Stock-Based Compensation (Tables)

12 Months Ended

Jan. 03, 2023

Stock-Based Compensation

Schedule of information related to stock-based compensation, net of forfeitures

The following table presents information related to stock-based compensation, net of forfeitures (in thousands):

	Fiscal Year
	2022		2021		2020
Labor expenses	$	9,590	$	8,856	$	7,753
Other operating costs and expenses		321		311		309
General and administrative expenses		14,515		13,821		13,288
Total stock-based compensation		24,426		22,988		21,350
Income tax benefit		6,026		5,646		5,245
Total stock-based compensation, net of taxes	$	18,399	$	17,342	$	16,105
Capitalized stock-based compensation (1)	$	226	$	194	$	207

(1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations and equipment installation. Capitalized stock-based compensation is included in property and equipment, net on the consolidated balance sheets.

Schedule of stock option activity

				Weighted-
				Average
		Weighted-		Remaining
		Average		Contractual	Aggregate
	Shares	Exercise Price		Term	Intrinsic Value (1)
	(In thousands)	(Per share)		(In years)	(In thousands)
Outstanding at beginning of year	1,716	$	46.14	5.1	$	0
Granted	—	$	—
Exercised	(2)	$	40.16
Forfeited or cancelled	(29)	$	48.19
Outstanding at end of year	1,685	$	46.11	4.2	$	0
Exercisable at end of year	1,119	$	48.10	3.2	$	0

(1) Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal year end and the exercise price, multiplied by the number of in-the-money options and represents the pre-tax amount that would have been received by the option holders, had they all exercised their options on the fiscal year-end date.

Schedule of restricted share and restricted share unit activity

		Weighted-
		Average
	Shares	Fair Value
	(In thousands)	(Per share)
Outstanding at beginning of year	2,123	$	44.82
Granted	941	$	36.84
Vested	(407)	$	45.35
Forfeited	(145)	$	41.53
Outstanding at end of year	2,512	$	41.93