Deferred consideration 390 Total consideration, net of cash acquired $ 7,596 Goodwill $ 3,759 2023 Car Wash Segment (in thousands) Car Wash Assets: Operating lease right-of-use assets $ 1,249 Property and equipment, net 11,181 Assets acquired 12,430 Liabilities: Accrued expenses and other liabilities 11 Deferred tax liability 6 Operating lease liabilities 1,220 Total liabilities assumed 1,237 Cash consideration, net of cash acquired 15,293 Deferred consideration 25 Total consideration, net of cash acquired $ 15,318 Goodwill $ 4,125 2023 Paint, Collision & Glass Segment (in thousands) Paint, Collision & Glass Assets: Inventory $ 35 Property and equipment, net 667 Deferred tax asset 51 Assets acquired 753 Cash consideration, net of cash acquired 4,947 Deferred consideration 695 Total Consideration, net of cash acquired $ 5,642 Goodwill $ 4,889

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Schedule of Segment Results	Segment results for the three and nine months ended September 28, 2024 and September 30, 2023 are as follows: Three Months Ended September 28, 2024 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 14,699 $ — $ 25,095 $ 9,681 $ — $ 49,475 Company-operated store sales 231,050 90,451 65,380 1,251 — 388,132 Independently-operated store sales — 49,959 — — — 49,959 Advertising fund contributions — — — — 26,823 26,823 Supply and other revenue 32,438 1,765 18,477 41,286 (16,676) 77,290 Total revenue $ 278,187 $ 142,175 $ 108,952 $ 52,218 $ 10,147 $ 591,679 Segment Adjusted EBITDA $ 96,666 $ 25,563 $ 34,703 $ 22,467 $ (39,144) $ 140,255 Three Months Ended September 30, 2023 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 14,566 $ — $ 23,799 $ 8,997 $ — $ 47,362 Company-operated store sales 204,460 98,132 85,207 1,242 — 389,041 Independently-operated store sales — 43,582 — — — 43,582 Advertising fund contributions — — — — 27,121 27,121 Supply and other revenue 25,333 1,099 20,408 45,695 (18,607) 73,928 Total revenue $ 244,359 $ 142,813 $ 129,414 $ 55,934 $ 8,514 $ 581,034 Segment Adjusted EBITDA $ 85,483 $ 20,494 $ 32,545 $ 22,396 $ (37,496) $ 123,422 Nine Months Ended September 28, 2024 (in thousands) Maintenance Car Wash Paint, Platform Services Corporate Total Franchise royalties and fees $ 45,917 $ — $ 74,202 $ 24,430 $ — $ 144,549 Company-operated store sales 682,730 275,889 195,412 3,238 — 1,157,269 Independently-operated store sales — 163,286 — — — 163,286 Advertising fund contributions — — — — 75,804 75,804 Supply and other revenue 89,176 4,625 57,751 139,617 (56,606) 234,563 Total net revenue $ 817,823 $ 443,800 $ 327,365 $ 167,285 $ 19,198 $ 1,775,471 Segment Adjusted EBITDA $ 291,037 $ 88,469 $ 100,695 $ 67,649 $ (122,156) $ 425,694 Nine Months Ended September 30, 2023 (in thousands) Maintenance Car Wash Paint, Platform Corporate Total Franchise royalties and fees $ 41,224 $ — $ 74,627 $ 24,831 $ — $ 140,682 Company-operated store sales 605,393 302,193 248,796 3,303 — 1,159,685 Independently-operated store sales — 157,647 — — — 157,647 Advertising fund contributions — — — — 73,547 73,547 Supply and other revenue 67,737 4,708 59,952 137,171 (50,777) 218,791 Total net revenue $ 714,354 $ 464,548 $ 383,375 $ 165,305 $ 22,770 $ 1,750,352 Segment Adjusted EBITDA $ 242,528 $ 101,303 $ 109,052 $ 61,923 $ (119,149) $ 395,657
Schedule of Reconciliation of Segment Adjusted EBITDA to income Before Taxes	The reconciliations of (Loss) income before taxes to Segment Adjusted EBITDA for the three and nine months ended September 28, 2024 and September 30, 2023 are as follows: Three Months Ended Nine Months Ended (in thousands) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 (Loss) income before taxes $ (5,140) $ (951,129) $ 53,315 $ (852,385) Depreciation and amortization 43,357 45,639 131,219 129,256 Interest expense, net 43,677 41,292 119,245 120,304 Acquisition related costs (a) (606) 1,667 1,459 7,264 Non-core items and project costs, net (b) 6,426 1,486 16,263 6,113 Store opening costs 1,476 1,372 3,679 3,774 Cloud computing amortization (c) 1,022 991 3,436 991 Share-based compensation expense (d) 12,798 2,681 35,641 9,730 Foreign currency transaction loss, net (e) 765 2,980 5,767 3 Goodwill impairment (f) — 850,970 — 850,970 Asset sale leaseback (gain) loss,net, impairment and closed store expenses (g) 36,275 125,473 55,465 119,637 Loss on debt extinguishment (h) 205 — 205 — Segment Adjusted EBITDA $ 140,255 $ 123,422 $ 425,694 $ 395,657 (a) Consists of acquisition costs as reflected within the unaudited consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. We expect to incur similar costs in connection with other acquisitions in the future and, under GAAP, such costs relating to acquisitions are expensed as incurred. (b) Consists of discrete items and project costs, including third party consulting, professional, and legal fees associated with strategic transformation initiatives as well as non-recurring payroll-related costs. (c) Includes non-cash amortization expenses relating cloud computing arrangements. (d) Represents non-cash share-based compensation expense. (e) Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of our intercompany loans as well as gains and losses on cross currency swaps and forward contracts. (f) Relates to a goodwill impairment within the Car Wash segment. Refer to Note 6 for additional information. (g) Relates to (gains) losses, net on sale leasebacks, impairment of certain fixed assets and operating lease right-of-use assets related to closed and underperforming locations, assets held for sale, and lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates. Refer to Note 6 for additional information. (h) Represents charges incurred related to the Company’s partial repayment of Senior Secured Notes in conjunction with the sale of its Canadian distribution business.

