Domino's Pizza (DPZ) 10-Q 21 Jul 22 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 19, 2022	Jul. 14, 2022
Cover [Abstract]
Document Type	10-Q
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0001286681
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Period End Date	Jun. 19, 2022
Entity Registrant Name	Domino’s Pizza, Inc.
Entity File Number	001-32242
Current Fiscal Year End Date	--01-01
Entity Tax Identification Number	38-2511577
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	30 Frank Lloyd Wright Drive
Entity Address, City or Town	Ann Arbor
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48105
City Area Code	734
Local Phone Number	930-3030
Trading Symbol	DPZ
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		35,885,105

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 19, 2022	Jan. 02, 2022	[1]
Current assets:
Cash and cash equivalents	$ 114,353	$ 148,160
Restricted cash and cash equivalents	158,215	180,579
Accounts receivable, net	274,957	255,327
Inventories	70,201	68,328
Prepaid expenses and other	45,645	27,242
Advertising fund assets, restricted	182,499	180,904
Total current assets	845,870	860,540
Property, plant and equipment:
Land and buildings	108,245	108,372
Leasehold and other improvements	195,834	193,572
Equipment	322,079	312,772
Construction in progress	27,161	27,815
Property, plant and equipment, Gross	653,319	642,531
Accumulated depreciation and amortization	(339,507)	(318,466)
Property, plant and equipment, net	313,812	324,065
Other assets:
Operating lease right-of-use assets	222,780	210,702
Goodwill	16,153	15,034
Capitalized software, net	103,137	95,558
Investments	125,840	125,840
Other assets	40,652	37,968
Deferred income taxes	2,386	2,109
Total other assets	510,948	487,211
Total assets	1,670,630	1,671,816
Current liabilities:
Current portion of long-term debt	55,654	55,588
Accounts payable	99,465	91,547
Operating lease liabilities	41,682	37,155
Insurance reserves	32,157	32,588
Dividends payable	40,624	918
Advertising fund liabilities	175,069	173,737
Other accrued liabilities	130,798	199,208
Total current liabilities	575,449	590,741
Long-term liabilities:
Long-term debt, less current portion	4,989,578	5,014,638
Operating lease liabilities	194,674	184,471
Insurance reserves	36,213	36,913
Other accrued liabilities	48,724	50,667
Deferred income taxes	6,301	3,922
Total long-term liabilities	5,275,490	5,290,611
Stockholders' deficit
Common stock	359	361
Additional paid-in capital	3,589	840
Retained deficit	(4,180,367)	(4,207,917)
Accumulated other comprehensive loss	(3,890)	(2,820)
Total stockholders' deficit	(4,180,309)	(4,209,536)
Total liabilities and stockholders' deficit	$ 1,670,630	$ 1,671,816
[1] The condensed consolidated balance sheet at January 2, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Revenues:
Revenue	$ 1,065,182	$ 1,032,472	$ 2,076,331	$ 2,016,170
Cost of sales:
Cost of sales	678,917	624,782	1,321,442	1,219,329
Operating margin	386,265	407,690	754,889	796,841
General and administrative	97,070	100,448	194,564	191,701
U.S. franchise advertising	111,081	116,340	217,670	227,700
Income from operations	178,114	190,902	342,655	377,440
Other Income	0	0	0	2,500
Interest income	219	68	268	90
Interest expense	(44,851)	(45,877)	(91,723)	(85,299)
Income before provision for income taxes	133,482	145,093	251,200	294,731
Provision for income taxes	30,989	28,474	57,743	60,351
Net income	$ 102,493	$ 116,619	$ 193,457	$ 234,380
Earnings per share:
Common stock - basic	$ 2.85	$ 3.10	$ 5.38	$ 6.14
Common stock - diluted	$ 2.82	$ 3.06	$ 5.32	$ 6.06
U.S. Stores [Member] | U.S. Company-owned stores [Member]
Revenues:
Revenue	$ 112,502	$ 116,589	$ 216,397	$ 229,333
Cost of sales:
Cost of sales	94,065	88,019	181,440	173,761
U.S. Stores [Member] | U.S. franchise stores [Member]
Revenues:
Revenue	128,098	126,836	250,383	251,322
U.S. Stores [Member] | U.S. franchise advertising [Member]
Revenues:
Revenue	111,081	116,340	217,670	227,700
Supply Chain [Member] | Supply Chain Center [Member]
Revenues:
Revenue	646,586	602,962	1,256,133	1,171,300
Cost of sales:
Cost of sales	584,852	536,763	1,140,002	1,045,568
International Franchise [Member] | International franchise royalties and fees [Member]
Revenues:
Revenue	$ 66,915	$ 69,745	$ 135,748	$ 136,515

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 102,493	$ 116,619	$ 193,457	$ 234,380
Currency translation adjustment	(1,684)	230	(1,070)	416
Comprehensive income	$ 100,809	$ 116,849	$ 192,387	$ 234,796

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Cash flows from operating activities:
Net income		$ 102,493	$ 116,619	$ 193,457	$ 234,380
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		18,117	17,176	37,093	33,641
Loss on sale/disposal of assets		253	295	448	456
Amortization of debt issuance costs				2,631	4,438
Provision for deferred income taxes				2,490	2,561
Non-cash equity-based compensation expense		8,473	8,296	15,738	13,500
Excess tax benefits from equity-based compensation				(174)	(4,264)
Provision for losses on accounts and notes receivable				2,326	296
Unrealized gain on investments				0	(2,500)
Changes in operating assets and liabilities				(102,935)	(17,098)
Changes in advertising fund assets and liabilities, restricted				2,341	30,005
Net cash provided by operating activities				153,415	295,415
Cash flows from investing activities:
Capital expenditures				(32,664)	(33,163)
Purchase of investments				0	(40,000)
Purchases of franchise operations and other assets				(6,814)	0
Other				(435)	293
Net cash used in investing activities				(39,913)	(72,870)
Cash flows from financing activities:
Proceeds from issuance of long-term debt				0	1,850,000
Repayments of long-term debt and finance lease obligations				(27,528)	(882,547)
Proceeds from exercise of stock options				526	9,025
Purchases of common stock				(97,661)	(1,025,000)
Tax payments for restricted stock upon vesting				(2,395)	(1,087)
Payments of common stock dividends and equivalents				(39,662)	(36,432)
Cash paid for financing costs				0	(14,938)
Other				0	(244)
Net cash used in financing activities				(166,720)	(101,223)
Effect of exchange rate changes on cash				(635)	302
Change in cash and cash equivalents, restricted cash and cash equivalents				(53,853)	121,624
Cash and cash equivalents, beginning of period	[1]			148,160
Restricted cash and cash equivalents, beginning of period	[1]			180,579
Cash and cash equivalents included in advertising fund assets, restricted, beginning of period				161,741	115,872
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, beginning of period				490,480	502,146
Cash and cash equivalents, end of period		114,353	292,095	114,353	292,095
Restricted cash and cash equivalents, end of period		158,215	184,695	158,215	184,695
Cash and cash equivalents included in advertising fund assets, restricted, end of period		164,059	146,980	164,059	146,980
Cash and cash equivalents, restricted cash and cash equivalents and cash and cash equivalents included in advertising fund assets, restricted, end of period		$ 436,627	$ 623,770	$ 436,627	$ 623,770
[1] The condensed consolidated balance sheet at January 2, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 19, 2022
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, refer to the consolidated financial statements and footnotes for the fiscal year ended January 2, 2022 included in the Company’s 2021 Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 1, 2022 (the “2021 Form 10-K”). In the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair statement have been included. Operating results for the fiscal quarter and two fiscal quarters ended June 19, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending January 1, 2023 .

