Document and Entity Information - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Feb. 03, 2025 |
Jun. 28, 2024 |
|
| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 28, 2024 | ||
| Document Fiscal Year Focus | 2024 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | WW | ||
| Entity Registrant Name | WW INTERNATIONAL, INC. | ||
| Entity Central Index Key | 0000105319 | ||
| Current Fiscal Year End Date | --12-28 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Small Business | true | ||
| Entity Emerging Growth Company | false | ||
| Entity Shell Company | false | ||
| ICFR Auditor Attestation Flag | true | ||
| Entity Common Stock, Shares Outstanding | 80,127,091 | ||
| Entity Public Float | $ 92,644,603 | ||
| Entity File Number | 001-16769 | ||
| Entity Incorporation, State or Country Code | VA | ||
| Entity Tax Identification Number | 11-6040273 | ||
| Entity Address, Address Line One | 675 Avenue of the Americas | ||
| Entity Address, Address Line Two | 6th Floor | ||
| Entity Address, City or Town | New York | ||
| Entity Address, State or Province | NY | ||
| Entity Address, Postal Zip Code | 10010 | ||
| City Area Code | 212 | ||
| Local Phone Number | 589-2700 | ||
| Title of 12(b) Security | Common Stock, no par value | ||
| Security Exchange Name | NASDAQ | ||
| Entity Interactive Data Current | Yes | ||
| Document Annual Report | true | ||
| Document Transition Report | false | ||
| Document Financial Statement Error Correction [Flag] | false | ||
| Auditor Name | PricewaterhouseCoopers LLP | ||
| Auditor Location | New York, New York | ||
| Auditor Firm ID | 238 | ||
| Auditor Opinion | Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated balance sheets of WW International, Inc. and its subsidiaries (the “Company”) as of December 28, 2024 and December 30, 2023, and the related consolidated statements of operations, of comprehensive loss, of changes in total deficit and of cash flows for each of the three years in the period ended December 28, 2024, including the related notes and financial statement schedule listed in the accompanying index (collectively referred to as the “consolidated financial statements”). We also have audited the Company's internal control over financial reporting as of December 28, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 28, 2024 and December 30, 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 28, 2024 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 28, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO. |
||
| Documents Incorporated by Reference | Portions of the registrant’s definitive Proxy Statement for its 2025 annual meeting of shareholders are incorporated herein by reference in Part III, Items 10-14. Such Proxy Statement will be filed with the SEC no later than 120 days after the registrant’s fiscal year ended December 28, 2024. |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Receivables, allowances | $ 3,166 | $ 1,041 |
| Common stock, par value | $ 0 | $ 0 |
| Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
| Common stock, shares issued | 130,048,000 | 130,048,000 |
| Treasury stock, shares | 49,997,000 | 50,859,000 |
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Revenues, net | $ 785,921 | $ 889,551 | $ 1,039,835 |
| Cost of revenues | 252,818 | 360,248 | 418,456 |
| Gross profit | 533,103 | 529,303 | 621,379 |
| Marketing expenses | 236,467 | 238,387 | 244,783 |
| Selling, general and administrative expenses | 217,825 | 264,950 | 263,840 |
| Franchise rights acquired and goodwill impairments | 315,033 | 3,633 | 396,727 |
| Operating (loss) income | (236,222) | 22,333 | (283,971) |
| Interest expense | 108,954 | 95,893 | 81,141 |
| Other (income) expense, net | (1) | 72 | 1,691 |
| Loss before income taxes | (345,175) | (73,632) | (366,803) |
| Provision for (benefit from) income taxes | 526 | 38,623 | (109,935) |
| Net loss | $ (345,701) | $ (112,255) | $ (256,868) |
| Net loss per share | |||
| Basic | $ (4.34) | $ (1.46) | $ (3.65) |
| Diluted | $ (4.34) | $ (1.46) | $ (3.65) |
| Weighted average common shares outstanding | |||
| Basic | 79,578 | 76,677 | 70,321 |
| Diluted | 79,578 | 76,677 | 70,321 |
| Subscription | |||
| Revenues, net | $ 776,993 | $ 822,755 | $ 919,055 |
| Cost of revenues | 250,954 | 301,062 | 321,528 |
| Other | |||
| Revenues, net | 8,928 | 66,796 | 120,780 |
| Cost of revenues | $ 1,864 | $ 59,186 | $ 96,928 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net loss | $ (345,701) | $ (112,255) | $ (256,868) |
| Other comprehensive (loss) gain: | |||
| Foreign currency translation (loss) gain | (9,096) | 2,880 | (11,222) |
| Income tax (expense) benefit on foreign currency translation (loss) gain | (2,720) | (703) | 2,790 |
| Foreign currency translation (loss) gain, net of taxes | (11,816) | 2,177 | (8,432) |
| (Loss) gain on derivatives | (3,473) | (10,673) | 28,768 |
| Income tax benefit (expense) on (loss) gain on derivatives | 757 | 2,666 | (7,202) |
| (Loss) gain on derivatives, net of taxes | (2,716) | (8,007) | 21,566 |
| Total other comprehensive (loss) gain | (14,532) | (5,830) | 13,134 |
| Comprehensive loss | $ (360,233) | $ (118,085) | $ (243,734) |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ (345,701) | $ (112,255) | $ (256,868) |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Trading Arrangements, by Individual | |
| Material Terms of Trading Arrangement | From time to time, our directors and officers may engage in open-market transactions with respect to their Company equity holdings for diversification or other personal reasons. All such transactions by directors and officers must comply with the Company’s Amended and Restated Securities Trading Policy, which requires that such transactions be in accordance with applicable U.S. federal securities laws that prohibit trading while in possession of material nonpublic information. Rule 10b5-1 under the Exchange Act provides an affirmative defense that enables directors and officers to prearrange transactions in the Company’s securities in a manner that avoids concerns about initiating transactions while in possession of material nonpublic information. No contracts, instructions or written plans for the purchase or sale of Company securities were adopted or terminated by our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) during the quarter ended December 28, 2024, that were intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). No “non-Rule 10b5–1 trading arrangements” (as defined by Item 408(c) of Regulation S-K) or other Rule 10b5-1 trading arrangements were entered into or terminated, nor were any such arrangements modified, by our directors or officers during such period. |
| 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 |
| Non-Rule10b5-1 Arrangement Modified | false |
Cybersecurity Risk Management, Strategy and Governance |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Item 1C. Cybersecurity In the ordinary course of business, we provide proprietary content and we collect, store and use confidential information (including, but not limited to, personal customer information and data) in connection with providing our products and engaging our employees and contractors. We have developed systems and processes designed to protect such content and information and we maintain cybersecurity insurance coverage. Our Board of Directors (the “Board”) and management recognize the critical importance of protecting the confidentiality and integrity of such information and data and maintaining the trust and confidence of our members, business partners, employees, contractors and shareholders, as well as complying with applicable regulatory requirements and contractual obligations. The Board and its committees actively oversee the Company’s risk management program. Cybersecurity threats and related risks are an important component of the Company’s overall approach to enterprise risk management (“ERM”). We annually examine our cybersecurity program with third parties, evaluating its effectiveness in part by considering industry standards and established frameworks, such as the National Institute of Standards and Technology (NIST), as guidelines. Cybersecurity risk management is a Company-wide initiative. In general, the Company seeks to address cybersecurity risks through a comprehensive, multi-disciplinary approach that is focused on preserving the confidentiality, security, and availability of the information that the Company collects and stores by identifying, preventing, and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. Risk Management and Strategy As one of the elements of the Company’s overall ERM program, the Company’s cybersecurity program includes the following key areas: • Governance: As discussed in more detail under the heading “Governance,” the Board’s oversight of cybersecurity risk management is supported by the Audit Committee of the Board (the “Audit Committee”), which is regularly updated on cybersecurity matters by the Company’s Chief Information Security Officer (“CISO”), other members of management, and relevant representatives from management’s committees and the Company’s Internal Audit function. • Collaborative Approach: The Company has implemented a comprehensive, multi-disciplinary approach to identifying, preventing and mitigating cybersecurity threats and incidents, while also implementing controls and procedures that provide for the prompt escalation of certain cybersecurity incidents so that decisions regarding the public disclosure and reporting of such incidents can be made by management in a timely manner. • Technical Safeguards: The Company deploys technical safeguards that are designed to protect the Company’s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through vulnerability assessments by internal and third-party experts, and cybersecurity threat intelligence. • Incident Response and Recovery Planning: The Company has established and maintains comprehensive incident response and recovery plans pursuant to the NIST framework that fully address the Company’s response to a cybersecurity incident, and such plans are evaluated on a regular basis. • Third-Party Risk Management: The Company has implemented a risk-based evaluation process to identify and oversee cybersecurity risks presented by third parties, including vendors, service providers and other external users of the Company’s systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. • Education and Awareness: The Company provides regular, mandatory training and education for personnel regarding cybersecurity threats as a means to equip the Company’s personnel with effective tools to address cybersecurity threats, and to communicate the Company’s evolving information security policies, standards, processes and practices. The Company engages in the regular evaluations of the Company’s policies, standards, processes, and practices that are designed to address cybersecurity threats and incidents. These efforts include a wide range of activities, including tabletop exercises and vulnerability testing, focused on evaluating the effectiveness of our cybersecurity measures and planning. The Company regularly engages third parties to perform assessments on certain of our cybersecurity measures, including audits and penetration testing. For example, we annually engage qualified third-party auditors to independently assess and attest to and/or provide certifications of compliance with the HIPAA Security and Privacy Rule, SOC2 Type 2, the Payment Card Industry Data Security Standard (PCI-DSS), UK CyberEssentials, and HITRUST. The results of such assessments, audits and reviews are presented to the Audit Committee and members of the Board, as appropriate, and the Company adjusts its cybersecurity policies, standards, processes, and practices as necessary based on such assessments, audits and reviews. Governance The Board, in coordination with the Audit Committee, oversees the Company’s ERM process. The Audit Committee oversees our cybersecurity program, as well as the steps management has taken to monitor and control cybersecurity threats and related risks. This oversight includes receiving reports on the regular assessments of the Company’s disclosure controls and procedures to ensure that current practices account for material cybersecurity risks facing the Company. The Audit Committee receives presentations on the cybersecurity program and related risks on at least a quarterly basis. These presentations address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends, and information security considerations arising with respect to the Company’s peers and third parties. The Audit Committee, and the full Board as necessary, also receive prompt and timely information regarding any cybersecurity incident that meets recognized established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. The Audit Committee routinely meets with our Chief Legal and Regulatory Officer (“CLRO”) and CISO as well as outside experts as appropriate to assess cybersecurity risks and to evaluate the status of the Company’s cybersecurity efforts, which include a broad range of tools and training initiatives that work together to protect the data and systems used in our businesses. Our cybersecurity management team includes our CISO, Data Privacy Officer, CLRO, Chief Financial Officer, and Head of Internal Audit. The CISO, in coordination with the team, works collaboratively across the Company to implement a program designed to protect the Company’s information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. The cybersecurity management team meets regularly to review cybersecurity and data privacy strategy, receive updates, and consider the Company’s current risk posture. The team meetings also build leadership consensus on cybersecurity risk management and tolerance. In the event they become aware of a cybersecurity threat or incident, employees are expected to follow established lines of communication to notify the relevant members of the cybersecurity management team and allow the relevant team members to coordinate the evaluation and response to such threats and incidents as necessary. To facilitate the Company’s cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CISO and the rest of the cybersecurity management team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to other members of senior management and the Audit Committee when appropriate. Such plans also dictate notification responses to Company management based on the severity of the incident. The CISO has worked in the information security field for over 15 years and holds an undergraduate degree in computer systems management and master’s degrees in both cybersecurity and technology management. He has also attained multiple cybersecurity-related professional certifications and licenses, including Certified Information Systems Security Professional, and is an adjunct professor of cybersecurity at New York University and Fordham University. While we have experienced cybersecurity incidents in the past, we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, financial condition, cash flows or reputation. However, cybersecurity threats and/or incidents could have a material effect on the Company. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be fully insured. For additional information regarding the cybersecurity risks we face, see “Item 1A. Risk Factors— Risks Related to Technology, Security and Intellectual Property” of this Annual Report on Form 10-K. |
| 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 Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] | While we have experienced cybersecurity incidents in the past, we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, financial condition, cash flows or reputation. However, cybersecurity threats and/or incidents could have a material effect on the Company. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be fully insured. For additional information regarding the cybersecurity risks we face, see “Item 1A. Risk Factors— Risks Related to Technology, Security and Intellectual Property” of this Annual Report on Form 10-K. |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | The Board, in coordination with the Audit Committee, oversees the Company’s ERM process. The Audit Committee oversees our cybersecurity program, as well as the steps management has taken to monitor and control cybersecurity threats and related risks. This oversight includes receiving reports on the regular assessments of the Company’s disclosure controls and procedures to ensure that current practices account for material cybersecurity risks facing the Company. The Audit Committee receives presentations on the cybersecurity program and related risks on at least a quarterly basis. These presentations address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends, and information security considerations arising with respect to the Company’s peers and third parties. The Audit Committee, and the full Board as necessary, also receive prompt and timely information regarding any cybersecurity incident that meets recognized established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. The Audit Committee routinely meets with our Chief Legal and Regulatory Officer (“CLRO”) and CISO as well as outside experts as appropriate to assess cybersecurity risks and to evaluate the status of the Company’s cybersecurity efforts, which include a broad range of tools and training initiatives that work together to protect the data and systems used in our businesses. Our cybersecurity management team includes our CISO, Data Privacy Officer, CLRO, Chief Financial Officer, and Head of Internal Audit. The CISO, in coordination with the team, works collaboratively across the Company to implement a program designed to protect the Company’s information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. The cybersecurity management team meets regularly to review cybersecurity and data privacy strategy, receive updates, and consider the Company’s current risk posture. The team meetings also build leadership consensus on cybersecurity risk management and tolerance. In the event they become aware of a cybersecurity threat or incident, employees are expected to follow established lines of communication to notify the relevant members of the cybersecurity management team and allow the relevant team members to coordinate the evaluation and response to such threats and incidents as necessary. To facilitate the Company’s cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CISO and the rest of the cybersecurity management team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to other members of senior management and the Audit Committee when appropriate. Such plans also dictate notification responses to Company management based on the severity of the incident. The CISO has worked in the information security field for over 15 years and holds an undergraduate degree in computer systems management and master’s degrees in both cybersecurity and technology management. He has also attained multiple cybersecurity-related professional certifications and licenses, including Certified Information Systems Security Professional, and is an adjunct professor of cybersecurity at New York University and Fordham University. While we have experienced cybersecurity incidents in the past, we are not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, financial condition, cash flows or reputation. However, cybersecurity threats and/or incidents could have a material effect on the Company. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or disruptions may not be fully insured. For additional information regarding the cybersecurity risks we face, see “Item 1A. Risk Factors— Risks Related to Technology, Security and Intellectual Property” of this Annual Report on Form 10-K. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Board, in coordination with the Audit Committee, oversees the Company’s ERM process. The Audit Committee oversees our cybersecurity program, as well as the steps management has taken to monitor and control cybersecurity threats and related risks. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | This oversight includes receiving reports on the regular assessments of the Company’s disclosure controls and procedures to ensure that current practices account for material cybersecurity risks facing the Company. |
| Cybersecurity Risk Role of Management [Text Block] | Our cybersecurity management team includes our CISO, Data Privacy Officer, CLRO, Chief Financial Officer, and Head of Internal Audit. The CISO, in coordination with the team, works collaboratively across the Company to implement a program designed to protect the Company’s information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. The cybersecurity management team meets regularly to review cybersecurity and data privacy strategy, receive updates, and consider the Company’s current risk posture. The team meetings also build leadership consensus on cybersecurity risk management and tolerance. In the event they become aware of a cybersecurity threat or incident, employees are expected to follow established lines of communication to notify the relevant members of the cybersecurity management team and allow the relevant team members to coordinate the evaluation and response to such threats and incidents as necessary. To facilitate the Company’s cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CISO and the rest of the cybersecurity management team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to other members of senior management and the Audit Committee when appropriate. Such plans also dictate notification responses to Company management based on the severity of the incident. The CISO has worked in the information security field for over 15 years and holds an undergraduate degree in computer systems management and master’s degrees in both cybersecurity and technology management. He has also attained multiple cybersecurity-related professional certifications and licenses, including Certified Information Systems Security Professional, and is an adjunct professor of cybersecurity at New York University and Fordham University. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | Our cybersecurity management team includes our CISO, Data Privacy Officer, CLRO, Chief Financial Officer, and Head of Internal Audit. The CISO, in coordination with the team, works collaboratively across the Company to implement a program designed to protect the Company’s information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with the Company’s incident response and recovery plans. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | The CISO has worked in the information security field for over 15 years and holds an undergraduate degree in computer systems management and master’s degrees in both cybersecurity and technology management. He has also attained multiple cybersecurity-related professional certifications and licenses, including Certified Information Systems Security Professional, and is an adjunct professor of cybersecurity at New York University and Fordham University. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | The cybersecurity management team meets regularly to review cybersecurity and data privacy strategy, receive updates, and consider the Company’s current risk posture. The team meetings also build leadership consensus on cybersecurity risk management and tolerance. In the event they become aware of a cybersecurity threat or incident, employees are expected to follow established lines of communication to notify the relevant members of the cybersecurity management team and allow the relevant team members to coordinate the evaluation and response to such threats and incidents as necessary. To facilitate the Company’s cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the CISO and the rest of the cybersecurity management team monitor the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to other members of senior management and the Audit Committee when appropriate. Such plans also dictate notification responses to Company management based on the severity of the incident. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Basis of Presentation |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | 1. Basis of Presentation The accompanying consolidated financial statements include the accounts of WW International, Inc., all of its subsidiaries and the variable interest entities of which WW International, Inc. is the primary beneficiary (as discussed below). The terms “Company” and “WW” as used throughout these notes are used to indicate WW International, Inc. and all of its operations consolidated for purposes of its financial statements. The Company’s “Digital” business refers to providing subscriptions to the Company’s digital product offerings, which formerly included Digital 360 (as applicable). The Company’s “Workshops + Digital” business refers to providing subscriptions for unlimited access to the Company’s workshops combined with the Company’s digital subscription product offerings (including to former Digital 360 members (as applicable)). The Company’s “Clinical” business refers to providing subscriptions to the Company’s clinical product offerings provided by WeightWatchers Clinic (formerly referred to as Sequence) combined with the Company’s digital subscription product offerings and unlimited access to the Company’s workshops. In the second quarter of fiscal 2022, the Company ceased offering its Digital 360 product. More than a majority of associated members were transitioned from the Company’s Digital business to its Workshops + Digital business during the second quarter of fiscal 2022, with a de minimis number transitioning during the beginning of the third quarter of fiscal 2022. The cessation of this product offering and these transitions of former Digital 360 members at the then-current pricing for such product impacted the number of End of Period Subscribers in each business as well as the associated Paid Weeks and Revenues for each business. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (“GAAP”) and include all of the Company’s majority-owned subsidiaries. All entities acquired, and any entity of which a majority interest was acquired, are included in the consolidated financial statements from the date of acquisition. All intercompany accounts and transactions have been eliminated in consolidation. As previously disclosed, effective the first day of fiscal 2024 (i.e., December 31, 2023), as a result of the continued evolution of the Company’s centralized organizational structure in fiscal 2023, and management’s 2024 strategic planning process, the Company’s reportable segments changed to one segment for the purpose of making operational and resource decisions and assessing financial performance. Segment data for the fiscal years ended December 30, 2023 and December 31, 2022 has been updated to reflect this reportable segment structure. See Note 17 for disclosures related to segments. In the fourth quarter of fiscal 2024, the Company identified and recorded an out-of-period adjustment related to an income tax error. The impact of correcting this error, which was immaterial to all current and prior period financial statements and corrected in the fourth quarter of fiscal 2024, resulted in an income tax benefit of approximately $1,963, with a corresponding increase to other comprehensive loss, for the fiscal year ended December 28, 2024. In the second quarter of fiscal 2024, the Company identified and recorded an out-of-period adjustment related to an income tax error. The impact of correcting this error, which was immaterial to all current and prior period financial statements and corrected in the second quarter of fiscal 2024, resulted in an income tax expense of approximately $2,748, with a corresponding decrease to net income, for the fiscal year ended December 28, 2024. On April 10, 2023, the Company completed its previously announced acquisition of Weekend Health, Inc., doing business as Sequence (“Sequence”). The accompanying consolidated financial statements include the results of operations of Sequence (now operating as WeightWatchers Clinic) from the date of acquisition. See Note 6 for additional information on the Company’s acquisitions. Prior period amounts have been reclassified to conform with the current period presentation. Liquidity The Company has experienced significant disruption and competitive pressures, including shifts in consumer behavior in the weight loss category, a rapid proliferation of GLP-1 and other medications available as weight-loss options, and significantly increased competition from new entrants. These factors have negatively impacted the Company’s Behavioral business. While the Clinical business is growing, it has not yet been able to offset the declines in the Behavioral business, resulting in decreased revenue overall and decreased cash flows from operations. The Company’s management has continued to execute certain cost-savings initiatives, including the Company’s previously disclosed 2024 restructuring plan, to proactively manage the Company’s liquidity. If the cost-saving initiatives do not provide the expected net benefit, the Company’s liquidity, results of operations and financial position may be materially adversely impacted. The Company has recurring net losses. During the fiscal year ended December 28, 2024, the Company recorded an operating loss of $236,222 and a net loss of $345,701. Operating loss included $315,033 of franchise rights acquired impairments that were non-cash. The Company’s annual revenues decreased from $889,551 for the fiscal year ended December 30, 2023 to $785,921 for the fiscal year ended December 28, 2024, in which the closure of the consumer products business resulted in a revenue decline of $54,968 versus the prior year. Cash used for operating activities for the fiscal year ended December 28, 2024 was $16,840, which included $96,844 of interest payments and $30,716 of severance payments. The Company has a total deficit of $1,114,372 at December 28, 2024. In addition, the Company has $1,430,643 of long-term debt, net at December 28, 2024 and incurred $108,954 in interest expense for the fiscal year ended December 28, 2024. The Company’s principal sources of liquidity are cash and cash equivalents, cash flows from operations and proceeds from the January 2025 borrowings under its Revolving Credit Facility (as defined below). The Company’s primary cash needs for the twelve months following the issuance date of these financial statements (“issuance date”) are funding its operations and global strategic initiatives, meeting debt service requirements and other financing commitments. The Company believes that future cash flows from operations, unrestricted cash on hand of $53,024 at December 28, 2024 (of which $22,024 is maintained at foreign subsidiaries), proceeds from the January 2025 borrowings under its Revolving Credit Facility and the continued impact of its cost-savings initiatives will provide it with sufficient liquidity to meet its obligations for at least the next twelve months from the issuance date. The Company’s Revolving Credit Facility matures on April 13, 2026. This facility provides a source of liquidity for the Company. On January 2, 2025 and January 31, 2025, the Company increased its outstanding debt by borrowing $50,000 and $121,341, respectively, under its Revolving Credit Facility currently at an interest rate of approximately 7.3%. As a result of these drawdowns and outstanding letters of credit, the Company has no availability for future borrowings under its Revolving Credit Facility. All outstanding borrowings under the Revolving Credit Facility on April 13, 2025 and thereafter will be reflected as a current liability. If the aggregate principal amount of extensions of credit outstanding under the Revolving Credit Facility, inclusive of outstanding letters of credit, as of any fiscal quarter end exceeds 35%, or $61,250, of the amount of the aggregate commitments under the Revolving Credit Facility, the Company is required to be in compliance with a Consolidated First Lien Leverage Ratio of 5.25:1.00 through and including the first fiscal quarter of 2025 and 5.00:1.00 thereafter. The Company’s Consolidated First Lien Leverage Ratio as of December 28, 2024 was 8.36:1.00. Accordingly, in order to avoid an Event of Default under the Revolving Credit Facility, absent the Company and its lenders agreeing to a change in the existing terms and conditions, the Company will need to repay Revolving Credit Facility borrowings in excess of $61,250 by March 29, 2025, the end of the Company's first fiscal quarter of 2025. At December 28, 2024, the Company also had outstanding $1,445,000 of total debt, consisting of borrowings under the Term Loan Facility (as defined below) of $945,000 that mature on April 13, 2028 and $500,000 in aggregate principal amount of Senior Secured Notes (as defined below) that matures on April 15, 2029. The debt facilities pursuant to which such long-term debt was issued contain cross-default and/or cross-acceleration provisions that could result in an acceleration of such indebtedness in the event of an Event of Default under the Revolving Credit Facility. The Company has the intent and ability to remain in compliance with its obligations under its debt agreements for at least the next twelve months following the issuance date. The Company continues to actively evaluate its capital structure and intends to engage with its lenders to explore transactions to strengthen its balance sheet by reducing its leverage and interest expense and extending its existing debt maturities. As of the issuance date, the Company believes it has sufficient liquidity to meet its obligations, including compliance with covenants under its long-term debt and Revolving Credit Facility obligations, through at least twelve months from the issuance date. However, beyond the period of twelve months from the issuance date, if the Company does not successfully enter into a transaction(s) to strengthen its balance sheet and increase its financial flexibility, the Company’s liquidity, results of operations, cash flows and financial condition may be materially adversely impacted. |
Summary of Significant Accounting Policies |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Fiscal Year The Company’s fiscal year ends on the Saturday closest to December 31st and consists of either 52 or 53-week periods. Fiscal 2024, fiscal 2023 and fiscal 2022 each contained 52 weeks. Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and judgments, including those related to the impairment analyses for goodwill and other indefinite-lived intangible assets, revenue, share-based compensation, income taxes, tax contingencies and litigation. The Company bases its estimates on historical experience and on various other factors and assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. While all available information has been considered, actual amounts could differ from these estimates. These estimates and assumptions may change as new events occur and additional information is obtained, and such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. Variable Interest Entity The Company evaluates its ownership, contractual and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex and involve judgment and the use of estimates and assumptions based on available information. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, such entity is consolidated in the Company’s consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. The Company performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Through WeightWatchers Clinic, the Company operates certain clinical telehealth groups which are deemed to be Friendly-Physician Entities (“FPEs”) and due to legal requirements, the physician-owners must retain 100% of the equity interest. The Company’s agreements with FPEs generally consist of both an Administrative Services Agreement, which provides for various administrative and management services to be provided by the Company to the FPE, and Share Transfer Agreement (“STA”) with the physician-owners of the FPEs, which provides for the transition of ownership interest of the FPEs under certain conditions. The Company has the right to receive income as an ongoing management fee, which effectively absorbs all of the residual interests, and can also provide financial support through loans to the FPEs. The Company has exclusive responsibility for the provision of all nonmedical services including technology and intellectual property required for the day-to-day operation and management of each of the FPEs. In addition, the STA provides that the Company has the right to designate a person(s) to purchase the equity interest of the FPE for a nominal amount in the event of a succession event at the Company’s discretion. Based on the provisions of these agreements, the Company determined that the FPEs are VIEs due to their equity holder having insufficient capital at risk, and the Company has a variable interest in the FPEs. The contractual arrangements described above allow the Company to direct the activities that most significantly affect the economic performance of the FPEs. Accordingly, the Company is the primary beneficiary of the FPEs and consolidates the FPEs under the VIE model. Furthermore, as a direct result of nominal initial equity contributions by the physicians, the financial support the Company can provide to the FPEs (e.g., loans) and the provisions of the contractual arrangements and nominee shareholder succession arrangements described above, the interests held by noncontrolling interest holders lack economic substance and do not provide them with the ability to participate in the residual profits or losses generated by the FPEs. Therefore, all income and expenses recognized by the FPEs are consolidated by the Company. The Company does not hold interests in any VIEs for which the Company is not deemed to be the primary beneficiary. Translation of Foreign Currencies For all foreign operations, the functional currency is the local currency. Assets and liabilities of these operations are translated into U.S. dollars using the exchange rate in effect at the end of each reporting period. Income statement accounts are translated at the average rate of exchange prevailing during each reporting period. Translation adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive loss. Foreign currency gains and losses arising from the translation of intercompany receivables and intercompany payables with the Company’s international subsidiaries are recorded as a component of other expense, net, unless the receivable or payable is considered long-term in nature, in which case the foreign currency gains and losses are recorded as a component of accumulated other comprehensive loss. Cash and Cash Equivalents Cash and cash equivalents are defined as highly liquid investments with original maturities of three months or less. Cash balances may, at times, exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions. Cash includes balances due from third-party credit card companies. Receivables Receivables include amounts that are billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected, including balances from customers under recur bill commitment plans. The assessment of the likelihood of customer defaults is based on various factors, including length of time the receivables are past due and historical experience, all of which are subject to change. The Company’s credit write offs were $15,080 and $1,241 for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. Inventories Inventories, which consist of finished goods, are stated at the lower of cost or net realizable value on a first-in, first-out basis, net of reserves for obsolescence and shrinkage. Property and Equipment Property and equipment are recorded at cost. For financial reporting purposes, equipment is depreciated on the straight-line method over the estimated useful lives of the assets (3 to 10 years). Leasehold improvements are amortized on the straight-line method over the shorter of the term of the lease or the useful life of the related assets. Expenditures for new facilities and improvements that substantially extend the useful life of an asset are capitalized. Ordinary repairs and maintenance are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related depreciation are removed from the accounts and any related gains or losses are included in income. Leases A lease is defined as an arrangement that contractually specifies the right to use and control an identified asset for a specific period of time in exchange for consideration. Operating leases are included in operating lease assets, portion of operating lease liabilities due within one year, and long-term operating lease liabilities in the Company’s consolidated balance sheets. Finance leases are included in property and equipment, net, other accrued liabilities, and other long-term liabilities in the Company’s consolidated balance sheets. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term, using the Company’s incremental borrowing rate commensurate with the lease term, since the Company’s lessors do not provide an implicit rate, nor is one readily available. The incremental borrowing rate is calculated based on the Company’s credit yield curve and adjusted for collateralization, credit quality and economic environment impact, all where applicable. The lease asset includes scheduled lease payments and excludes lease incentives, such as free rent periods and tenant improvement allowances. The Company has certain leases that may include an option to renew and when it is reasonably probable to exercise such option, the Company will include the renewal option terms in determining the lease asset and lease liability. The Company does not have any renewal options that would have a material impact on the terms of the leases and that are also reasonably expected to be exercised as of December 28, 2024. A lease may contain both fixed and variable payments. Variable lease payments that are linked to an index or rate are measured based on the current index or rate at the implementation of the lease accounting standard, or lease commencement date for new leases, with the impact of future changes in the index or rate being recorded as a period expense. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components and has elected not to separate non-lease components from lease components and instead to account for each separate lease component and non-lease component as a single lease component. The Company has elected the short-term lease exception accounting policy, whereby the recognition requirements of the updated guidance is not applied and lease expense is recorded on a straight-line basis with respect to leases with an initial term of 12 months or less. Impairment of Long-Lived Assets The Company reviews long-lived assets, including amortizable intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying value of the assets may not be fully recoverable. In fiscal 2024, fiscal 2023 and fiscal 2022, the Company recorded impairment charges of $142, $900 and $714, respectively, related to internal-use computer software and website development costs that were not expected to provide substantive service potential. In fiscal 2024, fiscal 2023 and fiscal 2022, the Company recorded impairment charges of $339, $212 and $61, respectively, related to property and equipment that were expected to be disposed of before the end of their estimated useful lives. In fiscal 2022, the Company recorded lease asset impairment charges of $2,680 in the aggregate. See Note 4 for further information on the Company’s leases. Franchise Rights Acquired Finite-lived franchise rights acquired are amortized over the remaining contractual period, which is generally less than one year. Indefinite-lived franchise rights acquired are tested for potential impairment on at least an annual basis or more often if events so require. In performing the impairment analysis for indefinite-lived franchise rights acquired, the fair value for franchise rights acquired is estimated using a discounted cash flow approach referred to as the hypothetical start-up approach for franchise rights related to the Company’s Workshops + Digital business and a relief from royalty methodology for franchise rights related to the Company’s Digital business. The aggregate estimated fair value for these franchise rights is then compared to the carrying value of the unit of account for these rights. The Company has determined the appropriate unit of account for purposes of assessing impairment to be the combination of the rights in both the Workshops + Digital business and the Digital business in the country in which the applicable acquisition occurred. The net book value of franchise rights acquired for the United States unit of account as of the December 28, 2024 balance sheet date was $68,627, which represented 100.0% of total franchise rights acquired as of December 28, 2024. The net book values of franchise rights acquired for the United States, Australia, United Kingdom and New Zealand units of account as of the December 30, 2023 balance sheet date were $374,353, $4,232, $2,806 and $2,420, respectively, which represented 97.6%, 1.1%, 0.7% and 0.6%, respectively, of total franchise rights acquired as of December 30, 2023. In its hypothetical start-up approach analyses for fiscal 2024, the Company assumed that the year of maturity was reached after 7 years. Subsequent to the year of maturity, the Company estimated future cash flows for the Workshops + Digital business in each country based on assumptions regarding revenue growth and operating income margins. In the Company’s relief from royalty approach analyses for fiscal 2024, the cash flows associated with the Digital business in each country were based on the expected Digital revenue for such country and the application of a royalty rate based on current market terms. The cash flows for the Workshops + Digital and the Digital businesses were discounted utilizing rates which were calculated using the weighted average cost of capital, which included the cost of equity and the cost of debt. Goodwill In performing the impairment analysis for goodwill, the fair value for the Company’s reporting units is estimated using a discounted cash flow approach. This approach involves projecting future cash flows attributable to the reporting unit and discounting those estimated cash flows using an appropriate discount rate. The estimated fair value is then compared to the carrying value of the reporting unit. The Company has determined the appropriate reporting units for purposes of assessing goodwill impairment to be the Behavioral and Clinical business lines. See Note 7 for further information on the Company’s change in goodwill reporting units. The net book values of goodwill for the Behavioral and Clinical reporting units as of the December 28, 2024 balance sheet date were $149,841 and $89,742, respectively, which represented 62.5% and 37.5%, respectively, of total goodwill as of December 28, 2024. In performing the impairment analysis for goodwill, for all of the Company’s reporting units, the Company estimated future cash flows by utilizing the historical debt-free cash flows (cash flows provided by operations less capital expenditures) attributable to each of the Behavioral and Clinical reporting units and then applied expected future operating income growth rates for the respective reporting unit. The Company utilized operating income as the basis for measuring its potential growth because it believes it is the best indicator of the performance of its business. The Company then discounted the estimated future cash flows utilizing a discount rate which was calculated using the weighted average cost of capital, which included the cost of equity and the cost of debt. Indefinite-Lived Franchise Rights Acquired and Goodwill Impairment Tests The Company reviews indefinite-lived franchise rights acquired and goodwill for potential impairment on at least an annual basis or more often if events so require. The Company performed its annual fair value impairment testing as of May 5, 2024 and May 7, 2023, each the first day of fiscal May, on its indefinite-lived franchise rights acquired and goodwill. In addition, based on triggering events, the Company performed interim impairment tests as of March 30, 2024 and September 28, 2024 on its indefinite-lived franchise rights acquired and goodwill for the first and third quarters of fiscal 2024, respectively. See Note 7 for further information regarding the results of the franchise rights acquired and goodwill annual impairment tests, and the franchise rights acquired and goodwill interim impairment tests for the first and third quarters of fiscal 2024. Other Intangible Assets Other finite-lived intangible assets are amortized using the straight-line method over their estimated useful lives of 3 to 20 years. The Company expenses all software costs incurred during the preliminary project stage and capitalizes all internal and external direct costs of materials and services consumed in developing software once the development has reached the application development stage. Application development stage costs generally include software configuration, coding, installation to hardware and testing. These costs are amortized over their estimated useful lives of 3 to 5 years for software and website development costs. All costs incurred for upgrades, maintenance and enhancements, including the cost of website content, which do not result in additional functionality, are expensed as incurred. Revenue Recognition Revenues are recognized when control of the promised services or goods is transferred to the Company’s customers in an amount that reflects the consideration it expects to be entitled to in exchange for those services or goods. The Company earns revenue from subscriptions for its Digital and Clinical products and by conducting workshops, for which it charges a fee, predominantly through commitment plans, as well as prepayment plans. The Company also earns revenue by collecting royalties related to licensing agreements, collecting royalties from franchisees, and publishing. Prior to fiscal 2024, the Company also earned revenue by selling consumer products. Commitment plan revenues and prepaid workshop fees are recorded to revenue on a straight-line basis as control is transferred since these performance obligations are satisfied over time. “Digital Subscription Revenues,” consisting of the fees associated with subscriptions for the Company’s Digital offerings, are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. One-time Digital sign-up fees are considered immaterial in the context of the contract and the related revenue is amortized into revenue over the commitment period. “Workshops + Digital Subscription Revenues”, consisting of the fees associated with subscriptions for the Company’s Workshops + Digital offerings, are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. In the Workshops + Digital business, the Company generally charges non-refundable registration and starter fees in exchange for access to the Company’s digital subscription products, an introductory information session and materials it provides to new members. Revenue from these registration and starter fees is considered immaterial in the context of the contract and is amortized into revenue over the commitment period. “Clinical Subscription Revenues” consist of revenues earned from initial consultations that are conducted to determine if a prospective member is eligible to be a Clinical subscriber and from fees associated with subscriptions for the Company’s Clinical offerings, predominantly through monthly commitment plans and prepayment plans. One-time initial consultation fees are recorded as revenue at the point in time control is transferred, which is when the initial consultation takes place. Commitment plan revenues and prepaid subscription fees are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. Revenue from royalties is recognized at the point in time control is transferred, which is when royalties are earned. Revenue from consumer product sales was recognized at the point in time control was transferred, which was when products were shipped to customers and partners and title and risk of loss passed to them. For revenue transactions that involve multiple performance obligations, the amount of revenue recognized is determined using the relative fair value approach, which is generally based on each performance obligation’s stand-alone selling price. Discounts to customers, including free registration offers, are recorded as a deduction from gross revenue in the period such revenue was recognized. The Company grants refunds in aggregate amounts that historically have not been material. Because the period of payment of the refund generally approximates the period revenue was originally recognized, refunds are recorded as a reduction of revenue over the same period. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The Company expenses sales commissions when incurred (amortization period would have been one year or less) and these expenses are recorded within selling, general and administrative expenses. The Company treats shipping and handling fees as fulfillment costs and not as a separate performance obligation, and as a result, any fees received from customers are included in the transaction price allocated to the performance obligation of providing goods with a corresponding amount accrued within cost of product sales and other for amounts paid to applicable carriers. Sales tax, value-added tax and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. Advertising Costs Advertising costs consist primarily of broadcast and digital media. All costs related to advertising are expensed in the period incurred, except for media production-related costs, which are expensed the first time the advertising takes place. Total advertising expenses for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were $234,316, $235,227 and $238,978, respectively. Income Taxes Deferred income tax assets and liabilities result primarily from temporary differences between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which differences are expected to reverse. If it is more-likely-than-not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company considers historic levels of income, estimates of future taxable income and feasible tax planning strategies in assessing the need for a tax valuation allowance. The Company recognizes a benefit for uncertain tax positions when a tax position taken or expected to be taken in a tax return is more-likely-than-not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company recognizes accrued interest and penalties associated with uncertain tax positions as part of the provision for income taxes on its consolidated statements of operations. In addition, assets and liabilities acquired in purchase business combinations are assigned their fair values and deferred taxes are provided for lower or higher tax bases. Derivative Instruments and Hedging The Company is exposed to certain risks related to its ongoing business operations, primarily interest rate risk and foreign currency risk. Interest rate swaps were historically entered into to hedge a portion of the cash flow exposure associated with the Company’s variable-rate borrowings. At December 28, 2024, the Company did not have any interest rate swaps in effect. The Company does not use any derivative instruments for trading or speculative purposes. The Company recognized the fair value of all derivative instruments as either assets or liabilities on the balance sheet. The Company designated and accounted for interest rate swaps as cash flow hedges of its variable-rate borrowings. For derivative instruments that were designated and qualified as cash flow hedges, the effective portion of the gain or loss on the derivative was reported as a component of accumulated other comprehensive loss and reclassified into earnings in the periods during which the hedged transactions affected earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness were recognized in current earnings. The fair value of the Company’s interest rate swaps was reported as a component of accumulated other comprehensive loss on its balance sheet. See Note 18 for a further discussion regarding the fair value of the Company’s interest rate swaps. The net effect of the interest payable and receivable under the Company’s effective interest rate swap was included in interest expense on its consolidated statements of operations. Deferred Financing Costs Deferred financing costs consist of fees paid by the Company as part of the establishment, exchange and/or modification of the Company’s long-term debt. Amortization expense for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $5,018, $5,018 and $5,018, respectively. |
Accounting Standards Adopted in Current Year |
12 Months Ended |
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Dec. 28, 2024 | |
| Accounting Changes and Error Corrections [Abstract] | |