Assets Held For Sale and Impa_2

Assets Held For Sale and Impairments (Tables)	9 Months Ended
	Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Assets Held-for-Sale	The changes in assets held for sale were as follows: (in thousands) Balance at December 30, 2023 $ 301,229 Additions 78,868 Impairments (40,926) Sales and disposals (153,186) Balance at September 28, 2024 $ 185,985

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Obligations	The Company’s long-term debt obligations consist of the following: (in thousands) September 28, 2024 December 30, 2023 Series 2018-1 Securitization Senior Notes, Class A-2 $ — $ 259,188 Series 2019-1 Securitization Senior Notes, Class A-2 275,926 285,000 Series 2019-2 Securitization Senior Notes, Class A-2 254,945 263,313 Series 2020-1 Securitization Senior Notes, Class A-2 163,519 168,875 Series 2020-2 Securitization Senior Notes, Class A-2 422,673 436,500 Series 2021-1 Securitization Senior Notes, Class A-2 425,966 439,875 Series 2022-1 Securitization Senior Notes, Class A-2 349,068 360,438 Series 2024-1 Securitization Senior Notes, Class A-2 274,313 — Term Loan Facility 390,000 491,250 Revolving Credit Facility 223,000 248,000 Other debt (a) 23,009 25,557 Total debt 2,802,419 2,977,996 Less: unamortized debt issuance costs (36,975) (34,511) Less: current portion of long-term debt (32,872) (32,673) Total long-term debt, net $ 2,732,572 $ 2,910,812 (a)

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Schedule of Cash Flow Related to Lease Arrangements	Supplemental cash flow information related to the Company’s lease arrangements for the nine months ended September 28, 2024 and September 30, 2023, respectively, was as follows: Nine Months Ended (in thousands) September 28, 2024 September 30, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ 127,495 $ 108,232 Operating cash flows used in finance leases 150 866 Financing cash flows used in finance leases 297 1,056

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Valuation Assumptions	The range of assumptions used for issued PSUs with a market condition valued using the Monte Carlo model were as follows: Nine Months Ended September 28, 2024 September 30, 2023 Annual dividend yield —% —% Expected term (years) 2.4 - 2.8 2.6 - 2.8 Risk-free interest rate 3.89% - 4.65% 3.65% - 4.51% Expected volatility 49.2% - 54.1% 37.9% - 38.8% Correlation to the index peer group 42.6% - 49.2% 60.2% - 60.3%

