The Marcus Corporation (MCS) 10-K 27 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 26, 2024	Feb. 25, 2025	Jun. 27, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 26, 2024
Current Fiscal Year End Date	--12-26
Document Transition Report	false
Entity File Number	1-12604
Entity Registrant Name	MARCUS CORP
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1139844
Entity Address, Address Line One	111 East Kilbourn Avenue
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202-6628
City Area Code	414
Local Phone Number	905-1000
Title of 12(b) Security	Common stock, $1.00 par value
Trading Symbol	MCS
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 218,000,340
Entity Central Index Key	0000062234
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for its 2025 annual meeting of shareholders, which will be filed with the Commission under Regulation 14A within 120 days after the end of our fiscal year, will be incorporated by reference into Part III to the extent indicated therein upon such filing.
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		24,764,638
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,984,584

Audit Information

Audit Information	12 Months Ended
	Dec. 26, 2024
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Milwaukee, Wisconsin
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
CURRENT ASSETS:
Cash and cash equivalents (Note 1)	$ 40,841	$ 55,589
Restricted cash (Note 1)	3,738	4,249
Accounts receivable, net of reserves (Note 5)	21,457	19,703
Assets held for sale (Note 1)	1,199	0
Other current assets (Note 1)	24,915	22,175
Total current assets	92,150	101,716
PROPERTY AND EQUIPMENT, NET (Note 5)	685,734	682,262
OPERATING LEASE RIGHT-OF-USE ASSETS (Note 7)	159,194	179,788
OTHER ASSETS:
Investments in joint ventures (Note 12)	5,166	1,718
Goodwill (Note 1)	74,996	74,996
Deferred income taxes (Note 10)	3,956	0
Other (Note 5)	23,332	24,623
Total other assets	107,450	101,337
Total assets	1,044,528	1,065,103
CURRENT LIABILITIES:
Accounts payable	50,690	37,384
Taxes other than income taxes	18,696	18,585
Accrued compensation	24,976	22,598
Other accrued liabilities (Note 1)	53,830	57,685
Current portion of finance lease obligations (Note 7)	2,591	2,579
Current portion of operating lease obligations (Note 7)	15,765	15,290
Current maturities of long-term debt (Note 6)	10,133	10,303
Total current liabilities	176,681	164,424
FINANCE LEASE OBLIGATIONS (Note 7)	10,360	12,753
OPERATING LEASE OBLIGATIONS (Note 7)	164,776	178,582
LONG-TERM DEBT (Note 6)	149,007	159,548
DEFERRED INCOME TAXES (Note 10)	32,619	32,235
OTHER LONG- TERM OBLIGATIONS (Note 9)	46,219	46,389
COMMITMENTS AND LICENSE RIGHTS (Note 11)
Shareholders’ equity attributable to The Marcus Corporation
Preferred Stock, $1 par; authorized 1,000,000 shares; none issued	0	0
Capital in excess of par	177,172	160,642
Retained earnings	265,028	281,599
Accumulated other comprehensive loss	(181)	(1,336)
Stockholders' equity before treasury stock	474,241	472,675
Less cost of Common Stock in treasury (604,914 shares at December 26, 2024 and 47,916 shares at December 28, 2023)	(9,375)	(1,503)
Total shareholders’ equity attributable to The Marcus Corporation	464,866	471,172
Total liabilities and shareholders’ equity	1,044,528	1,065,103
Common Stock
Shareholders’ equity attributable to The Marcus Corporation
Common stock	25,237	24,692
Class B Common Stock
Shareholders’ equity attributable to The Marcus Corporation
Common stock	$ 6,985	$ 7,078

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 26, 2024	Dec. 28, 2023
Preferred stock, par (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Treasury stock (in shares)	604,914	47,916
Common Stock
Common stock, par (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	25,237,374	24,691,548
Class B Common Stock
Common stock, par (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	33,000,000	33,000,000
Common stock, issued (in shares)	6,984,584	7,078,410
Common stock, outstanding (in shares)	6,984,584	7,078,410

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
REVENUES:
Revenues other than cost reimbursements	$ 695,086	$ 692,155	$ 643,760
Cost reimbursements	40,474	37,420	33,634
Total revenues	735,560	729,575	677,394
COSTS AND EXPENSES:
Advertising and marketing	24,559	22,838	23,877
Administrative	88,958	78,565	74,755
Depreciation and amortization	67,958	67,301	67,073
Rent (Note 7)	25,911	26,154	26,037
Property taxes	14,716	17,871	17,955
Other operating expenses (Note 2)	42,269	38,824	37,865
Impairment charges (Note 3)	6,823	1,061	1,525
Reimbursed costs	40,474	37,420	33,634
Total costs and expenses	719,390	695,649	669,088
OPERATING INCOME	16,170	33,926	8,306
OTHER INCOME (EXPENSE):
Investment income (loss)	2,231	2,426	(45)
Interest expense	(10,972)	(12,721)	(15,299)
Other income (expense), net	(1,513)	(1,832)	(1,060)
Gain on sale of hotel	$ 0	0	6,274
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	Gain on sale of hotel
Debt conversion expense	$ (15,521)	0	0
Equity losses from unconsolidated joint ventures, net (Note 12)	(604)	(149)	(143)
Nonoperating expense	(26,379)	(12,276)	(10,273)
EARNINGS (LOSS) BEFORE INCOME TAXES	(10,209)	21,650	(1,967)
INCOME TAX EXPENSE (BENEFIT) (Note 10)	(2,422)	6,856	7,137
NET EARNINGS (LOSS)	(7,787)	14,794	(9,104)
NET EARNINGS ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0	2,868
NET EARNINGS (LOSS) ATTRIBUTABLE TO THE MARCUS CORPORATION	$ (7,787)	$ 14,794	$ (11,972)
Common Stock
NET EARNINGS (LOSS) PER SHARE – BASIC:
Common stock (in dollars per share)	$ (0.25)	$ 0.48	$ (0.39)
NET EARNINGS (LOSS) PER SHARE – DILUTED:
Common stock (in dollars per share)	(0.25)	0.46	(0.39)
Class B Common Stock
NET EARNINGS (LOSS) PER SHARE – BASIC:
Common stock (in dollars per share)	(0.23)	0.43	(0.35)
NET EARNINGS (LOSS) PER SHARE – DILUTED:
Common stock (in dollars per share)	$ (0.23)	$ 0.43	$ (0.35)
Theatre admissions
REVENUES:
Revenue from contract with customer	$ 214,421	$ 229,186	$ 198,485
Rooms
REVENUES:
Revenue from contract with customer	113,344	106,618	107,699
COSTS AND EXPENSES:
Cost of goods and services sold	43,425	41,071	41,561
Theatre concessions
REVENUES:
Revenue from contract with customer	191,989	197,653	180,180
COSTS AND EXPENSES:
Cost of goods and services sold	78,406	75,903	73,124
Food and beverage
REVENUES:
Revenue from contract with customer	78,102	73,278	74,836
COSTS AND EXPENSES:
Cost of goods and services sold	60,419	57,871	59,272
Other revenues
REVENUES:
Revenue from contract with customer	97,230	85,420	82,560
Theatre operations
COSTS AND EXPENSES:
Cost of goods and services sold	$ 225,472	$ 230,770	$ 212,410

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Statement of Comprehensive Income [Abstract]
NET EARNINGS (LOSS)	$ (7,787)	$ 14,794	$ (9,104)
OTHER COMPREHENSIVE INCOME (LOSS):
Pension gain arising during the period, net of tax effect of $425, $171 and $2,967, respectively (Note 9)	1,202	485	8,401
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect (benefit) of $(17), $(17) and $269, respectively (Note 9)	(47)	(47)	760
Fair market value adjustment of interest rate swaps, net of tax effect (benefit) of $0, $(8) and $144, respectively (Note 6)	0	(22)	407
Reclassification adjustment on interest rate swaps included in interest expense, net of tax effect (benefit) of $0, $(20) and $64 respectively (Note 6)	0	(58)	182
Other comprehensive income	1,155	358	9,750
COMPREHENSIVE INCOME (LOSS)	(6,632)	15,152	646
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	0	0	2,868
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE MARCUS CORPORATION	$ (6,632)	$ 15,152	$ (2,222)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Statement of Comprehensive Income [Abstract]
Pension gain (loss) arising during the period, tax effect (benefit)	$ 425	$ 171	$ 2,967
Amortization of the net actuarial loss and prior service credit related to the pension, net of tax effect (benefit)	(17)	(17)	269
Fair market value adjustment of interest rate swap, net of tax effect (benefit)	0	(8)	144
Reclassification adjustment on interest rate swaps included in interest expense, tax effect (benefit)	$ 0	$ (20)	$ 64

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class B Common Stock	Shareholders' Equity Attributable to The Marcus Corporation	Shareholders' Equity Attributable to The Marcus Corporation Class B Common Stock	Common Stock	Common Stock Class B Common Stock	Capital in Excess of Par	Retained Earnings	Retained Earnings Class B Common Stock	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Non-Controlling Interests
Beginning balance at Dec. 30, 2021	$ 453,614		$ 453,614		$ 24,345	$ 7,130	$ 145,656	$ 289,306		$ (11,444)	$ (1,379)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(2,440)	$ (640)	(2,440)	$ (640)				(2,440)	$ (640)
Exercise of stock options	893		893				(196)				1,089
Purchase of treasury stock	(2,286)		(2,286)								(2,286)
Savings and profit-sharing contribution	956		956		56		900
Reissuance of treasury stock	52		52				(5)				57
Issuance of non-vested stock	0				78		(731)				653
Share-based compensation	8,170		8,170				8,170
Conversions of Class B Common Stock	0				19	(19)
Distribution to noncontrolling interest	(2,044)											(2,044)
Comprehensive income (loss)	646		(2,222)					(11,972)		9,750		2,868
Ending balance at Dec. 29, 2022	456,921		456,097		24,498	7,111	153,794	274,254		(1,694)	(1,866)	824
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(5,906)	(1,543)	(5,906)	(1,543)				(5,906)	(1,543)
Exercise of stock options	1,085		1,085				(210)				1,295
Purchase of treasury stock	(1,453)		(1,453)								(1,453)
Savings and profit-sharing contribution	1,259		1,259		79		1,180
Reissuance of treasury stock	87		87				(213)				300
Issuance of non-vested stock	0				82		(303)				221
Share-based compensation	6,394		6,394				6,394
Conversions of Class B Common Stock	0				33	(33)
Distribution to noncontrolling interest	(824)											(824)
Comprehensive income (loss)	15,152		15,152					14,794		358
Ending balance at Dec. 28, 2023	471,172		471,172		24,692	7,078	160,642	281,599		(1,336)	(1,503)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends	(6,994)	$ (1,790)	(6,994)	$ (1,790)				(6,994)	$ (1,790)
Exercise of stock options	1,984		1,984				52				1,932
Purchase of treasury stock	(10,366)		(10,366)								(10,366)
Reissuance of treasury stock	68		68				(285)				353
Issuance of non-vested stock	0				452		(661)				209
Share-based compensation	8,206		8,206				8,206
Convertible senior note repurchase	(8,423)		(8,423)				(8,423)
Capped call unwind	17,641		17,641				17,641
Conversions of Class B Common Stock	0				93	(93)
Comprehensive income (loss)	(6,632)		(6,632)					(7,787)		1,155
Ending balance at Dec. 26, 2024	$ 464,866		$ 464,866		$ 25,237	$ 6,985	$ 177,172	$ 265,028		$ (181)	$ (9,375)	$ 0

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Class B Common Stock
Common stock, dividends (in dollars per share)	$ 0.28	$ 0.22	$ 0.09
Common Stock
Common stock, dividends (in dollars per share)	$ 0.26	$ 0.24	$ 0.10

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
OPERATING ACTIVITIES
Net Earnings (loss)	$ (7,787)	$ 14,794	$ (9,104)
Adjustments to reconcile net loss to net cash provided by operating activities:
Losses on investments in joint ventures	604	149	143
Distributions from joint ventures	68	200	125
(Gain) loss on disposition of property, equipment and other assets	386	41	(1,071)
Gain on sale of hotel	0	0	(6,274)
Impairment charges	6,823	1,061	1,525
Debt conversion expense	15,521	0	0
Depreciation and amortization	67,958	67,301	67,073
Amortization of debt issuance costs	1,080	1,467	1,614
Share-based compensation	8,206	6,394	8,170
Deferred income taxes	(3,981)	5,561	7,033
Other long-term obligations	1,854	(95)	(209)
Contribution of the Company’s stock to savings and profit-sharing plan	0	1,259	956
Changes in operating assets and liabilities:
Accounts receivable	(1,754)	1,893	6,838
Government grants receivable	0	0	4,335
Other assets	1,158	(2,662)	(1,874)
Operating leases	4,605	(785)	(1,768)
Accounts payable	10,434	4,229	(3,262)
Income taxes	131	(480)	22,722
Taxes other than income taxes	111	637	(1,621)
Accrued compensation	2,378	63	2,038
Other accrued liabilities	(3,855)	1,602	(4,180)
Total adjustments	111,727	87,835	102,313
Net cash provided by operating activities	103,940	102,629	93,209
INVESTING ACTIVITIES
Capital expenditures	(79,210)	(38,774)	(36,843)
Proceeds from disposals of property, equipment and other assets	3,121	4,234	4,850
Net proceeds from sale of hotel	0	0	31,101
Capital contribution in joint venture	(5,620)	0	0
Subscription and sale of joint venture interests	1,500	0	0
Proceeds from sale of trading securities	178	40	141
Purchase of trading securities	(2,249)	(839)	(263)
Property insurance recoveries	0	0	1,215
Other investing activities	382	(1,410)	(547)
Net cash used in investing activities	(81,898)	(36,749)	(346)
Debt transactions:
Proceeds from borrowings on revolving credit facility	119,000	38,000	100,000
Repayment of borrowings on revolving credit facility	(119,000)	(38,000)	(100,000)
Proceeds from issuance of long-term debt	100,000	0	0
Repayment on short-term borrowings	0	0	(47,499)
Principal payments on long-term debt	(11,370)	(11,433)	(35,740)
Repayment of borrowing on insurance policy	0	(6,700)	0
Repurchase of convertible senior notes	(123,526)	0	0
Proceeds from capped call unwind	18,281	0	0
Principal payments on finance lease obligations	(2,470)	(2,527)	(2,670)
Debt issuance costs	(1,119)	(1,334)	(37)
Equity transactions:
Treasury stock transactions, except for stock options	(9,987)	(503)	(1,467)
Exercise of stock options	1,674	222	126
Dividends paid	(8,784)	(7,449)	(3,080)
Distributions to noncontrolling interest	0	(824)	(2,044)
Net cash used in financing activities	(37,301)	(30,548)	(92,411)
Net increase (decrease) in cash, cash equivalents and restricted cash	(15,259)	35,332	452
Cash, cash equivalents and restricted cash at beginning of year	59,838	24,506	24,054
Cash, cash equivalents and restricted cash at end of year	44,579	59,838	24,506
Supplemental Information:
Interest paid, net of amounts capitalized	8,683	9,738	13,442
Income taxes refunded (paid), including interest earned	(1,428)	(1,776)	21,935
Change in accounts payable for additions to property and equipment	$ 2,872	$ 956	$ (348)