Segment Information

Segment Information	6 Months Ended
	Jun. 19, 2022
Segment Reporting [Abstract]
Segment Information	2. Segment Information The following tables summarize revenues and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which the Company refers to as Segment Income, for each of its reportable segments. Intersegment revenues are comprised of sales of food, equipment and supplies from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based. The “Other” column as it relates to Segment Income below primarily includes corporate administrative costs that are not allocable to a reportable segment, including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs. Fiscal Quarters Ended June 19, 2022 and June 20, 2021 U.S. Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2022 $ 351,681 $ 683,298 $ 66,915 $ ( 36,712 ) $ — $ 1,065,182 2021 359,765 635,592 69,745 ( 32,630 ) — 1,032,472 Segment Income 2022 $ 104,055 $ 53,633 $ 52,890 N/A $ ( 5,621 ) $ 204,957 2021 111,847 58,593 56,365 N/A ( 9,627 ) 217,178 Two Fiscal Quarters Ended June 19, 2022 and June 20, 2021 U.S. Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2022 $ 684,450 $ 1,325,260 $ 135,748 $ ( 69,127 ) $ — $ 2,076,331 2021 708,355 1,234,769 136,515 ( 63,469 ) — 2,016,170 Segment Income 2022 $ 201,347 $ 99,982 $ 107,936 N/A $ ( 13,331 ) $ 395,934 2021 219,283 111,145 110,833 N/A ( 15,715 ) 425,546 The following table reconciles total Segment Income to consolidated income before provision for income taxes. Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Total Segment Income $ 204,957 $ 217,178 $ 395,934 $ 425,546 Depreciation and amortization ( 18,117 ) ( 17,176 ) ( 37,093 ) ( 33,641 ) Loss on sale/disposal of assets ( 253 ) ( 295 ) ( 448 ) ( 456 ) Non-cash equity-based compensation expense ( 8,473 ) ( 8,296 ) ( 15,738 ) ( 13,500 ) Recapitalization-related expenses — ( 509 ) — ( 509 ) Income from operations 178,114 190,902 342,655 377,440 Other income — — — 2,500 Interest income 219 68 268 90 Interest expense ( 44,851 ) ( 45,877 ) ( 91,723 ) ( 85,299 ) Income before provision for income taxes $ 133,482 $ 145,093 $ 251,200 $ 294,731

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 19, 2022
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Net income available to common stockholders - basic and diluted $ 102,493 $ 116,619 $ 193,457 $ 234,380 Basic weighted average number of shares 35,915,102 37,590,369 35,957,999 38,145,297 Earnings per share – basic $ 2.85 $ 3.10 $ 5.38 $ 6.14 Diluted weighted average number of shares 36,296,277 38,122,515 36,368,297 38,665,325 Earnings per share – diluted $ 2.82 $ 3.06 $ 5.32 $ 6.06 The denominators used in calculating diluted earnings per share for common stock for the fiscal quarters and two fiscal quarters each ended June 19, 2022 and June 20, 2021 do not include the following because the effect of including these shares would be anti-dilutive or because the performance condition for these awards had not yet been met: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Anti-dilutive shares underlying stock-based awards Stock options 120,540 84,955 120,540 92,689 Restricted stock awards and units 67,677 — 346 — Performance condition not met Restricted stock awards and units 42,710 64,110 42,710 64,110

