Krispy Kreme (DNUT) 10-Q9 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-40573
Entity Registrant Name	Krispy Kreme, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1701311
Entity Address, Address Line One	2116 Hawkins Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	800
Local Phone Number	457-4779
Title of 12(b) Security	Common stock, $0.01 par value per share
Entity Trading Symbol	DNUT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		168,700,000
Entity Central Index Key	0001857154
Current Fiscal Year End Date	--12-29
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Total net revenues	$ 442,698	$ 418,950
Product and distribution costs	107,015	117,833
Operating expenses	205,195	191,408
Selling, general and administrative expense	71,574	61,468
Marketing expenses	12,115	9,853
Pre-opening costs	1,105	764
Other expenses/(income), net	200	(5,263)
Depreciation and amortization expense	33,586	27,939
Operating income	11,908	14,948
Interest expense, net	13,736	11,988
Other non-operating expense, net	573	999
(Loss)/income before income taxes	(2,401)	1,961
Income tax expense	4,262	317
Net (loss)/income	(6,663)	1,644
Net income attributable to noncontrolling interest	1,871	1,945
Net loss attributable to Krispy Kreme, Inc.	$ (8,534)	$ (301)
Net loss per share:
Common stock — Basic (in dollars per share)	$ (0.05)	$ 0
Common stock — Diluted (in dollars per share)	$ (0.05)	$ 0
Weighted average shares outstanding:
Basic (in shares)	168,685	168,141
Diluted (in shares)	168,685	168,141
Product sales
Total net revenues	$ 433,512	$ 410,674
Royalties and other revenues
Total net revenues	$ 9,186	$ 8,276

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net (loss)/income		$ (6,663)	$ 1,644
Other comprehensive (loss)/income, net of income taxes:
Foreign currency translation adjustment		(6,069)	11,092
Unrealized loss on cash flow hedges, net of income taxes (1)	[1]	(2,684)	(2,967)
Total other comprehensive (loss)/income		(8,753)	8,125
Comprehensive (loss)/income		(15,416)	9,769
Net income attributable to noncontrolling interest		1,871	1,945
Foreign currency translation adjustment attributable to noncontrolling interest		(299)	(108)
Total comprehensive income attributable to noncontrolling interest		1,572	1,837
Comprehensive (loss)/income attributable to Krispy Kreme, Inc.		$ (16,988)	$ 7,932

[1] Net of income tax benefit of $0.9 million and $1.0 million for the quarters ended March 31, 2024, and April 2, 2023, respectively.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Unrealized income on cash flow hedges, tax expense (benefit)	$ 0.9	$ 1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 33,132	$ 38,185
Restricted cash	480	429
Accounts receivable, net	57,287	59,362
Inventories	39,257	34,716
Taxes receivable	18,397	15,526
Prepaid expense and other current assets	25,461	25,363
Total current assets	174,014	173,581
Property and equipment, net	543,100	538,220
Goodwill	1,098,826	1,101,939
Other intangible assets, net	938,847	946,349
Operating lease right of use asset, net	456,810	456,964
Other assets	22,721	23,539
Total assets	3,234,318	3,240,592
Current liabilities:
Current portion of long-term debt	60,326	54,631
Current operating lease liabilities	50,275	50,365
Accounts payable	128,555	156,488
Accrued liabilities	117,093	134,005
Structured payables	133,809	130,104
Total current liabilities	490,058	525,593
Long-term debt, less current portion	881,778	836,615
Noncurrent operating lease liabilities	454,265	454,583
Deferred income taxes, net	123,203	123,925
Other long-term obligations and deferred credits	37,127	36,093
Total liabilities	1,986,431	1,976,809
Commitments and contingencies
Shareholders’ equity:
Common stock, $0.01 par value; 300,000 shares authorized as of both March 31, 2024 and December 31, 2023; 168,731 and 168,628 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	1,687	1,686
Additional paid-in capital	1,449,773	1,443,591
Shareholder note receivable	(3,629)	(3,850)
Accumulated other comprehensive (loss)/income, net of income tax	(1,208)	7,246
Retained deficit	(293,430)	(278,990)
Total shareholders’ equity attributable to Krispy Kreme, Inc.	1,153,193	1,169,683
Noncontrolling interest	94,694	94,100
Total shareholders’ equity	1,247,887	1,263,783
Total liabilities and shareholders’ equity	$ 3,234,318	$ 3,240,592

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	168,731	168,628
Common stock, shares outstanding (in shares)	168,731	168,628

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Shareholder Note Receivable	Foreign Currency Translation Adjustment	Unrealized (Loss)/Income on Cash Flow Hedges	Unrealized Loss on Employee Benefit Plans	Retained (Deficit)/Earnings	Noncontrolling Interest
Beginning balance (in shares) at Jan. 01, 2023			168,137
Beginning balance at Jan. 01, 2023		$ 1,298,875	$ 1,681	$ 1,426,105	$ (4,813)	$ (23,028)	$ 14,251	$ (374)	$ (217,490)	$ 102,543
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		1,644							(301)	1,945
Other comprehensive income/(loss), before reclassifications		10,311				11,200	(781)			(108)
Reclassification from AOCI		(2,186)					(2,186)
Share-based compensation		5,545		5,545
Dividends declared on common stock and equivalents		(5,884)							(5,884)
Distribution to noncontrolling interest		(1,139)			0					(1,139)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			39
Issuance of common stock upon settlement of RSUs, net of shares withheld		0	$ 1	(1)
Other		(16)		0	(17)				1
Ending balance (in shares) at Apr. 02, 2023			168,176
Ending balance at Apr. 02, 2023		$ 1,307,150	$ 1,682	1,431,649	(4,830)	(11,828)	11,284	(374)	(223,674)	103,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035
Beginning balance (in shares) at Dec. 31, 2023		168,628	168,628
Beginning balance at Dec. 31, 2023		$ 1,263,783	$ 1,686	1,443,591	(3,850)	1,985	5,629	(368)	(278,990)	94,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income		(6,663)							(8,534)	1,871
Other comprehensive income/(loss), before reclassifications		(5,702)				(5,770)	367			(299)
Reclassification from AOCI		(3,051)					(3,051)
Capital contribution from shareholders, net of loans issued		232		0	232
Share-based compensation		6,986		6,986
Dividends declared on common stock and equivalents	[1]	(5,905)							(5,905)
Distribution to noncontrolling interest		(977)								(977)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)			103
Issuance of common stock upon settlement of RSUs, net of shares withheld		(804)	$ 1	(805)
Other		$ (12)		1	(11)				(1)	(1)
Ending balance (in shares) at Mar. 31, 2024		168,731	168,731
Ending balance at Mar. 31, 2024		$ 1,247,887	$ 1,687	$ 1,449,773	$ (3,629)	$ (3,785)	$ 2,945	$ (368)	$ (293,430)	$ 94,694
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035

[1] Includes a $0.035 cash dividend per common share declared in the first quarter of fiscal 2024 and expected to be paid in the second quarter of fiscal 2024.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035	$ 0.035

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
CASH FLOWS (USED FOR)/FROM OPERATING ACTIVITIES:
Net (loss)/income	$ (6,663)	$ 1,644
Adjustments to reconcile net (loss)/income to net cash (used for)/provided by operating activities:
Depreciation and amortization expense	33,586	27,939
Deferred and other income taxes	214	(219)
Loss on extinguishment of debt	0	472
Impairment and lease termination charges	247	4,900
(Gain)/loss on disposal of property and equipment	(49)	33
Gain on sale-leaseback	0	(9,661)
Share-based compensation	6,986	5,545
Change in accounts and notes receivable allowances	113	334
Inventory write-off	411	7,115
Settlement of interest rate swap derivatives	0	7,657
Amortization related to settlement of interest rate swap derivatives	(2,955)	0
Other	788	(204)
Change in operating assets and liabilities, excluding foreign currency translation adjustments	(50,383)	(35,190)
Net cash (used for)/provided by operating activities	(17,705)	10,365
CASH FLOWS USED FOR INVESTING ACTIVITIES:
Purchase of property and equipment	(29,064)	(26,553)
Proceeds from sale-leaseback	0	10,025
Other investing activities	19	82
Net cash used for investing activities	(29,045)	(16,446)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of debt	179,500	891,698
Repayment of long-term debt and lease obligations	(132,343)	(852,144)
Payment of financing costs	0	(5,000)
Proceeds from structured payables	101,287	44,757
Payments on structured payables	(97,416)	(70,480)
Capital contribution by shareholders, net of loans issued	232	0
Distribution to shareholders	(5,902)	(5,884)
Payments for repurchase and retirement of common stock	(804)	0
Distribution to noncontrolling interest	(977)	(1,139)
Net cash provided by financing activities	43,577	1,808
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,829)	(1,373)
Net decrease in cash, cash equivalents and restricted cash	(5,002)	(5,646)
Cash, cash equivalents and restricted cash at beginning of period	38,614	35,730
Cash, cash equivalents and restricted cash at end of period	33,612	30,084
Supplemental schedule of non-cash investing and financing activities:
Increase/(decrease) in accrual for property and equipment	3,913	(104)
Accrual for distribution to shareholders	(5,905)	(5,884)
Reconciliation of cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	33,132	29,675
Restricted cash	480	409
Total cash, cash equivalents and restricted cash	$ 33,612	$ 30,084

