Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 25, 2016 | Feb. 28, 2017 | Jun. 26, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | Ruths Hospitality Group, Inc. | ||
Entity Central Index Key | 1,324,272 | ||
Trading Symbol | ruth | ||
Current Fiscal Year End Date | --12-25 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $ 526,216,672 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 25, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Common Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 31,801,598 | ||
Unvested Restricted Stock [Member] | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding (in shares) | 1,249,315 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 3,788 | $ 3,095 |
Accounts receivable, less allowance for doubtful accounts 2016 - $729; 2015 - $732 | 20,790 | 18,501 |
Inventory | 7,396 | 7,479 |
Assets held for sale | 250 | |
Prepaid expenses and other | 2,446 | 1,259 |
Total current assets | 34,420 | 30,584 |
103,041 | 87,984 | |
Goodwill | 24,293 | 24,293 |
Deferred income taxes | 9,924 | 19,309 |
Other assets | 699 | 1,216 |
Total assets | 207,472 | 198,597 |
Current liabilities: | ||
Accounts payable | 7,064 | 10,018 |
Accrued payroll | 14,902 | 17,064 |
Accrued expenses | 11,672 | 9,280 |
Deferred revenue | 38,155 | 35,202 |
Other current liabilities | 7,622 | 6,308 |
Total current liabilities | 79,415 | 77,872 |
Long-term debt | 25,000 | |
Deferred rent | 21,737 | 20,275 |
Other liabilities | 2,311 | 2,548 |
Total liabilities | 128,463 | 100,695 |
Commitments and contingencies (Note 11) | ||
Shareholders' equity: | ||
Common stock, par value $.01 per share; 100,000,000 shares authorized, 30,549,283 shares issued and outstanding at December 25, 2016, 33,145,687 shares issued and outstanding at December 27, 2015 | 305 | 331 |
Additional paid-in capital | 95,266 | 135,403 |
Accumulated deficit | (16,562) | (37,832) |
Treasury stock, at cost; 71,950 shares at December 25, 2016 and December 27, 2015 | ||
Total shareholders' equity | 79,009 | 97,902 |
Total liabilities and shareholders' equity | 207,472 | 198,597 |
Franchise Rights [Member] | ||
Current assets: | ||
Finite-lived intangible assets | 32,200 | 32,200 |
Other Intangible Assets [Member] | ||
Current assets: | ||
Finite-lived intangible assets | $ 2,895 | $ 3,011 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Allowance for doubtful accounts | $ 729 | $ 732 |
Property and equipment, accumulated depreciation | $ 132,817 | $ 125,362 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 30,549,283 | 33,145,687 |
Common stock, shares outstanding (in shares) | 30,549,283 | 33,145,687 |
Treasury stock, shares (in shares) | 71,950 | 71,950 |
Other Intangible Assets [Member] | ||
Finite-lived intangible assets, accumulated amortization | $ 1,179 | $ 1,090 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Revenues: | |||
Restaurant sales | $ 363,147 | $ 351,875 | $ 325,437 |
Franchise income | 17,301 | 16,661 | 15,763 |
Other operating income | 5,499 | 4,897 | 4,897 |
Total revenues | 385,947 | 373,433 | 346,097 |
Costs and expenses: | |||
Food and beverage costs | 107,075 | 108,101 | 103,259 |
Restaurant operating expenses | 172,999 | 165,847 | 156,242 |
Marketing and advertising | 11,406 | 10,925 | 10,076 |
General and administrative costs | 31,488 | 30,242 | 24,311 |
Depreciation and amortization expenses | 13,434 | 12,520 | 10,917 |
Pre-opening costs | 1,986 | 1,032 | 1,630 |
Total costs and expenses | 338,388 | 328,667 | 306,435 |
Operating income | 47,559 | 44,766 | 39,662 |
Other income (expense): | |||
Interest expense, net | (1,154) | (790) | (1,159) |
Other | 10 | 358 | 37 |
Income from continuing operations before income tax expense | 46,415 | 44,334 | 38,540 |
Income from continuing operations | 15,660 | 14,168 | 11,830 |
Income from continuing operations | 30,755 | 30,166 | 26,710 |
Discontinued operations: | |||
Loss from discontinued operations, net of income tax benefit: 2016-($186); 2015-($869); 2014-($7,472) | (290) | (162) | (10,255) |
Net income | $ 30,465 | $ 30,004 | $ 16,455 |
Basic earnings (loss) per common share: | |||
Continuing operations (in dollars per share) | $ 0.97 | $ 0.88 | $ 0.76 |
Discontinued operations (in dollars per share) | (0.01) | 0 | (0.29) |
Basic earnings (loss) per share (in dollars per share) | 0.96 | 0.88 | 0.47 |
Diluted earnings (loss) per common share: | |||
Continuing operations (in dollars per share) | 0.96 | 0.87 | 0.75 |
Discontinued operations (in dollars per share) | (0.01) | 0 | (0.29) |
Diluted earnings (loss) per share (in dollars per share) | $ 0.95 | $ 0.87 | $ 0.46 |
Shares used in computing earnings (loss) per common share: | |||
Basic (in shares) | 31,670,189 | 34,018,582 | 34,955,760 |
Diluted (in shares) | 32,108,965 | 34,434,407 | 35,415,483 |
Dividends declared per common share (in dollars per share) | $ 0.28 | $ 0.24 | $ 0.20 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income tax benefit | $ (186) | $ (869) | $ (7,472) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 29, 2013 | 34,990 | 72 | |||
Balance at Dec. 29, 2013 | $ 350 | $ 169,107 | $ (68,804) | $ 100,653 | |
Net income | 16,455 | 16,455 | |||
Cash dividends | (7,138) | (7,138) | |||
Repurchase of common stock (in shares) | (1,244) | ||||
Repurchase of common stock | $ (12) | (15,397) | (15,409) | ||
Shares issued under stock compensation plan net of shares withheld for tax effects (in shares) | 588 | ||||
Shares issued under stock compensation plan net of shares withheld for tax effects | $ 6 | (2,945) | (2,939) | ||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 1,868 | 1,868 | |||
Stock-based compensation | 2,821 | 2,821 | |||
Balance (in shares) at Dec. 28, 2014 | 34,334 | 72 | |||
Balance at Dec. 28, 2014 | $ 343 | 155,455 | (59,487) | 96,311 | |
Net income | 30,004 | 30,004 | |||
Cash dividends | (8,349) | (8,349) | |||
Repurchase of common stock (in shares) | (1,483) | ||||
Repurchase of common stock | $ (15) | (23,737) | (23,752) | ||
Shares issued under stock compensation plan net of shares withheld for tax effects (in shares) | 295 | ||||
Shares issued under stock compensation plan net of shares withheld for tax effects | $ 3 | (1,145) | (1,142) | ||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 743 | 743 | |||
Stock-based compensation | 4,087 | 4,087 | |||
Balance (in shares) at Dec. 27, 2015 | 33,146 | 72 | |||
Balance at Dec. 27, 2015 | $ 331 | 135,403 | (37,832) | 97,902 | |
Net income | 30,465 | 30,465 | |||
Cash dividends | (9,195) | (9,195) | |||
Repurchase of common stock (in shares) | (2,824) | ||||
Repurchase of common stock | $ (28) | (45,048) | (45,076) | ||
Shares issued under stock compensation plan net of shares withheld for tax effects (in shares) | 227 | ||||
Shares issued under stock compensation plan net of shares withheld for tax effects | $ 2 | (1,301) | (1,299) | ||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 378 | 378 | |||
Stock-based compensation | 5,834 | 5,834 | |||
Balance (in shares) at Dec. 25, 2016 | 30,549 | 72 | |||
Balance at Dec. 25, 2016 | $ 305 | $ 95,266 | $ (16,562) | $ 79,009 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 30,465 | $ 30,004 | $ 16,455 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 13,434 | 12,520 | 13,185 |
Deferred income taxes | 9,384 | 9,519 | 753 |
Non-cash interest expense | 421 | 421 | 421 |
(Gain) loss on impairment and asset disposals | (108) | 15,805 | |
Amortization of below market lease | 129 | ||
Stock-based compensation expense | 5,834 | 4,087 | 2,821 |
Changes in operating assets and liabilities: | |||
Accounts receivables | (2,259) | 1,957 | (7,049) |
Inventories | 83 | (273) | (151) |
Prepaid expenses and other | (1,187) | 32 | 1,193 |
Other assets | 96 | 92 | 200 |
Accounts payable and accrued expenses | (5,213) | (3,763) | (2,669) |
Deferred revenue | 2,953 | 650 | 2,717 |
Deferred rent | 1,463 | 285 | 50 |
Other liabilities | 928 | (944) | (512) |
Net cash provided by operating activities | 56,294 | 54,587 | 43,348 |
Cash flows from investing activities: | |||
Acquisition of property and equipment | (26,211) | (20,292) | (17,365) |
Acquisition of franchise restaurant, net of cash acquired | (2,800) | ||
Proceeds from sale of the Mitchell's Restaurants | 10,000 | ||
Proceeds from sale of property and equipment | 802 | 149 | |