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 26, 2024
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	1. Description of Business and Summary of Significant Accounting Policies Description of Business - The Marcus Corporation and its subsidiaries (the “Company”) operate principally in two business segments: Theatres: Operates multiscreen motion picture theatres in Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia and a family entertainment center in Wisconsin. Hotels and Resorts: Owns and operates full service hotels and resorts in Wisconsin, Illinois and Nebraska and manages full service hotels, resorts and other properties in Wisconsin, Illinois, Minnesota, Iowa, Nevada, Pennsylvania, California and Nebraska. Principles of Consolidation - The consolidated financial statements include the accounts of The Marcus Corporation and all of its subsidiaries. The Company had ownership interests greater than 50% in one joint venture that was considered a Variable Interest Entity (VIE) that was also included in the accounts of the Company. The primary asset of this VIE, The Skirvin Hilton, was sold on December 16, 2022 as discussed in Note 4 - Asset Sale. Investments in affiliates which are 50% or less owned by the Company for which the Company exercises significant influence but does not have control are accounted for on the equity method. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates - The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Cash Equivalents - The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Amounts due from third-party credit card processors for the settlement of debit and credit card transactions are included in cash equivalents as they are generally collected within three Restricted Cash - Restricted cash consists of bank accounts related to capital expenditure reserve funds, sinking funds, operating reserves and replacement reserves and may include amounts held by a qualified intermediary agent to be used for tax-deferred, like-kind exchange transactions. Restricted cash also includes funds held within the Company's captive insurance entity that are designated to pay expenses related specifically to the captive. Fair Value Measurements - Certain financial assets and liabilities are recorded at fair value in the financial statements. Some are measured on a recurring basis while others are measured on a non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. A fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 - Assets or liabilities for which fair value is based on quoted prices in active markets for identical instruments as of the reporting date. At December 26, 2024 and December 28, 2023, respectively, the Company’s $8,142 and $5,364 of debt and equity securities classified as trading were valued using Level 1 pricing inputs and were included in other current assets. At December 26, 2024 and December 28, 2023, the Company had investments in money market funds of $19,002 and $37,018, respectively, that were valued using Level 1 pricing inputs and were included in cash and cash equivalents. Level 2 - Assets or liabilities for which fair value is based on valuation models for which pricing inputs were either directly or indirectly observable as of the reporting date. At each of December 26, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities were measured using Level 2 pricing inputs. Level 3 - Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. At each of December 26, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities that are measured on a recurring basis at fair market value were valued using Level 3 pricing inputs. Assets and liabilities that are measured on a non-recurring basis are discussed in Note 3. The carrying value of the Company’s financial instruments (including cash and cash equivalents, restricted cash, accounts receivable and accounts payable) approximates fair value. The fair value of the Company’s $160,000 of senior notes, valued using Level 2 pricing inputs, is approximately $157,155 at December 26, 2024, determined based upon discounted cash flows using current market interest rates for financial instruments with a similar average remaining life. The carrying amounts of the Company’s remaining long-term debt approximate their fair values, determined using current rates for similar instruments, or Level 2 pricing inputs. Accounts Receivable - The Company evaluates the collectability of its accounts receivable based on a number of factors. For larger accounts, an allowance for doubtful accounts is recorded based on the applicable parties’ ability and likelihood to pay based on management’s review of the facts. For all other accounts, the Company recognizes an allowance based on length of time the receivable is past due based on historical experience and industry practice. Inventory - Inventories, consisting of food and beverage and concession items, are stated at the lower of cost or market. Cost has been determined using the first-in, first-out method. Inventories of $6,971 and $5,914 as of December 26, 2024 and December 28, 2023, respectively, were included in other current assets. Assets Held for Sale – Long-lived assets that are expected to be sold within the next 12 months and meet the other relevant held-for-sale criteria are classified as assets held for sale and included within current assets on the consolidated balance sheet. Assets held for sale are measured at the lower of their carrying value or their fair value less costs to sell the asset. As of December 26, 2024, assets held for sale consisted primarily of land. Property and Equipment - The Company records property and equipment at cost. Major renewals and improvements are capitalized, while maintenance and repairs that do not improve or extend the lives of the respective assets are expensed currently. Included in property and equipment are assets related to finance leases. These assets are depreciated over the shorter of the estimated useful lives or related lease terms. Depreciation and amortization of property and equipment are provided using the straight-line method over the shorter of the following estimated useful lives or any related lease terms: Years Land improvements 10 - 20 Buildings and improvements 12 - 39 Leasehold improvements 3 - 40 Furniture, fixtures and equipment 2 - 20 Finance lease right-of-use assets 4 - 15 Depreciation expense totaled $67,964, $67,269 and $67,041 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Long-Lived Assets - The Company periodically considers whether indicators of impairment of long-lived assets held for use are present. This includes quantitative and qualitative factors, including evaluating the historical actual operating performance of the long-lived assets and assessing the potential impact of recent events and transactions impacting the long-lived assets. If such indicators are present, the Company determines if the long-lived assets are recoverable by assessing whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amounts. If the long-lived assets are not recoverable, the Company recognizes any impairment losses based on the excess of the carrying amount of the assets over their fair value. During fiscal 2024, fiscal 2023 and fiscal 2022, the Company determined that indicators of impairment were present. As such, the Company evaluated the value of its property and equipment and the value of its operating lease right-of-use assets and recorded impairment charges as discussed in Note 3. Acquisition - The Company recognizes identifiable assets acquired, liabilities assumed and noncontrolling interests assumed in an acquisition at their fair values at the acquisition date based upon all information available to it, including third-party appraisals. Acquisition-related costs, such as due diligence and legal fees, are expensed as incurred. The excess of the acquisition cost over the fair value of the identifiable net assets is reported as goodwill. Goodwill - The Company reviews goodwill for impairment annually or more frequently if certain indicators arise. The Company performs its annual impairment test on the first day of the fiscal fourth quarter. Goodwill is tested for impairment at a reporting unit level, determined to be at an operating segment level. When reviewing goodwill for impairment, the Company considers the amount of excess fair value over the carrying value of the reporting unit, the period of time since its last quantitative test, and other factors to determine whether or not to first perform a qualitative test. When performing a qualitative test, the Company assesses numerous factors to determine whether it is more likely than not that the fair value of its reporting unit is less than its carrying value. Examples of qualitative factors that the Company assesses include its share price, its financial performance, market and competitive factors in its industry, and other events specific to the reporting unit. If the Company concludes that it is more likely than not that the fair value of its reporting unit is less than it carrying value, the Company performs a quantitative impairment test by comparing the carrying value of the reporting unit to the estimated fair value. During fiscal 2024 and fiscal 2023, the Company performed a quantitative analysis for its annual goodwill impairment test as of September 27, 2024 and September 29, 2023, respectively. In order to determine fair value, the Company used assumptions based on information available to it as of the date of the quantitative test, including both market data and forecasted cash flows (Level 3 pricing inputs). The Company determined that the fair value of its goodwill was greater than its carrying value and deemed that no impairment was indicated in either fiscal 2024 or fiscal 2023. At December 26, 2024 and December 28, 2023, the Company’s goodwill balance was $74,996. Trade Name Intangible Asset – The Company recorded a trade name intangible asset in conjunction with the Movie Tavern acquisition that was determined to have an indefinite life. The Company reviews its trade name intangible asset for impairment at least annually or whenever events or changes in circumstances indicate the carrying value may not be fully recoverable. Capitalization of Interest - The Company capitalizes interest during construction periods by adding such interest to the cost of constructed assets. Interest of approximately $195, $43 and $18 was capitalized in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Debt Issuance Costs - The Company records debt issuance costs on short-term borrowings and long-term debt as a direct deduction from the related debt liability. Debt issuance costs related to the Company’s revolving credit facility are included in other long-term assets. Debt issuance costs are deferred and amortized over the term of the related debt agreements. Amortization of debt issuance costs totaled $1,080, $1,467 and $1,614 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively, and were included in interest expense on the consolidated statements of operations. Leases - The Company follows Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-02, Leases , (Accounting Standards Codification (ASC) 842), when accounting for leases. See Note 7 - Leases. Investments – The Company has investments in debt and equity securities. These securities are stated at fair value based on listed market prices, where available, with the change in fair value recorded as investment income or loss within the consolidated statements of operations. The cost of securities sold is based upon the specific identification method. Revenue Recognition - The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers . See Note 2 - Revenue Recognition. Advertising and Marketing Costs - The Company expenses all advertising and marketing costs as incurred. Insurance Reserves - The Company uses a combination of insurance and self insurance mechanisms, including participation in captive insurance entities, to provide for the potential liabilities for certain risks, including workers’ compensation, healthcare benefits, general liability, property insurance, director and officers’ liability insurance, cyber liability, employment practices liability and business interruption. Liabilities associated with the risks that are retained by the company are not discounted and are estimated, in part, by considering historical claims experience, demographic factors and severity factors. Income Taxes - The Company recognizes deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets represent items to be used as a tax deduction or credit in the future tax returns for which the Company has already properly recorded the tax benefit in the income statement. The Company regularly assesses the probability that the deferred tax asset balance will be recovered against future taxable income, taking into account such factors as earnings history, carryback and carryforward periods, and tax strategies. When the indications are that recovery is not probable, a valuation allowance is established against the deferred tax asset, increasing income tax expense in the year that conclusion is made. The Company assesses income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting dates. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, the Company records the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit is recognized in the financial statements. See Note 10 - Income Taxes. Earnings (Loss) Per Share - Net earnings (loss) per share (EPS) of Common Stock and Class B Common Stock is computed using the two class method. Basic net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units, performance stock units and convertible debt instruments using the if-converted method. Convertible Class B Common Stock and convertible debt instruments are reflected on an if-converted basis when dilutive to Common Stock. The computation of the diluted net earnings (loss) per share of Common Stock assumes the conversion of Class B Common Stock in periods that have net earnings since it would be dilutive to Common Stock earnings per share, while the diluted net earnings (loss) per share of Class B Common Stock does not assume the conversion of those shares. Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of Class B Common Stock. As such, the undistributed earnings (losses) for each period are allocated based on the proportionate share of entitled cash dividends. The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shared outstanding: Year Ended December 26, December 28, December 29, Net earnings (loss) per share – Basic: Common Stock $ (0.25) $ 0.48 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Net earnings (loss) per share- Diluted: Common Stock $ (0.25) $ 0.46 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Numerator: Net earnings (loss) attributable to The Marcus Corporation $ (7,787) $ 14,794 $ (11,972) Denominator (in thousands): Denominator for basic EPS 31,887 31,658 31,488 Effect of dilutive employee stock options — 44 — Effect of restricted stock units — — — Effect of convertible senior notes — 9,287 — Diluted weighted-average shares outstanding 31,887 40,989 31,488 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 2,776 2,933 2,622 Restricted stock units 48 — — Performance stock units 141 — — Convertible senior notes — — 9,141 Total 2,965 2,933 11,763 For the periods when the Company reports a net loss, common stock equivalents, restricted stock units, performance stock units, and shares related to the convertible senior notes are excluded from the computation of diluted loss per share as their inclusion would have an anti-dilutive effect. Performance stock units are considered anti-dilutive if the performance targets upon which the issuance of the shares are contingent have not been achieved and the respective performance period has not been completed as of the end of the current period. Shares related to the convertible senior notes were excluded from the computation of diluted earnings per share in the periods when the effect had an anti-dilutive effect using the if-converted method. Accumulated Other Comprehensive Loss – Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax: December 26, 2024 December 28, 2023 Net unrecognized actuarial loss for pension obligation $ (181) $ (1,336) $ (181) $ (1,336) New Accounting Pronouncements In fiscal 2023, the Company adopted Accounting Standard Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provided optional expedients and exceptions to the then existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (LIBOR), or other interbank offered rates, to alternative reference rates such as the Secured Overnight Financing Rate (SOFR). Upon adoption, the Company elected SOFR as its ongoing reference rate. The adoption of the new standard did not have a material effect on the Company’s consolidated financial statements. In fiscal 2024, the Company adopted ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU No. 2023-07) , which requires disclosure of incremental segment information on an annual and interim basis. The annual requirements of ASU No. 2023-07 are included in the Company’s Business Segment footnote (Note 13) and prior year information has been recast to conform to the current year presentation. The interim requirements of ASU No. 2023-07 are effective for the Company the first quarter of fiscal 2025. The adoption of the new standard did not have a material effect on the Company’s consolidated financial statements. In December 2023, the Financial Accounting Standards Board ( FASB) issued ASU No. 2023-09, Income Taxes (Topic 740: Improvements to Income Tax Disclosures (ASU No. 2023-09 ), which requires improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. ASU No. 2023-09 will be effective for the Company in fiscal 2025 and must be applied prospectively with retrospective application permitted. The Company is evaluating the impact that ASU No. 2023-09 will have on its consolidated financial statement disclosures. On November 4, 2024, the FASB ASU No. 2024-03, Disaggregation of Income Statement Expenses (DISE), which requires disaggregated disclosure of income statement expenses for public business entities. ASU No. 2024-03 does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 26, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance of obligations by transferring the promised services to the customer. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company’s progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. The amount of revenue recognized reflects the consideration entitled to in exchange for those services. The disaggregation of revenues by business segment for fiscal 2024, fiscal 2023 and fiscal 2022 is as follows: Fiscal 2024 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 214,421 $ — $ — $ 214,421 Rooms — 113,344 — 113,344 Theatre concessions 191,989 — — 191,989 Food and beverage — 78,102 — 78,102 Other revenues (1) 39,999 56,900 331 97,230 Revenue before cost reimbursements 446,409 248,346 331 695,086 Cost reimbursements 1,314 39,160 — 40,474 Total revenues $ 447,723 $ 287,506 $ 331 $ 735,560 Fiscal 2023 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 229,186 $ — $ — $ 229,186 Rooms — 106,618 — 106,618 Theatre concessions 197,653 — — 197,653 Food and beverage — 73,278 — 73,278 Other revenues (1) 31,555 53,519 346 85,420 Revenue before cost reimbursements 458,394 233,415 346 692,155 Cost reimbursements — 37,420 — 37,420 Total revenues $ 458,394 $ 270,835 $ 346 $ 729,575 Fiscal 2022 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 198,485 $ — $ — $ 198,485 Rooms — 107,699 — 107,699 Theatre concessions 180,180 — — 180,180 Food and beverage — 74,836 — 74,836 Other revenues (1) 29,076 53,117 367 82,560 Revenue before cost reimbursements 407,741 235,652 367 643,760 Cost reimbursements — 33,634 — 33,634 Total revenues $ 407,741 $ 269,286 $ 367 $ 677,394 (1) Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC 606. The Company recognizes revenue from its rooms as earned on the close of business each day. Revenue from theatre admissions, theatre concessions and food and beverage sales are recognized at the time of sale. Revenues from advanced ticket and gift card sales are recorded as deferred revenue and are recognized when tickets or gift cards are redeemed. Gift card breakage income is recognized based upon historical redemption patterns and represents the balance of gift cards for which the Company believes the likelihood of redemption by the customer is remote. Gift card breakage income is recorded in other revenues in the consolidated statements of operations. Other revenues include management fees for theatres and hotels under management agreements. The management fees are recognized as earned based on the terms of the agreements. The management fees include variable consideration that is recognized based on the Company’s right to invoice as the amount invoiced corresponds directly to the value transferred to the customer. Other revenues also include family entertainment center revenues and revenues from Hotels/Resorts outlets such as spa, ski, golf and parking, each of which are recognized at the time of sale. In addition, other revenues include pre-show advertising income in the Company’s theatres. Pre-show advertising revenue includes variable consideration, primarily based on attendance levels, that is allocated to distinct time periods that make up the overall performance obligation. Cost reimbursements primarily consist of payroll and related expenses at managed properties where the Company is the employer and may include certain operational and administrative costs as provided for in the Company’s contracts with owners. These costs are reimbursed back to the Company. As these costs have no added markup, the revenue and related expense have no impact on operating income (loss) or net earnings (loss). The timing of the Company’s revenue recognition may differ from the timing of payment by customers. However, the Company typically receives payment within a very short period of time of when the revenue is recognized. The Company records a receivable when revenue is recognized prior to payment and it has an unconditional right to payment. Alternatively, when payment precedes the provision for the related services, deferred revenue is recorded until the performance obligation is satisfied. Revenues do not include sales tax as the Company considers itself a pass-through conduit for collecting and remitting sales tax. The Company had deferred revenue from contracts with customers of $36,353, $38,034 and $37,046 as of December 26, 2024, December 28, 2023 and December 29, 2022, respectively. The Company had no contract assets as of December 26, 2024 and December 28, 2023. During fiscal 2024, the Company recognized revenue of $22,488 that was included in deferred revenues as of December 28, 2023. During fiscal 2023, the Company recognized revenue of $18,587 that was included in deferred revenues as of December 29, 2022. The majority of the Company’s deferred revenue relates to non-redeemed gift cards, advanced ticket sales and the Company’s loyalty program. As of December 26, 2024, the amount of transaction price allocated to the remaining performance obligations under the Company’s advanced ticket sales was $2,033 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues, which is included in other accrued liabilities. As of December 26, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Theatres non-redeemed gift cards was $16,002 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues. The Company recognizes revenue as the tickets and gift cards are redeemed, which is expected to occur within the next two years. As of December 26, 2024, the amount of transaction price allocated to the remaining performance obligations related to the amount of Hotels and Resorts non-redeemed gift cards was $4,784 and is reflected in the Company’s consolidated balance sheet as part of deferred revenues, which is included in other accrued liabilities. The Company recognizes revenue as the gift cards are redeemed, which is expected to occur within the next two years. The majority of the Company’s revenue is recognized in less than one year from the original contract.

Impairment Charges

Impairment Charges	12 Months Ended
	Dec. 26, 2024
Asset Impairment Charges [Abstract]
Impairment Charges	3. Impairment Charges During fiscal 2024, fiscal 2023 and 2022, the Company determined that indicators of impairment were present at certain theatre asset groups. For certain of the theatre asset groups evaluated for impairment, the sum of the estimated undiscounted future cash flows attributable to certain theatre assets was less than their carrying amounts. The Company evaluated the fair value of these assets, consisting primarily of land, building, leasehold improvements and furniture, fixtures and equipment, and operating lease right-of-use assets less lease obligations, and determined that the fair value, measured using Level 3 pricing inputs (using estimated discounted cash flows over the life of the primary assets, including estimated sale proceeds) was less than their carrying value and recorded impairment losses of $6,823, $1,061 and $1,525 in fiscal 2024, fiscal 2023 and fiscal 2022, respectively, reducing certain property and equipment and certain operating lease right-of-use assets. The remaining net book value of the impaired assets was $16,137 as of December 26, 2024, $6,429 as of December 28, 2023, and $5,229 as of December 29, 2022, excluding any applicable remaining lease obligations.

Asset Sale

Asset Sale	12 Months Ended
	Dec. 26, 2024
Discontinued Operations and Disposal Groups [Abstract]
Asset Sale	4. Asset Sale

Additional Balance Sheet Inform

Additional Balance Sheet Information	12 Months Ended
	Dec. 26, 2024
Balance Sheet Related Disclosures [Abstract]
Additional Balance Sheet Information	5. Additional Balance Sheet Information The composition of accounts receivable is as follows: December 26, 2024 December 28, 2023 Trade receivables, net of allowances of $141 and $115, respectively $ 6,900 $ 7,636 Other receivables 14,557 12,067 $ 21,457 $ 19,703 The composition of property and equipment, which is stated at cost, is as follows: December 26, 2024 December 28, 2023 Land and improvements $ 129,991 $ 131,833 Buildings and improvements 736,408 719,521 Leasehold improvements 166,149 166,245 Furniture, fixtures and equipment 424,807 397,150 Finance lease right-of-use assets 29,061 30,106 Construction in progress 15,590 11,432 1,502,006 1,456,287 Less accumulated depreciation and amortization 816,272 774,025 $ 685,734 $ 682,262 The composition of other assets is as follows: December 26, 2024 December 28, 2023 Intangible assets $ 6,900 $ 6,904 Cash surrender value of insurance policy 8,709 8,276 Other assets 7,723 9,443 $ 23,332 $ 24,623