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings (Loss) Per Share Attributable to Common Shareholders	The following table sets forth the computation of basic and diluted earnings per share attributable to common shareholders: Three Months Ended Nine Months Ended (in thousands, except per share amounts) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Basic (loss) earnings per share: Net (loss) income $ (14,947) $ (799,311) $ 19,473 $ (731,813) Less: Net (loss) income attributable to participating securities, basic (316) (16,670) 412 (15,354) Net (loss) income after participating securities, basic (14,631) (782,641) 19,061 (716,459) Weighted-average common shares outstanding 159,804 162,398 159,743 162,698 Basic (loss) earnings per share $ (0.09) $ (4.82) $ 0.12 $ (4.40) Three Months Ended Nine Months Ended (in thousands, except per share amounts) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Diluted (loss) earnings per share: Net (loss) income $ (14,947) $ (799,311) $ 19,473 $ (731,813) Less: Net (loss) income attributable to participating securities, diluted (60) (15,051) 78 (13,753) Net (loss) income after participating securities, diluted $ (14,887) $ (784,260) $ 19,395 $ (718,060) Weighted-average common shares outstanding 159,804 162,398 159,743 162,698 Dilutive effect of share-based awards — — 970 — Weighted-average common shares outstanding, as adjusted 159,804 162,398 160,713 162,698 Diluted (loss) earnings per share $ (0.09) $ (4.83) $ 0.12 $ (4.41)
Schedule of Antidilutive Shares	The following securities were not included in the computation of diluted shares outstanding because the effect would be antidilutive: Three Months Ended Nine Months Ended Number of securities (in thousands) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Restricted stock units 575 516 738 480 Stock Options 1,740 1,740 1,740 1,704 Total 2,315 2,256 2,478 2,184

Description of Business (Detail

Description of Business (Details) $ in Thousands	Sep. 28, 2024 USD ($) country franchise_location state	Jan. 31, 2024 USD ($)	Dec. 30, 2023 USD ($)	Jan. 14, 2021
Subsidiary, Sale of Stock [Line Items]
Number of locations franchised, independently-operated, and company-operated | franchise_location	5,100
Number of states in which entity operates | state	49
Number of countries across Europe in which entity operates | country	13
Income tax receivable liability, current	$ 0		$ 56,001
Income tax receivable liability, noncurrent	$ 133,611		$ 117,915
Initial payment		$ 38,000
Pre-IPO Stockholders
Subsidiary, Sale of Stock [Line Items]
Income taxes receivable (as a percent)				0.85

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023	Aug. 31, 2023
Subsidiary, Sale of Stock [Line Items]
Selling, general, and administrative expenses	$ (149,766,000)	$ (123,012,000)	$ (387,291,000)	$ (332,155,000)
Current assets	(747,175,000)		(747,175,000)		$ (821,107,000)
Stock repurchase program, authorized amount						$ 50,000,000
Shares repurchased (in shares)		3,601,694		3,601,694
Share repurchase		$ 50,000,000		$ 50,000,000
Shares acquired average cost (in dollars per share)		$ 13.87		$ 13.87
Revision of Prior Period, Adjustment
Subsidiary, Sale of Stock [Line Items]
Selling, general, and administrative expenses			3,700,000
Current assets	$ 3,700,000		$ 3,700,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Other assets
Subsidiary, Sale of Stock [Line Items]
Derivative assets, recorded in other assets	$ 1,464	$ 285
Accrued expenses and other liabilities
Subsidiary, Sale of Stock [Line Items]
Derivative liabilities, recorded in accrued expenses and other liabilities	247	493
Level 1 | Other assets
Subsidiary, Sale of Stock [Line Items]
Derivative assets, recorded in other assets	0	0
Level 1 | Accrued expenses and other liabilities
Subsidiary, Sale of Stock [Line Items]
Derivative liabilities, recorded in accrued expenses and other liabilities	0	0
Level 2 | Other assets
Subsidiary, Sale of Stock [Line Items]
Derivative assets, recorded in other assets	1,464	285
Level 2 | Accrued expenses and other liabilities
Subsidiary, Sale of Stock [Line Items]
Derivative liabilities, recorded in accrued expenses and other liabilities	$ 247	$ 493

