Stock-Based Compensation (Tables)

12 Months Ended

Jan. 02, 2024

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
	2023		2022		2021
Labor expenses	$	9,914	$	9,590	$	8,856
Other operating costs and expenses		318		321		311
General and administrative expenses		15,549		14,515		13,821
Total stock-based compensation		25,781		24,426		22,988
Income tax benefit		6,437		6,026		5,646
Total stock-based compensation, net of taxes	$	19,344	$	18,399	$	17,342
Capitalized stock-based compensation (1)	$	185	$	226	$	194

(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	1,685	$	46.11	4.2	$	0
Granted	40	$	40.42
Exercised	—	$	—
Forfeited or cancelled	(175)	$	48.01
Outstanding at end of year	1,550	$	45.75	3.8	$	0
Exercisable at end of year	1,199	$	47.11	3.1	$	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	2,512	$	41.93
Granted	1,005	$	37.73
Vested	(501)	$	43.59
Forfeited	(130)	$	39.77
Outstanding at end of year	2,886	$	40.28