Noodles & Company (NDLS) 10-Q 27 Apr 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 29, 2022	Apr. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2022
Document Transition Report	false
Entity File Number	001-35987
Entity Registrant Name	NOODLES & COMPANY
Entity Central Index Key	0001275158
Amendment Flag	false
Current Fiscal Year End Date	--01-03
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-1303469
Entity Address, Address Line One	520 Zang Street, Suite D
Entity Address, City or Town	Broomfield
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80021
City Area Code	720
Local Phone Number	214-1900
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	NDLS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,834,723

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Current assets:
Cash and cash equivalents	$ 1,601	$ 2,255
Accounts receivable	4,425	3,958
Inventories	9,719	9,404
Prepaid expenses and other assets	3,779	6,837
Income tax receivable	107	108
Total current assets	19,631	22,562
Property and equipment, net	122,320	119,276
Operating lease assets, net	186,493	188,440
Goodwill	7,154	7,154
Intangibles, net	654	668
Other assets, net	1,520	3,359
Total long-term assets	318,141	318,897
Total assets	337,772	341,459
Current liabilities:
Accounts payable	15,307	15,543
Accrued payroll and benefits	11,130	18,600
Accrued expenses and other current liabilities	12,209	13,791
Current operating lease liabilities	27,149	26,617
Current portion of long-term debt	1,813	2,031
Total current liabilities	67,608	76,582
Long-term debt, net	32,306	18,931
Long-term operating lease liabilities, net	196,922	200,243
Deferred tax liabilities, net	185	269
Other long-term liabilities	8,706	7,801
Total liabilities	305,727	303,826
Stockholders’ equity:
Preferred stock—$0.01 par value, 1,000,000 shares authorized and undesignated as of March 29, 2022 and December 28, 2021; no shares issued or outstanding	0	0
Common stock—$0.01 par value, 180,000,000 shares authorized as of March 29, 2022 and December 28, 2021; 48,258,594 issued and 45,834,723 outstanding as of March 29, 2022 and 48,125,151 issued and 45,701,280 outstanding as of December 28, 2021	483	481
Treasury stock, at cost, 2,423,871 shares as of March 29, 2022 and December 28, 2021	(35,000)	(35,000)
Additional paid-in capital	208,065	207,226
Accumulated deficit	(141,503)	(135,074)
Total stockholders’ equity	32,045	37,633
Total liabilities and stockholders’ equity	$ 337,772	$ 341,459

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 29, 2022	Dec. 28, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares, issued	48,258,594	48,125,151
Common stock, shares, outstanding	45,834,723	45,701,280
Treasury stock, shares	2,423,871	2,423,871

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Revenue:
Total revenue	$ 112,562	$ 109,577
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Other restaurant operating costs	21,866	20,205
General and administrative	11,840	10,929
Depreciation and amortization	5,721	5,587
Pre-opening	408	58
Restaurant impairments, closure costs and asset disposals	1,389	1,231
Total costs and expenses	118,637	110,942
Loss from operations	(6,075)	(1,365)
Interest expense, net	437	622
Loss before taxes	(6,512)	(1,987)
Benefit from income taxes	(83)	(10)
Net loss	$ (6,429)	$ (1,977)
Loss per Class A and Class B common stock, combined
Basic (USD per share)	$ (0.14)	$ (0.04)
Diluted (USD per share)	$ (0.14)	$ (0.04)
Weighted average shares of Class A and Class B common stock outstanding, combined:
Basic (in shares)	45,726,500	45,098,028
Diluted (in shares)	45,726,500	45,098,028
Restaurant revenue
Revenue:
Total revenue	$ 109,961	$ 107,744
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Restaurant operating costs	30,771	26,977
Franchising royalties and fees, and other
Revenue:
Total revenue	2,601	1,833
Labor
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Restaurant operating costs	35,493	34,306
Occupancy
Restaurant operating costs (exclusive of depreciation and amortization shown separately below):
Restaurant operating costs	$ 11,149	$ 11,649

