Red Robin Gourmet Burgers (RRGB) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 12, 2015	Aug. 11, 2015
Document and Entity Information
Entity Registrant Name	RED ROBIN GOURMET BURGERS INC
Entity Central Index Key	1,171,759
Current Fiscal Year End Date	--12-27
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 12, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		14,170,967

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 12, 2015	Dec. 28, 2014
Current assets:
Cash and cash equivalents	$ 22,615	$ 22,408
Accounts receivable, net	15,835	23,740
Inventories	26,655	25,947
Prepaid expenses and other current assets	23,752	23,160
Deferred tax asset and other	4,461	4,677
Total current assets	93,318	99,932
Property and equipment, net	530,018	496,262
Goodwill	83,033	84,115
Intangible assets, net	41,173	42,479
Other assets, net	19,295	13,101
Total assets	766,837	735,889
Current liabilities:
Trade accounts payable	24,581	28,522
Construction related payables	24,661	15,652
Accrued payroll and payroll-related liabilities	43,158	47,362
Unearned revenue	31,764	45,049
Accrued liabilities and other	33,121	27,084
Total current liabilities	157,285	163,669
Deferred rent	61,122	57,341
Long-term debt	136,875	139,375
Long-term portion of capital lease obligations	7,672	7,938
Other non-current liabilities	10,082	7,795
Total liabilities	373,036	376,118
Stockholders’ equity:
Common stock, $0.001 par value: 45,000 shares authorized; 17,851 and 17,851 shares issued; 14,176 and 14,043 shares outstanding	18	18
Preferred stock, $0.001 par value: 3,000 shares authorized; no shares issued and outstanding	0	0
Treasury stock 3,675 and 3,808 shares, at cost	(127,627)	(132,252)
Paid-in capital	204,082	200,617
Accumulated other comprehensive loss, net of tax	(3,715)	(1,924)
Retained earnings	321,043	293,312
Total stockholders’ equity	393,801	359,771
Total liabilities and stockholders’ equity	$ 766,837	$ 735,889

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 12, 2015	Dec. 28, 2014
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	30,000,000
Common stock, shares issued	17,851,000	17,851,000
Common stock, shares outstanding	14,176,000	14,043,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury stock, shares	3,675,000	3,808,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014	Jul. 12, 2015	Jul. 13, 2014
Revenues:
Restaurant revenue	$ 288,704	$ 251,818	$ 677,213	$ 586,813
Franchise royalties, fees, and other revenues	4,275	4,315	10,667	9,804
Total revenues	292,979	256,133	687,880	596,617
Restaurant operating costs (excluding depreciation and amortization shown separately below):
Cost of sales	71,665	63,689	169,615	147,909
Labor	93,513	82,572	217,869	193,493
Other operating	35,356	31,022	81,940	71,619
Occupancy	23,210	18,618	53,357	42,900
Depreciation and amortization	17,260	14,120	40,263	33,006
Selling, general, and administrative expenses	34,126	30,320	82,187	72,743
Pre-opening and acquisition costs	1,369	2,326	2,324	4,439
Total costs and expenses	276,499	242,667	647,555	566,109
Income from operations	16,480	13,466	40,325	30,508
Other expense:
Interest expense, net and other	904	475	1,964	1,149
Income before income taxes	15,576	12,991	38,361	29,359
Provision for income taxes	4,410	3,521	10,630	7,945
Net income	$ 11,166	$ 9,470	$ 27,731	$ 21,414
Earnings per share:
Basic (in dollars per share)	$ 0.79	$ 0.66	$ 1.96	$ 1.49
Diluted (in dollars per share)	$ 0.78	$ 0.65	$ 1.94	$ 1.47
Weighted average shares outstanding:
Basic (in shares)	14,142	14,312	14,134	14,335
Diluted (in shares)	14,311	14,528	14,322	14,565

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014	Jul. 12, 2015	Jul. 13, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 11,166	$ 9,470	$ 27,731	$ 21,414
Other comprehensive gain (loss), net of tax:
Net change in fair value of interest rate swap	0	(7)	(3)	(77)
Net loss reclassified into interest expense	13	22	36	51
Tax (expense) benefit	(5)	(6)	(13)	10
Net change in derivative instrument	8	9	20	(16)
Foreign currency translation adjustment	(694)	0	(1,811)	0
Other comprehensive gain (loss), net of tax	(686)	9	(1,791)	(16)
Total comprehensive income	$ 10,480	$ 9,479	$ 25,940	$ 21,398

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014
Cash flows from operating activities:
Net income	$ 27,731	$ 21,414
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	40,263	33,006
Stock-based compensation expense	2,849	2,030
Other, net	(3,949)	(1,338)
Changes in operating assets and liabilities, net of business acquisitions:
Accounts receivable	9,285	7,311
Trade accounts payable and accrued liabilities	(344)	(415)
Unearned revenue	(10,051)	(7,976)
Other operating assets and liabilities, net	1,564	2,051
Net cash provided by operating activities	67,348	56,083
Cash flows from investing activities:
Purchases of property, equipment, and intangible assets	(64,507)	(48,729)
Deposit on equipment purchase	(5,479)	0
Acquisition of franchise restaurants, net of cash acquired	0	(7,942)
Other investing activities	3	93
Net cash used in investing activities	(69,983)	(56,578)
Cash flows from financing activities:
Borrowings of long-term debt	248,500	140,000
Payments of long-term debt and capital leases	(251,327)	(91,404)
Purchase of treasury stock	0	(8,078)
Debt issuance costs	0	(690)
Tax benefit from exercise of stock options	1,840	1,691
Proceeds from exercise of stock options and employee stock purchase plan	3,987	2,411
Net cash provided by financing activities	3,000	43,930
Effect of exchange rate changes on cash	(158)	0
Net increase in cash and cash equivalents	207	43,435
Cash and cash equivalents, beginning of period	22,408	17,108
Cash and cash equivalents, end of period	22,615	60,543
Supplemental disclosure of cash flow information
Income taxes paid	4,094	8,579
Interest paid, net of amounts capitalized	2,342	1,584
Change in construction related payables	$ 9,009	$ 1,594