Stockholders' Deficit

Stockholders' Deficit	6 Months Ended
	Jun. 19, 2022
Federal Home Loan Banks [Abstract]
Stockholders' Deficit	4. Stockholders’ Deficit The following table summarizes the changes in stockholders’ deficit for the second quarter of 2022. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at March 27, 2022 36,037,373 $ 360 $ 3,545 $ ( 4,200,341 ) $ ( 2,206 ) Net income — — — 102,493 — Dividends declared on common stock and equivalents 1.10 per share) — — — ( 39,603 ) — Issuance and cancellation of stock awards, net 13,866 — — — — Tax payments for restricted stock upon vesting ( 3,950 ) — ( 1,606 ) — — Purchases of common stock ( 148,248 ) ( 1 ) ( 7,083 ) ( 42,916 ) — Exercise of stock options 605 — 260 — — Non-cash equity-based compensation expense — — 8,473 — — Currency translation adjustment — — — — ( 1,684 ) Balance at June 19, 2022 35,899,646 $ 359 $ 3,589 $ ( 4,180,367 ) $ ( 3,890 ) The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2022. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at January 2, 2022 36,138,273 $ 361 $ 840 $ ( 4,207,917 ) $ ( 2,820 ) Net income — — — 193,457 — Dividends declared on common stock and equivalents 2.20 per share) — — — ( 79,368 ) — Issuance and cancellation of stock awards, net 14,206 — — — — Tax payments for restricted stock upon vesting ( 5,825 ) — ( 2,395 ) — — Purchases of common stock ( 249,058 ) ( 2 ) ( 11,120 ) ( 86,539 ) — Exercise of stock options 2,050 — 526 — — Non-cash equity-based compensation expense — — 15,738 — — Currency translation adjustment — — — — ( 1,070 ) Balance at June 19, 2022 35,899,646 $ 359 $ 3,589 $ ( 4,180,367 ) $ ( 3,890 ) Subsequent to the end of the second quarter of 2022 , on July 19, 2022 , the Company’s Board of Directors declared a $ 1.10 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2022 to be paid on September 30, 2022 . The following table summarizes the changes in stockholders’ deficit for the second quarter of 2021. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at March 28, 2021 38,818,197 $ 388 $ 6,612 $ ( 3,240,842 ) $ ( 2,238 ) Net income — — — 116,619 — Dividends declared on common stock and equivalents 0.94 per share) — — — ( 34,680 ) — Issuance and cancellation of stock awards, net 837 — — — — Tax payments for restricted stock upon vesting ( 110 ) — ( 43 ) — — Purchases of common stock ( 2,012,596 ) ( 20 ) ( 12,181 ) ( 987,799 ) — Exercise of stock options 47,243 1 5,331 — — Non-cash equity-based compensation expense — — 8,296 — — Other — — ( 244 ) — — Currency translation adjustment — — — — 230 Balance at June 20, 2021 36,853,571 $ 369 $ 7,771 $ ( 4,146,702 ) $ ( 2,008 ) The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2021. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at January 3, 2021 38,868,350 $ 389 $ 5,122 $ ( 3,303,492 ) $ ( 2,424 ) Net income — — — 234,380 — Dividends declared on common stock and equivalents 1.88 per share) — — — ( 71,155 ) — Issuance and cancellation of stock awards, net ( 1,918 ) — — — — Tax payments for restricted stock upon vesting ( 2,901 ) — ( 1,087 ) — — Purchases of common stock ( 2,078,466 ) ( 21 ) ( 18,544 ) ( 1,006,435 ) — Exercise of stock options 68,506 1 9,024 — — Non-cash equity-based compensation expense — — 13,500 — — Other — — ( 244 ) — — Currency translation adjustment — — — — 416 Balance at June 20, 2021 36,853,571 $ 369 $ 7,771 $ ( 4,146,702 ) $ ( 2,008 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 19, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Fair value measurements enable the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Fair Value of Cash Equivalents and Investments The fair values of the Company’s cash equivalents and investments in marketable securities are based on quoted prices in active markets for identical assets. The fair value of the Company’s Level 3 investment is not readily determinable. The fair value represents its cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairments. The following tables summarize the carrying amounts and fair values of certain assets at June 19, 2022 and January 2, 2022: At June 19, 2022 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 76,381 $ 76,381 $ — $ — Restricted cash equivalents 117,426 117,426 — — Investments in marketable securities 13,740 13,740 — — Advertising fund cash equivalents, restricted 150,752 150,752 — — Investments 125,840 — — 125,840 At January 2, 2022 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 87,384 $ 87,384 $ — $ — Restricted cash equivalents 115,185 115,185 — — Investments in marketable securities 15,433 15,433 — — Advertising fund cash equivalents, restricted 140,115 140,115 — — Investments 125,840 — — 125,840 The Company holds a non-controlling interest in DPC Dash Ltd, a privately-held business company limited by shares incorporated with limited liability under the laws of the British Virgin Islands (“DPC Dash”). Through its subsidiaries, DPC Dash serves as the Company’s master franchisee in China that owns and operates Domino’s Pizza stores in that market. The Company’s investment in DPC Dash’s senior ordinary shares, which are not in-substance common stock, represents an equity investment without a readily determinable fair value and is recorded at cost with adjustments for observable changes in prices resulting from orderly transactions for the identical or a similar investment of the same issuer or impairments. The Company did not record any adjustments to the carrying amount of $ 125.8 million in the second quarter or two fiscal quarters of 2022 . The following table summarizes the reconciliation of the carrying amount of the Company’s investment in DPC Dash from the opening balance at January 3, 2021 to the closing balance at June 20, 2021 as a result of the additional investment made in the first quarter of 2021. Two Fiscal Quarters Ended June 20, 2021 Carrying Amount Carrying Amount January 3, Unrealized June 20, 2021 Purchases Gain 2021 Investments $ 40,000 $ 40,000 $ 2,500 $ 82,500 F air Value of Debt The estimated fair values of the Company’s fixed rate notes are classified as Level 2 measurements, as the Company estimates the fair value amount by using available market information. The Company obtained quotes from two separate brokerage firms that are knowledgeable about the Company’s fixed rate notes and, at times, trade these notes. The Company also performed its own internal analysis based on the information gathered from public markets, including information on notes that are similar to those of the Company. However, considerable judgment is required to interpret market data to estimate fair value. Accordingly, the fair value estimates presented are not necessarily indicative of the amount that the Company or the debtholders could realize in a current market exchange. The use of different assumptions and/or estimation methodologies may have a material effect on the estimated fair values stated below. M anagement estimated the approximate fair values of the Company's 2015, 2017, 2018, 2019 and 2021 notes as follows: June 19, 2022 January 2, 2022 Principal Amount Fair Value Principal Amount Fair Value 2015 Ten-Year Notes $ 756,000 $ 737,856 $ 760,000 $ 777,480 2017 Ten-Year Notes 957,500 901,008 962,500 1,000,038 2018 7.5-Year Notes 410,125 395,361 412,250 420,907 2018 9.25-Year Notes 386,000 368,244 388,000 407,788 2019 Ten-Year Notes 659,813 589,872 663,188 693,031 2021 7.5-Year Notes 841,500 720,324 845,750 849,133 2021 Ten-Year Notes 990,000 832,590 995,000 1,017,885 The Company did not have any outstanding borrowings under its variable funding notes at June 19, 2022 or January 2, 2022 .

Revenue Disclosures

Revenue Disclosures	6 Months Ended
	Jun. 19, 2022
Revenue from Contract with Customer [Abstract]
Revenue Disclosures	6. Revenue Disclosures Contract Liabilities Contract liabilities primarily consist of deferred franchise fees and deferred development fees. Deferred franchise fees and deferred development fees of $ 5.5 million and $ 5.4 million were included in current other accrued liabilities as of June 19, 2022 and January 2, 2022 , respectively. Deferred franchise fees and deferred development fees of $ 23.8 million and $ 24.3 million were included in long-term other accrued liabilities as of June 19, 2022 and January 2, 2022, respectively. Changes in deferred franchise fees and deferred development fees for the two fiscal quarters of 2022 and the two fiscal quarters of 2021 were as follows: Two Fiscal Quarters Ended June 19, June 20, 2022 2021 Deferred franchise fees and deferred development fees at beginning of period $ 29,694 $ 19,090 Revenue recognized during the period ( 2,855 ) ( 2,691 ) New deferrals due to cash received and other 2,448 3,805 Deferred franchise fees and deferred development fees at end of period $ 29,287 $ 20,204 Advertising Fund Assets As of June 19, 2022, advertising fund assets, restricted of $ 182.5 million consisted of $ 164.1 million of cash and cash equivalents, $ 13.5 million of accounts receivable and $ 4.9 million of prepaid expenses. As of June 19, 2022, advertising fund cash and cash equivalents included $ 7.4 million of cash contributed from U.S. Company-owned stores that had not yet been expended. As of January 2, 2022 , advertising fund assets, restricted of $ 180.9 million consisted of $ 161.7 million of cash and cash equivalents, $ 14.5 million of accounts receivable and $ 4.7 million of prepaid expenses. As of January 2, 2022 , advertising fund cash and cash equivalents included $ 7.2 million of cash contributed from U.S. Company-owned stores that had not yet been expended.

