Krispy Kreme (DNUT) 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 01, 2023	Nov. 06, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 01, 2023
Document Transition Report	false
Entity File Number	001-40573
Entity Registrant Name	Krispy Kreme, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1701311
Entity Address, Address Line One	2116 Hawkins Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	800
Local Phone Number	457-4779
Title of 12(b) Security	Common stock, $0.01 par value per share
Entity Trading Symbol	DNUT
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		168,600,000
Entity Central Index Key	0001857154
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Total net revenues	$ 407,367	$ 377,522	$ 1,235,199	$ 1,125,299
Product and distribution costs	101,353	102,870	330,292	299,539
Operating expenses	195,380	177,592	575,953	520,260
Selling, general and administrative expense	68,305	54,801	192,355	160,266
Marketing expenses	12,478	10,995	32,101	32,369
Pre-opening costs	1,059	1,200	2,927	3,514
Other (income)/expenses, net	(1,102)	2,964	(6,051)	1,800
Depreciation and amortization expense	32,007	28,127	89,142	83,782
Operating (loss)/income	(2,113)	(1,027)	18,480	23,769
Interest expense, net	12,807	8,871	36,858	23,808
Other non-operating expense, net	971	1,648	3,031	2,083
Loss before income taxes	(15,891)	(11,546)	(21,409)	(2,122)
Income tax expense	24,367	294	17,121	5,668
Net loss	(40,258)	(11,840)	(38,530)	(7,790)
Net income attributable to noncontrolling interest	199	1,216	2,005	5,113
Net loss attributable to Krispy Kreme, Inc.	$ (40,457)	$ (13,056)	$ (40,535)	$ (12,903)
Net loss per share:
Common stock — Basic (in dollars per share)	$ (0.24)	$ (0.08)	$ (0.24)	$ (0.08)
Common stock — Diluted (in dollars per share)	$ (0.24)	$ (0.08)	$ (0.24)	$ (0.08)
Weighted average shares outstanding:
Basic (in shares)	168,224,000	167,431,000	168,183,000	167,353,000
Diluted (in shares)	168,224,000	167,431,000	168,183,000	167,353,000
Product sales
Total net revenues	$ 398,745	$ 370,216	$ 1,209,767	$ 1,102,045
Royalties and other revenues
Total net revenues	$ 8,622	$ 7,306	$ 25,432	$ 23,254

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Net loss		$ (40,258)	$ (11,840)	$ (38,530)	$ (7,790)
Other comprehensive (loss)/income, net of income taxes:
Foreign currency translation adjustment		(12,834)	(25,708)	7,552	(61,887)
Unrealized (loss)/income on cash flow hedges, net of income taxes (1)	[1]	(2,615)	7,692	(5,110)	24,798
Total other comprehensive (loss)/income		(15,449)	(18,016)	2,442	(37,089)
Comprehensive loss		(55,707)	(29,856)	(36,088)	(44,879)
Net income attributable to noncontrolling interest		199	1,216	2,005	5,113
Foreign currency translation adjustment attributable to noncontrolling interest		(148)	(1,283)	807	(2,186)
Total comprehensive income/(loss) attributable to noncontrolling interest		51	(67)	2,812	2,927
Comprehensive loss attributable to Krispy Kreme, Inc.		$ (55,758)	$ (29,789)	$ (38,900)	$ (47,806)
[1]Net of income tax benefit/(expense) of $0.9 million and $1.7 million for the quarter and three quarters ended October 1, 2023, respectively, and ($2.6 million) and ($8.3 million) for the quarter and three quarters ended October 2, 2022, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Statement of Comprehensive Income [Abstract]
Unrealized income on cash flow hedges, tax expense (benefit)	$ 0.9	$ (2.6)	$ 1.7	$ (8.3)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Current assets:
Cash and cash equivalents	$ 25,711	$ 35,371
Restricted cash	430	359
Accounts receivable, net	49,854	51,089
Inventories	35,063	46,239
Taxes receivable	17,886	18,263
Prepaid expense and other current assets	31,118	26,953
Total current assets	160,062	178,274
Property and equipment, net	517,528	472,358
Goodwill	1,092,000	1,087,908
Other intangible assets, net	949,463	966,088
Operating lease right of use asset, net	448,569	417,381
Other assets	19,581	26,528
Total assets	3,187,203	3,148,537
Current liabilities:
Current portion of long-term debt	43,492	40,034
Current operating lease liabilities	49,408	43,160
Accounts payable	178,725	225,276
Accrued liabilities	164,577	104,424
Structured payables	88,838	103,575
Total current liabilities	525,040	516,469
Long-term debt, less current portion	827,429	739,052
Noncurrent operating lease liabilities	441,732	412,759
Deferred income taxes, net	109,925	143,124
Other long-term obligations and deferred credits	34,067	38,258
Total liabilities	1,938,193	1,849,662
Commitments and contingencies
Shareholders’ equity:
Common stock, $0.01 par value; 300,000 shares authorized as of both October 1, 2023 and January 1, 2023; 168,594 and 168,137 shares issued and outstanding as of October 1, 2023 and January 1, 2023, respectively	1,686	1,681
Additional paid-in capital	1,437,488	1,426,105
Shareholder note receivable	(3,820)	(4,813)
Accumulated other comprehensive loss, net of income tax	(7,516)	(9,151)
Retained deficit	(275,698)	(217,490)
Total shareholders’ equity attributable to Krispy Kreme, Inc.	1,152,140	1,196,332
Noncontrolling interest	96,870	102,543
Total shareholders’ equity	1,249,010	1,298,875
Total liabilities and shareholders’ equity	$ 3,187,203	$ 3,148,537

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Oct. 01, 2023	Jan. 01, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	168,594	168,137
Common stock, shares outstanding (in shares)	168,594	168,137

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Shareholder Note Receivable	Foreign Currency Translation Adjustment	Unrealized (Loss)/Income on Cash Flow Hedges	Unrealized Loss on Employee Benefit Plans	Retained (Deficit)/Earnings	Noncontrolling Interest
Beginning balance (in shares) at Jan. 02, 2022			167,251
Beginning balance at Jan. 02, 2022		$ 1,335,655	$ 1,673	$ 1,415,185	$ (4,382)	$ 8,967	$ (11,001)	$ (444)	$ (178,409)	$ 104,066
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		6,458							4,002	2,456
Other comprehensive income/(loss), before reclassifications		13,058				1,334	11,724
Reclassification from AOCI		2,510					2,510
Capital contribution from shareholders, net of loans issued		240		(3)	243
Share-based compensation		5,041		5,041
Purchase of shares by noncontrolling interest		52			(58)					110
Dividends declared on common stock and equivalents		(5,855)							(5,855)
Distribution to noncontrolling interest		(1,362)			21					(1,383)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			46
Issuance of common stock upon settlement of RSUs, net of shares withheld		(390)		(390)
Other		(15)		(2)	(14)				1
Ending balance (in shares) at Apr. 03, 2022			167,297
Ending balance at Apr. 03, 2022		$ 1,355,392	$ 1,673	1,419,831	(4,190)	10,301	3,233	(444)	(180,261)	105,249
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Beginning balance (in shares) at Jan. 02, 2022			167,251
Beginning balance at Jan. 02, 2022		$ 1,335,655	$ 1,673	1,415,185	(4,382)	8,967	(11,001)	(444)	(178,409)	104,066
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(7,790)
Ending balance (in shares) at Oct. 02, 2022			167,437
Ending balance at Oct. 02, 2022		1,273,723	$ 1,674	1,422,850	(4,812)	(50,734)	13,798	(444)	(208,886)	100,277
Beginning balance (in shares) at Apr. 03, 2022			167,297
Beginning balance at Apr. 03, 2022		1,355,392	$ 1,673	1,419,831	(4,190)	10,301	3,233	(444)	(180,261)	105,249
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(2,408)							(3,849)	1,441
Other comprehensive income/(loss), before reclassifications		(36,502)				(36,610)	1,011			(903)
Reclassification from AOCI		1,861					1,861
Capital contribution from shareholders, net of loans issued		(267)		(31)	(236)
Share-based compensation		5,452		5,452
Purchase of shares by noncontrolling interest		358			(133)					491
Dividends declared on common stock and equivalents		(5,860)							(5,860)
Distribution to noncontrolling interest		(8,134)		(3,944)						(4,190)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			131
Issuance of common stock upon settlement of RSUs, net of shares withheld		(897)	$ 1	(898)
Other		(13)			(14)		1
Ending balance (in shares) at Jul. 03, 2022			167,428
Ending balance at Jul. 03, 2022		$ 1,308,982	$ 1,674	1,420,410	(4,573)	(26,309)	6,106	(444)	(189,970)	102,088
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Net (loss) income		$ (11,840)							(13,056)	1,216
Other comprehensive income/(loss), before reclassifications		(18,123)				(24,425)	7,585			(1,283)
Reclassification from AOCI		107					107
Capital contribution from shareholders, net of loans issued		(261)		(38)	(223)
Share-based compensation		2,825		2,825
Dividends declared on common stock and equivalents		(5,860)							(5,860)
Distribution to noncontrolling interest		(2,029)		(285)						(1,744)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			9
Issuance of common stock upon settlement of RSUs, net of shares withheld		(62)		(62)
Other		(16)			(16)
Ending balance (in shares) at Oct. 02, 2022			167,437
Ending balance at Oct. 02, 2022		$ 1,273,723	$ 1,674	1,422,850	(4,812)	(50,734)	13,798	(444)	(208,886)	100,277
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Beginning balance (in shares) at Jan. 01, 2023		168,137	168,137
Beginning balance at Jan. 01, 2023		$ 1,298,875	$ 1,681	1,426,105	(4,813)	(23,028)	14,251	(374)	(217,490)	102,543
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		1,644							(301)	1,945
Other comprehensive income/(loss), before reclassifications		10,311				11,200	(781)			(108)
Reclassification from AOCI		(2,186)					(2,186)
Share-based compensation		5,545		5,545
Dividends declared on common stock and equivalents	[1]	(5,884)							(5,884)
Distribution to noncontrolling interest		(1,139)								(1,139)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			39
Issuance of common stock upon settlement of RSUs, net of shares withheld		0	$ 1	(1)
Other		(16)			(17)				1
Ending balance (in shares) at Apr. 02, 2023			168,176
Ending balance at Apr. 02, 2023		$ 1,307,150	$ 1,682	1,431,649	(4,830)	(11,828)	11,284	(374)	(223,674)	103,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Beginning balance (in shares) at Jan. 01, 2023		168,137	168,137
Beginning balance at Jan. 01, 2023		$ 1,298,875	$ 1,681	1,426,105	(4,813)	(23,028)	14,251	(374)	(217,490)	102,543
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		$ (38,530)
Ending balance (in shares) at Oct. 01, 2023		168,594	168,594
Ending balance at Oct. 01, 2023		$ 1,249,010	$ 1,686	1,437,488	(3,820)	(16,283)	9,141	(374)	(275,698)	96,870
Beginning balance (in shares) at Apr. 02, 2023			168,176
Beginning balance at Apr. 02, 2023		1,307,150	$ 1,682	1,431,649	(4,830)	(11,828)	11,284	(374)	(223,674)	103,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		84							223	(139)
Other comprehensive income/(loss), before reclassifications		10,212				8,231	918			1,063
Reclassification from AOCI		(446)					(446)
Capital contribution from shareholders, net of loans issued		631		0	631
Share-based compensation		4,824		4,824
Dividends declared on common stock and equivalents		(5,889)							(5,889)
Distribution to noncontrolling interest		(10,107)		(4,176)	426	(1)				(6,357)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			8
Issuance of common stock upon settlement of RSUs, net of shares withheld		(147)		(147)
Other		(37)			(36)
Ending balance (in shares) at Jul. 02, 2023			168,184
Ending balance at Jul. 02, 2023		$ 1,306,275	$ 1,682	1,432,150	(3,809)	(3,598)	11,756	(374)	(229,340)	97,808
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Net (loss) income		$ (40,258)							(40,457)	199
Other comprehensive income/(loss), before reclassifications		(12,503)				(12,686)	331			(148)
Reclassification from AOCI		(2,946)					(2,946)
Share-based compensation		7,452		7,452
Dividends declared on common stock and equivalents	[1]	(5,901)							(5,901)
Distribution to noncontrolling interest		(1,637)		(649)						(988)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			410
Issuance of common stock upon settlement of RSUs, net of shares withheld		(1,462)	$ 4	(1,466)
Other		$ (10)		1	(11)	1				(1)
Ending balance (in shares) at Oct. 01, 2023		168,594	168,594
Ending balance at Oct. 01, 2023		$ 1,249,010	$ 1,686	$ 1,437,488	$ (3,820)	$ (16,283)	$ 9,141	$ (374)	$ (275,698)	$ 96,870
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
[1]Includes a $0.035 cash dividend per common share declared in the third quarter of fiscal 2023 and expected to be paid in the fourth quarter of fiscal 2023.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Oct. 01, 2023	Jul. 02, 2023	Apr. 02, 2023	Oct. 02, 2022	Jul. 03, 2022	Apr. 03, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035	$ 0.035	$ 0.035	$ 0.035	$ 0.035	$ 0.035