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands		Total	Common Stock		Treasury Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 29, 2020			46,807,587	[1]	2,423,871
Beginning balance at Dec. 29, 2020		$ 29,699	$ 468	[1]	$ (35,000)	$ 202,970	$ (138,739)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
L Catterton warrants exercised (in shares)	[1]		975,458
L Catterton warrants exercised		0	$ 10	[1]		(10)
Stock plan transactions and other (in shares)	[1]		107,443
Stock plan transactions and other		(335)	$ 1	[1]		(336)
Stock-based compensation expense		738				738
Net income (loss)		(1,977)					(1,977)
Ending balance (in shares) at Mar. 30, 2021			47,890,488	[1]	2,423,871
Ending balance at Mar. 30, 2021		28,125	$ 479	[1]	$ (35,000)	203,362	(140,716)
Beginning balance (in shares) at Dec. 28, 2021			48,125,151	[1]	2,423,871
Beginning balance at Dec. 28, 2021		37,633	$ 481	[1]	$ (35,000)	207,226	(135,074)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock plan transactions and other (in shares)	[1]		133,443
Stock plan transactions and other		(299)	$ 2	[1]		(301)
Stock-based compensation expense		1,140				1,140
Net income (loss)		(6,429)					(6,429)
Ending balance (in shares) at Mar. 29, 2022			48,258,594	[1]	2,423,871
Ending balance at Mar. 29, 2022		$ 32,045	$ 483	[1]	$ (35,000)	$ 208,065	$ (141,503)
[1]	Unless otherwise noted, activity relates to Class A common stock.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Operating activities
Net loss	$ (6,429)	$ (1,977)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	5,721	5,587
Deferred income taxes	(84)	(10)
Restaurant impairments, closure costs and asset disposals	496	618
Amortization of debt issuance costs	112	111
Stock-based compensation	1,120	720
Changes in operating assets and liabilities:
Accounts receivable	(513)	71
Inventories	(315)	111
Prepaid expenses and other assets	1,378	(717)
Accounts payable	(716)	3,543
Income taxes	1	0
Operating lease assets and liabilities	(826)	(1,412)
Accrued expenses and other liabilities	(6,005)	(2,866)
Net cash (used in) provided by operating activities	(6,060)	3,779
Investing activities
Purchases of property and equipment	(8,412)	(2,733)
Proceeds from restaurant divestitures	1,577	0
Net cash used in investing activities	(6,835)	(2,733)
Financing activities
Net borrowings from swing line loan	3,195	0
Proceeds from borrowings on long-term debt	10,600	0
Payments on long-term debt	(750)	(5,042)
Payments on finance leases	(505)	(392)
Stock plan transactions and tax withholding on share-based compensation awards	(299)	(335)
Net cash provided by (used in) financing activities	12,241	(5,769)
Net decrease in cash and cash equivalents	(654)	(4,723)
Cash and cash equivalents
Beginning of period	2,255	7,840
End of period	$ 1,601	$ 3,117