Net cash used in investing activities | (25,409) | (10,292) | (20,016) |
Cash flows from financing activities: | |||
Principal repayments on long-term debt | (23,000) | (48,000) | (32,000) |
Principal borrowings on long-term debt | 48,000 | 35,000 | 26,000 |
Repurchase of common stock | (45,076) | (23,752) | (15,409) |
Cash dividend payments | (9,195) | (8,349) | (7,138) |
Excess tax benefits from stock compensation | 378 | 743 | 1,868 |
Tax payments from the vesting of restricted stock and option exercises | (1,518) | (1,393) | (3,121) |
Proceeds from exercise of stock options | 219 | 250 | 183 |
Net cash used in financing activities | (30,192) | (45,501) | (29,617) |
Net increase (decrease) in cash and cash equivalents | 693 | (1,206) | (6,285) |
Cash and cash equivalents at beginning of period | 3,095 | 4,301 | 10,586 |
Cash and cash equivalents at end of period | 3,788 | 3,095 | 4,301 |
Supplemental disclosures of cash flow information: | |||
Interest, net of capitalized interest | 729 | 428 | 709 |
Income taxes | 3,625 | 410 | 2,135 |
Noncash investing and financing activities: | |||
Excess accrual-based acquisition of property and equipment | $ 3,962 | $ 1,608 | $ 1,243 |
Note 1 - The Company, Organizat
Note 1 - The Company, Organization and Description of Business | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | (1) Ruth’s Hospitality Group, Inc. and its subsidiaries (the Company) operate Ruth’s Chris Steak House restaurants and sell franchise rights to Ruth’s Chris Steak House franchisees giving the franchisees the exclusive right to operate similar restaurants in a particular area designated in the franchise agreement. At December 25, 2016, 150 68 81 one 20 Two 2016, two 2016, 2016, 2016, one one As of December 28, 2014, eighteen three January 21, 2015, third 3, 4 5 The following table summarizes the changes in the number of Company-owned Ruth’s Chris Steak House restaurants and franchisee-owned restaurants during the thirteen fifty two December 25, 2016. 13 Weeks Ending 52 Weeks Ending December 25, 2016 December 25, 2016 Ruth's Chris Steak House Company Franchised Managed Total Company Franchised Managed Total Beginning of period 68 80 1 149 67 80 1 148 Acquired 0 0 0 0 0 0 0 0 Sold 0 0 0 0 0 0 0 0 New 0 1 0 1 2 2 0 4 Closed 0 0 0 0 1 1 0 2 End of period 68 81 1 150 68 81 1 150 % of total 45 % 54 % 1 % 100 % 45 % 54 % 1 % 100 % |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | (2) (a) Basis of Presentation The Company utilizes a 52 53 December. December 25, 2016 2016) December 27, 2015 2015) December 28, 2014 2014) 52 The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation. Most significantly, the results of the Mitchell’s Restaurants have been reclassified as a discontinued operation. (b) Recent Accounting Pronouncements In May 2014, 2014 09, 2014 09), December 15, 2017, first 2018. 2014 09, $3 $6 2014 09 $1.3 $1.4 $1.2 2016, 2015 2014, 2014 09 In July 2015, 2015 11, 330). December 15, 2016. 2015 11 In February 2016, 2016 02, 842). December 15, 2018, first 2019 9). 2016 02 1) 2) In March 2016, 2016 09, 718). December 15, 2016, first 2017. first 2017. $378 $743 $1.9 2016, 2015 2014, In August 2016 2016 15, 230). December 15, 2017. 2016 15 ( c ) Contingencies The Company recognizes liabilities for contingencies when there is an exposure that indicates it is both probable that an asset has been impaired or that a liability has been incurred and that the amount of impairment or loss can be reasonably estimated. (d) Cash Equivalents For purposes of the consolidated financial statements, the Company considers all highly liquid investments purchased with an original maturity of three $4.5 December 27, 2015 ( e ) Accounts Receivable Accounts receivable consists primarily of bank credit cards receivable, landlord contributions, franchise royalty payments receivable, receivables from gift card sales, banquet billings receivable and other miscellaneous receivables. (f) Allowance for Doubtful Accounts The Company performs a specific review of account balances and applies historical collection experience to the various aging categories of receivable balances in establishing an allowance. ( g ) Inventories Inventories consist of food, beverages and supplies and are stated at the lower of cost or market. Cost is determined using the first first ( h ) Property and Equipment, net Property and equipment are stated at cost. Expenditures for improvements and replacements are capitalized and maintenance and repairs are charged to expense. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on the straight-line basis over the shorter of the lease term or the estimated useful lives of the assets. The estimated useful lives for assets are as follows: Building and Building Improvements, 20 40 5 5 7 3 5 5 20 ( i ) Goodwill and Franchise Rights Goodwill acquired in a business combination that is determined to have an indefinite useful life is not amortized, but tested for impairment at least annually in accordance with the provisions of FASB ASC Topic 350, Franchise rights acquired prior to 2008 2008 2007 350. ( j ) Impairment or Disposal of Long-Lived Assets In accordance with FASB ASC Topic 360 10, 360 10), may We account for exit or disposal activities, including restaurant closures, in accordance with Topic 360 10. 420, ( k ) Deferred Financing Costs Deferred financing costs represent fees paid in connection with obtaining bank and other long-term financing. The Company paid no 2016, 2015 2014. $421 2016, 2015 2014 ( l ) Revenues Revenues are derived principally from food and beverage sales. The Company does not rely on any major customers as a source of revenue. Revenue from restaurant sales is recognized when food and beverage products are sold. Restaurant sales are presented net of sales taxes and discounts. Gratuities remitted by customers for the benefit of restaurant staff are not included in either revenues or operating expenses. Deferred revenue primarily represents the Company’s liability for gift cards that have been sold but not yet redeemed. When the gift cards are redeemed, the Company recognizes restaurant sales and reduces the deferred revenue liability. Company issued gift cards redeemed at franchisee-owned restaurants reduce the deferred revenue liability but do not result in Company restaurant sales. Gift card transactions involving franchisees are settled on a monthly basis through the Company’s third $2.6 $2.4 $2.6 2016, 2015 2014, (m) International Revenues The Company currently has 20 $2.9 $3.0 $3.2 2016, 2015 2014, ( n ) Rent Certain of the Company’s operating leases contain predetermined fixed escalations of the minimum rent during the term of the lease. For these leases, the Company recognizes the related rent expense on a straight-line basis over the life of the lease and records the difference between amounts charged to operations and amounts paid as deferred rent. Additionally, certain of the Company’s operating leases contain clauses that provide additional contingent rent based on a percentage of sales greater than certain specified target amounts. The Company recognizes contingent rent expense prior to the achievement of the specified target that triggers the contingent rent, provided achievement of that target is considered probable. ( o ) Marketing and Advertising Marketing and advertising expenses in the accompanying consolidated statements of income include advertising expenses of $6.6 $6.5 $6.1 2016, 2015 2014, ( p ) Insurance Liability The Company maintains various policies for workers’ compensation, employee health, general liability and property damage. Pursuant to those policies, the Company is responsible for losses up to certain limits. The Company records liabilities for the estimated exposure for aggregate losses below those limits. The recorded liabilities are based on estimates of the ultimate costs to be incurred to settle known claims and claims incurred but not reported as of the balance sheet date. The estimated liabilities are not discounted and are based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions. Independent actuaries are used to develop estimates of the workers’ compensation, general and employee health care liabilities. (q) Stock-Based Compensation The Company recognizes stock-based compensation in accordance with FASB ASC Topic 718, 718). 718. ( r ) Pre -Opening Costs Pre-opening costs incurred with the opening of new restaurants are expensed as incurred. These costs include rent expense, wages, benefits, travel and lodging for the training and opening management teams, and food, beverage and other restaurant operating expenses incurred prior to a restaurant opening for business. ( s ) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company applies the provisions of FASB ASC Topic 740, 740). 740 50% ( t ) Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net income by the diluted weighted average shares of common stock outstanding during each period. Potentially dilutive securities include shares of non-vested stock awards. Diluted earnings per share 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 antidilutive effect. Stock awards are excluded from the calculation of diluted earnings per share in the event they are antidilutive. ( u ) Restaurant Acquisition In February 2014, $2.8 |