| Accounting Standards Adopted in Current Year and Recently Issued Accounting Pronouncements | 3. Accounting Standards Adopted in Current Year In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, ASU 2023-07 enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment and contains other disclosure requirements. The effective date of the new guidance for public companies is for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. In the fourth quarter of fiscal 2024, the Company adopted and applied the new guidance retrospectively to all prior periods presented in the financial statements. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. 21. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 also improves the effectiveness and comparability of income tax disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) and (2) removing disclosures that no longer are considered cost beneficial or relevant. The effective date of the new guidance for public companies is for annual periods beginning after December 15, 2024. Early adoption is permitted. The new guidance should be applied prospectively, although retrospective application is permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its consolidated financial statements and related disclosures, including the adoption date and transition method. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures”, which requires the disaggregation of certain expenses in the notes to the financial statements to provide enhanced transparency into the expense captions presented on the face of the income statement. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. Under ASU 2024-03, a public entity would be required to disclose information about purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion for each income statement line item that contains those expenses, as well as a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 also requires disclosure of the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. This guidance is effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, and may be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its consolidated financial statements and related disclosures, including the adoption date and transition method. The Company has determined that other recently issued accounting pronouncements are not expected to have a material impact on its consolidated financial statements. |
Leases |
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| Leases | 4. Leases At December 28, 2024 and December 30, 2023, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
For the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the components of the Company’s lease expense were as follows:
As previously disclosed, in conjunction with the continued rationalization of its real estate portfolio, the Company entered into subleases with commencement dates in the first quarter of fiscal 2023, which resulted in lease asset impairment charges of $2,680 in the aggregate that were recognized in general and administrative expenses in the Company's consolidated statements of operations for the fiscal year ended December 31, 2022. The Company recorded $4,217 and $3,375 of sublease income for the fiscal years ended December 28, 2024 and December 30, 2023, respectively, as an offset to general and administrative expenses. At December 28, 2024 and December 30, 2023, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
The Company’s leases have remaining lease terms of 0 to 8 years with a weighted average lease term of 6.84 years as of December 28, 2024. At December 28, 2024, the maturity of the Company’s operating lease liabilities in each of the next five fiscal years and thereafter are as follows:
Supplemental cash flow information related to leases for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were as follows:
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Revenue |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | 5. Revenue The following table presents the Company’s revenues disaggregated by revenue source:
Information about Contract Balances For Subscription Revenues, the Company can collect payment in advance of providing services. Any amounts collected in advance of services being provided are recorded in deferred revenue. In the case where amounts are not collected, but the service has been provided and the revenue has been recognized, the amounts are recorded in accounts receivable. The opening and ending balances of the Company’s deferred revenues were as follows:
Revenue recognized from amounts included in current deferred revenue as of December 30, 2023 was $33,753 for the fiscal year ended December 28, 2024. Revenue recognized from amounts included in current deferred revenue as of December 31, 2022 was $32,156 for the fiscal year ended December 30, 2023. The Company’s long-term deferred revenue, which is included in other liabilities on its consolidated balance sheets, represents revenue that will not be recognized during the next 12 months and is generally related to upfront payments received as an inducement for entering into certain sales-based royalty agreements with third-party licensees. This revenue is amortized on a straight-line basis over the term of the applicable agreement. |
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| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions | 6. Acquisitions Acquisition of Sequence On April 10, 2023 (the “Closing Date”), the Company completed its previously announced acquisition of Weekend Health, Inc., doing business as Sequence, a Delaware corporation (“Sequence”), subject to the terms and conditions set forth in the Agreement and Plan of Merger, dated as of March 4, 2023, by and among the Company, Well Holdings, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company, Sequence, and Fortis Advisors LLC, a Delaware limited liability company, solely in its capacity as the Equityholders’ Representative (as defined therein) for Sequence (the “Merger Agreement”), pursuant to which Sequence continued as a wholly-owned subsidiary of the Company (the “Acquisition”). Sequence provided a technology powered care platform and mobile web application through its subscription based service, which included a comprehensive weight management program, pharmacotherapy treatment, nutrition plans, health insurance coordination services, and access to clinicians, dietitians, fitness coaches and care coordinators. As consideration for the Acquisition, the Company agreed to pay an aggregate amount equal to $132,000, subject to the adjustments set forth in the Merger Agreement (the “Merger Consideration”). Subject to the terms and conditions of the Merger Agreement, the Merger Consideration has been paid, or is payable, as follows: (i) approximately $64,217 in cash (inclusive of approximately $25,800 of cash on the balance sheet of Sequence) and approximately $34,702 in the form of approximately 7,996 newly issued shares of Company common stock (valued at $4.34 per share), in each case, paid on or promptly following the Closing Date, (ii) $16,000 in cash paid on April 10, 2024, and (iii) $16,000 in cash to be paid on April 10, 2025, in each case, subject to the adjustments and deductions set forth in the Merger Agreement. The following table shows the purchase price allocation for Sequence to the acquired identifiable assets, liabilities assumed and goodwill:
(1) Reflects $16,000 of cash payable on April 10, 2025 as Merger Consideration discounted using the Company's weighted average cost of debt. (2) Represents the fair value of the shares transferred to the sellers as Merger Consideration, based on the number of shares to be issued, 7,996, multiplied by the closing price of the Company's shares on April 10, 2023 of $4.12 per share. The Acquisition has been accounted for under the purchase method of accounting. The Acquisition resulted in goodwill related to, among other things, expected synergies in operations. The goodwill will not be deductible for tax purposes. The results of operations of Sequence (now operating as WeightWatchers Clinic) have been included in the consolidated operating results of the Company from the Closing Date. The Company incurred transaction-related costs of $8,605 for the fiscal year ended December 30, 2023. These costs were associated with legal and professional services and were recognized as operating expenses on the consolidated statements of operations. Acquisitions of Franchisees On February 18, 2022, the Company acquired the entire issued share capital of its Republic of Ireland franchisee, Denross Limited, and its Northern Ireland franchisee, Checkweight Limited, as follows: (a) The Company acquired the entire issued share capital of Denross Limited for a purchase price of $4,500. Payment was in the form of cash paid on December 21, 2021 ($650), cash paid on February 18, 2022 ($3,100) and cash in reserves ($750), of which $375 was paid on February 17, 2023 and $375 was paid on February 20, 2024. The total purchase price was allocated to goodwill ($4,645), deferred tax asset ($496) fully offset by a tax valuation allowance ($496), assumed liabilities ($166), customer relationship value ($14), cash ($4) and other receivables ($3). The goodwill will not be deductible for tax purposes; and (b) The Company acquired the entire issued share capital of Checkweight Limited for a purchase price of $1,500. Payment was in the form of cash ($1,250) and cash in reserves ($250), of which $125 was paid on February 17, 2023 and $125 was paid on February 20, 2024. The total purchase price was allocated to goodwill ($1,291), franchise rights acquired ($240), assumed liabilities ($56), customer relationship value ($17), deferred tax asset ($5) fully offset by a tax valuation allowance ($5), cash ($4) and other receivables ($4). The goodwill will not be deductible for tax purposes. These acquisitions have been accounted for under the purchase method of accounting and, accordingly, earnings of the acquired franchises have been included in the consolidated operating results of the Company since the date of acquisition. The goodwill and franchise rights acquired for these acquisitions, as applicable, have been subsequently impaired since the date of acquisition. See Note 7 for additional information on the Company’s impairment charges. |
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Franchise Rights Acquired, Goodwill and Other Intangible Assets |
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| Franchise Rights Acquired, Goodwill and Other Intangible Assets | 7. Franchise Rights Acquired, Goodwill and Other Intangible Assets Franchise rights acquired are due to acquisitions of the Company’s franchised territories as well as the acquisition of franchise promotion agreements and other factors associated with the acquired franchise territories. For the fiscal year ended December 28, 2024, the change in the carrying value of franchise rights acquired was due to the impairments of the United States, Australia, United Kingdom and New Zealand units of account as discussed below and the effect of exchange rate changes. Goodwill primarily relates to the acquisition of the Company by The Kraft Heinz Company (successor to H.J. Heinz Company) in 1978, and the Company’s acquisitions of WW.com, LLC (formerly known as WW.com, Inc. and WeightWatchers.com, Inc.) in 2005, Sequence in 2023 and the Company’s franchised territories. See Note 6 for additional information on the Company’s acquisitions. For the fiscal year ended December 28, 2024, the change in the carrying value of goodwill was due to the effect of exchange rate changes as follows:
Accumulated goodwill impairment loss was $25,111 at both December 28, 2024 and December 30, 2023. Change in Goodwill Reporting Units As discussed in Note 1, effective the first day of fiscal 2024 (i.e., December 31, 2023), as a result of the continued evolution of the Company’s centralized organizational structure in fiscal 2023, and management’s 2024 strategic planning process, the Company’s reportable segments changed to one segment for the purpose of making operational and resource decisions and assessing financial performance. In connection with the Company’s change to one reportable segment, the Company’s operating segments also changed to one segment. As a result of this change to the Company’s operating segments, the Company reassessed its reporting units for the evaluation of goodwill during the first quarter of fiscal 2024. In accordance with the Financial Accounting Standards Board’s Accounting Standards Codification 350, Intangibles—Goodwill and Other (“ASC 350”), the Company determines its reporting units based upon whether discrete financial information is available, if management regularly reviews the operating results of the component, the nature of the products offered to customers and the market characteristics of each reporting unit. A reporting unit is considered to be an operating segment or one level below an operating segment also known as a component. Prior to the change in operating segments, the Company’s reporting units for the evaluation of goodwill were determined by country. Component level financial information is reviewed by management across two business lines: Behavioral and Clinical. The Company’s “Behavioral” business line consists of the Company’s Workshops + Digital business and Digital business. Accordingly, these were determined to be the Company's new reporting units as of the first day of fiscal 2024. This change in reporting units qualified as a triggering event and required goodwill to be tested for impairment. As required by ASC 350, the Company tested goodwill for impairment immediately before and after the change in reporting units. As a result of these impairment analyses, it was determined that goodwill was not impaired before or after the change in reporting units. Third Quarter Fiscal 2024 Indefinite-Lived Franchise Rights Acquired and Goodwill Interim Impairment Tests During the quarter ended September 28, 2024, the Company identified various qualitative and quantitative factors which collectively indicated a triggering event had occurred. These factors included the continued decline in the Company’s stock price and market capitalization, and actual business performance. As a result of this triggering event, the Company performed interim impairment tests for all of its franchise rights acquired units of account and goodwill reporting units in the third quarter of fiscal 2024. In performing the interim franchise rights acquired impairment test as of September 28, 2024, the Company determined that the carrying values of its United States and United Kingdom franchise rights acquired with indefinite-lived units of account exceeded their respective fair values. Accordingly, the Company recorded for its United States and United Kingdom units of account of $54,295 and $2,750 (which comprised the remaining balance of franchise rights acquired for the United Kingdom unit of account), respectively, in the third quarter of fiscal 2024. These impairments were driven primarily by the weighted average cost of capital used in this interim impairment test, reflecting market factors, including higher interest rates and the trading values of the Company’s equity and debt, and, to a lesser extent, business performance. In performing the interim goodwill impairment test as of September 28, 2024, the Company determined that the carrying values of its goodwill reporting units did not exceed their respective fair values and, therefore, no impairment existed. Based on the results of the interim franchise rights acquired impairment test as of September 28, 2024 performed for the Company’s United States unit of account, which held 100.0% of the Company’s indefinite-lived franchise rights acquired as of the December 28, 2024 balance sheet date, the estimated fair value of this unit of account was equal to its respective carrying value. Accordingly, a change in the underlying assumptions for the United States unit of account may change the results of the impairment assessment and, as such, could result in further impairment of the franchise rights acquired related to the United States, for which the net book value was $68,627 as of December 28, 2024. Based on the results of the interim goodwill impairment test as of September 28, 2024 performed for the Company’s Behavioral reporting unit, which held 62.5% of the Company’s goodwill as of the December 28, 2024 balance sheet date, there was significant headroom in the goodwill impairment test for this unit with the difference between the fair value and the carrying value exceeding 100% and, therefore, no impairment existed. Based on the results of the interim goodwill impairment test as of September 28, 2024 performed for the Company’s Clinical reporting unit, which held 37.5% of the Company’s goodwill as of the December 28, 2024 balance sheet date, the estimated fair value of this reporting unit was at least 20% higher than the respective unit's carrying value and, therefore, no impairment existed. Indefinite-Lived Franchise Rights Acquired and Goodwill Annual Impairment Tests The Company performed its annual fair value impairment testing on its indefinite-lived franchise rights acquired and goodwill for fiscal 2024, fiscal 2023 and fiscal 2022 on May 5, 2024, May 7, 2023 and May 8, 2022, respectively. In performing the annual impairment analyses as of May 5, 2024 and May 7, 2023, the Company determined that the carrying values of its franchise rights acquired with indefinite-lived units of account and goodwill reporting units did not exceed their respective fair values and, therefore, no existed. In performing the annual impairment analysis as of May 8, 2022, the Company determined that (i) the carrying values of its Canada and New Zealand franchise rights acquired with indefinite-lived units of account exceeded their respective fair values and, as a result, the Company recorded for its Canada and New Zealand units of account of $24,485 and $834, respectively, in the second quarter of fiscal 2022; and (ii) the carrying values of all of its other franchise rights acquired with indefinite-lived units of account did not exceed their respective fair values and, therefore, no existed with respect thereto. In performing the annual impairment analysis as of May 8, 2022, the Company determined that the carrying values of its goodwill reporting units did not exceed their respective fair values and, therefore, no impairment existed. Based on the results of the Company’s May 5, 2024 annual franchise rights acquired impairment test performed for its United States and United Kingdom units of account, each unit of account had an estimated fair value at least 5% higher than the respective unit's carrying value and, therefore, no existed. Based on the results of the Company’s May 5, 2024 annual goodwill impairment test performed for all of its reporting units, each unit had an estimated fair value at least 30% higher than the respective unit’s carrying value and, therefore, no impairment existed. First Quarter Fiscal 2024 Indefinite-Lived Franchise Rights Acquired and Goodwill Interim Impairment Tests During the quarter ended March 30, 2024, the Company identified various qualitative and quantitative factors which collectively indicated a triggering event had occurred. These factors included the continued decline in the Company’s stock price and market capitalization, and actual business performance. As a result of this triggering event, the Company performed interim impairment tests for all of its franchise rights acquired units of account and goodwill reporting units in the first quarter of fiscal 2024. In performing the interim franchise rights acquired impairment test as of March 30, 2024, the Company determined that the carrying values of its United States, Australia, New Zealand and United Kingdom franchise rights acquired with indefinite-lived units of account exceeded their respective fair values. Accordingly, the Company recorded for its United States, Australia, New Zealand and United Kingdom units of account of $251,431, $4,074 (which comprised the remaining balance of franchise rights acquired for the Australia unit of account), $2,328 (which comprised the remaining balance of franchise rights acquired for the New Zealand unit of account) and $155, respectively, in the first quarter of fiscal 2024. These impairments were driven primarily by the weighted average cost of capital used in this interim impairment test, reflecting market factors, including higher interest rates and the trading values of the Company’s equity and debt, and, to a lesser extent, business performance. Based on the results of the interim goodwill impairment test as of March 30, 2024 performed for all of the Company’s reporting units, each unit had an estimated fair value at least 25% higher than the respective unit’s carrying value and, therefore, no impairment existed. Republic of Ireland and Northern Ireland Goodwill Impairments During the fourth quarter of fiscal 2023, the Company had a shift in future strategic priorities and as a result, a triggering event occurred which required the Company to impair the remaining goodwill balances for the Republic of Ireland and Northern Ireland reporting units, resulting in goodwill impairment charges of $2,383 and $1,203, respectively. With respect to its Republic of Ireland reporting unit, during the fourth quarter of fiscal 2022, the Company made a strategic decision to delay the launch of the Digital business in that country. As a result of this decision, a triggering event occurred which required the Company to perform an interim goodwill impairment analysis. In performing its discounted cash flow analysis, the Company determined that the carrying value of this reporting unit exceeded its fair value and, as a result, recorded an impairment charge of $2,023. The preponderance of this impairment was driven by a decrease in projected revenues and an increased weighted average cost of capital used in this interim impairment test as compared to the weighted average cost of capital used in the May 8, 2022 annual impairment test of its goodwill, reflecting market factors including higher interest rates and the trading values of the Company's equity and debt. Fourth Quarter Fiscal 2022 Indefinite-Lived Franchise Rights Acquired Interim Impairment Test During the quarter ended December 31, 2022, the Company identified various qualitative and quantitative factors which collectively indicated a triggering event had occurred. These factors included (i) actual business performance as compared to the assumptions used in its third quarter fiscal 2022 interim impairment test for the United States, Canada and New Zealand units of account and as compared to the assumptions used in its annual impairment test in the second quarter of fiscal 2022 for the United Kingdom and Australia units of account; and (ii) the further decline in the Company’s market capitalization and market factors, including the increase in interest rates. As a result of this triggering event, the Company performed an interim impairment test for all of its franchise rights acquired units of account in the fourth quarter of fiscal 2022. In performing the interim franchise rights acquired impairment test as of December 31, 2022, the Company determined that the carrying values of its United States, Canada, United Kingdom and Australia franchise rights acquired with indefinite-lived units of account exceeded their respective fair values. Accordingly, the Company recorded for its United States, Canada, United Kingdom and Australia units of account of $25,739, $19,657 (which comprised the remaining balance of franchise rights acquired for this unit of account), $8,275 and $1,872, respectively, in the fourth quarter of fiscal 2022. These impairments were driven by the increased weighted average cost of capital used in this interim impairment test as compared to the weighted average cost of capital used in the third quarter fiscal 2022 interim impairment test for the United States and Canada units of account and as compared the weighted average cost of capital used in the May 8, 2022 annual impairment test for the United Kingdom and Australia units of account, reflecting market factors including higher interest rates and the trading values of the Company's equity and debt. Additionally, these impairments were driven by the decline in the assumptions used in the hypothetical start-up approach and relief from royalty approach analyses as compared to the assumptions used in the third quarter fiscal 2022 interim impairment test for the United States and Canada units of account and as compared the assumptions used in the May 8, 2022 annual impairment test for the United Kingdom and Australia units of account. The carrying value of its New Zealand franchise rights acquired with indefinite-lived unit of account did not exceed its respective fair value and, therefore, no impairment existed with respect thereto. Third Quarter Fiscal 2022 Indefinite-Lived Franchise Rights Acquired Interim Impairment Test During the quarter ended October 1, 2022, the Company identified various qualitative and quantitative factors which collectively, when combined with the difference or lack thereof between the estimated fair value of the applicable unit of account and its carrying value for the United States, Canada and New Zealand units of account, indicated a triggering event had occurred within these units of account. These factors included actual business performance as compared to the assumptions used in its annual impairment test, the continued decline in the Company’s market capitalization and market factors, including the increase in interest rates. As a result of this triggering event, the Company performed an interim impairment test of these units of account. In performing the interim franchise rights acquired impairment test as of October 1, 2022, the Company determined that the carrying values of its United States, Canada and New Zealand franchise rights acquired with indefinite-lived units of account exceeded their respective fair values. Accordingly, the Company recorded for its United States, Canada and New Zealand units of account of $298,291, $13,312 and $1,138, respectively, in the third quarter of fiscal 2022. The preponderance of these impairments was driven by the increased weighted average cost of capital used in this interim impairment test as compared to the weighted average cost of capital used in the May 8, 2022 annual impairment test of its indefinite-lived franchise rights acquired, reflecting market factors including higher interest rates and the trading values of the Company's equity and debt. Kurbo Goodwill Impairment On August 10, 2018, the Company acquired substantially all of the assets of Kurbo Health, Inc., a family-based healthy lifestyle coaching program, for a net purchase price of $3,063, of which $1,101 was allocated to goodwill. The goodwill was deductible annually for tax purposes. The Company determined in the second quarter of fiscal 2022 to exit the business of its wholly-owned subsidiary Kurbo, Inc. (“Kurbo”) in the third quarter of fiscal 2022 as part of its strategic plan. As a result of this determination, the Company recorded an impairment charge of $1,101 in the second quarter of fiscal 2022, which comprised the entire goodwill balance for Kurbo. Finite-lived Intangible Assets The carrying values of finite-lived intangible assets as of December 28, 2024 and December 30, 2023 were as follows:
During the fourth quarter of fiscal 2023, the Company had a shift in future strategic priorities and as a result, a triggering event occurred which required the Company to impair the remaining franchise rights acquired balance for the Northern Ireland unit of account, resulting in a franchise rights acquired charge of $47. Aggregate amortization expense for finite-lived intangible assets was recorded in the amounts of $33,596, $42,449 and $33,676 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. Estimated amortization expense of existing finite-lived intangible assets for the next five fiscal years and thereafter is as follows:
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| Property and Equipment | 8. Property and Equipment The carrying values of property and equipment as of December 28, 2024 and December 30, 2023 were as follows:
Depreciation and amortization expense of property and equipment for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $4,188, $10,022 and $10,125, respectively. |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | 9. Long-Term Debt The components of the Company’s long-term debt were as follows:
(1) Includes amortization of deferred financing costs and debt discount.