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 26, 2024
Debt Disclosure [Abstract]
Long-Term Debt	6. Long-Term Debt Long-term debt is summarized as follows: December 26, 2024 December 28, 2023 Senior notes $ 160,000 $ 70,000 Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75% 78 528 Convertible senior notes — 100,050 Payroll Protection Program loans 314 1,233 Revolving credit agreement — — Total debt 160,392 171,811 Debt issuance costs (1,252) (1,960) Total debt, net of debt issuance costs 159,140 169,851 Less current maturities, net of issuance costs 10,133 10,303 Long-term debt $ 149,007 $ 159,548 Scheduled annual principal payments on long-term debt for the years subsequent to December 26, 2024, are as follows: Fiscal Year 2025 $ 10,392 2026 — 2027 62,000 2028 17,714 2029 17,714 Thereafter 52,572 $ 160,392 Credit Agreement On January 9, 2020, the Company replaced its then-existing credit agreement with several banks. On April 29, 2020, the Company entered into the First Amendment, on September 15, 2020, the Company entered into the Second Amendment, on July 13, 2021, the Company entered into the Third Amendment, on July 29, 2022, the Company entered into the Fourth Amendment, on February 10, 2023, the Company entered into the Fifth Amendment and on October 16, 2023, the Company entered into the Sixth Amendment (the Credit Agreement, as amended by the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment and the Sixth Amendment, hereinafter referred to as the “Credit Agreement”). The Credit Agreement provides for a new five-year revolving credit facility that matures on October 16, 2028 with an initial maximum aggregate amount of availability of $225,000. At December 26, 2024, there were no borrowings outstanding on the revolving credit facility, which when borrowed, bear interest at SOFR plus a margin (as discussed further below), effectively 7.28% at December 26, 2024. Availability under the $225,000 revolving credit facility was $220,185 as of December 26, 2024 after taking into consideration outstanding letters of credit that reduce revolver availability. Borrowings under the Credit Agreement bear interest at a variable rate equal to (i) the term secured overnight financing rate (“SOFR”), plus a credit spread adjustment of 0.10%, subject to a 0% floor, plus a specified margin based upon our net leverage ratio as of the most recent determination date, or (ii) the alternate base rate (“ABR”) (which is the highest of (a) the prime rate, (b) the greater of the federal funds rate and the overnight bank funding rate plus 0.50% or (c) the sum of 1% plus one-month SOFR plus a credit spread adjustment of 0.10%), subject to a 1% floor, plus a specified margin based upon our net leverage ratio as of the most recent determination date; provided, however, as of the effective date of the Sixth Amendment, in respect of revolving loans, the applicable margin is 1.75% for SOFR borrowings and 0.75% for ABR borrowings. The revolving credit facility also requires an annual facility fee equal to 0.175% to 0.275% of the total revolving commitments depending on our consolidated net leverage ratio. The Credit Agreement includes, among other restrictions and covenants applicable to the Company, a requirement that our consolidated net leverage ratio not exceed 3.50:1.00, provided that, with some limitations, such ratio may be increased to 4.00:1:00 for the full fiscal quarter in which a material acquisition (in which aggregate consideration equals or exceeds $30,000) is consummated and the three fiscal quarters immediately thereafter, and a requirement that our interest coverage ratio at the end of any fiscal quarter not be less than 3.00:1.00. In connection with the Credit Agreement: (i) the Company has pledged, subject to certain exceptions, security interests and liens in and on (a) substantially all of its respective personal property assets and (b) certain of its respective real property assets, in each case, to secure the Credit Agreement and related obligations; and (ii) certain of the Company’s subsidiaries have guaranteed the Company’s obligations under the Credit Agreement. The Credit Agreement contains customary events of default. If an event of default under the Credit Agreement occurs and is continuing, then, among other things, the lenders may declare any outstanding obligations under the Credit Agreement to be immediately due and payable and exercise rights and remedies against the pledged collateral. Senior Notes The Company’s $160,000 of senior notes consist of two Note Purchase Agreements and one Master Note Purchase Agreement (collectively the “Senior Notes Agreements”) maturing in 2025 through 2034, require annual principal payments in varying installments and bear interest payable semi-annually at fixed rates ranging from 4.02% to 7.02%, with a weighted-average fixed rate of 5.94% at December 26, 2024 and 4.23% at December 28, 2023. On July 9, 2024, the Company and certain purchasers entered into a Master Note Purchase Agreement pursuant to which the Company issued and sold $100,000 aggregate principal amount of senior notes in two tranches: (i) $60,000 in aggregate principal amount of 6.89% Series 2024 Senior Notes, Tranche A due July 9, 2031 and (ii) $40,000 in aggregate principal amount of 7.02% Series 2024 Senior Notes, Tranche B due July 9, 2034. In connection with the Senior Notes Agreements: (i) the Company has pledged, subject to certain exceptions, security interests and liens in and on (a) substantially all of their respective personal property assets and (b) certain of their respective real property assets, in each case, to secure the Senior Notes Agreements and related obligations; and (ii) certain subsidiaries of the Company have guaranteed the Company's obligations under the Senior Notes Agreements. The Senior Notes Agreements rank pari passu in right of payment with all of our other senior secured debt. The Senior Notes Agreements contain covenants and collateral provisions that are consistent with the amended covenants and collateral provisions referenced in the Credit Agreement section above. The Senior Notes Agreements contain customary events of default. If an event of default under the Senior Notes Agreements occurs and is continuing, then, among other things, all senior notes then outstanding become immediately due and payable and the note holders may exercise their rights and remedies against the pledged collateral. Convertible Senior Notes On September 17, 2020, the Company entered into a purchase agreement to issue and sell $100,050 aggregate principal amount of its 5.00% Convertible Senior Notes due 2025 (the “Convertible Notes.”) In connection with the pricing of the Convertible Notes the Company entered into privately negotiated Capped Call Transactions (the “Capped Call Transactions”) with certain financial institutions (the “Capped Call Counterparties”). During fiscal 2024, the Company entered into separate, privately negotiated purchase agreements (the “Purchase Agreements”) with the holders of the Convertible Notes. Under the terms of the Purchase Agreements, the holders agreed to exchange $100,050 in aggregate principal amount of Convertible Notes for cash consideration of $121,828 (or $103,547 net of the cash the Company received in connection with the unwind of a portion of the Capped Call Transactions as discussed below) effected over four separate repurchase tranches (the “Convertible Notes Repurchases”). As of December 26, 2024 all of the Convertible Notes were repurchased and retired . In connection with the Convertible Notes Repurchases, the Company entered into unwind agreements with the Capped Call Counterparties to terminate a portion of the Capped Call Transactions equal to the notional amounts of the Convertible Notes Repurchases, and to receive aggregate cash of $18,281 effected over four separate unwind tranches. As of December 26, 2024 all of the Capped Call Transactions were unwound and settled. During the fiscal 2024, the Company incurred debt conversion expense of $15,521 in connection with the Convertible Notes Repurchases. The unwind of the Capped Call Transactions resulted in a $17,641 increase in capital in excess of par within shareholders’ equity during fiscal 2024. Derivatives The Company utilizes derivatives principally to manage market risks and reduce its exposure resulting from fluctuations in interest rates. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategies for undertaking various hedge transactions. The Company recognizes derivatives as either assets or liabilities on the consolidated balance sheets at fair value. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. Derivatives that do not qualify for hedge accounting must be adjusted to fair value through earnings. For derivatives that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The Company’s interest rate swap agreements were considered effective and qualified as cash flow hedges. The Company assesses, both at the inception of each hedge and on an on-going basis, whether the derivatives that are used in its hedging transactions are highly effective in offsetting changes in cash flows of the hedged items. The Company entered into an interest rate swap agreement on March 1, 2018 with a notional amount of $25,000 that required the Company to pay interest at a defined rate of 2.687% while receiving interest at a defined variable rate of one-month LIBOR that expired March 1, 2023. There were no interest rate swaps outstanding at December 26, 2024.

Leases

Leases	12 Months Ended
	Dec. 26, 2024
Leases [Abstract]
Leases	7. Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to accounting guidance ASC 842. The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The exercise of lease renewal options is done at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and related right-of-use asset and lease liability. The depreciable life of the asset is limited to the expected term. The Company’s lease agreements do not contain any residual value guarantees or any restrictions or covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in the lease in determining the present value of lease payments. When the lease does not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the fixed rate the Company could borrow for a similar amount, over a similar lease term with similar collateral. The Company recognizes right-of-use assets for all assets subject to operating leases in an amount equal to the operating lease liabilities, adjusted for the balances of long-term prepaid rent, favorable lease intangible assets, deferred lease expense, unfavorable lease liabilities and deferred lease incentive liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Total lease cost consists of the following: Lease Cost Classification Fiscal 2024 Fiscal 2023 Fiscal 2022 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 2,274 $ 2,760 $ 2,789 Interest on lease liabilities Interest expense 664 759 850 $ 2,938 $ 3,519 $ 3,639 Operating lease costs: Operating lease costs Rent expense $ 23,953 $ 24,126 $ 25,381 Variable lease cost Rent expense 1,724 1,892 514 Short-term lease cost Rent expense 234 136 142 $ 25,911 $ 26,154 $ 26,037 Additional information related to leases is as follows: Other Information Fiscal 2024 Fiscal 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2,470 $ 2,527 Operating cash flows from finance leases 664 759 Operating cash flows from operating leases 25,183 25,391 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 232 357 Operating lease liabilities, including from acquisitions 3,394 276 December 26, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 29,061 $ 30,106 Accumulated depreciation and amortization (19,078) (17,956) Property and equipment - net $ 9,983 $ 12,150 Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate December 26, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.69% 4.62% Operating leases 4.79% 4.52% Maturities of lease liabilities as of December 26, 2024 are as follows: Fiscal Year Operating Leases Finance Leases 2025 $ 23,963 $ 3,144 2026 24,951 3,027 2027 23,341 2,054 2028 22,478 1,923 2029 21,066 1,578 Thereafter 118,461 3,157 Total lease payments 234,260 14,883 Less: amount representing interest (53,719) (1,932) Total lease liabilities $ 180,541 $ 12,951 Deferred rent payments of approximately $562 for the Company’s operating leases have been included in the total operating lease obligations as of December 26, 2024, of which approximately $113 is included in long-term operating lease obligations.
Leases	7. Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to accounting guidance ASC 842. The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The exercise of lease renewal options is done at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and related right-of-use asset and lease liability. The depreciable life of the asset is limited to the expected term. The Company’s lease agreements do not contain any residual value guarantees or any restrictions or covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in the lease in determining the present value of lease payments. When the lease does not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the fixed rate the Company could borrow for a similar amount, over a similar lease term with similar collateral. The Company recognizes right-of-use assets for all assets subject to operating leases in an amount equal to the operating lease liabilities, adjusted for the balances of long-term prepaid rent, favorable lease intangible assets, deferred lease expense, unfavorable lease liabilities and deferred lease incentive liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Total lease cost consists of the following: Lease Cost Classification Fiscal 2024 Fiscal 2023 Fiscal 2022 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 2,274 $ 2,760 $ 2,789 Interest on lease liabilities Interest expense 664 759 850 $ 2,938 $ 3,519 $ 3,639 Operating lease costs: Operating lease costs Rent expense $ 23,953 $ 24,126 $ 25,381 Variable lease cost Rent expense 1,724 1,892 514 Short-term lease cost Rent expense 234 136 142 $ 25,911 $ 26,154 $ 26,037 Additional information related to leases is as follows: Other Information Fiscal 2024 Fiscal 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2,470 $ 2,527 Operating cash flows from finance leases 664 759 Operating cash flows from operating leases 25,183 25,391 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 232 357 Operating lease liabilities, including from acquisitions 3,394 276 December 26, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 29,061 $ 30,106 Accumulated depreciation and amortization (19,078) (17,956) Property and equipment - net $ 9,983 $ 12,150 Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate December 26, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.69% 4.62% Operating leases 4.79% 4.52% Maturities of lease liabilities as of December 26, 2024 are as follows: Fiscal Year Operating Leases Finance Leases 2025 $ 23,963 $ 3,144 2026 24,951 3,027 2027 23,341 2,054 2028 22,478 1,923 2029 21,066 1,578 Thereafter 118,461 3,157 Total lease payments 234,260 14,883 Less: amount representing interest (53,719) (1,932) Total lease liabilities $ 180,541 $ 12,951 Deferred rent payments of approximately $562 for the Company’s operating leases have been included in the total operating lease obligations as of December 26, 2024, of which approximately $113 is included in long-term operating lease obligations.

Shareholders' Equity and Share-

Shareholders' Equity and Share-Based Compensation	12 Months Ended
	Dec. 26, 2024
Equity [Abstract]
Shareholders’ Equity and Share-Based Compensation	8. Shareholders’ Equity and Share-Based Compensation Shareholders may convert their shares of Class B Common Stock into shares of Common Stock at any time. Class B Common Stock shareholders are substantially restricted in their ability to transfer their Class B Common Stock. Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of the Class B Common Stock. Holders of Class B Common Stock are entitled to ten votes per share while holders of Common Stock are entitled to one vote per share on any matters brought before the shareholders of the Company. Liquidation rights are the same for both classes of stock. Through December 26, 2024, the Company’s Board of Directors has approved the repurchase of up to 11,687,500 shares of Common Stock to be held in treasury. The Company intends to reissue these shares upon the exercise of stock options and the issuance of restricted stock, restricted stock units and performance stock units. The Company repurchased 713,456, 94,508 and 134,694 shares pursuant to these authorizations during fiscal 2024, fiscal 2023 and fiscal 2022, respectively. At December 26, 2024, there were 1,714,682 shares available for repurchase under these authorizations. In fiscal 2024, the Company discontinued its Associate Stock Purchase Plan and amended its Dividend Reinvestment Plan. Under the amended plan, the Company’s Board of Directors has authorized the issuance of up to 250,000 shares of Common Stock. At December 26, 2024, there were 245,330 shares available under this authorization. Shareholders have approved the issuance of up to 7,437,500 shares of Common Stock under various equity incentive plans. At December 26, 2024, there were 159,370 shares available for grants of various equity awards under the current plan, each discussed below. Total pre-tax share-based compensation expense was $8,206, $6,394 and $8,170 in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. The recognized tax benefit on share-based compensation was $1,879, $1,000 and $1,338 in fiscal 2024, fiscal 2023 and fiscal 2022, respectively. Stock Options Stock options granted under the plans to employees generally become exercisable either 40% after two years, 60% after three years, 80% after four years and 100% after five years of the date of grant, or 50% after two years, 75% after three years and 100% after four years of the date of grant, depending on the date of grant. The options generally expire ten years from the date of grant as long as the optionee is still employed with the Company. The Company ceased issuing stock options beginning in fiscal 2024. A summary of the Company’s stock option activity and related information follows (shares in thousands): Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Options Weighted- Options Weighted- Options Weighted- Outstanding at beginning of period 3,173 $ 22.69 2,866 $ 23.76 2,533 $ 24.84 Granted — — 525 15.96 501 16.99 Exercised (129) 15.34 (83) 13.05 (68) 13.15 Forfeited (160) 18.94 (135) 25.11 (100) 24.89 Outstanding at end of period 2,884 23.22 3,173 22.69 2,866 23.76 Exercisable at end of period 2,125 $ 25.48 1,989 $ 25.53 1,613 $ 25.70 Weighted-average fair value of options granted during the period n/a $ 7.86 $ 7.71 Exercise prices for options outstanding as of December 26, 2024 ranged from $12.71 to $41.90. The weighted-average remaining contractual life of those options is 5.4 years. The weighted-average remaining contractual life of options currently exercisable is 4.6 years. There were 2,868,580 options outstanding, vested and expected to vest as of December 26, 2024, with a weighted-average exercise price of $23.26 and an intrinsic value of $6,723. Additional information as of December 26, 2024 related to options outstanding segregated by exercise price range is as follows (shares in thousands): Exercise Price Range $12.71 to $17.05 $17.06 to $27.00 $27.01 to $41.90 Options outstanding 1,095 943 846 Weighted-average exercise price of options outstanding $ 15.97 $ 22.61 $ 33.30 Weighted-average remaining contractual life of options outstanding 7.4 4.0 4.2 Options exercisable 422 857 846 Weighted-average exercise price of options exercisable $ 15.46 $ 22.70 $ 33.30 The intrinsic value of options outstanding at December 26, 2024 was $6,804 and the intrinsic value of options exercisable at December 26, 2024 was $3,155. The intrinsic value of options exercised was $725, $171 and $164 during fiscal 2024, fiscal 2023 and fiscal 2022, respectively. As of December 26, 2024, total remaining unearned compensation cost related to stock options was $1,582, which will be amortized to expense over the remaining weighted-average life of 1.8 years. Restricted Stock Awarded shares of restricted stock cumulatively vest either 25% after three years of the grant date, 50% after five years of the grant date, 75% after ten years of the grant date and 100% upon retirement, or 50% after two years of the grant date and 100% after four years of the grant date, or 50% after two years of the grant date and 100% after three years of the grant date, depending on the date of grant. A special long-term incentive and retention award of restricted stock with a vesting period of 100% after four years of the grant date, or upon retirement after three years of the grant date, was awarded to certain executives in fiscal 2024. The restricted stock may not be sold, transferred, pledged or assigned, except as provided by the vesting schedule included in the Company’s equity incentive plan. During the period of restriction, the holder of the restricted stock has voting rights and is entitled to receive all dividends and other distributions paid with respect to the stock. Restricted stock awards may be issued from previously acquired treasury shares. The Company expenses the cost of restricted stock awards over the vesting period based on the fair value of the award at the date of grant. A summary of the Company’s restricted stock activity and related information follows (shares in thousands): Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at beginning of period 238 $ 17.41 212 $ 21.07 357 $ 23.32 Granted 476 15.18 107 15.68 100 17.63 Vested (47) 21.37 (81) 23.77 (242) 22.95 Forfeited — — — — (3) 22.93 Outstanding at end of period 667 $ 15.54 238 $ 17.41 212 $ 21.07 As of December 26, 2024, total remaining unearned compensation cost related to restricted stock was $4,565, which will be amortized over the weighted-average remaining service period of 2.9 years. Restricted Stock Units Restricted stock units (RSUs) cumulatively vest 50% after two years of the grant date and 100% after three years of the grant date. RSU awards are payable in common stock upon vesting. The Company expenses the cost of RSU awards over the vesting period based on the fair value of the awards at the date of grant. A summary of the Company’s RSU activity and related information follows (shares in thousands): RSUs Shares Weighted- December 28, 2023 — $ — Granted 52 14.79 Vested (5) 14.84 Forfeited — — December 26, 2024 47 $ 14.79 As of December 26, 2024, total remaining unearned compensation cost related to RSUs was $500, which will be amortized over the weighted-average remaining service period of 2.2 years. Performance Stock Units Performance stock units (PSUs) vest subject to the Company’s achievement of performance goals expressed in terms of (i) earnings before interest, taxes, depreciation and amortization, or EBITDA, growth rate ranking relative to the Russell 2000 Index with respect to 25% of the total number of performance stock unit awards, and (ii) the Company’s average return on invested capital, or ROIC, ranking relative to the Russell 2000 Index with respect to 75% of the total number of performance stock unit awards. For grants awarded in fiscal 2024, the PSU performance goals relate to the three-year performance period from fiscal 2024-2026. PSU awards are payable at the end of their respective performance period in common stock, and the number of PSUs awarded can range from zero to 150% depending on the Company’s achievement of the relative performance metrics. The Company expenses the cost of PSU awards based on the fair value of the awards at the date of grant and the estimated achievement of the performance metric, ratable over the performance period of three A summary of the Company’s PSU activity and related information follows (shares in thousands): PSUs Shares Weighted- December 28, 2023 — $ — Granted 143 14.84 Vested — — Forfeited (4) 14.84 December 26, 2024 139 $ 14.84 As of December 26, 2024, total remaining unearned compensation cost related to PSUs was $1,375, which will be amortized over the weighted-average remaining service period of 2.0 years.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 26, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	9. Employee Benefit Plans The Company has a qualified profit-sharing retirement savings plan (401(k) plan) covering eligible employees. The 401(k) plan provides a matching contribution equal to 100% of the first 3% of compensation and 50% of the next 2% of compensation deposited by an employee into the 401(k) plan. During fiscal 2023 and fiscal 2022, the first 2% of the matching contribution was made with the Company’s common stock. Retirement savings plan expense was $2,326, $2,179 and $2,233 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. The Company also sponsors unfunded, nonqualified, defined-benefit and deferred compensation plans. The Company’s unfunded, nonqualified retirement plan includes two components. The first component is a defined-benefit plan that applies to certain participants. The second component applies to all other participants and provides an account-based supplemental retirement benefit. The Company recognizes actuarial losses and prior service costs related to its defined benefit plan in the consolidated balance sheets and recognizes changes in these amounts in the year in which changes occur through comprehensive income The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 26, 2024 and December 28, 2023 measurement dates is as follows: December 26, December 28, Change in benefit obligation: Benefit obligation at beginning of period $ 36,349 $ 36,324 Service cost 248 487 Interest cost 1,778 1,811 Actuarial gain (1,627) (656) Benefits paid (1,765) (1,617) Benefit obligation at end of year $ 34,983 $ 36,349 Amounts recognized in the statement of financial position consist of: Current accrued benefit liability (included in Other accrued liabilities) $ (2,315) $ (2,060) Noncurrent accrued benefit liability (included in Other long-term obligations) (32,668) (34,289) Total $ (34,983) $ (36,349) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial loss $ 377 $ 2,004 Prior service credit (132) (196) Total $ 245 $ 1,808 Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Net periodic pension cost: Service cost $ 248 $ 487 $ 1,055 Interest cost 1,778 1,811 1,341 Net amortization of prior service cost and actuarial loss (64) (64) 1,028 $ 1,962 $ 2,234 $ 3,424 The $181 loss, net of tax, included in accumulated other comprehensive loss at December 26, 2024, consists of the $279 net actuarial loss, net of tax, and the $98 unrecognized prior service credit, net of tax, which have not yet been recognized in the net periodic benefit cost. The $1,336 loss, net of tax, included in accumulated other comprehensive loss at December 28, 2023, consists of the $1,481 net actuarial loss, net of tax, and the $145 unrecognized prior service credit, net of tax, which have not yet been recognized in the net periodic benefit cost. The accumulated benefit obligation was $34,480 and $34,788 as of December 26, 2024 and December 28, 2023, respectively. The pre-tax change in the benefit obligation recognized in other comprehensive loss was as follows: Year Ended December 26, 2024 December 28, 2023 Net actuarial gain $ (1,627) (656) Amortization of the prior year service credit 64 64 Total $ (1,563) (592) The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows: December 26, 2024 December 28, 2023 Discount rate 5.45% 5.00% Rate of compensation increase 4.00% 4.00% The weighted-average assumptions used to determine net periodic benefit cost were as follows: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Discount rate 5.00% 5.05% 2.85% Rate of compensation increase 4.00% 4.00% 4.00% Benefit payments expected to be paid subsequent to December 26, 2024, are as follows: Fiscal Year 2025 $ 2,377 2026 2,384 2027 2,371 2028 2,621 2029 3,273 Years 2030 – 2034 15,560