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Carrying Value and Estimated Fair Value of Total Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Carrying value
Subsidiary, Sale of Stock [Line Items]
Long-term debt	$ 2,802,419	$ 2,977,996
Estimated fair value
Subsidiary, Sale of Stock [Line Items]
Long-term debt	$ 2,673,945	$ 2,800,011

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) store acquisition maintenance_site	Sep. 30, 2023 USD ($) car_wash_site acquisition maintenance_site	Dec. 30, 2023 USD ($)
Business Acquisition [Line Items]
Cash used in business acquisitions, net of cash acquired			$ 2,759	$ 53,641
Acquisition related costs	$ (606)	$ 1,667	1,459	7,264
Total consideration	17,000	171,000	17,000	171,000
Goodwill	1,427,467		1,427,467		$ 1,455,946
Net gain on sale	2,000	(1,000)	5,000	$ 25,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | PH Vitres D’Auto Brand
Business Acquisition [Line Items]
Total consideration	78,000		78,000
Goodwill	13,000		13,000
Net gain on sale	3,000		3,000
Proceeds from issuance or sale of equity	47,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | CARSTAR Franchise
Business Acquisition [Line Items]
Total consideration	18,000		18,000
Net gain on sale			$ 6,000
Number of stores sold | store			9
Goodwill	9,000		$ 9,000
Maximum
Business Acquisition [Line Items]
Deferred consideration payment period			1 year
2024 Acquisitions | Maintenance
Business Acquisition [Line Items]
Number of businesses acquired | acquisition			1
Number of maintenance sites | maintenance_site			2
Cash used in business acquisitions, net of cash acquired			$ 2,000
2024 Acquisitions | Car Wash
Business Acquisition [Line Items]
Number of businesses acquired | acquisition			1
Number of maintenance sites | maintenance_site			1
2023 Acquisitions | Maintenance
Business Acquisition [Line Items]
Number of businesses acquired | acquisition				5
Number of maintenance sites | maintenance_site				5
Cash used in business acquisitions, net of cash acquired				$ 8,000
2023 Acquisitions | Car Wash
Business Acquisition [Line Items]
Number of businesses acquired | acquisition				3
Cash used in business acquisitions, net of cash acquired				$ 15,000
Number of car wash sites | car_wash_site				4
2023 Acquisitions | Paint, Collision & Glass
Business Acquisition [Line Items]
Number of businesses acquired | acquisition				2
Cash used in business acquisitions, net of cash acquired				$ 6,000
Number of paint, collision and glass sites | maintenance_site				2
2022 and 2021 Acquisitions
Business Acquisition [Line Items]
Consideration liability	2,000	9,000	$ 2,000	$ 9,000
Payment of contingent consideration related to acquisitions			1,000	27,000
Business Acquisition
Business Acquisition [Line Items]
Acquisition related costs	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Estimated Purchase Price Allocation (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Liabilities:
Cash consideration, net of cash acquired	$ 2,759	$ 53,641
Goodwill	$ 1,427,467		$ 1,455,946
Maintenance
Assets:
Operating lease right-of-use assets		2,678
Property and equipment, net		3,805
Deferred tax asset		10
Assets acquired		6,493
Liabilities:
Accrued expenses and other liabilities		179
Operating lease liabilities		2,476
Total liabilities assumed		2,655
Cash consideration, net of cash acquired		7,206
Deferred consideration		390
Total consideration, net of cash acquired		7,596
Goodwill		3,759
Car Wash
Assets:
Operating lease right-of-use assets		1,249
Property and equipment, net		11,181
Assets acquired		12,430
Liabilities:
Accrued expenses and other liabilities		11
Deferred tax liability		6
Operating lease liabilities		1,220
Total liabilities assumed		1,237
Cash consideration, net of cash acquired		15,293
Deferred consideration		25
Total consideration, net of cash acquired		15,318
Goodwill		4,125
Paint, Collision & Glass
Assets:
Property and equipment, net		667
Deferred tax asset		51
Inventory		35
Assets acquired		753
Liabilities:
Cash consideration, net of cash acquired		4,947
Deferred consideration		695
Total consideration, net of cash acquired		5,642
Goodwill		$ 4,889

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Revenue from Contract with Customer [Abstract]
Capitalized costs to obtain a contract	$ 7		$ 7		$ 6
Costs recognized in period (less than)	1	$ 1	1	$ 1
Contract liabilities	32		32		$ 31
Revenue recognized (less than, for the three months ended September 30, 2024)	$ 1	$ 1	$ 2	$ 4

