Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 03, 2023

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 components of intangible assets, net

The following table presents components of intangible assets, net (in thousands):

	Fiscal year ended
	January 3, 2023		December 28, 2021
Indefinite-lived intangible assets:
Goodwill	$	1,451	$	1,451
Trade names and trademarks		234,077		233,767
Transferable alcoholic beverage licenses		7,683		7,446
Total indefinite-lived intangible assets		243,211		242,664
Definite-lived intangible assets, net:
Licensing agreements		5,092		5,690
Non-transferable alcoholic beverage licenses		3,221		3,347
Total definite-lived intangible assets		8,313		9,037
Total intangible assets, net	$	251,524	$	251,701

Schedule of basic and diluted net income per share

	Fiscal Year
	2022		2021		2020
	(In thousands, except per share data)
Basic net income/(loss) per common share:
Net income/(loss)	$	43,123	$	72,373	$	(253,365)
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		43,123		49,131		(277,107)
Basic weighted-average shares outstanding		49,815		47,529		43,869
Basic net income/(loss) per common share	$	0.87	$	1.03	$	(6.32)
Diluted net income/(loss) per common share:
Net income/(loss) available to common stockholders		43,123		49,131		(277,107)
Reallocation of undistributed earnings to Series A preferred stock		—		85		—
Net income/(loss) available to common stockholders for diluted EPS		43,123		49,216		(277,107)
Basic weighted-average shares outstanding		49,815		47,529		43,869
Dilutive effect of equity awards (1)		599		981		—
Diluted weighted-average shares outstanding		50,414		48,510		43,869
Diluted net income/(loss) per common share	$	0.86	$	1.01	$	(6.32)

(1) Shares of common stock equivalents related to outstanding stock options, restricted stock and restricted stock units of 3.3 million, 1.9 million and 4.0 million for fiscal 2022, 2021 and 2020, respectively, were excluded from the diluted calculation due to their anti-dilutive effect. No shares of common stock equivalents related to the Notes were included in the diluted calculation due to their anti-dilutive effect.