Business Summary and Basis of P

Business Summary and Basis of Presentation	3 Months Ended
	Mar. 29, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Summary and Basis of Presentation	Business Summary and Basis of Presentation Business Noodles & Company (the “Company”), a Delaware corporation, develops and operates fast casual restaurants that serve globally inspired noodle and pasta dishes, soups, salads and appetizers. As of March 29, 2022, the Company had 453 restaurants system-wide in 30 states, comprised of 360 company-owned restaurants and 93 franchise restaurants. The Company operates its business as one operating and reportable segment. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Noodles & Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of the Company, all adjustments considered necessary for the fair presentation of the Company’s results of operations, financial position and cash flows for the periods presented have been included and are of a normal, recurring nature. 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. 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, 2021 was derived from audited financial statements. These financial statements should be read in conjunction with the audited financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2021. Fiscal Year The Company operates on a 52- or 53-week fiscal year ending on the Tuesday closest to December 31. The Company’s fiscal quarters each contain 13 operating weeks, with the exception of the fourth quarter of a 53-week fiscal year, which contains 14 operating weeks. Fiscal year 2022, which ends on January 3, 2023 contains 53 weeks and fiscal year 2021, which ended on December 28, 2021, contained 52 weeks. The Company’s fiscal quarter that ended March 29, 2022 is referred to as the first quarter of 2022, and the fiscal quarter ended March 30, 2021 is referred to as the first quarter of 2021. Recent Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The Company may elect to apply the amendments prospectively through December 31, 202 2. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Mar. 29, 2022
Supplemental Financial Information [Abstract]
Supplemental Financial Information	Supplemental Financial Information Accounts receivable consist of the following (in thousands): March 29, December 28, Delivery program receivables $ 1,812 $ 1,467 Vendor rebate receivables 943 695 Franchise receivables 772 644 Other receivables 898 1,152 Accounts receivable $ 4,425 $ 3,958 Prepaid expenses and other assets consist of the following (in thousands): March 29, December 28, Prepaid insurance $ 224 $ 853 Prepaid occupancy related costs 51 73 Current assets held for sale (1) — 3,514 Prepaid expenses 3,349 2,272 Other current assets 155 125 Prepaid expenses and other assets $ 3,779 $ 6,837 _____________________________ (1) Current assets held for sale as of December 28, 2021 included assets held in connection with the divestiture of 15 company-owned restaurants to a franchisee (“Warner Sale”) which closed in January 2022. Property and equipment, net, consists of the following (in thousands): March 29, December 28, Leasehold improvements $ 202,560 $ 197,722 Furniture, fixtures and equipment 143,023 140,698 Construction in progress 7,411 6,306 352,994 344,726 Accumulated depreciation and amortization (230,674) (225,450) Property and equipment, net $ 122,320 $ 119,276 Accrued payroll and benefits consist of the following (in thousands): March 29, December 28, Accrued payroll and related liabilities $ 6,990 $ 9,851 Accrued bonus 1,190 5,078 Insurance liabilities 2,950 3,671 Accrued payroll and benefits $ 11,130 $ 18,600 Accrued expenses and other current liabilities consist of the following (in thousands): March 29, December 28, Gift card liability $ 2,367 $ 2,850 Occupancy related 1,670 1,615 Utilities 1,181 1,302 Current portion of finance lease liability 2,029 1,956 Liabilities held for sale (1) — 1,671 Accrued interest 222 271 Insurance liabilities 358 393 Other restaurant expense accruals 1,322 995 Other corporate expense accruals 3,060 2,738 Accrued expenses and other current liabilities $ 12,209 $ 13,791 _____________________________ (1) Liabilities held for sale as of December 28, 2021 included liabilities held in connection with the Warner Sale which closed in January 2022.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 29, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt On May 9, 2018, the Company entered into a credit facility with U.S. Bank National Association (the “2018 Credit Facility”). The 2018 Credit Facility consisted of a term loan facility in an aggregate principal amount of $25.0 million and a revolving credit facility of $65.0 million, which included a letter of credit subfacility in the amount of $15.0 million and a swingline subfacility in the amount of $10.0 million. On November 20, 2019, the Company amended its 2018 Credit Facility by entering into the First Amendment to the Credit Agreement (the “Amendment” and the 2018 Credit Facility, as amended, the “First Amended Credit Facility”). Among other things, the Amendment: (i) extended the maturity date to November 20, 2024; (ii) increased the revolving credit facility from $65.0 million to $75.0 million; (iii) delayed step downs of the Company’s leverage covenant; and (iv) increased the limit on capital expenditures to $37.0 million in 2020 and to $45.0 million in 2021 and each fiscal year thereafter. Borrowings under the First Amended Credit Facility, including the term loan facility, bear interest annually, at the Company’s option, at either (i) LIBOR plus a margin of 2.00% to 2.75% per annum, based upon the consolidated total lease-adjusted leverage ratio or (ii) the highest of the following base rates plus a margin of 1.00% to 1.75% per annum: (a) the federal funds rate plus 0.50%; (b) the U.S. Bank prime rate or (c) the one-month LIBOR plus 1.00%. The Amendment includes a commitment fee of 0.20% to 0.35% per annum, based upon the consolidated total lease-adjusted leverage ratio, on any unused portion of the revolving credit facility. On June 16, 2020 (the “Effective Date”), the Company amended its First Amended Credit Facility by entering into the Second Amendment to the Credit Agreement (the “Second Amendment” and the First Amended Credit Facility, as amended, or the “Second Amended Credit Facility”). Beginning on the Effective Date and through the third quarter of 2021 (the “Amendment Period”), borrowings under the Second Amended Credit Facility, including the term loan facility, bore interest at LIBOR plus 3.25% per annum. Following the Amendment Period, borrowings bore interest at LIBOR plus a margin of 2.00% to 3.00% per annum, based upon the consolidated total lease-adjusted leverage ratio. Through the end of the first quarter of 2022, the Company continued to use LIBOR. Among other things, the Second Amendment (i) waives the lease-adjusted leverage ratio and fixed charge ratio covenants through the first quarter of 2021; (ii) amends the Company’s lease-adjusted leverage ratio and fixed coverage ratio covenant thresholds beginning in the second quarter of 2021 through the third quarter of 2022 and the first quarter of 2022, respectively; and (iii) limits capital expenditures to $12.0 million in 2020, $12.0 million plus a liquidity-based performance basket up to an additional $12.0 million in 2021, $34.0 million in 2022, $37.0 million in 2023 and $45.0 million annually thereafter. As of March 29, 2022, the Company had $35.3 million of indebtedness (excluding $1.2 million of unamortized debt issuance costs) and $3.2 million of l etters of credit outstanding under the Second Amended Credit Facility. As of March 29, 2022, the Company had cash on hand of $1.6 million. The term loan requires principal payments of $375,000 per quarter through the third quarter of 2022, $531,250 per quarter through the third quarter of 2023 and $625,000 per quarter thereafter through maturity. Aggregate maturities for debt outstanding as of March 29, 2022 are as follows (in thousands): Year 1 $ 1,813 Year 2 2,313 Year 3 31,169 Total $ 35,295 The Company’s outstanding indebtedness bore interest at rates betw een 2.35% to 4.75% duri ng the first quarter of 2022.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 29, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and all other current liabilities approximate their fair values due to their short-term nature. The carrying amounts of borrowings approximate fair value as the line of credit and term borrowings vary with market interest rates and negotiated terms and conditions are consistent with current market rates. The fair value of the Company’s line of credit and term borrowings are measured using Level 2 inputs. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets recognized or disclosed at fair value in the condensed consolidated financial statements on a non-recurring basis include items such as leasehold improvements, property and equipment, operating lease assets, goodwill and other intangible assets. These assets are measured at fair value if determined to be impaired or when acquired.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 29, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table presents the Company’s provision for income taxes (in thousands): Fiscal Quarter Ended March 29, March 30, Benefit from income taxes $ (83) $ (10) Effective tax rate 1.3 % 0.5 % The effective tax rate for the first quarter of 2022 and the first quarter of 2021 ref lects the impact of the previously recorded valuation allowance. For the remainder of fiscal 2022, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded. The Company will maintain the valuation allowance against deferred tax assets until there is sufficient evidence to support a full or partial reversal. The reversal of a previously recorded valuation allowance will generally result in a benefit from income tax.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 29, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company’s Stock Incentive Plan (the “Plan”), as amended and restated in May of 2013, authorizes the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance share units and incentive bonuses to employees, officers, non-employee directors and other service providers. As of March 29, 2022, approximate ly 2.5 million share-based awards were available to be granted under the Plan. The following table shows total stock-based compensation expense (in thousands): Fiscal Quarter Ended March 29, March 30, Stock-based compensation expense $ 1,169 $ 802 Capitalized stock-based compensation expense $ 20 $ 18