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (38,530)	$ (7,790)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense	89,142	83,782
Deferred income taxes	12,634	(10,259)
Loss on extinguishment of debt	472	0
Impairment and lease termination charges	7,711	7,255
Gain on disposal of property and equipment	(168)	(244)
Gain on sale-leaseback	(9,646)	(4,311)
Share-based compensation	17,821	13,318
Change in accounts and notes receivable allowances	504	378
Inventory write-off	10,522	388
Settlement of interest rate swap derivatives	7,657	0
Amortization related to settlement of interest rate swap derivatives	(7,334)	0
Other	566	804
Change in operating assets and liabilities, excluding business acquisitions and foreign currency translation adjustments	(47,319)	(12,591)
Net cash provided by operating activities	44,032	70,730
CASH FLOWS USED FOR INVESTING ACTIVITIES:
Purchase of property and equipment	(88,605)	(75,002)
Proceeds from disposals of assets	202	856
Proceeds from sale-leaseback	10,025	5,700
Acquisition of shops and franchise rights from franchisees, net of cash acquired	0	(17,335)
Purchase of equity method investment	0	(989)
Other investing activities	20	(931)
Net cash used for investing activities	(78,358)	(87,701)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of debt	1,044,698	121,500
Repayment of long-term debt and lease obligations	(965,250)	(70,180)
Payment of financing costs	(5,000)	0
Proceeds from structured payables	145,099	219,459
Payments on structured payables	(159,571)	(211,778)
Payment of contingent consideration related to a business combination	(925)	(900)
Capital contribution by shareholders, net of loans issued	631	(288)
Payments of issuance costs in connection with IPO	0	(12,458)
Proceeds from sale of noncontrolling interest in subsidiary	0	410
Distribution to shareholders	(17,657)	(17,570)
Payments for repurchase and retirement of common stock	(1,609)	(2,425)
Distribution to noncontrolling interest	(12,883)	(11,525)
Net cash provided by financing activities	27,533	14,245
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2,796)	(7,967)
Net decrease in cash, cash equivalents and restricted cash	(9,589)	(10,693)
Cash, cash equivalents and restricted cash at beginning of period	35,730	39,192
Cash, cash equivalents and restricted cash at end of period	26,141	28,499
Supplemental schedule of non-cash investing and financing activities:
Increase in accrual for property and equipment	30,616	16,272
Stock issuance under shareholder notes	0	547
Accrual for distribution to shareholders	(5,901)	(5,860)
Reconciliation of cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	25,711	28,096
Restricted cash	430	403
Total cash, cash equivalents and restricted cash	$ 26,141	$ 28,499

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Oct. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Krispy Kreme, Inc. (“KKI”) and its subsidiaries (collectively, the “Company” or “Krispy Kreme”) operates through its omni-channel business model to deliver fresh doughnut experiences and produce doughnuts for Doughnut Shops, Delivered Fresh Daily (“DFD”) outlets, and Ecommerce and delivery channels, expanding consumer access to the Krispy Kreme brand. The Company has three reportable operating segments: 1) U.S., which includes all Krispy Kreme Company-owned operations in the U.S. and Insomnia Cookies Bakeries; 2) International, which includes all Krispy Kreme Company-owned operations in the U.K., Ireland, Australia, New Zealand, and Mexico; and 3) Market Development, which includes franchise operations across the globe, as well as Krispy Kreme Company-owned shops in Canada and Japan. Unallocated corporate costs are excluded from the Company’s measurement of segment performance. Basis of Presentation and Consolidation The Company operates and reports financial information on a 52 or 53-week year with the fiscal year ending on the Sunday closest to December 31. The data periods contained within fiscal years 2022 and 2023 will reflect the results of operations for the 52-week periods ended January 1, 2023 and December 31, 2023, respectively. The quarters ended October 1, 2023 and October 2, 2022 were both 13-week periods. The unaudited Condensed Consolidated Financial Statements include the accounts of KKI and subsidiaries and 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 Securities and Exchange Commission (“SEC”). Accordingly, these interim financial statements do not include all information and footnotes required under GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of results of operations, balance sheet, cash flows, and shareholders’ equity for the periods presented. All significant intercompany balances and transactions among KKI and subsidiaries have been eliminated in consolidation. Investments in entities over which the Company has the ability to exercise significant influence but which it does not control and whose financial statements are not otherwise required to be consolidated, are accounted for using the equity method. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended January 1, 2023, included in the Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of January 1, 2023 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter ended October 1, 2023 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending December 31, 2023. Noncontrolling interest in the Company’s Condensed Consolidated Financial Statements represents the interest in subsidiaries held by joint venture partners and employee shareholders. The joint venture partners hold noncontrolling interests in the Company’s consolidated subsidiaries, Awesome Doughnut, LLC (“Awesome Doughnut”), W.K.S. Krispy Kreme, LLC (“WKS Krispy Kreme”), and Krispy K Canada, Inc. (“KK Canada”). Employee shareholders hold noncontrolling interests in the consolidated subsidiaries Krispy Kreme Holding U.K. Ltd. (“KKUK”), Krispy Kreme Holdings Pty Ltd. (“KK Australia”), Krispy Kreme Mexico Holding S.A.P.I. de C.V. (“KK Mexico”), and Insomnia Cookies Holdings, LLC (“Insomnia Cookies”). Since the Company consolidates the financial statements of these subsidiaries, the noncontrolling owners’ share of each subsidiary’s net assets and results of operations are deducted and reported as noncontrolling interest on the Condensed Consolidated Balance Sheets and as net income attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations and comprehensive income attributable to noncontrolling interest in the Condensed Consolidated Statements of Comprehensive Income/(Loss). Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies” to the Consolidated Financial Statements for the year ended January 1, 2023 included in the Annual Report on Form 10-K. There have been no material changes to the significant accounting policies during the quarter ended October 1, 2023. Reclassifications Segment information is prepared on the same basis that the Company’s management reviews financial information for operational decision-making purposes. Effective January 2, 2023, the Company realigned its segment reporting structure such that the Company-owned Canada business has moved from the U.S. and Canada reportable operating segment to the Market Development reportable operating segment. As a result, the U.S. and Canada reportable operating segment has been renamed to the U.S. reportable operating segment. All segment information has been restated to be consistent with current presentation. Exiting the Branded Sweet Treats Business During the quarter ended April 2, 2023, the Company decided to exit its pre-packaged Branded Sweet Treats business due in part to its dilutive impact on profit margins, as well as to allow the Company to focus on its fresh doughnuts business. Refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Significant Events and Transactions” included in Item 2 of Part I of this Quarterly Report on Form 10-Q for further information.

Acquisitions

Acquisitions	9 Months Ended
	Oct. 01, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions 2023 Acquisitions In the quarter and three quarters ended October 1, 2023, there were no acquisitions. 2022 Acquisitions In the quarter ended October 2, 2022, the Company acquired the business and operating assets of one franchisee, consisting of seven Krispy Kreme shops in the U.S. The Company paid total consideration of $19.4 million, consisting of $17.3 million of cash at the acquisition date, $1.2 million of consideration payable to the sellers within 12 months of the acquisition date, and $0.9 million settlement of amounts related to pre-existing relationships, to acquire substantially all of the shops’ assets. The valuation for the acquisition requires significant estimates and assumptions. The estimates are inherently uncertain and subject

Inventories

Inventories	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories are as follows: October 1, 2023 January 1, 2023 Raw materials $ 20,779 $ 20,713 Work in progress 174 476 Finished goods and purchased merchandise (1) 14,110 25,050 Total inventories $ 35,063 $ 46,239 (1) During the quarter and three quarters ended October 1, 2023 the Company recognized inventory write-offs of $0.3 million and $10.5 million, respectively, primarily related to the decision to exit the Branded Sweet Treats business.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, net	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, net	Goodwill and Other Intangible Assets, net Goodwill Changes in the carrying amount of goodwill by reportable segment are as follows: U.S. International Market Development Total Balance as of January 1, 2023 $ 678,068 $ 262,882 $ 146,958 $ 1,087,908 Foreign currency impact — 3,963 129 4,092 Balance as of October 1, 2023 $ 678,068 $ 266,845 $ 147,087 $ 1,092,000 Other Intangible Assets, net Other intangible assets consist of the following: October 1, 2023 January 1, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,943 $ — $ 657,943 $ 657,900 $ — $ 657,900 Intangible assets with definite lives Franchise agreements 30,389 (10,382) 20,007 30,632 (9,372) 21,260 Customer relationships 15,000 (6,197) 8,803 15,000 (5,548) 9,452 Reacquired franchise rights (1) 390,215 (127,505) 262,710 383,002 (105,526) 277,476 Website development costs — — — 6,500 (6,500) — Total intangible assets with definite lives 435,604 (144,084) 291,520 435,134 (126,946) 308,188 Total intangible assets $ 1,093,547 $ (144,084) $ 949,463 $ 1,093,034 $ (126,946) $ 966,088 (1) Reacquired franchise rights include the impact of foreign currency fluctuations associated with the respective countries.