Income Taxes

Income Taxes	12 Months Ended
	Dec. 26, 2024
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The components of the net deferred tax liability are as follows: December 26, 2024 December 28, 2023 Deferred tax assets Accrued employee benefits $ 13,171 $ 13,653 Operating lease liabilities 47,121 50,601 Gift card liabilities 6,030 6,490 Net operating loss, disallowed interest & tax credit carryforwards 18,784 21,069 Other 130 2,378 Total 85,236 94,191 Less valuation allowance (3,583) (11,338) Deferred tax assets 81,653 82,853 Deferred tax liabilities Depreciation and amortization (68,767) (68,164) Operating lease assets (41,549) (46,924) Deferred tax liabilities (110,316) (115,088) Net deferred tax liability $ (28,663) $ (32,235) Amounts recognized in the consolidated balance sheets consist of: Deferred income taxes - other assets $ 3,956 $ — Deferred income taxes - liabilities (32,619) (32,235) Net amount recognized $ (28,663) $ (32,235) As of December 26, 2024 and December 28, 2023, the Company had federal tax credit carryforwards of $3,010 and $4,150, respectively. As of December 26, 2024 and December 28, 2023, the Company has state net operating loss carryforwards of $200,279 and $209,866, respectively, which will expire primarily in the next 12 to 20 years. As of December 28, 2023, the valuation allowance for a portion of the Company’s state net operating loss carryforwards that are not more likely than not to be realized was $11,338. In fiscal 2024, the Company decreased the valuation allowance by $7,755 to $3,583. The amount of the state net operating loss carryforwards considered realizable could be adjusted if, among other factors, estimates of future taxable income during the carryforward periods are reduced or increased. Income tax expense (benefit) consists of the following: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Current: Federal $ 846 $ 603 $ (452) State 713 692 556 Deferred: Federal 2,833 3,900 (3,222) State (6,814) 1,661 10,255 $ (2,422) $ 6,856 $ 7,137 The Company’s effective income tax rate, adjusted for earnings from noncontrolling interests, was 23.7%, 31.7% and (147.6)% for fiscal 2024, fiscal 2023 and fiscal 2022, respectively. A reconciliation of the statutory federal tax rate to the effective tax rate on earnings attributable to The Marcus Corporation follows: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Statutory federal tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit (7.4) 11.4 4.3 Tax credits, net of federal income tax benefit 12.7 (5.6) 22.9 Valuation allowance 76.0 (4.8) (205.9) Federal income tax benefit on state valuation allowance (16.0) 1.0 53.7 Excess tax benefits on share-based compensation (3.3) 2.8 (22.1) Other compensation and benefits (17.5) 5.4 (15.6) Meals and entertainment (2.6) 1.1 (4.1) Debt conversion (38.1) — — Other (1.1) (0.6) (1.8) 23.7 % 31.7 % (147.6) % The Company's effective income tax rate during fiscal 2024 was positively impacted by a $7,755 decrease in the valuation allowance for state net operating loss carryforwards, partially offset by a corresponding decrease in the federal benefit on the valuation allowance of $1,629, and was negatively impacted by a nondeductible debt conversion expense resulting from the Convertible Notes Repurchases and related termination of the Capped Call Transactions. The Company's effective income tax rate during fiscal 2022 was negatively impacted by a $9,956 increase in the valuation allowance for state net operating loss carryforwards, partially offset by a corresponding increase in the federal benefit on the valuation allowance of $2,598. Excluding the negative impact of the valuation allowance adjustment (net of federal benefit), the Company’s effective income tax rate during fiscal 2022 was 4.6%. The Company has not included the income tax expense related to the net earnings attributable to noncontrolling interests in its income tax expense as the entity is considered a pass-through entity and, as such, the income tax expense is attributable to its owners. Net income taxes paid in fiscal 2024 and 2023 were $1,428 and $1,776, respectively. Net income taxes refunded in fiscal 2022 were $21,935. Net income taxes refunded in fiscal 2022 included $22,300 related to federal net operating loss carrybacks to prior years, as allowed under the provisions of the CARES Act. The Company had no unrecognized tax benefits as of December 26, 2024, December 28, 2023 and December 29, 2022. The Company had no accrued interest or penalties at December 26, 2024 or December 28, 2023. The Company classifies interest and penalties relating to income taxes as income tax expense. For the year ended December 26, 2024, no interest income or expense was recognized in the consolidated statement of operations, compared to $1 of interest expense for the year ended December 28, 2023 and $683 of interest income for the year ended December 29, 2022. The Company's federal income tax returns for fiscal 2020 and prior are no longer subject to examination. With certain exceptions, the Company's state income tax returns are no longer subject to examination prior to fiscal 2019. At this time, the Company does not expect the results from any income tax audit or appeal to have a significant impact on the Company's financial statements.

Commitments and License Rights

Commitments and License Rights	12 Months Ended
	Dec. 26, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and License Rights	11. Commitments and License Rights Commitments - The Company has commitments for the completion of construction at various properties totaling approximately $31,569 at December 26, 2024. License Rights – As of December 26, 2024, the Company had license rights to operate two hotels using the Hilton trademark and two hotels using the Marriott trademark. Under the terms of the licenses, the Company is obligated to pay fees based on defined gross sales.

Joint Venture Transactions

Joint Venture Transactions	12 Months Ended
	Dec. 26, 2024
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Joint Venture Transactions	12. Joint Venture Transactions At December 26, 2024 and December 28, 2023, the Company held investments with aggregate carrying values of $5,166 and $1,718, respectively. Investments at December 26, 2024 included two joint ventures and investments at December 28, 2023 included one joint venture, all accounted for under the equity method. In March 2024, the Company formed a joint venture with Hempel Real Estate (“Hempel”) and Robinson Park (“RP”) to acquire the Loews Minneapolis Hotel, a 251 guest room and suite full-service lifestyle hotel located in downtown Minneapolis, Minnesota. The acquired hotel was rebranded as The Lofton Hotel (“Lofton”) under the Tapestry Collection by Hilton flag. The Company invested $5,620 for a 33.3% equity interest in the Lofton joint venture and entered into a management agreement for the hotel. Subsequent to its initial investment in the joint venture, the Company sold an 8.6% interest to a minority investor for $1,500, reducing its equity interest in the Lofton joint venture to 24.7%. The Company accounts for its investment in the Lofton joint venture on the equity method. A wholly-owned subsidiary of the Lofton joint venture entity, as the borrower, financed the acquisition of and future improvements to the hotel with a mortgage loan. In connection with this mortgage loan, the Company provided an environmental indemnity and a several payment guaranty that provides that the lender can recover losses from the Company, a principal in Hempel, and a principal in RP for certain events of default of the borrower up to $6,200 for the Company. Under the terms of a cross-indemnity agreement among the guarantors, the other two guarantors have fully indemnified the Company under the guarantees for any losses in excess of its proportionate liability under the several payment guaranty and environmental indemnity. In December 2021, the Company formed a joint venture with Searchlight Capital Partners (“Searchlight”) to acquire the Kimpton Hotel Monaco Pittsburgh (“Monaco”), a 248-room upper upscale hotel in downtown Pittsburgh, Pennsylvania. The Company has a 10% equity interest in the Monaco joint venture and has a management agreement with the hotel. The Monaco joint venture entity, as the borrower, financed the acquisition of Monaco with a non-recourse mortgage loan. In connection with this mortgage loan, the Company provided an environmental indemnity and a “bad boy” guaranty that provides that the lender can recover losses from the Company for certain bad acts of the Monaco joint venture, such as but not limited to fraud, intentional misrepresentation, voluntary incurrence of prohibited debt, prohibited transfers of the collateral, and voluntary bankruptcy of the Monaco joint venture. Under the terms of the Monaco joint venture operating agreement, Searchlight has fully indemnified the Company under the “bad boy” guarantees for any losses other than those attributable to the Company’s own bad acts and has indemnified the Company to its proportionate liability under the environmental liability.