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Krispy Kreme, Inc. (“KKI”) and its subsidiaries (collectively, the “Company” or “Krispy Kreme”) operates through its omni-channel business model to deliver fresh doughnut experiences and produce doughnuts for Doughnut Shops, Delivered Fresh Daily (“DFD”) outlets, and digital channels, expanding consumer access to the Krispy Kreme brand. The Company has three reportable operating segments: 1) U.S., which includes all Krispy Kreme Company-owned operations in the U.S. and Insomnia Cookies Bakeries globally; 2) International, which includes all Krispy Kreme Company-owned operations in the U.K., Ireland, Australia, New Zealand, Mexico, Canada, and Japan; and 3) Market Development, which includes franchise operations across the globe. Unallocated corporate costs are excluded from the Company’s measurement of segment performance. Basis of Presentation and Consolidation The Company operates and reports financial information on a 52 or 53-week year with the fiscal year ending on the Sunday closest to December 31. The data periods contained within fiscal years 2023 and 2024 will reflect the results of operations for the 52-week periods ended December 31, 2023 and December 29, 2024, respectively. The quarters ended March 31, 2024 and April 2, 2023 were both 13-week periods. The unaudited Condensed Consolidated Financial Statements include the accounts of KKI and subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, these interim financial statements do not include all information and footnotes required under GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of results of operations, balance sheet, cash flows, and shareholders’ equity for the periods presented. All significant intercompany balances and transactions among KKI and subsidiaries have been eliminated in consolidation. Investments in entities over which the Company has the ability to exercise significant influence but which it does not control and whose financial statements are not otherwise required to be consolidated, are accounted for using the equity method. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended December 31, 2023, included in the Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of December 31, 2023 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter ended March 31, 2024 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending December 29, 2024. Noncontrolling interest in the Company’s Condensed Consolidated Financial Statements represents the interest in subsidiaries held by joint venture partners and employee shareholders. The joint venture partners hold noncontrolling interests in the Company’s consolidated subsidiaries, Awesome Doughnut, LLC (“Awesome Doughnut”), W.K.S. Krispy Kreme, LLC (“WKS Krispy Kreme”), and Krispy K Canada, Inc. (“KK Canada”). Employee shareholders hold noncontrolling interests in the consolidated subsidiaries Krispy Kreme Holding U.K. Ltd. (“KK U.K.”), Krispy Kreme Holdings Pty Ltd. (“KK Australia”), Krispy Kreme Mexico Holding S.A.P.I. de C.V. (“KK Mexico”), and Insomnia Cookies Holdings, LLC (“Insomnia Cookies”). Since the Company consolidates the financial statements of these subsidiaries, the noncontrolling owners’ share of each subsidiary’s net assets and results of operations are deducted and reported as noncontrolling interest on the Condensed Consolidated Balance Sheets and as net income attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations and comprehensive income attributable to noncontrolling interest in the Condensed Consolidated Statements of Comprehensive (Loss)/Income. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies” to the Consolidated Financial Statements for the year ended December 31, 2023 included in the Annual Report on Form 10-K. There have been no material changes to the significant accounting policies during the quarter ended March 31, 2024. Reclassifications Segment information is prepared on the same basis that the Company’s management reviews financial information for operational decision-making purposes. Effective January 1, 2024, the Company realigned its segment reporting structure such that the Company-owned Canada and Japan businesses have moved from the Market Development reportable operating segment to the International reportable operating segment. All segment information has been restated to be consistent with current presentation.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The components of Inventories are as follows: March 31, 2024 December 31, 2023 Raw materials $ 23,594 $ 21,000 Work in progress 470 211 Finished goods and purchased merchandise 15,193 13,505 Total inventories $ 39,257 $ 34,716

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, net	3 Months Ended
Goodwill and Other Intangible Assets, net	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, net	Goodwill and Other Intangible Assets, net Goodwill Changes in the carrying amount of goodwill by reportable segment are as follows: U.S. International Market Development Total Balance as of December 31, 2023 $ 677,956 $ 294,468 $ 129,515 $ 1,101,939 Foreign currency impact — (3,113) — (3,113) Balance as of March 31, 2024 $ 677,956 $ 291,355 $ 129,515 $ 1,098,826 Other Intangible Assets, net Other intangible assets consist of the following: March 31, 2024 December 31, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,990 $ — $ 657,990 $ 657,980 $ — $ 657,980 Intangible assets with definite lives Franchise agreements 30,390 (11,107) 19,283 30,390 (10,744) 19,646 Customer relationships 15,000 (6,629) 8,371 15,000 (6,413) 8,587 Reacquired franchise rights (1) 396,822 (143,619) 253,203 397,279 (137,143) 260,136 Total intangible assets with definite lives 442,212 (161,355) 280,857 442,669 (154,300) 288,369 Total intangible assets $ 1,100,202 $ (161,355) $ 938,847 $ 1,100,649 $ (154,300) $ 946,349 (1) Reacquired franchise rights include the impact of foreign currency fluctuations associated with the respective countries.

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of March 31, 2024 December 31, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 456,810 $ 456,964 Finance lease Property and equipment, net 42,140 41,411 Total leased assets $ 498,950 $ 498,375 Liabilities Current Operating lease Current operating lease liabilities $ 50,275 $ 50,365 Finance lease Current portion of long-term debt 8,326 8,631 Noncurrent Operating lease Noncurrent operating lease liabilities 454,265 454,583 Finance lease Long-term debt, less current portion 39,637 38,486 Total leased liabilities $ 552,503 $ 552,065 Lease costs were as follows: Quarter Ended March 31, 2024 April 2, 2023 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 935 $ 891 Operating lease cost Operating expenses 24,023 22,390 Short-term lease cost Operating expenses 1,085 1,281 Variable lease costs Operating expenses 7,433 9,345 Sublease income Royalties and other revenues (35) (35) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,921 $ 1,584 Interest on lease liabilities Interest expense, net 877 573 Supplemental disclosures of cash flow information related to leases were as follows: Quarter Ended March 31, 2024 April 2, 2023 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 31,124 $ 29,145 Operating cash flows for finance leases 864 549 Financing cash flows for finance leases 2,593 1,696 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 13,114 $ 26,850 Finance leases 3,158 1,421 (1) Operating cash flows from operating leases include variable rent payments which are not included in the measurement of lease liabilities. Variable rent payments were $7.4 million and $9.3 million for the quarters ended March 31, 2024 and April 2, 2023, respectively. There were no lease termination charges in the quarter ended March 31, 2024. The Company recognized a net gain of $0.9 million included in Other expenses/(income), net on the Condensed Consolidated Statement of Operations in the quarter ended April 2, 2023, related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. There were no sale-leaseback transactions completed in the quarter ended March 31, 2024. In the quarter ended April 2, 2023, the Company completed a sale-leaseback transaction whereby it disposed of the land at one real estate property for proceeds of $10.0 million. The Company subsequently leased back the property, which is accounted for as an operating lease. The Company recognized a gain on sale of $9.7 million, which is included in Other expenses/(income), net on the Condensed Consolidated Statement of Operations for the quarter ended April 2, 2023.
Leases	Leases The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of March 31, 2024 December 31, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 456,810 $ 456,964 Finance lease Property and equipment, net 42,140 41,411 Total leased assets $ 498,950 $ 498,375 Liabilities Current Operating lease Current operating lease liabilities $ 50,275 $ 50,365 Finance lease Current portion of long-term debt 8,326 8,631 Noncurrent Operating lease Noncurrent operating lease liabilities 454,265 454,583 Finance lease Long-term debt, less current portion 39,637 38,486 Total leased liabilities $ 552,503 $ 552,065 Lease costs were as follows: Quarter Ended March 31, 2024 April 2, 2023 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 935 $ 891 Operating lease cost Operating expenses 24,023 22,390 Short-term lease cost Operating expenses 1,085 1,281 Variable lease costs Operating expenses 7,433 9,345 Sublease income Royalties and other revenues (35) (35) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,921 $ 1,584 Interest on lease liabilities Interest expense, net 877 573 Supplemental disclosures of cash flow information related to leases were as follows: Quarter Ended March 31, 2024 April 2, 2023 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 31,124 $ 29,145 Operating cash flows for finance leases 864 549 Financing cash flows for finance leases 2,593 1,696 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 13,114 $ 26,850 Finance leases 3,158 1,421 (1) Operating cash flows from operating leases include variable rent payments which are not included in the measurement of lease liabilities. Variable rent payments were $7.4 million and $9.3 million for the quarters ended March 31, 2024 and April 2, 2023, respectively. There were no lease termination charges in the quarter ended March 31, 2024. The Company recognized a net gain of $0.9 million included in Other expenses/(income), net on the Condensed Consolidated Statement of Operations in the quarter ended April 2, 2023, related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. There were no sale-leaseback transactions completed in the quarter ended March 31, 2024. In the quarter ended April 2, 2023, the Company completed a sale-leaseback transaction whereby it disposed of the land at one real estate property for proceeds of $10.0 million. The Company subsequently leased back the property, which is accounted for as an operating lease. The Company recognized a gain on sale of $9.7 million, which is included in Other expenses/(income), net on the Condensed Consolidated Statement of Operations for the quarter ended April 2, 2023.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023: March 31, 2024 Level 2 Assets: Interest rate derivatives $ 972 Commodity derivatives 341 Total Assets $ 1,313 Liabilities: Foreign currency derivatives $ 599 Total Liabilities $ 599 December 31, 2023 Level 2 Assets: Interest rate derivatives $ 1,596 Total Assets $ 1,596 Liabilities: Foreign currency derivatives $ 345 Commodity derivatives 113 Total Liabilities $ 458 There were no assets or liabilities measured using Level 1 and Level 3 inputs and no transfers of financial assets or liabilities among the levels within the fair value hierarchy during the quarter ended March 31, 2024 and fiscal year ended December 31, 2023. The Company’s derivatives are valued using discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates.