Basis of Presentation and Recen

Basis of Presentation and Recent Accounting Pronouncements	6 Months Ended
	Jul. 12, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recent Accounting Pronouncements	Basis of Presentation and Recent Accounting Pronouncements Red Robin Gourmet Burgers, Inc., a Delaware corporation, together with its subsidiaries (“Red Robin” or the “Company”), develops and operates casual-dining and fast-casual restaurants. As of July 12, 2015 , the Company owned and operated 422 restaurants located in 38 states, the District of Columbia, and two Canadian provinces. The Company also had 99 franchised casual-dining restaurants in 15 states as of July 12, 2015 . The Company operates its business as one operating and one reportable segment. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Red Robin and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for any interim period are not necessarily indicative of results for the full year. The accompanying condensed consolidated financial statements of Red Robin have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements on Form 10-K have been condensed or omitted. The condensed consolidated balance sheet as of December 28, 2014 has been derived from the audited consolidated financial statements as of that date, but does not include all disclosures required for audited annual financial statements. For further information, please refer to and read these interim condensed consolidated financial statements in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2014 , filed with the SEC on February 20, 2015. The Company’s quarter that ended July 12, 2015 is referred to as second quarter 2015, or the twelve weeks ended July 12, 2015 ; the first quarter ended April 19, 2015 is referred to as first quarter 2015, or the sixteen weeks ended April 19, 2015; and together the first and second quarters of 2015 are referred to as the twenty-eight weeks ended July 12, 2015. The Company’s quarter that ended July 13, 2014 is referred to as second quarter 2014, or the twelve weeks ended July 13, 2014 ; the first quarter ended April 20, 2014 is referred to as first quarter 2014, or the sixteen weeks ended April 20, 2014; and together the first and second quarters of 2014 are referred to as the twenty-eight weeks ended July 13, 2014 . Change in Accounting Estimate - Gift Card Breakage During the first quarter 2015, the Company re-evaluated the estimated redemption pattern related to gift cards and aligned the recognition of gift card breakage revenue to the updated estimated redemption pattern. As a result, the Company recognized $1.4 million of additional gift card breakage revenue in the first quarter of 2015. Gift card breakage revenue is included in other revenue in the condensed consolidated statement of incomes. This change in accounting estimate increased net income by $0.9 million or $0.06 per diluted share. Recently Issued Accounting Standards In July 2015, the Financial Accounting Standards Board (“FASB”) issued guidance on the subsequent measurement of inventory, which changes the measurement from lower of cost or market to lower of cost and net realizable value. The guidance is effective for reporting periods beginning after December 15, 2016 and permits adoption in an earlier period. We are currently evaluating the impact this guidance will have on our consolidated financial statements and the timing of adoption. In April 2015, FASB issued guidance on the financial statement presentation of debt issuance costs. This guidance requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability, rather than an asset. The guidance is effective for reporting periods beginning after December 15, 2015 and will only result in an immaterial change in presentation of these costs on our consolidated balance sheets. In April 2015, the FASB issued guidance clarifying that if a cloud computing arrangement includes a software license, the customer should account for the license consistent with its accounting for other software licenses. If the arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance is effective for reporting periods beginning after December 15, 2015. We are currently evaluating the impact this guidance may have on our consolidated financial position and results of operations. In May 2014, the FASB issued guidance outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This guidance requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. In July 2015, the FASB approved a one-year deferral of the effective date of the new revenue standard. The guidance is now effective for reporting periods beginning after December 15, 2017 with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial position and results of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jul. 12, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table presents goodwill as of July 12, 2015 and December 28, 2014 (in thousands): Balance, December 28, 2014 $ 84,115 Acquisition adjustment 158 Translation adjustment $ (1,240 ) Balance, July 12, 2015 $ 83,033 The Company had no goodwill impairment losses in the period presented in the above table or any prior periods. During the first two quarters of 2015, the Company finalized the purchase price accounting of the acquisitions made in 2014 and recorded certain immaterial purchase accounting adjustments. Refer to Note 5, Acquisitions of Red Robin Franchised Restaurants. The following table presents intangible assets as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 December 28, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Franchise rights $ 50,627 $ (22,410 ) $ 28,217 $ 50,826 $ (20,583 ) $ 30,243 Favorable leases 12,991 (6,037 ) 6,954 12,991 (5,553 ) 7,438 Liquor licenses 10,075 (9,669 ) 406 10,058 (9,548 ) 510 $ 73,693 $ (38,116 ) $ 35,577 $ 73,875 $ (35,684 ) $ 38,191 Indefinite-lived intangible assets: Liquor licenses and other $ 5,596 $ — $ 5,596 $ 4,288 $ — $ 4,288 Intangible assets, net $ 79,289 $ (38,116 ) $ 41,173 $ 78,163 $ (35,684 ) $ 42,479 There were no impairments to intangible assets during the twenty-eight weeks ended July 12, 2015 and July 13, 2014 . The aggregate amortization expense related to intangible assets subject to amortization was $1.1 million and $2.4 million for the twelve and twenty-eight weeks ended July 12, 2015 . The estimated aggregate future amortization expense as of July 12, 2015 is as follows, (in thousands): Remainder of 2015 $ 2,174 2016 3,996 2017 3,886 2018 3,669 2019 3,587 Thereafter 18,265 $ 35,577