In the second quarter of fiscal 2021, in connection with its refinancing of its then-existing credit facilities, the Company incurred approximately $1,000,000 in an aggregate principal amount of borrowings under its new credit facilities (as amended from time to time, the “Credit Facilities”) and issued $500,000 in aggregate principal amount of 4.500% Senior Secured Notes due 2029 (the “Senior Secured Notes”), each as described in further detail below. Credit Facilities The Credit Facilities were issued under a credit agreement, dated April 13, 2021 (as amended from time to time, the “Credit Agreement”), among the Company, as borrower, the lenders party thereto, and Bank of America, N.A. (“Bank of America”), as administrative agent and an issuing bank. The Credit Facilities consist of (1) $1,000,000 in aggregate principal amount of senior secured tranche B term loans due in 2028 (the “Term Loan Facility”) and (2) $175,000 in an aggregate principal amount of commitments under a senior secured revolving credit facility (which includes borrowing capacity available for letters of credit) due in 2026 (the “Revolving Credit Facility”). As of December 28, 2024, the Company had $945,000 in an aggregate principal amount of loans outstanding under the Credit Facilities, with $173,841 of availability and $1,159 in issued but undrawn letters of credit outstanding under the Revolving Credit Facility subject to its terms and conditions as discussed below. There were no outstanding borrowings under the Revolving Credit Facility as of December 28, 2024. All obligations under the Credit Agreement are guaranteed by, subject to certain exceptions, each of the Company’s current and future wholly-owned material domestic restricted subsidiaries. All obligations under the Credit Agreement, and the guarantees of those obligations, are secured by substantially all of the assets of the Company and each guarantor, subject to customary exceptions, including: • a pledge of 100% of the equity interests directly held by the Company and each guarantor in any wholly-owned material subsidiary of the Company or any guarantor (which pledge, in the case of any non-U.S. subsidiary of a U.S. subsidiary, will not include more than 65% of the voting stock of such first-tier non-U.S. subsidiary), subject to certain exceptions; and • a security interest in substantially all other tangible and intangible assets of the Company and each guarantor, subject to certain exceptions. The Credit Facilities require the Company to prepay outstanding term loans, subject to certain exceptions, with: • 50% (which percentage will be reduced to 25% and 0% if the Company attains certain first lien secured net leverage ratios) of the Company’s annual excess cash flow; • 100% of the net cash proceeds of certain non-ordinary course asset sales by the Company and its restricted subsidiaries (including casualty and condemnation events, subject to de minimis thresholds), and subject to the right to reinvest 100% of such proceeds, subject to certain qualifications; and • 100% of the net proceeds of any issuance or incurrence of debt by the Company or any of its restricted subsidiaries, other than certain debt permitted under the Credit Agreement. The foregoing mandatory prepayments will be used to reduce the installments of principal on the Term Loan Facility. The Company may voluntarily repay outstanding loans under the Credit Facilities at any time without penalty, except for customary “breakage” costs with respect to Term SOFR loans under the Credit Facilities. In June 2023, in connection with the planned phase-out of LIBOR, the Company amended its Credit Facilities to replace LIBOR with Term SOFR as the benchmark rate under the Credit Agreement, which is calculated to include a credit spread adjustment of 0.11448%, 0.26161%, 0.42826%, or 0.71513% for 1, 3, 6, or 12 months period, respectively, in addition to the Term SOFR Screen Rate (as defined in the Credit Agreement) and the margin (which was not amended). Borrowings under the Term Loan Facility bear interest at a rate per annum equal to, at the Company’s option, either (1) an applicable margin plus a base rate determined by reference to the highest of (a) 0.50% per annum plus the Federal Funds Effective Rate as determined by the Federal Reserve Bank of New York, (b) the prime rate of Bank of America and (c) the Term SOFR rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00%; provided that such rate is not lower than a floor of 1.50% or (2) an applicable margin plus a Term SOFR rate determined by reference to the cost of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, provided that Term SOFR is not lower than a floor of 0.50%. Borrowings under the Revolving Credit Facility bear interest at a rate per annum equal to an applicable margin based upon a leverage-based pricing grid, plus, at the Company’s option, either (1) a base rate determined by reference to the highest of (a) 0.50% per annum plus the Federal Funds Effective Rate as determined by the Federal Reserve Bank of New York, (b) the prime rate of Bank of America and (c) the Term SOFR rate determined by reference to the cost of funds for U.S. dollar deposits for an interest period of one month adjusted for certain additional costs, plus 1.00%; provided that such rate is not lower than a floor of 1.00% or (2) a Term SOFR rate determined by reference to the cost of funds for U.S. dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, provided such rate is not lower than a floor of zero. As of December 28, 2024, the applicable margins for the Term SOFR rate borrowings under the Term Loan Facility and the Revolving Credit Facility were 3.50% and 2.75%, respectively. On a quarterly basis, the Company pays a commitment fee to the lenders under the Revolving Credit Facility in respect of unutilized commitments thereunder, which commitment fee fluctuates depending upon the Company’s Consolidated First Lien Leverage Ratio (as defined in the Credit Agreement). The Credit Agreement contains other customary terms, including (1) representations, warranties and affirmative covenants, (2) negative covenants, including limitations on indebtedness, liens, mergers, acquisitions, asset sales, investments, distributions, prepayments of subordinated debt, amendments of material agreements governing subordinated indebtedness, changes to lines of business and transactions with affiliates, in each case subject to baskets, thresholds and other exceptions, and (3) customary events of default. The availability of certain baskets and the ability to enter into certain transactions are also subject to compliance with certain financial ratios. In addition, if the aggregate principal amount of extensions of credit (inclusive of outstanding letters of credit) under the Revolving Credit Facility as of any fiscal quarter end exceeds 35%, or $61,250, of the aggregate revolving commitments, the Company is required to be in compliance with a Consolidated First Lien Leverage Ratio of 5.25:1.00 through and including the first fiscal quarter of 2025 and 5.00:1.00 thereafter. The Company’s Consolidated First Lien Leverage Ratio as of December 28, 2024 was 8.36:1.00. If the Company has more than $61,250 outstanding under the Revolving Credit Facility and is not in compliance with the specified leverage ratio at the required time, it would be in default under the Revolving Credit Facility. Senior Secured Notes The Senior Secured Notes were issued pursuant to an Indenture, dated as of April 13, 2021 (as amended, supplemented or modified from time to time, the “Indenture”), among the Company, the guarantors named therein and The Bank of New York Mellon, as trustee and notes collateral agent. The Indenture contains customary terms, events of default and covenants for an issuer of non-investment grade debt securities. These covenants include limitations on indebtedness, liens, mergers, acquisitions, asset sales, investments, distributions, prepayments of subordinated debt and transactions with affiliates, in each case subject to baskets, thresholds and other exceptions. The Senior Secured Notes accrue interest at a rate per annum equal to 4.500% and will mature on April 15, 2029. Interest on the Senior Secured Notes is payable semi-annually on April 15 and October 15 of each year. Commencing April 15, 2024, the Company may on any one or more occasions redeem some or all of the Senior Secured Notes at a purchase price equal to 102.250% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date, such optional redemption price decreasing to 101.125% on or after April 15, 2025 and to 100.000% on or after April 15, 2026. If a change of control occurs, the Company must offer to purchase for cash the Senior Secured Notes at a purchase price equal to 101% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but not including, the purchase date. Following the sale of certain assets and subject to certain conditions, the Company must offer to purchase for cash the Senior Secured Notes at a purchase price equal to 100% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but not including, the purchase date. The Senior Secured Notes are guaranteed on a senior secured basis by the Company’s subsidiaries that guarantee the Credit Facilities. The Senior Secured Notes and the note guarantees are secured by a first-priority lien on all the collateral that secures the Credit Facilities, subject to a shared lien of equal priority with the Company’s and each guarantor’s obligations under the Credit Facilities and subject to certain thresholds, exceptions and permitted liens. Outstanding Debt At December 28, 2024, the Company had $1,445,000 outstanding under the Credit Facilities and the Senior Secured Notes, consisting of borrowings under the Term Loan Facility of $945,000, $0 drawn down on the Revolving Credit Facility and $500,000 in aggregate principal amount of Senior Secured Notes issued and outstanding. At December 28, 2024 and December 30, 2023, the Company’s debt consisted of both fixed and variable-rate instruments. The Company has historically entered into interest rate swaps to hedge a portion of the cash flow exposure associated with the Company’s variable-rate borrowings. At December 28, 2024, the Company did not have any interest rate swaps in effect. See Note 19 for further information on the Company’s use of interest rate swaps. The weighted average interest rate (which includes amortization of deferred financing costs and debt discount) on the Company’s outstanding debt, exclusive of the impact of any applicable interest rate swaps, was approximately 7.75% and 7.64% per annum at December 28, 2024 and December 30, 2023, respectively, based on interest rates on these dates. The weighted average interest rate (which includes amortization of deferred financing costs and debt discount) on the Company’s outstanding debt, including the impact of any applicable interest rate swaps, was approximately 7.47% and 6.53% per annum at December 28, 2024 and December 30, 2023, respectively, based on interest rates on these dates. Maturities At December 28, 2024, the aggregate amounts of the Company’s existing long-term debt maturing in each of the next five fiscal years and thereafter are as follows:
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Treasury Stock |
12 Months Ended |
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Dec. 28, 2024 | |
| Class of Stock Disclosures [Abstract] | |
| Treasury Stock | 10. Treasury Stock On October 9, 2003, the Company’s Board of Directors authorized, and the Company announced, a program to repurchase up to $250,000 of the Company’s outstanding common stock. On each of June 13, 2005, May 25, 2006 and October 21, 2010, the Company’s Board of Directors authorized, and the Company announced, the addition of $250,000 to the program. The repurchase program allows for shares to be purchased from time to time in the open market or through privately negotiated transactions. The repurchase program currently has no expiration date. During the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the Company repurchased no shares of its common stock under this program. As of the end of fiscal 2024, $208,933 remained available to purchase shares of the Company’s common stock under the repurchase program. |
Per Share Data |
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| Per Share Data | 11. Per Share Data Basic net loss per share is calculated utilizing the weighted average number of common shares outstanding during the periods presented. Diluted net loss per share is calculated utilizing the weighted average number of common shares outstanding during the periods presented adjusted for the effect of dilutive common stock equivalents. The following table sets forth the computation of basic and diluted net loss per share:
The number of anti-dilutive common stock equivalents excluded from the calculation of the weighted average number of common shares for diluted net loss per share was 9,572, 9,113 and 8,540 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. |
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| Stock Plans | 12. Stock Plans Incentive Compensation Plans On May 6, 2008, the Company’s shareholders approved the 2008 Stock Incentive Plan (the “2008 Plan”). On May 6, 2014, the Company’s shareholders approved the 2014 Stock Incentive Plan (as amended and restated, the “2014 Plan”, and together with the 2008 Plan, the “Stock Plans”), which replaced the 2008 Plan for all equity-based awards granted on or after May 6, 2014. The 2014 Plan is designed to promote the long-term financial interests and growth of the Company by attracting, motivating and retaining employees with the ability to contribute to the success of the business and to align compensation for the Company’s employees over a multi-year period directly with the interests of the shareholders of the Company. The Company’s long-term equity incentive compensation program has historically included time-vesting non-qualified stock option and/or restricted stock unit (“RSUs”) (including performance-based stock unit with both time- and performance-vesting criteria (“PSUs”)) awards. From time to time, the Company has granted fully-vested shares of its common stock to individuals in connection with special circumstances. The Company’s Board of Directors or a committee thereof administers the 2014 Plan. Under the 2014 Plan, grants may take the following forms at the Company’s Board of Directors’ Compensation and Benefits Committee’s (the “Compensation Committee”) discretion: non-qualified stock options, incentive stock options, stock appreciation rights, RSUs, restricted stock and other stock-based awards. As of December 28, 2024, the maximum number of shares of common stock available for grant under the 2014 Plan was 12,500, subject to increase and adjustment as set forth in the 2014 Plan. Under the 2014 Plan, the Company also grants fully-vested shares of its common stock to certain members of its Board of Directors. While these shares are fully vested, the directors are restricted from selling these shares while they are still serving on the Company’s Board of Directors subject to limited exceptions. During the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the Company granted to members of the Company’s Board of Directors an aggregate of 53, 70 and 77 fully-vested shares, respectively, and recognized compensation expense of $181, $404 and $624, respectively. Commencing during the fiscal year ended December 31, 2022, the above-referenced members of the Company’s Board of Directors could elect to defer receipt of such grants of fully vested shares of the Company’s common stock with respect to their service on the Company’s Board of Directors. Certain members of the Company’s Board of Directors made such an election such that for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the Company granted to those members of its Board of Directors an aggregate of 89, 54 and 27 deferred stock units, respectively, and recognized compensation expense of $809, $373 and $174, respectively. These deferred stock units will be settled on the date of separation from service from the Company's Board of Directors of the applicable member of the Company’s Board of Directors or earlier based on his or her election or upon a change in control of the Company. During the fiscal years ended December 28, 2024 and December 30, 2023, an aggregate of 0 and 23 deferred stock units were settled, respectively. The Company issues common stock for share-based compensation awards from treasury stock. The total compensation cost that has been charged against income for share-based compensation awards was $7,583, $10,715 and $12,333 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. The total income tax benefit recognized in the Company’s consolidated statements of operations for all share-based compensation awards was $1,197, $1,850 and $2,603 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. The tax benefits realized from options exercised and RSUs and PSUs vested totaled $658, $1,287 and $1,017 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. No compensation costs were capitalized. As of December 28, 2024, there was $6,569 of total unrecognized compensation cost related to stock options and RSUs granted under the Stock Plans. That cost is expected to be recognized over a weighted average period of approximately 1.2 years. Additionally, during the fiscal year ended December 30, 2023, the Company charged $3,882 of compensation costs against income for share-based compensation expense attributable to post combination vesting in relation to the Sequence acquisition. See Note 6 for additional information on the Company’s acquisitions. Such amounts have been included as a component of selling, general and administrative expenses. Stock Option Awards with Time-Vesting Criteria Stock options with time-vesting criteria (“Time-Vesting Options”) are exercisable based on the terms and conditions outlined in the applicable award agreement. Time-Vesting Options outstanding at December 28, 2024, December 30, 2023 and December 31, 2022 vest over a period of to four years and the expiration term is to ten years. Time-Vesting Options outstanding at December 28, 2024, December 30, 2023 and December 31, 2022 have an exercise price between $5.25 and $50.00 per share. The fair value of each of these option awards is estimated on the date of grant using the Black-Scholes option pricing model with the weighted average assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s common stock. The expected term takes into consideration option exercise history. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the expected term of the Time-Vesting Options. The dividend yield is based on the Company’s historic average dividend yield. The Company did not grant any Time-Vesting Options for the fiscal years ended December 28, 2024 and December 30, 2023.
Option Activity A summary of all option activity for the fiscal year ended December 28, 2024 is presented below.
The weighted average grant date fair value of all options granted was $3.96 for the fiscal year ended December 31, 2022. The total intrinsic value of all options exercised was $0, $248 and $0 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. Cash received from Time-Vesting Options exercised during the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $0, $718 and $0, respectively. Restricted Stock Unit Awards with Time-Vesting Criteria RSUs are exercisable based on the terms outlined in the applicable award agreement. The RSUs generally vest over a period of to three years. The fair value of RSUs is determined using the closing market price of the Company’s common stock on the date of grant. A summary of RSU activity under the Stock Plans for the fiscal year ended December 28, 2024 is presented below.
The weighted average grant date fair value of RSUs granted was $1.32, $7.43 and $6.69 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. The total fair value of RSUs vested during the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $8,692, $7,943 and $14,576, respectively. Performance-Based Stock Unit Awards with Time- and Performance-Vesting Criteria In fiscal 2024, the Company granted 598 PSUs having both time- and performance-vesting criteria. The time-vesting criteria for these PSUs will be satisfied upon continued employment (with limited exceptions) on the third anniversary of the grant date. The performance-vesting criteria for these PSUs will be based on a relative total shareholder return performance goal, measuring the Company’s stock price performance against the performance of the Russell 2000 Index from the start of fiscal 2024 through the end of fiscal 2026. The Company estimated the fair value of the PSUs granted in fiscal 2024 to be $1.86. The Company estimated this fair value using a Monte Carlo simulation that used various assumptions that included expected volatility of 97.8%, a risk-free rate of 4.59%, an expected term of 3.0 years and a dividend yield of 0.00%. Expected volatility was based on the historical volatility of the Company’s stock. The risk-free interest rate was based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the performance measurement period. The expected term represents the three-year performance measurement period. Compensation expense is recognized ratably over the three-year required service period. In fiscal 2023, the Company granted 239 PSUs having both time- and performance-vesting criteria. The time-vesting criteria for these PSUs will be satisfied upon continued employment (with limited exceptions) on the third anniversary of the grant date. The performance-vesting criteria for these PSUs will be based on a relative total shareholder return performance goal, measuring the Company’s stock price performance against the performance of the Russell 2000 Index from the start of fiscal 2023 through the end of fiscal 2025. The Company estimated the fair value of the PSUs granted in fiscal 2023 to be $13.80. The Company estimated this fair value using a Monte Carlo simulation that used various assumptions that included expected volatility of 86.2%, a risk-free rate of 3.79%, an expected term of 3.0 years and a dividend yield of 0.00%. Expected volatility was based on the historical volatility of the Company’s stock. The risk-free interest rate was based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the performance measurement period. The expected term represents the three-year performance measurement period. Compensation expense is recognized ratably over the three-year required service period. In fiscal 2019, the Company granted 280 PSUs having both time- and performance-vesting criteria. The time-vesting criteria for these PSUs was satisfied upon continued employment (with limited exceptions) on the third anniversary of the grant date. The performance-vesting criteria for these PSUs was not satisfied and 0 PSUs became vested in fiscal 2022 upon the satisfaction of the time-vesting criteria. The Company accrued compensation expense in an amount equal to the outcome upon vesting. A summary of PSU activity for the fiscal year ended December 28, 2024 is presented below.
The weighted average grant date fair value of PSUs granted was $1.86 and $13.80 during the fiscal years ended December 28, 2024 and December 30, 2023, respectively. There were no PSUs vested during the fiscal years ended December 28, 2024 and December 30, 2023. There were no PSUs granted or vested during the fiscal year ended December 31, 2022. |
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| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes | 13. Taxes Income Taxes The components of the Company’s consolidated loss before income taxes consist of the following:
The following table summarizes the Company’s consolidated provision for (benefit from) U.S. federal, state and foreign income taxes:
The effective tax rates for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were (0.2%), (52.5%) and 30.0%, respectively. The Company’s effective tax rate for the fiscal year ended December 28, 2024 was impacted by the following items: (i) a $87,624 tax expense due to a valuation allowance and (ii) a $5,342 tax expense related to share-based awards. These expenses were partially offset by (i) a $15,689 tax benefit related to state tax and (ii) a $3,976 tax benefit related to foreign-derived intangible income (“FDII”). The Company’s effective tax rate for the fiscal year ended December 30, 2023 was impacted by the following items: (i) a $53,626 tax expense due to a valuation allowance and (ii) a $12,172 tax expense related to income earned in foreign jurisdictions at rates higher than the U.S. These expenses were partially offset by (i) a $9,441 tax benefit related to state tax and (ii) a $2,637 tax benefit related to FDII. The Company’s effective tax rate for the fiscal year ended December 31, 2022 was impacted by the following items: (i) a $45,748 tax benefit from a legal entity restructuring in connection with the Organizational Realignment (as defined below), which resulted in a reversal of certain deferred tax liabilities, and (ii) a $4,450 tax benefit related to FDII. These benefits were partially offset by (i) a $27,108 tax expense from a valuation allowance established to offset certain deferred tax assets due to the uncertainty of realizing future tax benefits from its interest expense carryforwards, (ii) a $2,245 tax expense related to income earned in foreign jurisdictions at rates higher than the U.S., and (iii) a $1,732 tax expense related to share-based awards.
The deferred tax assets and liabilities recorded on the Company’s consolidated balance sheets are as follows:
As of December 28, 2024 and December 30, 2023, the Company had primarily foreign and state net operating loss carryforwards of approximately $110,471 and $107,415, respectively, some of which have an unlimited carryforward period, while others expire in various years beginning in fiscal 2025. The Company maintains a full valuation allowance on its state and certain foreign net operating loss carryforwards as it is deemed more likely than not that such losses will not be realized. In fiscal 2022, the Company established a $27,108 valuation allowance on its business interest expense carryforwards. In fiscal 2023, the Company increased the valuation allowance on its business interest expense carryforwards by $20,268 and established a $30,331 valuation allowance on its remaining U.S. deferred tax assets. As of December 28, 2024, the Company recorded an additional $88,650 valuation allowance on its U.S. deferred tax assets. The Company does not assert its $114,545 of undistributed foreign earnings as of December 28, 2024 are permanently reinvested. The Company has considered whether there would be any potential future costs of not asserting indefinite reinvestment and does not expect such costs to be significant. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
At December 28, 2024, the total amount of unrecognized tax benefits that, if recognized, would affect the Company’s effective tax rate is $424. The Company files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. At December 28, 2024, with few exceptions, the Company was no longer subject to U.S. federal, state or local income tax examinations by tax authorities for fiscal years prior to fiscal 2020, or non-U.S. income tax examinations by tax authorities for fiscal years prior to fiscal 2017. The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. The Company had $33 and $83 of accrued interest and penalties at December 28, 2024 and December 30, 2023, respectively. The Company recognized $(50), $0 and $(60) of income tax expense in interest and penalties during the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively. It is reasonably possible that within the next twelve months the Company’s unrecognized tax benefits could change due to the resolution of open tax matters, which would reduce unrecognized tax benefits by $120. Non-Income Tax Matters The Internal Revenue Service (the “IRS”) notified the Company of certain penalties assessed related to the annual disclosure and reporting requirements of the Affordable Care Act. The Company appealed this determination, and in the third quarter of fiscal 2024, the penalties were fully abated and the federal tax lien maintained by the IRS during the appeals process was lifted. |
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Employee Benefit Plans |
12 Months Ended |
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Dec. 28, 2024 | |
| Retirement Benefits [Abstract] | |
| Employee Benefit Plans | 14. Employee Benefit Plans The Company sponsors the WW Savings Plan (the “Savings Plan”) for salaried and certain hourly U.S. employees of the Company. The Savings Plan is a defined contribution plan that provides for employer matching contributions of 50% of the employee’s tax deferred contributions up to 6% of an employee’s eligible compensation for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022. Expense related to these contributions for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $2,462, $3,227 and $2,564, respectively. The Company received a favorable determination letter from the IRS that qualifies the Savings Plan under Section 401(a) of the Internal Revenue Code. Pursuant to the Savings Plan, the Company also made profit sharing contributions for all full-time salaried U.S. employees who were eligible to participate in the Savings Plan (except for certain personnel above a determined compensation level). The profit sharing contribution was a guaranteed monthly employer contribution on behalf of each participant based on the participant’s age and a percentage of the participant’s eligible compensation. The Savings Plan also had a discretionary supplemental profit sharing employer contribution component that was determined annually by the Compensation Committee. Effective as of March 6, 2022, the Company suspended profit sharing contributions. Expense related to these contributions for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $0, $0 and $179, respectively. For certain U.S. personnel above a determined compensation level, the Company sponsors the Second Amended and Restated Weight Watchers Executive Profit Sharing Plan (“EPSP”). Under the IRS definition, the EPSP is considered a Nonqualified Deferred Compensation Plan. There is a promise of payment by the Company made on the employees’ behalf instead of an individual account with a cash balance. The EPSP provided for a guaranteed employer contribution on behalf of each participant based on the participant’s age and a percentage of the participant’s eligible compensation. The EPSP also had a discretionary supplemental employer contribution component that was determined annually by the Compensation Committee. Effective as of March 6, 2022, the Company suspended EPSP contributions. Although the Company suspended EPSP contributions, EPSP balances continue to accrue interest. The EPSP is valued at the end of each fiscal month, based on an annualized interest rate of prime plus 2%, with an annualized cap of 15%. Expense related to this commitment for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $631, $1,005 and $929, respectively. |
Cash Flow Information |
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| Supplemental Cash Flow Elements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Flow Information | 15. Cash Flow Information
(1) Fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 include tax refunds received of $15,421, $7,054 and $5,109, respectively.
See Note 4 for disclosures on supplemental cash flow information related to leases. The following table presents the Company’s cash and cash equivalents and restricted cash by balance sheet location at December 28, 2024 and December 30, 2023:
The Company’s restricted cash as of December 28, 2024 consists solely of cash held in an escrow account in connection with a foreign entity’s restructuring payments. |
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Commitments and Contingencies |
12 Months Ended |
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Dec. 28, 2024 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 16. Commitments and Contingencies Litigation Matters Due to the nature of the Company’s activities, it is, at times, subject to pending and threatened legal actions that arise out of the ordinary course of business. In the opinion of management, the disposition of any such matters is not expected, individually or in the aggregate, to have a material adverse effect on the Company’s results of operations, financial condition or cash flows. However, the results of legal actions cannot be predicted with certainty. Therefore, it is possible that the Company’s results of operations, financial condition or cash flows could be materially adversely affected in any particular period by the unfavorable resolution of one or more legal actions. Commitments Minimum commitments under non-cancelable purchase obligations at December 28, 2024 were $13,726, of which $9,483 is due in fiscal 2025, $1,981 is due in fiscal 2026, $1,696 is due in fiscal 2027, and the remaining $566 is due in fiscal 2028. See Note 4 for disclosures related to minimum commitments under lease obligations for the Company’s studios and corporate offices. |
Segment and Geographic Data |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment and Geographic Data | 17. Segment and Geographic Data As previously disclosed, effective the first day of fiscal 2024 (i.e., December 31, 2023), as a result of the continued evolution of the Company’s centralized organizational structure in fiscal 2023, and management’s 2024 strategic planning process, the Company’s reportable segments changed to one segment for the purpose of making operational and resource decisions and assessing financial performance. The Company operates as one operating segment. The Company's chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated operating income and net income to assess financial performance and allocate resources. Significant expenses within operating income, as well as within net income, include cost of revenues, marketing expenses, and selling, general and administrative expenses, which are each separately presented on the Company’s Consolidated Statements of Operations. Other segment items within net income include interest expense, other (income) expense, net, and provision for (benefit from) income taxes. The following tables present information about the Company’s revenue and other information by geographic area. There were no material amounts of sales or transfers among geographic areas and no material amounts of U.S. export sales.