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 26, 2024
Segment Reporting [Abstract]
Business Segment Information	13. Business Segment Information The Company’s primary operations are reported in the following two business segments: movie theatres and hotels and resorts. The Marcus Corporation’s chief operating decision maker (CODM) is the Company’s Chief Executive Officer. The measure of segment profit and loss the CODM uses to evaluate performance is operating income of each segment. The CODM uses this measure to evaluate trends and assess segment operating performance as compared to budget, historical periods, the industries each segment operates in and their competition in order to determine how to allocate resources to each segment. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Following is a summary of business segment information for fiscal 2024, fiscal 2023 and fiscal 2022: Theatres Hotels/Resorts Total Fiscal 2024 Total Revenues $ 447,723 $ 287,506 $ 735,229 Less: Costs and expenses Theatre operations 225,472 — 225,472 Rooms — 43,425 43,425 Theatre concessions 78,406 — 78,406 Food and beverage — 60,419 60,419 Advertising and marketing 5,485 18,903 24,388 Administrative 23,304 42,540 65,844 Depreciation and amortization 45,352 21,917 67,269 Rent 23,551 1,899 25,450 Property taxes 9,607 5,029 14,636 Impairment charges 6,823 — 6,823 Reimbursed costs 1,314 39,160 40,474 Other segment items (2) 6,262 35,737 41,999 Total costs and expenses 425,576 269,029 694,605 Operating income $ 22,147 $ 18,477 $ 40,624 Investment income 2,231 Interest expense (10,972) Other income (expense), net (1,513) Debt conversion expense (15,521) Equity losses from unconsolidated joint ventures, net (604) Corporate items (1) (24,454) Net loss before income taxes $ (10,209) Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 932 $ 1,053 $ 6,221 $ 8,206 Assets 643,488 310,856 90,184 1,044,528 Capital expenditures 20,961 48,930 9,319 79,210 Theatres Hotels/Resorts Total Fiscal 2023 Total Revenues $ 458,394 $ 270,835 $ 729,229 Less: Costs and expenses Theatre operations 230,770 — 230,770 Rooms — 41,071 41,071 Theatre concessions 75,903 — 75,903 Food and beverage — 57,871 57,871 Advertising and marketing 4,277 18,362 22,639 Administrative 23,609 35,423 59,032 Depreciation and amortization 48,378 18,569 66,947 Rent 23,952 1,801 25,753 Property taxes 12,253 5,583 17,836 Impairment charges 1,061 — 1,061 Reimbursed costs — 37,420 37,420 Other segment items (2) 2,015 37,222 39,237 Total costs and expenses 422,218 253,322 675,540 Operating income $ 36,176 $ 17,513 $ 53,689 Investment income 2,426 Interest expense (12,721) Other income (expense), net (1,832) Equity losses from unconsolidated joint ventures, net (149) Corporate items (1) (19,763) Net earnings before income taxes $ 21,650 Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 900 $ 979 $ 4,515 $ 6,394 Assets 696,128 280,568 88,407 1,065,103 Capital expenditures 15,131 22,890 753 38,774 Theatres Hotels/Resorts Total Fiscal 2022 Total Revenues $ 407,741 $ 269,286 $ 677,027 Less: Costs and expenses Theatre operations 212,410 — 212,410 Rooms — 41,561 41,561 Theatre concessions 73,124 — 73,124 Food and beverage — 59,272 59,272 Advertising and marketing 5,159 18,505 23,664 Administrative 22,355 34,669 57,024 Depreciation and amortization 47,560 19,160 66,720 Rent 23,335 2,298 25,633 Property taxes 11,754 6,052 17,806 Impairment charges 1,525 — 1,525 Reimbursed costs — 33,634 33,634 Other segment items (2) 2,411 35,436 37,847 Total costs and expenses 399,633 250,587 650,220 Operating income $ 8,108 $ 18,699 $ 26,807 Investment income (45) Interest expense (15,299) Other income (expense), net (1,060) Gain on sale of hotel 6,274 Equity losses from unconsolidated joint ventures, net (143) Corporate items (1) (18,501) Net loss before income taxes $ (1,967) Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 2,757 $ 1,045 $ 4,368 $ 8,170 Assets 750,941 277,990 35,667 1,064,598 Capital expenditures 12,087 24,515 241 36,843 (1) Corporate items include amounts not allocable to the business segments. Corporate revenues consist principally of rent and the corporate operating loss includes general corporate expenses. Corporate information technology costs and accounting shared services costs are allocated to the business segments based upon several factors, including actual usage and segment revenues. Corporate assets primarily include cash and cash equivalents, furniture, fixtures and equipment, investments and land held for development. (2) Other segment items includes losses or gains on disposition of property, equipment and other assets, preopening expenses, and other operating expenses.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (7,787)	$ 14,794	$ (11,972)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 26, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 26, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 26, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	In addition to our Cybersecurity Committee, an information security operations team is in place, which monitors the environment for cybersecurity incidents on a continuous basis. We have also established incident response plans to assess and manage cybersecurity incidents. These plans, which are tested at least annually, include escalation procedures based on the nature and severity of the incident. The most critical incidents, which could be material to the company, are escalated to the Cybersecurity Committee. The Cybersecurity Committee, in coordination with internal and external advisors and legal counsel, is responsible for determining the materiality of cybersecurity incidents and coordinating any necessary disclosures. A materiality decision framework, which includes both quantitative and qualitative factors, is in place to guide the materiality decision. Critical cybersecurity incidents which are determined to be material are escalated to the Audit Committee, and when appropriate, to the Board of Directors. We provide regular, mandatory training for personnel regarding cybersecurity threats as a means to equip our personnel with effective knowledge, tools, and awareness to address cybersecurity threats, and to communicate our evolving information security policies, standards, processes and practices. The personnel training occurs at the time of hiring and at least once annually thereafter. The Cybersecurity Committee, along with other members of executive management, practices the incident response process through an annual tabletop exercise facilitated by external consultants. We engage in the periodic assessment and testing of our policies, standards, processes and practices that are designed to address cybersecurity threats and incidents. These efforts include a wide range of activities, including audits, assessments, tabletop exercises, threat modeling, vulnerability testing, disaster recovery testing, and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. We regularly engage third parties to perform assessments on our cybersecurity measures, including information security maturity assessments, audits and independent reviews of our information security control environment and operating effectiveness. The results of such assessments, audits and reviews are reported to the Audit Committee and the Board of Directors, and we adjust our cybersecurity policies, standards, processes and practices as necessary based on the information provided by these assessments, audits and reviews. A third-party risk management program is in place to address the risks posed by third parties. Through this program, the company evaluates the type of data that is shared with the third party and gains an understanding of the third party’s cybersecurity risk profile. Higher risk third parties complete a vendor security self-assessment designed to provide a deeper level of understanding of the third party’s risks and controls. Based on the results of this assessment, the entity may be added to our third-party monitoring solution, which provides updates and alerts related to the company’s externally facing security posture. Cybersecurity Threats Cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected or are reasonably likely to affect the company, including its business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity Governance We are committed to protecting our intellectual property, customer and employee data, and the information technology systems critical to keeping our customers, employees, contractors and others aligned and allowing our operations to function properly. Our Board of Directors and its committees are involved on an ongoing basis in the oversight of our material enterprise-related risks, including cybersecurity risks. Our processes for oversight of cybersecurity-related risks are fully integrated into our overall enterprise risk management program, which is led by our General Counsel. We assign a member of our executive management team to report material information to our Board of Directors regarding each of our most significant enterprise risks. We have identified a separate risk for enterprise cybersecurity. The Audit Committee, in consultation with the Chief Information Officer, provides primary oversight for cybersecurity risk for the company.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors and its committees are involved on an ongoing basis in the oversight of our material enterprise-related risks, including cybersecurity risks. Our processes for oversight of cybersecurity-related risks are fully integrated into our overall enterprise risk management program, which is led by our General Counsel.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The information security operations team within our information technology function reports to our Chief Information Officer, who regularly updates our Board of Directors and the Audit Committee. The function is governed by various policies on different aspects of cybersecurity. Our Board of Directors and the Audit Committee, as applicable, then reviews such information, including management’s proposed mitigation strategies and plans, to monitor our progress on mitigating the risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The information security operations team within our information technology function reports to our Chief Information Officer, who regularly updates our Board of Directors and the Audit Committee. The function is governed by various policies on different aspects of cybersecurity. Our Board of Directors and the Audit Committee, as applicable, then reviews such information, including management’s proposed mitigation strategies and plans, to monitor our progress on mitigating the risks. Our Chief Information Officer and General Counsel meet regularly with the Board of Directors and its committees to review relevant areas including: • Key metrics of the information security/cybersecurity program; • The purchase of cybersecurity risk insurance to mitigate exposure to the company; • Monitoring and testing of backup and disaster recovery process; • Cybersecurity incident response and remediation procedures; and • Metrics of the company’s training and compliance program on information security and awareness of cyber risk.
Cybersecurity Risk Role of Management [Text Block]	The information security operations team within our information technology function reports to our Chief Information Officer, who regularly updates our Board of Directors and the Audit Committee. The function is governed by various policies on different aspects of cybersecurity. Our Board of Directors and the Audit Committee, as applicable, then reviews such information, including management’s proposed mitigation strategies and plans, to monitor our progress on mitigating the risks. Our Chief Information Officer and General Counsel meet regularly with the Board of Directors and its committees to review relevant areas including: • Key metrics of the information security/cybersecurity program; • The purchase of cybersecurity risk insurance to mitigate exposure to the company; • Monitoring and testing of backup and disaster recovery process; • Cybersecurity incident response and remediation procedures; and • Metrics of the company’s training and compliance program on information security and awareness of cyber risk. In addition, we have a management Cybersecurity Committee, which functions as a steering committee, to provide oversight and strategic direction for the cybersecurity program. The Cybersecurity Committee is comprised of our Chief Information Officer & Theatres Chief Information Technology Officer (“CIO”), Hotels Chief Information Technology Officer, Vice President of Information Security, General Counsel, and Chief Financial Officer. The Cybersecurity Committee meets quarterly to review the cybersecurity program, including risks and the status of key initiatives. Our CIO has served in various roles in information technology for over 35 years. Our Hotels Chief Information Technology Officer holds an undergraduate degree in business administration and a master’s degree in management of information systems and has served in various roles in information technology for over 30 years. Our Vice President of Information Security has served in various roles in information technology and information security for over 15 years. Our General Counsel and Chief Financial Officer each holds undergraduate and graduate degrees in their respective field, and each has significant experience managing risks at the company and at similar companies, including risks arising from cybersecurity threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The information security operations team within our information technology function reports to our Chief Information Officer, who regularly updates our Board of Directors and the Audit Committee. The function is governed by various policies on different aspects of cybersecurity. Our Board of Directors and the Audit Committee, as applicable, then reviews such information, including management’s proposed mitigation strategies and plans, to monitor our progress on mitigating the risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO has served in various roles in information technology for over 35 years. Our Hotels Chief Information Technology Officer holds an undergraduate degree in business administration and a master’s degree in management of information systems and has served in various roles in information technology for over 30 years. Our Vice President of Information Security has served in various roles in information technology and information security for over 15 years. Our General Counsel and Chief Financial Officer each holds undergraduate and graduate degrees in their respective field, and each has significant experience managing risks at the company and at similar companies, including risks arising from cybersecurity threats.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	We assign a member of our executive management team to report material information to our Board of Directors regarding each of our most significant enterprise risks. We have identified a separate risk for enterprise cybersecurity. The Audit Committee, in consultation with the Chief Information Officer, provides primary oversight for cybersecurity risk for the company. The information security operations team within our information technology function reports to our Chief Information Officer, who regularly updates our Board of Directors and the Audit Committee. The function is governed by various policies on different aspects of cybersecurity. Our Board of Directors and the Audit Committee, as applicable, then reviews such information, including management’s proposed mitigation strategies and plans, to monitor our progress on mitigating the risks. Our Chief Information Officer and General Counsel meet regularly with the Board of Directors and its committees to review relevant areas including: • Key metrics of the information security/cybersecurity program; • The purchase of cybersecurity risk insurance to mitigate exposure to the company; • Monitoring and testing of backup and disaster recovery process; • Cybersecurity incident response and remediation procedures; and • Metrics of the company’s training and compliance program on information security and awareness of cyber risk. In addition, we have a management Cybersecurity Committee, which functions as a steering committee, to provide oversight and strategic direction for the cybersecurity program. The Cybersecurity Committee is comprised of our Chief Information Officer & Theatres Chief Information Technology Officer (“CIO”), Hotels Chief Information Technology Officer, Vice President of Information Security, General Counsel, and Chief Financial Officer. The Cybersecurity Committee meets quarterly to review the cybersecurity program, including risks and the status of key initiatives. Our CIO has served in various roles in information technology for over 35 years. Our Hotels Chief Information Technology Officer holds an undergraduate degree in business administration and a master’s degree in management of information systems and has served in various roles in information technology for over 30 years. Our Vice President of Information Security has served in various roles in information technology and information security for over 15 years. Our General Counsel and Chief Financial Officer each holds undergraduate and graduate degrees in their respective field, and each has significant experience managing risks at the company and at similar companies, including risks arising from cybersecurity threats.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 26, 2024
Accounting Policies [Abstract]
Description of Business	Description of Business - The Marcus Corporation and its subsidiaries (the “Company”) operate principally in two business segments: Theatres: Operates multiscreen motion picture theatres in Wisconsin, Illinois, Iowa, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Arkansas, Colorado, Georgia, Kentucky, Louisiana, New York, Pennsylvania, Texas and Virginia and a family entertainment center in Wisconsin. Hotels and Resorts: Owns and operates full service hotels and resorts in Wisconsin, Illinois and Nebraska and manages full service hotels, resorts and other properties in Wisconsin, Illinois, Minnesota, Iowa, Nevada, Pennsylvania, California and Nebraska.
Principles of Consolidation	Principles of Consolidation Investments in affiliates which are 50% or less owned by the Company for which the Company exercises significant influence but does not have control are accounted for on the equity method. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates - The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash Equivalents	Cash Equivalents - The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Amounts due from third-party credit card processors for the settlement of debit and credit card transactions are included in cash equivalents as they are generally collected within three
Restricted Cash	Restricted Cash - Restricted cash consists of bank accounts related to capital expenditure reserve funds, sinking funds, operating reserves and replacement reserves and may include amounts held by a qualified intermediary agent to be used for tax-deferred, like-kind exchange transactions. Restricted cash also includes funds held within the Company's captive insurance entity that are designated to pay expenses related specifically to the captive.
Fair Value Measurements	Fair Value Measurements - Certain financial assets and liabilities are recorded at fair value in the financial statements. Some are measured on a recurring basis while others are measured on a non-recurring basis. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. A fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The Company’s assets and liabilities measured at fair value are classified in one of the following categories: Level 1 - Assets or liabilities for which fair value is based on quoted prices in active markets for identical instruments as of the reporting date. At December 26, 2024 and December 28, 2023, respectively, the Company’s $8,142 and $5,364 of debt and equity securities classified as trading were valued using Level 1 pricing inputs and were included in other current assets. At December 26, 2024 and December 28, 2023, the Company had investments in money market funds of $19,002 and $37,018, respectively, that were valued using Level 1 pricing inputs and were included in cash and cash equivalents. Level 2 - Assets or liabilities for which fair value is based on valuation models for which pricing inputs were either directly or indirectly observable as of the reporting date. At each of December 26, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities were measured using Level 2 pricing inputs. Level 3 - Assets or liabilities for which fair value is based on valuation models with significant unobservable pricing inputs and which result in the use of management estimates. At each of December 26, 2024 and December 28, 2023, none of the Company’s recorded assets or liabilities that are measured on a recurring basis at fair market value were valued using Level 3 pricing inputs. Assets and liabilities that are measured on a non-recurring basis are discussed in Note 3. The carrying value of the Company’s financial instruments (including cash and cash equivalents, restricted cash, accounts receivable and accounts payable) approximates fair value. The fair value of the Company’s $160,000 of senior notes, valued using Level 2 pricing inputs, is approximately $157,155 at December 26, 2024, determined based upon discounted cash flows using current market interest rates for financial instruments with a similar average remaining life. The carrying amounts of the Company’s remaining long-term debt approximate their fair values, determined using current rates for similar instruments, or Level 2 pricing inputs.
Accounts Receivable	Accounts Receivable - The Company evaluates the collectability of its accounts receivable based on a number of factors. For larger accounts, an allowance for doubtful accounts is recorded based on the applicable parties’ ability and likelihood to pay based on management’s review of the facts. For all other accounts, the Company recognizes an allowance based on length of time the receivable is past due based on historical experience and industry practice.
Inventory	Inventory - Inventories, consisting of food and beverage and concession items, are stated at the lower of cost or market. Cost has been determined using the first-in, first-out method. Inventories of $6,971 and $5,914 as of December 26, 2024 and December 28, 2023, respectively, were included in other current assets.
Assets Held for Sale	Assets Held for Sale – Long-lived assets that are expected to be sold within the next 12 months and meet the other relevant held-for-sale criteria are classified as assets held for sale and included within current assets on the consolidated balance sheet. Assets held for sale are measured at the lower of their carrying value or their fair value less costs to sell the asset. As of December 26, 2024, assets held for sale consisted primarily of land.
Property and Equipment	Property and Equipment - The Company records property and equipment at cost. Major renewals and improvements are capitalized, while maintenance and repairs that do not improve or extend the lives of the respective assets are expensed currently. Included in property and equipment are assets related to finance leases. These assets are depreciated over the shorter of the estimated useful lives or related lease terms. Depreciation and amortization of property and equipment are provided using the straight-line method over the shorter of the following estimated useful lives or any related lease terms: Years Land improvements 10 - 20 Buildings and improvements 12 - 39 Leasehold improvements 3 - 40 Furniture, fixtures and equipment 2 - 20 Finance lease right-of-use assets 4 - 15 Depreciation expense totaled $67,964, $67,269 and $67,041 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively.
Long-Lived Assets	Long-Lived Assets - The Company periodically considers whether indicators of impairment of long-lived assets held for use are present. This includes quantitative and qualitative factors, including evaluating the historical actual operating performance of the long-lived assets and assessing the potential impact of recent events and transactions impacting the long-lived assets. If such indicators are present, the Company determines if the long-lived assets are recoverable by assessing whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amounts. If the long-lived assets are not recoverable, the Company recognizes any impairment losses based on the excess of the carrying amount of the assets over their fair value. During fiscal 2024, fiscal 2023 and fiscal 2022, the Company determined that indicators of impairment were present. As such, the Company evaluated the value of its property and equipment and the value of its operating lease right-of-use assets and recorded impairment charges as discussed in Note 3.
Acquisition	Acquisition - The Company recognizes identifiable assets acquired, liabilities assumed and noncontrolling interests assumed in an acquisition at their fair values at the acquisition date based upon all information available to it, including third-party appraisals. Acquisition-related costs, such as due diligence and legal fees, are expensed as incurred. The excess of the acquisition cost over the fair value of the identifiable net assets is reported as goodwill.
Goodwill	Goodwill - The Company reviews goodwill for impairment annually or more frequently if certain indicators arise. The Company performs its annual impairment test on the first day of the fiscal fourth quarter. Goodwill is tested for impairment at a reporting unit level, determined to be at an operating segment level. When reviewing goodwill for impairment, the Company considers the amount of excess fair value over the carrying value of the reporting unit, the period of time since its last quantitative test, and other factors to determine whether or not to first perform a qualitative test. When performing a qualitative test, the Company assesses numerous factors to determine whether it is more likely than not that the fair value of its reporting unit is less than its carrying value. Examples of qualitative factors that the Company assesses include its share price, its financial performance, market and competitive factors in its industry, and other events specific to the reporting unit. If the Company concludes that it is more likely than not that the fair value of its reporting unit is less than it carrying value, the Company performs a quantitative impairment test by comparing the carrying value of the reporting unit to the estimated fair value.
Trade Name Intangible Asset	Trade Name Intangible Asset –
Capitalization of Interest	Capitalization of Interest - The Company capitalizes interest during construction periods by adding such interest to the cost of constructed assets. Interest of approximately $195, $43 and $18 was capitalized in fiscal 2024, fiscal 2023 and fiscal 2022, respectively.
Debt Issuance Costs	Debt Issuance Costs - The Company records debt issuance costs on short-term borrowings and long-term debt as a direct deduction from the related debt liability. Debt issuance costs related to the Company’s revolving credit facility are included in other long-term assets. Debt issuance costs are deferred and amortized over the term of the related debt agreements. Amortization of debt issuance costs totaled $1,080, $1,467 and $1,614 for fiscal 2024, fiscal 2023 and fiscal 2022, respectively, and were included in interest expense on the consolidated statements of operations.
Leases	Leases - The Company follows Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-02, Leases The Company determines if an arrangement is a lease at inception. The Company evaluates each lease for classification as either a finance lease or an operating lease according to accounting guidance ASC 842. The Company performs this evaluation at the inception of the lease and when a modification is made to a lease. The Company leases real estate and equipment with lease terms of one year to 45 years, some of which include options to extend and/or terminate the lease. The exercise of lease renewal options is done at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term and related right-of-use asset and lease liability. The depreciable life of the asset is limited to the expected term. The Company’s lease agreements do not contain any residual value guarantees or any restrictions or covenants. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, the Company uses the implicit rate in the lease in determining the present value of lease payments. When the lease does not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date, including the fixed rate the Company could borrow for a similar amount, over a similar lease term with similar collateral. The Company recognizes right-of-use assets for all assets subject to operating leases in an amount equal to the operating lease liabilities, adjusted for the balances of long-term prepaid rent, favorable lease intangible assets, deferred lease expense, unfavorable lease liabilities and deferred lease incentive liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. The majority of the Company’s lease agreements include fixed rental payments. For those leases with variable payments based on increases in an index subsequent to lease commencement, such payments are recognized as variable lease expense as they occur. Variable lease payments that do not depend on an index or rate, including those that depend on the Company’s performance or use of the underlying asset, are also expensed as incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.
Investments	Investments – The Company has investments in debt and equity securities. These securities are stated at fair value based on listed market prices, where available, with the change in fair value recorded as investment income or loss within the consolidated statements of operations. The cost of securities sold is based upon the specific identification method.
Revenue Recognition	Revenue Recognition - The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance of obligations by transferring the promised services to the customer. A service is transferred to a customer when, or as, the customer obtains control of that service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company’s progress in satisfying the performance obligation in a manner that depicts the transfer of the services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised service. The amount of revenue recognized reflects the consideration entitled to in exchange for those services.
Advertising and Marketing Costs	Advertising and Marketing Costs - The Company expenses all advertising and marketing costs as incurred.
Insurance Reserves	Insurance Reserves - The Company uses a combination of insurance and self insurance mechanisms, including participation in captive insurance entities, to provide for the potential liabilities for certain risks, including workers’ compensation, healthcare benefits, general liability, property insurance, director and officers’ liability insurance, cyber liability, employment practices liability and business interruption. Liabilities associated with the risks that are retained by the company are not discounted and are estimated, in part, by considering historical claims experience, demographic factors and severity factors.
Income Taxes	Income Taxes - The Company recognizes deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets represent items to be used as a tax deduction or credit in the future tax returns for which the Company has already properly recorded the tax benefit in the income statement. The Company regularly assesses the probability that the deferred tax asset balance will be recovered against future taxable income, taking into account such factors as earnings history, carryback and carryforward periods, and tax strategies. When the indications are that recovery is not probable, a valuation allowance is established against the deferred tax asset, increasing income tax expense in the year that conclusion is made.
Earnings (Loss) Per Share	Earnings (Loss) Per Share - Net earnings (loss) per share (EPS) of Common Stock and Class B Common Stock is computed using the two class method. Basic net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted net earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding, adjusted for the effect of dilutive stock options, restricted stock units, performance stock units and convertible debt instruments using the if-converted method. Convertible Class B Common Stock and convertible debt instruments are reflected on an if-converted basis when dilutive to Common Stock. The computation of the diluted net earnings (loss) per share of Common Stock assumes the conversion of Class B Common Stock in periods that have net earnings since it would be dilutive to Common Stock earnings per share, while the diluted net earnings (loss) per share of Class B Common Stock does not assume the conversion of those shares. Holders of Common Stock are entitled to cash dividends per share equal to 110% of all dividends declared and paid on each share of Class B Common Stock. As such, the undistributed earnings (losses) for each period are allocated based on the proportionate share of entitled cash dividends. The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shared outstanding: Year Ended December 26, December 28, December 29, Net earnings (loss) per share – Basic: Common Stock $ (0.25) $ 0.48 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Net earnings (loss) per share- Diluted: Common Stock $ (0.25) $ 0.46 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Numerator: Net earnings (loss) attributable to The Marcus Corporation $ (7,787) $ 14,794 $ (11,972) Denominator (in thousands): Denominator for basic EPS 31,887 31,658 31,488 Effect of dilutive employee stock options — 44 — Effect of restricted stock units — — — Effect of convertible senior notes — 9,287 — Diluted weighted-average shares outstanding 31,887 40,989 31,488 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 2,776 2,933 2,622 Restricted stock units 48 — — Performance stock units 141 — — Convertible senior notes — — 9,141 Total 2,965 2,933 11,763 For the periods when the Company reports a net loss, common stock equivalents, restricted stock units, performance stock units, and shares related to the convertible senior notes are excluded from the computation of diluted loss per share as their inclusion would have an anti-dilutive effect. Performance stock units are considered anti-dilutive if the performance targets upon which the issuance of the shares are contingent have not been achieved and the respective performance period has not been completed as of the end of the current period. Shares related to the convertible senior notes were excluded from the computation of diluted earnings per share in the periods when the effect had an anti-dilutive effect using the if-converted method.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss – Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax: December 26, 2024 December 28, 2023 Net unrecognized actuarial loss for pension obligation $ (181) $ (1,336) $ (181) $ (1,336)
New Accounting Pronouncements	New Accounting Pronouncements In fiscal 2023, the Company adopted Accounting Standard Update (ASU) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update provided optional expedients and exceptions to the then existing guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (LIBOR), or other interbank offered rates, to alternative reference rates such as the Secured Overnight Financing Rate (SOFR). Upon adoption, the Company elected SOFR as its ongoing reference rate. The adoption of the new standard did not have a material effect on the Company’s consolidated financial statements. In fiscal 2024, the Company adopted ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU No. 2023-07) , which requires disclosure of incremental segment information on an annual and interim basis. The annual requirements of ASU No. 2023-07 are included in the Company’s Business Segment footnote (Note 13) and prior year information has been recast to conform to the current year presentation. The interim requirements of ASU No. 2023-07 are effective for the Company the first quarter of fiscal 2025. The adoption of the new standard did not have a material effect on the Company’s consolidated financial statements. In December 2023, the Financial Accounting Standards Board ( FASB) issued ASU No. 2023-09, Income Taxes (Topic 740: Improvements to Income Tax Disclosures (ASU No. 2023-09 ), which requires improvements to income tax disclosures primarily related to rate reconciliation and income taxes paid information. ASU No. 2023-09 will be effective for the Company in fiscal 2025 and must be applied prospectively with retrospective application permitted. The Company is evaluating the impact that ASU No. 2023-09 will have on its consolidated financial statement disclosures. On November 4, 2024, the FASB ASU No. 2024-03, Disaggregation of Income Statement Expenses (DISE), which requires disaggregated disclosure of income statement expenses for public business entities. ASU No. 2024-03 does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 26, 2024
Accounting Policies [Abstract]
Schedule Of Depreciation And Amortization Of Property And Equipment	Depreciation and amortization of property and equipment are provided using the straight-line method over the shorter of the following estimated useful lives or any related lease terms: Years Land improvements 10 - 20 Buildings and improvements 12 - 39 Leasehold improvements 3 - 40 Furniture, fixtures and equipment 2 - 20 Finance lease right-of-use assets 4 - 15
Schedule of Earnings Per Share, Basic and Diluted	The following table illustrates the computation of Common Stock and Class B Common Stock basic and diluted net earnings (loss) per share, provides a reconciliation of the number of weighted-average basic and diluted shares outstanding, when applicable, and provides the weighted-average number of anti-dilutive shares excluded from the computation of diluted weighted-average shared outstanding: Year Ended December 26, December 28, December 29, Net earnings (loss) per share – Basic: Common Stock $ (0.25) $ 0.48 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Net earnings (loss) per share- Diluted: Common Stock $ (0.25) $ 0.46 $ (0.39) Class B Common Stock $ (0.23) $ 0.43 $ (0.35) Numerator: Net earnings (loss) attributable to The Marcus Corporation $ (7,787) $ 14,794 $ (11,972) Denominator (in thousands): Denominator for basic EPS 31,887 31,658 31,488 Effect of dilutive employee stock options — 44 — Effect of restricted stock units — — — Effect of convertible senior notes — 9,287 — Diluted weighted-average shares outstanding 31,887 40,989 31,488 Weighted-average number of anti-dilutive shares excluded from denominator (in thousands): Employee stock options 2,776 2,933 2,622 Restricted stock units 48 — — Performance stock units 141 — — Convertible senior notes — — 9,141 Total 2,965 2,933 11,763
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss presented in the accompanying consolidated balance sheets consists of the following, all presented net of tax: December 26, 2024 December 28, 2023 Net unrecognized actuarial loss for pension obligation $ (181) $ (1,336) $ (181) $ (1,336)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 26, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The disaggregation of revenues by business segment for fiscal 2024, fiscal 2023 and fiscal 2022 is as follows: Fiscal 2024 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 214,421 $ — $ — $ 214,421 Rooms — 113,344 — 113,344 Theatre concessions 191,989 — — 191,989 Food and beverage — 78,102 — 78,102 Other revenues (1) 39,999 56,900 331 97,230 Revenue before cost reimbursements 446,409 248,346 331 695,086 Cost reimbursements 1,314 39,160 — 40,474 Total revenues $ 447,723 $ 287,506 $ 331 $ 735,560 Fiscal 2023 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 229,186 $ — $ — $ 229,186 Rooms — 106,618 — 106,618 Theatre concessions 197,653 — — 197,653 Food and beverage — 73,278 — 73,278 Other revenues (1) 31,555 53,519 346 85,420 Revenue before cost reimbursements 458,394 233,415 346 692,155 Cost reimbursements — 37,420 — 37,420 Total revenues $ 458,394 $ 270,835 $ 346 $ 729,575 Fiscal 2022 Reportable Segment Theatres Hotels/Resorts Corporate Total Theatre admissions $ 198,485 $ — $ — $ 198,485 Rooms — 107,699 — 107,699 Theatre concessions 180,180 — — 180,180 Food and beverage — 74,836 — 74,836 Other revenues (1) 29,076 53,117 367 82,560 Revenue before cost reimbursements 407,741 235,652 367 643,760 Cost reimbursements — 33,634 — 33,634 Total revenues $ 407,741 $ 269,286 $ 367 $ 677,394 (1) Included in other revenues is an immaterial amount related to rental income that is not considered contract revenue from contracts with customers under ASC 606.