Segment Information - Schedule

Segment Information - Schedule of Segment Results (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total net revenue	$ 591,679	$ 581,034	$ 1,775,471	$ 1,750,352
Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	49,475	47,362	144,549	140,682
Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	388,132	389,041	1,157,269	1,159,685
Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	49,959	43,582	163,286	157,647
Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	26,823	27,121	75,804	73,547
Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	77,290	73,928	234,563	218,791
Operating Segments | Maintenance
Segment Reporting Information [Line Items]
Total net revenue	278,187	244,359	817,823	714,354
Segment Adjusted EBITDA	96,666	85,483	291,037	242,528
Operating Segments | Maintenance | Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	14,699	14,566	45,917	41,224
Operating Segments | Maintenance | Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	231,050	204,460	682,730	605,393
Operating Segments | Maintenance | Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Maintenance | Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Maintenance | Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	32,438	25,333	89,176	67,737
Operating Segments | Car Wash
Segment Reporting Information [Line Items]
Total net revenue	142,175	142,813	443,800	464,548
Segment Adjusted EBITDA	25,563	20,494	88,469	101,303
Operating Segments | Car Wash | Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Car Wash | Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	90,451	98,132	275,889	302,193
Operating Segments | Car Wash | Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	49,959	43,582	163,286	157,647
Operating Segments | Car Wash | Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Car Wash | Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	1,765	1,099	4,625	4,708
Operating Segments | Paint, Collision & Glass
Segment Reporting Information [Line Items]
Total net revenue	108,952	129,414	327,365	383,375
Segment Adjusted EBITDA	34,703	32,545	100,695	109,052
Operating Segments | Paint, Collision & Glass | Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	25,095	23,799	74,202	74,627
Operating Segments | Paint, Collision & Glass | Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	65,380	85,207	195,412	248,796
Operating Segments | Paint, Collision & Glass | Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Paint, Collision & Glass | Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Paint, Collision & Glass | Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	18,477	20,408	57,751	59,952
Operating Segments | Platform Services
Segment Reporting Information [Line Items]
Total net revenue	52,218	55,934	167,285	165,305
Segment Adjusted EBITDA	22,467	22,396	67,649	61,923
Operating Segments | Platform Services | Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	9,681	8,997	24,430	24,831
Operating Segments | Platform Services | Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	1,251	1,242	3,238	3,303
Operating Segments | Platform Services | Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Platform Services | Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Operating Segments | Platform Services | Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	41,286	45,695	139,617	137,171
Corporate and Other
Segment Reporting Information [Line Items]
Total net revenue	10,147	8,514	19,198	22,770
Segment Adjusted EBITDA	(39,144)	(37,496)	(122,156)	(119,149)
Corporate and Other | Franchise royalties and fees
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Corporate and Other | Company-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Corporate and Other | Independently-operated store sales
Segment Reporting Information [Line Items]
Total net revenue	0	0	0	0
Corporate and Other | Advertising fund contributions
Segment Reporting Information [Line Items]
Total net revenue	26,823	27,121	75,804	73,547
Corporate and Other | Supply and other revenue
Segment Reporting Information [Line Items]
Total net revenue	(16,676)	(18,607)	(56,606)	(50,777)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 140,255	$ 123,422	$ 425,694	$ 395,657

Segment Information - Schedul_2

Segment Information - Schedule of Reconciliation of Segment Adjusted EBITDA to Income Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Depreciation and amortization			$ 131,219	$ 129,256
Interest expense, net	$ 43,677	$ 41,292	119,245	120,304
Acquisition related costs	(606)	1,667	1,459	7,264
Store opening costs	1,476	1,372	3,679	3,774
Cloud computing amortization			3,436	991
Goodwill impairment	0	850,970	0	850,970
Loss on debt extinguishment	205	0	205	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
(Loss) income before taxes	(5,140)	(951,129)	53,315	(852,385)
Depreciation and amortization	43,357	45,639	131,219	129,256
Interest expense, net	43,677	41,292	119,245	120,304
Acquisition related costs	(606)	1,667	1,459	7,264
Non-core items and project costs, net	6,426	1,486	16,263	6,113
Store opening costs	1,476	1,372	3,679	3,774
Cloud computing amortization	1,022	991	3,436	991
Share-based compensation expense	12,798	2,681	35,641	9,730
Foreign currency transaction loss, net	765	2,980	5,767	3
Goodwill impairment	0	850,970	0	850,970
Asset sale leaseback (gain) loss, net impairment and closed store expenses	36,275	125,473	55,465	119,637
Loss on debt extinguishment	205	0	205	0
Segment Adjusted EBITDA	$ 140,255	$ 123,422	$ 425,694	$ 395,657