Leases

Leases	9 Months Ended
	Oct. 01, 2023
Leases [Abstract]
Leases	Leases The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of October 1, 2023 January 1, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 448,569 $ 417,381 Finance lease Property and equipment, net 34,255 26,958 Total leased assets $ 482,824 $ 444,339 Liabilities Current Operating lease Current operating lease liabilities $ 49,408 $ 43,160 Finance lease Current portion of long-term debt 6,992 5,034 Noncurrent Operating lease Noncurrent operating lease liabilities 441,732 412,759 Finance lease Long-term debt, less current portion 32,813 27,549 Total leased liabilities $ 530,945 $ 488,502 Lease costs were as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 875 $ 666 $ 2,752 $ 1,643 Operating lease cost Operating expenses 21,777 20,605 66,352 64,262 Short-term lease cost Operating expenses 1,512 1,555 4,057 3,841 Variable lease costs Operating expenses 7,709 6,032 23,940 17,367 Sublease income Royalties and other revenues (35) (35) (105) (175) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,020 $ 1,405 $ 5,385 $ 3,348 Interest on lease liabilities Interest expense, net 796 489 1,860 1,430 Supplemental disclosures of cash flow information related to leases were as follows: Three Quarters Ended October 1, 2023 October 2, 2022 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 88,101 $ 77,122 Operating cash flows for finance leases 1,815 1,441 Financing cash flows for finance leases 7,552 2,930 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 57,469 $ 31,246 Finance leases 13,435 4,549 (1) Operating cash flows from operating leases include variable rent payments which are not included in the measurement of lease liabilities. Variable rent payments were $23.9 million and $17.4 million for the three quarters ended October 1, 2023 and October 2, 2022, respectively. The Company recognized a net gain of $1.3 million included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations in the three quarters ended October 1, 2023, related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. The Company recognized $4.4 million of lease termination charges included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations in the three quarters ended October 2, 2022, related to the decision to exit certain Krispy Kreme shops in the U.S. In the three quarters ended October 1, 2023, the Company completed a sale-leaseback transaction whereby it disposed of the land at one real estate property for proceeds of $10.0 million. The Company subsequently leased back the property, which is accounted for as an operating lease. The Company recognized a gain on sale of $9.6 million, which is included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations. There were no sale-leaseback transactions completed in the quarter ended October 1, 2023.
Leases	Leases The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of October 1, 2023 January 1, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 448,569 $ 417,381 Finance lease Property and equipment, net 34,255 26,958 Total leased assets $ 482,824 $ 444,339 Liabilities Current Operating lease Current operating lease liabilities $ 49,408 $ 43,160 Finance lease Current portion of long-term debt 6,992 5,034 Noncurrent Operating lease Noncurrent operating lease liabilities 441,732 412,759 Finance lease Long-term debt, less current portion 32,813 27,549 Total leased liabilities $ 530,945 $ 488,502 Lease costs were as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 875 $ 666 $ 2,752 $ 1,643 Operating lease cost Operating expenses 21,777 20,605 66,352 64,262 Short-term lease cost Operating expenses 1,512 1,555 4,057 3,841 Variable lease costs Operating expenses 7,709 6,032 23,940 17,367 Sublease income Royalties and other revenues (35) (35) (105) (175) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,020 $ 1,405 $ 5,385 $ 3,348 Interest on lease liabilities Interest expense, net 796 489 1,860 1,430 Supplemental disclosures of cash flow information related to leases were as follows: Three Quarters Ended October 1, 2023 October 2, 2022 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 88,101 $ 77,122 Operating cash flows for finance leases 1,815 1,441 Financing cash flows for finance leases 7,552 2,930 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 57,469 $ 31,246 Finance leases 13,435 4,549 (1) Operating cash flows from operating leases include variable rent payments which are not included in the measurement of lease liabilities. Variable rent payments were $23.9 million and $17.4 million for the three quarters ended October 1, 2023 and October 2, 2022, respectively. The Company recognized a net gain of $1.3 million included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations in the three quarters ended October 1, 2023, related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. The Company recognized $4.4 million of lease termination charges included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations in the three quarters ended October 2, 2022, related to the decision to exit certain Krispy Kreme shops in the U.S. In the three quarters ended October 1, 2023, the Company completed a sale-leaseback transaction whereby it disposed of the land at one real estate property for proceeds of $10.0 million. The Company subsequently leased back the property, which is accounted for as an operating lease. The Company recognized a gain on sale of $9.6 million, which is included in Other (income)/expenses, net on the Condensed Consolidated Statement of Operations. There were no sale-leaseback transactions completed in the quarter ended October 1, 2023.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 01, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents assets and liabilities that are measured at fair value on a recurring basis as of October 1, 2023 and January 1, 2023: October 1, 2023 Level 1 Level 2 Assets: Interest rate derivatives $ — $ 3,323 Commodity derivatives — 363 Foreign currency derivatives — 491 Total Assets $ — $ 4,177 January 1, 2023 Level 1 Level 2 Assets: 401(k) mirror plan assets $ 6 $ — Interest rate derivatives — 10,461 Commodity derivatives — 514 Total Assets $ 6 $ 10,975 Liabilities: Foreign currency derivatives $ — $ 170 Total Liabilities $ — $ 170 There were no assets nor liabilities measured using Level 3 inputs and no transfers of financial assets or liabilities among the levels within the fair value hierarchy during the three quarters ended October 1, 2023 and fiscal year ended January 1, 2023. The Company’s derivatives are valued using discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Oct. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Commodity Price Risk The Company uses forward contracts to protect against the effects of commodity price fluctuations in the cost of ingredients of its products, of which flour, sugar, and shortening are the most significant, and the cost of gasoline used by its delivery vehicles. Management has not designated these forward contracts as hedges. As of October 1, 2023 and January 1, 2023, the total notional amount of commodity derivatives was 1.3 million and 1.7 million gallons of gasoline, respectively. They were scheduled to mature between October 2023 and December 2024 and January 2023 and December 2024, respectively. As of October 1, 2023 and January 1, 2023, the Company recorded assets of $0.4 million and $0.5 million, respectively, related to the fair market values of its commodity derivatives. The settlement of commodity derivative contracts is reported in the Condensed Consolidated Statements of Cash Flows as a cash flow from operating activities. Interest Rate Risk The Company uses interest rate swaps to manage its exposure to interest rate volatility from its debt arrangements. Management has designated the swap agreements as cash flow hedges and recognized the changes in the fair value of these swaps in other comprehensive income. As of October 1, 2023 and January 1, 2023, the Company has recorded assets of $3.3 million and $10.5 million, respectively, related to the fair market values of its interest rate derivatives. The cash flows associated with the interest rate swaps are reflected in operating activities in the Condensed Consolidated Statements of Cash Flows, which is consistent with the classification as operating activities of the interest payments on the term loan. In the three quarters ended October 1, 2023, the Company cancelled certain interest rate swap agreements with an aggregate notional amount of $265.0 million, collecting $7.7 million in cash proceeds, and entered into new agreements with the same counterparties. The primary difference between these new agreements and the prior versions included the setting of a new payment rate on the fixed component of the swaps (4.38%). At the same time, the Company also amended the benchmark interest rate on the floating component of all $505.0 million hedged notional to one-month SOFR, corresponding to the new interest rate on its refinanced credit facility discussed in Note 9 , Long-Term Debt. Foreign Currency Exchange Rate Risk The Company is exposed to foreign currency risk primarily from its investments in consolidated subsidiaries that operate in Canada, the U.K., Ireland, Australia, New Zealand, Mexico, and Japan. In order to mitigate the impact of foreign exchange fluctuations on commercial and financial transactions with these subsidiaries, the Company enters into foreign exchange forward contracts. Management has not designated these forward contracts as hedges. As of October 1, 2023 and January 1, 2023, the total notional amount of foreign exchange derivatives was $57.1 million and $59.0 million, respectively. They matured in October 2023 and January 2023, respectively. The Company recorded an asset of $0.5 million and a liability of $0.2 million as of October 1, 2023 and January 1, 2023, respectively, related to the fair market values of its foreign exchange derivatives. Quantitative Summary of Derivative Positions and Their Effect on Results of Operations The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of October 1, 2023 and January 1, 2023, for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. The Company only has cash flow hedges that are designated as hedging instruments. Derivatives Fair Value Derivatives Not Designated as Hedging Instruments October 1, January 1, Balance Sheet Location Foreign currency derivatives $ 491 $ — Prepaid expense and other current assets Commodity derivatives 363 514 Prepaid expense and other current assets Total Assets $ 854 $ 514 Foreign currency derivatives $ — $ 170 Accrued liabilities Total Liabilities $ — $ 170 Derivatives Fair Value Derivatives Designated as Hedging Instruments October 1, January 1, Balance Sheet Location Interest rate derivatives $ 3,323 $ 7,218 Prepaid expense and other current assets Interest rate derivatives — 3,243 Other assets Total Assets $ 3,323 $ 10,461 The effect of derivative instruments on the Condensed Consolidated Statements of Operations for the quarter and three quarters ended October 1, 2023 and October 2, 2022 is as follows: Derivative Gain/(Loss) Recognized in Income for the Quarter Ended Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended Derivatives Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Location of Derivative Gain/(Loss) Recognized in Income Gain/(loss) on interest rate derivatives $ 2,946 $ (107) $ 5,578 $ (4,478) Interest expense, net $ 2,946 $ (107) $ 5,578 $ (4,478) Derivative Gain/(Loss) Recognized in Income for the Quarter Ended Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended Derivatives Not Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Location of Derivative Gain/(Loss) Recognized in Income Gain on foreign currency derivatives $ 599 $ 678 $ 661 $ 423 Other non-operating expense, net Gain/(loss) on commodity derivatives 233 (1,589) (151) (917) Other non-operating expense, net $ 832 $ (911) $ 510 $ (494)