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	12 Months Ended
	Dec. 26, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The composition of accounts receivable is as follows: December 26, 2024 December 28, 2023 Trade receivables, net of allowances of $141 and $115, respectively $ 6,900 $ 7,636 Other receivables 14,557 12,067 $ 21,457 $ 19,703
Schedule of Property, Plant and Equipment	The composition of property and equipment, which is stated at cost, is as follows: December 26, 2024 December 28, 2023 Land and improvements $ 129,991 $ 131,833 Buildings and improvements 736,408 719,521 Leasehold improvements 166,149 166,245 Furniture, fixtures and equipment 424,807 397,150 Finance lease right-of-use assets 29,061 30,106 Construction in progress 15,590 11,432 1,502,006 1,456,287 Less accumulated depreciation and amortization 816,272 774,025 $ 685,734 $ 682,262
Schedule of Other Assets	The composition of other assets is as follows: December 26, 2024 December 28, 2023 Intangible assets $ 6,900 $ 6,904 Cash surrender value of insurance policy 8,709 8,276 Other assets 7,723 9,443 $ 23,332 $ 24,623

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 26, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt is summarized as follows: December 26, 2024 December 28, 2023 Senior notes $ 160,000 $ 70,000 Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75% 78 528 Convertible senior notes — 100,050 Payroll Protection Program loans 314 1,233 Revolving credit agreement — — Total debt 160,392 171,811 Debt issuance costs (1,252) (1,960) Total debt, net of debt issuance costs 159,140 169,851 Less current maturities, net of issuance costs 10,133 10,303 Long-term debt $ 149,007 $ 159,548
Schedule of Maturities of Long-term Debt	Scheduled annual principal payments on long-term debt for the years subsequent to December 26, 2024, are as follows: Fiscal Year 2025 $ 10,392 2026 — 2027 62,000 2028 17,714 2029 17,714 Thereafter 52,572 $ 160,392

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 26, 2024
Leases [Abstract]
Schedule of Lease, Cost	Total lease cost consists of the following: Lease Cost Classification Fiscal 2024 Fiscal 2023 Fiscal 2022 Finance lease costs: Amortization of finance lease assets Depreciation and amortization $ 2,274 $ 2,760 $ 2,789 Interest on lease liabilities Interest expense 664 759 850 $ 2,938 $ 3,519 $ 3,639 Operating lease costs: Operating lease costs Rent expense $ 23,953 $ 24,126 $ 25,381 Variable lease cost Rent expense 1,724 1,892 514 Short-term lease cost Rent expense 234 136 142 $ 25,911 $ 26,154 $ 26,037
Schedule of Other Information Related to Leases	Additional information related to leases is as follows: Other Information Fiscal 2024 Fiscal 2023 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2,470 $ 2,527 Operating cash flows from finance leases 664 759 Operating cash flows from operating leases 25,183 25,391 Right of use assets obtained in exchange for new lease obligations: Finance lease liabilities 232 357 Operating lease liabilities, including from acquisitions 3,394 276 December 26, 2024 December 28, 2023 Finance leases: Property and equipment – gross $ 29,061 $ 30,106 Accumulated depreciation and amortization (19,078) (17,956) Property and equipment - net $ 9,983 $ 12,150
Schedule of Lease Term and Discount Rate	Remaining lease terms and discount rates are as follows: Lease Term and Discount Rate December 26, 2024 December 28, 2023 Weighted-average remaining lease terms: Finance leases 6 years 7 years Operating leases 11 years 12 years Weighted-average discount rates: Finance leases 4.69% 4.62% Operating leases 4.79% 4.52%
Schedule of Maturities of Operating and Finance Leases Liabilities	Maturities of lease liabilities as of December 26, 2024 are as follows: Fiscal Year Operating Leases Finance Leases 2025 $ 23,963 $ 3,144 2026 24,951 3,027 2027 23,341 2,054 2028 22,478 1,923 2029 21,066 1,578 Thereafter 118,461 3,157 Total lease payments 234,260 14,883 Less: amount representing interest (53,719) (1,932) Total lease liabilities $ 180,541 $ 12,951

Shareholders' Equity and Shar_2

Shareholders' Equity and Share-Based Compensation (Tables)	12 Months Ended
	Dec. 26, 2024
Equity [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the Company’s stock option activity and related information follows (shares in thousands): Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Options Weighted- Options Weighted- Options Weighted- Outstanding at beginning of period 3,173 $ 22.69 2,866 $ 23.76 2,533 $ 24.84 Granted — — 525 15.96 501 16.99 Exercised (129) 15.34 (83) 13.05 (68) 13.15 Forfeited (160) 18.94 (135) 25.11 (100) 24.89 Outstanding at end of period 2,884 23.22 3,173 22.69 2,866 23.76 Exercisable at end of period 2,125 $ 25.48 1,989 $ 25.53 1,613 $ 25.70 Weighted-average fair value of options granted during the period n/a $ 7.86 $ 7.71
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Additional information as of December 26, 2024 related to options outstanding segregated by exercise price range is as follows (shares in thousands): Exercise Price Range $12.71 to $17.05 $17.06 to $27.00 $27.01 to $41.90 Options outstanding 1,095 943 846 Weighted-average exercise price of options outstanding $ 15.97 $ 22.61 $ 33.30 Weighted-average remaining contractual life of options outstanding 7.4 4.0 4.2 Options exercisable 422 857 846 Weighted-average exercise price of options exercisable $ 15.46 $ 22.70 $ 33.30
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of the Company’s restricted stock activity and related information follows (shares in thousands): Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Shares Weighted- Shares Weighted- Shares Weighted- Outstanding at beginning of period 238 $ 17.41 212 $ 21.07 357 $ 23.32 Granted 476 15.18 107 15.68 100 17.63 Vested (47) 21.37 (81) 23.77 (242) 22.95 Forfeited — — — — (3) 22.93 Outstanding at end of period 667 $ 15.54 238 $ 17.41 212 $ 21.07 A summary of the Company’s RSU activity and related information follows (shares in thousands): RSUs Shares Weighted- December 28, 2023 — $ — Granted 52 14.79 Vested (5) 14.84 Forfeited — — December 26, 2024 47 $ 14.79
Share-Based Payment Arrangement, Performance Shares, Outstanding Activity	A summary of the Company’s PSU activity and related information follows (shares in thousands): PSUs Shares Weighted- December 28, 2023 — $ — Granted 143 14.84 Vested — — Forfeited (4) 14.84 December 26, 2024 139 $ 14.84

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 26, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Changes in Projected Benefit Obligations	The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 26, 2024 and December 28, 2023 measurement dates is as follows: December 26, December 28, Change in benefit obligation: Benefit obligation at beginning of period $ 36,349 $ 36,324 Service cost 248 487 Interest cost 1,778 1,811 Actuarial gain (1,627) (656) Benefits paid (1,765) (1,617) Benefit obligation at end of year $ 34,983 $ 36,349 Amounts recognized in the statement of financial position consist of: Current accrued benefit liability (included in Other accrued liabilities) $ (2,315) $ (2,060) Noncurrent accrued benefit liability (included in Other long-term obligations) (32,668) (34,289) Total $ (34,983) $ (36,349) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial loss $ 377 $ 2,004 Prior service credit (132) (196) Total $ 245 $ 1,808
Schedule of Net Periodic Pension Cost	Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Net periodic pension cost: Service cost $ 248 $ 487 $ 1,055 Interest cost 1,778 1,811 1,341 Net amortization of prior service cost and actuarial loss (64) (64) 1,028 $ 1,962 $ 2,234 $ 3,424
Schedule of Pre-tax Change in the Benefit Obligation	The pre-tax change in the benefit obligation recognized in other comprehensive loss was as follows: Year Ended December 26, 2024 December 28, 2023 Net actuarial gain $ (1,627) (656) Amortization of the prior year service credit 64 64 Total $ (1,563) (592)
Schedule of Assumptions Used	The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows: December 26, 2024 December 28, 2023 Discount rate 5.45% 5.00% Rate of compensation increase 4.00% 4.00% The weighted-average assumptions used to determine net periodic benefit cost were as follows: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Discount rate 5.00% 5.05% 2.85% Rate of compensation increase 4.00% 4.00% 4.00%
Schedule of Expected Benefit Payments	Benefit payments expected to be paid subsequent to December 26, 2024, are as follows: Fiscal Year 2025 $ 2,377 2026 2,384 2027 2,371 2028 2,621 2029 3,273 Years 2030 – 2034 15,560

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 26, 2024
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The components of the net deferred tax liability are as follows: December 26, 2024 December 28, 2023 Deferred tax assets Accrued employee benefits $ 13,171 $ 13,653 Operating lease liabilities 47,121 50,601 Gift card liabilities 6,030 6,490 Net operating loss, disallowed interest & tax credit carryforwards 18,784 21,069 Other 130 2,378 Total 85,236 94,191 Less valuation allowance (3,583) (11,338) Deferred tax assets 81,653 82,853 Deferred tax liabilities Depreciation and amortization (68,767) (68,164) Operating lease assets (41,549) (46,924) Deferred tax liabilities (110,316) (115,088) Net deferred tax liability $ (28,663) $ (32,235) Amounts recognized in the consolidated balance sheets consist of: Deferred income taxes - other assets $ 3,956 $ — Deferred income taxes - liabilities (32,619) (32,235) Net amount recognized $ (28,663) $ (32,235)
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense (benefit) consists of the following: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Current: Federal $ 846 $ 603 $ (452) State 713 692 556 Deferred: Federal 2,833 3,900 (3,222) State (6,814) 1,661 10,255 $ (2,422) $ 6,856 $ 7,137
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the statutory federal tax rate to the effective tax rate on earnings attributable to The Marcus Corporation follows: Year Ended December 26, 2024 December 28, 2023 December 29, 2022 Statutory federal tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax benefit (7.4) 11.4 4.3 Tax credits, net of federal income tax benefit 12.7 (5.6) 22.9 Valuation allowance 76.0 (4.8) (205.9) Federal income tax benefit on state valuation allowance (16.0) 1.0 53.7 Excess tax benefits on share-based compensation (3.3) 2.8 (22.1) Other compensation and benefits (17.5) 5.4 (15.6) Meals and entertainment (2.6) 1.1 (4.1) Debt conversion (38.1) — — Other (1.1) (0.6) (1.8) 23.7 % 31.7 % (147.6) %

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 26, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Following is a summary of business segment information for fiscal 2024, fiscal 2023 and fiscal 2022: Theatres Hotels/Resorts Total Fiscal 2024 Total Revenues $ 447,723 $ 287,506 $ 735,229 Less: Costs and expenses Theatre operations 225,472 — 225,472 Rooms — 43,425 43,425 Theatre concessions 78,406 — 78,406 Food and beverage — 60,419 60,419 Advertising and marketing 5,485 18,903 24,388 Administrative 23,304 42,540 65,844 Depreciation and amortization 45,352 21,917 67,269 Rent 23,551 1,899 25,450 Property taxes 9,607 5,029 14,636 Impairment charges 6,823 — 6,823 Reimbursed costs 1,314 39,160 40,474 Other segment items (2) 6,262 35,737 41,999 Total costs and expenses 425,576 269,029 694,605 Operating income $ 22,147 $ 18,477 $ 40,624 Investment income 2,231 Interest expense (10,972) Other income (expense), net (1,513) Debt conversion expense (15,521) Equity losses from unconsolidated joint ventures, net (604) Corporate items (1) (24,454) Net loss before income taxes $ (10,209) Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 932 $ 1,053 $ 6,221 $ 8,206 Assets 643,488 310,856 90,184 1,044,528 Capital expenditures 20,961 48,930 9,319 79,210 Theatres Hotels/Resorts Total Fiscal 2023 Total Revenues $ 458,394 $ 270,835 $ 729,229 Less: Costs and expenses Theatre operations 230,770 — 230,770 Rooms — 41,071 41,071 Theatre concessions 75,903 — 75,903 Food and beverage — 57,871 57,871 Advertising and marketing 4,277 18,362 22,639 Administrative 23,609 35,423 59,032 Depreciation and amortization 48,378 18,569 66,947 Rent 23,952 1,801 25,753 Property taxes 12,253 5,583 17,836 Impairment charges 1,061 — 1,061 Reimbursed costs — 37,420 37,420 Other segment items (2) 2,015 37,222 39,237 Total costs and expenses 422,218 253,322 675,540 Operating income $ 36,176 $ 17,513 $ 53,689 Investment income 2,426 Interest expense (12,721) Other income (expense), net (1,832) Equity losses from unconsolidated joint ventures, net (149) Corporate items (1) (19,763) Net earnings before income taxes $ 21,650 Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 900 $ 979 $ 4,515 $ 6,394 Assets 696,128 280,568 88,407 1,065,103 Capital expenditures 15,131 22,890 753 38,774 Theatres Hotels/Resorts Total Fiscal 2022 Total Revenues $ 407,741 $ 269,286 $ 677,027 Less: Costs and expenses Theatre operations 212,410 — 212,410 Rooms — 41,561 41,561 Theatre concessions 73,124 — 73,124 Food and beverage — 59,272 59,272 Advertising and marketing 5,159 18,505 23,664 Administrative 22,355 34,669 57,024 Depreciation and amortization 47,560 19,160 66,720 Rent 23,335 2,298 25,633 Property taxes 11,754 6,052 17,806 Impairment charges 1,525 — 1,525 Reimbursed costs — 33,634 33,634 Other segment items (2) 2,411 35,436 37,847 Total costs and expenses 399,633 250,587 650,220 Operating income $ 8,108 $ 18,699 $ 26,807 Investment income (45) Interest expense (15,299) Other income (expense), net (1,060) Gain on sale of hotel 6,274 Equity losses from unconsolidated joint ventures, net (143) Corporate items (1) (18,501) Net loss before income taxes $ (1,967) Theatres Hotels/ Corporate Items (1) Total Additional Disclosures Share-based compensation $ 2,757 $ 1,045 $ 4,368 $ 8,170 Assets 750,941 277,990 35,667 1,064,598 Capital expenditures 12,087 24,515 241 36,843 (1) Corporate items include amounts not allocable to the business segments. Corporate revenues consist principally of rent and the corporate operating loss includes general corporate expenses. Corporate information technology costs and accounting shared services costs are allocated to the business segments based upon several factors, including actual usage and segment revenues. Corporate assets primarily include cash and cash equivalents, furniture, fixtures and equipment, investments and land held for development. (2) Other segment items includes losses or gains on disposition of property, equipment and other assets, preopening expenses, and other operating expenses.