Note 3 - Mitchell's Restaurants
Note 3 - Mitchell's Restaurants | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | (4) The Company accounts for its closed restaurants in accordance with the provisions of FASB ASC Topic 360, December 29, 2014, 2014 08, 2014 08 December 28, 2014 2014 08, 2016, 2015 2014, Fiscal Year 2016 2015 2014 Revenues Mitchell's Restaurants $ - $ 4,343 $ 73,974 Other Restaurants - (3 ) 3,386 Total revenues - 4,340 77,360 Costs and expenses Recurring costs and expenses Mitchell's Restaurants (351 ) 5,196 73,852 Other Restaurants 827 175 4,115 Impairment losses Mitchell's Restaurants - - 15,295 Other Restaurants - - - Loss on pending sale of Mitchell's Restaurants - - 1,825 Total costs and expenses 476 5,371 95,087 Loss before income taxes (476 ) (1,031 ) (17,727 ) Income tax benefit (186 ) (869 ) (7,472 ) Loss from discontinued operations, net of income taxes $ (290 ) $ (162 ) $ (10,255 ) Cash flows from discontinued operations are combined with the cash flows from continuing operations within each of the categories on our consolidated statements of cash flows. The income from the Mitchell’s Restaurants in 2016 $466 2016, 2015 2014 |
Mitchells Restaurants [Member] | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | (3) As of December 28, 2014, eighteen three During the third 2014, 360 third 2014, $15.3 $7.3 $8.0 September 28, 2014 In November 2014, $10 January 21, 2015. 21 $1.8 fourth 2014. No four Under the terms of the Agreement, Landry’s assumed the Mitchell’s Restaurants’ facility lease obligations and the Company reimbursed Landry’s for gift cards that were sold prior to the closing date and used at the Mitchell’s Restaurants during the eighteen The Company guaranteed Landry’s lease obligations aggregating $35.3 nine |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | (4) The Company accounts for its closed restaurants in accordance with the provisions of FASB ASC Topic 360, December 29, 2014, 2014 08, 2014 08 December 28, 2014 2014 08, 2016, 2015 2014, Fiscal Year 2016 2015 2014 Revenues Mitchell's Restaurants $ - $ 4,343 $ 73,974 Other Restaurants - (3 ) 3,386 Total revenues - 4,340 77,360 Costs and expenses Recurring costs and expenses Mitchell's Restaurants (351 ) 5,196 73,852 Other Restaurants 827 175 4,115 Impairment losses Mitchell's Restaurants - - 15,295 Other Restaurants - - - Loss on pending sale of Mitchell's Restaurants - - 1,825 Total costs and expenses 476 5,371 95,087 Loss before income taxes (476 ) (1,031 ) (17,727 ) Income tax benefit (186 ) (869 ) (7,472 ) Loss from discontinued operations, net of income taxes $ (290 ) $ (162 ) $ (10,255 ) Cash flows from discontinued operations are combined with the cash flows from continuing operations within each of the categories on our consolidated statements of cash flows. The income from the Mitchell’s Restaurants in 2016 $466 2016, 2015 2014 |
Mitchells Restaurants [Member] | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | (3) As of December 28, 2014, eighteen three During the third 2014, 360 third 2014, $15.3 $7.3 $8.0 September 28, 2014 In November 2014, $10 January 21, 2015. 21 $1.8 fourth 2014. No four Under the terms of the Agreement, Landry’s assumed the Mitchell’s Restaurants’ facility lease obligations and the Company reimbursed Landry’s for gift cards that were sold prior to the closing date and used at the Mitchell’s Restaurants during the eighteen The Company guaranteed Landry’s lease obligations aggregating $35.3 nine |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | (5) Fair value is defined under FASB ASC Topic 820, 820), 820 three The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three • Level 1—quoted • Level 2—quoted • Level 3—unobservable The following were used to estimate the fair value of each class of financial instruments: • The carrying amount of cash and cash equivalents, receivables, prepaid expenses, accounts payable and accrued expenses and other current liabilities are a reasonable estimate of their fair values due to their short duration. • Borrowings under the senior credit facility as of December 25, 2016 December 27, 2015 2). The Company did not 2016 2015. See Notes 6 7 |
Note 6 - Franchise Rights and G
Note 6 - Franchise Rights and Goodwill | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | (6) During the fourth fourth 2015, 48 th 2016 November 27, 2016. Franchise Rights In accordance with FASB ASC Topic 350, No 2016, 2015 2014. To determine the fair value of acquired franchise rights, the Company used a multi-period excess earnings approach. This approach involves projecting after-royalty future earnings, discounting those earnings using an appropriate market discount rate and subtracting a contributory charge for net working capital, property and equipment, assembled workforce and customer relationships to arrive at excess earnings attributable to these franchise rights. The Company calculated the present value of cash flows generated from future excess earnings and determined that the fair values exceeded the financial statement carrying value as of December 25, 2016. Goodwill No 2016, 2015 2014. In performing the fiscal year 2016 350 20, 1 November 27, 2016, If a reporting unit’s fair value did not exceed its carrying value as the balance sheet date, the Company would have completed Step 2 The financial statement carrying values of the Company’s franchise rights and goodwill were as follows (amounts in thousands): Franchise Rights Gross Goodwill Accumulated Goodwill Impairment Losses Net Carrying Value of Goodwill Balance as of December 27, 2015 $ 32,200 $ 34,851 $ (10,558 ) $ 24,293 Balance as of December 25, 2016 $ 32,200 $ 34,851 $ (10,558 ) $ 24,293 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment, Net | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | (7) Property and equipment consists of the following (amounts in thousands): December 25, December 27, 2016 2015 Land $ 616 $ 917 Building and building improvements 23,880 24,451 Equipment 36,741 33,931 Computer equipment 9,680 10,069 Furniture and fixtures 20,261 17,970 Leasehold improvements 130,345 117,364 Construction-in-progress 14,335 8,644 235,858 213,346 Less accumulated depreciation (132,817 ) (125,362 ) $ 103,041 $ 87,984 As discussed in Note (3), third 2014, $8.0 fourth 2014, $1.8 |
Note 8 - Long-term Debt