Leases

Leases	6 Months Ended
	Jun. 19, 2022
Leases [Abstract]
Leases	Leases The Company leases certain retail store and supply chain center locations, supply chain vehicles, equipment and its corporate headquarters with expiration dates through 2041. The components of operating and finance lease cost for the second quarter and two fiscal quarters of 2022 and the second quarter and two fiscal quarters of 2021 were as follows: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Operating lease cost $ 10,789 $ 10,326 $ 21,064 $ 20,750 Finance lease cost: Amortization of right-of-use assets 1,195 1,003 2,403 1,922 Interest on lease liabilities 732 722 1,836 1,748 Total finance lease cost $ 1,927 $ 1,725 $ 4,239 $ 3,670 Rent expense totaled $ 19.0 million and $ 37.9 million in the second quarter and two fiscal quarters of 2022 , respectively. Rent expense totaled $ 17.9 million and $ 36.1 million in the second quarter and two fiscal quarters of 2021 , respectively. Rent expense includes operating lease cost, as well as expense for non-lease components including common area maintenance, real estate taxes and other costs for the Company’s real estate leases. Rent expense also includes the variable rate per mile driven and fixed maintenance charges for the Company’s supply chain center tractors and trailers and expense for short-term rentals. Rent expense for certain short-term supply chain center tractor and trailer rentals was $ 1.6 million and $ 3.8 million in the second quarter and two fiscal quarters of 2022 , respectively. Rent expense for short-term supply chain center tractor and trailer rentals was $ 2.0 million and $ 3.8 million in the second quarter and two fiscal quarters of 2021, respectively. Variable rent expense and rent expense for other short-term leases were immaterial in both the second quarter and two fiscal quarters of 2022 and 2021. Supplemental balance sheet information related to the Company’s finance leases as of June 19, 2022 and January 2, 2022 was as follows: June 19, January 2, 2022 2022 Land and buildings $ 86,839 $ 86,965 Accumulated depreciation and amortization ( 16,804 ) ( 14,423 ) Finance lease assets, net $ 70,035 $ 72,542 Current portion of long-term debt $ 4,154 $ 4,088 Long-term debt , less current portion 70,309 72,250 Total principal payable on finance leases $ 74,463 $ 76,338 As of June 19, 2022 and January 2, 2022, the weighted average remaining lease term and weighted average discount rate for the Company’s operating and finance leases were as follows: June 19, 2022 January 2, 2022 Operating Finance Operating Finance Leases Leases Leases Leases Weighted average remaining lease term 7 years 15 years 7 years 15 years Weighted average discount rate 3.6 % 5.8 % 3.5 % 5.8 % Supplemental cash flow information related to leases for the second quarter and two fiscal quarters of 2022 and the second quarter and two fiscal quarters of 2021 were as follows: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,858 $ 9,105 $ 18,495 $ 19,292 Operating cash flows from finance leases 732 722 1,836 1,748 Financing cash flows from finance leases 792 593 1,778 1,297 Right-of-use assets obtained in exchange for lease obligations: Operating leases 23,407 6,681 31,164 11,353 Finance leases — 5,261 — 5,660 Maturities of lease liabilities as of June 19, 2022 were as follows: Operating Finance Leases Leases 2022 $ 29,410 $ 4,722 2023 43,207 7,523 2024 42,579 8,100 2025 37,063 7,919 2026 34,410 8,615 Thereafter 79,923 77,842 Total future minimum rental commitments 266,592 114,721 Less – amounts representing interest ( 30,236 ) ( 40,258 ) Total lease liabilities $ 236,356 $ 74,463 As of June 19, 2022 , the Company had additional leases for one supply chain center, one storage warehouse facility and certain supply chain tractors and trailers that had not yet commenced with estimated future minimum rental commitments of approximately $ 61.1 million. These leases are expected to commence in 2022 and 2023 with lease terms of up to 16 years . These undiscounted amounts are not included in the table above. The Company has guaranteed lease payments related to certain franchisees’ and others' lease arrangements. The maximum amount of potential future payments under these guarantees was $ 7.9 million and $ 9.1 million as of June 19, 2022 and January 2, 2022 , respectively. The Company does not believe these arrangements have or are likely to have a material effect on its results of operations, financial condition, revenues, expenses or liquidity.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	6 Months Ended
	Jun. 19, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	8. Supplemental Disclosures of Cash Flow Information The Company had non-cash investing activities related to accruals for capital expenditures of $ 5.8 million at June 19, 2022 and $ 5.4 million at January 2, 2022 . The Company also had less than $ 0.1 million of non-cash investing activities related to lease incentives in the two fiscal quarters of both 2022 and 2021 .

