What was the total finance lease cost for Noodles & Company for the year ended January 3, 2023?
Noodles_Company Franchise · 2025 FDDAnswer from 2025 FDD Document
s | | 1,976 | 2,337 | | Long-term lease liabilities | | | | | | Operating | Long-term operating lease liabilities | | 156,723 | 186,285 | | Finance | Other long-term liabilities | | 2,014 | 1,469 | | Total lease liabilities | | $ | 192,768 | $ 220,195 | The components of lease costs are as follows (in thousands):
| Year Ended | Year Ended | Year Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Classification | December 31, 2024 | January 2, 2024 | January 3, 2023 | ||||||
| Operating lease cost | Occupancy, other restaurant operating costs, general and administrative expenses, and pre-opening costs Closure costs, loss on disposals and other | $ 39,416 2,833 | $ | 39,192 2,929 | $ | 38,514 3,071 | |||
| Finance lease cost | |||||||||
| Amortization of lease | Depreciation and amortization | 2,243 | 2,270 | 2,250 | |||||
| assets |
Source: Item 22 — CONTRACTS (FDD pages 98–99)
What This Means (2025 FDD)
According to Noodles & Company's 2025 Franchise Disclosure Document, information regarding the finance lease cost for the year ended January 3, 2023, is not explicitly detailed in the provided table. However, the table does provide context for other lease-related expenses.
The table presents data for operating lease costs, which include occupancy and other restaurant operating costs, general and administrative expenses, pre-opening costs, and closure costs, as well as loss on disposals. For the year ended January 3, 2023, these operating lease costs amounted to $38,514 for the first category and $3,071 for the second category. Additionally, the table includes figures for the amortization of lease assets ($2,250) and interest on lease liabilities ($401) for the same period.
While the specific 'finance lease cost' is not listed as a separate line item for January 3, 2023, the document provides related data points that could be relevant in understanding the overall lease obligations of Noodles & Company. A prospective franchisee should inquire with Noodles & Company about the specific finance lease costs to gain a clearer picture of the company's financial obligations and how these costs might impact their investment.