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Jul. 12, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plans	Stock Incentive Plans Under the Company’s Second Amended and Restated 2007 Performance Incentive Plan (the “2007 Stock Plan”), various stock options and stock awards may be granted to employees of the Company and any of the Company’s subsidiaries, directors of the Company, and certain consultants and advisors to the Company or any of its subsidiaries. Stock options are granted with an exercise price equal to the fair market value of shares of the Company’s common stock at the grant date. We account for stock-based compensation in accordance with fair value recognition provisions, calculated using the Black-Scholes option pricing model (“the pricing model”). The weighted-average fair value of non-qualified stock options and the related assumptions used in the pricing model were as follows: Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Risk-free interest rate 1.6 % 1.5 % 1.4 % 1.7 % Expected years until exercise 4.8 5.0 4.8 5.8 Expected stock volatility 39.4 % 46.1 % 40.6 % 44.8 % Dividend yield — % — % — % — % Weighted average Black-Scholes fair value per share at date of grant $ 30.86 $ 30.05 $ 29.71 $ 31.43 The following table presents a summary of the Company’s stock-based compensation activity for the twenty-eight weeks ended July 12, 2015 (in thousands): Stock Options Restricted Stock Units Outstanding, December 28, 2014 462 101 Granted 72 32 Forfeited/expired (38 ) (11 ) Exercised/vested (89 ) (41 ) Outstanding, July 12, 2015 407 81 We recognized expense from stock-based compensation for the twelve and twenty-eight weeks ended July 12, 2015 and July 13, 2014 as follows (in thousands): Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Restaurant related $ 27 $ 18 $ 62 $ 49 Selling, general, and administrative related 1,376 1,003 2,787 1,981 Total stock-based compensation $ 1,403 $ 1,021 $ 2,849 $ 2,030

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 12, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share amounts are calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share amounts are calculated based upon the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. Potentially dilutive shares are excluded from the computation in periods in which they have an anti-dilutive effect. Diluted earnings per share reflect the potential dilution that could occur if holders of options exercised their options into common stock. During the twelve and twenty-eight weeks ended July 12, 2015 , weighted average stock options outstanding of 72 thousand shares and 48 thousand shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented. During the twelve and twenty-eight weeks ended July 13, 2014 , weighted average stock options outstanding of 67 thousand and 49 thousand shares were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented. The Company uses the treasury stock method to calculate the effect of outstanding stock options. The computations for basic and diluted earnings per share are as follows (in thousands, except per share data): Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Net income $ 11,166 $ 9,470 $ 27,731 $ 21,414 Basic weighted average shares outstanding 14,142 14,312 14,134 14,335 Dilutive effect of stock options and awards 169 216 188 230 Diluted weighted average shares outstanding 14,311 14,528 14,322 14,565 Earnings per share: Basic $ 0.79 $ 0.66 $ 1.96 $ 1.49 Diluted $ 0.78 $ 0.65 $ 1.94 $ 1.47

Acquisitions of Red Robin Franc

Acquisitions of Red Robin Franchised Restaurants	6 Months Ended
	Jul. 12, 2015
Business Combinations [Abstract]
Acquisitions of Red Robin Franchised Restaurants	Acquisitions of Red Robin Franchised Restaurants On March 24, 2014 , the Company acquired four Red Robin restaurants in the United States from one of its franchisees for a purchase price of $8.0 million in cash. On July 14, 2014 , the Company acquired 32 Red Robin franchised restaurants, 14 in the United States and 18 in Canada, from Mach Robin, LLC and its Canadian affiliate, for a purchase price of $39.5 million in cash. The condensed consolidated statements of income include the results of operations for these restaurants from the dates of acquisition. The pro forma impact of the acquisitions on prior periods is not presented as the impact was not material to reported results. The Company allocated the purchase price to the tangible and intangible assets acquired and liabilities assumed at the acquisition date at their estimated fair values with the remainder allocated to goodwill. During the first two quarters of 2015, the Company finalized the purchase price accounting of the above acquisitions and recorded certain immaterial purchase accounting adjustments, which are reflected in the purchase price allocation table below. Fair Value at Acquisition Date Property, plant and equipment 14,157 Intangible assets 9,394 Goodwill 23,111 Inventory 2,088 Deferred Tax Assets 2,091 Deferred Tax Liabilities (1,161 ) Other current and non-current assets 737 Other current and non-current liabilities (2,906 ) Total purchase price 47,511 The fair value measurement of tangible and intangible assets and liabilities as of the acquisition date is based on significant inputs not observed in the market and thus represents a level 3 fair value measurement.

Impairment and Restaurant Closu

Impairment and Restaurant Closures	6 Months Ended
	Jul. 12, 2015
Restructuring and Related Activities [Abstract]
Impairment and Restaurant Closures	Impairment and Restaurant Closures During the twenty-eight weeks ended July 12, 2015 , the Company closed one restaurant at the end of its lease term. The Company closed two restaurants that operated below acceptable profitability levels during the twenty-eight weeks ended July 13, 2014 . Both restaurants closed during the twenty-eight weeks ended July 13, 2014 had been impaired in fiscal year 2013. No impairments were recorded during the twenty-eight weeks ended July 12, 2015 or July 13, 2014 . The Company evaluates restaurants that are closed and allocates goodwill based on the relative fair value of the disposed restaurants to the Company’s reporting unit. Since restaurant operations are typically valued based on cash flow from operations, the Company compares the historical cash flow from the closed restaurants to the cash flow from the reporting unit to determine the relative value. No goodwill was allocated to the restaurants closed during the twenty-eight weeks ended July 12, 2015 or July 13, 2014 , because those restaurants had projected zero or negative cash flow and consequently did not have positive fair value.

