Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 29, 2020

Summary of Significant Accounting Policies

Schedule of depreciation and amortization periods

Buildings and land improvements	30 years
Leasehold improvements	10 to 30 years
Furnishings, fixtures and equipment	3 to 15 years	(1)
Computer software and equipment	5 years

(1) Other than certain types of restaurant equipment with estimated useful lives that equal or exceed the reasonably certain lease term, in which case the reasonably certain lease term is utilized

Schedule of basic and diluted net income per share

	Fiscal Year
	2020		2019		2018
	(In thousands, except per share data)
Basic net (loss)/income per common share:
Net (loss)/income	$	(253,365)	$	127,293	$	99,035
Dividends on Series A preferred stock		(13,485)		—		—
Direct and incremental Series A preferred stock issuance costs		(10,257)		—		—
Net (loss)/income available to common stockholders		(277,107)		127,293		99,035
Basic weighted-average shares outstanding		43,869		43,949		45,263
Basic net (loss)/income per common share	$	(6.32)	$	2.90	$	2.19
Diluted net (loss)/income per common share:
Net (loss)/income available to common stockholders		(277,107)		127,293		99,035
Basic weighted-average shares outstanding		43,869		43,949		45,263
Dilutive effect of equity awards (1)		—		596		952
Diluted weighted-average shares outstanding		43,869		44,545		46,215
Diluted net (loss)/income per common share	$	(6.32)	$	2.86	$	2.14

(1) Shares of common stock equivalents of 4.0 million, 2.3 million and 1.5 million for fiscal 2020, 2019 and 2018, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.