Vendor Finance Programs

Vendor Finance Programs	9 Months Ended
	Oct. 01, 2023
Payables and Accruals [Abstract]
Vendor Finance Programs	Vendor Finance Programs The following table presents liabilities related to vendor finance programs which the Company participates in as a buyer as of October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Balance Sheet Location Supply chain financing programs $ 99,505 $ 159,426 Accounts payable Structured payables programs 88,838 103,575 Structured payables Total Liabilities $ 188,343 $ 263,001 Supply Chain Financing (“SCF”) Programs The Company has an agreement with a third-party administrator which allows participating vendors to track its payments, and if voluntarily elected by the vendor, to sell payment obligations from the Company to financial institutions as part of the SCF program. The Company’s typical payment terms for trade payables range up to 180 days outside of the SCF program, depending on the type of vendors and the nature of the supplies or services. For vendors under the SCF Program, the Company has established payable terms ranging up to, but not exceeding, 360 days. When participating vendors elect to sell one or more of the Company’s payment obligations, the Company’s rights and obligations to settle the payables on their contractual due date are not impacted. The Company has no economic or commercial interest in a vendor’s decision to enter into these agreements and the financial institutions do not provide the Company with incentives such as rebates or profit sharing under the SCF program. The Company agrees on commercial terms with vendors for the goods and services procured, which are consistent with payment terms observed at other peer companies in the industry, and as the terms are not impacted by the SCF program, such obligations are classified as Accounts payable on the Condensed Consolidated Balance Sheets and the associated cash flows are included in operating activities in the Condensed Consolidated Statements of Cash Flows. Structured Payables Programs The Company utilizes various card products issued by financial institutions to facilitate purchases of goods and services. By using these products, the Company may receive differing levels of rebates based on timing of repayment. The payment obligations under these card products are classified as Structured payables on the Condensed Consolidated Balance Sheets and the associated cash flows are included in financing activities in the Condensed Consolidated Statements of Cash Flows.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt obligations consists of the following: October 1, 2023 January 1, 2023 2023 Facility — term loan $ 691,250 $ — 2023 Facility — revolving credit facility 143,000 — Short-term lines of credit 1,500 — 2019 Facility — term loan — 586,250 2019 Facility — revolving credit facility — 162,500 Less: Debt issuance costs (4,634) (2,247) Finance lease obligations 39,805 32,583 Total long-term debt 870,921 779,086 Less: Current portion of long-term debt (43,492) (40,034) Long-term debt, less current portion $ 827,429 $ 739,052 2023 Secured Credit Facility In March 2023, the Company entered into a new credit agreement (the “2023 Facility”) consisting of a $300.0 million senior secured revolving credit facility and a term loan with a principal amount of $700.0 million. The 2023 Facility is secured by a first priority lien on substantially all of the Company’s personal property assets, certain real properties, and all of the Company’s domestic wholly owned subsidiaries. The initial proceeds of the 2023 Facility were used, in part, to refinance the loans and commitments under the Company’s existing credit agreement (the “2019 Facility”), and thereupon terminate the 2019 Facility. The loans and commitments under the 2019 Facility were due to mature in June 2024, and the loans and commitments under the 2023 Facility will mature in March 2028. In addition to refinancing the loans and commitments under the 2019 Facility, loans made pursuant to the 2023 Facility may be used for general corporate purposes of the Company (including, but not limited to, financing working capital needs, capital expenditures, acquisitions, other investments, dividends, and stock repurchases) and for any other purpose not prohibited under the related loan documents. The terms of the 2023 Facility are substantially similar to those of the 2019 Facility, except for the maturity date and the benchmark interest rate. Borrowings under the 2023 Facility are generally subject to an interest rate of adjusted term SOFR plus a credit spread adjustment of 0.10% plus (i) 2.25% if the Company’s leverage ratio (as defined in the 2023 Facility) equals or exceeds 4.00 to 1.00, (ii) 2.00% if the Company’s leverage ratio is less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00, or (iii) 1.75% if the Company’s leverage ratio is less than 3.00 to 1.00. As of October 1, 2023 and January 1, 2023, the unhedged interest rate was 7.42% under the 2023 Facility and 4.44% under the 2019 Facility, respectively. As of October 1, 2023 and January 1, 2023, $505.0 million out of the $691.3 million term loan balance and $505.0 million out of the $586.3 million term loan balance, respectively, was hedged. The effective interest rate on the term loan was approximately 6.79% and 5.45% for the three quarters ended October 1, 2023 and fiscal year ended January 1, 2023, respectively. Refer to Note 7 , Derivative Instruments for further discussion of the interest rate swap arrangements. The Company is required to make equal installments of 1.25% of the aggregate closing date principal amount of the term loans on the last day of each fiscal quarter (commencing with the second full fiscal quarter following the closing date). All remaining term loan and revolving loan balances are to be due five years from the closing date. The Company capitalized $7.5 million of debt issuance costs related to the 2023 Facility, $5.3 million of which is related to the term loan and $2.2 million related to the revolving credit facility. Additionally, the Company recognized $0.5 million expenses during the three quarters ended October 1, 2023 related to unamortized debt issuance costs from the 2019 Facility associated with extinguished lenders, which are included in Interest expense, net in the Condensed Consolidated Statements of Operations. Restrictions and Covenants The 2023 Facility requires the Company to meet a maximum leverage ratio financial test. The leverage ratio is required to be less than 5.00 to 1.00 as of the end of each quarterly Test Period (as defined in the 2023 Facility) through maturity in March 2028. The leverage ratio under the 2023 Facility is defined as the ratio of (a) Total Indebtedness (as defined in the 2023 Facility, which includes all debt and finance lease obligations) minus unrestricted cash and cash equivalents to (b) a defined calculation of Adjusted EBITDA (“2023 Facility Adjusted EBITDA”) for the most recently ended Test Period. The 2023 Facility Adjusted EBITDA for purposes of these restrictive covenants includes incremental adjustments beyond those included in the Company’s Adjusted EBITDA non-GAAP measure. Specifically, the 2023 Facility Adjusted EBITDA definition includes pro forma impact of EBITDA to be received from new shop openings and acquisitions for periods not yet in operation, certain acquisition related synergies and cost optimization activities, and incremental add-backs for pre-opening costs. The 2023 Facility also contains covenants which, among other things, generally limit (with certain exceptions): mergers, amalgamations, or consolidations; the incurrence of additional indebtedness (including guarantees); the incurrence of additional liens; the sale, assignment, lease, conveyance, or transfer of assets; certain investments; dividends and stock redemptions or repurchases in excess of certain amounts; transactions with affiliates; engaging in materially different lines of business; and other activities customarily restricted in such agreements. The 2023 Facility also prohibits the transfer of cash or other assets to the parent company, whether by dividend, loan, or otherwise, but provides for exceptions to enable the parent company to pay taxes, directors’ fees, and operating expenses, as well as exceptions to permit dividends in respect of the Company’s common stock and stock redemptions and repurchases, to the extent permitted by the 2023 Facility. Subject to certain exceptions, the borrowings under the 2023 Facility are collateralized by substantially all of the Company’s assets (including its equity interests in its subsidiaries). As of October 1, 2023 and January 1, 2023, the Company was in compliance with the financial covenants related to the 2023 Facility. Short-Term Lines of Credit In September 2023, the Company approved two new agreements with existing lenders providing for short-term, uncommitted lines of credit up to $25.0 million. Borrowings under these short-term lines of credit will be payable to the lenders on a revolving basis for tenors up to a maximum of three months and are subject to an interest rate of adjusted term SOFR plus a credit spread adjustment of 0.10% plus a margin of 1.75%. As of October 1, 2023, the Company had drawn $1.5 million under one of the agreements which is classified within Current portion of long-term debt on the Condensed Consolidated Balance Sheets.

Share-based Compensation

Share-based Compensation	9 Months Ended
	Oct. 01, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) The Company and certain of its subsidiaries issue time-vested RSUs and PSUs under their respective executive ownership plans and long-term incentive plans. During the three quarters ended October 1, 2023, the Company granted 2.5 million awards, of which 0.7 million were PSUs. The majority of new RSUs granted vest over a 60-month period subsequent to the grant date (with 60% vesting on the third anniversary of the grant date, 20% vesting on the fourth anniversary of the grant date, and 20% vesting at the end of the 60-month term). The new PSUs granted have one-year or three-year performance cycles, and the majority of the awards cliff vest at the end of the respective performance cycle. The PSU vesting is contingent upon the achievement of certain performance objectives and the awards are subject to a requisite service period. If the Company meets targets for the performance objectives at the end of the performance cycle, the Company awards a resulting number of shares of its common stock to the award holders. The number of shares may be increased to a maximum threshold (up to 200% of the target threshold set at the grant date, for a majority of the awards) or reduced to a minimum threshold (a floor of zero) based on the achievement of these performance objectives in accordance with the terms established at the award’s grant date. The Company estimates the probability that the performance objectives will be achieved periodically and adjusts compensation expenses accordingly. The Company determines compensation expenses associated with the RSUs and PSUs based on an award’s grant date fair value, with expenses recognized on a straight-line basis over the requisite service period for the entire award. RSU and PSU activity under the Company’s various plans during the periods presented is as follows: (in thousands, except per share amounts) Non-vested shares outstanding at January 1, Granted Vested Forfeited Non-vested shares outstanding at October 1, KKI RSUs and PSUs 4,946 2,502 615 389 6,444 Weighted Average Grant Date Fair Value $ 14.23 14.80 11.66 14.97 $ 14.65 KKUK RSUs 60 — 50 3 7 Weighted Average Grant Date Fair Value $ 15.77 — 13.41 21.21 $ 29.80 Insomnia Cookies RSUs 38 — — 1 37 Weighted Average Grant Date Fair Value $ 101.54 — — 128.94 $ 100.73 KK Australia RSUs 354 — 169 — 185 Weighted Average Grant Date Fair Value $ 1.47 — 1.36 — $ 1.57 KK Mexico RSUs 60 — — 40 20 Weighted Average Grant Date Fair Value $ 33.08 — — 34.58 $ 30.18 The Company recorded total non-cash compensation expense related to RSUs and PSUs under the plans of $6.5 million and $15.1 million for the quarter and three quarters ended October 1, 2023, respectively, and $2.5 million and $11.4 million for the quarter and three quarters ended October 2, 2022, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows: As of October 1, 2023 Unrecognized Compensation Cost Recognized Over a KKI $ 61,809 3.0 years KKUK 111 2.7 years Insomnia Cookies 1,700 1.9 years KK Australia 102 1.8 years KK Mexico 297 1.9 years The estimated fair value of restricted stock is calculated using a market approach (i.e., market multiple is used for the KKUK and Insomnia Cookies plans and an agreed-upon EBITDA buyout multiple is used for KK Australia and KK Mexico plans). Time-Vested Stock Options KKI issues time-vested stock options under its Omnibus Incentive Plan. The fair value of time-vested stock options was estimated on the date of grant using the Black-Scholes option pricing model. Share options outstanding at Share options outstanding at (in thousands, except per share amounts) January 1, Granted Exercised Forfeited or Expired October 1, KKI Options 2,569 424 — — 2,993 Weighted Average Grant Date Fair Value $ 6.10 4.72 — — $ 5.90 Weighted Average Exercise Price $ 14.61 12.45 — — $ 14.30 The Company recorded total non-cash compensation expense related to the time-vested stock options of $0.9 million and $2.7 million for the quarter and three quarters ended October 1, 2023, respectively, and $0.3 million and $1.9 million for the quarter and three quarters ended October 2, 2022, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The unrecognized compensation cost related to the unvested stock options and the weighted average period over which such cost is expected to be recognized are as follows: As of October 1, 2023 Unrecognized Compensation Cost Recognized Over a KKI $ 9,095 2.6 years

Income Taxes

Income Taxes	9 Months Ended
	Oct. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim tax reporting, the Company estimates a worldwide annual effective tax rate and applies that rate to the year-to-date ordinary (loss)/income. The tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur.The Company’s effective income tax rates were -153.3% and -80.0% for the quarter and three quarters ended October 1, 2023, respectively, and -2.5% and -267.1% for the quarter and three quarters ended October 2, 2022, respectively. The Company’s effective income tax rate for the quarter and three quarters ended October 1, 2023 differed from the respective statutory rates primarily due to the mix of income and taxes attributable to foreign jurisdictions, the recognition of previously unrecognized tax benefits, disallowed executive compensation expense, noncontrolling interest in domestic joint ventures, and a discrete tax benefit unrelated to ongoing operations. The Company’s effective income tax rate for the quarter and three quarters ended October 2, 2022 differed from the respective statutory rates primarily due to the mix of income and taxes attributable to foreign jurisdictions, disallowed executive compensation expense, a discrete tax benefit related to a litigation settlement, and the recognition of previously unrecognized tax benefits

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Pending Litigation In March 2023, an employee filed a lawsuit on behalf of himself and all others similarly situated against the Company, alleging violations of the Illinois Biometric Information Privacy Act. The Company believes that it has meritorious defenses to the complaint and will vigorously defend against these claims. This lawsuit is not expected to have a material impact on the Company’s financial results. Other Legal Matters The Company also is engaged in various legal proceedings arising in the normal course of business. The Company maintains insurance policies against certain kinds of such claims and suits, including insurance policies for workers’ compensation and personal injury, all of which are subject to deductibles. While the ultimate outcome of these matters could differ from management’s expectations, management currently does not believe their resolution will have a material adverse effect on the Company’s Condensed Consolidated Financial Statements. Other Commitments and Contingencies

Related Party Transactions

Related Party Transactions	9 Months Ended
	Oct. 01, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has an equity ownership in three franchisees, KremeWorks USA, LLC (20% ownership), KremeWorks Canada, L.P. (25% ownership), and Krispy Kreme Doughnuts France SAS (“KK France”) (33% ownership), with an aggregate carrying value of $1.3 million and $1.9 million as of October 1, 2023 and January 1, 2023, respectively.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Oct. 01, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenues Revenues are disaggregated as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Company Shops, DFD and Branded Sweet Treats $ 385,810 $ 353,979 $ 1,166,052 $ 1,060,364 Mix and equipment revenue from franchisees 12,935 16,237 43,715 41,681 Franchise royalties and other 8,622 7,306 25,432 23,254 Total net revenues $ 407,367 $ 377,522 $ 1,235,199 $ 1,125,299 Other revenues include advertising fund contributions from franchisees, rental income, development and franchise fees, and licensing royalties from Keurig related to Krispy Kreme brands coffee sales. Contract Balances Deferred revenue and related receivables are as follows: October 1, 2023 January 1, 2023 Balance Sheet Location Trade receivables, net of allowances of $484 and $282, respectively $ 40,973 $ 40,131 Accounts receivables, net Deferred revenue: Current $ 18,736 $ 19,417 Accrued liabilities Noncurrent 5,591 3,946 Other long-term obligations and deferred credits Total deferred revenue $ 24,327 $ 23,363 Trade receivables relate primarily to payments due for royalties, franchise fees, advertising fees, sale of products, and licensing fees. Deferred revenue primarily represents the Company’s remaining performance obligations under gift cards and franchise and development agreements for which consideration has been received or is receivable and is generally recognized on a straight-line basis over the remaining term of the related agreement. The noncurrent portion of deferred revenue primarily relates to the remaining performance obligations in the franchise and development agreements.