Restaurant Impairments, Closure

Restaurant Impairments, Closure Costs and Asset Disposals	3 Months Ended
	Mar. 29, 2022
Discontinued Operations and Disposal Groups [Abstract]
Restaurant Impairments, Closure Costs and Asset Disposals	Restaurant Impairments, Closure Costs and Asset Disposals The following table presents restaurant impairments, closure costs and asset disposals (in thousands): Fiscal Quarter Ended March 29, March 30, Restaurant impairments (1) $ 106 $ 502 Closure costs (1) 389 305 Loss on disposal of assets and other 894 424 $ 1,389 $ 1,231 _____________________________ (1) Restaurant impairments and closure costs in all periods presented above include amounts related to restaurants previously impaired or closed. The Company did not impair any restaurants in t he first quarter of 2022 and had one restaurant impairment in the first quarter of 2021. I mpairment is based on management’s current assessment of the expected future cash flows of a restaurant based on recent results and other specific market factors. Impairment expense is a Level 3 fair value measure and is determined by comparing the carrying value of restaurant assets to the estimated fair value of the restaurant assets at resale value and the right-of-use asset based on a discounted cash flow analysis utilizing market lease rates. The Company will continue to monitor the impact from the COVID-19 pandemic as it relates to recoverability of long-lived assets. Although the Company has seen an improvement in sales, the Company is unable to predict how long these conditions will persist, what additional measures may be introduced by governments or what effect any such additional measures may have on restaurants and our business. Any measure that encourages consumers to stay in their homes, engage in social distancing or avoid larger gatherings of people for an extended period of time is and has been highly likely to continue to be harmful to the restaurant industry in general. Closure costs in the first quarter of 2022 include ongoing costs related to restaurants closed in previous years as well as two company-owned restaurant closures during the first quarter of 2022. Closure costs in the first quarter of 2021 include ongoing costs related to restaurants closed in previous years, as well as six company-owned restaurant closures during the first quarter of 2021 . Loss on disposal of assets and other for the first quarter of 2022 includes expenses related to the divestiture of company-owned restaurants related to the Warner Sale. Both periods include disposals of assets in the normal course of business.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 29, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per ShareBasic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net income (loss) available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options, warrants and RSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data): Fiscal Quarter Ended March 29, March 30, Net loss $ (6,429) $ (1,977) Shares: Basic weighted average shares outstanding 45,726,500 45,098,028 Effect of dilutive securities — — Diluted weighted average shares outstanding 45,726,500 45,098,028 Loss per share: Basic loss per share $ (0.14) $ (0.04) Diluted loss per share $ (0.14) $ (0.04) The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings (loss) per share when the effect would be anti-dilutive. The shares issuable on the vesting or exercise of share-based awards or exercise of outstanding warrants that were excluded from the calculation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive totaled 1,018,962 and 769,732 for the first quarters of 2022 and 2021, respectively.

Leases

Leases	3 Months Ended
	Mar. 29, 2022
Leases [Abstract]
Leases	Leases Supplemental balance sheet information related to leases is as follows (in thousands): Classification March 29, December 28, Assets Operating Operating lease assets, net $ 186,493 $ 188,440 Finance Property and equipment 6,350 6,394 Total leased assets $ 192,843 $ 194,834 Liabilities Current lease liabilities Operating Current operating lease liabilities $ 27,149 $ 26,617 Finance Accrued expenses and other current liabilities 2,029 1,956 Long-term lease liabilities Operating Long-term operating lease liabilities 196,922 200,243 Finance Other long-term liabilities 4,572 4,654 Total lease liabilities $ 230,672 $ 233,470 Sublease income recognized in the Condensed Consolidated Statements of Operations was $0.8 million and $0.5 million for the first quarter of 2022 and 2021, respectively. For certain of the Company’s restaurants, the COVID-19 pandemic has had an impact on the underlying asset values. In the first quarter of 2021, the Company recorded a right-of-use asset impairment charge for one restaurant to reduce the carrying value of operating lease assets to its respective estimated fair value. In the first quarters of 2021, we recorded an impairment charge of $0.3 million on the right-of-use assets of one restaurant that was impaired in the first quarter of 2021. There was no impairment to the Company’s right-of-use assets during the first quarter of 2022. Supplemental disclosures of cash flow information related to leases are as follows (in thousands): Fiscal Quarter Ended March 29, March 30, Cash paid for lease liabilities: Operating leases $ 10,444 $ 11,666 Finance leases 614 525 $ 11,058 $ 12,191 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 3,832 $ 573 Finance leases 722 651 $ 4,554 $ 1,224
Leases	Leases Supplemental balance sheet information related to leases is as follows (in thousands): Classification March 29, December 28, Assets Operating Operating lease assets, net $ 186,493 $ 188,440 Finance Property and equipment 6,350 6,394 Total leased assets $ 192,843 $ 194,834 Liabilities Current lease liabilities Operating Current operating lease liabilities $ 27,149 $ 26,617 Finance Accrued expenses and other current liabilities 2,029 1,956 Long-term lease liabilities Operating Long-term operating lease liabilities 196,922 200,243 Finance Other long-term liabilities 4,572 4,654 Total lease liabilities $ 230,672 $ 233,470 Sublease income recognized in the Condensed Consolidated Statements of Operations was $0.8 million and $0.5 million for the first quarter of 2022 and 2021, respectively. For certain of the Company’s restaurants, the COVID-19 pandemic has had an impact on the underlying asset values. In the first quarter of 2021, the Company recorded a right-of-use asset impairment charge for one restaurant to reduce the carrying value of operating lease assets to its respective estimated fair value. In the first quarters of 2021, we recorded an impairment charge of $0.3 million on the right-of-use assets of one restaurant that was impaired in the first quarter of 2021. There was no impairment to the Company’s right-of-use assets during the first quarter of 2022. Supplemental disclosures of cash flow information related to leases are as follows (in thousands): Fiscal Quarter Ended March 29, March 30, Cash paid for lease liabilities: Operating leases $ 10,444 $ 11,666 Finance leases 614 525 $ 11,058 $ 12,191 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 3,832 $ 573 Finance leases 722 651 $ 4,554 $ 1,224