Company-owned Store Transaction

Company-owned Store Transactions	6 Months Ended
	Jun. 19, 2022
Business Combinations [Abstract]
Company-owned Store Transactions	9. Company-owned Store Transactions During the first quarter of 2022, the Company purchased 23 U.S. franchised stores from certain of the Company ’ s existing U.S. franchisees for $ 6.8 million, which included $ 4.0 million of intangibles, $ 1.7 million of equipment and leasehold improvements and $ 1.1 million of goodwill.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 19, 2022
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	10. New Accounting Pronouncements Accounting Standards Not Yet Adopted The Company has considered all new accounting standards issued by the Financial Accounting Standards Board (“FASB”). The Company has not yet adopted the following standard. Accounting Standards Update (“ASU”) 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) , which provides temporary optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform. The Company’s variable funding notes bear interest at fluctuating interest rates based on LIBOR. However, the associated loan documents contemplate a transition from LIBOR to secured overnight financing rate (“SOFR”) in the event that LIBOR ceases to exist. ASU 2020-04 may currently be adopted and may be applied prospectively to contract modifications made on or before December 31, 2022. The Company does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 19, 2022
Segment Reporting [Abstract]
Financial Information by Operating Segment	The following tables summarize revenues and earnings before interest, taxes, depreciation, amortization and other, which is the measure by which the Company allocates resources to its segments and which the Company refers to as Segment Income, for each of its reportable segments. Intersegment revenues are comprised of sales of food, equipment and supplies from the supply chain segment to the Company-owned stores in the U.S. stores segment. Intersegment sales prices are market based. The “Other” column as it relates to Segment Income below primarily includes corporate administrative costs that are not allocable to a reportable segment, including labor, computer expenses, professional fees, travel and entertainment, rent, insurance and other corporate administrative costs. Fiscal Quarters Ended June 19, 2022 and June 20, 2021 U.S. Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2022 $ 351,681 $ 683,298 $ 66,915 $ ( 36,712 ) $ — $ 1,065,182 2021 359,765 635,592 69,745 ( 32,630 ) — 1,032,472 Segment Income 2022 $ 104,055 $ 53,633 $ 52,890 N/A $ ( 5,621 ) $ 204,957 2021 111,847 58,593 56,365 N/A ( 9,627 ) 217,178 Two Fiscal Quarters Ended June 19, 2022 and June 20, 2021 U.S. Supply International Intersegment Stores Chain Franchise Revenues Other Total Revenues 2022 $ 684,450 $ 1,325,260 $ 135,748 $ ( 69,127 ) $ — $ 2,076,331 2021 708,355 1,234,769 136,515 ( 63,469 ) — 2,016,170 Segment Income 2022 $ 201,347 $ 99,982 $ 107,936 N/A $ ( 13,331 ) $ 395,934 2021 219,283 111,145 110,833 N/A ( 15,715 ) 425,546
Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes	The following table reconciles total Segment Income to consolidated income before provision for income taxes. Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Total Segment Income $ 204,957 $ 217,178 $ 395,934 $ 425,546 Depreciation and amortization ( 18,117 ) ( 17,176 ) ( 37,093 ) ( 33,641 ) Loss on sale/disposal of assets ( 253 ) ( 295 ) ( 448 ) ( 456 ) Non-cash equity-based compensation expense ( 8,473 ) ( 8,296 ) ( 15,738 ) ( 13,500 ) Recapitalization-related expenses — ( 509 ) — ( 509 ) Income from operations 178,114 190,902 342,655 377,440 Other income — — — 2,500 Interest income 219 68 268 90 Interest expense ( 44,851 ) ( 45,877 ) ( 91,723 ) ( 85,299 ) Income before provision for income taxes $ 133,482 $ 145,093 $ 251,200 $ 294,731

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 19, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Net income available to common stockholders - basic and diluted $ 102,493 $ 116,619 $ 193,457 $ 234,380 Basic weighted average number of shares 35,915,102 37,590,369 35,957,999 38,145,297 Earnings per share – basic $ 2.85 $ 3.10 $ 5.38 $ 6.14 Diluted weighted average number of shares 36,296,277 38,122,515 36,368,297 38,665,325 Earnings per share – diluted $ 2.82 $ 3.06 $ 5.32 $ 6.06
Schedule of Denominators Used in Calculating Earning Per Common Share	The denominators used in calculating diluted earnings per share for common stock for the fiscal quarters and two fiscal quarters each ended June 19, 2022 and June 20, 2021 do not include the following because the effect of including these shares would be anti-dilutive or because the performance condition for these awards had not yet been met: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Anti-dilutive shares underlying stock-based awards Stock options 120,540 84,955 120,540 92,689 Restricted stock awards and units 67,677 — 346 — Performance condition not met Restricted stock awards and units 42,710 64,110 42,710 64,110

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	6 Months Ended
	Jun. 19, 2022
Federal Home Loan Banks [Abstract]
Changes in Stockholders' Deficit	The following table summarizes the changes in stockholders’ deficit for the second quarter of 2022. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at March 27, 2022 36,037,373 $ 360 $ 3,545 $ ( 4,200,341 ) $ ( 2,206 ) Net income — — — 102,493 — Dividends declared on common stock and equivalents 1.10 per share) — — — ( 39,603 ) — Issuance and cancellation of stock awards, net 13,866 — — — — Tax payments for restricted stock upon vesting ( 3,950 ) — ( 1,606 ) — — Purchases of common stock ( 148,248 ) ( 1 ) ( 7,083 ) ( 42,916 ) — Exercise of stock options 605 — 260 — — Non-cash equity-based compensation expense — — 8,473 — — Currency translation adjustment — — — — ( 1,684 ) Balance at June 19, 2022 35,899,646 $ 359 $ 3,589 $ ( 4,180,367 ) $ ( 3,890 ) The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2022. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at January 2, 2022 36,138,273 $ 361 $ 840 $ ( 4,207,917 ) $ ( 2,820 ) Net income — — — 193,457 — Dividends declared on common stock and equivalents 2.20 per share) — — — ( 79,368 ) — Issuance and cancellation of stock awards, net 14,206 — — — — Tax payments for restricted stock upon vesting ( 5,825 ) — ( 2,395 ) — — Purchases of common stock ( 249,058 ) ( 2 ) ( 11,120 ) ( 86,539 ) — Exercise of stock options 2,050 — 526 — — Non-cash equity-based compensation expense — — 15,738 — — Currency translation adjustment — — — — ( 1,070 ) Balance at June 19, 2022 35,899,646 $ 359 $ 3,589 $ ( 4,180,367 ) $ ( 3,890 ) The following table summarizes the changes in stockholders’ deficit for the second quarter of 2021. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at March 28, 2021 38,818,197 $ 388 $ 6,612 $ ( 3,240,842 ) $ ( 2,238 ) Net income — — — 116,619 — Dividends declared on common stock and equivalents 0.94 per share) — — — ( 34,680 ) — Issuance and cancellation of stock awards, net 837 — — — — Tax payments for restricted stock upon vesting ( 110 ) — ( 43 ) — — Purchases of common stock ( 2,012,596 ) ( 20 ) ( 12,181 ) ( 987,799 ) — Exercise of stock options 47,243 1 5,331 — — Non-cash equity-based compensation expense — — 8,296 — — Other — — ( 244 ) — — Currency translation adjustment — — — — 230 Balance at June 20, 2021 36,853,571 $ 369 $ 7,771 $ ( 4,146,702 ) $ ( 2,008 ) The following table summarizes the changes in stockholders’ deficit for the two fiscal quarters of 2021. Accumulated Additional Other Common Stock Paid-in Retained Comprehensive Shares Amount Capital Deficit Loss Balance at January 3, 2021 38,868,350 $ 389 $ 5,122 $ ( 3,303,492 ) $ ( 2,424 ) Net income — — — 234,380 — Dividends declared on common stock and equivalents 1.88 per share) — — — ( 71,155 ) — Issuance and cancellation of stock awards, net ( 1,918 ) — — — — Tax payments for restricted stock upon vesting ( 2,901 ) — ( 1,087 ) — — Purchases of common stock ( 2,078,466 ) ( 21 ) ( 18,544 ) ( 1,006,435 ) — Exercise of stock options 68,506 1 9,024 — — Non-cash equity-based compensation expense — — 13,500 — — Other — — ( 244 ) — — Currency translation adjustment — — — — 416 Balance at June 20, 2021 36,853,571 $ 369 $ 7,771 $ ( 4,146,702 ) $ ( 2,008 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 19, 2022
Fair Value Disclosures [Abstract]
Carrying Amounts and Fair Values of Certain Assets	The following tables summarize the carrying amounts and fair values of certain assets at June 19, 2022 and January 2, 2022: At June 19, 2022 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 76,381 $ 76,381 $ — $ — Restricted cash equivalents 117,426 117,426 — — Investments in marketable securities 13,740 13,740 — — Advertising fund cash equivalents, restricted 150,752 150,752 — — Investments 125,840 — — 125,840 At January 2, 2022 Fair Value Estimated Using Carrying Level 1 Level 2 Level 3 Amount Inputs Inputs Inputs Cash equivalents $ 87,384 $ 87,384 $ — $ — Restricted cash equivalents 115,185 115,185 — — Investments in marketable securities 15,433 15,433 — — Advertising fund cash equivalents, restricted 140,115 140,115 — — Investments 125,840 — — 125,840
Summary of reconciliation of the carrying amount of the Company's investment in DPC Dash	The following table summarizes the reconciliation of the carrying amount of the Company’s investment in DPC Dash from the opening balance at January 3, 2021 to the closing balance at June 20, 2021 as a result of the additional investment made in the first quarter of 2021. Two Fiscal Quarters Ended June 20, 2021 Carrying Amount Carrying Amount January 3, Unrealized June 20, 2021 Purchases Gain 2021 Investments $ 40,000 $ 40,000 $ 2,500 $ 82,500 F
Schedule of Estimated Fair Value	anagement estimated the approximate fair values of the Company's 2015, 2017, 2018, 2019 and 2021 notes as follows: June 19, 2022 January 2, 2022 Principal Amount Fair Value Principal Amount Fair Value 2015 Ten-Year Notes $ 756,000 $ 737,856 $ 760,000 $ 777,480 2017 Ten-Year Notes 957,500 901,008 962,500 1,000,038 2018 7.5-Year Notes 410,125 395,361 412,250 420,907 2018 9.25-Year Notes 386,000 368,244 388,000 407,788 2019 Ten-Year Notes 659,813 589,872 663,188 693,031 2021 7.5-Year Notes 841,500 720,324 845,750 849,133 2021 Ten-Year Notes 990,000 832,590 995,000 1,017,885