Advertising Costs

Advertising Costs	6 Months Ended
	Jul. 12, 2015
Other Income and Expenses [Abstract]
Advertising Costs	Advertising Costs Costs incurred in connection with the advertising and marketing of the Company are included in selling, general, and administrative expenses. Advertising and marketing includes salaries and benefits of marketing personnel, advertising, media, and marketing materials. Advertising production costs are expensed in the period when the advertising first takes place. Other advertising and marketing costs are expensed as incurred. Advertising and marketing costs were $12.0 million and $11.1 million for the twelve weeks ended July 12, 2015 and July 13, 2014 , which included $11.1 million and $9.9 million related to selling expense. Advertising and marketing costs were $26.5 million and $23.4 million for the twenty-eight weeks ended July 12, 2015 and July 13, 2014 , which included $24.1 million and $20.2 million related to selling expense.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jul. 12, 2015
Derivative and Other Comprehensive Income
Derivative Financial Instruments	Derivative Financial Instruments From time to time, the Company enters into derivative instruments for risk management purposes only, including a derivative designated as cash flow hedge under guidance for derivative instruments and hedging activities. By using these instruments, the Company exposes itself, from time to time, to both credit and market risk. Credit risk is the failure of either party to the contract to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, creating credit risk for the Company. The Company minimizes credit risk by entering into transactions with high-quality counterparties whose credit ratings are evaluated on a quarterly basis. Market risk, as it relates to the Company's interest-rate derivative, is the adverse effect on the value of a financial instrument resulting from changes in interest rates. The Company minimizes market risk by establishing and monitoring parameters that limit the types and degree of market risk that the Company accepts. The Company had one interest rate swap at December 28, 2014 with a remaining notional amount of $54.4 million . The Company entered into this variable-to-fixed interest rate swap agreement with Rabobank in August 2011 with an initial notional amount of $74.1 million to hedge its floating interest rate borrowings. The notional amount amortized over time from $74.1 million at inception to $50.6 million at its maturity on June 30, 2015. Under the terms of the interest rate swap, the quarterly cash payment or receipt was equal to the net of (1) the fixed interest rate of 1.135% paid by the Company and (2) the 3 month LIBOR rate for the applicable interest period received by the Company multiplied by the remaining notional amount as of the payment date. Changes in fair value of the interest rate swap are recorded, net of tax, as a component of Accumulated other comprehensive income (“AOCI”), in the accompanying condensed consolidated balance sheets. The Company reclassifies the effective gain or loss from accumulated other comprehensive income, net of tax, to interest expense on the Company’s condensed consolidated statements of income as the interest expense is recognized on the related debt. The ineffective portion of the change in fair value of the interest rate swap, if any, is recognized directly in earnings in interest expense. The following table presents losses on the interest rate swap designated as a cash flow hedge recognized in other comprehensive income (“OCI”) and reclassifications from AOCI to earnings for the twelve and twenty-eight weeks ended July 12, 2015 and July 13, 2014 (in thousands): Losses recognized in OCI on derivative (effective portion) Losses reclassified from AOCI into income (effective portion) July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Twelve Weeks Ended $ — $ (7 ) $ (13 ) $ (22 ) Twenty-eight Weeks Ended $ (3 ) $ (78 ) $ (36 ) $ (51 ) The following table summarizes the fair value and presentation of the interest rate swap in the accompanying condensed consolidated balance sheets as hedging instruments as of July 12, 2015 and December 28, 2014 (in thousands): Derivative Liability Balance Sheet Location Fair Value at July 12, 2015 Fair Value at December 28, 2014 Accrued liabilities $ — $ 347 Total derivatives $ — $ 347 The components of accumulated other comprehensive income related to the interest rate swap being used to hedge cash flows were immaterial as of July 12, 2015 and December 28, 2014 . The interest rate swap was highly effective during 2015 until it matured on June 30, 2015.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 12, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The carrying amounts of the Company’s cash and cash equivalents, accounts receivable, and accounts payable approximate fair value due to the short term nature or maturity of the instruments. The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 6,806 $ 6,806 $ — $ — Total assets measured at fair value $ 6,806 $ 6,806 $ — $ — Liabilities: Derivative—interest rate swap $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — December 28, 2014 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 5,723 $ 5,723 $ — $ — Total assets measured at fair value $ 5,723 $ 5,723 $ — $ — Liabilities: Derivative—interest rate swap $ 347 $ — 347 $ — Total liabilities measured at fair value $ 347 $ — $ 347 $ — Other than disclosed in Note 5, Acquisitions of Red Robin Franchised Restaurants , as of July 12, 2015 and December 28, 2014 , the Company had no financial assets or liabilities that were measured using level 3 inputs. The Company also had no non-financial assets or liabilities that were required to be measured on a recurring basis. Disclosures of Fair Value of Other Assets and Liabilities The Company’s liabilities under its credit facility and capital leases are carried at historical cost in the accompanying condensed consolidated balance sheets. For disclosure purposes, the Company estimated the fair value of the credit facility and capital lease obligations using discounted cash flow analysis based on market rates obtained from independent third parties for similar types of debt. Both the credit facility and the Company’s capital lease obligations are considered to be level 2 instruments. The following table presents the carrying value and estimated fair value of Company’s credit facility and capital lease obligations as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 December 28, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Credit facility $ 136,000 $ 135,896 $ 138,500 $ 138,397 Capital lease obligations 8,196 9,550 8,521 10,004 Total $ 144,196 $ 145,446 $ 147,021 $ 148,401

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 12, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the normal course of business, there are various claims in process, matters in litigation, and other contingencies. These include employment-related claims and claims alleging illness, injury, or other food quality, health, or operational issues. To date, no claims of these types of litigation, certain of which are covered by insurance policies, have had a material effect on the Company. While it is not possible to predict the outcome of these suits, legal proceedings and claims with certainty, management is of the opinion that adequate provision for potential losses associated with these matters has been made in the financial statements and that the ultimate resolution of these matters will not have a material effect on the Company’s financial position and results of operations.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 12, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated subsequent events and found there to be no events requiring recognition or disclosure through the date of issuance of this report.