Supplemental Disclosures to Con

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows	3 Months Ended
	Mar. 29, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows	Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows The following table presents the supplemental disclosures to the Condensed Consolidated Statements of Cash Flows for the first quarter ended March 29, 2022 and March 30, 2021 (in thousands): March 29, March 30, Interest paid (net of amounts capitalized) $ 245 $ 709 Income taxes paid (refunded) 1 — Purchases of property and equipment accrued in accounts payable 5,820 2,398

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 29, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Revenue consists of sales from restaurant operations, franchise royalties and fees, and sublease income. Revenue from the operation of company-owned restaurants is recognized when sales occur. The Company reports revenue net of sales tax collected from customers and remitted to governmental taxing authorities. Gift Cards The Company sells gift cards which do not have an expiration date, and it does not deduct non-usage fees from outstanding gift card balances. The Company recognizes revenue from gift cards when the gift card is redeemed by the customer or the Company determines the likelihood of the gift card being redeemed by the customer is remote (“gift card breakage”). The determination of the gift card breakage rate is based upon Company-specific historical redemption patterns. The Company has determined that approximately 9% of gift cards will not be redeemed and recognizes gift card breakage ratably over the estimated redemption period of the gift card, which is approximately 24 months. Gift card liability balances are typically highest at the end of each calendar year following increased gift card purchases during the holiday season. As of March 29, 2022 and December 28, 2021, the current portion of the gift card liability, $2.4 million and $2.9 million, respectively, was included in accrued expenses and other current liabilities, and the long-term portion, $0.6 million and $0.6 million, respectively, was included in other long-term liabilities in the Condensed Consolidated Balance Sheets. Revenue recognized in the Condensed Consolidated Statements of Operations for the redemption of gift cards was $1.0 million and $1.1 million for the first quarters of 2022 and 2021, respectively. Franchise Fees Royalties from franchise restaurants are based on a percentage of restaurant revenues and are recognized in the period the related franchised restaurants’ sales occur. Dev elopment fees and franchise fees, portions of which are collected in advance, are nonrefundable and are recognized in income ratably over the term of the related franchise agreement or recognized upon the termination of the agreement between the Company and the franchisee. The Company has determined that the initial franchise services are not distinct from the continuing rights or services offered during the term of the franchise agreement and should be treated as a single performance obligation; therefore, initial fees received from franchisees are recognized as revenue over the term of each respective franchise agreement, which is typically 20 years. Loyalty Program The Company operates the Noodles Rewards program, which is primarily a spend-based loyalty program. With each purchase, Noodles Rewards members earn loyalty points that can be redeemed for rewards, including free products. Using an estimate of the value of reward redemptions, we defer revenue associated with points earned, net of estimated points that will not be redeemed based upon the Company’s historical redemption patterns. Points generally expire after six months. Revenue is recognized in a future period when the reward points are redeemed. As of March 29, 2022 and December 28, 2021, the deferred revenue related to the rewards wa s $0.4 million and is included in accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the normal course of business, the Company is subject to other proceedings, lawsuits and claims. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. Consequently, the Company is unable to ascertain the ultimate aggregate amount of monetary liability or financial impact with respect to these matters as of March 29, 2022. These matters could affect the operating results of any one financial reporting period when resolved in future periods. The Company believes that an unfavorable outcome with respect to these matters is remote or a potential range of loss is not material to its consolidated financial statements. Significant increases in the number of these claims, or one or more successful claims that result in greater liabilities than the Company currently anticipates, could materially and adversely affect its business, financial condition, results of operations or cash flows.