Net Loss per Share

Net Loss per Share	9 Months Ended
	Oct. 01, 2023
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share The following table presents the calculations of basic and diluted EPS: Quarter Ended Three Quarters Ended (in thousands, except per share amounts) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Net loss attributable to Krispy Kreme, Inc. $ (40,457) $ (13,056) $ (40,535) $ (12,903) Adjustment to net loss attributable to common shareholders — — — (374) Net loss attributable to common shareholders - Basic $ (40,457) $ (13,056) $ (40,535) $ (13,277) Additional income attributed to noncontrolling interest due to subsidiary potential common shares (7) (76) (14) (174) Net loss attributable to common shareholders - Diluted $ (40,464) $ (13,132) $ (40,549) $ (13,451) Basic weighted average common shares outstanding 168,224 167,431 168,183 167,353 Dilutive effect of outstanding common stock options, RSUs, and PSUs — — — — Diluted weighted average common shares outstanding 168,224 167,431 168,183 167,353 Loss per share attributable to common shareholders: Basic $ (0.24) $ (0.08) $ (0.24) $ (0.08) Diluted $ (0.24) $ (0.08) $ (0.24) $ (0.08) Potential dilutive shares consist of unvested RSUs and PSUs, calculated using the treasury stock method. The calculation of dilutive shares outstanding excludes certain unvested RSUs granted under certain subsidiaries’ executive ownership plans and long-term incentive plans, because their inclusion would have been antidilutive. The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method): Quarter Ended Three Quarters Ended (in thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 KKI 6,444 5,779 6,444 5,779 KKUK 7 60 — 2 Insomnia Cookies 37 10 37 3 KK Australia — — — — KK Mexico — 60 — — For the quarter and three quarters ended October 1, 2023, as well as the quarter and three quarters ended October 2, 2022, all 3.0 million and 2.6 million time-vested stock options, respectively, were excluded from the computation of diluted weighted average common shares outstanding based on application of the treasury stock method.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company conducts business through the three reportable segments: U.S., International, and Market Development. Unallocated corporate costs are excluded from the Company’s measurement of segment performance. These costs include general corporate expenses. As discussed in Note 1 , Description of Business and Summary of Significant Accounting Policies, effective January 2, 2023, the Company realigned its segment reporting structure such that the Company-owned Canada business has moved from the U.S. and Canada reportable operating segment to the Market Development reportable operating segment. As a result, the U.S. and Canada reportable operating segment has been renamed to the U.S. reportable operating segment. All segment information has been restated to be consistent with current presentation. The reportable segment results are as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Net revenues: U.S. $ 260,177 $ 246,830 $ 808,938 $ 739,414 International 106,130 91,934 294,750 272,988 Market Development 41,060 38,758 131,511 112,897 Total net revenues $ 407,367 $ 377,522 $ 1,235,199 $ 1,125,299 Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Segment Adjusted EBITDA: U.S. $ 22,258 $ 20,452 $ 88,878 $ 77,014 International 21,406 18,254 54,436 55,033 Market Development 13,371 11,797 46,071 36,642 Corporate (13,294) (11,961) (41,902) (33,879) Adjusted EBITDA 43,741 38,542 147,483 134,810 Interest expense, net 12,807 8,871 36,858 23,808 Income tax expense 24,367 294 17,121 5,668 Depreciation and amortization expense 32,007 28,127 89,142 83,782 Share-based compensation 7,452 2,825 17,821 13,318 Employer payroll taxes related to share-based compensation 96 2 310 92 Other non-operating expense, net (1) 971 1,648 3,031 2,083 Strategic initiatives (2) 5,895 86 23,841 206 Acquisition and integration expenses (3) 49 790 479 1,389 New market penetration expenses (4) 678 313 1,013 683 Shop closure (income)/expenses, net (5) (449) 5,735 356 7,859 Restructuring and severance expenses (6) 552 2,328 2,799 2,804 Gain on sale-leaseback — (1,937) (9,646) (4,311) Other (7) (426) 1,300 2,888 5,219 Net loss $ (40,258) $ (11,840) $ (38,530) $ (7,790) (1) Primarily foreign translation gains and losses in each period. (2) The quarter and three quarters ended October 1, 2023 consist primarily of costs associated with global transformation and U.S. initiatives such as the decision to exit the Branded Sweet Treats business, including property, plant and equipment impairments, inventory write-offs, employee severance, and other related costs. (3) Consists of acquisition and integration-related costs in connection with the Company’s business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period. (4) Consists of start-up costs associated with entry into new countries for which the Company’s brands have not previously operated, including the Insomnia Cookies brand entering Canada and the U.K. (5) Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment. The quarter and three quarters ended October 1, 2023 include gains related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. (6) The quarter and three quarters ended October 1, 2023 and October 2, 2022 consist primarily of costs associated with restructuring of the global executive team. (7) The quarter and three quarters ended October 1, 2023 and October 2, 2022 consist primarily of legal and other regulatory expenses incurred outside the ordinary course of business.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 01, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company evaluated subsequent events and transactions for potential recognition or disclosure in the Condensed Consolidated Financial Statements through November 13, 2023, the date the Condensed Consolidated Financial Statements were available to be issued. All subsequent events requiring recognition and disclosure have been incorporated into these Condensed Consolidated Financial Statements. On October 3, 2023, the Company announced it is exploring strategic alternatives for Insomnia Cookies, to include considering a sale. This decision would enable the Company to unlock shareholder value and focus on its core strategy of producing, selling, and distributing fresh doughnuts daily. As of the date of issuance of this Quarterly Report on Form 10-Q, the Company continues to explore strategic alternatives. The Company is currently evaluating the effect on its financial reporting for the fourth quarter of fiscal 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Pay vs Performance Disclosure
Net loss attributable to Krispy Kreme, Inc.	$ (40,457)	$ (13,056)	$ (40,535)	$ (12,903)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 01, 2023
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

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Company operates and reports financial information on a 52 or 53-week year with the fiscal year ending on the Sunday closest to December 31. The data periods contained within fiscal years 2022 and 2023 will reflect the results of operations for the 52-week periods ended January 1, 2023 and December 31, 2023, respectively. The quarters ended October 1, 2023 and October 2, 2022 were both 13-week periods.The unaudited Condensed Consolidated Financial Statements include the accounts of KKI and subsidiaries and 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 Securities and Exchange Commission (“SEC”). Accordingly, these interim financial statements do not include all information and footnotes required under GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of results of operations, balance sheet, cash flows, and shareholders’ equity for the periods presented. All significant intercompany balances and transactions among KKI and subsidiaries have been eliminated in consolidation. Investments in entities over which the Company has the ability to exercise significant influence but which it does not control and whose financial statements are not otherwise required to be consolidated, are accounted for using the equity method.
Consolidation	These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended January 1, 2023, included in the Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of January 1, 2023 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter ended October 1, 2023 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending December 31, 2023. Noncontrolling interest in the Company’s Condensed Consolidated Financial Statements represents the interest in subsidiaries held by joint venture partners and employee shareholders. The joint venture partners hold noncontrolling interests in the Company’s consolidated subsidiaries, Awesome Doughnut, LLC (“Awesome Doughnut”), W.K.S. Krispy Kreme, LLC (“WKS Krispy Kreme”), and Krispy K Canada, Inc. (“KK Canada”). Employee shareholders hold noncontrolling interests in the consolidated subsidiaries Krispy Kreme Holding U.K. Ltd. (“KKUK”), Krispy Kreme Holdings Pty Ltd. (“KK Australia”), Krispy Kreme Mexico Holding S.A.P.I. de C.V. (“KK Mexico”), and Insomnia Cookies Holdings, LLC (“Insomnia Cookies”). Since the Company consolidates the financial statements of these subsidiaries, the noncontrolling owners’ share of each subsidiary’s net assets and results of operations are deducted and reported as noncontrolling interest on the Condensed Consolidated Balance Sheets and as net income attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations and comprehensive income attributable to noncontrolling interest in the Condensed Consolidated Statements of Comprehensive Income/(Loss).
Reclassifications	Reclassifications Segment information is prepared on the same basis that the Company’s management reviews financial information for operational decision-making purposes. Effective January 2, 2023, the Company realigned its segment reporting structure such that the Company-owned Canada business has moved from the U.S. and Canada reportable operating segment to the Market Development reportable operating segment. As a result, the U.S. and Canada reportable operating segment has been renamed to the U.S. reportable operating segment. All segment information has been restated to be consistent with current presentation. Exiting the Branded Sweet Treats Business During the quarter ended April 2, 2023, the Company decided to exit its pre-packaged Branded Sweet Treats business due in part to its dilutive impact on profit margins, as well as to allow the Company to focus on its fresh doughnuts business. Refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Significant Events and Transactions” included in Item 2 of Part I of this Quarterly Report on Form 10-Q for further information.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. It was effective for all entities as of March 12, 2020 through December 31, 2022. A company may elect to apply the amendments for contract modifications as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 , which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform by delaying the effective date of the guidance issued in ASU 2020-04 to December 31, 2024. As described in Note 9 , Long-Term Debt, during the quarter ended April 2, 2023 the Company refinanced its debt with interest to be calculated prospectively with reference to the Secured Overnight Financing Rate (“SOFR”), and accordingly adopted this standard, which did not impact the financial statements presented herein. In September 2022, the FASB issued ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations , which requires certain disclosures be made by a buyer in a supplier finance program, including the key terms of the program and, for the obligations that the buyer has confirmed as valid to the finance provider, the amount outstanding that remains unpaid by the buyer as of the end of the fiscal period, a description of where those obligations are presented in the balance sheet, and a rollforward of those obligations during the fiscal period. It is effective for all entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. As such, the Company adopted this standard in the quarter ended April 2, 2023 and has disclosed the required information in Note 8 , Vendor Finance Programs, other than the rollforward information which is not effective until fiscal years beginning after December 15, 2023. The Company is currently evaluating the effect of the new guidance on its annual disclosures.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 01, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of Inventories are as follows: October 1, 2023 January 1, 2023 Raw materials $ 20,779 $ 20,713 Work in progress 174 476 Finished goods and purchased merchandise (1) 14,110 25,050 Total inventories $ 35,063 $ 46,239

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, net (Tables)	9 Months Ended
	Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segment	Changes in the carrying amount of goodwill by reportable segment are as follows: U.S. International Market Development Total Balance as of January 1, 2023 $ 678,068 $ 262,882 $ 146,958 $ 1,087,908 Foreign currency impact — 3,963 129 4,092 Balance as of October 1, 2023 $ 678,068 $ 266,845 $ 147,087 $ 1,092,000
Schedule of Indefinite-Lived Intangible Assets	Other intangible assets consist of the following: October 1, 2023 January 1, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,943 $ — $ 657,943 $ 657,900 $ — $ 657,900 Intangible assets with definite lives Franchise agreements 30,389 (10,382) 20,007 30,632 (9,372) 21,260 Customer relationships 15,000 (6,197) 8,803 15,000 (5,548) 9,452 Reacquired franchise rights (1) 390,215 (127,505) 262,710 383,002 (105,526) 277,476 Website development costs — — — 6,500 (6,500) — Total intangible assets with definite lives 435,604 (144,084) 291,520 435,134 (126,946) 308,188 Total intangible assets $ 1,093,547 $ (144,084) $ 949,463 $ 1,093,034 $ (126,946) $ 966,088
Schedule of Finite-Lived Intangible Assets	Other intangible assets consist of the following: October 1, 2023 January 1, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,943 $ — $ 657,943 $ 657,900 $ — $ 657,900 Intangible assets with definite lives Franchise agreements 30,389 (10,382) 20,007 30,632 (9,372) 21,260 Customer relationships 15,000 (6,197) 8,803 15,000 (5,548) 9,452 Reacquired franchise rights (1) 390,215 (127,505) 262,710 383,002 (105,526) 277,476 Website development costs — — — 6,500 (6,500) — Total intangible assets with definite lives 435,604 (144,084) 291,520 435,134 (126,946) 308,188 Total intangible assets $ 1,093,547 $ (144,084) $ 949,463 $ 1,093,034 $ (126,946) $ 966,088