Note 8 - Long-term Debt | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | (8) Debt Long-term debt consists of the following (amounts in thousands): December 25, December 27, 2016 2015 Senior Credit Facility: Revolving credit facility $ 25,000 $ - Less current maturities - - $ 25,000 $ - As of December 25, 2016, $25.0 $70.9 $4.1 December 25, 2016, 2.7% 2.13%. 0.2%. On February 14, 2012, $100.0 February 14, 2017. 2.00% 2.75% 1.00% 1.75% February 2, 2017. On February 2, 2017, $90.0 $5.0 $5.0 may $150.0 February 2, 2022. may 0.50% one 1.00%, 1.50% 2.25% 0.50% 1.25% The Credit Agreement contains customary representations and affirmative and negative covenants (including limitations on indebtedness and liens) as well as financial covenants requiring a minimum fixed coverage charge ratio and limiting the Company’s consolidated leverage ratio. The Credit Agreement also contains events of default customary for credit facilities of this type (with customary grace periods, as applicable), including nonpayment of principal or interest when due; material incorrectness of representations and warranties when made; breach of covenants; bankruptcy and insolvency; unsatisfied ERISA obligations; unstayed material judgment beyond specified periods; default under other material indebtedness; and certain changes of control of the Company. If any event of default occurs and is not cured within the applicable grace period, or waived, the outstanding loans may may |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | (9) At December 25, 2016, December 25, 2016 December 27, 2015 $21.7 $20.3 $1.8 $1.9 The Company also leases certain restaurant-related equipment under non-cancellable operating lease agreements with third Future minimum annual rental commitments under operating leases as of December 25, 2016 Company Total 2017 $ 21,806 2018 20,755 2019 19,840 2020 17,982 2021 15,828 Thereafter 118,356 $ 214,567 Pursuant to the terms of the Agreement, upon closing of the sale of the Mitchell’s Restaurants, Landry’s assumed the lease obligations of the Mitchell’s Restaurants. However, the Company has guaranteed Landry’s lease obligations aggregating $35.3 nine $250 one Rental expense consists of the following and is included in restaurant operating expenses in the accompanying consolidated statements of income (in thousands): Fiscal Year 2016 2015 2014 Minimum rentals $ 20,300 $ 18,846 $ 17,647 Contingent rentals 2,659 2,877 2,558 $ 22,959 $ 21,723 $ 20,205 |
Note 10 - Franchise Operations
Note 10 - Franchise Operations | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Franchise Income [Text Block] | (10) The Company franchises Ruth’s Chris Steak House restaurants. The Company executes franchise agreements for each franchisee-owned restaurant, which sets out the terms of its arrangement with the franchisee. The franchise agreements typically require the franchisee to pay an initial, non-refundable fee and continuing fees based upon a percentage of sales. The Company collects ongoing royalties of 5% 1% 1% The Company executes an area development agreement with franchisees that gives each franchisee exclusive rights to develop a specific number of restaurants within a specified area. The Company receives a development fee at the time that an area development agreement is executed. The development fee is recognized as revenue as franchisee-owned restaurants are opened. The Company also executes separate, site-specific franchise agreements for each restaurant developed by a franchisee under an area development agreement. The Company charges a site-specific fee at the time the franchise agreement is executed. This fee is related to construction assistance and consulting regarding operating procedures and purchasing. These services are performed prior to the restaurant opening. The Company recognizes the site-specific franchise fee when the related restaurant opens. The Company currently has 81 20 Two 2016 February second October. Three 2015 May one November. During fiscal year 2014 three one February, one September one December. January 2016. February 2014, 2016 2015. Fiscal Year 2016 2015 2014 Franchise income: Income from existing franchise locations $ 17,001 $ 16,361 $ 15,598 Opening and development fee income 300 300 165 Total franchise income: $ 17,301 $ 16,661 $ 15,763 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | (11) The Company is subject to various claims, possible legal actions and other matters arising in the normal course of business. Management does not expect disposition of these other matters to have a material adverse effect on the financial position, results of operations or liquidity of the Company. The Company expenses legal fees as incurred. The legislation and regulations related to tax and unclaimed property matters are complex and subject to varying interpretations by both government authorities and taxpayers. The Company remits a variety of taxes and fees to various governmental authorities, including excise taxes, property taxes, sales and use taxes, and payroll taxes. The taxes and fees remitted by the Company are subject to review and audit by the applicable governmental authorities which could assert claims for additional assessments. Although management believes that the tax positions are reasonable and consequently there are no accrued liabilities for claims which may may may The Company is subject to unclaimed or abandoned property (escheat) laws which require the Company to turn over to certain state governmental authorities the property of others held by the Company that has been unclaimed for specified periods of time. The Company is subject to audit by individual U.S. states with regard to its escheatment practices. Prior to fiscal year 2014 2014, The Company sells a considerable number of gift cards, which are issued and administered by a third third third June 2013 $30 March 2014, August 2016, October 2016. May 2017. The Company currently buys a majority of its beef from two |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | (12) The holders of the Company’s common stock are entitled to one On November 17, 2014, $50 2016, 731,645 $11.7 $15.95 In April 2016, $60 November 2014, 2016, 2,092,677 $33.4 $15.97 December 25, 2016, $26.6 The Company repurchased 2,824,322, 1,483,085 1,244,065 2016, 2015 2014, The Company’s Board of Directors declared the following dividends during the periods presented (amounts in thousands, except per share amounts): Declaration Date Dividend per Share Record Date Total Amount Payment Date Fiscal Year 2014: February 21, 2014 $ 0.05 March 13, 2014 $ 1,798 March 27, 2014 April 22, 2014 $ 0.05 May 15, 2014 $ 1,798 May 29, 2014 July 23, 2014 $ 0.05 August 14, 2014 $ 1,778 August 28, 2014 October 29, 2014 $ 0.05 November 20, 2014 $ 1,764 December 4, 2014 Fiscal Year 2015: February 13, 2015 $ 0.06 February 26, 2015 $ 2,082 March 12, 2015 April 21, 2015 $ 0.06 May 14, 2015 $ 2,090 May 28, 2015 July 22, 2015 $ 0.06 August 13, 2015 $ 2,108 August 27, 2015 October 30, 2015 $ 0.06 November 19, 2015 $ 2,069 December 3, 2015 Fiscal Year 2016: February 12, 2016 $ 0.07 February 25, 2016 $ 2,350 March 10, 2016 April 28, 2016 $ 0.07 May 12, 2016 $ 2,338 May 26, 2016 July 29, 2016 $ 0.07 August 11, 2016 $ 2,282 August 25, 2016 October 28, 2016 $ 0.07 November 10, 2016 $ 2,226 November 23, 2016 Subsequent to the end of fiscal year 2016, $0.09 ($2.9 March 9, 2017. |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plan | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | (13) In 2000, 401(k) may may $318 $305 $307 2016, 2015 2014, |
Note 14 - Incentive Stock Optio
Note 14 - Incentive Stock Option Plans | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (14) As of December 25, 2016, 2005 In connection with the initial public offering, the Company adopted the Ruth’s Chris Steak House, Inc. 2005 2005 2.4 2005 2005 one five May 22, 2008, 2005 1.5 2005 October 26, 2012, 2005 2.0 2013 2005 1.4 December 25, 2016, 1.9 During fiscal year 2014, 275,794 2005 275,794 2014, 125,932 second one third three During fiscal year 2015, 893,662 2005 893,662 2015, 54,095 second 214,567 one third three 300,000 25% first 2017 2020 325,000 25% first 2018 2021. During fiscal year 2016, 376,423 2005 376,423 2016, 95,792 second 135,631 one third three 45,000 third 100,000 50% first 2018 2019. The Company recorded $5.8 $4.1 $2.8 2016, 2015 2014, $378 $743 $1.9 2016, 2015 2014, December 25, 2016, $8.3 A summary of the status of non-vested restricted stock as of December 25, 2016 2016 2016 Shares Weighted-Average Grant-Date Fair Value Per Share Non-vested shares at beginning of year 1,150,085 $ 14.93 Granted 376,423 16.74 Vested (278,005 ) 12.93 Forfeited (2,667 ) 11.67 Non-vested shares at end of year 1,245,836 $ 15.93 As of December 25, 2016, $13.5 1,245,836 3.27 2016, 2015 2014 $3.6 $2.8 $1.9 The following table summarizes stock option activity for fiscal year 2016: 2016 Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($000's) Outstanding at beginning of year 262,748 $ 13.88 Granted - - Exercised (38,534 ) 5.70 Forfeited (100,060 ) 18.75 Outstanding at end of year 124,154 $ 12.50 1.06 $ 799,024 Options exercisable at year end 124,154 $ 12.50 1.06 $ 799,024 As of December 25, 2016, 2016, 2015 2014 $444 $863 $6.3 During fiscal years 2016, 2015 2014, $219 $250 $183 2005 |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | (15) Total income tax expense (benefit) for fiscal years 2016, 2015 2014 2016 2015 2014 Income from continuing operations $ 15,660 $ 14,168 $ 11,830 Loss from discontinued operations (186 ) (869 ) (7,472 ) Total consolidated income tax expense $ 15,474 $ 13,299 $ 4,358 Income tax expense from continuing operations consists of the following: Current Deferred Total Year ended December 25, 2016 U.S. Federal $ 3,987 $ 8,165 $ 12,152 State 1,951 1,231 3,182 Foreign 326 - 326 $ 6,264 $ 9,396 $ 15,660 Year ended December 27, 2015 U.S. Federal $ 14,692 $ (3,445 ) $ 11,247 State 2,697 (120 ) 2,577 Foreign 344 - 344 $ 17,733 $ (3,565 ) $ 14,168 Year ended December 28, 2014 U.S. Federal $ 3,475 $ 6,447 $ 9,922 State 562 961 1,523 Foreign 385 - 385 $ 4,422 $ 7,408 $ 11,830 Income tax expense differs from amounts computed by applying the federal statutory income tax rate to income from continuing operations before income taxes as follows (in thousands): 2016 2015 2014 Income tax expense at statutory rates $ 16,245 $ 15,517 $ 13,489 Increase (decrease) in income taxes resulting from: State income taxes, net of federal benefit 2,193 1,787 1,609 Federal FICA tip credit net benefit (3,179 ) (3,124 ) (2,814 ) Other 401 (12 ) (454 ) $ 15,660 $ 14,168 $ 11,830 Effective tax rate 33.7 % 32.0 % 30.7 % The Company utilizes the federal FICA tip credit to reduce its periodic federal income tax expense. A restaurant company employer may 2016 2014. Income taxes applicable to discontinued operations are comprised of (a) taxes calculated at the composite federal and state statutory tax rate times the pre-tax loss plus (b) the FICA tip credit benefit attributable to the restaurant sales of the Mitchell’s Restaurants. A reconciliation of the U.S. statutory tax rate to the effective tax rate applicable to discontinued operations for fiscal years 2016, 2015 2014 2016 2015 2014 Income tax benefit at statutory rates $ (167 ) $ (361 ) $ (6,204 ) Increase (decrease) in income taxes resulting from: State income taxes at state statutory rate, net of federal impact (19 ) (411 ) (701 ) Other, primarily federal FICA tip credit net benefit - (97 ) (567 ) $ (186 ) $ (869 ) $ (7,472 ) Effective tax rate 39.0 % 84.3 % 42.2 % The tax effects of temporary differences that give rise to significant portions of the deferred tax assets are presented below (in thousands): 2016 2015 Deferred tax assets: Accounts payable and accrued expenses $ 8,699 $ 8,222 Deferred rent 8,953 8,655 Net state operating loss carryforwards 2,317 3,281 Tax credit carryforwards 1,889 9,339 Property and equipment 4,080 5,098 Other 199 209 Total gross deferred tax assets 26,137 34,804 Less valuation allowance (762 ) (979 ) Net deferred tax assets 25,375 33,825 Deferred tax liabilities: Intangible assets (15,451 ) (14,516 ) Total gross deferred tax liabilities (15,451 ) (14,516 ) Net deferred tax assets $ 9,924 $ 19,309 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment. Gross deferred assets were reduced by a valuation allowance of $762 $979 2016 2015, As of December 25, 2016, $59.8 $1.9 2036 . As of December 25, 2016, $579 $380 12 A reconciliation of the beginning and ending amount of unrecognized tax benefits follows (amounts in thousands): Unrecognized tax benefits balance at December 27, 2015 $ 607 Gross increases for tax positions of prior years 91 Reductions due to settlements with taxing authorities (108 ) Reductions to tax positions due to statute expiration (11 ) Unrecognized tax benefits balance at December 25, 2016 $ 579 The Company files consolidated and separate income tax returns in the United States Federal jurisdiction and many state jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal or state and local income tax examinations for fiscal years before 2012. |
Note 16 - Earnings Per Share
Note 16 - Earnings Per Share | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | (16) Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net income by the diluted weighted average shares of common stock outstanding during each period. Potentially dilutive securities include shares of non-vested stock awards. Diluted earnings per share 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 antidilutive effect. Stock awards are excluded from the calculation of diluted earnings per share in the event they are antidilutive. The following table sets forth the computation of basic earnings per common share (amounts in thousands, except share and per share data): Fiscal Year 2016 2015 2014 Income from continuing operations $ 30,755 $ 30,166 $ 26,710 Loss from discontinued operations, net of income taxes (290 ) (162 ) (10,255 ) Net income $ 30,465 $ 30,004 $ 16,455 Shares: Weighted average number of common shares outstanding - basic 31,670,189 34,018,582 34,955,760 Basic earnings per common share: Continuing operations $ 0.97 $ 0.88 $ 0.76 Discontinued operations (0.01 ) 0.00 (0.29 ) Basic earnings per common share $ 0.96 $ 0.88 $ 0.47 Diluted earnings (loss) per share for fiscal years 2016, 2015 2014 22,349 $19.04, 46,117 $18.84 153,613 $18.70, The following table sets forth the computation of diluted earnings per share (amounts in thousands, except share and per share data): Fiscal Year 2016 2015 2014 Income from continuing operations $ 30,755 $ 30,166 $ 26,710 Loss from discontinued operations, net of income taxes (290 ) (162 ) (10,255 ) Net income $ 30,465 $ 30,004 $ 16,455 Shares: Weighted average number of common shares outstanding - basic 31,670,189 34,018,582 34,955,760 Dilutive shares 438,776 415,825 459,723 Weighted-average number of common shares outstanding - diluted 32,108,965 34,434,407 35,415,483 Diluted earnings per common share: Continuing operations $ 0.96 $ 0.87 $ 0.75 Discontinued operations (0.01 ) 0.00 (0.29 ) Diluted earnings per common share $ 0.95 $ 0.87 $ 0.46 |
Note 17 - Segment Information
Note 17 - Segment Information | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | (17) The Company has two The Company-owned Ruth’s Chris Steak House restaurants, all of which are located in North America, operate within the full-service dining industry, providing similar products to similar customers. Revenues are derived principally from food and beverage sales. As of December 25, 2016, 68 one 81 two Fiscal Year 2016 2015 2014 (Dollar amounts in thousands) Revenues: Company-owned steakhouse restaurants $ 366,054 $ 354,398 $ 327,731 Franchise operations 17,301 16,661 15,763 Unallocated other revenue and revenue discounts 2,592 2,374 2,603 Total revenues $ 385,947 $ 373,433 $ 346,097 Segment profits: Company-owned steakhouse restaurants $ 85,980 $ 80,450 $ 68,230 Franchise operations 17,301 16,661 15,763 Total segment profit 103,281 97,111 83,993 Unallocated operating income 2,592 2,374 2,603 Marketing and advertising expenses (11,406 ) (10,925 ) (10,076 ) General and administrative costs (31,488 ) (30,242 ) (24,311 ) Depreciation and amortization expenses (13,434 ) (12,520 ) (10,917 ) Pre-opening costs (1,986 ) (1,032 ) (1,630 ) Interest expense, net (1,154 ) (790 ) (1,159 ) Other income (expense) 10 358 37 Income from continuing operations before income tax expense $ 46,415 $ 44,334 $ 38,540 Capital expenditures: Company-owned steakhouse restaurants $ 24,991 $ 18,934 $ 14,867 Corporate assets 1,220 1,133 1,097 Mitchell's Restaurants - 225 1,401 Total capital expenditures $ 26,211 $ 20,292 $ 17,365 December 25, 2016 December 27, 2015 December 28, 2014 (Dollar amounts in thousands) Total assets: Company-owned steakhouse restaurants $ 185,820 $ 168,766 $ 155,757 Franchise operations 2,707 2,444 2,151 Corporate assets - unallocated 9,021 7,828 16,711 Deferred income taxes - unallocated 9,924 19,309 28,829 Mitchell's Restaurants - 250 15,119 Total assets $ 207,472 $ 198,597 $ 218,567 |
Note 18 - Supplemental Consolid
Note 18 - Supplemental Consolidated Financial Statement Information | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Additional Financial Information Disclosure [Text Block] | (18) (a) Accounts Receivable, net Accounts receivable, net consists of the following (amounts in thousands): December 25, 2016 December 27, 2015 Bank credit card receivables $ 10,992 $ 11,417 Landlord contributions 704 396 Franchise fees 2,456 2,306 Trade 463 751 Insurance receivable 446 - Receivable from gift card issuances 4,743 2,935 Other 1,715 1,428 Allowance for doubtful accounts (729 ) (732 ) $ 20,790 $ 18,501 (b) Other Assets Other assets consist of the following (amounts in thousands): December 25, December 27, 2016 2015 Deposits $ 611 $ 702 Deferred financing costs, net 60 481 Other 28 33 $ 699 $ 1,216 |