Business Summary and Basis of_2

Business Summary and Basis of Presentation (Policies)	3 Months Ended
	Mar. 29, 2022
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 Noodles & Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of the Company, all adjustments considered necessary for the fair presentation of the Company’s results of operations, financial position and cash flows for the periods presented have been included and are of a normal, recurring nature. 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. 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, 2021 was derived from audited financial statements. These financial statements should be read in conjunction with the audited financial statements and the related notes included in the Company’s
Fiscal Year	Fiscal Year The Company operates on a 52- or 53-week fiscal year ending on the Tuesday closest to December 31. The Company’s fiscal quarters each contain 13 operating weeks, with the exception of the fourth quarter of a 53-week fiscal year, which contains 14 operating weeks. Fiscal year 2022, which ends on January 3, 2023 contains 53 weeks and fiscal year 2021, which ended on December 28, 2021, contained 52 weeks. The Company’s fiscal quarter that ended March 29, 2022 is referred to as the first quarter of 2022, and the fiscal quarter ended March 30, 2021 is referred to as the first quarter of 2021.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The Company may elect to apply the amendments prospectively through December 31, 202 2. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures.

Supplemental Financial Inform_2

Supplemental Financial Information (Tables)	3 Months Ended
	Mar. 29, 2022
Supplemental Financial Information [Abstract]
Schedule of Accounts Receivable	Accounts receivable consist of the following (in thousands): March 29, December 28, Delivery program receivables $ 1,812 $ 1,467 Vendor rebate receivables 943 695 Franchise receivables 772 644 Other receivables 898 1,152 Accounts receivable $ 4,425 $ 3,958
Schedule of Prepaid Expenses and Other Assets	Prepaid expenses and other assets consist of the following (in thousands): March 29, December 28, Prepaid insurance $ 224 $ 853 Prepaid occupancy related costs 51 73 Current assets held for sale (1) — 3,514 Prepaid expenses 3,349 2,272 Other current assets 155 125 Prepaid expenses and other assets $ 3,779 $ 6,837 _____________________________ (1) Current assets held for sale as of December 28, 2021 included assets held in connection with the divestiture of 15 company-owned restaurants to a franchisee (“Warner Sale”) which closed in January 2022.
Schedule of Property and Equipment	Property and equipment, net, consists of the following (in thousands): March 29, December 28, Leasehold improvements $ 202,560 $ 197,722 Furniture, fixtures and equipment 143,023 140,698 Construction in progress 7,411 6,306 352,994 344,726 Accumulated depreciation and amortization (230,674) (225,450) Property and equipment, net $ 122,320 $ 119,276
Schedule of Accrued Payroll and Benefits	Accrued payroll and benefits consist of the following (in thousands): March 29, December 28, Accrued payroll and related liabilities $ 6,990 $ 9,851 Accrued bonus 1,190 5,078 Insurance liabilities 2,950 3,671 Accrued payroll and benefits $ 11,130 $ 18,600
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): March 29, December 28, Gift card liability $ 2,367 $ 2,850 Occupancy related 1,670 1,615 Utilities 1,181 1,302 Current portion of finance lease liability 2,029 1,956 Liabilities held for sale (1) — 1,671 Accrued interest 222 271 Insurance liabilities 358 393 Other restaurant expense accruals 1,322 995 Other corporate expense accruals 3,060 2,738 Accrued expenses and other current liabilities $ 12,209 $ 13,791 _____________________________ (1) Liabilities held for sale as of December 28, 2021 included liabilities held in connection with the Warner Sale which closed in January 2022.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 29, 2022
Debt Disclosure [Abstract]
Schedule of Aggregate Maturities for Debt Outstanding	Aggregate maturities for debt outstanding as of March 29, 2022 are as follows (in thousands): Year 1 $ 1,813 Year 2 2,313 Year 3 31,169 Total $ 35,295

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 29, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The following table presents the Company’s provision for income taxes (in thousands): Fiscal Quarter Ended March 29, March 30, Benefit from income taxes $ (83) $ (10) Effective tax rate 1.3 % 0.5 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 29, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	The following table shows total stock-based compensation expense (in thousands): Fiscal Quarter Ended March 29, March 30, Stock-based compensation expense $ 1,169 $ 802 Capitalized stock-based compensation expense $ 20 $ 18

Restaurant Impairments, Closu_2

Restaurant Impairments, Closure Costs and Asset Disposals (Tables)	3 Months Ended
	Mar. 29, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Restaurant Impairments, Closure Costs and Asset Disposals	The following table presents restaurant impairments, closure costs and asset disposals (in thousands): Fiscal Quarter Ended March 29, March 30, Restaurant impairments (1) $ 106 $ 502 Closure costs (1) 389 305 Loss on disposal of assets and other 894 424 $ 1,389 $ 1,231 _____________________________

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 29, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted EPS	The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data): Fiscal Quarter Ended March 29, March 30, Net loss $ (6,429) $ (1,977) Shares: Basic weighted average shares outstanding 45,726,500 45,098,028 Effect of dilutive securities — — Diluted weighted average shares outstanding 45,726,500 45,098,028 Loss per share: Basic loss per share $ (0.14) $ (0.04) Diluted loss per share $ (0.14) $ (0.04)