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Commodity Price Risk The Company uses forward contracts to protect against the effects of commodity price fluctuations in the cost of ingredients of its products, of which flour, sugar, and shortening are the most significant, and the cost of gasoline used by its delivery vehicles. Management has not designated these forward contracts as hedges. As of March 31, 2024 and December 31, 2023, the total notional amount of commodity derivatives was 1.4 million and 1.8 million gallons of fuel, respectively. They are scheduled to mature between April 2024 and December 2024 and January 2024 and December 2024, respectively. As of March 31, 2024 and December 31, 2023, the Company recorded an asset of $0.3 million and a liability of $0.1 million, respectively, related to the fair market values of its commodity derivatives. The settlement of commodity derivative contracts is reported in the Condensed Consolidated Statements of Cash Flows as a cash flow from operating activities. Interest Rate Risk The Company uses interest rate swaps to manage its exposure to interest rate volatility from its debt arrangements. Management has designated the swap agreements as cash flow hedges and recognized the changes in the fair value of these swaps in other comprehensive income. As of March 31, 2024 and December 31, 2023, the Company has recorded assets of $1.0 million and $1.6 million, respectively, related to the fair market values of its interest rate derivatives. The cash flows associated with the interest rate swaps are reflected in operating activities in the Condensed Consolidated Statements of Cash Flows, which is consistent with the classification as operating activities of the interest payments on the term loan. In the quarter ended April 2, 2023, the Company cancelled certain interest rate swap agreements with an aggregate notional amount of $265.0 million, collecting $7.7 million in cash proceeds, and entered into new agreements with the same counterparties. The primary difference between these new agreements and the prior versions included the setting of a new payment rate on the fixed component of the swaps (4.38%). At the same time, the Company also amended the benchmark interest rate on the floating component of all $505.0 million hedged notional to one-month SOFR, corresponding to the new interest rate on its credit facility discussed in Note 8 , Long-Term Debt. The net effect of the interest rate swap arrangements will be to fix the interest rate on the term loan under the 2023 Facility up to the notional amount outstanding at the rates payable under the swap agreements plus the Applicable Rate (as defined by the 2023 Facility), through the swap maturity dates in June 2024. Foreign Currency Exchange Rate Risk The Company is exposed to foreign currency risk primarily from its investments in consolidated subsidiaries that operate in Canada, the U.K., Ireland, Australia, New Zealand, Mexico, and Japan. In order to mitigate the impact of foreign exchange fluctuations on commercial and financial transactions with these subsidiaries, the Company enters into foreign exchange forward contracts. Management has not designated these forward contracts as hedges. As of March 31, 2024 and December 31, 2023, the total notional amount of foreign exchange derivatives was $50.1 million and $49.8 million, respectively. They matured in April 2024 and January 2024, respectively. The Company recorded liabilities of $0.6 million and $0.3 million as of March 31, 2024 and December 31, 2023, respectively, related to the fair market values of its foreign exchange derivatives. Quantitative Summary of Derivative Positions and Their Effect on Results of Operations The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. The Company only has cash flow hedges that are designated as hedging instruments. Derivatives Fair Value Derivatives Not Designated as Hedging Instruments March 31, December 31, Balance Sheet Location Commodity derivatives $ 341 $ — Prepaid expense and other current assets Total Assets $ 341 $ — Foreign currency derivatives $ 599 $ 345 Accrued liabilities Commodity derivatives — 113 Accrued liabilities Total Liabilities $ 599 $ 458 Derivatives Fair Value Derivatives Designated as Hedging Instruments March 31, December 31, Balance Sheet Location Interest rate derivatives $ 972 $ 1,596 Prepaid expense and other current assets Total Assets $ 972 $ 1,596 The effect of derivative instruments on the Condensed Consolidated Statements of Operations for the quarters ended March 31, 2024 and April 2, 2023 is as follows: Derivative Gain Recognized in Income for the Quarter Ended Derivatives Designated as Hedging Instruments March 31, 2024 April 2, 2023 Location of Derivative Gain Recognized in Income Gain on interest rate derivatives $ 3,051 $ 2,186 Interest expense, net $ 3,051 $ 2,186 Derivative (Loss)/Gain Recognized in Income for the Quarter Ended Derivatives Not Designated as Hedging Instruments March 31, 2024 April 2, 2023 Location of Derivative (Loss)/Gain Recognized in Income Loss on foreign currency derivatives $ (254) $ (924) Other non-operating expense, net Gain/(loss) on commodity derivatives 454 (118) Other non-operating expense, net $ 200 $ (1,042)

Vendor Finance Programs

Vendor Finance Programs	3 Months Ended
Vendor Finance Programs	Mar. 31, 2024
Payables and Accruals [Abstract]
Vendor Finance Programs	Vendor Finance Programs The following table presents liabilities related to vendor finance programs which the Company participates in as a buyer as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Balance Sheet Location Supply chain financing programs $ 29,622 $ 51,239 Accounts payable Structured payables programs 133,809 130,104 Structured payables Total Liabilities $ 163,431 $ 181,343 Supply Chain Financing (“SCF”) Programs The Company has an agreement with a third-party administrator which allows participating vendors to track its payments, and if voluntarily elected by the vendor, to sell payment obligations from the Company to financial institutions as part of the SCF program. The Company’s typical payment terms for trade payables range up to 180 days outside of the SCF program, depending on the type of vendors and the nature of the supplies or services. For vendors under the SCF Program, the Company has established payable terms ranging up to, but not exceeding, 360 days. When participating vendors elect to sell one or more of the Company’s payment obligations, the Company’s rights and obligations to settle the payables on their contractual due date are not impacted. The Company has no economic or commercial interest in a vendor’s decision to enter into these agreements and the financial institutions do not provide the Company with incentives such as rebates or profit sharing under the SCF program. The Company agrees on commercial terms with vendors for the goods and services procured, which are consistent with payment terms observed at other peer companies in the industry, and as the terms are not impacted by the SCF program, such obligations are classified as Accounts payable on the Condensed Consolidated Balance Sheets and the associated cash flows are included in operating activities in the Condensed Consolidated Statements of Cash Flows. Structured Payables Programs The Company utilizes various card products issued by financial institutions to facilitate purchases of goods and services. By using these products, the Company may receive differing levels of rebates based on timing of repayment. The payment obligations under these card products are classified as Structured payables on the Condensed Consolidated Balance Sheets and the associated cash flows are included in financing activities in the Condensed Consolidated Statements of Cash Flows.