Basis of Presentation and Rec18

Basis of Presentation and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jul. 12, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Red Robin and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for any interim period are not necessarily indicative of results for the full year. The accompanying condensed consolidated financial statements of Red Robin have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements on Form 10-K have been condensed or omitted. The condensed consolidated balance sheet as of December 28, 2014 has been derived from the audited consolidated financial statements as of that date, but does not include all disclosures required for audited annual financial statements. For further information, please refer to and read these interim condensed consolidated financial statements in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2014 , filed with the SEC on February 20, 2015. The Company’s quarter that ended July 12, 2015 is referred to as second quarter 2015, or the twelve weeks ended July 12, 2015 ; the first quarter ended April 19, 2015 is referred to as first quarter 2015, or the sixteen weeks ended April 19, 2015; and together the first and second quarters of 2015 are referred to as the twenty-eight weeks ended July 12, 2015. The Company’s quarter that ended July 13, 2014 is referred to as second quarter 2014, or the twelve weeks ended July 13, 2014 ; the first quarter ended April 20, 2014 is referred to as first quarter 2014, or the sixteen weeks ended April 20, 2014; and together the first and second quarters of 2014 are referred to as the twenty-eight weeks ended July 13, 2014 .
Change in Accounting Estimate - Gift Card Breakage	Change in Accounting Estimate - Gift Card Breakage During the first quarter 2015, the Company re-evaluated the estimated redemption pattern related to gift cards and aligned the recognition of gift card breakage revenue to the updated estimated redemption pattern.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In July 2015, the Financial Accounting Standards Board (“FASB”) issued guidance on the subsequent measurement of inventory, which changes the measurement from lower of cost or market to lower of cost and net realizable value. The guidance is effective for reporting periods beginning after December 15, 2016 and permits adoption in an earlier period. We are currently evaluating the impact this guidance will have on our consolidated financial statements and the timing of adoption. In April 2015, FASB issued guidance on the financial statement presentation of debt issuance costs. This guidance requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability, rather than an asset. The guidance is effective for reporting periods beginning after December 15, 2015 and will only result in an immaterial change in presentation of these costs on our consolidated balance sheets. In April 2015, the FASB issued guidance clarifying that if a cloud computing arrangement includes a software license, the customer should account for the license consistent with its accounting for other software licenses. If the arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance is effective for reporting periods beginning after December 15, 2015. We are currently evaluating the impact this guidance may have on our consolidated financial position and results of operations. In May 2014, the FASB issued guidance outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This guidance requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, this guidance expands related disclosure requirements. In July 2015, the FASB approved a one-year deferral of the effective date of the new revenue standard. The guidance is now effective for reporting periods beginning after December 15, 2017 with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial position and results of operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jul. 12, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The following table presents goodwill as of July 12, 2015 and December 28, 2014 (in thousands): Balance, December 28, 2014 $ 84,115 Acquisition adjustment 158 Translation adjustment $ (1,240 ) Balance, July 12, 2015 $ 83,033
Schedule of intangible assets subject to amortization	The following table presents intangible assets as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 December 28, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Franchise rights $ 50,627 $ (22,410 ) $ 28,217 $ 50,826 $ (20,583 ) $ 30,243 Favorable leases 12,991 (6,037 ) 6,954 12,991 (5,553 ) 7,438 Liquor licenses 10,075 (9,669 ) 406 10,058 (9,548 ) 510 $ 73,693 $ (38,116 ) $ 35,577 $ 73,875 $ (35,684 ) $ 38,191 Indefinite-lived intangible assets: Liquor licenses and other $ 5,596 $ — $ 5,596 $ 4,288 $ — $ 4,288 Intangible assets, net $ 79,289 $ (38,116 ) $ 41,173 $ 78,163 $ (35,684 ) $ 42,479
Schedule of intangible assets not subject to amortization	The following table presents intangible assets as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 December 28, 2014 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Franchise rights $ 50,627 $ (22,410 ) $ 28,217 $ 50,826 $ (20,583 ) $ 30,243 Favorable leases 12,991 (6,037 ) 6,954 12,991 (5,553 ) 7,438 Liquor licenses 10,075 (9,669 ) 406 10,058 (9,548 ) 510 $ 73,693 $ (38,116 ) $ 35,577 $ 73,875 $ (35,684 ) $ 38,191 Indefinite-lived intangible assets: Liquor licenses and other $ 5,596 $ — $ 5,596 $ 4,288 $ — $ 4,288 Intangible assets, net $ 79,289 $ (38,116 ) $ 41,173 $ 78,163 $ (35,684 ) $ 42,479
Schedule of estimated aggregate future amortization expense	The estimated aggregate future amortization expense as of July 12, 2015 is as follows, (in thousands): Remainder of 2015 $ 2,174 2016 3,996 2017 3,886 2018 3,669 2019 3,587 Thereafter 18,265 $ 35,577