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 01, 2023
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of October 1, 2023 January 1, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 448,569 $ 417,381 Finance lease Property and equipment, net 34,255 26,958 Total leased assets $ 482,824 $ 444,339 Liabilities Current Operating lease Current operating lease liabilities $ 49,408 $ 43,160 Finance lease Current portion of long-term debt 6,992 5,034 Noncurrent Operating lease Noncurrent operating lease liabilities 441,732 412,759 Finance lease Long-term debt, less current portion 32,813 27,549 Total leased liabilities $ 530,945 $ 488,502
Schedule of Lease Costs and Supplemental Cash Flow Information Related to Leases	Lease costs were as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 875 $ 666 $ 2,752 $ 1,643 Operating lease cost Operating expenses 21,777 20,605 66,352 64,262 Short-term lease cost Operating expenses 1,512 1,555 4,057 3,841 Variable lease costs Operating expenses 7,709 6,032 23,940 17,367 Sublease income Royalties and other revenues (35) (35) (105) (175) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,020 $ 1,405 $ 5,385 $ 3,348 Interest on lease liabilities Interest expense, net 796 489 1,860 1,430 Supplemental disclosures of cash flow information related to leases were as follows: Three Quarters Ended October 1, 2023 October 2, 2022 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 88,101 $ 77,122 Operating cash flows for finance leases 1,815 1,441 Financing cash flows for finance leases 7,552 2,930 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 57,469 $ 31,246 Finance leases 13,435 4,549

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Oct. 01, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents assets and liabilities that are measured at fair value on a recurring basis as of October 1, 2023 and January 1, 2023: October 1, 2023 Level 1 Level 2 Assets: Interest rate derivatives $ — $ 3,323 Commodity derivatives — 363 Foreign currency derivatives — 491 Total Assets $ — $ 4,177 January 1, 2023 Level 1 Level 2 Assets: 401(k) mirror plan assets $ 6 $ — Interest rate derivatives — 10,461 Commodity derivatives — 514 Total Assets $ 6 $ 10,975 Liabilities: Foreign currency derivatives $ — $ 170 Total Liabilities $ — $ 170

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Oct. 01, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value	The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of October 1, 2023 and January 1, 2023, for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. The Company only has cash flow hedges that are designated as hedging instruments. Derivatives Fair Value Derivatives Not Designated as Hedging Instruments October 1, January 1, Balance Sheet Location Foreign currency derivatives $ 491 $ — Prepaid expense and other current assets Commodity derivatives 363 514 Prepaid expense and other current assets Total Assets $ 854 $ 514 Foreign currency derivatives $ — $ 170 Accrued liabilities Total Liabilities $ — $ 170 Derivatives Fair Value Derivatives Designated as Hedging Instruments October 1, January 1, Balance Sheet Location Interest rate derivatives $ 3,323 $ 7,218 Prepaid expense and other current assets Interest rate derivatives — 3,243 Other assets Total Assets $ 3,323 $ 10,461
Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss)	The effect of derivative instruments on the Condensed Consolidated Statements of Operations for the quarter and three quarters ended October 1, 2023 and October 2, 2022 is as follows: Derivative Gain/(Loss) Recognized in Income for the Quarter Ended Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended Derivatives Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Location of Derivative Gain/(Loss) Recognized in Income Gain/(loss) on interest rate derivatives $ 2,946 $ (107) $ 5,578 $ (4,478) Interest expense, net $ 2,946 $ (107) $ 5,578 $ (4,478) Derivative Gain/(Loss) Recognized in Income for the Quarter Ended Derivative Gain/(Loss) Recognized in Income for the Three Quarters Ended Derivatives Not Designated as Hedging Instruments October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Location of Derivative Gain/(Loss) Recognized in Income Gain on foreign currency derivatives $ 599 $ 678 $ 661 $ 423 Other non-operating expense, net Gain/(loss) on commodity derivatives 233 (1,589) (151) (917) Other non-operating expense, net $ 832 $ (911) $ 510 $ (494)

Vendor Finance Programs (Tables

Vendor Finance Programs (Tables)	9 Months Ended
	Oct. 01, 2023
Payables and Accruals [Abstract]
Liabilities Related to Vendor Finance Programs	The following table presents liabilities related to vendor finance programs which the Company participates in as a buyer as of October 1, 2023 and January 1, 2023: October 1, 2023 January 1, 2023 Balance Sheet Location Supply chain financing programs $ 99,505 $ 159,426 Accounts payable Structured payables programs 88,838 103,575 Structured payables Total Liabilities $ 188,343 $ 263,001

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Oct. 01, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt obligations consists of the following: October 1, 2023 January 1, 2023 2023 Facility — term loan $ 691,250 $ — 2023 Facility — revolving credit facility 143,000 — Short-term lines of credit 1,500 — 2019 Facility — term loan — 586,250 2019 Facility — revolving credit facility — 162,500 Less: Debt issuance costs (4,634) (2,247) Finance lease obligations 39,805 32,583 Total long-term debt 870,921 779,086 Less: Current portion of long-term debt (43,492) (40,034) Long-term debt, less current portion $ 827,429 $ 739,052

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Oct. 01, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	RSU and PSU activity under the Company’s various plans during the periods presented is as follows: (in thousands, except per share amounts) Non-vested shares outstanding at January 1, Granted Vested Forfeited Non-vested shares outstanding at October 1, KKI RSUs and PSUs 4,946 2,502 615 389 6,444 Weighted Average Grant Date Fair Value $ 14.23 14.80 11.66 14.97 $ 14.65 KKUK RSUs 60 — 50 3 7 Weighted Average Grant Date Fair Value $ 15.77 — 13.41 21.21 $ 29.80 Insomnia Cookies RSUs 38 — — 1 37 Weighted Average Grant Date Fair Value $ 101.54 — — 128.94 $ 100.73 KK Australia RSUs 354 — 169 — 185 Weighted Average Grant Date Fair Value $ 1.47 — 1.36 — $ 1.57 KK Mexico RSUs 60 — — 40 20 Weighted Average Grant Date Fair Value $ 33.08 — — 34.58 $ 30.18
Share-based Payment Arrangement, Nonvested Award, Cost	The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows: As of October 1, 2023 Unrecognized Compensation Cost Recognized Over a KKI $ 61,809 3.0 years KKUK 111 2.7 years Insomnia Cookies 1,700 1.9 years KK Australia 102 1.8 years KK Mexico 297 1.9 years The unrecognized compensation cost related to the unvested stock options and the weighted average period over which such cost is expected to be recognized are as follows: As of October 1, 2023 Unrecognized Compensation Cost Recognized Over a KKI $ 9,095 2.6 years
Share-based Payment Arrangement, Option, Activity	A summary of the status of the time-vested stock options as of January 1, 2023 and changes during the first three quarters of fiscal 2023 is presented below: Share options outstanding at Share options outstanding at (in thousands, except per share amounts) January 1, Granted Exercised Forfeited or Expired October 1, KKI Options 2,569 424 — — 2,993 Weighted Average Grant Date Fair Value $ 6.10 4.72 — — $ 5.90 Weighted Average Exercise Price $ 14.61 12.45 — — $ 14.30

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Oct. 01, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues are disaggregated as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Company Shops, DFD and Branded Sweet Treats $ 385,810 $ 353,979 $ 1,166,052 $ 1,060,364 Mix and equipment revenue from franchisees 12,935 16,237 43,715 41,681 Franchise royalties and other 8,622 7,306 25,432 23,254 Total net revenues $ 407,367 $ 377,522 $ 1,235,199 $ 1,125,299
Summary of Contract Balances with Customers	Deferred revenue and related receivables are as follows: October 1, 2023 January 1, 2023 Balance Sheet Location Trade receivables, net of allowances of $484 and $282, respectively $ 40,973 $ 40,131 Accounts receivables, net Deferred revenue: Current $ 18,736 $ 19,417 Accrued liabilities Noncurrent 5,591 3,946 Other long-term obligations and deferred credits Total deferred revenue $ 24,327 $ 23,363

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Oct. 01, 2023
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share, Basic and Diluted	The following table presents the calculations of basic and diluted EPS: Quarter Ended Three Quarters Ended (in thousands, except per share amounts) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Net loss attributable to Krispy Kreme, Inc. $ (40,457) $ (13,056) $ (40,535) $ (12,903) Adjustment to net loss attributable to common shareholders — — — (374) Net loss attributable to common shareholders - Basic $ (40,457) $ (13,056) $ (40,535) $ (13,277) Additional income attributed to noncontrolling interest due to subsidiary potential common shares (7) (76) (14) (174) Net loss attributable to common shareholders - Diluted $ (40,464) $ (13,132) $ (40,549) $ (13,451) Basic weighted average common shares outstanding 168,224 167,431 168,183 167,353 Dilutive effect of outstanding common stock options, RSUs, and PSUs — — — — Diluted weighted average common shares outstanding 168,224 167,431 168,183 167,353 Loss per share attributable to common shareholders: Basic $ (0.24) $ (0.08) $ (0.24) $ (0.08) Diluted $ (0.24) $ (0.08) $ (0.24) $ (0.08)
Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share	The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method): Quarter Ended Three Quarters Ended (in thousands) October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 KKI 6,444 5,779 6,444 5,779 KKUK 7 60 — 2 Insomnia Cookies 37 10 37 3 KK Australia — — — — KK Mexico — 60 — —