Long-Term Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt obligations consists of the following: March 31, 2024 December 31, 2023 2023 Facility — term loan $ 673,750 $ 682,500 2023 Facility — revolving credit facility 207,500 155,000 Short-term lines of credit 17,000 11,000 Less: Debt issuance costs (4,109) (4,371) Finance lease obligations 47,963 47,117 Total long-term debt 942,104 891,246 Less: Current portion of long-term debt (60,326) (54,631) Long-term debt, less current portion $ 881,778 $ 836,615 2023 Secured Credit Facility The Company is party to a credit agreement (the “2023 Facility”) consisting of a $300.0 million senior secured revolving credit facility and a term loan with a principal amount of $700.0 million. The 2023 Facility is secured by a first priority lien on substantially all of the Company’s personal property assets, certain real properties, and all of the Company’s domestic wholly owned subsidiaries. Loans made pursuant to the 2023 Facility may be used for general corporate purposes of the Company (including, but not limited to, financing working capital needs, capital expenditures, acquisitions, other investments, dividends, and stock repurchases) and for any other purpose not prohibited under the related loan documents. Borrowings under the 2023 Facility are generally subject to an interest rate of adjusted term SOFR plus a credit spread adjustment of 0.10% plus (i) 2.25% if the Company’s leverage ratio (as defined in the 2023 Facility) equals or exceeds 4.00 to 1.00, (ii) 2.00% if the Company’s leverage ratio is less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00, or (iii) 1.75% if the Company’s leverage ratio is less than 3.00 to 1.00. As of March 31, 2024 and December 31, 2023, the unhedged interest rate was 7.43% and 7.46% under the 2023 Facility, respectively. As of March 31, 2024 and December 31, 2023, $505.0 million out of the $673.8 million term loan balance and $505.0 million out of the $682.5 million term loan balance, respectively, was hedged. The effective interest rate on the term loan was approximately 6.78% and 6.80% for the quarter ended March 31, 2024 and fiscal year ended December 31, 2023, respectively. The Company is required to make equal installments of 1.25% of the aggregate closing date principal amount of the term loan on the last day of each fiscal quarter. All remaining term loan and revolving loan balances are to be due at maturity in March 2028. Short-Term Lines of Credit The Company is party to two agreements with existing lenders providing for short-term, uncommitted lines of credit up to $25.0 million. Borrowings under these short-term lines of credit are payable to the lenders on a revolving basis for tenors up to a maximum of three months and are subject to an interest rate of adjusted term SOFR plus a credit spread adjustment of 0.10% plus a margin of 1.75%.

Share-based Compensation

Share-based Compensation	3 Months Ended
Share-based Compensation	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) The Company and certain of its subsidiaries issue time-vested RSUs and PSUs under their respective executive ownership plans and long-term incentive plans. RSU and PSU activity under the Company’s various plans during the periods presented is as follows: (in thousands, except per share amounts) Non-vested shares outstanding at December 31, Granted Vested Forfeited Non-vested shares outstanding at March 31, KKI RSUs and PSUs 6,785 104 164 88 6,637 Weighted Average Grant Date Fair Value $ 14.54 13.52 14.75 15.11 $ 14.51 KK U.K. RSUs 7 — — — 7 Weighted Average Grant Date Fair Value $ 29.80 — — — $ 29.80 Insomnia Cookies RSUs 47 — 2 — 45 Weighted Average Grant Date Fair Value $ 120.21 — 74.12 — $ 122.42 KK Australia RSUs 185 — — — 185 Weighted Average Grant Date Fair Value $ 1.57 — — — $ 1.57 KK Mexico RSUs 20 — — — 20 Weighted Average Grant Date Fair Value $ 30.18 — — — $ 30.18 The Company recorded total non-cash compensation expense related to RSUs and PSUs under the plans of $6.1 million and $4.7 million for the quarters ended March 31, 2024, and April 2, 2023, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows: As of March 31, 2024 Unrecognized Compensation Cost Recognized Over a KKI $ 53,665 2.9 years KK U.K. 94 2.2 years Insomnia Cookies 3,355 0.9 years KK Australia 74 1.3 years KK Mexico 231 1.4 years The estimated fair value of restricted stock is calculated using a market approach (i.e., market multiple is used for the KK U.K. and Insomnia Cookies plans and an agreed-upon EBITDA buyout multiple is used for KK Australia and KK Mexico plans). Time-Vested Stock Options KKI issues time-vested stock options under its Omnibus Incentive Plan. The fair value of time-vested stock options was estimated on the date of grant using the Black-Scholes option pricing model. Share options outstanding at (in thousands, except per share amounts) March 31, KKI Options 2,993 Weighted Average Grant Date Fair Value $ 5.90 Weighted Average Exercise Price $ 14.30 The Company recorded total non-cash compensation expense related to the time-vested stock options of $0.9 million and $0.9 million for the quarters ended March 31, 2024 and April 2, 2023, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. The unrecognized compensation cost related to the unvested stock options and the weighted average period over which such cost is expected to be recognized are as follows: As of March 31, 2024 Unrecognized Compensation Cost Recognized Over a KKI $ 7,311 2.1 years

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim tax reporting, the Company estimates a worldwide annual effective tax rate and applies that rate to the year-to-date ordinary (loss)/income. The tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Pending Litigation In March 2023, an employee filed a lawsuit on behalf of himself and all others similarly situated against the Company, alleging violations of the Illinois Biometric Information Privacy Act. In May 2023, the Company moved for a stay pending resolution of a similar case before the Illinois Supreme Court. The Company believes that it has meritorious defenses to the complaint and will vigorously defend against these claims. The Company has accrued an immaterial amount and management does not believe that this matter will have a material adverse effect on the Company’s financial results. Other Legal Matters The Company also is engaged in various legal proceedings arising in the normal course of business. The Company maintains insurance policies against certain kinds of such claims and suits, including insurance policies for workers’ compensation and personal injury, all of which are subject to deductibles. While the ultimate outcome of these matters could differ from management’s expectations, management currently does not believe their resolution will have a material adverse effect on the Company’s Condensed Consolidated Financial Statements. Other Commitments and Contingencies

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has an equity ownership in three franchisees, KremeWorks USA, LLC (20% ownership), KremeWorks Canada, L.P. (25% ownership), and Krispy Kreme Doughnuts France SAS (“KK France”) (33% ownership), with an aggregate carrying value of $2.3 million and $2.8 million as of March 31, 2024 and December 31, 2023, respectively.

Revenue Recognition

Revenue Recognition	3 Months Ended
Revenue Recognition	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenues Revenues are disaggregated as follows: Quarter Ended March 31, 2024 April 2, 2023 Company Shops, DFD and Branded Sweet Treats $ 420,213 $ 392,814 Mix and equipment revenue from franchisees 13,299 17,860 Franchise royalties and other 9,186 8,276 Total net revenues $ 442,698 $ 418,950 Other revenues include advertising fund contributions from franchisees, rental income, development and franchise fees, and licensing royalties from customers for use of the Krispy Kreme brand, such as Keurig coffee cups. Contract Balances Deferred revenue and related receivables are as follows: March 31, 2024 December 31, 2023 Balance Sheet Location Trade receivables, net of allowances of $450 and $564, respectively $ 50,212 $ 45,858 Accounts receivables, net Deferred revenue: Current $ 21,772 $ 22,066 Accrued liabilities Noncurrent 7,714 6,005 Other long-term obligations and deferred credits Total deferred revenue $ 29,486 $ 28,071 Trade receivables relate primarily to payments due for royalties, franchise fees, advertising fees, sale of products, and licensing fees. Deferred revenue primarily represents the Company’s remaining performance obligations under gift cards and franchise and development agreements for which consideration has been received or is receivable and is generally recognized on a straight-line basis over the remaining term of the related agreement. The noncurrent portion of deferred revenue primarily relates to the remaining performance obligations in the franchise and development agreements.