Assets Held For Sale and Impa_3

Assets Held For Sale and Impairments - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024 USD ($) store	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) store location	Sep. 30, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of stores closed | store	29		29
Impairment of property and equipment and right-of-use assets		$ 111,000		$ 111,000
Goodwill impairment	$ 0	850,970	$ 0	850,970
Additions			78,868
Impairments	11,000		40,926
Net gain on sale	2,000	(1,000)	$ 5,000	25,000
Car Wash
Schedule of Equity Method Investments [Line Items]
Goodwill impairment		$ 851,000		$ 851,000
Discontinued Operations, Held-for-Sale or Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Number of location | location			48
Net gain on sale	$ 1,000		$ 12,000

Assets Held For Sale and Impa_4

Assets Held For Sale and Impairments - Schedule of Assets Held-for-Sale (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2024	Sep. 28, 2024
Goodwill [Roll Forward]
Beginning balance		$ 301,229
Additions		78,868
Impairments	$ (11,000)	(40,926)
Sales and disposals		(153,186)
Ending balance	$ 185,985	$ 185,985

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Dec. 30, 2023
Debt Instrument [Line Items]
Total debt	$ 2,802,419	$ 2,977,996
Less: unamortized debt issuance costs	(36,975)	(34,511)
Less: current portion of long-term debt	(32,872)	(32,673)
Total long-term debt, net	2,732,572	2,910,812
Senior notes | Series 2018-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	0	259,188
Senior notes | Series 2019-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	275,926	285,000
Senior notes | Series 2019-2 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	254,945	263,313
Senior notes | Series 2020-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	163,519	168,875
Senior notes | Series 2020-2 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	422,673	436,500
Senior notes | Series 2021-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	425,966	439,875
Senior notes | Series 2022-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	349,068	360,438
Senior notes | Series 2024-1 Securitization Senior Notes, Class A-2
Debt Instrument [Line Items]
Total debt	274,313	0
Term Loan Facility
Debt Instrument [Line Items]
Total debt	390,000	491,250
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt	223,000	248,000
Other debt
Debt Instrument [Line Items]
Total debt	$ 23,009	$ 25,557

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)		1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 31, 2024 USD ($) extension_option	Jul. 31, 2024 USD ($)	Dec. 31, 2019 USD ($) extension_option	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2021 USD ($)
Debt Instrument [Line Items]
Interest expense, net				$ 43,677,000	$ 41,292,000	$ 119,245,000	$ 120,304,000
Total debt				2,802,419,000		2,802,419,000		$ 2,977,996,000
Proceeds from revolving lines of credit and short-term debt						46,000,000	335,000,000
Repayment of revolving lines of credit and short-term debt						71,000,000	$ 120,000,000
Series 2019-3 Variable Funding Senior Notes, Class A-1 | Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount			$ 115,000,000
Number of extension options | extension_option			3
Extension period (in years)			1 year
Series 2021-1 Variable Funding Senior Notes, Class A-1 | Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount									$ 135,000,000
Series 2024-1 2.791% Fixed Rate Senior Secured Notes, Class A-2 | Senior notes
Debt Instrument [Line Items]
Debt issued	$ 275,000,000	$ 275,000,000
Interest rate (as a percent)	6.372%	6.372%
Interest expense, net		$ 2,000,000
Series 2024-2 Variable Funding Senior Notes, Class A-1 | Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount	$ 400,000,000	$ 400,000,000
Number of extension options | extension_option	2
Extension period (in years)	1 year
Outstanding letters of credit				$ 26,000,000		$ 26,000,000
Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal amount										$ 300,000,000