Note 19 - Quarterly Financial D
Note 19 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 25, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | (19) Summarized unaudited quarterly financial data (amounts in thousands, except per share information): Quarter Ended March 27, 2016 June 26, 2016 September 25, 2016 December 25, 2016 Total Total revenues $ 101,890 $ 92,654 $ 83,774 $ 107,629 $ 385,947 Cost and expenses (85,456 ) (82,193 ) (78,173 ) (92,566 ) (338,388 ) Operating income 16,434 10,461 5,601 15,063 47,559 Interest expense, net (213 ) (253 ) (333 ) (355 ) (1,154 ) Other 7 144 (92 ) (50 ) 10 Income from continuing operations before income tax expense 16,228 10,352 5,176 14,658 46,415 Income tax expense 5,346 3,396 1,668 5,250 15,660 Income from continuing operations 10,882 6,956 3,508 9,408 30,755 Discontinued operations, net of income tax (120 ) (48 ) 75 (197 ) (290 ) Net income (loss) $ 10,762 $ 6,908 $ 3,583 $ 9,211 $ 30,465 Basic earnings per share: Continuing operations $ 0.33 $ 0.22 $ 0.11 $ 0.31 $ 0.97 Discontinued operations 0.00 0.00 0.00 (0.01 ) (0.01 ) Basic earnings per share $ 0.33 $ 0.22 $ 0.11 $ 0.30 $ 0.96 Diluted earnings per share: Continuing operations $ 0.33 $ 0.21 $ 0.11 $ 0.31 $ 0.96 Discontinued operations 0.00 0.00 0.00 (0.01 ) (0.01 ) Diluted earnings per share $ 0.33 $ 0.21 $ 0.11 $ 0.30 $ 0.95 Dividends declared per common share $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.28 Quarter Ended March 29, 2015 June 28, 2015 September 27, 2015 December 27, 2015 Total Total revenues $ 97,344 $ 91,049 $ 80,292 $ 104,747 $ 373,433 Cost and expenses (81,136 ) (79,645 ) (76,137 ) (91,750 ) (328,667 ) Operating income 16,208 11,404 4,155 12,997 44,766 Interest expense, net (226 ) (174 ) (188 ) (202 ) (790 ) Debt issuance costs written off 15 16 9 318 358 Income from continuing operations before income tax expense 15,997 11,246 3,976 13,113 44,334 Income tax expense 5,229 3,577 1,338 4,023 14,168 Income from continuing operations 10,768 7,669 2,638 9,090 30,166 Discontinued operations, net of income tax (357 ) (153 ) (73 ) 420 (162 ) Net income $ 10,411 $ 7,516 $ 2,565 $ 9,510 $ 30,004 Basic earnings per share: Continuing operations $ 0.31 $ 0.22 $ 0.08 $ 0.27 $ 0.88 Discontinued operations (0.01 ) 0.00 0.00 0.01 0.00 Basic earnings per share $ 0.30 $ 0.22 $ 0.08 $ 0.28 $ 0.88 Diluted earnings per share: Continuing operations $ 0.31 $ 0.22 $ 0.08 $ 0.27 $ 0.87 Discontinued operations (0.01 ) 0.00 0.00 0.01 0.00 Diluted earnings per share $ 0.30 $ 0.22 $ 0.08 $ 0.28 $ 0.87 Dividends declared per common share $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.24 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 25, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | (a) Basis of Presentation The Company utilizes a 52 53 December. December 25, 2016 2016) December 27, 2015 2015) December 28, 2014 2014) 52 The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year presentation. Most significantly, the results of the Mitchell’s Restaurants have been reclassified as a discontinued operation. |
New Accounting Pronouncements, Policy [Policy Text Block] | (b) Recent Accounting Pronouncements In May 2014, 2014 09, 2014 09), December 15, 2017, first 2018. 2014 09, $3 $6 2014 09 $1.3 $1.4 $1.2 2016, 2015 2014, 2014 09 In July 2015, 2015 11, 330). December 15, 2016. 2015 11 In February 2016, 2016 02, 842). December 15, 2018, first 2019 9). 2016 02 1) 2) In March 2016, 2016 09, 718). December 15, 2016, first 2017. first 2017. $378 $743 $1.9 2016, 2015 2014, In August 2016 2016 15, 230). December 15, 2017. 2016 15 |
Commitments and Contingencies, Policy [Policy Text Block] | ( c ) Contingencies The Company recognizes liabilities for contingencies when there is an exposure that indicates it is both probable that an asset has been impaired or that a liability has been incurred and that the amount of impairment or loss can be reasonably estimated. |
Cash and Cash Equivalents, Policy [Policy Text Block] | (d) Cash Equivalents For purposes of the consolidated financial statements, the Company considers all highly liquid investments purchased with an original maturity of three $4.5 December 27, 2015 |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ( e ) Accounts Receivable Accounts receivable consists primarily of bank credit cards receivable, landlord contributions, franchise royalty payments receivable, receivables from gift card sales, banquet billings receivable and other miscellaneous receivables. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | (f) Allowance for Doubtful Accounts The Company performs a specific review of account balances and applies historical collection experience to the various aging categories of receivable balances in establishing an allowance. |
Inventory, Policy [Policy Text Block] | ( g ) Inventories Inventories consist of food, beverages and supplies and are stated at the lower of cost or market. Cost is determined using the first first |
Property, Plant and Equipment, Policy [Policy Text Block] | ( h ) Property and Equipment, net Property and equipment are stated at cost. Expenditures for improvements and replacements are capitalized and maintenance and repairs are charged to expense. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on the straight-line basis over the shorter of the lease term or the estimated useful lives of the assets. The estimated useful lives for assets are as follows: Building and Building Improvements, 20 40 5 5 7 3 5 5 20 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | ( i ) Goodwill and Franchise Rights Goodwill acquired in a business combination that is determined to have an indefinite useful life is not amortized, but tested for impairment at least annually in accordance with the provisions of FASB ASC Topic 350, Franchise rights acquired prior to 2008 2008 2007 350. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ( j ) Impairment or Disposal of Long-Lived Assets In accordance with FASB ASC Topic 360 10, 360 10), may We account for exit or disposal activities, including restaurant closures, in accordance with Topic 360 10. 420, |
Deferred Charges, Policy [Policy Text Block] | ( k ) Deferred Financing Costs Deferred financing costs represent fees paid in connection with obtaining bank and other long-term financing. The Company paid no 2016, 2015 2014. $421 2016, 2015 2014 |
Revenue Recognition, Policy [Policy Text Block] | ( l ) Revenues Revenues are derived principally from food and beverage sales. The Company does not rely on any major customers as a source of revenue. Revenue from restaurant sales is recognized when food and beverage products are sold. Restaurant sales are presented net of sales taxes and discounts. Gratuities remitted by customers for the benefit of restaurant staff are not included in either revenues or operating expenses. Deferred revenue primarily represents the Company’s liability for gift cards that have been sold but not yet redeemed. When the gift cards are redeemed, the Company recognizes restaurant sales and reduces the deferred revenue liability. Company issued gift cards redeemed at franchisee-owned restaurants reduce the deferred revenue liability but do not result in Company restaurant sales. Gift card transactions involving franchisees are settled on a monthly basis through the Company’s third $2.6 $2.4 $2.6 2016, 2015 2014, |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | (m) International Revenues The Company currently has 20 $2.9 $3.0 $3.2 2016, 2015 2014, |
Lease, Policy [Policy Text Block] | ( n ) Rent Certain of the Company’s operating leases contain predetermined fixed escalations of the minimum rent during the term of the lease. For these leases, the Company recognizes the related rent expense on a straight-line basis over the life of the lease and records the difference between amounts charged to operations and amounts paid as deferred rent. Additionally, certain of the Company’s operating leases contain clauses that provide additional contingent rent based on a percentage of sales greater than certain specified target amounts. The Company recognizes contingent rent expense prior to the achievement of the specified target that triggers the contingent rent, provided achievement of that target is considered probable. |