Net Loss per Share

Net Loss per Share	3 Months Ended
Net Loss per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share The following table presents the calculations of basic and diluted EPS: Quarter Ended (in thousands, except per share amounts) March 31, 2024 April 2, 2023 Net loss attributable to Krispy Kreme, Inc. $ (8,534) $ (301) Additional income attributed to noncontrolling interest due to subsidiary potential common shares (19) (10) Net loss attributable to common shareholders - Diluted $ (8,553) $ (311) Basic weighted average common shares outstanding 168,685 168,141 Dilutive effect of outstanding common stock options, RSUs, and PSUs — — Diluted weighted average common shares outstanding 168,685 168,141 Loss per share attributable to common shareholders: Basic $ (0.05) $ 0.00 Diluted $ (0.05) $ 0.00 Potential dilutive shares consist of unvested RSUs and PSUs, calculated using the treasury stock method. The calculation of dilutive shares outstanding excludes certain unvested RSUs granted under certain subsidiaries’ executive ownership plans and long-term incentive plans, because their inclusion would have been antidilutive. The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method): Quarter Ended (in thousands) March 31, 2024 April 2, 2023 KKI 6,637 5,097 KK U.K. 7 7 Insomnia Cookies — — KK Australia 185 276 KK Mexico — — For both quarters ended March 31, 2024 and April 2, 2023, all 3.0 million time-vested stock options were excluded from the computation of diluted weighted average common shares outstanding based on application of the treasury stock method.

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company conducts business through the three reportable segments: U.S., International, and Market Development. Unallocated corporate costs are excluded from the Company’s measurement of segment performance. These costs include general corporate expenses. As discussed in Note 1 , Description of Business and Summary of Significant Accounting Policies, effective January 1, 2024, the Company realigned its segment reporting structure such that the Company-owned Canada and Japan businesses have moved from the Market Development reportable operating segment to the International reportable operating segment. All segment information has been restated to be consistent with current presentation. The reportable segment results are as follows: Quarter Ended March 31, 2024 April 2, 2023 Net revenues: U.S. $ 295,935 $ 281,344 International 124,750 111,988 Market Development 22,013 25,618 Total net revenues $ 442,698 $ 418,950 Quarter Ended March 31, 2024 April 2, 2023 Segment Adjusted EBITDA: U.S. $ 42,616 $ 38,535 International 20,536 18,982 Market Development 11,900 11,551 Corporate (16,864) (14,140) Adjusted EBITDA 58,188 54,928 Interest expense, net 13,736 11,988 Income tax expense 4,262 317 Depreciation and amortization expense 33,586 27,939 Share-based compensation 6,986 5,545 Employer payroll taxes related to share-based compensation 43 25 Other non-operating expense, net (1) 573 999 Strategic initiatives (2) 4,821 13,469 Acquisition and integration expenses (3) 248 91 New market penetration expenses (4) 466 94 Shop closure expenses/(income), net (5) 139 (679) Restructuring and severance expenses (6) 6 580 Gain on sale-leaseback — (9,661) Other (7) (15) 2,577 Net (loss)/income $ (6,663) $ 1,644 (1) Primarily foreign translation gains and losses in each period. (2) The quarter ended March 31, 2024 consists primarily of costs associated with global transformation, exploring strategic alternatives for the Insomnia Cookies business, and preparing for the McDonald’s U.S. expansion (with these specific initiatives aggregating to approximately $4.6 million of the total). The quarter ended April 2, 2023 consists primarily of costs associated with the decision to exit the Branded Sweet Treats business, including property, plant and equipment impairments, inventory write-offs, employee severance, and other related costs (approximately $13.4 million of the total). (3) Consists of acquisition and integration-related costs in connection with the Company’s business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period. (4) Consists of start-up costs associated with entry into new countries for which the Company’s brands have not previously operated, including the Insomnia Cookies brand entering Canada and the U.K. (5) Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment. The quarter ended April 2, 2023 includes gains related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. (6) The quarter ended April 2, 2023 consists primarily of costs associated with restructuring of the global executive team. (7) The quarters ended March 31, 2024 and April 2, 2023 consist primarily of legal and other regulatory expenses incurred outside the ordinary course of business. The regulatory expenses incurred in the quarter ended April 2, 2023 relate to previous business acquisitions.

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company evaluated subsequent events and transactions for potential recognition or disclosure in the Condensed Consolidated Financial Statements through May 9, 2024, the date the Condensed Consolidated Financial Statements were available to be issued. All subsequent events requiring recognition and disclosure have been incorporated into these Condensed Consolidated Financial Statements. On April 30, 2024, the Company’s Board of Directors declared a $0.035 per share cash dividend payable on August 7, 2024, to shareholders of record on July 24, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net loss attributable to Krispy Kreme, Inc.	$ (8,534)	$ (301)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Company operates and reports financial information on a 52 or 53-week year with the fiscal year ending on the Sunday closest to December 31. The data periods contained within fiscal years 2023 and 2024 will reflect the results of operations for the 52-week periods ended December 31, 2023 and December 29, 2024, respectively. The quarters ended March 31, 2024 and April 2, 2023 were both 13-week periods.
Consolidation	These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended December 31, 2023, included in the Annual Report on Form 10-K. The Condensed Consolidated Balance Sheet as of December 31, 2023 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter ended March 31, 2024 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending December 29, 2024.
Reclassifications	Reclassifications Segment information is prepared on the same basis that the Company’s management reviews financial information for operational decision-making purposes. Effective January 1, 2024, the Company realigned its segment reporting structure such that the Company-owned Canada and Japan businesses have moved from the Market Development reportable operating segment to the International reportable operating segment. All segment information has been restated to be consistent with current presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this standard retrospectively to all prior periods presented in the financial statements. We expect this standard to impact our segment disclosures, but with no impacts to our results of operations, cash flows, and financial condition. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which focuses on the rate reconciliation and income taxes paid disclosures. The standard requires a public business entity (“PBE”) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further disaggregated by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state, and foreign and by individual jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. For PBEs, the standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity should apply the amendments in this standard prospectively, with retrospective application permitted. We expect this standard to impact our income tax disclosures, but with no impacts to our results of operations, cash flows, and financial condition.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of Inventories are as follows: March 31, 2024 December 31, 2023 Raw materials $ 23,594 $ 21,000 Work in progress 470 211 Finished goods and purchased merchandise 15,193 13,505 Total inventories $ 39,257 $ 34,716

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, net (Tables)	3 Months Ended
Goodwill and Other Intangible Assets, net (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segment	Changes in the carrying amount of goodwill by reportable segment are as follows: U.S. International Market Development Total Balance as of December 31, 2023 $ 677,956 $ 294,468 $ 129,515 $ 1,101,939 Foreign currency impact — (3,113) — (3,113) Balance as of March 31, 2024 $ 677,956 $ 291,355 $ 129,515 $ 1,098,826
Schedule of Indefinite-Lived Intangible Assets	Other intangible assets consist of the following: March 31, 2024 December 31, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,990 $ — $ 657,990 $ 657,980 $ — $ 657,980 Intangible assets with definite lives Franchise agreements 30,390 (11,107) 19,283 30,390 (10,744) 19,646 Customer relationships 15,000 (6,629) 8,371 15,000 (6,413) 8,587 Reacquired franchise rights (1) 396,822 (143,619) 253,203 397,279 (137,143) 260,136 Total intangible assets with definite lives 442,212 (161,355) 280,857 442,669 (154,300) 288,369 Total intangible assets $ 1,100,202 $ (161,355) $ 938,847 $ 1,100,649 $ (154,300) $ 946,349
Schedule of Finite-Lived Intangible Assets	Other intangible assets consist of the following: March 31, 2024 December 31, 2023 Gross Accumulated Net Amount Gross Accumulated Net Amount Intangible assets with indefinite lives Trade names and trademarks $ 657,990 $ — $ 657,990 $ 657,980 $ — $ 657,980 Intangible assets with definite lives Franchise agreements 30,390 (11,107) 19,283 30,390 (10,744) 19,646 Customer relationships 15,000 (6,629) 8,371 15,000 (6,413) 8,587 Reacquired franchise rights (1) 396,822 (143,619) 253,203 397,279 (137,143) 260,136 Total intangible assets with definite lives 442,212 (161,355) 280,857 442,669 (154,300) 288,369 Total intangible assets $ 1,100,202 $ (161,355) $ 938,847 $ 1,100,649 $ (154,300) $ 946,349