(1) Amounts include finance lease assets
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Fair Value Measurements |
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | 18. Fair Value Measurements Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. When measuring fair value, the Company is required to maximize the use of observable inputs and minimize the use of unobservable inputs. Fair Value of Financial Instruments The Company’s significant financial instruments include long-term debt agreements as of December 28, 2024. The Company’s significant financial instruments included long-term debt and interest rate swap agreements as of December 30, 2023. Since there were no outstanding borrowings under the Revolving Credit Facility as of December 28, 2024 and December 30, 2023, the fair value approximated a carrying value of $0 at both December 28, 2024 and December 30, 2023. The fair value of the Company’s Credit Facilities is determined by utilizing average bid prices on or near the end of each fiscal quarter (Level 2 input). As of December 28, 2024 and December 30, 2023, the fair value of the Company’s long-term debt was approximately $320,174 and $996,429, respectively, as compared to the carrying value (net of deferred financing costs and debt discount) of $1,430,643 and $1,426,464, respectively. Derivative Financial Instruments The fair values for the Company’s derivative financial instruments were determined using observable current market information such as the prevailing Term SOFR interest rate and Term SOFR yield curve rates and included consideration of counterparty credit risk. See Note 19 for disclosures related to the Company’s use of derivative financial instruments. The following table presents the aggregate fair value of the Company’s derivative financial instruments:
The Company did not have any transfers into or out of Levels 1 and 2 and did not maintain any assets or liabilities classified as Level 3 during the fiscal years ended December 28, 2024 and December 30, 2023. |
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Derivative Instruments and Hedging |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging | 19. Derivative Instruments and Hedging In June 2023, the Company amended the terms of its then-effective interest rate swap agreements to implement a forward-looking interest rate based on Term SOFR in place of LIBOR. Since the interest rate swap agreements were affected by reference rate reform, the Company applied the expedients and exceptions provided to preserve the past presentation of its derivatives without de-designating the existing hedging relationships. All amendments to interest rate swap agreements were executed with the existing counterparties and did not change the notional amounts, maturity dates, or other critical terms of the hedging relationships. As of December 28, 2024, due to the termination of the interest rate swaps on March 31, 2024 as discussed below, the Company did not have any interest rate swaps in effect. As of December 30, 2023, the Company had in effect interest rate swaps with an aggregate notional amount totaling $500,000. On June 11, 2018, in order to hedge a portion of its variable rate debt, the Company entered into a forward-starting interest rate swap (the “2018 swap”) with an effective date of April 2, 2020 and a termination date of March 31, 2024. The initial notional amount of this swap was $500,000. During the term of this swap, the notional amount decreased from $500,000 effective April 2, 2020 to $250,000 on March 31, 2021. Following the transition from LIBOR to Term SOFR, this interest rate swap effectively fixed the variable interest rate on the notional amount of this swap at 3.1513%. On June 7, 2019, in order to hedge a portion of its variable rate debt, the Company entered into a forward-starting interest rate swap (the “2019 swap”, and together with the 2018 swap, the “interest rate swaps”) with an effective date of April 2, 2020 and a termination date of March 31, 2024. The notional amount of this swap was $250,000. Following the transition from LIBOR to Term SOFR, this interest rate swap effectively fixed the variable interest rate on the notional amount of this swap at 1.9645%. The interest rate swaps qualified for hedge accounting and, therefore, changes in the fair value of the interest rate swaps were recorded in accumulated other comprehensive loss. As of December 28, 2024, there was no cumulative unrealized gain for qualifying hedges reported as a component of accumulated other comprehensive loss. As of December 30, 2023, the cumulative unrealized gain for qualifying hedges was reported as a component of accumulated other comprehensive loss in the amount of $2,716 ($3,474 before taxes). The following table presents the aggregate fair value of the Company’s derivative financial instruments by balance sheet classification and location:
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Accumulated Other Comprehensive Loss |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | 20. Accumulated Other Comprehensive Loss Amounts reclassified out of accumulated other comprehensive loss were as follows: Changes in Accumulated Other Comprehensive Loss by Component (1)
(1) Amounts in parentheses indicate debits (2) See separate table below for details about these reclassifications
(1) Amounts in parentheses indicate debits (2) See separate table below for details about these reclassifications
(1) Amounts in parentheses indicate debits (2) See separate table below for details about these reclassifications
Reclassifications out of Accumulated Other Comprehensive Loss (1)
(1) Amounts in parentheses indicate debits to profit/loss |
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Recently Issued Accounting Pronouncements |
12 Months Ended |
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Dec. 28, 2024 | |
| Accounting Changes and Error Corrections [Abstract] | |
| Accounting Standards Adopted in Current Year and Recently Issued Accounting Pronouncements | 3. Accounting Standards Adopted in Current Year In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, ASU 2023-07 enhances interim disclosure requirements, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, provides new segment disclosure requirements for entities with a single reportable segment and contains other disclosure requirements. The effective date of the new guidance for public companies is for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. In the fourth quarter of fiscal 2024, the Company adopted and applied the new guidance retrospectively to all prior periods presented in the financial statements. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. 21. Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. ASU 2023-09 also improves the effectiveness and comparability of income tax disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) and (2) removing disclosures that no longer are considered cost beneficial or relevant. The effective date of the new guidance for public companies is for annual periods beginning after December 15, 2024. Early adoption is permitted. The new guidance should be applied prospectively, although retrospective application is permitted. The Company is currently evaluating the impact that ASU 2023-09 will have on its consolidated financial statements and related disclosures, including the adoption date and transition method. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures”, which requires the disaggregation of certain expenses in the notes to the financial statements to provide enhanced transparency into the expense captions presented on the face of the income statement. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. Under ASU 2024-03, a public entity would be required to disclose information about purchases of inventory, employee compensation, depreciation, intangible asset amortization, and depletion for each income statement line item that contains those expenses, as well as a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 also requires disclosure of the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. This guidance is effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027, and may be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact that ASU 2024-03 will have on its consolidated financial statements and related disclosures, including the adoption date and transition method. The Company has determined that other recently issued accounting pronouncements are not expected to have a material impact on its consolidated financial statements. |
Related Party |
12 Months Ended |
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Dec. 28, 2024 | |
| Related Party Transactions [Abstract] | |
| Related Party | 22. Related Party As previously disclosed, on October 18, 2015, the Company entered into the Strategic Collaboration Agreement with Oprah Winfrey, under which she consulted with the Company and participated in developing, planning, executing and enhancing the WW program and related initiatives, and provided it with services in her discretion to promote the Company and its programs, products and services for an initial term of five years (the “Initial Term”). As previously disclosed, on December 15, 2019, the Company entered into an amendment of the Strategic Collaboration Agreement with Ms. Winfrey, pursuant to which, among other things, the Initial Term of the Strategic Collaboration Agreement was extended until April 17, 2023 (with no additional successive renewal terms), after which a second term commenced that will continue through the earlier of the date of the Company’s 2025 annual meeting of shareholders or May 31, 2025. Ms. Winfrey will continue to provide certain consulting and other services to the Company during the second term. In addition to the Strategic Collaboration Agreement, Ms. Winfrey and her related entities provided services to the Company totaling $292, $574 and $861 for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively, which services included advertising, production and related fees. The Company’s accounts payable to parties related to Ms. Winfrey at December 28, 2024 and December 30, 2023 was $13 and $0, respectively. |
Restructuring |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | 23. Restructuring 2024 Plan As previously disclosed, in the third quarter of fiscal 2024, in connection with the strategic streamlining of its operational structure to optimize its clinical and behavioral product portfolio and its cost-savings initiative, the Company committed to a plan of reduction in force that has resulted and will further result in the elimination of certain positions and the termination of employment for certain employees worldwide (the “2024 Plan”). Refer to the tables below for the total restructuring charges under the 2024 Plan recorded for the fiscal year ended December 28, 2024. The cumulative amount incurred as of December 28, 2024 related to the aggregate 2024 Plan is $17,043. The Company expects the 2024 Plan to be fully executed by the end of fiscal 2025. For the fiscal year ended December 28, 2024, the components of the Company’s restructuring charges for the 2024 Plan were as follows:
For the fiscal year ended December 28, 2024, restructuring charges for the 2024 Plan were recorded in the Company’s consolidated statements of operations as follows:
All expenses were recorded to general corporate expenses. The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
As of December 28, 2024, the Company expects the remaining employee termination benefit liability to be paid in full by the end of fiscal 2027. 2023 Plan As previously disclosed, in the fourth quarter of fiscal 2022, management reviewed the then-current global business operations of the Company as well as the different functions and systems supporting those operations and contrasted them with the Company's strategic priorities and requirements for fiscal 2023 and beyond. Based on that review, in December 2022, the Company's management resolved to centralize its global management of certain functions and systems, deprioritize and in some cases cease operations for certain non-strategic business lines, and continue the rationalization of its real estate portfolio to align with its future needs. Throughout December 2022 and January 2023, management developed and continued refining a detailed plan to achieve these goals. The Company committed to a restructuring plan consisting of (i) an organizational restructuring and rationalization of certain functions and systems to centralize the Company’s management, align resources with strategic business lines and reduce costs associated with certain functions and systems (the “Organizational Restructuring”) and (ii) the continued rationalization of its real estate portfolio and resulting operating lease termination charges and the associated employment termination costs (the “Real Estate Restructuring,” and together with the Organizational Restructuring, the “2023 Plan”). Refer to the tables below for the total restructuring charges under the 2023 Plan recorded for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022. The cumulative amount incurred as of December 28, 2024 related to the aggregate 2023 Plan is $72,473. The Organizational Restructuring has resulted and will further result in the elimination of certain positions and the termination of employment for certain employees worldwide. Refer to the tables below for the employee termination benefit costs related to the Organizational Restructuring under the 2023 Plan recorded for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022. The cumulative amount incurred as of December 28, 2024 for the aggregate employee termination benefit costs related to the Organizational Restructuring under the 2023 Plan is $40,950. Refer to the tables below for the lease termination costs and employee termination benefit costs related to the Real Estate Restructuring under the 2023 Plan recorded for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, as applicable. The cumulative amount incurred as of December 28, 2024 for the aggregate lease termination costs and employee termination benefit costs related to the Real Estate Restructuring under the 2023 Plan is $12,789 and $9,914, respectively. Refer to the tables below for the other cash restructuring charges and other non-cash restructuring charges under the 2023 Plan recorded for the fiscal years ended December 28, 2024 and December 30, 2023. The cumulative amount incurred as of December 28, 2024 for the aggregate other cash restructuring charges and total non-cash restructuring charges under the 2023 Plan is $2,158 and $6,662, respectively. For the fiscal year ended December 28, 2024, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 28, 2024, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 30, 2023, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 30, 2023, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 31, 2022, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 31, 2022, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
All expenses were recorded to general corporate expenses. The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
As of December 28, 2024, the Company expects the remaining employee termination benefit liability related to the Real Estate Restructuring and the remaining employee termination benefit liability related to the Organizational Restructuring to be paid in full by the end of fiscal 2026. 2022 Plan As previously disclosed, in the second quarter of fiscal 2022, the Company committed to a restructuring plan consisting of (i) an organizational realignment to simplify the Company’s corporate structure and reduce associated costs (the “Organizational Realignment”) and (ii) a continued rationalization of its real estate portfolio resulting in the termination of certain of the Company’s operating leases (together with the Organizational Realignment, the “2022 Plan”). The Organizational Realignment has resulted in the elimination of certain positions and termination of employment for certain employees worldwide. Refer to the tables below for the total restructuring charges under the 2022 Plan recorded for the fiscal year ended December 31, 2022. The cumulative amount incurred as of December 28, 2024 related to the aggregate 2022 Plan is $28,324. For the fiscal year ended December 31, 2022, the components of the Company’s restructuring charges for the 2022 Plan were as follows:
See Note 4 for additional information in regard to the Company's lease impairments for the fiscal year ended December 31, 2022. For the fiscal year ended December 31, 2022, restructuring charges for the 2022 Plan were recorded in the Company’s consolidated statements of operations as follows:
All expenses were recorded to general corporate expenses. The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
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Subsequent Event |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | 24. Subsequent Event On January 2, 2025 and January 31, 2025, the Company borrowed approximately $50,000 and $121,341, respectively, under the Revolving Credit Facility. These borrowings under the Revolving Credit Facility were incurred to provide financial flexibility. As of February 28, 2025, the aggregate principal amount of borrowings under the Revolving Credit Facility was $175,000, including approximately $3,659 of undrawn letters of credit under the Revolving Credit Facility, which represents the full amount available under the Revolving Credit Facility. On February 26, 2025, in connection with the Board’s appointment of Tara Comonte as permanent President and Chief Executive Officer of the Company, the Board approved entry into an employment agreement (the “Employment Agreement”) with Ms. Comonte. Pursuant to the Employment Agreement, Ms. Comonte will receive a cash award of $4,500 payable as soon as practicable following entry into the Employment Agreement. This award is in lieu of any annual cash bonus with respect to fiscal 2025 or any long-term incentive award in 2025. The award is subject to repayment by Ms. Comonte if prior to the earlier of (i) January 31, 2026 and (ii) 60 days following the consummation of a Change in Control, she is terminated by the Company for Cause, she resigns other than for Modified Good Reason prior to a Change in Control or she resigns other than for Good Reason following a Change in Control (as such terms are defined in the Employment Agreement). If, during the term of the Employment Agreement, Ms. Comonte’s employment is terminated (i) by the Company without Cause, (ii) due to a resignation for Modified Good Reason prior to a Change in Control or (iii) due to a resignation for Good Reason following a Change in Control, subject to her execution of a release and compliance with the restrictive covenants to which she is subject she will not be subject to repayment of the award described above. |
VALUATION AND QUALIFYING ACCOUNTS AND RESERVES |
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| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| VALUATION AND QUALIFYING ACCOUNTS AND RESERVES | SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (IN THOUSANDS)
(1)
Primarily represents the utilization of established reserves, net of recoveries, where applicable. |
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Summary of Significant Accounting Policies (Policies) |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Accounting Policies [Abstract] | |
| Fiscal Year | Fiscal Year The Company’s fiscal year ends on the Saturday closest to December 31st and consists of either 52 or 53-week periods. Fiscal 2024, fiscal 2023 and fiscal 2022 each contained 52 weeks. |
| Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with GAAP, requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and judgments, including those related to the impairment analyses for goodwill and other indefinite-lived intangible assets, revenue, share-based compensation, income taxes, tax contingencies and litigation. The Company bases its estimates on historical experience and on various other factors and assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. While all available information has been considered, actual amounts could differ from these estimates. These estimates and assumptions may change as new events occur and additional information is obtained, and such future changes may have an adverse impact on the Company's results of operations, financial position and liquidity. |
| Variable Interest Entity | Variable Interest Entity The Company evaluates its ownership, contractual and other interests in entities to determine if it has any variable interest in a variable interest entity (“VIE”). These evaluations are complex and involve judgment and the use of estimates and assumptions based on available information. If the Company determines that an entity in which it holds a contractual or ownership interest is a VIE and that the Company is the primary beneficiary, such entity is consolidated in the Company’s consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. The Company performs ongoing reassessments of whether changes in the facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Through WeightWatchers Clinic, the Company operates certain clinical telehealth groups which are deemed to be Friendly-Physician Entities (“FPEs”) and due to legal requirements, the physician-owners must retain 100% of the equity interest. The Company’s agreements with FPEs generally consist of both an Administrative Services Agreement, which provides for various administrative and management services to be provided by the Company to the FPE, and Share Transfer Agreement (“STA”) with the physician-owners of the FPEs, which provides for the transition of ownership interest of the FPEs under certain conditions. The Company has the right to receive income as an ongoing management fee, which effectively absorbs all of the residual interests, and can also provide financial support through loans to the FPEs. The Company has exclusive responsibility for the provision of all nonmedical services including technology and intellectual property required for the day-to-day operation and management of each of the FPEs. In addition, the STA provides that the Company has the right to designate a person(s) to purchase the equity interest of the FPE for a nominal amount in the event of a succession event at the Company’s discretion. Based on the provisions of these agreements, the Company determined that the FPEs are VIEs due to their equity holder having insufficient capital at risk, and the Company has a variable interest in the FPEs. The contractual arrangements described above allow the Company to direct the activities that most significantly affect the economic performance of the FPEs. Accordingly, the Company is the primary beneficiary of the FPEs and consolidates the FPEs under the VIE model. Furthermore, as a direct result of nominal initial equity contributions by the physicians, the financial support the Company can provide to the FPEs (e.g., loans) and the provisions of the contractual arrangements and nominee shareholder succession arrangements described above, the interests held by noncontrolling interest holders lack economic substance and do not provide them with the ability to participate in the residual profits or losses generated by the FPEs. Therefore, all income and expenses recognized by the FPEs are consolidated by the Company. The Company does not hold interests in any VIEs for which the Company is not deemed to be the primary beneficiary. |
| Translation of Foreign Currencies | Translation of Foreign Currencies For all foreign operations, the functional currency is the local currency. Assets and liabilities of these operations are translated into U.S. dollars using the exchange rate in effect at the end of each reporting period. Income statement accounts are translated at the average rate of exchange prevailing during each reporting period. Translation adjustments arising from the use of differing exchange rates from period to period are included in accumulated other comprehensive loss. Foreign currency gains and losses arising from the translation of intercompany receivables and intercompany payables with the Company’s international subsidiaries are recorded as a component of other expense, net, unless the receivable or payable is considered long-term in nature, in which case the foreign currency gains and losses are recorded as a component of accumulated other comprehensive loss. |
| Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are defined as highly liquid investments with original maturities of three months or less. Cash balances may, at times, exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions. Cash includes balances due from third-party credit card companies. |
| Receivables | Receivables Receivables include amounts that are billed and currently due from customers. The amounts due are stated at their net estimated realizable value. The Company maintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected, including balances from customers under recur bill commitment plans. The assessment of the likelihood of customer defaults is based on various factors, including length of time the receivables are past due and historical experience, all of which are subject to change. The Company’s credit write offs were $15,080 and $1,241 for the fiscal years ended December 28, 2024 and December 30, 2023, respectively. |
| Inventories | Inventories Inventories, which consist of finished goods, are stated at the lower of cost or net realizable value on a first-in, first-out basis, net of reserves for obsolescence and shrinkage. |
| Property and Equipment | Property and Equipment Property and equipment are recorded at cost. For financial reporting purposes, equipment is depreciated on the straight-line method over the estimated useful lives of the assets (3 to 10 years). Leasehold improvements are amortized on the straight-line method over the shorter of the term of the lease or the useful life of the related assets. Expenditures for new facilities and improvements that substantially extend the useful life of an asset are capitalized. Ordinary repairs and maintenance are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related depreciation are removed from the accounts and any related gains or losses are included in income. |
| Leases | Leases A lease is defined as an arrangement that contractually specifies the right to use and control an identified asset for a specific period of time in exchange for consideration. Operating leases are included in operating lease assets, portion of operating lease liabilities due within one year, and long-term operating lease liabilities in the Company’s consolidated balance sheets. Finance leases are included in property and equipment, net, other accrued liabilities, and other long-term liabilities in the Company’s consolidated balance sheets. Lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term, using the Company’s incremental borrowing rate commensurate with the lease term, since the Company’s lessors do not provide an implicit rate, nor is one readily available. The incremental borrowing rate is calculated based on the Company’s credit yield curve and adjusted for collateralization, credit quality and economic environment impact, all where applicable. The lease asset includes scheduled lease payments and excludes lease incentives, such as free rent periods and tenant improvement allowances. The Company has certain leases that may include an option to renew and when it is reasonably probable to exercise such option, the Company will include the renewal option terms in determining the lease asset and lease liability. The Company does not have any renewal options that would have a material impact on the terms of the leases and that are also reasonably expected to be exercised as of December 28, 2024. A lease may contain both fixed and variable payments. Variable lease payments that are linked to an index or rate are measured based on the current index or rate at the implementation of the lease accounting standard, or lease commencement date for new leases, with the impact of future changes in the index or rate being recorded as a period expense. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components and has elected not to separate non-lease components from lease components and instead to account for each separate lease component and non-lease component as a single lease component. The Company has elected the short-term lease exception accounting policy, whereby the recognition requirements of the updated guidance is not applied and lease expense is recorded on a straight-line basis with respect to leases with an initial term of 12 months or less. |