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 29, 2022
Leases [Abstract]
Schedule of Supplemental Lease Information	Supplemental balance sheet information related to leases is as follows (in thousands): Classification March 29, December 28, Assets Operating Operating lease assets, net $ 186,493 $ 188,440 Finance Property and equipment 6,350 6,394 Total leased assets $ 192,843 $ 194,834 Liabilities Current lease liabilities Operating Current operating lease liabilities $ 27,149 $ 26,617 Finance Accrued expenses and other current liabilities 2,029 1,956 Long-term lease liabilities Operating Long-term operating lease liabilities 196,922 200,243 Finance Other long-term liabilities 4,572 4,654 Total lease liabilities $ 230,672 $ 233,470 Supplemental disclosures of cash flow information related to leases are as follows (in thousands): Fiscal Quarter Ended March 29, March 30, Cash paid for lease liabilities: Operating leases $ 10,444 $ 11,666 Finance leases 614 525 $ 11,058 $ 12,191 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 3,832 $ 573 Finance leases 722 651 $ 4,554 $ 1,224

Supplemental Disclosures to C_2

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows (Tables)	3 Months Ended
	Mar. 29, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Disclosures to the Condensed Consolidated Statements of Cash Flows	The following table presents the supplemental disclosures to the Condensed Consolidated Statements of Cash Flows for the first quarter ended March 29, 2022 and March 30, 2021 (in thousands): March 29, March 30, Interest paid (net of amounts capitalized) $ 245 $ 709 Income taxes paid (refunded) 1 — Purchases of property and equipment accrued in accounts payable 5,820 2,398

Business Summary and Basis of_3

Business Summary and Basis of Presentation (Details)	3 Months Ended
	Mar. 29, 2022restaurantsegmentstate
Franchisor Disclosure [Line Items]
Number of restaurants	453
Number of states with operations | state	30
Number of operating segments | segment	1
Number of reportable segments | segment	1
Company-owned
Franchisor Disclosure [Line Items]
Number of restaurants	360
Franchise
Franchisor Disclosure [Line Items]
Number of restaurants	93

Supplemental Financial Inform_3

Supplemental Financial Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 4,425	$ 3,958
Delivery program receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	1,812	1,467
Vendor rebate receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	943	695
Franchise receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	772	644
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 898	$ 1,152

Supplemental Financial Inform_4

Supplemental Financial Information - Prepaid Expenses and Other Assets (Details) $ in Thousands	1 Months Ended
	Jan. 31, 2022restaurant	Mar. 29, 2022USD ($)	Dec. 28, 2021USD ($)
Supplemental Financial Information [Abstract]
Prepaid insurance		$ 224	$ 853
Prepaid occupancy related costs		51	73
Current assets held for sale		0	3,514
Prepaid expenses		3,349	2,272
Other current assets		155	125
Prepaid expenses and other assets		$ 3,779	$ 6,837
Number of restaurants divested | restaurant	15

Supplemental Financial Inform_5

Supplemental Financial Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 352,994	$ 344,726
Accumulated depreciation and amortization	(230,674)	(225,450)
Property and equipment, net	122,320	119,276
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	202,560	197,722
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	143,023	140,698
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,411	$ 6,306

Supplemental Financial Inform_6

Supplemental Financial Information - Accrued Payroll and Benefits (Details) - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Supplemental Financial Information [Abstract]
Accrued payroll and related liabilities	$ 6,990	$ 9,851
Accrued bonus	1,190	5,078
Insurance liabilities	2,950	3,671
Accrued payroll and benefits	$ 11,130	$ 18,600

Supplemental Financial Inform_7

Supplemental Financial Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Supplemental Financial Information [Abstract]
Gift card liability	$ 2,367	$ 2,850
Occupancy related	1,670	1,615
Utilities	1,181	1,302
Current portion of finance lease liability	2,029	1,956
Liabilities held for sale	0	1,671
Accrued interest	222	271
Insurance liabilities	358	393
Other restaurant expense accruals	1,322	995
Other corporate expense accruals	3,060	2,738
Accrued expenses and other current liabilities	$ 12,209	$ 13,791

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	Nov. 20, 2019	Mar. 29, 2022	Sep. 27, 2022	Oct. 03, 2023	Sep. 27, 2022	Nov. 20, 2024	Sep. 28, 2021	Nov. 20, 2024	Dec. 28, 2021	Jun. 16, 2020	May 09, 2018
Line of Credit Facility [Line Items]
Indebtedness		$ 35,295,000
Unamortized debt issuance costs		1,200,000
Letters of credit outstanding		3,200,000
Cash on hand		$ 1,601,000							$ 2,255,000
Minimum
Line of Credit Facility [Line Items]
Interest rate during period		2.35%
Maximum
Line of Credit Facility [Line Items]
Interest rate during period		4.75%
2018 Credit Facility | Term loan
Line of Credit Facility [Line Items]
Aggregate principal amount											$ 25,000,000
2018 Credit Facility | Term loan | Forecast
Line of Credit Facility [Line Items]
Quarterly principal payments			$ 375,000	$ 531,250		$ 625,000
Frequency of periodic payment					quarter
2018 Credit Facility | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											65,000,000
2018 Credit Facility | Letter of credit subfacility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											15,000,000
2018 Credit Facility | Swingline subfacility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											$ 10,000,000
First Amended Credit Facility
Line of Credit Facility [Line Items]
Limit on capital expenditures in 2020	$ 37,000,000
Limit on capital expenditures in 2021	45,000,000
Limit on capital expenditures after 2021	$ 45,000,000
First Amended Credit Facility | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
First Amended Credit Facility | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
First Amended Credit Facility | Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
First Amended Credit Facility | Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
First Amended Credit Facility | Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
First Amended Credit Facility | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
First Amended Credit Facility | Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 75,000,000
First Amended Credit Facility | Revolving credit facility | Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.20%
First Amended Credit Facility | Revolving credit facility | Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.35%
Second Amended Credit Facility
Line of Credit Facility [Line Items]
Limit on capital expenditures in 2020										$ 12,000,000
Limit on capital expenditures in 2021										12,000,000
Limit on capital expenditures in 2021 liquidity-based performance basket, maximum										12,000,000
Limit on capital expenditures in 2022										34,000,000
Limit on capital expenditures in 2023										37,000,000
Limit on capital expenditures after 2023										$ 45,000,000
Second Amended Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate							3.25%
Second Amended Credit Facility | LIBOR | Minimum | Forecast
Line of Credit Facility [Line Items]
Basis spread on variable rate								2.00%
Second Amended Credit Facility | LIBOR | Maximum | Forecast
Line of Credit Facility [Line Items]
Basis spread on variable rate								3.00%