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Jul. 12, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of average assumptions used in estimation of fair value of options	The weighted-average fair value of non-qualified stock options and the related assumptions used in the pricing model were as follows: Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Risk-free interest rate 1.6 % 1.5 % 1.4 % 1.7 % Expected years until exercise 4.8 5.0 4.8 5.8 Expected stock volatility 39.4 % 46.1 % 40.6 % 44.8 % Dividend yield — % — % — % — % Weighted average Black-Scholes fair value per share at date of grant $ 30.86 $ 30.05 $ 29.71 $ 31.43
Summary of status of the Company's stock option plans	The following table presents a summary of the Company’s stock-based compensation activity for the twenty-eight weeks ended July 12, 2015 (in thousands): Stock Options Restricted Stock Units Outstanding, December 28, 2014 462 101 Granted 72 32 Forfeited/expired (38 ) (11 ) Exercised/vested (89 ) (41 ) Outstanding, July 12, 2015 407 81
Schedule of recognized expense from stock-based compensation	We recognized expense from stock-based compensation for the twelve and twenty-eight weeks ended July 12, 2015 and July 13, 2014 as follows (in thousands): Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Restaurant related $ 27 $ 18 $ 62 $ 49 Selling, general, and administrative related 1,376 1,003 2,787 1,981 Total stock-based compensation $ 1,403 $ 1,021 $ 2,849 $ 2,030

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 12, 2015
Earnings Per Share [Abstract]
Schedule of computations for basic and diluted earnings per share	The computations for basic and diluted earnings per share are as follows (in thousands, except per share data): Twelve Weeks Ended Twenty-eight Weeks Ended July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Net income $ 11,166 $ 9,470 $ 27,731 $ 21,414 Basic weighted average shares outstanding 14,142 14,312 14,134 14,335 Dilutive effect of stock options and awards 169 216 188 230 Diluted weighted average shares outstanding 14,311 14,528 14,322 14,565 Earnings per share: Basic $ 0.79 $ 0.66 $ 1.96 $ 1.49 Diluted $ 0.78 $ 0.65 $ 1.94 $ 1.47

Acquisitions of Red Robin Fra22

Acquisitions of Red Robin Franchised Restaurants (Tables)	6 Months Ended
	Jul. 12, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions	During the first two quarters of 2015, the Company finalized the purchase price accounting of the above acquisitions and recorded certain immaterial purchase accounting adjustments, which are reflected in the purchase price allocation table below. Fair Value at Acquisition Date Property, plant and equipment 14,157 Intangible assets 9,394 Goodwill 23,111 Inventory 2,088 Deferred Tax Assets 2,091 Deferred Tax Liabilities (1,161 ) Other current and non-current assets 737 Other current and non-current liabilities (2,906 ) Total purchase price 47,511

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	6 Months Ended
	Jul. 12, 2015
Derivative and Other Comprehensive Income
Schedule of interest rate swaps designated as a cash flow hedge	The following table presents losses on the interest rate swap designated as a cash flow hedge recognized in other comprehensive income (“OCI”) and reclassifications from AOCI to earnings for the twelve and twenty-eight weeks ended July 12, 2015 and July 13, 2014 (in thousands): Losses recognized in OCI on derivative (effective portion) Losses reclassified from AOCI into income (effective portion) July 12, 2015 July 13, 2014 July 12, 2015 July 13, 2014 Twelve Weeks Ended $ — $ (7 ) $ (13 ) $ (22 ) Twenty-eight Weeks Ended $ (3 ) $ (78 ) $ (36 ) $ (51 )
Schedule of fair value and presentation of interest rate hedging instruments in condensed consolidated balance sheets	The following table summarizes the fair value and presentation of the interest rate swap in the accompanying condensed consolidated balance sheets as hedging instruments as of July 12, 2015 and December 28, 2014 (in thousands): Derivative Liability Balance Sheet Location Fair Value at July 12, 2015 Fair Value at December 28, 2014 Accrued liabilities $ — $ 347 Total derivatives $ — $ 347

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 12, 2015
Fair Value Disclosures [Abstract]
Schedule of fair value assets measured on recurring basis	The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 6,806 $ 6,806 $ — $ — Total assets measured at fair value $ 6,806 $ 6,806 $ — $ — Liabilities: Derivative—interest rate swap $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — December 28, 2014 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 5,723 $ 5,723 $ — $ — Total assets measured at fair value $ 5,723 $ 5,723 $ — $ — Liabilities: Derivative—interest rate swap $ 347 $ — 347 $ — Total liabilities measured at fair value $ 347 $ — $ 347 $ —
Schedule of fair value liabilities measured on recurring basis	The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 6,806 $ 6,806 $ — $ — Total assets measured at fair value $ 6,806 $ 6,806 $ — $ — Liabilities: Derivative—interest rate swap $ — $ — $ — $ — Total liabilities measured at fair value $ — $ — $ — $ — December 28, 2014 Level 1 Level 2 Level 3 Assets: Investments in rabbi trust $ 5,723 $ 5,723 $ — $ — Total assets measured at fair value $ 5,723 $ 5,723 $ — $ — Liabilities: Derivative—interest rate swap $ 347 $ — 347 $ — Total liabilities measured at fair value $ 347 $ — $ 347 $ —
Summary of fair value of debt	The following table presents the carrying value and estimated fair value of Company’s credit facility and capital lease obligations as of July 12, 2015 and December 28, 2014 (in thousands): July 12, 2015 December 28, 2014 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Credit facility $ 136,000 $ 135,896 $ 138,500 $ 138,397 Capital lease obligations 8,196 9,550 8,521 10,004 Total $ 144,196 $ 145,446 $ 147,021 $ 148,401

