BJs RESTAURANTS INC Leases Disclosure
6. Leases
Lease costs included on the Consolidated Statements of Operations consisted of the following (in thousands):
|
|
Fiscal Year |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Lease cost |
|
$ |
59,104 |
|
|
$ |
57,836 |
|
|
$ |
59,268 |
|
Variable lease cost |
|
|
3,770 |
|
|
|
3,567 |
|
|
|
3,864 |
|
Total lease costs |
|
$ |
62,874 |
|
|
$ |
61,403 |
|
|
$ |
63,132 |
|
Weighted-average lease term and discount rate were as follows:
|
|
December 30, 2025 |
|
December 31, 2024 |
Weighted-average remaining lease term |
|
9.6 Years |
|
10.3 Years |
Weighted-average discount rate |
|
5.9 |
|
5.9 |
Operating lease obligation maturities as of December 30, 2025, were as follows (in thousands):
2026 |
|
$ |
66,527 |
|
2027 |
|
|
65,120 |
|
2028 |
|
|
62,322 |
|
2029 |
|
|
56,731 |
|
2030 |
|
|
49,240 |
|
Thereafter |
|
|
246,888 |
|
Total lease payments |
|
|
546,828 |
|
Less: imputed interest |
|
|
(141,070 |
) |
Present value of operating lease obligations |
|
$ |
405,758 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.