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 26, 2024 USD ($) segment	Dec. 28, 2023 USD ($)	Dec. 29, 2022 USD ($)
Summary of Significant Accounting Policies [Line Items]
Number of operating segments | segment	2
Ownership interest in joint ventures	50%
Period of settlement for debit and credit card transactions	3 days
Senior notes, noncurrent	$ 160,000,000	$ 70,000,000
Inventory, net	6,971,000	5,914,000
Depreciation	67,964,000	67,269,000	$ 67,041,000
Impairment	0	0
Goodwill	74,996,000	74,996,000
Interest costs capitalized	195,000	43,000	18,000
Amortization of debt issuance costs	$ 1,080,000	1,467,000	$ 1,614,000
Class B Common Stock
Summary of Significant Accounting Policies [Line Items]
Percentage of cash dividends	110%
Level 1
Summary of Significant Accounting Policies [Line Items]
Trading securities, fair value	$ 8,142,000	5,364,000
Level 1 | Money Market Funds
Summary of Significant Accounting Policies [Line Items]
Investments in money market funds	19,002,000	37,018,000
Level 2 | Senior Notes
Summary of Significant Accounting Policies [Line Items]
Long-term debt, fair value	157,155,000
Level 2 | Fair Value, Recurring
Summary of Significant Accounting Policies [Line Items]
Fair value, asset (liability)	0	0
Level 3 | Fair Value, Recurring
Summary of Significant Accounting Policies [Line Items]
Fair value, asset (liability)	$ 0	$ 0
Maximum | With Significant Influence But Does Not Have Control
Summary of Significant Accounting Policies [Line Items]
Ownership percentage	50%

Description of Business and S_5

Description of Business and Summary of Significant Accounting Policies - Schedule of Depreciation and Amortization of Property and Equipment (Details)	Dec. 26, 2024
Land and improvements | Minimum
Summary of Significant Accounting Policies [Line Items]
Useful life	10 years
Land and improvements | Maximum
Summary of Significant Accounting Policies [Line Items]
Useful life	20 years
Buildings and improvements | Minimum
Summary of Significant Accounting Policies [Line Items]
Useful life	12 years
Buildings and improvements | Maximum
Summary of Significant Accounting Policies [Line Items]
Useful life	39 years
Leasehold improvements | Minimum
Summary of Significant Accounting Policies [Line Items]
Useful life	3 years
Leasehold improvements | Maximum
Summary of Significant Accounting Policies [Line Items]
Useful life	40 years
Furniture, fixtures and equipment | Minimum
Summary of Significant Accounting Policies [Line Items]
Useful life	2 years
Furniture, fixtures and equipment | Maximum
Summary of Significant Accounting Policies [Line Items]
Useful life	20 years
Finance lease right-of-use assets | Minimum
Summary of Significant Accounting Policies [Line Items]
Useful life	4 years
Finance lease right-of-use assets | Maximum
Summary of Significant Accounting Policies [Line Items]
Useful life	15 years

Description of Business and S_6

Description of Business and Summary of Significant Accounting Policies - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Numerator:
Net earnings (loss) attributable to The Marcus Corporation	$ (7,787)	$ 14,794	$ (11,972)
Denominator (in thousands):
Denominator for basic EPS (in shares)	31,887	31,658	31,488
Effect of dilutive employee stock options (in shares)	0	44	0
Effect of restricted stock units (in shares)	0	0	0
Effect of convertible senior notes (in shares)	0	9,287	0
Diluted weighted-average shares outstanding (in shares)	31,887	40,989	31,488
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Antidilutive securities excluded from computation of earnings per share (in shares)	2,965	2,933	11,763
Employee stock options
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Antidilutive securities excluded from computation of earnings per share (in shares)	2,776	2,933	2,622
Restricted stock units
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Antidilutive securities excluded from computation of earnings per share (in shares)	48	0	0
Performance stock units
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Antidilutive securities excluded from computation of earnings per share (in shares)	141	0	0
Convertible senior notes
Weighted-average number of anti-dilutive shares excluded from denominator (in thousands):
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0	9,141
Common Stock
NET EARNINGS (LOSS) PER SHARE – BASIC:
Net earnings (loss) per share – basic (in dollars per share)	$ (0.25)	$ 0.48	$ (0.39)
Net earnings (loss) per share- Diluted:
Net earnings (loss) per share – diluted (in dollars per share)	(0.25)	0.46	(0.39)
Class B Common Stock
NET EARNINGS (LOSS) PER SHARE – BASIC:
Net earnings (loss) per share – basic (in dollars per share)	(0.23)	0.43	(0.35)
Net earnings (loss) per share- Diluted:
Net earnings (loss) per share – diluted (in dollars per share)	$ (0.23)	$ 0.43	$ (0.35)

Description of Business and S_7

Description of Business and Summary of Significant Accounting Policies - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Accounting Policies [Abstract]
Net unrecognized actuarial loss for pension obligation	$ (181)	$ (1,336)
Accumulated other comprehensive loss, net of tax	$ (181)	$ (1,336)

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Revenue Recognition
Revenue before cost reimbursements	$ 695,086	$ 692,155	$ 643,760
Cost reimbursements	40,474	37,420	33,634
Total revenues	735,560	729,575	677,394
Theatre admissions
Revenue Recognition
Revenue from contract with customer	214,421	229,186	198,485
Rooms
Revenue Recognition
Revenue from contract with customer	113,344	106,618	107,699
Theatre concessions
Revenue Recognition
Revenue from contract with customer	191,989	197,653	180,180
Food and beverage
Revenue Recognition
Revenue from contract with customer	78,102	73,278	74,836
Other revenues
Revenue Recognition
Revenue from contract with customer	97,230	85,420	82,560
Operating Segments
Revenue Recognition
Total revenues	735,229	729,229	677,027
Operating Segments | Theatres
Revenue Recognition
Revenue before cost reimbursements	446,409	458,394	407,741
Cost reimbursements	1,314	0	0
Total revenues	447,723	458,394	407,741
Operating Segments | Hotels/Resorts
Revenue Recognition
Revenue before cost reimbursements	248,346	233,415	235,652
Cost reimbursements	39,160	37,420	33,634
Total revenues	287,506	270,835	269,286
Operating Segments | Theatre admissions | Theatres
Revenue Recognition
Revenue from contract with customer	214,421	229,186	198,485
Operating Segments | Theatre admissions | Hotels/Resorts
Revenue Recognition
Revenue from contract with customer	0	0	0
Operating Segments | Rooms | Theatres
Revenue Recognition
Revenue from contract with customer	0	0	0
Operating Segments | Rooms | Hotels/Resorts
Revenue Recognition
Revenue from contract with customer	113,344	106,618	107,699
Operating Segments | Theatre concessions | Theatres
Revenue Recognition
Revenue from contract with customer	191,989	197,653	180,180
Operating Segments | Theatre concessions | Hotels/Resorts
Revenue Recognition
Revenue from contract with customer	0	0	0
Operating Segments | Food and beverage | Theatres
Revenue Recognition
Revenue from contract with customer	0	0	0
Operating Segments | Food and beverage | Hotels/Resorts
Revenue Recognition
Revenue from contract with customer	78,102	73,278	74,836
Operating Segments | Other revenues | Theatres
Revenue Recognition
Revenue from contract with customer	39,999	31,555	29,076
Operating Segments | Other revenues | Hotels/Resorts
Revenue Recognition
Revenue from contract with customer	56,900	53,519	53,117
Corporate Items
Revenue Recognition
Revenue before cost reimbursements	331	346	367
Cost reimbursements	0	0	0
Total revenues	331	346	367
Corporate Items | Theatre admissions
Revenue Recognition
Revenue from contract with customer	0	0	0
Corporate Items | Rooms
Revenue Recognition
Revenue from contract with customer	0	0	0
Corporate Items | Theatre concessions
Revenue Recognition
Revenue from contract with customer	0	0	0
Corporate Items | Food and beverage
Revenue Recognition
Revenue from contract with customer	0	0	0
Corporate Items | Other revenues
Revenue Recognition
Revenue from contract with customer	$ 331	$ 346	$ 367

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Revenue Recognition
Deferred revenue	$ 36,353,000	$ 38,034,000	$ 37,046,000
Contract assets	0	0
Deferred revenue, revenue recognized	22,488,000	$ 18,587,000
Operating Segments | Theatres
Revenue Recognition
Remaining performance obligation related to theatres gift cards	16,002,000
Operating Segments | Hotels/Resorts
Revenue Recognition
Remaining performance obligation related to hotels gift cards	4,784,000
Advanced Sale of Tickets
Revenue Recognition
Remaining performance obligation, amount	$ 2,033,000
Advanced Sale of Tickets and Gift Cards
Revenue Recognition
Redeemed revenue from advanced tickets and gift cards sales occurred	2 years
Gift Cards
Revenue Recognition
Redeemed revenue from advanced tickets and gift cards sales occurred	2 years

Impairment Charges (Detail)

Impairment Charges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Impairment Charge [Line Items]
Impairment charges	$ 6,823	$ 1,061	$ 1,525
Impaired assets, net	16,137	6,429	5,229
Level 3
Impairment Charge [Line Items]
Impairment charges	$ 6,823	$ 1,061	$ 1,525

Asset Sale (Details)

Asset Sale (Details) - Skrivin Hilton Hotel - Disposed of by Sale - USD ($) $ in Thousands		12 Months Ended
	Dec. 16, 2022	Dec. 28, 2023	Dec. 29, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	$ 36,750
Net proceeds from sale of hotel	31,101
Transaction cost	609
Retirement of ground lease obligation	5,040
Repayments of secured debt	24,111
Gain (Loss) on disposition of assets	$ 6,274
Revenue			$ 15,979
Operating loss			(387)
Distribution to noncontrolling interest on sale of assets		$ 824	$ 2,044

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Balance Sheet Related Disclosures [Abstract]
Trade receivables, net of allowances of $141 and $115, respectively	$ 6,900	$ 7,636
Other receivables	14,557	12,067
Accounts receivable, net of reserves	21,457	19,703
Accounts receivable, allowance for credit loss	$ 141	$ 115

Additional Balance Sheet Info_4

Additional Balance Sheet Information - Schedule of Composition of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Gross property and equipment	$ 1,502,006	$ 1,456,287
Less accumulated depreciation and amortization	816,272	774,025
Net property and equipment	685,734	682,262
Land and improvements
Gross property and equipment	129,991	131,833
Buildings and improvements
Gross property and equipment	736,408	719,521
Leasehold improvements
Gross property and equipment	166,149	166,245
Furniture, fixtures and equipment
Gross property and equipment	424,807	397,150
Finance lease right-of-use assets
Gross property and equipment	29,061	30,106
Construction in progress
Gross property and equipment	$ 15,590	$ 11,432

Additional Balance Sheet Info_5

Additional Balance Sheet Information - Schedule of Composition of Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023
Balance Sheet Related Disclosures [Abstract]
Intangible assets	$ 6,900	$ 6,904
Cash surrender value of insurance policy	8,709	8,276
Other assets	7,723	9,443
Other assets, noncurrent	23,332	24,623
Trade Names
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired	$ 6,900	$ 6,900

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023
Debt Disclosure [Abstract]
Principal and interest payments	$ 39	$ 39
Interest rate of unsecured term note (as percent)	5.75%	5.75%
Senior notes	$ 160,000	$ 70,000
Unsecured term note due February 2025, with monthly principal and interest payments of $39, bearing interest at 5.75%	78	528
Convertible senior notes	0	100,050
Payroll Protection Program loans	314	1,233
Revolving credit agreement	0	0
Total debt	160,392	171,811
Debt issuance costs	(1,252)	(1,960)
Total debt, net of debt issuance costs	159,140	169,851
Less current maturities, net of issuance costs	10,133	10,303
Long-term debt	$ 149,007	$ 159,548

Long-Term Debt - Schedule of Ma

Long-Term Debt - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Debt Disclosure [Abstract]
2025	$ 10,392
2026	0
2027	62,000
2028	17,714
2029	17,714
Thereafter	52,572
Total debt	$ 160,392	$ 171,811

Long-Term Debt - Credit Agreeme

Long-Term Debt - Credit Agreement (Details) - USD ($)		14 Months Ended
	Oct. 16, 2023	Dec. 26, 2024	Dec. 28, 2023
Debt Instrument [Line Items]
Revolving credit agreement		$ 0	$ 0
Secured Overnight Financing Rate (SOFR) | Term Loan A
Debt Instrument [Line Items]
Specified margin (as a percent)		1.75%
ABR | Term Loan A
Debt Instrument [Line Items]
Specified margin (as a percent)		0.75%
Revolving Credit Facility
Debt Instrument [Line Items]
Term of debt	5 years
Maximum borrowing capacity	$ 225,000,000	$ 225,000,000
Revolving credit agreement		$ 0
Effective interest rate		7.28%
Remaining borrowing capacity		$ 220,185,000
Debt leverage ratio not exceed		3.50
Material acquisition benchmark amount		$ 30,000,000
Interest coverage ratio		3
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Facility fee (as a percent)		0.175%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Facility fee (as a percent)		0.275%
Revolving Credit Facility | Greater of Federal Funds Rate or Overnight Bank Funding Rate
Debt Instrument [Line Items]
Specified margin (as a percent)		0.50%
Revolving Credit Facility | For Full Fiscal Quarter If Material Acquisition Is Consummated
Debt Instrument [Line Items]
Debt leverage ratio not exceed		4
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Specified margin (as a percent)		0.10%
Floor		0%
Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | Based Upon Net Leverage Ratio
Debt Instrument [Line Items]
Specified margin (as a percent)		1%
Floor		1%
Revolving Credit Facility | One-Month Secured Overnight Financing Rate (SOFR) | Based Upon Net Leverage Ratio
Debt Instrument [Line Items]
Specified margin (as a percent)		0.10%

Long-Term Debt - Senior Notes (

Long-Term Debt - Senior Notes (Details)		12 Months Ended
	Jul. 09, 2024 USD ($)	Dec. 26, 2024 USD ($) agreement	Dec. 28, 2023 USD ($)
Debt Instrument [Line Items]
Senior notes, noncurrent		$ 160,000,000	$ 70,000,000
Note Purchase Agreement
Debt Instrument [Line Items]
Senior notes, noncurrent		$ 160,000,000
Number of agreements | agreement		2
Note Purchase Agreement | Minimum
Debt Instrument [Line Items]
Interest rate		4.02%
Note Purchase Agreement | Maximum
Debt Instrument [Line Items]
Interest rate		7.02%
Senior Notes
Debt Instrument [Line Items]
Number of agreements | agreement		1
Weighted average interest rate		5.94%	4.23%
Face amount	$ 100,000,000
Proceeds from issuance of debt	$ 100,000,000
Senior Notes | Six Point Eight Nine Percent Series 2024 Senior Notes, Tranche A
Debt Instrument [Line Items]
Interest rate	6.89%
Face amount	$ 60,000,000
Proceeds from issuance of debt	$ 60,000,000
Senior Notes | Seven Pint Zero Two Percent Series 2024 Senior Notes, Tranche B
Debt Instrument [Line Items]
Interest rate	7.02%
Face amount	$ 40,000,000
Proceeds from issuance of debt	$ 40,000,000

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes (Details)	12 Months Ended
	Dec. 26, 2024 USD ($) tranche	Dec. 28, 2023 USD ($)	Dec. 29, 2022 USD ($)	Sep. 17, 2020 USD ($)
Debt Instrument [Line Items]
Debt conversion expense	$ 15,521,000	$ 0	$ 0
Capped call unwind	17,641,000
Capital in Excess of Par
Debt Instrument [Line Items]
Capped call unwind	17,641,000
Convertible Senior Notes due 2025
Debt Instrument [Line Items]
Face amount				$ 100,050,000
Interest rate				5%
Convertible Senior Notes due 2025 | Convertible Senior Notes Repurchases
Debt Instrument [Line Items]
Repurchased face amount	100,050,000
Repurchased amount	121,828,000
Debt instrument, repurchase amount, net of cash received	$ 103,547,000
Debt instrument, number of unwind tranches | tranche	4
Proceeds from capped call unwinds	$ 18,281,000
Debt conversion expense	$ 15,521,000

Long-Term Debt - Derivatives (D

Long-Term Debt - Derivatives (Details) - Interest Rate Swap - USD ($)	Dec. 26, 2024	Mar. 01, 2018
Debt Instrument [Line Items]
Notional amount		$ 25,000,000
Fixed interest rate		2.687%
Interest rate fair value hedge assets at fair value	$ 0

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	Dec. 26, 2024 USD ($)
Deferred rent payments under operating lease	$ 562
Long-term Operating Lease Obligations
Deferred rent payments under operating lease	$ 113
Minimum
Lease terms (in years)	1 year
Maximum
Lease terms (in years)	45 years

Leases - Schedule of Lease, Cos

Leases - Schedule of Lease, Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Finance lease costs:
Amortization of finance lease assets	$ 2,274	$ 2,760	$ 2,789
Interest on lease liabilities	664	759	850
Total finance lease costs	2,938	3,519	3,639
Operating lease costs:
Operating lease costs	23,953	24,126	25,381
Variable lease cost	1,724	1,892	514
Short-term lease cost	234	136	142
Total operating lease costs	$ 25,911	$ 26,154	$ 26,037

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	$ 2,470	$ 2,527	$ 2,670
Operating cash flows from finance leases	664	759
Operating cash flows from operating leases	25,183	25,391
Right of use assets obtained in exchange for new lease obligations:
Finance lease liabilities	232	357
Operating lease liabilities, including from acquisitions	$ 3,394	$ 276

Leases - Schedule of Finance Le

Leases - Schedule of Finance Leases (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Leases [Abstract]
Property and equipment – gross	$ 29,061	$ 30,106
Accumulated depreciation and amortization	(19,078)	(17,956)
Property and equipment - net	$ 9,983	$ 12,150

Leases - Schedule of Lease Term

Leases - Schedule of Lease Term and Discount Rate (Details)	Dec. 26, 2024	Dec. 28, 2023
Weighted-average remaining lease terms:
Finance leases	6 years	7 years
Operating leases	11 years	12 years
Weighted-average discount rates:
Finance leases	4.69%	4.62%
Operating leases	4.79%	4.52%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 26, 2024 USD ($)
Operating Leases
2025	$ 23,963
2026	24,951
2027	23,341
2028	22,478
2029	21,066
Thereafter	118,461
Total lease payments	234,260
Less: amount representing interest	(53,719)
Total lease liabilities	180,541
Finance Leases
2025	3,144
2026	3,027
2027	2,054
2028	1,923
2029	1,578
Thereafter	3,157
Total lease payments	14,883
Less: amount representing interest	(1,932)
Total lease liabilities	$ 12,951