Basis of Presentation and Rec25

Basis of Presentation and Recent Accounting Pronouncements (Details) $ / shares in Units, $ in Thousands	3 Months Ended		4 Months Ended		6 Months Ended
	Jul. 12, 2015USD ($)stateprovincerestaurant$ / shares	Jul. 13, 2014USD ($)$ / shares	Apr. 19, 2015USD ($)$ / shares	Apr. 20, 2014	Jul. 12, 2015USD ($)stateprovincerestaurantsegment$ / shares	Jul. 13, 2014USD ($)$ / shares
Franchisor Disclosure [Line Items]
Number of operating segments | segment					1
Number of reportable segments | segment					1
Length of fiscal period	84 days	84 days	112 days	112 days	196 days	196 days
Gift card breakage revenue recognized			$ 1,400
Net income	$ 11,166	$ 9,470			$ 27,731	$ 21,414
Earnings per share, diluted (in dollars per share) | $ / shares	$ 0.78	$ 0.65			$ 1.94	$ 1.47
Company-owned operated restaurants
Franchisor Disclosure [Line Items]
Number of restaurants | restaurant	422				422
Number of states in which restaurants are located | state	38				38
Number of Canadian provinces in which restaurants are located | province	2				2
Franchised restaurants
Franchisor Disclosure [Line Items]
Number of restaurants | restaurant	99				99
Number of states in which restaurants are located | state	15				15
Change in accounting estimate
Franchisor Disclosure [Line Items]
Net income			$ 900
Earnings per share, diluted (in dollars per share) | $ / shares			$ 0.06

Goodwill and Intangible Asset26

Goodwill and Intangible Assets (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 12, 2015	Jul. 12, 2015	Jul. 13, 2014	Dec. 28, 2014
Goodwill
Balance, December 28, 2014		$ 84,115,000
Acquisition adjustment		158,000
Translation adjustment		(1,240,000)
Balance, July 12, 2015	$ 83,033,000	83,033,000
Impairment to intangible assets		0	$ 0
Intangible Assets
Gross Carrying Amount	73,693,000	73,693,000		$ 73,875,000
Accumulated Amortization	(38,116,000)	(38,116,000)		(35,684,000)
Net Carrying Amount	35,577,000	35,577,000		38,191,000
Intangible assets, Gross Carrying Amount	79,289,000	79,289,000		78,163,000
Intangible assets, Accumulated Amortization	(38,116,000)	(38,116,000)		(35,684,000)
Intangible assets, Net Carrying Amount	41,173,000	41,173,000		42,479,000
Aggregate amortization expense	1,100,000	2,400,000
Liquor licenses and other
Intangible Assets
Gross Carrying Amount, Indefinite-lived intangible assets	5,596,000	5,596,000		4,288,000
Accumulated Amortization, Indefinite-lived intangible assets	0	0		0
Net Carrying Amount, Indefinite-lived intangible assets	5,596,000	5,596,000		4,288,000
Franchise rights
Intangible Assets
Gross Carrying Amount	50,627,000	50,627,000		50,826,000
Accumulated Amortization	(22,410,000)	(22,410,000)		(20,583,000)
Net Carrying Amount	28,217,000	28,217,000		30,243,000
Favorable leases
Intangible Assets
Gross Carrying Amount	12,991,000	12,991,000		12,991,000
Accumulated Amortization	(6,037,000)	(6,037,000)		(5,553,000)
Net Carrying Amount	6,954,000	6,954,000		7,438,000
Liquor licenses and other
Intangible Assets
Gross Carrying Amount	10,075,000	10,075,000		10,058,000
Accumulated Amortization	(9,669,000)	(9,669,000)		(9,548,000)
Net Carrying Amount	$ 406,000	$ 406,000		$ 510,000

Goodwill and Intangible Asset27

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	Jul. 12, 2015	Dec. 28, 2014
Estimated aggregate future amortization expense
Remainder of 2015	$ 2,174
2,016	3,996
2,017	3,886
2,018	3,669
2,019	3,587
Thereafter	18,265
Net Carrying Amount	$ 35,577	$ 38,191

Stock Incentive Plans (Details)

Stock Incentive Plans (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014	Jul. 12, 2015	Jul. 13, 2014
Stock-based compensation expense recognized
Stock-based compensation expense	$ 1,403	$ 1,021	$ 2,849	$ 2,030
Stock Options
Weighted average assumptions used in estimation of fair value of options
Risk-free interest rate (as a percent)	1.60%	1.50%	1.40%	1.70%
Expected years until exercise	4 years 9 months 18 days	5 years	4 years 9 months 18 days	5 years 9 months 18 days
Expected stock volatility (as a percent)	39.40%	46.10%	40.60%	44.80%
Dividend yield (as a percent)	0.00%	0.00%	0.00%	0.00%
Weighted average Black-Scholes fair value per share at date of grant (in dollars per share)	$ 30.86	$ 30.05	$ 29.71	$ 31.43
Stock Options
Outstanding, Beginning of period (in shares)			462
Granted (in shares)			72
Forfeited/expired (in shares)			(38)
Exercised (in shares)			(89)
Outstanding, End of period(in shares)	407		407
Restricted Stock Units
Restricted Stock Units
Outstanding, Beginning of period (in shares)			101
Granted (in shares)			32
Forfeited/expired (in shares)			(11)
Vested (in shares)			(41)
Outstanding, End of period (in shares)	81		81
Restaurant related
Stock-based compensation expense recognized
Stock-based compensation expense	$ 27	$ 18	$ 62	$ 49
Selling, general, administrative related
Stock-based compensation expense recognized
Stock-based compensation expense	$ 1,376	$ 1,003	$ 2,787	$ 1,981