Revenue Disclosures (Tables)

Revenue Disclosures (Tables)	6 Months Ended
	Jun. 19, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities Consist of Deferred Franchise Fees and Deferred Development Fees	Changes in deferred franchise fees and deferred development fees for the two fiscal quarters of 2022 and the two fiscal quarters of 2021 were as follows: Two Fiscal Quarters Ended June 19, June 20, 2022 2021 Deferred franchise fees and deferred development fees at beginning of period $ 29,694 $ 19,090 Revenue recognized during the period ( 2,855 ) ( 2,691 ) New deferrals due to cash received and other 2,448 3,805 Deferred franchise fees and deferred development fees at end of period $ 29,287 $ 20,204

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 19, 2022
Leases [Abstract]
Components Of Operating And Finance Lease Cost	The components of operating and finance lease cost for the second quarter and two fiscal quarters of 2022 and the second quarter and two fiscal quarters of 2021 were as follows: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Operating lease cost $ 10,789 $ 10,326 $ 21,064 $ 20,750 Finance lease cost: Amortization of right-of-use assets 1,195 1,003 2,403 1,922 Interest on lease liabilities 732 722 1,836 1,748 Total finance lease cost $ 1,927 $ 1,725 $ 4,239 $ 3,670
Schedule of Supplemental Balance Sheet Information Related To Finance Leases	Supplemental balance sheet information related to the Company’s finance leases as of June 19, 2022 and January 2, 2022 was as follows: June 19, January 2, 2022 2022 Land and buildings $ 86,839 $ 86,965 Accumulated depreciation and amortization ( 16,804 ) ( 14,423 ) Finance lease assets, net $ 70,035 $ 72,542 Current portion of long-term debt $ 4,154 $ 4,088 Long-term debt , less current portion 70,309 72,250 Total principal payable on finance leases $ 74,463 $ 76,338 As of June 19, 2022 and January 2, 2022, the weighted average remaining lease term and weighted average discount rate for the Company’s operating and finance leases were as follows: June 19, 2022 January 2, 2022 Operating Finance Operating Finance Leases Leases Leases Leases Weighted average remaining lease term 7 years 15 years 7 years 15 years Weighted average discount rate 3.6 % 5.8 % 3.5 % 5.8 %
Schedule Of Supplemental Cash Flow Information Related To Leases	Supplemental cash flow information related to leases for the second quarter and two fiscal quarters of 2022 and the second quarter and two fiscal quarters of 2021 were as follows: Fiscal Quarter Ended Two Fiscal Quarters Ended June 19, June 20, June 19, June 20, 2022 2021 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,858 $ 9,105 $ 18,495 $ 19,292 Operating cash flows from finance leases 732 722 1,836 1,748 Financing cash flows from finance leases 792 593 1,778 1,297 Right-of-use assets obtained in exchange for lease obligations: Operating leases 23,407 6,681 31,164 11,353 Finance leases — 5,261 — 5,660
Schedule Of Maturities Of Operating And Finance Leases Liabilities	Maturities of lease liabilities as of June 19, 2022 were as follows: Operating Finance Leases Leases 2022 $ 29,410 $ 4,722 2023 43,207 7,523 2024 42,579 8,100 2025 37,063 7,919 2026 34,410 8,615 Thereafter 79,923 77,842 Total future minimum rental commitments 266,592 114,721 Less – amounts representing interest ( 30,236 ) ( 40,258 ) Total lease liabilities $ 236,356 $ 74,463