Long-Term Debt - Aggregate Matu

Long-Term Debt - Aggregate Maturities (Details) $ in Thousands	Mar. 29, 2022USD ($)
Aggregate Maturities for Debt Outstanding
Year 1	$ 1,813
Year 2	2,313
Year 3	31,169
Total	$ 35,295

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Income Tax Disclosure [Abstract]
Benefit from income taxes	$ (83)	$ (10)
Effective tax rate	1.30%	0.50%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Share-based Payment Arrangement [Abstract]
Shares awards available to be granted (in shares)	2.5
Stock-based compensation expense	$ 1,169	$ 802
Capitalized stock-based compensation expense	$ 20	$ 18

Restaurant Impairments, Closu_3

Restaurant Impairments, Closure Costs and Asset Disposals - Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Restaurant impairments	$ 106	$ 502
Closure costs	389	305
Loss on disposal of assets and other	894	424
Restaurant impairments, closure costs and asset disposals	$ 1,389	$ 1,231

Restaurant Impairments, Closu_4

Restaurant Impairments, Closure Costs and Asset Disposals - Narrative (Details) - restaurant	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Number of restaurants impaired	0	1
Number of restaurants closed	2	6

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Earnings Per Share [Abstract]
Net loss	$ (6,429)	$ (1,977)
Shares:
Basic weighted average shares outstanding (in shares)	45,726,500	45,098,028
Effect of dilutive securities (in shares)	0	0
Diluted weighted average shares outstanding (in shares)	45,726,500	45,098,028
Loss per share:
Basic earnings (loss) per share (USD per share)	$ (0.14)	$ (0.04)
Diluted earnings (loss) per share (USD per share)	$ (0.14)	$ (0.04)
Anti-dilutive securities
Antidilutive securities excluded from computation of earnings (loss) per share	1,018,962	769,732

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 29, 2022	Dec. 28, 2021
Assets
Operating lease assets, net	$ 186,493	$ 188,440
Finance lease assets, net	6,350	6,394
Total leased assets	$ 192,843	$ 194,834
Finance lease assets, line item [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Liabilities
Current operating lease liabilities	$ 27,149	$ 26,617
Current portion of finance lease liabilities	2,029	1,956
Long-term operating lease liabilities, net	196,922	200,243
Long-term finance lease liabilities	4,572	4,654
Total lease liabilities	$ 230,672	$ 233,470
Current finance lease liabilities, line item [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Long-term finance lease liabilities, line item [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 29, 2022USD ($)lease	Mar. 30, 2021USD ($)lease
Leases [Abstract]
Sublease income	$ 0.8	$ 0.5
Number of restaurant lease assets impaired | lease	0	1
Asset impairment charge for certain operating leases		$ 0.3

Leases - Supplemental Disclosur

Leases - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Leases [Abstract]
Cash paid for operating lease liabilities	$ 10,444	$ 11,666
Cash paid for finance lease liabilities	614	525
Cash paid for lease liabilities	11,058	12,191
Right-of-use assets obtained in exchange for operating lease liabilities	3,832	573
Right-of-use assets obtained in exchange for finance lease liabilities	722	651
Right-of-use assets obtained in exchange for lease liabilities	$ 4,554	$ 1,224

Supplemental Disclosures to C_3

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Interest paid (net of amounts capitalized)	$ 245	$ 709
Income taxes paid (refunded)	1	0
Purchases of property and equipment accrued in accounts payable	$ 5,820	$ 2,398

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2022	Mar. 30, 2021	Dec. 28, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected unredeemed percent	9.00%
Estimated redemption period	24 months
Gift card liability, current	$ 2,367		$ 2,850
Revenue recognized for redemption of gift cards	$ 1,000	$ 1,100
Period in which initial fees received from franchisees will be recognized as revenue	20 years
Loyalty program deferred revenue	$ 400		400
Accrued Expenses and Other Current Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Gift card liability, current	2,400		2,900
Other Long-term Liabilities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Gift card liability, non-current	$ 600		$ 600