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014	Jul. 12, 2015	Jul. 13, 2014
Earnings Per Share [Abstract]
Weighted average stock options outstanding (in shares)	72	67	48	49
Earnings Per Share Reconciliation [Abstract]
Net income	$ 11,166	$ 9,470	$ 27,731	$ 21,414
Basic weighted average shares outstanding (in shares)	14,142	14,312	14,134	14,335
Dilutive effect of stock options and awards (in shares)	169	216	188	230
Diluted weighted average shares outstanding (in shares)	14,311	14,528	14,322	14,565
Basic (in dollars per share)	$ 0.79	$ 0.66	$ 1.96	$ 1.49
Diluted (in dollars per share)	$ 0.78	$ 0.65	$ 1.94	$ 1.47

Acquisitions of Red Robin Fra30

Acquisitions of Red Robin Franchised Restaurants (Details) $ in Thousands	Jul. 14, 2014USD ($)restaurant	Mar. 24, 2014USD ($)restaurantfranchisee	Jul. 12, 2015USD ($)	Dec. 28, 2014USD ($)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill			$ 83,033	$ 84,115
Series of business acquisitions, 2014
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Property, plant and equipment			14,157
Intangible assets			9,394
Goodwill			23,111
Inventory			2,088
Deferred Tax Assets			2,091
Deferred Tax Liabilities			(1,161)
Other current and non-current assets			737
Other current and non-current liabilities			(2,906)
Total purchase price			$ 47,511
March 2014, acquisition of four franchise restaurants
Business Acquisition [Line Items]
Number of franchisees | franchisee		1
Purchase price, cash		$ 8,000
July 2014, Acquisition of 32 Red Robin franchised restaurant
Business Acquisition [Line Items]
Number of restaurants acquired from franchisees | restaurant	32
Purchase price, cash	$ 39,500
United States | March 2014, acquisition of four franchise restaurants
Business Acquisition [Line Items]
Number of restaurants acquired from franchisees | restaurant		4
United States | July 2014, Acquisition of 32 Red Robin franchised restaurant
Business Acquisition [Line Items]
Number of restaurants acquired from franchisees | restaurant	14
Canada | July 2014, Acquisition of 32 Red Robin franchised restaurant
Business Acquisition [Line Items]
Number of restaurants acquired from franchisees | restaurant	18

Impairment and Restaurant Clo31

Impairment and Restaurant Closures (Details)	6 Months Ended
	Jul. 12, 2015USD ($)restaurant	Jul. 13, 2014USD ($)restaurant
Restructuring and Related Activities [Abstract]
Number of restaurants closed	1	2
Impairment recorded | $	$ 0	$ 0

Advertising Costs (Details)

Advertising Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 12, 2015	Jul. 13, 2014	Jul. 12, 2015	Jul. 13, 2014
Other Income and Expenses [Abstract]
Advertising and marketing costs	$ 12	$ 11.1	$ 26.5	$ 23.4
Selling related expenses	$ 11.1	$ 9.9	$ 24.1	$ 20.2

Derivative Financial Instrume33

Derivative Financial Instruments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2015USD ($)	Jul. 13, 2014USD ($)	Jul. 12, 2015USD ($)	Jul. 13, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 28, 2014USD ($)interest_rate_swap	Aug. 05, 2011USD ($)
Interest Rate Swap | Rabobank
Derivative and other comprehensive income
Number of derivative instruments held | interest_rate_swap						1
Estimated notional hedge amount on expiration date which is June 30, 2015					$ 50,600
Fixed rate of interest on derivative (as a percent)	1.135%		1.135%
Cash Flow Hedging
Derivative and other comprehensive income
Losses recognized in OCI on derivative (effective portion)	$ 0	$ (7)	$ (3)	$ (78)
Losses reclassified from AOCI into income (effective portion)	$ (13)	$ (22)	$ (36)	$ (51)
Cash Flow Hedging | Interest Rate Swap | Rabobank
Derivative and other comprehensive income
Notional amount of derivatives						$ 54,400	$ 74,100

Derivative Financial Instrume34

Derivative Financial Instruments (Details 1) - Designated as hedging instruments - Interest Rate Swap - USD ($) $ in Thousands	Jul. 12, 2015	Dec. 28, 2014
Derivative and other comprehensive income
Total derivatives	$ 0	$ 347
Accrued liabilities
Derivative and other comprehensive income
Accrued liabilities	$ 0	$ 347

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands	Jul. 12, 2015	Dec. 28, 2014
Assets:
Investments in rabbi trust	$ 6,806	$ 5,723
Total assets measured at fair value	6,806	5,723
Liabilities:
Derivative—interest rate swap	0	347
Total liabilities measured at fair value	0	347
Level 1
Assets:
Investments in rabbi trust	6,806	5,723
Total assets measured at fair value	6,806	5,723
Liabilities:
Derivative—interest rate swap	0	0
Total liabilities measured at fair value	0	0
Level 2
Assets:
Investments in rabbi trust	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative—interest rate swap	0	347
Total liabilities measured at fair value	0	347
Level 3
Assets:
Investments in rabbi trust	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative—interest rate swap	0	0
Total liabilities measured at fair value	$ 0	$ 0

Fair Value Measurements (Deta36

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Jul. 12, 2015	Dec. 28, 2014
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility	$ 136,000	$ 138,500
Capital lease obligations	8,196	8,521
Total	144,196	147,021
Estimated Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility	135,896	138,397
Capital lease obligations	9,550	10,004
Total	$ 145,446	$ 148,401