Shareholders' Equity and Shar_3

Shareholders' Equity and Share-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 26, 2024 USD ($) vote $ / shares shares	Dec. 28, 2023 USD ($) shares	Dec. 29, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vote per share | vote	1
Number of shares authorized to be repurchased (in shares) | shares	11,687,500
Stock repurchased during period (in shares) | shares	713,456	94,508	134,694
Remaining number of shares authorized to be repurchased (in shares) | shares	1,714,682
Shares approved for issuance (in shares) | shares	7,437,500
Shares available for grant (in shares) | shares	159,370
Share-based compensation expense	$ 8,206	$ 6,394	$ 8,170
Recognized tax benefit on share-based compensation	$ 1,879	1,000	1,338
Weighted-average remaining contractual life of options outstanding	5 years 4 months 24 days
Weighted-average remaining contractual life of options currently exercisable	4 years 7 months 6 days
Options outstanding, vested and expected to vest (in shares) | shares	2,868,580
Options outstanding, vested and expected to vest, weighted-average exercise price (in dollars per share) | $ / shares	$ 23.26
Options outstanding, vested and expected to vest, intrinsic value	$ 6,723
Intrinsic value of options outstanding, intrinsic value	6,804
Intrinsic value of options exercisable, intrinsic value	3,155
Intrinsic value of options exercised	725	$ 171	$ 164
Remaining unearned compensation cost related to stock options	$ 1,582
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average life	1 year 9 months 18 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price for options outstanding (in dollars per share) | $ / shares	$ 12.71
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price for options outstanding (in dollars per share) | $ / shares	$ 41.90
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average life	2 years 10 months 24 days
Remaining unearned compensation related to non-vested stock	$ 4,565
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average life	2 years 2 months 12 days
Remaining unearned compensation related to non-vested stock	$ 500
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining weighted-average life	2 years
Remaining unearned compensation related to non-vested stock	$ 1,375
Performance period	3 years
Performance Shares | Earnings Before Interest, Taxes, Depreciation and Amortization Growth Rate
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of performance stock unit awards percentage	25%
Performance Shares | Average Return on Invested Capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of performance stock unit awards percentage	75%
Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of stock awarded based on performance	0%
Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of stock awarded based on performance	150%
After Two Years | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	40%
After Two Years | Option Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	50%
Award non-vesting rights percentage	50%
After Two Years | Option Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award non-vesting rights percentage	50%
After Two Years | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased payment award restricted stock units rights percentage	50%
Award vesting period	2 years
After Three Years | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	60%
Award non-vesting rights percentage	25%
Award vesting period	3 years
After Three Years | Option Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	75%
Award non-vesting rights percentage	100%
After Three Years | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sharebased payment award restricted stock units rights percentage	100%
Award vesting period	3 years
After Four Years | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	80%
After Four Years | Option Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	100%
Award non-vesting rights percentage	100%
After Four Years | Option Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award non-vesting rights percentage	100%
After Five Years | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award options grants in period exercisable percentage	100%
Award non-vesting rights percentage	50%
Award vesting period	5 years
After Ten Years | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award non-vesting rights percentage	75%
Upon Retirement | Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award non-vesting rights percentage	100%
Dividend Reinvestment Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares	250,000
Remaining number of shares authorized to be repurchased (in shares) | shares	245,330
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of cash dividends	110%
Vote per share | vote	10

Shareholders' Equity and Shar_4

Shareholders' Equity and Share-Based Compensation - Schedule of Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Options
Outstanding at beginning of period (in shares)	3,173	2,866	2,533
Granted (in shares)	0	525	501
Exercised (in shares)	(129)	(83)	(68)
Forfeited (in shares)	(160)	(135)	(100)
Outstanding at end of period (in shares)	2,884	3,173	2,866
Exercisable at end of period (in shares)	2,125	1,989	1,613
Weighted- Average Exercise Price
Outstanding at beginning of period (in dollars per shares)	$ 22.69	$ 23.76	$ 24.84
Granted (in dollars per share)	0	15.96	16.99
Exercised (in dollars per share)	15.34	13.05	13.15
Forfeited (in dollars per share)	18.94	25.11	24.89
Outstanding at end of period (in dollars per shares)	23.22	22.69	23.76
Exercisable at end of period (in dollars per share)	$ 25.48	25.53	25.70
Weighted-average fair value of options granted during the period (in dollars per share)		$ 7.86	$ 7.71

Shareholders' Equity and Shar_5

Shareholders' Equity and Share-Based Compensation - Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022	Dec. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	2,884	3,173	2,866	2,533
Weighted-average exercise price of options outstanding (in dollars per shares)	$ 23.22	$ 22.69	$ 23.76	$ 24.84
Weighted-average remaining contractual life of options outstanding	5 years 4 months 24 days
Options exercisable (in shares)	2,125	1,989	1,613
Weighted-average exercise price of options exercisable (in dollars per share)	$ 25.48	$ 25.53	$ 25.70
Exercise Price Range 12.71 to 17.05
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower range limit (in dollars per share)	12.71
Exercise price range, upper range limit (in dollars per share)	$ 17.05
Options outstanding (in shares)	1,095
Weighted-average exercise price of options outstanding (in dollars per shares)	$ 15.97
Weighted-average remaining contractual life of options outstanding	7 years 4 months 24 days
Options exercisable (in shares)	422
Weighted-average exercise price of options exercisable (in dollars per share)	$ 15.46
Exercise Price Range 17.06 to 21.84
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower range limit (in dollars per share)	17.06
Exercise price range, upper range limit (in dollars per share)	$ 27
Options outstanding (in shares)	943
Weighted-average exercise price of options outstanding (in dollars per shares)	$ 22.61
Weighted-average remaining contractual life of options outstanding	4 years
Options exercisable (in shares)	857
Weighted-average exercise price of options exercisable (in dollars per share)	$ 22.70
Exercise Price Range 21.85 to 41.90
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price range, lower range limit (in dollars per share)	27.01
Exercise price range, upper range limit (in dollars per share)	$ 41.90
Options outstanding (in shares)	846
Weighted-average exercise price of options outstanding (in dollars per shares)	$ 33.30
Weighted-average remaining contractual life of options outstanding	4 years 2 months 12 days
Options exercisable (in shares)	846
Weighted-average exercise price of options exercisable (in dollars per share)	$ 33.30

Shareholders' Equity and Shar_6

Shareholders' Equity and Share-Based Compensation - Schedule of Stock Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Restricted Stock
Shares
Shares, outstanding at beginning of year (in shares)	238	212	357
Granted (in shares)	476	107	100
Vested (in shares)	(47)	(81)	(242)
Forfeited (in shares)	0	0	(3)
Shares, outstanding at end of year (in shares)	667	238	212
Weighted- Average Fair Value
Outstanding at beginning of year (in dollars per share)	$ 17.41	$ 21.07	$ 23.32
Granted (in dollars per share)	15.18	15.68	17.63
Vested (in dollars per share)	21.37	23.77	22.95
Forfeited (in dollars per share)	0	0	22.93
Outstanding at end of year (in dollars per share)	$ 15.54	$ 17.41	$ 21.07
Restricted stock units
Shares
Shares, outstanding at beginning of year (in shares)	0
Granted (in shares)	52
Vested (in shares)	(5)
Forfeited (in shares)	0
Shares, outstanding at end of year (in shares)	47	0
Weighted- Average Fair Value
Outstanding at beginning of year (in dollars per share)	$ 0
Granted (in dollars per share)	14.79
Vested (in dollars per share)	14.84
Forfeited (in dollars per share)	0
Outstanding at end of year (in dollars per share)	$ 14.79	$ 0
Performance Shares
Shares
Shares, outstanding at beginning of year (in shares)	0
Granted (in shares)	143
Vested (in shares)	0
Forfeited (in shares)	(4)
Shares, outstanding at end of year (in shares)	139	0
Weighted- Average Fair Value
Outstanding at beginning of year (in dollars per share)	$ 0
Granted (in dollars per share)	14.84
Vested (in dollars per share)	0
Forfeited (in dollars per share)	14.84
Outstanding at end of year (in dollars per share)	$ 14.84	$ 0

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Retirement savings plan expense	$ 2,326	$ 2,179	$ 2,233
Defined benefit plan, net periodic benefit cost (credit) excluding service cost, statement of income or comprehensive income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
Net unrecognized actuarial loss for pension obligation	$ 181	$ 1,336
Net actuarial loss	279	1,481
Accumulated benefit obligation	$ 34,480	$ 34,788
Common Stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Maximum annual contributions per employee, percent	2%	2%	2%
Accumulated Defined Benefit Plans Adjustment Attributable to Parent
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service credit	$ 98	$ 145
For 100% of The First 3%
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percent of match from employer	100%
Percent of match of employees' gross pay	3%
For 50% of The Next 2%
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percent of match from employer	50%
Percent of match of employees' gross pay	2%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Unfunded Nonqualified, Defined-Benefit and Account-Based Retirement Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Change in benefit obligation:
Benefit obligation at beginning of period	$ 36,349	$ 36,324
Service cost	248	487	$ 1,055
Interest cost	1,778	1,811	1,341
Actuarial gain	(1,627)	(656)
Benefits paid	(1,765)	(1,617)
Benefit obligation at end of year	34,983	36,349	$ 36,324
Amounts recognized in the statement of financial position consist of:
Current accrued benefit liability (included in Other accrued liabilities)	(2,315)	(2,060)
Noncurrent accrued benefit liability (included in Other long-term obligations)	(32,668)	(34,289)
Total	(34,983)	(36,349)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	377	2,004
Prior service credit	(132)	(196)
Total	$ 245	$ 1,808

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Net periodic pension cost:
Service cost	$ 248	$ 487	$ 1,055
Interest cost	1,778	1,811	1,341
Net amortization of prior service cost and actuarial loss	(64)	(64)	1,028
Total	$ 1,962	$ 2,234	$ 3,424

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of Pre-Tax Change in the Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Net actuarial gain	$ (1,627)	$ (656)
Amortization of the prior year service credit	64	64
Total	$ (1,563)	$ (592)

Employee Benefit Plans - Sche_4

Employee Benefit Plans - Schedule of Weighted-Average Assumptions Used to Determine the Benefit Obligations (Details)	Dec. 26, 2024	Dec. 28, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Discount rate	5.45%	5%
Rate of compensation increase	4%	4%

Employee Benefit Plans - Sche_5

Employee Benefit Plans - Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Discount rate	5%	5.05%	2.85%
Rate of compensation increase	4%	4%	4%

Employee Benefit Plans - Sche_6

Employee Benefit Plans - Schedule of Benefit Payments Expected to be Paid (Details) $ in Thousands	Dec. 26, 2024 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
2025	$ 2,377
2026	2,384
2027	2,371
2028	2,621
2029	3,273
Years 2030 – 2034	$ 15,560

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Deferred Tax Liability (Details) - USD ($) $ in Thousands	Dec. 26, 2024	Dec. 28, 2023
Deferred tax assets
Accrued employee benefits	$ 13,171	$ 13,653
Operating lease liabilities	47,121	50,601
Gift card liabilities	6,030	6,490
Net operating loss, disallowed interest & tax credit carryforwards	18,784	21,069
Other	130	2,378
Total	85,236	94,191
Less valuation allowance	(3,583)	(11,338)
Deferred tax assets	81,653	82,853
Deferred tax liabilities
Depreciation and amortization	(68,767)	(68,164)
Operating lease assets	(41,549)	(46,924)
Deferred tax liabilities	(110,316)	(115,088)
Net deferred tax liability	(28,663)	(32,235)
Deferred income taxes - other assets	3,956	0
Deferred income taxes - liabilities	$ (32,619)	$ (32,235)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Income Taxes [Line Items]
Less valuation allowance	$ (3,583,000)	$ (11,338,000)
Valuation allowance	$ (7,755,000)		$ 9,956,000
Effective income tax rate	23.70%	31.70%	(147.60%)
Decrease in federal benefit on valuation allowance	$ (1,629,000)		$ 2,598,000
Effective income tax			4.60%
Income taxes paid	1,428,000	$ 1,776,000
Proceeds from tax refunds			$ 21,935,000
Unrecognized tax benefits	0	0	0
Penalties and interest accrued	0	0
Income tax examination interest income (expense)	$ 0	(1,000)	683,000
Minimum
Income Taxes [Line Items]
Net operating loss carryforwards, period	12 years
Maximum
Income Taxes [Line Items]
Net operating loss carryforwards, period	20 years
Federal
Income Taxes [Line Items]
Tax credit carryforwards	$ 3,010,000	4,150,000
Operating loss carrybacks			$ 22,300,000
State
Income Taxes [Line Items]
Operating loss carryforwards	$ 200,279,000	$ 209,866,000

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Current:
Federal	$ 846	$ 603	$ (452)
State	713	692	556
Deferred:
Federal	2,833	3,900	(3,222)
State	(6,814)	1,661	10,255
Income tax expense (benefit)	$ (2,422)	$ 6,856	$ 7,137

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of the Federal Statutory Tax Rate (Details)	12 Months Ended
	Dec. 26, 2024 Rate	Dec. 28, 2023 Rate	Dec. 29, 2022 Rate
Effective Income Tax Rate Reconciliation, Percent
Statutory federal tax rate	21%	21%	21%
State income taxes, net of federal income tax benefit	(7.40%)	11.40%	4.30%
Tax credits, net of federal income tax benefit	12.70%	(5.60%)	22.90%
Valuation allowance	76%	(4.80%)	(205.90%)
Federal income tax benefit on state valuation allowance	(16.00%)	1%	53.70%
Excess tax benefits on share-based compensation	(3.30%)	2.80%	(22.10%)
Other compensation and benefits	(17.50%)	5.40%	(15.60%)
Meals and entertainment	(2.60%)	1.10%	(4.10%)
Debt conversion	(38.10%)	0%	0%
Other	(1.10%)	(0.60%)	(1.80%)
Effective income tax rate	23.70%	31.70%	(147.60%)

Commitments and License Rights

Commitments and License Rights (Details) $ in Thousands	Dec. 26, 2024 USD ($) hotel
Commitments and Contingencies Disclosure [Abstract]
Commitments To Complete Contracts In Process Value | $	$ 31,569
Hilton Trademark
Loss Contingencies [Line Items]
Number of hotels with license rights (in hotels)	2
Marriott Trademark
Loss Contingencies [Line Items]
Number of hotels with license rights (in hotels)	2

Joint Venture Transactions (Det

Joint Venture Transactions (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) hotel	Dec. 26, 2024 USD ($) jointVenture	Dec. 28, 2023 USD ($) jointVenture	Dec. 30, 2021 room
Related Party Transaction [Line Items]
Number of investments | jointVenture			2	1
Lofton Hotel
Related Party Transaction [Line Items]
Number of guest and suite room | hotel		251
Payments to acquire equity method investments		$ 5,620
Ownership percentage		33.30%	24.70%
Proceeds from sale of equity method investments	$ 1,500
Lofton Hotel | The Marcus Corporation
Related Party Transaction [Line Items]
Equity method investment, ownership percentage sold	8.60%
Corporate Joint Venture
Related Party Transaction [Line Items]
Equity method investments			$ 5,166	$ 1,718
Number of rooms (in rooms) | room					248
Corporate Joint Venture | Kimpton Hotel Monaco Pittsburgh
Related Party Transaction [Line Items]
Ownership percentage					10%
Hempel and Robinson Park
Related Party Transaction [Line Items]
Guaranties and environmental indemnity amount			$ 6,200

Business Segment Information -

Business Segment Information - Additional Information (Details)	12 Months Ended
	Dec. 26, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segment Information _2

Business Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2024	Dec. 28, 2023	Dec. 29, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 735,560	$ 729,575	$ 677,394
Advertising and marketing	24,559	22,838	23,877
Administrative	88,958	78,565	74,755
Depreciation and amortization	67,958	67,301	67,073
Rent	25,911	26,154	26,037
Property taxes	14,716	17,871	17,955
Impairment charges	6,823	1,061	1,525
Reimbursed costs	40,474	37,420	33,634
Total costs and expenses	719,390	695,649	669,088
OPERATING INCOME	16,170	33,926	8,306
Investment income (loss)	2,231	2,426	(45)
Interest expense	(10,972)	(12,721)	(15,299)
Other income (expense), net	(1,513)	(1,832)	(1,060)
Gain on sale of hotel	0	0	6,274
Debt conversion expense	(15,521)	0	0
Equity losses from unconsolidated joint ventures, net (Note 12)	(604)	(149)	(143)
EARNINGS (LOSS) BEFORE INCOME TAXES	(10,209)	21,650	(1,967)
Share-based compensation	8,206	6,394	8,170
Assets	1,044,528	1,065,103	1,064,598
Capital expenditures	79,210	38,774	36,843
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	735,229	729,229	677,027
Advertising and marketing	24,388	22,639	23,664
Administrative	65,844	59,032	57,024
Depreciation and amortization	67,269	66,947	66,720
Rent	25,450	25,753	25,633
Property taxes	14,636	17,836	17,806
Impairment charges	6,823	1,061	1,525
Reimbursed costs	40,474	37,420	33,634
Other segment items	41,999	39,237	37,847
Total costs and expenses	694,605	675,540	650,220
OPERATING INCOME	40,624	53,689	26,807
Corporate Items
Segment Reporting Information [Line Items]
Total revenues	331	346	367
Other segment items	(24,454)	(19,763)	(18,501)
Share-based compensation	6,221	4,515	4,368
Assets	90,184	88,407	35,667
Capital expenditures	9,319	753	241
Theatre operations
Segment Reporting Information [Line Items]
Cost of goods and services sold	225,472	230,770	212,410
Theatre operations | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	225,472	230,770	212,410
Rooms
Segment Reporting Information [Line Items]
Cost of goods and services sold	43,425	41,071	41,561
Rooms | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	43,425	41,071	41,561
Theatre concessions
Segment Reporting Information [Line Items]
Cost of goods and services sold	78,406	75,903	73,124
Theatre concessions | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	78,406	75,903	73,124
Food and beverage
Segment Reporting Information [Line Items]
Cost of goods and services sold	60,419	57,871	59,272
Food and beverage | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	60,419	57,871	59,272
Theatres | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	447,723	458,394	407,741
Advertising and marketing	5,485	4,277	5,159
Administrative	23,304	23,609	22,355
Depreciation and amortization	45,352	48,378	47,560
Rent	23,551	23,952	23,335
Property taxes	9,607	12,253	11,754
Impairment charges	6,823	1,061	2,411
Reimbursed costs	1,314	0	1,525
Other segment items	6,262	2,015	0
Total costs and expenses	425,576	422,218	399,633
OPERATING INCOME	22,147	36,176	8,108
Share-based compensation	932	900	2,757
Assets	643,488	696,128	750,941
Capital expenditures	20,961	15,131	12,087
Theatres | Theatre operations | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	225,472	230,770	212,410
Theatres | Rooms | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	0	0	0
Theatres | Theatre concessions | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	78,406	75,903	73,124
Theatres | Food and beverage | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	0	0	0
Hotels/Resorts | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	287,506	270,835	269,286
Advertising and marketing	18,903	18,362	18,505
Administrative	42,540	35,423	34,669
Depreciation and amortization	21,917	18,569	19,160
Rent	1,899	1,801	2,298
Property taxes	5,029	5,583	6,052
Impairment charges	0	0	35,436
Reimbursed costs	39,160	37,420	0
Other segment items	35,737	37,222	33,634
Total costs and expenses	269,029	253,322	250,587
OPERATING INCOME	18,477	17,513	18,699
Share-based compensation	1,053	979	1,045
Assets	310,856	280,568	277,990
Capital expenditures	48,930	22,890	24,515
Hotels/Resorts | Theatre operations | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	0	0	0
Hotels/Resorts | Rooms | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	43,425	41,071	41,561
Hotels/Resorts | Theatre concessions | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	0	0	0
Hotels/Resorts | Food and beverage | Operating Segments
Segment Reporting Information [Line Items]
Cost of goods and services sold	$ 60,419	$ 57,871	$ 59,272