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 01, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The reportable segment results are as follows: Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Net revenues: U.S. $ 260,177 $ 246,830 $ 808,938 $ 739,414 International 106,130 91,934 294,750 272,988 Market Development 41,060 38,758 131,511 112,897 Total net revenues $ 407,367 $ 377,522 $ 1,235,199 $ 1,125,299 Quarter Ended Three Quarters Ended October 1, 2023 October 2, 2022 October 1, 2023 October 2, 2022 Segment Adjusted EBITDA: U.S. $ 22,258 $ 20,452 $ 88,878 $ 77,014 International 21,406 18,254 54,436 55,033 Market Development 13,371 11,797 46,071 36,642 Corporate (13,294) (11,961) (41,902) (33,879) Adjusted EBITDA 43,741 38,542 147,483 134,810 Interest expense, net 12,807 8,871 36,858 23,808 Income tax expense 24,367 294 17,121 5,668 Depreciation and amortization expense 32,007 28,127 89,142 83,782 Share-based compensation 7,452 2,825 17,821 13,318 Employer payroll taxes related to share-based compensation 96 2 310 92 Other non-operating expense, net (1) 971 1,648 3,031 2,083 Strategic initiatives (2) 5,895 86 23,841 206 Acquisition and integration expenses (3) 49 790 479 1,389 New market penetration expenses (4) 678 313 1,013 683 Shop closure (income)/expenses, net (5) (449) 5,735 356 7,859 Restructuring and severance expenses (6) 552 2,328 2,799 2,804 Gain on sale-leaseback — (1,937) (9,646) (4,311) Other (7) (426) 1,300 2,888 5,219 Net loss $ (40,258) $ (11,840) $ (38,530) $ (7,790) (1) Primarily foreign translation gains and losses in each period. (2) The quarter and three quarters ended October 1, 2023 consist primarily of costs associated with global transformation and U.S. initiatives such as the decision to exit the Branded Sweet Treats business, including property, plant and equipment impairments, inventory write-offs, employee severance, and other related costs. (3) Consists of acquisition and integration-related costs in connection with the Company’s business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period. (4) Consists of start-up costs associated with entry into new countries for which the Company’s brands have not previously operated, including the Insomnia Cookies brand entering Canada and the U.K. (5) Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment. The quarter and three quarters ended October 1, 2023 include gains related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. (6) The quarter and three quarters ended October 1, 2023 and October 2, 2022 consist primarily of costs associated with restructuring of the global executive team. (7) The quarter and three quarters ended October 1, 2023 and October 2, 2022 consist primarily of legal and other regulatory expenses incurred outside the ordinary course of business.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details)	9 Months Ended
	Oct. 01, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023 franchisee	Oct. 02, 2022 USD ($) franchisee store	Oct. 01, 2023 franchisee
Business Acquisition [Line Items]
Number of businesses acquired | franchisee	0		0
Krispy Kreme US Shops 2022
Business Acquisition [Line Items]
Number of businesses acquired | franchisee		1
Number of stores | store		7
Business Combination, Consideration Transferred		$ 19.4
Consideration transferred, cash		17.3
Consideration transferred, amount withheld to cover indemnification claims		1.2
Consideration transferred, settlement of liabilities		$ 0.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 20,779	$ 20,713
Work in progress	174	476
Finished goods and purchased merchandise (1)	14,110	25,050
Inventories	$ 35,063	$ 46,239

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2023	Oct. 01, 2023	Oct. 02, 2022
Inventory Disclosure [Abstract]
Inventory write-off	$ 300	$ 10,522	$ 388

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, net - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,087,908
Foreign currency impact	4,092
Ending balance	1,092,000
U.S.
Goodwill [Roll Forward]
Beginning balance	678,068
Foreign currency impact	0
Ending balance	678,068
International
Goodwill [Roll Forward]
Beginning balance	262,882
Foreign currency impact	3,963
Ending balance	266,845
Market Development
Goodwill [Roll Forward]
Beginning balance	146,958
Foreign currency impact	129
Ending balance	$ 147,087

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, net - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022	Jan. 01, 2023
Intangible assets with definite lives
Gross Carrying Amount	$ 435,604		$ 435,604		$ 435,134
Accumulated Amortization	(144,084)		(144,084)		(126,946)
Net Amount	291,520		291,520		308,188
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,093,547		1,093,547		1,093,034
Accumulated Amortization	(144,084)		(144,084)		(126,946)
Net Amount	949,463		949,463		966,088
Amortization of intangible assets	7,400	$ 7,100	22,000	$ 21,300
Trade names and trademarks
Intangible assets with indefinite lives
Trade names and trademarks	657,943		657,943		657,900
Franchise agreements
Intangible assets with definite lives
Gross Carrying Amount	30,389		30,389		30,632
Accumulated Amortization	(10,382)		(10,382)		(9,372)
Net Amount	20,007		20,007		21,260
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(10,382)		(10,382)		(9,372)
Customer relationships
Intangible assets with definite lives
Gross Carrying Amount	15,000		15,000		15,000
Accumulated Amortization	(6,197)		(6,197)		(5,548)
Net Amount	8,803		8,803		9,452
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(6,197)		(6,197)		(5,548)
Reacquired franchise rights (1)
Intangible assets with definite lives
Gross Carrying Amount	390,215		390,215		383,002
Accumulated Amortization	(127,505)		(127,505)		(105,526)
Net Amount	262,710		262,710		277,476
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(127,505)		(127,505)		(105,526)
Website development costs
Intangible assets with definite lives
Gross Carrying Amount	0		0		6,500
Accumulated Amortization	0		0		(6,500)
Net Amount	0		0		0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ 0		$ 0		$ (6,500)

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Assets
Operating lease	$ 448,569	$ 417,381
Finance lease	$ 34,255	$ 26,958
Finance lease assets, statement of financial position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Total leased assets	$ 482,824	$ 444,339
Current
Current operating lease liabilities	49,408	43,160
Current finance lease liabilities	$ 6,992	$ 5,034
Finance lease liabilities, current, statement of financial position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Noncurrent
Noncurrent operating lease liabilities	$ 441,732	$ 412,759
Noncurrent finance lease liabilities	$ 32,813	$ 27,549
Finance lease liabilities, noncurrent, statement of financial position [Extensible Enumeration]	Long-term debt, less current portion	Long-term debt, less current portion
Total leased liabilities	$ 530,945	$ 488,502

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Operating lease cost
Short-term lease cost	$ 1,512	$ 1,555	$ 4,057	$ 3,841
Variable lease costs	7,709	6,032	23,940	17,367
Sublease income	(35)	(35)	(105)	(175)
Amortization of right of use assets	2,020	1,405	5,385	3,348
Interest on lease liabilities	796	489	1,860	1,430
Selling, general and administrative expense
Operating lease cost
Operating lease cost	875	666	2,752	1,643
Operating expenses
Operating lease cost
Operating lease cost	$ 21,777	$ 20,605	$ 66,352	$ 64,262

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Cash paid for leases:
Operating cash flows for operating leases	$ 88,101	$ 77,122
Operating cash flows for finance leases	1,815	1,441
Financing cash flows for finance leases	7,552	2,930
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	57,469	31,246
Finance leases	13,435	4,549
Variable lease, payment	$ 23,900	$ 17,400

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023 USD ($) property	Oct. 02, 2022 USD ($)	Oct. 01, 2023 USD ($) property	Oct. 02, 2022 USD ($)	Jul. 02, 2023 property
Leases [Abstract]
Leases, termination costs		$ 4,400	$ 1,300	$ 4,400
Number of real estate properties | property	0		0		1
Proceeds from sale-leaseback		2,700	$ 10,025	5,700
Gain on sale-leaseback	$ 0	$ 1,937	$ 9,646	4,311
Sale and Leaseback Transaction, Gain (Loss), Net, excluding prior period catch-up				$ 4,500

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair value, recurring - USD ($)	Oct. 01, 2023	Jan. 01, 2023
Level 1
Assets:
401(k) mirror plan assets		$ 6,000
Total Assets	$ 0	6,000
Liabilities:
Total Liabilities		0
Level 1 | Interest rate derivatives
Assets:
Derivative assets	0
Level 1 | Commodity derivatives
Assets:
Derivative assets	0	0
Level 1 | Foreign currency derivatives
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities		0
Level 2
Assets:
401(k) mirror plan assets		0
Total Assets	4,177,000	10,975,000
Liabilities:
Total Liabilities		170,000
Level 2 | Interest rate derivatives
Assets:
Derivative assets	3,323,000	10,461,000
Level 2 | Commodity derivatives
Assets:
Derivative assets	363,000	514,000
Level 2 | Foreign currency derivatives
Assets:
Derivative assets	491,000
Liabilities:
Derivative liabilities		170,000
Level 3
Assets:
Total Assets	$ 0	$ 0

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) $ in Thousands, gal in Millions			3 Months Ended	9 Months Ended
	Jul. 02, 2023 gal	Jan. 01, 2023 USD ($) gal	Oct. 01, 2023 USD ($)	Oct. 01, 2023 USD ($)	Oct. 02, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Settlement of interest rate swap derivatives			$ 7,700	$ 7,657	$ 0
2023 Facility | Term Loan
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, amount of hedged item			505,000	505,000
Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value		$ 514	854	854
Derivative liability, fair value		170	0	0
Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value		$ 10,461	3,323	3,323
Commodity derivatives | Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount (in gallon) | gal	1.3	1.7
Derivative asset, fair value		$ 500	400	400
Interest rate derivatives | Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			265,000	265,000
Interest rate derivatives | Derivatives Designated as Hedging Instruments | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value		10,500	3,300	3,300
Foreign currency derivatives | Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value		200	500	500
Derivative, notional amount		$ 59,000	$ 57,100	$ 57,100
Interest Rate Contract, New Interest Rate Swap Agreement | Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fixed interest rate			4.38%	4.38%

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 854	$ 514
Derivative liability, fair value	0	170
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	3,323	10,461
Commodity derivatives | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	400	500
Foreign currency derivatives | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	500	200
Prepaid expense and other current assets | Commodity derivatives | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	363	514
Prepaid expense and other current assets | Foreign currency derivatives | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	491	0
Prepaid expense and other current assets | Interest rate derivatives | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	3,323	7,218
Accrued liabilities | Foreign currency derivatives | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	0	170
Other assets | Interest rate derivatives | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 0	$ 3,243

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	$ 2,946	$ (107)	$ 5,578	$ (4,478)
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	832	(911)	510	(494)
Interest rate derivatives | Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	2,946	(107)	5,578	(4,478)
Foreign currency derivatives | Other non-operating expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	599	678	661	423
Commodity derivatives | Other non-operating expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	$ 233	$ (1,589)	$ (151)	$ (917)

Vendor Finance Programs (Detail

Vendor Finance Programs (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2023	Jan. 01, 2023
Supplier Finance Program [Line Items]
Vendor finance program	$ 188,343	$ 263,001
Accounts Payable
Supplier Finance Program [Line Items]
Vendor finance program	99,505	159,426
Structured Payables
Supplier Finance Program [Line Items]
Vendor finance program	$ 88,838	$ 103,575
Supply Chain Financing Programs | KKI
Supplier Finance Program [Line Items]
Period of trade payables payment	180 days
Supply Chain Financing Programs | Vendors Under SCF Program
Supplier Finance Program [Line Items]
Period of trade payables payment	360 days

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (4,634)	$ (2,247)
Finance lease obligations	39,805	32,583
Total long-term debt	870,921	779,086
Less: Current portion of long-term debt	(43,492)	(40,034)
Long-term debt, less current portion	827,429	739,052
Credit Facility
Debt Instrument [Line Items]
Short-term lines of credit	1,500	0
Term Loan | 2023 Facility
Debt Instrument [Line Items]
Long-term debt, gross	691,250	0
Term Loan | 2019 Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	586,250
Credit Facility | 2023 Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	143,000	0
Credit Facility | 2019 Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 162,500

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) $ in Millions	1 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($) agreement	Oct. 01, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jan. 01, 2023 USD ($)
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25
Debt instrument, basis spread on variable rate	1.75%
Number of agreements | agreement	2
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Credit Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.10%
2023 Facility
Debt Instrument [Line Items]
Debt issuance costs, gross		$ 7.5
2023 Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		7.42%		4.44%
2023 Facility | Credit Spread Adjustment
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%
2023 Facility | Leverage Ratio equal to or exceeds 4.00 to 1.00 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
2023 Facility | Leverage Ratio less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2%
2023 Facility | Leverage Ratio less than 3.00 to 1.00 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
2023 Facility | Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 700
Derivative, amount of hedged item		$ 505
Debt instrument, interest rate, effective percentage		6.79%
Debt issuance costs, gross		$ 5.3
2019 Facility
Debt Instrument [Line Items]
Deferred debt issuance cost, writeoff		0.5
2019 Facility | Term Loan
Debt Instrument [Line Items]
Derivative, amount of hedged item				$ 505
Debt instrument, interest rate, effective percentage				5.45%
Revolving Credit Facility | 2023 Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 300
Debt issuance costs, gross		$ 2.2