Advertising Costs, Policy [Policy Text Block] | ( o ) Marketing and Advertising Marketing and advertising expenses in the accompanying consolidated statements of income include advertising expenses of $6.6 $6.5 $6.1 2016, 2015 2014, |
Self Insurance Reserve [Policy Text Block] | ( p ) Insurance Liability The Company maintains various policies for workers’ compensation, employee health, general liability and property damage. Pursuant to those policies, the Company is responsible for losses up to certain limits. The Company records liabilities for the estimated exposure for aggregate losses below those limits. The recorded liabilities are based on estimates of the ultimate costs to be incurred to settle known claims and claims incurred but not reported as of the balance sheet date. The estimated liabilities are not discounted and are based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions. Independent actuaries are used to develop estimates of the workers’ compensation, general and employee health care liabilities. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | (q) Stock-Based Compensation The Company recognizes stock-based compensation in accordance with FASB ASC Topic 718, 718). 718. |
Pre-opening Costs [Policy Text Block] | ( r ) Pre -Opening Costs Pre-opening costs incurred with the opening of new restaurants are expensed as incurred. These costs include rent expense, wages, benefits, travel and lodging for the training and opening management teams, and food, beverage and other restaurant operating expenses incurred prior to a restaurant opening for business. |
Income Tax, Policy [Policy Text Block] | ( s ) Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company applies the provisions of FASB ASC Topic 740, 740). 740 50% |
Earnings Per Share, Policy [Policy Text Block] | ( t ) Earnings Per Share Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net income by the diluted weighted average shares of common stock outstanding during each period. Potentially dilutive securities include shares of non-vested stock awards. Diluted earnings per share 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 antidilutive effect. Stock awards are excluded from the calculation of diluted earnings per share in the event they are antidilutive. |
Business Combinations Policy [Policy Text Block] | ( u ) Restaurant Acquisition In February 2014, $2.8 |
Note 1 - The Company, Organiz28
Note 1 - The Company, Organization and Description of Business (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Franchisor Disclosure [Table Text Block] | 13 Weeks Ending 52 Weeks Ending December 25, 2016 December 25, 2016 Ruth's Chris Steak House Company Franchised Managed Total Company Franchised Managed Total Beginning of period 68 80 1 149 67 80 1 148 Acquired 0 0 0 0 0 0 0 0 Sold 0 0 0 0 0 0 0 0 New 0 1 0 1 2 2 0 4 Closed 0 0 0 0 1 1 0 2 End of period 68 81 1 150 68 81 1 150 % of total 45 % 54 % 1 % 100 % 45 % 54 % 1 % 100 % |
Note 4 - Discontinued Operati29
Note 4 - Discontinued Operations (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Fiscal Year 2016 2015 2014 Revenues Mitchell's Restaurants $ - $ 4,343 $ 73,974 Other Restaurants - (3 ) 3,386 Total revenues - 4,340 77,360 Costs and expenses Recurring costs and expenses Mitchell's Restaurants (351 ) 5,196 73,852 Other Restaurants 827 175 4,115 Impairment losses Mitchell's Restaurants - - 15,295 Other Restaurants - - - Loss on pending sale of Mitchell's Restaurants - - 1,825 Total costs and expenses 476 5,371 95,087 Loss before income taxes (476 ) (1,031 ) (17,727 ) Income tax benefit (186 ) (869 ) (7,472 ) Loss from discontinued operations, net of income taxes $ (290 ) $ (162 ) $ (10,255 ) |
Note 6 - Franchise Rights and30
Note 6 - Franchise Rights and Goodwill (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Franchise Rights Gross Goodwill Accumulated Goodwill Impairment Losses Net Carrying Value of Goodwill Balance as of December 27, 2015 $ 32,200 $ 34,851 $ (10,558 ) $ 24,293 Balance as of December 25, 2016 $ 32,200 $ 34,851 $ (10,558 ) $ 24,293 |
Note 7 - Property and Equipme31
Note 7 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 25, December 27, 2016 2015 Land $ 616 $ 917 Building and building improvements 23,880 24,451 Equipment 36,741 33,931 Computer equipment 9,680 10,069 Furniture and fixtures 20,261 17,970 Leasehold improvements 130,345 117,364 Construction-in-progress 14,335 8,644 235,858 213,346 Less accumulated depreciation (132,817 ) (125,362 ) $ 103,041 $ 87,984 |
Note 8 - Long-term Debt (Tables
Note 8 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 25, December 27, 2016 2015 Senior Credit Facility: Revolving credit facility $ 25,000 $ - Less current maturities - - $ 25,000 $ - |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Company Total 2017 $ 21,806 2018 20,755 2019 19,840 2020 17,982 2021 15,828 Thereafter 118,356 $ 214,567 |
Schedule of Rent Expense [Table Text Block] | Fiscal Year 2016 2015 2014 Minimum rentals $ 20,300 $ 18,846 $ 17,647 Contingent rentals 2,659 2,877 2,558 $ 22,959 $ 21,723 $ 20,205 |
Note 10 - Franchise Operations
Note 10 - Franchise Operations (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Condensed Income Statement [Table Text Block] | Fiscal Year 2016 2015 2014 Franchise income: Income from existing franchise locations $ 17,001 $ 16,361 $ 15,598 Opening and development fee income 300 300 165 Total franchise income: $ 17,301 $ 16,661 $ 15,763 |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Dividends Payable [Table Text Block] | Declaration Date Dividend per Share Record Date Total Amount Payment Date Fiscal Year 2014: February 21, 2014 $ 0.05 March 13, 2014 $ 1,798 March 27, 2014 April 22, 2014 $ 0.05 May 15, 2014 $ 1,798 May 29, 2014 July 23, 2014 $ 0.05 August 14, 2014 $ 1,778 August 28, 2014 October 29, 2014 $ 0.05 November 20, 2014 $ 1,764 December 4, 2014 Fiscal Year 2015: February 13, 2015 $ 0.06 February 26, 2015 $ 2,082 March 12, 2015 April 21, 2015 $ 0.06 May 14, 2015 $ 2,090 May 28, 2015 July 22, 2015 $ 0.06 August 13, 2015 $ 2,108 August 27, 2015 October 30, 2015 $ 0.06 November 19, 2015 $ 2,069 December 3, 2015 Fiscal Year 2016: February 12, 2016 $ 0.07 February 25, 2016 $ 2,350 March 10, 2016 April 28, 2016 $ 0.07 May 12, 2016 $ 2,338 May 26, 2016 July 29, 2016 $ 0.07 August 11, 2016 $ 2,282 August 25, 2016 October 28, 2016 $ 0.07 November 10, 2016 $ 2,226 November 23, 2016 |
Note 14 - Incentive Stock Opt36
Note 14 - Incentive Stock Option Plans (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | 2016 Shares Weighted-Average Grant-Date Fair Value Per Share Non-vested shares at beginning of year 1,150,085 $ 14.93 Granted 376,423 16.74 Vested (278,005 ) 12.93 Forfeited (2,667 ) 11.67 Non-vested shares at end of year 1,245,836 $ 15.93 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2016 Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value ($000's) Outstanding at beginning of year 262,748 $ 13.88 Granted - - Exercised (38,534 ) 5.70 Forfeited (100,060 ) 18.75 Outstanding at end of year 124,154 $ 12.50 1.06 $ 799,024 Options exercisable at year end 124,154 $ 12.50 1.06 $ 799,024 |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Consolidated Income Tax Expense [Table Text Block] | 2016 2015 2014 Income from continuing operations $ 15,660 $ 14,168 $ 11,830 Loss from discontinued operations (186 ) (869 ) (7,472 ) Total consolidated income tax expense $ 15,474 $ 13,299 $ 4,358 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Current Deferred Total Year ended December 25, 2016 U.S. Federal $ 3,987 $ 8,165 $ 12,152 State 1,951 1,231 3,182 Foreign 326 - 326 $ 6,264 $ 9,396 $ 15,660 Year ended December 27, 2015 U.S. Federal $ 14,692 $ (3,445 ) $ 11,247 State 2,697 (120 ) 2,577 Foreign 344 - 344 $ 17,733 $ (3,565 ) $ 14,168 Year ended December 28, 2014 U.S. Federal $ 3,475 $ 6,447 $ 9,922 State 562 961 1,523 Foreign 385 - 385 $ 4,422 $ 7,408 $ 11,830 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 2014 Income tax expense at statutory rates $ 16,245 $ 15,517 $ 13,489 Increase (decrease) in income taxes resulting from: State income taxes, net of federal benefit 2,193 1,787 1,609 Federal FICA tip credit net benefit (3,179 ) (3,124 ) (2,814 ) Other 401 (12 ) (454 ) $ 15,660 $ 14,168 $ 11,830 Effective tax rate 33.7 % 32.0 % 30.7 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2016 2015 Deferred tax assets: Accounts payable and accrued expenses $ 8,699 $ 8,222 Deferred rent 8,953 8,655 Net state operating loss carryforwards 2,317 3,281 Tax credit carryforwards 1,889 9,339 Property and equipment 4,080 5,098 Other 199 209 Total gross deferred tax assets 26,137 34,804 Less valuation allowance (762 ) (979 ) Net deferred tax assets 25,375 33,825 Deferred tax liabilities: Intangible assets (15,451 ) (14,516 ) Total gross deferred tax liabilities (15,451 ) (14,516 ) Net deferred tax assets $ 9,924 $ 19,309 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Unrecognized tax benefits balance at December 27, 2015 $ 607 Gross increases for tax positions of prior years 91 Reductions due to settlements with taxing authorities (108 ) Reductions to tax positions due to statute expiration (11 ) Unrecognized tax benefits balance at December 25, 2016 $ 579 |