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets: As of March 31, 2024 December 31, 2023 Assets Classification Operating lease Operating lease right of use asset, net $ 456,810 $ 456,964 Finance lease Property and equipment, net 42,140 41,411 Total leased assets $ 498,950 $ 498,375 Liabilities Current Operating lease Current operating lease liabilities $ 50,275 $ 50,365 Finance lease Current portion of long-term debt 8,326 8,631 Noncurrent Operating lease Noncurrent operating lease liabilities 454,265 454,583 Finance lease Long-term debt, less current portion 39,637 38,486 Total leased liabilities $ 552,503 $ 552,065
Schedule of Lease Costs and Supplemental Cash Flow Information Related to Leases	Lease costs were as follows: Quarter Ended March 31, 2024 April 2, 2023 Lease cost Classification Operating lease cost Selling, general and administrative expense $ 935 $ 891 Operating lease cost Operating expenses 24,023 22,390 Short-term lease cost Operating expenses 1,085 1,281 Variable lease costs Operating expenses 7,433 9,345 Sublease income Royalties and other revenues (35) (35) Finance lease cost: Amortization of right of use assets Depreciation and amortization expense $ 2,921 $ 1,584 Interest on lease liabilities Interest expense, net 877 573 Supplemental disclosures of cash flow information related to leases were as follows: Quarter Ended March 31, 2024 April 2, 2023 Other information Cash paid for leases: Operating cash flows for operating leases (1) $ 31,124 $ 29,145 Operating cash flows for finance leases 864 549 Financing cash flows for finance leases 2,593 1,696 Right of use assets obtained in exchange for new lease liabilities: Operating leases $ 13,114 $ 26,850 Finance leases 3,158 1,421 (1) Operating cash flows from operating leases include variable rent payments which are not included in the measurement of lease liabilities. Variable rent payments were $7.4 million and $9.3 million for the quarters ended March 31, 2024 and April 2, 2023, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023: March 31, 2024 Level 2 Assets: Interest rate derivatives $ 972 Commodity derivatives 341 Total Assets $ 1,313 Liabilities: Foreign currency derivatives $ 599 Total Liabilities $ 599 December 31, 2023 Level 2 Assets: Interest rate derivatives $ 1,596 Total Assets $ 1,596 Liabilities: Foreign currency derivatives $ 345 Commodity derivatives 113 Total Liabilities $ 458

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value	The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. The Company only has cash flow hedges that are designated as hedging instruments. Derivatives Fair Value Derivatives Not Designated as Hedging Instruments March 31, December 31, Balance Sheet Location Commodity derivatives $ 341 $ — Prepaid expense and other current assets Total Assets $ 341 $ — Foreign currency derivatives $ 599 $ 345 Accrued liabilities Commodity derivatives — 113 Accrued liabilities Total Liabilities $ 599 $ 458 Derivatives Fair Value Derivatives Designated as Hedging Instruments March 31, December 31, Balance Sheet Location Interest rate derivatives $ 972 $ 1,596 Prepaid expense and other current assets Total Assets $ 972 $ 1,596
Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss)	The effect of derivative instruments on the Condensed Consolidated Statements of Operations for the quarters ended March 31, 2024 and April 2, 2023 is as follows: Derivative Gain Recognized in Income for the Quarter Ended Derivatives Designated as Hedging Instruments March 31, 2024 April 2, 2023 Location of Derivative Gain Recognized in Income Gain on interest rate derivatives $ 3,051 $ 2,186 Interest expense, net $ 3,051 $ 2,186 Derivative (Loss)/Gain Recognized in Income for the Quarter Ended Derivatives Not Designated as Hedging Instruments March 31, 2024 April 2, 2023 Location of Derivative (Loss)/Gain Recognized in Income Loss on foreign currency derivatives $ (254) $ (924) Other non-operating expense, net Gain/(loss) on commodity derivatives 454 (118) Other non-operating expense, net $ 200 $ (1,042)

Vendor Finance Programs (Tables

Vendor Finance Programs (Tables)	3 Months Ended
Vendor Finance Programs (Tables)	Mar. 31, 2024
Payables and Accruals [Abstract]
Liabilities Related to Vendor Finance Programs	The following table presents liabilities related to vendor finance programs which the Company participates in as a buyer as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Balance Sheet Location Supply chain financing programs $ 29,622 $ 51,239 Accounts payable Structured payables programs 133,809 130,104 Structured payables Total Liabilities $ 163,431 $ 181,343

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The Company’s long-term debt obligations consists of the following: March 31, 2024 December 31, 2023 2023 Facility — term loan $ 673,750 $ 682,500 2023 Facility — revolving credit facility 207,500 155,000 Short-term lines of credit 17,000 11,000 Less: Debt issuance costs (4,109) (4,371) Finance lease obligations 47,963 47,117 Total long-term debt 942,104 891,246 Less: Current portion of long-term debt (60,326) (54,631) Long-term debt, less current portion $ 881,778 $ 836,615

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
Share-based Compensation (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	RSU and PSU activity under the Company’s various plans during the periods presented is as follows: (in thousands, except per share amounts) Non-vested shares outstanding at December 31, Granted Vested Forfeited Non-vested shares outstanding at March 31, KKI RSUs and PSUs 6,785 104 164 88 6,637 Weighted Average Grant Date Fair Value $ 14.54 13.52 14.75 15.11 $ 14.51 KK U.K. RSUs 7 — — — 7 Weighted Average Grant Date Fair Value $ 29.80 — — — $ 29.80 Insomnia Cookies RSUs 47 — 2 — 45 Weighted Average Grant Date Fair Value $ 120.21 — 74.12 — $ 122.42 KK Australia RSUs 185 — — — 185 Weighted Average Grant Date Fair Value $ 1.57 — — — $ 1.57 KK Mexico RSUs 20 — — — 20 Weighted Average Grant Date Fair Value $ 30.18 — — — $ 30.18
Share-based Payment Arrangement, Nonvested Award, Cost	The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows: As of March 31, 2024 Unrecognized Compensation Cost Recognized Over a KKI $ 53,665 2.9 years KK U.K. 94 2.2 years Insomnia Cookies 3,355 0.9 years KK Australia 74 1.3 years KK Mexico 231 1.4 years The unrecognized compensation cost related to the unvested stock options and the weighted average period over which such cost is expected to be recognized are as follows: As of March 31, 2024 Unrecognized Compensation Cost Recognized Over a KKI $ 7,311 2.1 years
Share-based Payment Arrangement, Option, Activity	A summary of the status of the time-vested stock options as of March 31, 2024 (with no options granted, exercised, or forfeited since December 31, 2023) is presented below: Share options outstanding at (in thousands, except per share amounts) March 31, KKI Options 2,993 Weighted Average Grant Date Fair Value $ 5.90 Weighted Average Exercise Price $ 14.30

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues are disaggregated as follows: Quarter Ended March 31, 2024 April 2, 2023 Company Shops, DFD and Branded Sweet Treats $ 420,213 $ 392,814 Mix and equipment revenue from franchisees 13,299 17,860 Franchise royalties and other 9,186 8,276 Total net revenues $ 442,698 $ 418,950
Summary of Contract Balances with Customers	Deferred revenue and related receivables are as follows: March 31, 2024 December 31, 2023 Balance Sheet Location Trade receivables, net of allowances of $450 and $564, respectively $ 50,212 $ 45,858 Accounts receivables, net Deferred revenue: Current $ 21,772 $ 22,066 Accrued liabilities Noncurrent 7,714 6,005 Other long-term obligations and deferred credits Total deferred revenue $ 29,486 $ 28,071

Net Loss per Share (Tables)

Net Loss per Share (Tables)	3 Months Ended
Net Loss per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share, Basic and Diluted	The following table presents the calculations of basic and diluted EPS: Quarter Ended (in thousands, except per share amounts) March 31, 2024 April 2, 2023 Net loss attributable to Krispy Kreme, Inc. $ (8,534) $ (301) Additional income attributed to noncontrolling interest due to subsidiary potential common shares (19) (10) Net loss attributable to common shareholders - Diluted $ (8,553) $ (311) Basic weighted average common shares outstanding 168,685 168,141 Dilutive effect of outstanding common stock options, RSUs, and PSUs — — Diluted weighted average common shares outstanding 168,685 168,141 Loss per share attributable to common shareholders: Basic $ (0.05) $ 0.00 Diluted $ (0.05) $ 0.00
Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share	The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method): Quarter Ended (in thousands) March 31, 2024 April 2, 2023 KKI 6,637 5,097 KK U.K. 7 7 Insomnia Cookies — — KK Australia 185 276 KK Mexico — —