Financial Information by Operat

Financial Information by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Segment Reporting Information [Line Items]
Revenues	$ 1,065,182	$ 1,032,472	$ 2,076,331	$ 2,016,170
Segment Income	204,957	217,178	395,934	425,546
Operating Segments [Member] | U.S. Stores [Member]
Segment Reporting Information [Line Items]
Revenues	351,681	359,765	684,450	708,355
Segment Income	104,055	111,847	201,347	219,283
Operating Segments [Member] | Supply Chain [Member]
Segment Reporting Information [Line Items]
Revenues	683,298	635,592	1,325,260	1,234,769
Segment Income	53,633	58,593	99,982	111,145
Operating Segments [Member] | International Franchise [Member]
Segment Reporting Information [Line Items]
Revenues	66,915	69,745	135,748	136,515
Segment Income	52,890	56,365	107,936	110,833
Intersegment Revenues [Member]
Segment Reporting Information [Line Items]
Revenues	(36,712)	(32,630)	(69,127)	(63,469)
Segment Reconciling [Member]
Segment Reporting Information [Line Items]
Segment Income	$ (5,621)	$ (9,627)	$ (13,331)	$ (15,715)

Reconciliation of Total Segment

Reconciliation of Total Segment Income to Consolidated Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Segment Reconciliation [Abstract]
Total Segment Income	$ 204,957	$ 217,178	$ 395,934	$ 425,546
Depreciation and amortization	(18,117)	(17,176)	(37,093)	(33,641)
Loss on sale/disposal of assets	(253)	(295)	(448)	(456)
Non-cash equity-based compensation expense	(8,473)	(8,296)	(15,738)	(13,500)
Recapitalization-related expenses		(509)		(509)
Income from operations	178,114	190,902	342,655	377,440
Other Income	0	0	0	2,500
Interest income	219	68	268	90
Interest expense	(44,851)	(45,877)	(91,723)	(85,299)
Income before provision for income taxes	$ 133,482	$ 145,093	$ 251,200	$ 294,731

Earnings Per Share - Summary of

Earnings Per Share - Summary of Computation of Basic and Diluted Earning per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Earnings Per Share [Abstract]
Net income available to common stockholders - basic and diluted	$ 102,493	$ 116,619	$ 193,457	$ 234,380
Basic weighted average number of shares	35,915,102	37,590,369	35,957,999	38,145,297
Earnings per share – basic	$ 2.85	$ 3.10	$ 5.38	$ 6.14
Diluted weighted average number of shares	36,296,277	38,122,515	36,368,297	38,665,325
Earnings Per Share - Diluted	$ 2.82	$ 3.06	$ 5.32	$ 6.06

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Denominators Used in Calculating Earning Per Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded from Computation of Earnings Per Share	120,540	84,955	120,540	92,689
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive Securities Excluded from Computation of Earnings Per Share	67,677		346
Restricted Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of earnings per share, amount unvested	42,710	64,110	42,710	64,110

Stockholders' Deficit - Additio

Stockholders' Deficit - Additional Information (Detail) - $ / shares		3 Months Ended		6 Months Ended
	Jul. 19, 2022	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Dividends declared per share		$ 1.10	$ 0.94	$ 2.20	$ 1.88
Subsequent Event [Member]
Dividends declared per share	$ 1.10
Record date of dividend	Sep. 15, 2022
Dividend declared date	Jul. 19, 2022
Dividend payable date	Sep. 30, 2022

Stockholders' Deficit (Detail)

Stockholders' Deficit (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Stockholders' Deficit [Line Items]
Balance	[1]			$ (4,209,536)
Net income		$ 102,493	$ 116,619	193,457	$ 234,380
Balance		$ (4,180,309)		$ (4,180,309)
Common Stock [Member]
Stockholders' Deficit [Line Items]
Balance (in shares)		36,037,373	38,818,197	36,138,273	38,868,350
Balance		$ 360	$ 388	$ 361	$ 389
Issuance and cancellation of stock awards, net (in shares)		13,866	837	14,206	(1,918)
Tax payments for restricted stock upon vesting, (in shares)		(3,950)	(110)	(5,825)	(2,901)
Purchases of common stock, (in shares)		(148,248)	(2,012,596)	(249,058)	(2,078,466)
Purchases of common stock		$ (1)	$ (20)	$ (2)	$ (21)
Exercises of stock options, (in shares)		605	47,243	2,050	68,506
Exercises of stock options			$ 1		$ 1
Balance (in shares)		35,899,646	36,853,571	35,899,646	36,853,571
Balance		$ 359	$ 369	$ 359	$ 369
Additional Paid-in Capital [Member]
Stockholders' Deficit [Line Items]
Balance		3,545	6,612	840	5,122
Tax payments for restricted stock upon vesting		(1,606)	(43)	(2,395)	(1,087)
Purchases of common stock		(7,083)	(12,181)	(11,120)	(18,544)
Exercises of stock options		260	5,331	526	9,024
Non-cash equity-based compensation expense		8,473	8,296	15,738	13,500
Other			(244)		(244)
Balance		3,589	7,771	3,589	7,771
Retained Deficit [Member]
Stockholders' Deficit [Line Items]
Balance		(4,200,341)	(3,240,842)	(4,207,917)	(3,303,492)
Net income		102,493	116,619	193,457	234,380
Dividends declared on common stock and equivalents		(39,603)	(34,680)	(79,368)	(71,155)
Purchases of common stock		(42,916)	(987,799)	(86,539)	(1,006,435)
Balance		(4,180,367)	(4,146,702)	(4,180,367)	(4,146,702)
Accumulated Other Comprehensive Income (Loss) [Member]
Stockholders' Deficit [Line Items]
Balance		(2,206)	(2,238)	(2,820)	(2,424)
Currency translation adjustment		(1,684)	230	(1,070)	416
Balance		$ (3,890)	$ (2,008)	$ (3,890)	$ (2,008)
[1] The condensed consolidated balance sheet at January 2, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Stockholders' Deficit (Parenthe

Stockholders' Deficit (Parenthetical) (Detail) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Dividends declared per share	$ 1.10	$ 0.94	$ 2.20	$ 1.88

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Millions	Jun. 19, 2022 USD ($)
Dash Brands Ltd [Member]
Investments at carrying value	$ 125.8

Carrying Amounts and Fair Value

Carrying Amounts and Fair Values of Certain Assets (Detail) - USD ($) $ in Thousands	Jun. 19, 2022	Jan. 02, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	$ 76,381	$ 87,384
Restricted cash equivalents, carrying amount	117,426	115,185
Investments in marketable securities, carrying amount	13,740	15,433
Advertising fund cash equivalents, restricted, carrying amount	150,752	140,115
Investments	125,840	125,840
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents, carrying amount	76,381	87,384
Restricted cash equivalents, carrying amount	117,426	115,185
Investments in marketable securities, carrying amount	13,740	15,433
Advertising fund cash equivalents, restricted, carrying amount	150,752	140,115
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 125,840	$ 125,840