| Impairment of Long Lived Assets | Impairment of Long-Lived Assets The Company reviews long-lived assets, including amortizable intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying value of the assets may not be fully recoverable. In fiscal 2024, fiscal 2023 and fiscal 2022, the Company recorded impairment charges of $142, $900 and $714, respectively, related to internal-use computer software and website development costs that were not expected to provide substantive service potential. In fiscal 2024, fiscal 2023 and fiscal 2022, the Company recorded impairment charges of $339, $212 and $61, respectively, related to property and equipment that were expected to be disposed of before the end of their estimated useful lives. In fiscal 2022, the Company recorded lease asset impairment charges of $2,680 in the aggregate. See Note 4 for further information on the Company’s leases. |
| Franchise Rights Acquired and Goodwill | Franchise Rights Acquired Finite-lived franchise rights acquired are amortized over the remaining contractual period, which is generally less than one year. Indefinite-lived franchise rights acquired are tested for potential impairment on at least an annual basis or more often if events so require. In performing the impairment analysis for indefinite-lived franchise rights acquired, the fair value for franchise rights acquired is estimated using a discounted cash flow approach referred to as the hypothetical start-up approach for franchise rights related to the Company’s Workshops + Digital business and a relief from royalty methodology for franchise rights related to the Company’s Digital business. The aggregate estimated fair value for these franchise rights is then compared to the carrying value of the unit of account for these rights. The Company has determined the appropriate unit of account for purposes of assessing impairment to be the combination of the rights in both the Workshops + Digital business and the Digital business in the country in which the applicable acquisition occurred. The net book value of franchise rights acquired for the United States unit of account as of the December 28, 2024 balance sheet date was $68,627, which represented 100.0% of total franchise rights acquired as of December 28, 2024. The net book values of franchise rights acquired for the United States, Australia, United Kingdom and New Zealand units of account as of the December 30, 2023 balance sheet date were $374,353, $4,232, $2,806 and $2,420, respectively, which represented 97.6%, 1.1%, 0.7% and 0.6%, respectively, of total franchise rights acquired as of December 30, 2023. In its hypothetical start-up approach analyses for fiscal 2024, the Company assumed that the year of maturity was reached after 7 years. Subsequent to the year of maturity, the Company estimated future cash flows for the Workshops + Digital business in each country based on assumptions regarding revenue growth and operating income margins. In the Company’s relief from royalty approach analyses for fiscal 2024, the cash flows associated with the Digital business in each country were based on the expected Digital revenue for such country and the application of a royalty rate based on current market terms. The cash flows for the Workshops + Digital and the Digital businesses were discounted utilizing rates which were calculated using the weighted average cost of capital, which included the cost of equity and the cost of debt. Goodwill In performing the impairment analysis for goodwill, the fair value for the Company’s reporting units is estimated using a discounted cash flow approach. This approach involves projecting future cash flows attributable to the reporting unit and discounting those estimated cash flows using an appropriate discount rate. The estimated fair value is then compared to the carrying value of the reporting unit. The Company has determined the appropriate reporting units for purposes of assessing goodwill impairment to be the Behavioral and Clinical business lines. See Note 7 for further information on the Company’s change in goodwill reporting units. The net book values of goodwill for the Behavioral and Clinical reporting units as of the December 28, 2024 balance sheet date were $149,841 and $89,742, respectively, which represented 62.5% and 37.5%, respectively, of total goodwill as of December 28, 2024. In performing the impairment analysis for goodwill, for all of the Company’s reporting units, the Company estimated future cash flows by utilizing the historical debt-free cash flows (cash flows provided by operations less capital expenditures) attributable to each of the Behavioral and Clinical reporting units and then applied expected future operating income growth rates for the respective reporting unit. The Company utilized operating income as the basis for measuring its potential growth because it believes it is the best indicator of the performance of its business. The Company then discounted the estimated future cash flows utilizing a discount rate which was calculated using the weighted average cost of capital, which included the cost of equity and the cost of debt. Indefinite-Lived Franchise Rights Acquired and Goodwill Impairment Tests The Company reviews indefinite-lived franchise rights acquired and goodwill for potential impairment on at least an annual basis or more often if events so require. The Company performed its annual fair value impairment testing as of May 5, 2024 and May 7, 2023, each the first day of fiscal May, on its indefinite-lived franchise rights acquired and goodwill. In addition, based on triggering events, the Company performed interim impairment tests as of March 30, 2024 and September 28, 2024 on its indefinite-lived franchise rights acquired and goodwill for the first and third quarters of fiscal 2024, respectively. See Note 7 for further information regarding the results of the franchise rights acquired and goodwill annual impairment tests, and the franchise rights acquired and goodwill interim impairment tests for the first and third quarters of fiscal 2024. |
| Other Intangible Assets | Other Intangible Assets Other finite-lived intangible assets are amortized using the straight-line method over their estimated useful lives of 3 to 20 years. The Company expenses all software costs incurred during the preliminary project stage and capitalizes all internal and external direct costs of materials and services consumed in developing software once the development has reached the application development stage. Application development stage costs generally include software configuration, coding, installation to hardware and testing. These costs are amortized over their estimated useful lives of 3 to 5 years for software and website development costs. All costs incurred for upgrades, maintenance and enhancements, including the cost of website content, which do not result in additional functionality, are expensed as incurred. |
| Revenue Recognition | Revenue Recognition Revenues are recognized when control of the promised services or goods is transferred to the Company’s customers in an amount that reflects the consideration it expects to be entitled to in exchange for those services or goods. The Company earns revenue from subscriptions for its Digital and Clinical products and by conducting workshops, for which it charges a fee, predominantly through commitment plans, as well as prepayment plans. The Company also earns revenue by collecting royalties related to licensing agreements, collecting royalties from franchisees, and publishing. Prior to fiscal 2024, the Company also earned revenue by selling consumer products. Commitment plan revenues and prepaid workshop fees are recorded to revenue on a straight-line basis as control is transferred since these performance obligations are satisfied over time. “Digital Subscription Revenues,” consisting of the fees associated with subscriptions for the Company’s Digital offerings, are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. One-time Digital sign-up fees are considered immaterial in the context of the contract and the related revenue is amortized into revenue over the commitment period. “Workshops + Digital Subscription Revenues”, consisting of the fees associated with subscriptions for the Company’s Workshops + Digital offerings, are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. In the Workshops + Digital business, the Company generally charges non-refundable registration and starter fees in exchange for access to the Company’s digital subscription products, an introductory information session and materials it provides to new members. Revenue from these registration and starter fees is considered immaterial in the context of the contract and is amortized into revenue over the commitment period. “Clinical Subscription Revenues” consist of revenues earned from initial consultations that are conducted to determine if a prospective member is eligible to be a Clinical subscriber and from fees associated with subscriptions for the Company’s Clinical offerings, predominantly through monthly commitment plans and prepayment plans. One-time initial consultation fees are recorded as revenue at the point in time control is transferred, which is when the initial consultation takes place. Commitment plan revenues and prepaid subscription fees are recognized on a straight-line basis as control is transferred since these performance obligations are satisfied over time. Revenue from royalties is recognized at the point in time control is transferred, which is when royalties are earned. Revenue from consumer product sales was recognized at the point in time control was transferred, which was when products were shipped to customers and partners and title and risk of loss passed to them. For revenue transactions that involve multiple performance obligations, the amount of revenue recognized is determined using the relative fair value approach, which is generally based on each performance obligation’s stand-alone selling price. Discounts to customers, including free registration offers, are recorded as a deduction from gross revenue in the period such revenue was recognized. The Company grants refunds in aggregate amounts that historically have not been material. Because the period of payment of the refund generally approximates the period revenue was originally recognized, refunds are recorded as a reduction of revenue over the same period. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The Company expenses sales commissions when incurred (amortization period would have been one year or less) and these expenses are recorded within selling, general and administrative expenses. The Company treats shipping and handling fees as fulfillment costs and not as a separate performance obligation, and as a result, any fees received from customers are included in the transaction price allocated to the performance obligation of providing goods with a corresponding amount accrued within cost of product sales and other for amounts paid to applicable carriers. Sales tax, value-added tax and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. |
| Advertising Costs | Advertising Costs Advertising costs consist primarily of broadcast and digital media. All costs related to advertising are expensed in the period incurred, except for media production-related costs, which are expensed the first time the advertising takes place. Total advertising expenses for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were $234,316, $235,227 and $238,978, respectively. |
| Income Taxes | Income Taxes Deferred income tax assets and liabilities result primarily from temporary differences between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which differences are expected to reverse. If it is more-likely-than-not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized. The Company considers historic levels of income, estimates of future taxable income and feasible tax planning strategies in assessing the need for a tax valuation allowance. The Company recognizes a benefit for uncertain tax positions when a tax position taken or expected to be taken in a tax return is more-likely-than-not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The Company recognizes accrued interest and penalties associated with uncertain tax positions as part of the provision for income taxes on its consolidated statements of operations. In addition, assets and liabilities acquired in purchase business combinations are assigned their fair values and deferred taxes are provided for lower or higher tax bases. |
| Derivative Instruments and Hedging | Derivative Instruments and Hedging The Company is exposed to certain risks related to its ongoing business operations, primarily interest rate risk and foreign currency risk. Interest rate swaps were historically entered into to hedge a portion of the cash flow exposure associated with the Company’s variable-rate borrowings. At December 28, 2024, the Company did not have any interest rate swaps in effect. The Company does not use any derivative instruments for trading or speculative purposes. The Company recognized the fair value of all derivative instruments as either assets or liabilities on the balance sheet. The Company designated and accounted for interest rate swaps as cash flow hedges of its variable-rate borrowings. For derivative instruments that were designated and qualified as cash flow hedges, the effective portion of the gain or loss on the derivative was reported as a component of accumulated other comprehensive loss and reclassified into earnings in the periods during which the hedged transactions affected earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness were recognized in current earnings. The fair value of the Company’s interest rate swaps was reported as a component of accumulated other comprehensive loss on its balance sheet. See Note 18 for a further discussion regarding the fair value of the Company’s interest rate swaps. The net effect of the interest payable and receivable under the Company’s effective interest rate swap was included in interest expense on its consolidated statements of operations. |
| Deferred Financing Costs | Deferred Financing Costs Deferred financing costs consist of fees paid by the Company as part of the establishment, exchange and/or modification of the Company’s long-term debt. Amortization expense for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 was $5,018, $5,018 and $5,018, respectively. |
Leases (Tables) |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Lease Assets and Lease Liabilities | At December 28, 2024 and December 30, 2023, the Company’s lease assets and lease liabilities, primarily for its studios and corporate offices, were as follows:
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| Schedule of Components of Lease Expense | For the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022, the components of the Company’s lease expense were as follows:
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| Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates | At December 28, 2024 and December 30, 2023, the Company’s weighted average remaining lease term and weighted average discount rates were as follows:
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| Schedule of Maturity of Operating Lease Liabilities | At December 28, 2024, the maturity of the Company’s operating lease liabilities in each of the next five fiscal years and thereafter are as follows:
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| Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 were as follows:
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Revenue (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Revenues Disaggregated by Revenue Source | The following table presents the Company’s revenues disaggregated by revenue source:
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| Schedule of Deferred Revenues | The opening and ending balances of the Company’s deferred revenues were as follows:
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Acquisitions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Purchase Price Allocation for Acquired Identifiable Assets, Liabilities Assumed and Goodwill | The following table shows the purchase price allocation for Sequence to the acquired identifiable assets, liabilities assumed and goodwill:
(1) Reflects $16,000 of cash payable on April 10, 2025 as Merger Consideration discounted using the Company's weighted average cost of debt. (2)
Represents the fair value of the shares transferred to the sellers as Merger Consideration, based on the number of shares to be issued, 7,996, multiplied by the closing price of the Company's shares on April 10, 2023 of $4.12 per share. |
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Franchise Rights Acquired, Goodwill and Other Intangible Assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Change in Carrying Value of Goodwill | For the fiscal year ended December 28, 2024, the change in the carrying value of goodwill was due to the effect of exchange rate changes as follows:
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| Schedule of Carrying Values of Finite-lived Intangible Assets | The carrying values of finite-lived intangible assets as of December 28, 2024 and December 30, 2023 were as follows:
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| Schedule of Estimated Amortization Expense of Finite-lived Intangible Assets | Estimated amortization expense of existing finite-lived intangible assets for the next five fiscal years and thereafter is as follows:
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Property and Equipment (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment | The carrying values of property and equipment as of December 28, 2024 and December 30, 2023 were as follows:
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Long-Term Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Long-Term Debt | The components of the Company’s long-term debt were as follows:
(1)
Includes amortization of deferred financing costs and debt discount. |
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| Schedule of Maturities of Long-term Debt | At December 28, 2024, the aggregate amounts of the Company’s existing long-term debt maturing in each of the next five fiscal years and thereafter are as follows:
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Per Share Data (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share:
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Stock Plans (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of each of these option awards is estimated on the date of grant using the Black-Scholes option pricing model with the weighted average assumptions noted in the following table. Expected volatility is based on the historical volatility of the Company’s common stock. The expected term takes into consideration option exercise history. The risk-free interest rate is based on the U.S. Treasury yield curve in effect on the date of grant which most closely corresponds to the expected term of the Time-Vesting Options. The dividend yield is based on the Company’s historic average dividend yield. The Company did not grant any Time-Vesting Options for the fiscal years ended December 28, 2024 and December 30, 2023.
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| Schedule of Share-based Compensation, Stock Options Activity | A summary of all option activity for the fiscal year ended December 28, 2024 is presented below.
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| Schedule of Share-based Compensation, Restricted Stock Unit Award Activity | A summary of RSU activity under the Stock Plans for the fiscal year ended December 28, 2024 is presented below.
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| Schedule of Share-based Compensation, Performance Stock Unit Award Activity | A summary of PSU activity for the fiscal year ended December 28, 2024 is presented below.
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Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Loss before Income Tax, Domestic and Foreign | The components of the Company’s consolidated loss before income taxes consist of the following:
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| Schedule of Components of Income Tax Expense (Benefit) | The following table summarizes the Company’s consolidated provision for (benefit from) U.S. federal, state and foreign income taxes:
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| Schedule of Effective Income Tax Rate Reconciliation |
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| Schedule of Deferred Tax Assets and Liabilities | The deferred tax assets and liabilities recorded on the Company’s consolidated balance sheets are as follows:
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| Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
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Cash Flow Information (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Cash Flow Elements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Cash Flow, Supplemental Disclosures |
(1)
Fiscal years ended December 28, 2024, December 30, 2023 and December 31, 2022 include tax refunds received of $15,421, $7,054 and $5,109, respectively. |
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| Schedule of Cash and Cash Equivalents and Restricted Cash | The following table presents the Company’s cash and cash equivalents and restricted cash by balance sheet location at December 28, 2024 and December 30, 2023:
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Segment and Geographic Data (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Information About Sources of Revenue, Long-Lived Assets and Operating Lease Assets by Geographic Area | The following tables present information about the Company’s revenue and other information by geographic area. There were no material amounts of sales or transfers among geographic areas and no material amounts of U.S. export sales.
(1) Amounts include finance lease assets
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Aggregate Fair Value of Derivative Financial Instruments | The following table presents the aggregate fair value of the Company’s derivative financial instruments:
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Derivative Instruments and Hedging (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Aggregate Fair Value of Derivative Financial Instruments by Balance Sheet Classification and Location | The following table presents the aggregate fair value of the Company’s derivative financial instruments by balance sheet classification and location:
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Accumulated Other Comprehensive Loss by Component | Amounts reclassified out of accumulated other comprehensive loss were as follows: Changes in Accumulated Other Comprehensive Loss by Component (1)
(1) Amounts in parentheses indicate debits (2) See separate table below for details about these reclassifications
(1) Amounts in parentheses indicate debits (2) See separate table below for details about these reclassifications
(1) Amounts in parentheses indicate debits (2)
See separate table below for details about these reclassifications |
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| Reclassifications out of Accumulated Other Comprehensive Loss | Reclassifications out of Accumulated Other Comprehensive Loss (1)
(1)
Amounts in parentheses indicate debits to profit/loss |
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Restructuring (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Restructuring Expenses | For the fiscal year ended December 28, 2024, the components of the Company’s restructuring charges for the 2024 Plan were as follows:
For the fiscal year ended December 28, 2024, restructuring charges for the 2024 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 28, 2024, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 28, 2024, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 30, 2023, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 30, 2023, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 31, 2022, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
For the fiscal year ended December 31, 2022, restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
For the fiscal year ended December 31, 2022, the components of the Company’s restructuring charges for the 2022 Plan were as follows:
For the fiscal year ended December 31, 2022, restructuring charges for the 2022 Plan were recorded in the Company’s consolidated statements of operations as follows:
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| Schedule of Restructuring-related Liabilities | The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
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Accounting Standards Adopted in Current Year - Additional Information (Detail) |
12 Months Ended |
|---|---|
Dec. 28, 2024 | |
| Accounting Changes and Error Corrections [Abstract] | |
| Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
| Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
| Accounting Standards Update [Extensible Enumeration] | us-gaap:AccountingStandardsUpdate202307Member |
Leases - Schedule of Lease Assets and Lease Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Assets: | ||
| Operating leases | $ 42,047 | $ 52,272 |
| Finance leases | $ 5 | |
| Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property and equipment, net | |
| Total lease assets | 42,047 | $ 52,277 |
| Current | ||
| Operating leases | 8,168 | 9,613 |
| Finance leases | $ 4 | |
| Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Other accrued liabilities | |
| Noncurrent | ||
| Operating leases | 44,322 | $ 53,461 |
| Total lease liabilities | $ 52,490 | $ 63,078 |
Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Operating lease cost: | |||
| Fixed lease cost | $ 15,444 | $ 21,259 | $ 33,227 |
| Lease termination cost | 34 | 12,718 | 2,726 |
| Variable lease cost | 23 | 62 | 27 |
| Total operating lease cost | 15,501 | 34,039 | 35,980 |
| Finance lease cost: | |||
| Amortization of leased assets | 4 | 48 | 112 |
| Interest on lease liabilities | 0 | 1 | 6 |
| Total finance lease cost | 4 | 49 | 118 |
| Total lease cost | $ 15,505 | $ 34,088 | $ 36,098 |
Leases - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Lessee Lease Description [Line Items] | |||
| Lease weighted average remaining lease term | 6 years 10 months 2 days | ||
