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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 28, 2021

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
	2021		2020		2019

	(In thousands, except per share data)

Basic net income/(loss) per common share:
Net income/(loss)	$	72,373	$	(253,365)	$	127,293
Dividends on Series A preferred stock		(18,661)		(13,485)		—
Direct and incremental Series A preferred stock issuance costs		—		(10,257)		—
Undistributed earnings allocated to Series A preferred stock		(4,581)		—		—
Net income/(loss) available to common stockholders		49,131		(277,107)		127,293
Basic weighted-average shares outstanding		47,529		43,869		43,949
Basic net income/(loss) per common share	$	1.03	$	(6.32)	$	2.90

Diluted net income/(loss) per common share:
Net income/(loss) available to common stockholders		49,131		(277,107)		127,293
Reallocation of undistributed earnings to Series A preferred stock		85		—		—
Net income/(loss) available to common stockholders for diluted EPS		49,216		(277,107)		127,293
Basic weighted-average shares outstanding		47,529		43,869		43,949
Dilutive effect of equity awards ⁽¹⁾		981		—		596
Diluted weighted-average shares outstanding ⁽²⁾		48,510		43,869		44,545
Diluted net income/(loss) per common share	$	1.01	$	(6.32)	$	2.86

(1)

Shares of common stock equivalents of 1.9 million, 4.0 million and 2.3 million for fiscal 2021, 2020 and 2019, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

(2)

Our Notes of $345 million were excluded from the diluted calculation due to their anti-dilutive effect.