Summary of reconciliation of th

Summary of reconciliation of the carrying amount of the Company's investment in DPC Dash - (Detail) - DPC Dash [Member] $ in Thousands	6 Months Ended
	Jun. 20, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 40,000
Additional Purchase of Equity Securities Without Readily Determinable Fair Value Amount	40,000
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	2,500
Equity Securities without Readily Determinable Fair Value, Amount	$ 82,500

Schedule of Estimated Fair Valu

Schedule of Estimated Fair Value (Detail) - USD ($) $ in Thousands	Jun. 19, 2022	Jan. 02, 2022
2015 Ten-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 756,000	$ 760,000
Fair Value	737,856	777,480
2017 Ten-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	957,500	962,500
Fair Value	901,008	1,000,038
2018 7.5-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	410,125	412,250
Fair Value	395,361	420,907
2018 9.25-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	386,000	388,000
Fair Value	368,244	407,788
2019 Ten-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	659,813	663,188
Fair Value	589,872	693,031
2021 7.5-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	841,500	845,750
Fair Value	720,324	849,133
2021 Ten-Year Notes [Member]
Debt Instrument [Line Items]
Principal Amount	990,000	995,000
Fair Value	$ 832,590	$ 1,017,885

Revenue Disclosures - Additiona

Revenue Disclosures - Additional Information (Detail) - USD ($)	Jun. 19, 2022	Jan. 02, 2022
Contract liability, Current	$ 5,500	$ 5,400
Contract liability, Noncurrent	23,800,000	24,300,000
Advertising fund assets, restricted	182,499,000	180,904,000	[1]
U.S. Company-owned stores [Member] | Cash, cash equivalents and investments [Member]
Cash contributed from Company-owned stores	7,400,000
U S Stores [Member] | Domestic Franchise [Member] | Cash, cash equivalents and investments [Member]
Advertising fund assets, restricted	164,100,000	161,700,000
U S Stores [Member] | Domestic Franchise [Member] | Accounts receivable [Member]
Advertising fund assets, restricted	13,500	14,500,000
U S Stores [Member] | Domestic Franchise [Member] | Prepaid expenses [Member]
Advertising fund assets, restricted	$ 4,900,000	4,700,000
U S Stores [Member] | U.S. Company-owned stores [Member] | Cash, cash equivalents and investments [Member]
Cash contributed from Company-owned stores		$ 7,200,000
[1] The condensed consolidated balance sheet at January 2, 2022 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.

Revenue Disclosures - Schedule

Revenue Disclosures - Schedule of Contract Liabilities Consist of Deferred Franchise Fees and Deferred Development Fees (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021
Revenue from Contract with Customer [Abstract]
Deferred franchise fees and deferred development fees at beginning of period	$ 29,694	$ 19,090
Revenue recognized during the period	(2,855)	(2,691)
New deferrals due to cash received and other	2,448	3,805
Deferred franchise fees and deferred development fees at end of period	$ 29,287	$ 20,204

Components of Operating and Fin

Components of Operating and Finance Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Operating lease cost	$ 10,789	$ 10,326	$ 21,064	$ 20,750
Finance lease cost:
Amortization of right-of-use assets	1,195	1,003	2,403	1,922
Interest on lease liabilities	732	722	1,836	1,748
Total finance lease cost	$ 1,927	$ 1,725	$ 4,239	$ 3,670

Supplemental balance sheet info

Supplemental balance sheet information related to the Company's leases (Detail) - USD ($) $ in Thousands	Jun. 19, 2022	Jan. 02, 2022
Land and buildings	$ 86,839	$ 86,965
Accumulated depreciation and amortization	(16,804)	(14,423)
Finance lease assets, net	70,035	72,542
Current portion of long-term debt	$ 4,154	$ 4,088
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Current	Long-Term Debt and Lease Obligation, Current
Long-term debt, less current portion	$ 70,309	$ 72,250
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation	Long-Term Debt and Lease Obligation
Total principal payable on finance leases	$ 74,463	$ 76,338
Finance Lease, Weighted Average Remaining Lease Term	15 years	15 years
Finance Lease, Weighted Average Discount Rate, Percent	5.80%	5.80%
Operating Lease, Weighted Average Remaining Lease Term	7 years	7 years
Operating Lease, Weighted Average Discount Rate, Percent	3.60%	3.50%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 7,858	$ 9,105	$ 18,495	$ 19,292
Operating cash flows from finance leases	732	722	1,836	1,748
Financing cash flows from finance leases	792	593	1,778	1,297
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	23,407	6,681	31,164	11,353
Finance leases	$ 0	$ 5,261	$ 0	$ 5,660

Maturities of Lease Liabilities

Maturities of Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 19, 2022	Jan. 02, 2022
Leases [Abstract]
2022	$ 29,410
2023	43,207
2024	42,579
2025	37,063
2026	34,410
Thereafter	79,923
Total future minimum rental commitments	266,592
Less – amounts representing interest	(30,236)
Total lease liabilities	236,356
2022	4,722
2023	7,523
2024	8,100
2025	7,919
2026	8,615
Thereafter	77,842
Total future minimum rental commitments	114,721
Less – amounts representing interest	(40,258)
Total principal payable on finance leases	$ 74,463	$ 76,338

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jun. 19, 2022	Jun. 20, 2021	Jan. 02, 2022
Rent Expenses	$ 19	$ 17.9	$ 37.9	$ 36.1
Finance Lease	1.6	$ 2	3.8	$ 3.8
Lessee, operating lease, lease not yet commenced, future minimum rental commitments	61.1		61.1
Potential future payments	$ 7.9		$ 7.9		$ 9.1
Operating Lease [Member]
Lease Term	16 years		16 years

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 19, 2022	Jun. 20, 2021	Jan. 02, 2022
Schedule of Cash Flow, Supplemental [Line Items]
Capital expenditure accrual	$ 5.8		$ 5.4
Non cash investing activities lease incentives	$ 0.1	$ 0.1

Company-owned Store Transacti_2

Company-owned Store Transactions - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 19, 2022 USD ($) Store	Jun. 20, 2021 USD ($)
Business Acquisition [Line Items]
Payments for purchase of franchisees	$ 6,814	$ 0
US Franchisee [Member]
Business Acquisition [Line Items]
Number of stores purchased | Store	23
Payments for purchase of franchisees	$ 6,800
Value of intangibles purchased	4,000
Value of leasehold and other assets purchased	1,700
Value of goodwill purchased	$ 1,100