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option plan expense	$ 0.9	$ 0.3	$ 2.7	$ 1.9
KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested (in shares)			0	0
Stock option exercised (in shares)			0	0
Restricted Stock Units (RSUs), Sixty Month Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	60 months
Award vesting period	60 months
Restricted Stock Units (RSUs), Sixty Month Vesting Period | Share-based payment arrangement, tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	60%
Award vesting rights, percentage	60%
Restricted Stock Units (RSUs), Sixty Month Vesting Period | Share-based payment arrangement, tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	20%
Award vesting rights, percentage	20%
Restricted Stock Units (RSUs), Sixty Month Vesting Period | Share-based payment arrangement, tranche three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	20%
Award vesting rights, percentage	20%
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense	$ 6.5	$ 2.5	$ 15.1	$ 11.4
Granted (in shares)	2,500,000
Granted (in shares)	2,500,000
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) | KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			2,502,000
Granted (in shares)			2,502,000
Performance Stock Units (PSUs), Twelve Month Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Requisite Service Period	1 year
Performance Stock Units (PSUs), Thirty-six Month Vesting Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Requisite Service Period	3 years
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	700,000
Granted (in shares)	700,000
Performance Stock Units (PSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Performance Score, Target Amounts	0%
Share-based Compensation Arrangement by Share-based Payment Award, Performance Score, Target Amounts	0%
Performance Stock Units (PSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Performance Score, Target Amounts	200%
Share-based Compensation Arrangement by Share-based Payment Award, Performance Score, Target Amounts	200%

Share-based Compensation - Sche

Share-based Compensation - Schedule of RSU Activity (Details) - $ / shares shares in Thousands	3 Months Ended	9 Months Ended
	Oct. 01, 2023	Oct. 01, 2023
Restricted Stock Units (RSUs) | KKUK
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares)		60
Granted (in shares)		0
Vested (in shares)		50
Forfeited (in shares)		3
Ending balance, non-vested shares outstanding (in shares)	7	7
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share)		$ 15.77
Granted, weighted average grant date fair value (in USD per share)		0
Vested, weighted average grant date fair value (in USD per share)		13.41
Forfeited, weighted average grant date fair value (in USD per share)		21.21
Ending balance, non-vested shares outstanding (in USD per share)	$ 29.80	$ 29.80
Restricted Stock Units (RSUs) | Insomnia Cookies
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares)		38
Granted (in shares)		0
Vested (in shares)		0
Forfeited (in shares)		1
Ending balance, non-vested shares outstanding (in shares)	37	37
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share)		$ 101.54
Granted, weighted average grant date fair value (in USD per share)		0
Vested, weighted average grant date fair value (in USD per share)		0
Forfeited, weighted average grant date fair value (in USD per share)		128.94
Ending balance, non-vested shares outstanding (in USD per share)	$ 100.73	$ 100.73
Restricted Stock Units (RSUs) | KK Australia
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares)		354
Granted (in shares)		0
Vested (in shares)		169
Forfeited (in shares)		0
Ending balance, non-vested shares outstanding (in shares)	185	185
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share)		$ 1.47
Granted, weighted average grant date fair value (in USD per share)		0
Vested, weighted average grant date fair value (in USD per share)		1.36
Forfeited, weighted average grant date fair value (in USD per share)		0
Ending balance, non-vested shares outstanding (in USD per share)	$ 1.57	$ 1.57
Restricted Stock Units (RSUs) | KK Mexico
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares)		60
Granted (in shares)		0
Vested (in shares)		0
Forfeited (in shares)		40
Ending balance, non-vested shares outstanding (in shares)	20	20
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share)		$ 33.08
Granted, weighted average grant date fair value (in USD per share)		0
Vested, weighted average grant date fair value (in USD per share)		0
Forfeited, weighted average grant date fair value (in USD per share)		34.58
Ending balance, non-vested shares outstanding (in USD per share)	$ 30.18	$ 30.18
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs
Granted (in shares)	2,500
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) | KKI
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares)		4,946
Granted (in shares)		2,502
Vested (in shares)		615
Forfeited (in shares)		389
Ending balance, non-vested shares outstanding (in shares)	6,444	6,444
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share)		$ 14.23
Granted, weighted average grant date fair value (in USD per share)		14.80
Vested, weighted average grant date fair value (in USD per share)		11.66
Forfeited, weighted average grant date fair value (in USD per share)		14.97
Ending balance, non-vested shares outstanding (in USD per share)	$ 14.65	$ 14.65

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of RSU Unrecognized Compensation Expense (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2023 USD ($)
Restricted Stock Units (RSUs) | KKUK
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 111
Recognized Over a Weighted-Average Period of	2 years 8 months 12 days
Restricted Stock Units (RSUs) | Insomnia Cookies
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 1,700
Recognized Over a Weighted-Average Period of	1 year 10 months 24 days
Restricted Stock Units (RSUs) | KK Australia
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 102
Recognized Over a Weighted-Average Period of	1 year 9 months 18 days
Restricted Stock Units (RSUs) | KK Mexico
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 297
Recognized Over a Weighted-Average Period of	1 year 10 months 24 days
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) | KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 61,809
Recognized Over a Weighted-Average Period of	3 years

Share-based Compensation - Sc_3

Share-based Compensation - Schedule of Stock Option Activity (Details) - KKI - $ / shares	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Options
Beginning balance, share options outstanding (in shares)	2,569,000
Granted (in shares)	424,000
Exercised (in shares)	0	0
Forfeited or expired (in shares)	0
Ending balance, share options outstanding (in shares)	2,993,000
Weighted Average Grant Date Fair Value
Beginning balance, share options outstanding (in USD per share)	$ 6.10
Granted (in USD per share)	4.72
Exercised (in USD per share)	0
Forfeited or expired (in USD per share)	0
Ending balance, share options outstanding (in USD per share)	5.90
Weighted Average Exercise Price
Beginning balance, share options outstanding (in USD per share)	14.61
Granted (in USD per share)	12.45
Exercised (in USD per share)	0
Forfeited or expired (in USD per share)	0
Ending balance, share options outstanding (in USD per share)	$ 14.30

Share-based Compensation - Sc_4

Share-based Compensation - Schedule of Stock Option Unrecognized Compensation Expense (Details) - Share-based Payment Arrangement, Option - KKI $ in Thousands	9 Months Ended
	Oct. 01, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 9,095
Recognized Over a Weighted-Average Period of	2 years 7 months 6 days

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	(153.30%)	(2.50%)	(80.00%)	(267.10%)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Oct. 01, 2023	Jan. 01, 2023
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 15.4	$ 11.1

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	Oct. 01, 2023 USD ($) equity_method_investment	Jan. 01, 2023 USD ($)
Related Party Transaction [Line Items]
Number of franchisees | equity_method_investment	3,000,000
Equity Method Investee
Related Party Transaction [Line Items]
Equity method investments | $	$ 1.3	$ 1.9
KremeWorks USA, LLC
Related Party Transaction [Line Items]
Ownership percentage	20%
KremeWorks Canada, L.P.
Related Party Transaction [Line Items]
Ownership percentage	25%
Krispy Kreme France
Related Party Transaction [Line Items]
Ownership percentage	33%

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Disaggregation of Revenue [Line Items]
Total net revenues	$ 407,367	$ 377,522	$ 1,235,199	$ 1,125,299
Company Shops, DFD and Branded Sweet Treats
Disaggregation of Revenue [Line Items]
Total net revenues	385,810	353,979	1,166,052	1,060,364
Mix and equipment revenue from franchisees
Disaggregation of Revenue [Line Items]
Total net revenues	12,935	16,237	43,715	41,681
Franchise royalties and other
Disaggregation of Revenue [Line Items]
Total net revenues	$ 8,622	$ 7,306	$ 25,432	$ 23,254

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Contract Balances with Customers (Details) - USD ($) $ in Thousands	Oct. 01, 2023	Jan. 01, 2023
Revenue from Contract with Customer [Abstract]
Trade receivables, net of allowances of $484 and $282, respectively	$ 40,973	$ 40,131
Trade receivables, allowance for credit loss	484	282
Deferred revenue:
Current	18,736	19,417
Noncurrent	5,591	3,946
Total deferred revenue	$ 24,327	$ 23,363

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Net Loss Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
Earnings Per Share [Abstract]
Net loss attributable to Krispy Kreme, Inc.	$ (40,457)	$ (13,056)	$ (40,535)	$ (12,903)
Adjustment to net loss attributable to common shareholders	0	0	0	(374)
Net loss attributable to common shareholders - Basic	(40,457)	(13,056)	(40,535)	(13,277)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	(7)	(76)	(14)	(174)
Net loss attributable to common shareholders - Diluted	$ (40,464)	$ (13,132)	$ (40,549)	$ (13,451)
Basic weighted average common shares outstanding (in shares)	168,224,000	167,431,000	168,183,000	167,353,000
Dilutive effect of outstanding common stock options and RSUs (in shares)	0	0	0	0
Diluted weighted average common shares outstanding (in shares)	168,224,000	167,431,000	168,183,000	167,353,000
Net loss per share:
Basic earnings/(loss) per share (in dollars per shares)	$ (0.24)	$ (0.08)	$ (0.24)	$ (0.08)
Diluted earnings/(loss) per share (in dollars per shares)	$ (0.24)	$ (0.08)	$ (0.24)	$ (0.08)

Net Loss per Share - Schedule_2

Net Loss per Share - Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share (Details) - Restricted Stock Units (RSUs) - shares	3 Months Ended		9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022	Oct. 01, 2023	Oct. 02, 2022
KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	6,444,000	5,779,000	6,444,000	5,779,000
KKUK
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	7,000	60,000	0	2,000
Insomnia Cookies
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	37,000	10,000	37,000	3,000
KK Australia
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	0	0	0
KK Mexico
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	60,000	0	0

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Details) - shares shares in Millions	9 Months Ended
	Oct. 01, 2023	Oct. 02, 2022
Share-based Payment Arrangement, Option | KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	3	2.6

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 01, 2023 USD ($)	Jul. 02, 2023 USD ($)	Apr. 02, 2023 USD ($)	Oct. 02, 2022 USD ($)	Jul. 03, 2022 USD ($)	Apr. 03, 2022 USD ($)	Oct. 01, 2023 USD ($) segment	Oct. 02, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment							3
Total net revenues	$ 407,367			$ 377,522			$ 1,235,199	$ 1,125,299
Segment adjusted EBITDA	43,741			38,542			147,483	134,810
Interest expense, net	12,807			8,871			36,858	23,808
Income tax expense	24,367			294			17,121	5,668
Depreciation and amortization expense	32,007			28,127			89,142	83,782
Share-based compensation	7,452			2,825			17,821	13,318
Employer payroll taxes related to share-based compensation	96			2			310	92
Other non-operating expense, net	971			1,648			3,031	2,083
Strategic initiatives	5,895			86			23,841	206
Acquisition and integration expenses	49			790			479	1,389
New market penetration expenses	678			313			1,013	683
Shop closure expenses	(449)			5,735			356	7,859
Restructuring and severance expenses	552			2,328			2,799	2,804
Gain on sale-leaseback	0			(1,937)			(9,646)	(4,311)
Other	(426)			1,300			2,888	5,219
Net loss	(40,258)	$ 84	$ 1,644	(11,840)	$ (2,408)	$ 6,458	(38,530)	(7,790)
Corporate
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	(13,294)			(11,961)			(41,902)	(33,879)
U.S.
Segment Reporting Information [Line Items]
Total net revenues	260,177			246,830			808,938	739,414
U.S. | Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	22,258			20,452			88,878	77,014
International
Segment Reporting Information [Line Items]
Total net revenues	106,130			91,934			294,750	272,988
International | Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	21,406			18,254			54,436	55,033
Market Development
Segment Reporting Information [Line Items]
Total net revenues	41,060			38,758			131,511	112,897
Market Development | Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	$ 13,371			$ 11,797			$ 46,071	$ 36,642