| Lease asset impairment charge | $ 2,680 | ||
| Sublease income | $ 4,217 | $ 3,375 | |
| Selling, General and Administrative Expenses | |||
| Lessee Lease Description [Line Items] | |||
| Lease asset impairment charge | $ 2,680 | ||
| Minimum | |||
| Lessee Lease Description [Line Items] | |||
| Leases, remaining lease term | 0 years | ||
| Maximum | |||
| Lessee Lease Description [Line Items] | |||
| Leases, remaining lease term | 8 years | ||
Leases - Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates (Detail) |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Weighted Average Remaining Lease Term (years) | ||
| Operating leases | 6 years 10 months 2 days | 7 years 3 months 21 days |
| Finance leases | 5 months 23 days | |
| Weighted Average Discount Rate | ||
| Operating leases | 7.68% | 7.54% |
| Finance leases | 4.10% |
Leases - Schedule of Maturity of Operating Lease Liabilities (Detail) $ in Thousands |
Dec. 28, 2024
USD ($)
|
|---|---|
| Operating Leases | |
| Fiscal 2025 | $ 11,977 |
| Fiscal 2026 | 10,088 |
| Fiscal 2027 | 9,307 |
| Fiscal 2028 | 9,073 |
| Fiscal 2029 | 8,963 |
| Thereafter | 17,852 |
| Total lease payments | 67,260 |
| Less imputed interest | 14,770 |
| Present value of lease liabilities | $ 52,490 |
Leases - Summary of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Cash paid for amounts included in the measurement of lease liabilities | |||
| Operating cash flows from operating leases | $ 15,786 | $ 22,013 | $ 31,580 |
| Operating cash flows from finance leases | 0 | 1 | 6 |
| Financing cash flows from finance leases | 4 | 48 | 112 |
| Lease assets obtained (modified) in exchange for new (modified) operating lease liabilities | $ 968 | $ (7,086) | 13,297 |
| Lease assets obtained in exchange for new finance lease liabilities | $ 49 | ||
Revenue - Schedule of Revenues Disaggregated by Revenue Source (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | $ 785,921 | $ 889,551 | $ 1,039,835 |
| Digital Subscription Revenues | |||
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | 512,853 | 571,074 | 662,668 |
| Workshops + Digital Subscription Revenues | |||
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | 186,139 | 221,139 | 256,387 |
| Clinical Subscription Revenues | |||
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | 78,001 | 30,542 | |
| Subscription Revenues, net | |||
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | 776,993 | 822,755 | 919,055 |
| Other Revenues, net | |||
| Disaggregation Of Revenue [Line Items] | |||
| Revenues, net | $ 8,928 | $ 66,796 | $ 120,780 |
Revenue - Schedule of Deferred Revenues (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Deferred Revenue - Short Term | ||
| Contract With Customer Asset And Liability [Line Items] | ||
| Deferred Revenue, Beginning balance | $ 33,966 | $ 32,156 |
| Net increase (decrease) during the period | (2,311) | 1,810 |
| Deferred Revenue, Ending balance | 31,655 | 33,966 |
| Deferred Revenue - Long Term | ||
| Contract With Customer Asset And Liability [Line Items] | ||
| Deferred Revenue, Beginning balance | 165 | 360 |
| Net increase (decrease) during the period | (72) | (195) |
| Deferred Revenue, Ending balance | $ 93 | $ 165 |
Revenue - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Revenues [Abstract] | ||
| Deferred revenue recognized | $ 33,753 | $ 32,156 |
Acquisitions - Summary of Purchase Price Allocation for Acquired Identifiable Assets, Liabilities Assumed and Goodwill (Parenthetical) (Detail) - Weekend Health, Inc. d/b/a Sequence - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
Apr. 10, 2023 |
Apr. 10, 2025 |
||||
|---|---|---|---|---|---|---|
| Scenario Forecast | ||||||
| Business Acquisition [Line Items] | ||||||
| Cash to be paid on April 10, 2025 | $ 16,000 | |||||
| Common Stock | ||||||
| Business Acquisition [Line Items] | ||||||
| Common shares issued | 7,996 | |||||
| Stock price | $ 4.34 | |||||
| Purchase Price Allocation | Scenario Forecast | ||||||
| Business Acquisition [Line Items] | ||||||
| Cash to be paid on April 10, 2025 | [1] | $ 12,420 | ||||
| Purchase Price Allocation | Common Stock | ||||||
| Business Acquisition [Line Items] | ||||||
| Common shares issued | 7,996 | |||||
| Stock price | [2] | $ 4.12 | ||||
| ||||||
Franchise Rights Acquired, Goodwill and Other Intangible Assets - Additional Information (Detail) |
3 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
May 05, 2024
USD ($)
|
May 07, 2023
USD ($)
|
May 08, 2022
USD ($)
|
Aug. 10, 2018
USD ($)
|
Sep. 28, 2024
USD ($)
|
Mar. 30, 2024
USD ($)
|
Dec. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Oct. 01, 2022
USD ($)
|
Jul. 02, 2022
USD ($)
|
Dec. 28, 2024
USD ($)
Segment
|
Dec. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Accumulated goodwill impairment loss | $ 25,111,000 | $ 25,111,000 | $ 25,111,000 | ||||||||||
| Number of reportable segments | Segment | 1 | ||||||||||||
| Number of operating segments | Segment | 1 | ||||||||||||
| Net book value of goodwill | 243,441,000 | $ 155,998,000 | $ 239,583,000 | 243,441,000 | $ 155,998,000 | ||||||||
| Goodwill impairment | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | 3,586,000 | |||||||
| Finite-lived intangible assets, aggregate amortization expense | $ 33,596,000 | $ 42,449,000 | $ 33,676,000 | ||||||||||
| Kurbo, Inc | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Goodwill impairment | $ 1,101,000 | ||||||||||||
| Kurbo Health, Inc | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Net purchase price | $ 3,063,000 | ||||||||||||
| Net book value of goodwill | $ 1,101,000 | ||||||||||||
| Behavioral Reporting Unit | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of goodwill held | 62.50% | ||||||||||||
| Net book value of goodwill | $ 149,841,000 | ||||||||||||
| Goodwill impairment | $ 0 | ||||||||||||
| Behavioral Reporting Unit | Minimum | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of estimated fair value in excess of carrying amount | 100.00% | ||||||||||||
| Clinical Reporting Unit | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of goodwill held | 37.50% | ||||||||||||
| Net book value of goodwill | $ 89,742,000 | ||||||||||||
| Goodwill impairment | $ 0 | ||||||||||||
| Clinical Reporting Unit | Minimum | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of estimated fair value in excess of carrying amount | 20.00% | ||||||||||||
| All Reporting Units | Minimum | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of estimated fair value in excess of carrying amount | 30.00% | 25.00% | |||||||||||
| Republic of Ireland | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Goodwill impairment | 2,383,000 | 2,023,000 | |||||||||||
| Northern Ireland | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Goodwill impairment | 1,203,000 | ||||||||||||
| Franchise Rights Acquired | Northern Ireland | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Finite-lived intangible assets, impairment charges | $ 47,000 | ||||||||||||
| Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | ||||||||||||
| Franchise Rights Acquired | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 0 | $ 0 | |||||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | |||||||||||
| Franchise Rights Acquired | Other Units of Account | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 0 | ||||||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | ||||||||||||
| Franchise Rights Acquired | Australia | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 4,074,000 | $ 1,872,000 | |||||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | |||||||||||
| Percentage of franchise rights acquired held | 1.10% | 1.10% | |||||||||||
| Net book value of franchise rights acquired | $ 4,232,000 | $ 4,232,000 | |||||||||||
| Franchise Rights Acquired | United States | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 0 | $ 54,295,000 | $ 251,431,000 | $ 25,739,000 | $ 298,291,000 | ||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | ||||||||
| Percentage of franchise rights acquired held | 97.60% | 100.00% | 97.60% | ||||||||||
| Net book value of franchise rights acquired | $ 374,353,000 | $ 68,627,000 | $ 374,353,000 | ||||||||||
| Franchise Rights Acquired | United States | Minimum | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of estimated fair value in excess of carrying amount | 5.00% | ||||||||||||
| Franchise Rights Acquired | United Kingdom | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 0 | $ 2,750,000 | $ 155,000 | $ 8,275,000 | |||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | |||||||||
| Percentage of franchise rights acquired held | 0.70% | 0.70% | |||||||||||
| Net book value of franchise rights acquired | $ 2,806,000 | $ 2,806,000 | |||||||||||
| Franchise Rights Acquired | United Kingdom | Minimum | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Percentage of estimated fair value in excess of carrying amount | 5.00% | ||||||||||||
| Franchise Rights Acquired | Canada | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 19,657,000 | $ 13,312,000 | $ 24,485,000 | ||||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | ||||||||||
| Franchise Rights Acquired | New Zealand | |||||||||||||
| Goodwill And Intangible Assets Disclosure [Line Items] | |||||||||||||
| Indefinite-lived intangible assets, impairment charges | $ 2,328,000 | $ 0 | $ 1,138,000 | $ 834,000 | |||||||||
| Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | Franchise rights acquired and goodwill impairments | |||||||||
| Percentage of franchise rights acquired held | 0.60% | 0.60% | |||||||||||
| Net book value of franchise rights acquired | $ 2,420,000 | $ 2,420,000 | |||||||||||
Franchise Rights Acquired, Goodwill and Other Intangible Assets - Change in Carrying Value of Goodwill (Detail) - USD ($) |
3 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
May 05, 2024 |
May 07, 2023 |
May 08, 2022 |
Sep. 28, 2024 |
Mar. 30, 2024 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|
| Goodwill [Line Items] | |||||||
| Beginning balance | $ 243,441,000 | $ 243,441,000 | $ 155,998,000 | ||||
| Goodwill acquired during the period | 89,742,000 | ||||||
| Goodwill impairment | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | (3,586,000) | |
| Effect of exchange rate changes | (3,858,000) | 1,287,000 | |||||
| Ending balance | $ 239,583,000 | $ 243,441,000 | |||||
Franchise Rights Acquired, Goodwill and Other Intangible Assets - Schedule of Carrying Values of Finite-lived Intangible Assets (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | $ 289,371 | $ 285,618 |
| Accumulated Amortization | 242,236 | 219,695 |
| Capitalized software and website development costs | ||
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | 255,822 | 251,410 |
| Accumulated Amortization | 218,103 | 195,696 |
| Trademarks | ||
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | 12,192 | 12,188 |
| Accumulated Amortization | 12,103 | 12,024 |
| Other | ||
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | 13,537 | 13,991 |
| Accumulated Amortization | 6,714 | 6,661 |
| Trademarks and other intangible assets | ||
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | 281,551 | 277,589 |
| Accumulated Amortization | 236,920 | 214,381 |
| Franchise rights acquired | ||
| Finite-Lived Intangible Assets | ||
| Gross Carrying Amount | 7,820 | 8,029 |
| Accumulated Amortization | $ 5,316 | $ 5,314 |
Franchise Rights Acquired, Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense of Finite-lived Intangible Assets (Detail) $ in Thousands |
Dec. 28, 2024
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Fiscal 2025 | $ 22,025 |
| Fiscal 2026 | 13,143 |
| Fiscal 2027 | 4,776 |
| Fiscal 2028 | 727 |
| Fiscal 2029 | 704 |
| Thereafter | $ 5,760 |
Property and Equipment (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Property, Plant and Equipment [Abstract] | ||
| Equipment | $ 24,561 | $ 31,264 |
| Leasehold improvements | 40,802 | 42,039 |
| Property and equipment, gross | 65,363 | 73,303 |
| Less: Accumulated depreciation and amortization | (49,565) | (53,562) |
| Property and equipment, net | $ 15,798 | $ 19,741 |
Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Property, Plant and Equipment [Abstract] | |||
| Depreciation and amortization expense, property and equipment | $ 4,188 | $ 10,022 | $ 10,125 |
Long-Term Debt - Components of Long-Term Debt (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
||
|---|---|---|---|---|
| Debt Instrument | ||||
| Total debt | $ 1,445,000 | $ 1,445,000 | ||
| Unamortized deferred financing costs | 6,889 | 8,770 | ||
| Unamortized debt discount | 7,468 | 9,766 | ||
| Total long term debt | $ 1,430,643 | $ 1,426,464 | ||
| Effective rate | [1] | 7.74% | 7.64% | |
| Revolving Credit Facility due April 13, 2026 | ||||
| Debt Instrument | ||||
| Total debt | $ 0 | |||
| Effective rate | [1] | 0.00% | 0.00% | |
| Term Loan Facility due April 13, 2028 | ||||
| Debt Instrument | ||||
| Total debt | $ 945,000 | $ 945,000 | ||
| Unamortized deferred financing costs | 3,604 | 4,712 | ||
| Unamortized debt discount | $ 7,468 | $ 9,766 | ||
| Effective rate | [1] | 9.37% | 9.21% | |
| Senior Secured Notes due April 15, 2029 | ||||
| Debt Instrument | ||||
| Total debt | $ 500,000 | $ 500,000 | ||
| Unamortized deferred financing costs | $ 3,285 | $ 4,058 | ||
| Effective rate | [1] | 4.69% | 4.70% | |
| ||||
Long-Term Debt - Additional Information (Detail) |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 30, 2025 |
Jul. 01, 2023 |
Jul. 03, 2021
USD ($)
|
Apr. 13, 2021
USD ($)
|
Mar. 29, 2025 |
Dec. 28, 2024
USD ($)
|
Dec. 30, 2023
USD ($)
|
|||
| Debt Instrument | |||||||||
| Loan outstanding amount | $ 1,445,000,000 | $ 1,445,000,000 | |||||||
| Aggregate principal amount | $ 1,430,643,000 | $ 1,426,464,000 | |||||||
| Percentage of equity interests pledged | 100.00% | ||||||||
| Percentage of annual excess cash flow | 50.00% | ||||||||
| Percentage of annual excess cash flow after attaining first lien secured net leverage ratio one | 25.00% | ||||||||
| Percentage of annual excess cash flow after attaining first lien secured net leverage ratio two | 0.00% | ||||||||
| Percentage of net cash proceeds of certain non ordinary course asset sales by company and its restricted subsidiaries | 100.00% | ||||||||
| Percentage of right to invest of net cash proceeds of certain non ordinary course asset sales by company and its restricted subsidiaries subject to certain qualifications | 100.00% | ||||||||
| Percentage of net proceeds of any issuance or incurrence of debt by the Company or any of its restricted subsidiaries | 100.00% | ||||||||
| Effective Interest Rate | [1] | 7.74% | 7.64% | ||||||
| Average interest rate on outstanding debt, exclusive the impact of swap | 7.75% | 7.64% | |||||||
| Average interest rate on outstanding debt, including the impact of swap | 7.47% | 6.53% | |||||||
| One-Month Term Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.11448% | ||||||||
| Three-Month Term Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.26161% | ||||||||
| Six-Month Term Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.42826% | ||||||||
| Twelve-Month Term Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.71513% | ||||||||
| Maximum | |||||||||
| Debt Instrument | |||||||||
| Pledge percentage of first tier foreign subsidiaries directly owned by company or wholly owned subsidiaries | 65.00% | ||||||||
| 4.500% Senior Secured Notes due 2029 | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, maturity year | 2029 | ||||||||
| Debt Instrument Interest Rate Stated Percentage | 4.50% | ||||||||
| Aggregate principal amount | $ 500,000,000 | ||||||||
| Credit Facilities | |||||||||
| Debt Instrument | |||||||||
| Credit Facility, maximum borrowing capacity | $ 1,000,000,000 | ||||||||
| Loan outstanding amount | $ 945,000,000 | ||||||||
| Term Loan Facility due April 13, 2028 | |||||||||
| Debt Instrument | |||||||||
| Loan outstanding amount | $ 945,000,000 | $ 945,000,000 | |||||||
| Effective Interest Rate | [1] | 9.37% | 9.21% | ||||||
| Term Loan Facility due April 13, 2028 | Federal Funds Effective Rate | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.50% | ||||||||
| Term Loan Facility due April 13, 2028 | Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 1.00% | ||||||||
| Debt instrument variable rate floor percent determined option one | 0.50% | ||||||||
| Effective Interest Rate | 3.50% | ||||||||
| Term Loan Facility due April 13, 2028 | Maximum | Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Debt instrument variable rate floor percent determined option one | 1.50% | ||||||||
| Senior Secured Notes due April 15, 2029 | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument Interest Rate Stated Percentage | 4.50% | ||||||||
| Loan outstanding amount | $ 500,000,000 | $ 500,000,000 | |||||||
| Effective Interest Rate | [1] | 4.69% | 4.70% | ||||||
| Debt instrument issued date | Apr. 13, 2021 | ||||||||
| Debt instrument, mature date | Apr. 15, 2029 | ||||||||
| Debt instrument interest payment term | Interest on the Senior Secured Notes is payable semi-annually on April 15 and October 15 of each year. | ||||||||
| Debt Instrument, redemption, description | April 15, 2024, the Company may on any one or more occasions redeem some or all of the Senior Secured Notes at a purchase price equal to 102.250% of the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date, such optional redemption price decreasing to 101.125% on or after April 15, 2025 and to 100.000% on or after April 15, 2026. | ||||||||
| Senior Secured Notes due April 15, 2029 | Change of Control | |||||||||
| Debt Instrument | |||||||||
| Debt instrument, percentage of aggregate principal amount that may be redeemed (up to) | 101.00% | ||||||||
| Senior Secured Notes due April 15, 2029 | Sale of Assets | |||||||||
| Debt Instrument | |||||||||
| Debt instrument, percentage of aggregate principal amount that may be redeemed (up to) | 100.00% | ||||||||
| Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2024 | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, percentage of principal can be redeemed | 102.25% | ||||||||
| Debt Instrument, redemption date | Apr. 15, 2024 | ||||||||
| Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2025 | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, percentage of principal can be redeemed | 101.125% | ||||||||
| Debt Instrument, redemption date | Apr. 15, 2025 | ||||||||
| Senior Secured Notes due April 15, 2029 | Debt Instrument Redemption Date, April 15, 2026 | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, percentage of principal can be redeemed | 100.00% | ||||||||
| Debt Instrument, redemption date | Apr. 15, 2026 | ||||||||
| Credit Facilities and Senior Secured Notes | |||||||||
| Debt Instrument | |||||||||
| Loan outstanding amount | $ 1,445,000,000 | ||||||||
| Revolving Credit Facility | |||||||||
| Debt Instrument | |||||||||
| Credit Facility, maximum borrowing capacity | 61,250,000 | ||||||||
| Loan outstanding amount | 0 | ||||||||
| Aggregate principal amount | 0 | $ 0 | |||||||
| Credit facility available amount | 173,841,000 | ||||||||
| Line of credit facility, issued but undrawn letters of credit | $ 1,159,000 | ||||||||
| Effective Interest Rate | [1] | 0.00% | 0.00% | ||||||
| Minimum outstanding amount to compliance springing maintenance covenant | 35.00% | ||||||||
| Consolidated first lien leverage ratio | 8.36 | ||||||||
| Revolving Credit Facility | Forecast | |||||||||
| Debt Instrument | |||||||||
| Consolidated first lien leverage ratio compliance | 5 | 5.25 | |||||||
| Revolving Credit Facility | Federal Funds Effective Rate | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 0.50% | ||||||||
| Revolving Credit Facility | Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Credit facility, interest rate | 1.00% | ||||||||
| Debt instrument variable rate floor percent determined option one | 0.00% | ||||||||
| Effective Interest Rate | 2.75% | ||||||||
| Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR) | |||||||||
| Debt Instrument | |||||||||
| Debt instrument variable rate floor percent determined option one | 1.00% | ||||||||
| Revolving Credit Facility | Senior Secured Revolving Credit Facility | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, maturity year | 2026 | ||||||||
| Credit Facility, maximum borrowing capacity | $ 175,000,000 | ||||||||
| Term Loan Facility | Senior Secured Tranche B Term Loan | |||||||||
| Debt Instrument | |||||||||
| Debt Instrument, maturity year | 2028 | ||||||||
| Credit Facility, maximum borrowing capacity | $ 1,000,000,000 | ||||||||
| |||||||||
Long-Term Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Debt Disclosure [Abstract] | ||
| Fiscal 2027 | $ 10,000 | |
| Fiscal 2028 | 935,000 | |
| Fiscal 2029 | 500,000 | |
| Total Debt | $ 1,445,000 | $ 1,445,000 |
Treasury Stock - Additional Information (Detail) - USD ($) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
Oct. 21, 2010 |
May 25, 2006 |
Jun. 13, 2005 |
Oct. 09, 2003 |
|
| Class of Stock Disclosures [Abstract] | |||||||
| Treasury Stock, value of common stock shares authorized for repurchase | $ 250,000,000 | $ 250,000,000 | $ 250,000,000 | $ 250,000,000 | |||
| Treasury Stock, common stock shares repurchased | 0 | 0 | 0 | ||||
| Amount remained available to purchase shares under repurchase program | $ 208,933,000 | ||||||
Per Share Data - Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Numerator: | |||
| Net Income (Loss) | $ (345,701) | $ (112,255) | $ (256,868) |
| Denominator: | |||
| Weighted average shares of common stock outstanding | 79,578 | 76,677 | 70,321 |
| Weighted average diluted common shares outstanding | 79,578 | 76,677 | 70,321 |
| Net loss per share | |||
| Basic | $ (4.34) | $ (1.46) | $ (3.65) |
| Diluted | $ (4.34) | $ (1.46) | $ (3.65) |
Per Share Data - Additional Information (Detail) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Earnings Per Share [Abstract] | |||
| Anti-dilutive common stock equivalents excluded from the calculation of diluted net loss per share | 9,572 | 9,113 | 8,540 |
Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
Dec. 28, 2019 |
|
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Share-based compensation expense | $ 7,764 | $ 15,185 | $ 12,957 | |
| Total income tax benefit recognized for all share-based compensation awards | 1,197 | 1,850 | 2,603 | |
| Tax benefits realized from options exercised and RSUs and PSUs vested | 658 | 1,287 | 1,017 | |
| Compensation costs capitalized | 0 | $ 0 | $ 0 | |
| Total unrecognized compensation cost related to stock options and RSUs granted | $ 6,569 | |||
| Compensation expense recognition period (years) | 1 year 2 months 12 days | |||
| Options outstanding, exercise price, lower range | $ 5.25 | $ 5.25 | $ 5.25 | |
| Options outstanding, exercise price, upper range | $ 50.00 | $ 50.00 | 50.00 | |
| Weighted-average grant-date fair value of all options granted | $ 3.96 | |||
| Total intrinsic value of all options exercised | $ 0 | $ 248 | $ 0 | |
| Cash received from options exercised | $ 0 | $ 718 | $ 0 | |
| Dividend yield | 0.00% | |||
| Restricted Stock Units | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Weighted-average grant-date fair value granted | $ 1.32 | $ 7.43 | $ 6.69 | |
| Total fair value vested | $ 8,692 | $ 7,943 | $ 14,576 | |
| Granted | 4,810 | |||
| Vested | 1,318 | |||
| Incremental shares vested | $ 6.59 | |||
| Performance-based Stock Unit | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Expected term (years) | 3 years | 3 years | ||
| Weighted-average grant-date fair value granted | $ 1.86 | $ 13.8 | ||
| Granted | 598 | 239 | 0 | 280 |
| Vested | 0 | 0 | 0 | |
| Estimated fair value, per share | $ 1.86 | $ 13.8 | ||
| Volatility rate | 97.80% | 86.20% | ||
| Risk-free interest rate | 4.59% | 3.79% | ||
| Dividend yield | 0.00% | 0.00% | ||
| Minimum | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Expected term (years) | 6 years | |||
| Minimum | Employee Stock Option | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Vesting period (years) | 3 years | 3 years | 3 years | |
| Expiration term (years) | 7 years | 7 years | 7 years | |
| Minimum | Restricted Stock Units | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Vesting period (years) | 1 year | 1 year | 1 year | |
| Maximum | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Expected term (years) | 7 years | |||
| Maximum | Employee Stock Option | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Vesting period (years) | 4 years | 4 years | 4 years | |
| Expiration term (years) | 10 years | 10 years | 10 years | |
| Maximum | Restricted Stock Units | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Vesting period (years) | 3 years | 3 years | 3 years | |
| Employees and Third Parties, Excluding Directors | Selling, General and Administrative Expenses | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Share-based compensation expense | $ 7,583 | $ 10,715 | $ 12,333 | |
| Share-based compensation expense attributable to post combination vesting | $ 3,882 | |||
| 2014 Stock Incentive Plan | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Maximum number of shares of common stock available for grant | 12,500 | |||
| 2014 Stock Incentive Plan | Board of Directors | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Share based compensation, fully-vested shares granted | 53 | 70 | 77 | |
| Share based compensation, value of fully-vested shares granted | $ 181 | $ 404 | $ 624 | |
| 2014 Stock Incentive Plan | Deferred Stock Units | Board of Directors | ||||
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
| Share based compensation, fully-vested shares granted | 89 | 54 | 27 | |
| Share based compensation, fully-vested shares settled | 0 | 23 | ||
| Share based compensation, value of fully-vested shares granted | $ 809 | $ 373 | $ 174 | |
Stock Plans - Weighted Average Assumptions Used to Estimate Fair Value of Option Award on Grant Date (Detail) |
12 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
| Dividend yield | 0.00% |
| Volatility, minimum | 57.00% |
| Volatility, maximum | 57.10% |
| Risk-free interest rate, minimum | 2.36% |
| Risk-free interest rate, maximum | 2.86% |
| Minimum | |
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
| Expected term (years) | 6 years |
| Maximum | |
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
| Expected term (years) | 7 years |
Stock Plans - Summary of Option Activity (Detail) shares in Thousands |
12 Months Ended |
|---|---|
|
Dec. 28, 2024
$ / shares
shares
| |
| Shares | |
| Beginning Balance | shares | 6,951 |
| Cancelled | shares | (1,919) |
| Ending Balance | shares | 5,032 |
| Exercisable at December 28, 2024 | shares | 5,002 |
| Weighted-Average Exercise Price | |
| Beginning Balance | $ / shares | $ 34.57 |
| Cancelled | $ / shares | 38.4 |
| Ending Balance | $ / shares | 33.12 |
| Exercisable at December 28, 2024 | $ / shares | $ 33.27 |
| Weighted-Average Remaining Contractual Life, Outstanding at December 28, 2024 | 1 year 10 months 24 days |
| Weighted-Average Remaining Contractual Life, Exercisable at December 28, 2024 | 1 year 10 months 24 days |
Stock Plans - Summary of RSU Activity Under Stock Plans (Detail) - Restricted Stock Units - $ / shares shares in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Shares | |||
| Beginning Balance | 2,657 | ||
| Granted | 4,810 | ||
| Vested | (1,318) | ||
| Forfeited | (2,061) | ||
| Ending Balance | 4,088 | 2,657 | |
| Weighted-Average Grant-Date Fair Value | |||
| Beginning Balance | $ 7.75 | ||
| Granted | 1.32 | $ 7.43 | $ 6.69 |
| Vested | 6.59 | ||
| Forfeited | 4.76 | ||
| Ending Balance | $ 2.06 | $ 7.75 | |