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024 USD ($) maintenance_site	Sep. 30, 2023 USD ($)	Sep. 28, 2024 USD ($) maintenance_site	Sep. 30, 2023 USD ($)	Dec. 30, 2023 USD ($)	Sep. 30, 2023 maintenance_site	Sep. 30, 2023 car_wash_site
Lessee, Lease, Description [Line Items]
Number of car wash properties sold	12		12			10	38
Total consideration	$ 17,000	$ 171,000	$ 17,000	$ 171,000
Operating lease right-of-use assets	1,362,917		1,362,917		$ 1,389,316
Net gain (loss) on sale (less than, for the three months ended September 30, 2023)	2,000	(1,000)	5,000	25,000
March 2021 Operating Lease Agreements
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	13,000	132,000	13,000	132,000
Operating lease liability	$ 13,000	$ 132,000	$ 13,000	$ 132,000
Minimum | March 2021 Operating Lease Agreements
Lessee, Lease, Description [Line Items]
Lease term (in years)	16 years		16 years
Maximum | March 2021 Operating Lease Agreements
Lessee, Lease, Description [Line Items]
Lease term (in years)	20 years		20 years

Leases - Cash Flows Related to

Leases - Cash Flows Related to Lease Arrangements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	$ 127,495	$ 108,232
Operating cash flows used in finance leases	150	866
Financing cash flows used in finance leases	$ 297	$ 1,056

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 13,000	$ 3,000	$ 35,641	$ 9,730
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of granted new awards (in shares)	596,700		1,548,230
Grant-date fair value of PSUs granted	$ 8,000		$ 21,000
Restricted stock units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			2 years
Restricted stock units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			3 years
Performance stock units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of granted new awards (in shares)	139,684		1,215,468
Award vesting period (in years)			3 years
Performance stock units (PSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (as a percent)			0%
Performance stock units (PSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights (as a percent)			200%
Restricted stock award, performance based PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of PSUs granted	$ 1,000		$ 10,000
Restricted stock award, market-based PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value of PSUs granted	$ 1,000		$ 9,000

Share-based Compensation - Sche

Share-based Compensation - Schedule of Valuation Assumptions (Details) - Performance stock units	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual dividend yield	0%	0%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	2 years 4 months 24 days	2 years 7 months 6 days
Risk-free interest rate	3.89%	3.65%
Expected volatility	49.20%	37.90%
Correlation to the index peer group	42.60%	60.20%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	2 years 9 months 18 days	2 years 9 months 18 days
Risk-free interest rate	4.65%	4.51%
Expected volatility	54.10%	38.80%
Correlation to the index peer group	49.20%	60.30%

(Loss) Earnings Per Share - Sch

(Loss) Earnings Per Share - Schedule of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Basic (loss) earnings per share:
Net (loss) income	$ (14,947)	$ (799,311)	$ 19,473	$ (731,813)
Less: Net (loss) income attributable to participating securities, basic	(316)	(16,670)	412	(15,354)
Net (loss) income after participating securities, basic	$ (14,631)	$ (782,641)	$ 19,061	$ (716,459)
Weighted-average common shares outstanding (in shares)	159,804	162,398	159,743	162,698
Basic (loss) earnings per share (in dollars per share)	$ (0.09)	$ (4.82)	$ 0.12	$ (4.40)
Diluted (loss) earnings per share:
Net (loss) income	$ (14,947)	$ (799,311)	$ 19,473	$ (731,813)
Less: Net (loss) income attributable to participating securities, diluted	(60)	(15,051)	78	(13,753)
Net (loss) income after participating securities, diluted	$ (14,887)	$ (784,260)	$ 19,395	$ (718,060)
Weighted-average common shares outstanding (in shares)	159,804	162,398	159,743	162,698
Dilutive effect of share-based awards (in shares)	0	0	970	0
Weighted-average common shares outstanding, as adjusted (in shares)	159,804	162,398	160,713	162,698
Diluted (loss) earnings per share (in dollars per share)	$ (0.09)	$ (4.83)	$ 0.12	$ (4.41)

(Loss) Earnings Per Share - Nar

(Loss) Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Performance awards contingent on performance conditions which have not been met yet (in shares)	1,887,842	4,661,630	1,887,842	4,661,630

(Loss) Earnings Per Share - S_2

(Loss) Earnings Per Share - Schedule of Antidilutive Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,315	2,256	2,478	2,184
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	575	516	738	480
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,740	1,740	1,740	1,704

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 9,807	$ (151,818)	$ 33,842	$ (120,572)
Effective income tax rate	(190.80%)	16%	63.50%	14.10%