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The reportable segment results are as follows: Quarter Ended March 31, 2024 April 2, 2023 Net revenues: U.S. $ 295,935 $ 281,344 International 124,750 111,988 Market Development 22,013 25,618 Total net revenues $ 442,698 $ 418,950 Quarter Ended March 31, 2024 April 2, 2023 Segment Adjusted EBITDA: U.S. $ 42,616 $ 38,535 International 20,536 18,982 Market Development 11,900 11,551 Corporate (16,864) (14,140) Adjusted EBITDA 58,188 54,928 Interest expense, net 13,736 11,988 Income tax expense 4,262 317 Depreciation and amortization expense 33,586 27,939 Share-based compensation 6,986 5,545 Employer payroll taxes related to share-based compensation 43 25 Other non-operating expense, net (1) 573 999 Strategic initiatives (2) 4,821 13,469 Acquisition and integration expenses (3) 248 91 New market penetration expenses (4) 466 94 Shop closure expenses/(income), net (5) 139 (679) Restructuring and severance expenses (6) 6 580 Gain on sale-leaseback — (9,661) Other (7) (15) 2,577 Net (loss)/income $ (6,663) $ 1,644 (1) Primarily foreign translation gains and losses in each period. (2) The quarter ended March 31, 2024 consists primarily of costs associated with global transformation, exploring strategic alternatives for the Insomnia Cookies business, and preparing for the McDonald’s U.S. expansion (with these specific initiatives aggregating to approximately $4.6 million of the total). The quarter ended April 2, 2023 consists primarily of costs associated with the decision to exit the Branded Sweet Treats business, including property, plant and equipment impairments, inventory write-offs, employee severance, and other related costs (approximately $13.4 million of the total). (3) Consists of acquisition and integration-related costs in connection with the Company’s business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period. (4) Consists of start-up costs associated with entry into new countries for which the Company’s brands have not previously operated, including the Insomnia Cookies brand entering Canada and the U.K. (5) Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment. The quarter ended April 2, 2023 includes gains related to the termination of leases at certain Krispy Kreme shops in the U.S. where the Company had already recognized impairment of the corresponding right of use assets in a prior period. (6) The quarter ended April 2, 2023 consists primarily of costs associated with restructuring of the global executive team. (7) The quarters ended March 31, 2024 and April 2, 2023 consist primarily of legal and other regulatory expenses incurred outside the ordinary course of business. The regulatory expenses incurred in the quarter ended April 2, 2023 relate to previous business acquisitions.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details)	3 Months Ended
	Mar. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 23,594	$ 21,000
Work in progress	470	211
Finished goods and purchased merchandise	15,193	13,505
Inventories	$ 39,257	$ 34,716

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Apr. 02, 2023
Inventory Disclosure [Abstract]
Inventory write-off	$ 411	$ 7,115

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, net - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,101,939
Foreign currency impact	(3,113)
Ending balance	1,098,826
U.S.
Goodwill [Roll Forward]
Beginning balance	677,956
Foreign currency impact	0
Ending balance	677,956
International
Goodwill [Roll Forward]
Beginning balance	294,468
Foreign currency impact	(3,113)
Ending balance	291,355
Market Development
Goodwill [Roll Forward]
Beginning balance	129,515
Foreign currency impact	0
Ending balance	$ 129,515

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, net - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023
Intangible assets with definite lives
Gross Carrying Amount	$ 442,212		$ 442,669
Accumulated Amortization	(161,355)		(154,300)
Net Amount	280,857		288,369
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	1,100,202		1,100,649
Accumulated Amortization	(161,355)		(154,300)
Net Amount	938,847		946,349
Amortization of intangible assets	7,400	$ 7,300
Trade names and trademarks
Intangible assets with indefinite lives
Trade names and trademarks	657,990		657,980
Franchise agreements
Intangible assets with definite lives
Gross Carrying Amount	30,390		30,390
Accumulated Amortization	(11,107)		(10,744)
Net Amount	19,283		19,646
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(11,107)		(10,744)
Customer relationships
Intangible assets with definite lives
Gross Carrying Amount	15,000		15,000
Accumulated Amortization	(6,629)		(6,413)
Net Amount	8,371		8,587
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(6,629)		(6,413)
Reacquired franchise rights (1)
Intangible assets with definite lives
Gross Carrying Amount	396,822		397,279
Accumulated Amortization	(143,619)		(137,143)
Net Amount	253,203		260,136
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (143,619)		$ (137,143)

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Operating lease	$ 456,810	$ 456,964
Finance lease	$ 42,140	$ 41,411
Finance lease assets, statement of financial position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Total leased assets	$ 498,950	$ 498,375
Current
Current operating lease liabilities	50,275	50,365
Current finance lease liabilities	$ 8,326	$ 8,631
Finance lease liabilities, current, statement of financial position [Extensible Enumeration]	Current portion of long-term debt	Current portion of long-term debt
Noncurrent
Noncurrent operating lease liabilities	$ 454,265	$ 454,583
Noncurrent finance lease liabilities	$ 39,637	$ 38,486
Finance lease liabilities, noncurrent, statement of financial position [Extensible Enumeration]	Long-term debt, less current portion	Long-term debt, less current portion
Total leased liabilities	$ 552,503	$ 552,065

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Operating lease cost
Short-term lease cost	$ 1,085	$ 1,281
Variable lease costs	7,433	9,345
Sublease income	(35)	(35)
Amortization of right of use assets	2,921	1,584
Interest on lease liabilities	877	573
Selling, general and administrative expense
Operating lease cost
Operating lease cost	935	891
Operating expenses
Operating lease cost
Operating lease cost	$ 24,023	$ 22,390

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Cash paid for leases:
Operating cash flows for operating leases	$ 31,124	$ 29,145
Operating cash flows for finance leases	864	549
Financing cash flows for finance leases	2,593	1,696
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	13,114	26,850
Finance leases	3,158	1,421
Variable lease, payment	$ 7,400	$ 9,300

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
Leases - Additional Information (Details) $ in Thousands	Mar. 31, 2024 USD ($) property	Apr. 02, 2023 USD ($) property
Leases [Abstract]
Leases, termination costs	$ 0	$ 900
Number of real estate properties \| property	0	1
Proceeds from sale-leaseback	$ 0	$ 10,025
Gain on sale-leaseback	$ 0	$ 9,661

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair value, recurring - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Level 2
Assets:
Total Assets	$ 1,313,000	$ 1,596,000
Liabilities:
Total Liabilities	599,000	458,000
Level 2 \| Interest rate derivatives
Assets:
Derivative assets	972,000	1,596,000
Liabilities:
Derivative liabilities		113,000
Level 2 \| Commodity derivatives
Assets:
Derivative assets	341,000
Level 2 \| Foreign currency derivatives
Liabilities:
Derivative liabilities	599,000	345,000
Level 3
Assets:
Total Assets	0	0
Level 1
Assets:
Total Assets	$ 0	$ 0

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) $ in Thousands, gal in Millions			3 Months Ended
	Jul. 02, 2023 gal	Jan. 01, 2023 gal	Mar. 31, 2024 USD ($)	Apr. 02, 2023 USD ($)	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Settlement of interest rate swap derivatives			$ 0	$ 7,657
2023 Facility \| Term Loan
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, amount of hedged item			505,000		$ 505,000
Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value			341		0
Derivative liability, fair value			599		458
Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value			972		1,596
Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount (in gallon) \| gal	1.4	1.8
Derivative asset, fair value			300		100
Interest rate derivatives \| Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			265,000
Interest rate derivatives \| Derivatives Designated as Hedging Instruments \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value			1,000		1,600
Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount			50,100		49,800
Derivative liability, fair value			$ 600		$ 300
Interest Rate Contract, New Interest Rate Swap Agreement \| Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, fixed interest rate			4.38%

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 341	$ 0
Derivative liability, fair value	599	458
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	972	1,596
Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	300	100
Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	600	300
Prepaid expense and other current assets \| Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	341	0
Prepaid expense and other current assets \| Interest rate derivatives \| Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	972	1,596
Accrued liabilities \| Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	0	113
Accrued liabilities \| Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 599	$ 345

Derivative Instruments - Sche_2

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	$ 3,051	$ 2,186
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	200	(1,042)
Interest rate derivatives \| Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	3,051	2,186
Foreign currency derivatives \| Other non-operating expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	(254)	(924)
Commodity derivatives \| Other non-operating expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	$ 454	$ (118)

Vendor Finance Programs (Detail

Vendor Finance Programs (Details) - USD ($) $ in Thousands	3 Months Ended
Vendor Finance Programs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Supplier Finance Program [Line Items]
Vendor finance program	$ 163,431	$ 181,343
Accounts Payable
Supplier Finance Program [Line Items]
Vendor finance program	29,622	51,239
Structured Payables
Supplier Finance Program [Line Items]
Vendor finance program	$ 133,809	$ 130,104
Supply Chain Financing Programs \| KKI
Supplier Finance Program [Line Items]
Period of trade payables payment	180 days
Supply Chain Financing Programs \| Vendors Under SCF Program
Supplier Finance Program [Line Items]
Period of trade payables payment	360 days