Stock Plans - Summary of PSU Activity Under Stock Plans (Detail) - Performance-Based Stock Units - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Shares | |||
| Beginning Balance | 215 | ||
| Granted | 598 | ||
| Vested | 0 | 0 | 0 |
| Forfeited | (655) | ||
| Ending Balance | 158 | 215 | |
| Weighted-Average Grant-Date Fair Value | |||
| Beginning Balance | $ 13.8 | ||
| Granted | 1.86 | $ 13.8 | |
| Forfeited | 5.78 | ||
| Ending Balance | $ 1.86 | $ 13.8 | |
Taxes - Components of Consolidated Income Before Income Taxes (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| Domestic | $ (358,108) | $ (222,260) | $ (376,710) |
| Foreign | 12,933 | 148,628 | 9,907 |
| Loss before income taxes | $ (345,175) | $ (73,632) | $ (366,803) |
Taxes - Summary of Consolidated Provision for (Benefit from) U.S. Federal, State and Foreign Income Taxes (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Current: | |||
| U.S. federal | $ 6,369 | $ 1,330 | $ 12,426 |
| State | 1,519 | 1,947 | 3,446 |
| Foreign | 19,216 | 15,525 | 20,022 |
| Current tax provision (benefit) | 27,104 | 18,802 | 35,894 |
| Deferred: | |||
| U.S. federal | (6,856) | (12,419) | (110,611) |
| State | (8,420) | 4,263 | (23,213) |
| Foreign | (11,302) | 27,977 | (12,005) |
| Deferred tax provision (benefit) | (26,578) | 19,821 | (145,829) |
| Total provision for (benefit from) income taxes | $ 526 | $ 38,623 | $ (109,935) |
Taxes - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Income Taxes [Line Items] | |||
| Effective income tax rate | (0.20%) | (52.50%) | 30.00% |
| Tax benefit from legal entity restructuring | $ 45,748 | ||
| Tax expense related to share-based awards | $ 5,342 | 1,732 | |
| Tax expense related to income earned in foreign jurisdictions | $ 12,172 | 2,245 | |
| Tax benefit related to state tax | 15,689 | 9,441 | |
| Tax benefit related to foreign-derived intangible income | 3,976 | 2,637 | 4,450 |
| Tax expense from change in valuation allowance | 87,624 | 53,626 | 27,108 |
| Deferred tax assets, valuation allowance | 178,451 | 89,801 | |
| Valuation allowance on remaining U.S. deferred tax assets | 30,331 | ||
| Additional valuation allowance on U.S. deferred tax assets | 88,650 | ||
| Net operating loss carry forwards | 110,471 | 107,415 | |
| Undistributed foreign earnings | 114,545 | ||
| Total amount of unrecognized tax benefits, if recognized, would affect effective tax rate | 424 | ||
| Unrecognized tax benefits, accrued interest and penalties | 33 | 83 | |
| Unrecognized tax benefits, interest and penalties recognized | (50) | 0 | (60) |
| Unrecognized tax benefits would reduce due to resolution of open tax matters | $ 120 | ||
| Business Interest Expense Carryforwards | |||
| Income Taxes [Line Items] | |||
| Deferred tax assets, valuation allowance | $ 27,108 | ||
| Increase in valuation allowance | $ 20,268 | ||
Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| U.S. federal statutory tax rate | 21.00% | 21.00% | 21.00% |
| State income taxes (net of federal benefit) | 4.60% | 12.80% | 3.80% |
| Research and development credit | 0.40% | 3.00% | 0.40% |
| Tax windfall/shortfall on share-based awards | (1.50%) | (0.90%) | (0.50%) |
| Tax rate changes | 0.00% | (0.10%) | 0.30% |
| Executive compensation limitation | (0.40%) | (1.40%) | (0.20%) |
| FDII | 1.20% | 3.60% | 1.20% |
| Change in valuation allowance | (25.40%) | (72.80%) | (7.10%) |
| Impact of foreign operations | (0.30%) | (16.50%) | (1.60%) |
| Reversal of certain deferred tax liabilities | 0.00% | 0.00% | 12.50% |
| Nondeductible costs | 0.00% | (1.30%) | 0.00% |
| Other | 0.20% | 0.10% | 0.20% |
| Total effective tax rate | (0.20%) | (52.50%) | 30.00% |
Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Interest expense disallowance | $ 101,563 | $ 76,350 |
| Operating lease liabilities | 13,672 | 16,174 |
| Operating loss carryforwards | 11,703 | 12,446 |
| Provision for estimated expenses | 2,916 | 3,657 |
| Salaries and wages | 8,904 | 13,489 |
| Share-based compensation | 9,553 | 14,920 |
| Other comprehensive income | 6,995 | 3,833 |
| Capitalized research and development expenses | 34,767 | |
| Other | 12,045 | 4,287 |
| Less: valuation allowance | (178,451) | (89,801) |
| Total deferred tax assets | 23,667 | 55,355 |
| Goodwill and intangible assets | (663) | (47,323) |
| Operating lease assets | (10,941) | (13,285) |
| Depreciation | (9,000) | (12,749) |
| Termination fee | (3,408) | |
| Prepaid expenses | (1,289) | (900) |
| Total deferred tax liabilities | (21,893) | (77,665) |
| Net deferred tax assets | $ 1,774 | |
| Net deferred tax liabilities | $ (22,310) |
Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| Balance at beginning of year | $ 613 | $ 611 | $ 1,055 |
| Increases related to tax positions taken in current year | 145 | ||
| Increases related to tax positions taken in prior years | 9 | 8 | |
| Reductions related to tax positions taken in prior years | (9) | (95) | |
| Reductions related to settlements with tax authorities | (273) | ||
| Reductions related to lapse of statutes of limitations | (99) | (206) | |
| Effects of foreign currency translation | (6) | 2 | (23) |
| Balance at end of year | $ 508 | $ 613 | $ 611 |
Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Profit Sharing Plan | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| Employee benefit plans, contribution cost | $ 0 | $ 0 | $ 179 |
| Executive Profit Sharing Plan | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| Employee benefit plans, contribution cost | $ 631 | $ 1,005 | $ 929 |
| EPSP annualized interest rate, added percentage above prime rate | 2.00% | ||
| Maximum | Executive Profit Sharing Plan | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| EPSP annualized interest rate cap | 15.00% | ||
| Savings Plan | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| Employee benefit plans, employer contribution percentage | 6.00% | 6.00% | 6.00% |
| Employee benefit plans, contribution cost | $ 2,462 | $ 3,227 | $ 2,564 |
| Savings Plan | Maximum | |||
| Defined Contribution Plan Disclosure [Line Items] | |||
| Employee benefit plans, employer matching contribution percentage | 50.00% | 50.00% | 50.00% |
Cash Flow Information - Schedule of Cash Flow, Supplemental Disclosures (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|||
| Net cash paid during the year for: | |||||
| Interest | $ 96,844 | $ 91,614 | $ 76,216 | ||
| Income taxes | [1] | 11,499 | 30,908 | 25,815 | |
| Noncash investing and financing activities were as follows: | |||||
| Fair value of net assets acquired in connection with acquisitions | 7,256 | 240 | |||
| Capital expenditures and capitalized software included in accounts payable and accrued expenses | $ 75 | 802 | $ 1,466 | ||
| Common stock issued in connection with acquisition of Sequence | $ 32,943 | ||||
| |||||
Cash Flow Information - Schedule of Cash Flow, Supplemental Disclosures (Parenthetical) (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Supplemental Cash Flow Elements [Abstract] | |||
| Tax refunds received | $ 15,421 | $ 7,054 | $ 5,109 |
Cash Flow Information - Schedule of Cash and Cash Equivalents And Restricted Cash (Details) - USD ($) $ in Thousands |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Cash and Cash Equivalents [Abstract] | ||
| Cash and cash equivalents | $ 53,024 | $ 109,366 |
| Restricted cash included in "Prepaid expenses and other current assets" | 3,003 | |
| Restricted cash included in "Other noncurrent assets" | 493 | |
| Total cash and cash equivalents and restricted cash | $ 56,520 | $ 109,366 |
Commitments and Contingencies - Additional Information (Detail) $ in Thousands |
Dec. 28, 2024
USD ($)
|
|---|---|
| Commitments and Contingencies [Line Items] | |
| Minimum commitments under non-cancelable purchase obligations | $ 13,726 |
| Minimum commitments under non-cancelable purchase obligations, due in 2025 | 9,483 |
| Minimum commitments under non-cancelable purchase obligations, due in 2026 | 1,981 |
| Minimum commitments under non-cancelable purchase obligations, due in 2027 | 1,696 |
| Minimum commitments under non-cancelable purchase obligations, due in 2028 | $ 566 |
Segment and Geographic Data - Additional Information (Detail) |
12 Months Ended |
|---|---|
|
Dec. 28, 2024
Segment
| |
| Segment Reporting [Abstract] | |
| Number of reportable segments | 1 |
| Number of operating segments | 1 |
Segment and Geographic Data - Sources of Revenue and Other Information by Geographic Area (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|||
| Revenues From External Customers And Long Lived Assets [Line Items] | |||||
| Revenues, net | $ 785,921 | $ 889,551 | $ 1,039,835 | ||
| Long-lived assets | [1] | 15,798 | 19,741 | ||
| Operating lease assets | 42,047 | 52,272 | |||
| United States | |||||
| Revenues From External Customers And Long Lived Assets [Line Items] | |||||
| Revenues, net | 541,973 | 604,441 | 682,428 | ||
| Long-lived assets | [1] | 15,037 | 18,171 | ||
| Operating lease assets | 39,939 | 48,870 | |||
| Germany | |||||
| Revenues From External Customers And Long Lived Assets [Line Items] | |||||
| Revenues, net | 82,649 | 97,085 | 116,452 | ||
| Long-lived assets | [1] | 257 | 418 | ||
| Operating lease assets | 130 | 446 | |||
| Other | |||||
| Revenues From External Customers And Long Lived Assets [Line Items] | |||||
| Revenues, net | 161,299 | 188,025 | $ 240,955 | ||
| Long-lived assets | [1] | 504 | 1,152 | ||
| Operating lease assets | $ 1,978 | $ 2,956 | |||
| |||||
Fair Value Measurements - Additional Information (Detail) - USD ($) |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Debt outstanding amount | $ 1,430,643,000 | $ 1,426,464,000 |
| Fair value of long-term debt | 320,174,000 | 996,429,000 |
| Fair value assets, transfer between level 1 to level 2 | 0 | 0 |
| Fair value liabilities, transfer between level 1 to level 2 | 0 | 0 |
| Fair value assets, transfer between level 2 to level 1 | 0 | 0 |
| Fair value liabilities, transfer between level 2 to level 1 | 0 | 0 |
| Revolving Credit Facility | ||
| Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
| Carrying value of long-term debt | 0 | 0 |
| Debt outstanding amount | $ 0 | $ 0 |
Fair Value Measurements - Aggregate Fair Value of Derivative Financial Instruments (Detail) - Fair Value, Measurements, Recurring - Interest Rate Swaps $ in Thousands |
Dec. 30, 2023
USD ($)
|
|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |
| Interest rate swaps current asset | $ 3,555 |
| Fair Value Measurements Using Significant Other Observable Inputs (Level 2) | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |
| Interest rate swaps current asset | $ 3,555 |
Derivative Instruments and Hedging - Additional Information (Detail) - Interest Rate Swaps - USD ($) |
Mar. 31, 2021 |
Apr. 02, 2020 |
Jun. 07, 2019 |
Jun. 11, 2018 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|---|---|---|---|
| Derivative | ||||||
| Cumulative gain for qualifying hedges reported as a component of accumulated other comprehensive loss net of tax | $ 0 | $ 2,716,000 | ||||
| Cumulative gain for qualifying hedges reported as a component of accumulated other comprehensive loss before tax | 3,474,000 | |||||
| 2018 Swap | ||||||
| Derivative | ||||||
| Forward-starting interest rate swap, effective date | Apr. 02, 2020 | |||||
| Forward starting interest rate swap, termination date | Mar. 31, 2024 | |||||
| Derivative interest rate swap percentage | 3.1513% | |||||
| 2019 Swap | ||||||
| Derivative | ||||||
| Forward-starting interest rate swap, effective date | Apr. 02, 2020 | |||||
| Forward starting interest rate swap, termination date | Mar. 31, 2024 | |||||
| Derivative interest rate swap percentage | 1.9645% | |||||
| Cash Flow Hedging | ||||||
| Derivative | ||||||
| Notional amount | $ 0 | $ 500,000,000 | ||||
| Cash Flow Hedging | 2018 Swap | ||||||
| Derivative | ||||||
| Notional amount | $ 250,000,000 | $ 500,000,000 | $ 500,000,000 | |||
| Forward-starting interest rate swap, effective date | Mar. 31, 2021 | Apr. 02, 2020 | ||||
| Cash Flow Hedging | 2019 Swap | ||||||
| Derivative | ||||||
| Notional amount | $ 250,000,000 |
Derivative Instruments and Hedging - Aggregate Fair Value of Derivative Financial Instruments by Balance Sheet Classification and Location (Detail) $ in Thousands |
Dec. 30, 2023
USD ($)
|
|---|---|
| Derivative [Line Items] | |
| Derivative assets | $ 3,555 |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Assets |
| Interest Rate Swaps | |
| Derivative [Line Items] | |
| Derivative assets, current | $ 3,555 |
| Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] | Prepaid Expense and Other Assets, Current |
Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands |
12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 28, 2024 |
[1] | Dec. 30, 2023 |
Dec. 31, 2022 |
|||||||||||||||
| Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||||||||||||
| Other comprehensive income (loss) before reclassifications, net of tax | $ (11,882) | $ 3,908 | [2] | $ 10,818 | [3] | |||||||||||||
| Amounts reclassified from accumulated other comprehensive loss, net of tax | (2,650) | [4] | (9,738) | [2],[5] | 2,316 | [3],[6] | ||||||||||||
| Net current period other comprehensive income (loss) | (14,532) | (5,830) | [2] | 13,134 | [3] | |||||||||||||
| Gain (Loss) on Qualifying Hedges | ||||||||||||||||||
| Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||||||||||||
| Beginning Balance | 2,716 | 10,723 | [2] | (10,843) | [3] | |||||||||||||
| Other comprehensive income (loss) before reclassifications, net of tax | (66) | 1,731 | [2] | 19,250 | [3] | |||||||||||||
| Amounts reclassified from accumulated other comprehensive loss, net of tax | (2,650) | [4] | (9,738) | [2],[5] | 2,316 | [3],[6] | ||||||||||||
| Net current period other comprehensive income (loss) | (2,716) | (8,007) | [2] | 21,566 | [3] | |||||||||||||
| Ending balance | 2,716 | [1] | 10,723 | [2] | ||||||||||||||
| Loss on Foreign Currency Translation | ||||||||||||||||||
| Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||||||||||||
| Beginning Balance | (14,016) | (16,193) | [2] | (7,761) | [3] | |||||||||||||
| Other comprehensive income (loss) before reclassifications, net of tax | (11,816) | 2,177 | [2] | (8,432) | [3] | |||||||||||||
| Net current period other comprehensive income (loss) | (11,816) | 2,177 | [2] | (8,432) | [3] | |||||||||||||
| Ending balance | (25,832) | (14,016) | [1] | (16,193) | [2] | |||||||||||||
| Accumulated Other Comprehensive Loss | ||||||||||||||||||
| Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||||||||||||
| Beginning Balance | (11,300) | (5,470) | [2] | (18,604) | [3] | |||||||||||||
| Ending balance | $ (25,832) | $ (11,300) | [1] | $ (5,470) | [2] | |||||||||||||
| ||||||||||||||||||
Accumulated Other Comprehensive Loss - Reclassifications out of Accumulated Other Comprehensive Loss (Detail) - Interest Rate Contracts - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|||
| Interest Expense | |||||
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
| Gain (Loss) on Qualifying Hedges | [1] | $ 3,545 | $ 12,980 | $ (3,090) | |
| Loss Before Income Taxes | |||||
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
| Gain (Loss) on Qualifying Hedges | [1] | 3,545 | 12,980 | (3,090) | |
| Provision for (benefit from) income taxes | |||||
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
| Gain (Loss) on Qualifying Hedges | [1] | (895) | (3,242) | 774 | |
| Net loss | |||||
| Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
| Gain (Loss) on Qualifying Hedges | [1] | $ 2,650 | $ 9,738 | $ (2,316) | |
| |||||
Related Party - Additional Information (Detail) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Oct. 18, 2015 |
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| Related Party Transaction [Line Items] | ||||
| Initial agreement term | 5 years | |||
| Services provided by related party | $ 217,825,000 | $ 264,950,000 | $ 263,840,000 | |
| Ms. Winfrey And Her Related Entities | Related Party | ||||
| Related Party Transaction [Line Items] | ||||
| Services provided by related party | 292,000 | 574,000 | $ 861,000 | |
| Accounts payable to related party | $ 13,000 | $ 0 | ||
Restructuring - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | 24 Months Ended | 27 Months Ended | 33 Months Ended | ||
|---|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
Dec. 28, 2024 |
Dec. 28, 2024 |
Dec. 28, 2024 |
|
| 2024 Plan | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 17,043 | |||||
| 2024 Plan | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | 17,043 | |||||
| 2023 Plan | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 5,122 | $ 53,743 | $ 13,608 | |||
| 2023 Plan | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 72,473 | |||||
| 2023 Plan | Other Cash Restructuring Charges | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 2,158 | |||||
| 2023 Plan | Non-cash Restructuring Charges | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | 6,662 | |||||
| 2023 Plan | Real Estate Restructuring | Lease Termination Costs | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 12,789 | |||||
| 2023 Plan | Real Estate Restructuring | Employee Termination Benefit Costs | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | 9,914 | |||||
| 2023 Plan | Organizational Restructuring | Employee Termination Benefit Costs | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 40,950 | |||||
| 2022 Plan | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 27,181 | |||||
| 2022 Plan | Cumulative Amount Incurred | ||||||
| Restructuring Cost And Reserve [Line Items] | ||||||
| Restructuring charges | $ 28,324 | |||||
Restructuring - Components of Restructuring Charges (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| 2024 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 17,043 | ||
| 2024 Plan | Lease Termination Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 168 | ||
| 2024 Plan | Employee Termination Benefit Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 15,734 | ||
| 2024 Plan | Other Cash Restructuring Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 1,141 | ||
| 2023 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 5,097 | $ 47,106 | $ 13,608 |
| Non-cash restructuring charges | 25 | 6,637 | |
| Total restructuring charges | 5,122 | 53,743 | 13,608 |
| 2023 Plan | Other Cash Restructuring Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 581 | 1,577 | |
| 2023 Plan | Accelerated Depreciation And Amortization Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Non-cash restructuring charges | 6,831 | ||
| 2023 Plan | Other Non-cash Restructuring Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Non-cash restructuring charges | (194) | ||
| 2023 Plan | Real Estate Restructuring | Lease Termination Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | (135) | 12,924 | |
| 2023 Plan | Real Estate Restructuring | Employee Termination Benefit Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 2,438 | 5,678 | 1,798 |
| 2023 Plan | Organizational Restructuring | Employee Termination Benefit Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | $ 2,213 | $ 26,927 | 11,810 |
| 2022 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 22,589 | ||
| Non-cash restructuring charges | 4,592 | ||
| Total restructuring charges | 27,181 | ||
| 2022 Plan | Lease Termination Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 2,424 | ||
| 2022 Plan | Employee Termination Benefit Costs | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 19,170 | ||
| 2022 Plan | Other Cash Restructuring Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Cash restructuring charges | 995 | ||
| 2022 Plan | Lease Impairments | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Non-cash restructuring charges | 2,680 | ||
| 2022 Plan | Accelerated Depreciation And Amortization Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Non-cash restructuring charges | 1,453 | ||
| 2022 Plan | Other Non-cash Restructuring Charges | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Non-cash restructuring charges | $ 459 | ||
Restructuring - Schedule of Restructuring Charges (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|
| 2024 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 17,043 | ||
| 2024 Plan Cost of Revenues | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 2,497 | ||
| Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of Goods and Services Sold | ||
| 2024 Plan Selling, General and Administrative Expenses | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 14,546 | ||
| Restructuring, Name of Segment [Extensible Enumeration] | Selling, General and Administrative Expense | ||
| 2023 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 5,122 | $ 53,743 | $ 13,608 |
| 2023 Plan Cost of Revenues | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 2,510 | $ 21,116 | $ 1,798 |
| Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of Goods and Services Sold | Cost of Goods and Services Sold | Cost of Goods and Services Sold |
| 2023 Plan Selling, General and Administrative Expenses | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 2,612 | $ 32,627 | $ 11,810 |
| Restructuring, Name of Segment [Extensible Enumeration] | Selling, General and Administrative Expense | Selling, General and Administrative Expense | Selling, General and Administrative Expense |
| 2022 Plan | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 27,181 | ||
| 2022 Plan Cost of Revenues | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 6,476 | ||
| Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] | Cost of Goods and Services Sold | ||
| 2022 Plan Selling, General and Administrative Expenses | |||
| Restructuring Cost And Reserve [Line Items] | |||
| Total restructuring charges | $ 20,705 | ||
| Restructuring, Name of Segment [Extensible Enumeration] | Selling, General and Administrative Expense | ||
Restructuring - Schedule of Restructuring-related Liabilities (Detail) - USD ($) $ in Thousands |
12 Months Ended | 24 Months Ended | ||
|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
Dec. 28, 2024 |
|
| Employee Termination Benefit Costs | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Payments | $ (30,716) | |||
| 2024 Plan | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 17,043 | |||
| 2024 Plan | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 16,829 | |||
| Payments | (9,731) | |||
| Change in estimate | 214 | |||
| Ending Balance | 7,312 | $ 7,312 | ||
| 2024 Plan | Lease Termination Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 168 | |||
| Ending Balance | 168 | 168 | ||
| 2024 Plan | Employee Termination Benefit Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 15,520 | |||
| Payments | (8,590) | |||
| Change in estimate | 214 | |||
| Ending Balance | 7,144 | 7,144 | ||
| 2024 Plan | Other Cash Restructuring Charges | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 1,141 | |||
| Payments | (1,141) | |||
| 2023 Plan | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 5,122 | $ 53,743 | $ 13,608 | |
| 2023 Plan | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 26,758 | 13,608 | 13,608 | |
| Restructuring charges | 5,491 | 47,106 | ||
| Payments | (22,123) | (33,956) | ||
| Change in estimate | (394) | |||
| Ending Balance | 9,732 | 26,758 | 13,608 | 9,732 |
| 2023 Plan | Other Cash Restructuring Charges | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 344 | |||
| Restructuring charges | 581 | 1,577 | ||
| Payments | (925) | (1,233) | ||
| Ending Balance | 344 | |||
| 2023 Plan | Real Estate Restructuring | Lease Termination Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 156 | |||
| Restructuring charges | 12,924 | |||
| Payments | (21) | (12,768) | ||
| Change in estimate | (135) | |||
| Ending Balance | 156 | |||
| 2023 Plan | Real Estate Restructuring | Employee Termination Benefit Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 2,663 | 1,798 | 1,798 | |
| Restructuring charges | 2,363 | 5,678 | ||
| Payments | (1,835) | (4,813) | ||
| Change in estimate | 75 | |||
| Ending Balance | 3,266 | 2,663 | 1,798 | 3,266 |
| 2023 Plan | Organizational Restructuring | Employee Termination Benefit Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 23,595 | 11,810 | 11,810 | |
| Restructuring charges | 2,547 | 26,927 | ||
| Payments | (19,342) | (15,142) | ||
| Change in estimate | (334) | |||
| Ending Balance | 6,466 | 23,595 | 11,810 | 6,466 |
| 2022 Plan | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Restructuring charges | 27,181 | |||
| 2022 Plan | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 941 | 9,803 | 9,803 | |
| Restructuring charges | 22,589 | |||
| Payments | (949) | (9,997) | (12,786) | |
| Change in estimate | 8 | 1,135 | ||
| Ending Balance | 941 | 9,803 | ||
| 2022 Plan | Lease Termination Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 547 | 547 | ||
| Restructuring charges | 2,424 | |||
| Payments | (122) | (1,877) | ||
| Change in estimate | (425) | |||
| Ending Balance | 547 | |||
| 2022 Plan | Employee Termination Benefit Costs | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 941 | 8,261 | 8,261 | |
| Restructuring charges | 19,170 | |||
| Payments | (949) | (8,880) | (10,909) | |
| Change in estimate | $ 8 | 1,560 | ||
| Ending Balance | 941 | 8,261 | ||
| 2022 Plan | Other Cash Restructuring Charges | Cash Restructuring-Related Liabilities Roll-Forward | ||||
| Restructuring Cost and Reserve [Line Items] | ||||
| Beginning Balance | 995 | $ 995 | ||
| Restructuring charges | 995 | |||
| Payments | $ (995) | |||
| Ending Balance | $ 995 | |||
Subsequent Event - Additional Information (Details) - USD ($) $ in Thousands |
Feb. 28, 2025 |
Feb. 26, 2025 |
Jan. 31, 2025 |
Jan. 02, 2025 |
Dec. 28, 2024 |
Dec. 30, 2023 |
|---|---|---|---|---|---|---|
| Subsequent Event [Line Items] | ||||||
| Loan outstanding amount | $ 1,445,000 | $ 1,445,000 | ||||
| Revolving Credit Facility | ||||||
| Subsequent Event [Line Items] | ||||||
| Loan outstanding amount | 0 | |||||
| Line of credit facility, issued but undrawn letters of credit | $ 1,159 | |||||
| Subsequent Event | Ms. Tara Comonte | Employment Agreement | ||||||
| Subsequent Event [Line Items] | ||||||
| Cash award payable | $ 4,500 | |||||
| Subsequent Event | Revolving Credit Facility | ||||||
| Subsequent Event [Line Items] | ||||||
| Loan outstanding amount | $ 121,341 | $ 50,000 | ||||
| Aggregate principal amount of borrowings | $ 175,000 | |||||
| Line of credit facility, issued but undrawn letters of credit | $ 3,659 |
Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 28, 2024 |
Dec. 30, 2023 |
Dec. 31, 2022 |
|||
| Allowance for credit losses | |||||
| Valuation And Qualifying Accounts Disclosure [Line Items] | |||||
| Balance at Beginning of Period | $ 1,041 | $ 976 | $ 1,726 | ||
| Additions charged to Costs and Expenses | 17,205 | 1,306 | (460) | ||
| Deductions | [1] | (15,080) | (1,241) | (290) | |
| Balance at End of Period | 3,166 | 1,041 | 976 | ||
| Inventory and other reserves | |||||
| Valuation And Qualifying Accounts Disclosure [Line Items] | |||||
| Balance at Beginning of Period | 8,888 | 6,468 | 7,141 | ||
| Additions charged to Costs and Expenses | 72 | 7,350 | 6,796 | ||
| Deductions | [1] | (5,028) | (4,930) | (7,469) | |
| Balance at End of Period | 3,932 | 8,888 | 6,468 | ||
| Tax valuation allowance | |||||
| Valuation And Qualifying Accounts Disclosure [Line Items] | |||||
| Balance at Beginning of Period | 89,801 | 35,818 | 10,083 | ||
| Additions charged to Costs and Expenses | 83,431 | 53,946 | 27,871 | ||
| Additions charged to Other Accounts | 6,068 | 110 | (143) | ||
| Deductions | [1] | (849) | (73) | (1,993) | |
| Balance at End of Period | $ 178,451 | $ 89,801 | $ 35,818 | ||
| |||||