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (4,109)	$ (4,371)
Finance lease obligations	47,963	47,117
Total long-term debt	942,104	891,246
Less: Current portion of long-term debt	(60,326)	(54,631)
Long-term debt, less current portion	881,778	836,615
Credit Facility
Debt Instrument [Line Items]
Short-term lines of credit	17,000	11,000
Term Loan \| 2023 Facility
Debt Instrument [Line Items]
Long-term debt, gross	673,750	682,500
Credit Facility \| 2023 Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 207,500	$ 155,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
Long-Term Debt - Narrative (Details) $ in Millions	Sep. 30, 2023 USD ($) agreement	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25
Debt instrument, basis spread on variable rate	1.75%
Number of agreements \| agreement	2
Secured Overnight Financing Rate (SOFR) \| Credit Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.10%
2023 Facility \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		7.43%	7.46%
2023 Facility \| Credit Spread Adjustment
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%
2023 Facility \| Leverage Ratio equal to or exceeds 4.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
2023 Facility \| Leverage Ratio less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2%
2023 Facility \| Leverage Ratio less than 3.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
2023 Facility \| Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 700
Derivative, amount of hedged item		$ 505	$ 505
Debt instrument, interest rate, effective percentage		6.78%	6.80%
Revolving Credit Facility \| 2023 Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 300

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option plan expense	$ 0.9	$ 0.9
KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested (in shares)	0	0
Stock option exercised (in shares)	0
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense	$ 6.1	$ 4.7
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	104,000
Granted (in shares)	104,000

Share-based Compensation - Sche

Share-based Compensation - Schedule of RSU Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Restricted Stock Units (RSUs) \| KK U.K.
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	7
Granted (in shares) \| shares	0
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	7
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 29.80
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	0
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 29.80
Restricted Stock Units (RSUs) \| Insomnia Cookies
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	47
Granted (in shares) \| shares	0
Vested (in shares) \| shares	2
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	45
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 120.21
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	74.12
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 122.42
Restricted Stock Units (RSUs) \| KK Australia
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	185
Granted (in shares) \| shares	0
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	185
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 1.57
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	0
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 1.57
Restricted Stock Units (RSUs) \| KK Mexico
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	20
Granted (in shares) \| shares	0
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	20
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 30.18
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	0
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 30.18
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	6,785
Granted (in shares) \| shares	104
Vested (in shares) \| shares	164
Forfeited (in shares) \| shares	88
Ending balance, non-vested shares outstanding (in shares) \| shares	6,637
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 14.54
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	13.52
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	14.75
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	15.11
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 14.51

Share-based Compensation - Sc_2

Share-based Compensation - Schedule of RSU Unrecognized Compensation Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restricted Stock Units (RSUs) \| KK U.K.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 94
Recognized Over a Weighted-Average Period of	2 years 2 months 12 days
Restricted Stock Units (RSUs) \| Insomnia Cookies
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 3,355
Recognized Over a Weighted-Average Period of	10 months 24 days
Restricted Stock Units (RSUs) \| KK Australia
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 74
Recognized Over a Weighted-Average Period of	1 year 3 months 18 days
Restricted Stock Units (RSUs) \| KK Mexico
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 231
Recognized Over a Weighted-Average Period of	1 year 4 months 24 days
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 53,665
Recognized Over a Weighted-Average Period of	2 years 10 months 24 days

Share-based Compensation - Sc_3

Share-based Compensation - Schedule of Stock Option Activity (Details) - KKI	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Options
Granted (in shares)	0
Exercised (in shares)	0
Forfeited or expired (in shares)	0
Ending balance, share options outstanding (in shares)	2,993,000
Weighted Average Grant Date Fair Value
Ending balance, share options outstanding (in USD per share) \| $ / shares	$ 5.90
Weighted Average Exercise Price
Ending balance, share options outstanding (in USD per share) \| $ / shares	$ 14.30

Share-based Compensation - Sc_4

Share-based Compensation - Schedule of Stock Option Unrecognized Compensation Expense (Details) - Share-based Payment Arrangement, Option - KKI $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 7,311
Recognized Over a Weighted-Average Period of	2 years 1 month 6 days

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2024	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(177.50%)	16.20%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 13.3	$ 15.4

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	Mar. 31, 2024 USD ($) equity_method_investment	Dec. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Number of franchisees \| equity_method_investment	3,000,000
Equity Method Investee
Related Party Transaction [Line Items]
Equity method investments \| $	$ 2.3	$ 2.8
KremeWorks USA, LLC
Related Party Transaction [Line Items]
Ownership percentage	20%
KremeWorks Canada, L.P.
Related Party Transaction [Line Items]
Ownership percentage	25%
Krispy Kreme France
Related Party Transaction [Line Items]
Ownership percentage	33%

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Disaggregation of Revenue [Line Items]
Total net revenues	$ 442,698	$ 418,950
Company Shops, DFD and Branded Sweet Treats
Disaggregation of Revenue [Line Items]
Total net revenues	420,213	392,814
Mix and equipment revenue from franchisees
Disaggregation of Revenue [Line Items]
Total net revenues	13,299	17,860
Franchise royalties and other
Disaggregation of Revenue [Line Items]
Total net revenues	$ 9,186	$ 8,276

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Contract Balances with Customers (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Trade receivables, net of allowances of $450 and $564, respectively	$ 50,212	$ 45,858
Trade receivables, allowance for credit loss	450	564
Deferred revenue:
Current	21,772	22,066
Noncurrent	7,714	6,005
Total deferred revenue	$ 29,486	$ 28,071

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Net Loss Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Earnings Per Share [Abstract]
Net loss attributable to Krispy Kreme, Inc.	$ (8,534)	$ (301)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	(19)	(10)
Net loss attributable to common shareholders - Diluted	$ (8,553)	$ (311)
Basic weighted average common shares outstanding (in shares)	168,685	168,141
Dilutive effect of outstanding common stock options and RSUs (in shares)	0	0
Diluted weighted average common shares outstanding (in shares)	168,685	168,141
Net loss per share:
Basic earnings/(loss) per share (in dollars per shares)	$ (0.05)	$ 0
Diluted earnings/(loss) per share (in dollars per shares)	$ (0.05)	$ 0

Net Loss per Share - Schedule_2

Net Loss per Share - Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share (Details) - Restricted Stock Units (RSUs) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	6,637	5,097
KK U.K.
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	7	7
Insomnia Cookies
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	0
KK Australia
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	185	276
KK Mexico
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	0

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Share-based Payment Arrangement, Option \| KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	3	3

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended
Segment Reporting (Details) $ in Thousands	Mar. 31, 2024 USD ($) segment	Apr. 02, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Total net revenues	$ 442,698	$ 418,950
Segment adjusted EBITDA	58,188	54,928
Interest expense, net	13,736	11,988
Income tax expense	4,262	317
Depreciation and amortization expense	33,586	27,939
Share-based compensation	6,986	5,545
Employer payroll taxes related to share-based compensation	43	25
Other non-operating expense, net	573	999
Strategic initiatives	4,821	13,469
Acquisition and integration expenses	248	91
New market penetration expenses	466	94
Shop closure expenses	139	(679)
Restructuring and severance expenses	6	580
Gain on sale-leaseback	0	(9,661)
Other	(15)	2,577
Net (loss)/income	(6,663)	1,644
Strategic Initiatives
Segment Reporting Information [Line Items]
Global transformation, strategic alternatives, and McDonald's expansion	4,600
Property, plant and equipment impairments, inventory write-offs, employee severance, and other related costs		13,400
Corporate
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	(16,864)	(14,140)
U.S.
Segment Reporting Information [Line Items]
Total net revenues	295,935	281,344
U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	42,616	38,535
International
Segment Reporting Information [Line Items]
Total net revenues	124,750	111,988
International \| Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	20,536	18,982
Market Development
Segment Reporting Information [Line Items]
Total net revenues	22,013	25,618
Market Development \| Operating Segments
Segment Reporting Information [Line Items]
Segment adjusted EBITDA	$ 11,900	$ 11,551

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended
Subsequent Events (Details) - $ / shares	Apr. 30, 2024	Mar. 31, 2024	Apr. 02, 2023
Subsequent Event [Line Items]
Dividends declared on common stock and equivalents (in dollars per share)		$ 0.035	$ 0.035
Subsequent Event
Subsequent Event [Line Items]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035