Discontinued Operations [Member] | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 2014 Income tax benefit at statutory rates $ (167 ) $ (361 ) $ (6,204 ) Increase (decrease) in income taxes resulting from: State income taxes at state statutory rate, net of federal impact (19 ) (411 ) (701 ) Other, primarily federal FICA tip credit net benefit - (97 ) (567 ) $ (186 ) $ (869 ) $ (7,472 ) Effective tax rate 39.0 % 84.3 % 42.2 % |
Note 16 - Earnings Per Share (T
Note 16 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Fiscal Year 2016 2015 2014 Income from continuing operations $ 30,755 $ 30,166 $ 26,710 Loss from discontinued operations, net of income taxes (290 ) (162 ) (10,255 ) Net income $ 30,465 $ 30,004 $ 16,455 Shares: Weighted average number of common shares outstanding - basic 31,670,189 34,018,582 34,955,760 Basic earnings per common share: Continuing operations $ 0.97 $ 0.88 $ 0.76 Discontinued operations (0.01 ) 0.00 (0.29 ) Basic earnings per common share $ 0.96 $ 0.88 $ 0.47 Fiscal Year 2016 2015 2014 Income from continuing operations $ 30,755 $ 30,166 $ 26,710 Loss from discontinued operations, net of income taxes (290 ) (162 ) (10,255 ) Net income $ 30,465 $ 30,004 $ 16,455 Shares: Weighted average number of common shares outstanding - basic 31,670,189 34,018,582 34,955,760 Dilutive shares 438,776 415,825 459,723 Weighted-average number of common shares outstanding - diluted 32,108,965 34,434,407 35,415,483 Diluted earnings per common share: Continuing operations $ 0.96 $ 0.87 $ 0.75 Discontinued operations (0.01 ) 0.00 (0.29 ) Diluted earnings per common share $ 0.95 $ 0.87 $ 0.46 |
Note 17 - Segment Information (
Note 17 - Segment Information (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Fiscal Year 2016 2015 2014 (Dollar amounts in thousands) Revenues: Company-owned steakhouse restaurants $ 366,054 $ 354,398 $ 327,731 Franchise operations 17,301 16,661 15,763 Unallocated other revenue and revenue discounts 2,592 2,374 2,603 Total revenues $ 385,947 $ 373,433 $ 346,097 Segment profits: Company-owned steakhouse restaurants $ 85,980 $ 80,450 $ 68,230 Franchise operations 17,301 16,661 15,763 Total segment profit 103,281 97,111 83,993 Unallocated operating income 2,592 2,374 2,603 Marketing and advertising expenses (11,406 ) (10,925 ) (10,076 ) General and administrative costs (31,488 ) (30,242 ) (24,311 ) Depreciation and amortization expenses (13,434 ) (12,520 ) (10,917 ) Pre-opening costs (1,986 ) (1,032 ) (1,630 ) Interest expense, net (1,154 ) (790 ) (1,159 ) Other income (expense) 10 358 37 Income from continuing operations before income tax expense $ 46,415 $ 44,334 $ 38,540 Capital expenditures: Company-owned steakhouse restaurants $ 24,991 $ 18,934 $ 14,867 Corporate assets 1,220 1,133 1,097 Mitchell's Restaurants - 225 1,401 Total capital expenditures $ 26,211 $ 20,292 $ 17,365 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | December 25, 2016 December 27, 2015 December 28, 2014 (Dollar amounts in thousands) Total assets: Company-owned steakhouse restaurants $ 185,820 $ 168,766 $ 155,757 Franchise operations 2,707 2,444 2,151 Corporate assets - unallocated 9,021 7,828 16,711 Deferred income taxes - unallocated 9,924 19,309 28,829 Mitchell's Restaurants - 250 15,119 Total assets $ 207,472 $ 198,597 $ 218,567 |
Note 18 - Supplemental Consol40
Note 18 - Supplemental Consolidated Financial Statement Information (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 25, 2016 December 27, 2015 Bank credit card receivables $ 10,992 $ 11,417 Landlord contributions 704 396 Franchise fees 2,456 2,306 Trade 463 751 Insurance receivable 446 - Receivable from gift card issuances 4,743 2,935 Other 1,715 1,428 Allowance for doubtful accounts (729 ) (732 ) $ 20,790 $ 18,501 |
Schedule of Other Assets [Table Text Block] | December 25, December 27, 2016 2015 Deposits $ 611 $ 702 Deferred financing costs, net 60 481 Other 28 33 $ 699 $ 1,216 |
Note 19 - Quarterly Financial41
Note 19 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 25, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Quarter Ended March 27, 2016 June 26, 2016 September 25, 2016 December 25, 2016 Total Total revenues $ 101,890 $ 92,654 $ 83,774 $ 107,629 $ 385,947 Cost and expenses (85,456 ) (82,193 ) (78,173 ) (92,566 ) (338,388 ) Operating income 16,434 10,461 5,601 15,063 47,559 Interest expense, net (213 ) (253 ) (333 ) (355 ) (1,154 ) Other 7 144 (92 ) (50 ) 10 Income from continuing operations before income tax expense 16,228 10,352 5,176 14,658 46,415 Income tax expense 5,346 3,396 1,668 5,250 15,660 Income from continuing operations 10,882 6,956 3,508 9,408 30,755 Discontinued operations, net of income tax (120 ) (48 ) 75 (197 ) (290 ) Net income (loss) $ 10,762 $ 6,908 $ 3,583 $ 9,211 $ 30,465 Basic earnings per share: Continuing operations $ 0.33 $ 0.22 $ 0.11 $ 0.31 $ 0.97 Discontinued operations 0.00 0.00 0.00 (0.01 ) (0.01 ) Basic earnings per share $ 0.33 $ 0.22 $ 0.11 $ 0.30 $ 0.96 Diluted earnings per share: Continuing operations $ 0.33 $ 0.21 $ 0.11 $ 0.31 $ 0.96 Discontinued operations 0.00 0.00 0.00 (0.01 ) (0.01 ) Diluted earnings per share $ 0.33 $ 0.21 $ 0.11 $ 0.30 $ 0.95 Dividends declared per common share $ 0.07 $ 0.07 $ 0.07 $ 0.07 $ 0.28 Quarter Ended March 29, 2015 June 28, 2015 September 27, 2015 December 27, 2015 Total Total revenues $ 97,344 $ 91,049 $ 80,292 $ 104,747 $ 373,433 Cost and expenses (81,136 ) (79,645 ) (76,137 ) (91,750 ) (328,667 ) Operating income 16,208 11,404 4,155 12,997 44,766 Interest expense, net (226 ) (174 ) (188 ) (202 ) (790 ) Debt issuance costs written off 15 16 9 318 358 Income from continuing operations before income tax expense 15,997 11,246 3,976 13,113 44,334 Income tax expense 5,229 3,577 1,338 4,023 14,168 Income from continuing operations 10,768 7,669 2,638 9,090 30,166 Discontinued operations, net of income tax (357 ) (153 ) (73 ) 420 (162 ) Net income $ 10,411 $ 7,516 $ 2,565 $ 9,510 $ 30,004 Basic earnings per share: Continuing operations $ 0.31 $ 0.22 $ 0.08 $ 0.27 $ 0.88 Discontinued operations (0.01 ) 0.00 0.00 0.01 0.00 Basic earnings per share $ 0.30 $ 0.22 $ 0.08 $ 0.28 $ 0.88 Diluted earnings per share: Continuing operations $ 0.31 $ 0.22 $ 0.08 $ 0.27 $ 0.87 Discontinued operations (0.01 ) 0.00 0.00 0.01 0.00 Diluted earnings per share $ 0.30 $ 0.22 $ 0.08 $ 0.28 $ 0.87 Dividends declared per common share $ 0.06 $ 0.06 $ 0.06 $ 0.06 $ 0.24 |
Note 1 - The Company, Organiz42
Note 1 - The Company, Organization and Description of Business (Details Textual) | Mar. 26, 2017 | Dec. 25, 2016 | Dec. 25, 2016 | Sep. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 |
Franchised Units [Member] | International [Member] | ||||||
Number of Restaurants | 20 | 20 | ||||
Ruths Chris Steak House [Member] | ||||||
Number of Restaurants | 150 | 150 | 149 | 148 | ||
Number of Restaurants Opened During Period | 1 | 4 | ||||
Ruths Chris Steak House [Member] | Entity Operated Units [Member] | ||||||
Number of Restaurants | 68 | 68 | 68 | 67 | ||
Number of Restaurants Opened During Period | 0 | 2 | ||||
Ruths Chris Steak House [Member] | Entity Operated Units [Member] | Albuquerque, NM and EI Paso, TX [Member] | ||||||
Number of Restaurants Opened During Period | 2 | |||||
Ruths Chris Steak House [Member] | Entity Operated Units [Member] | Waltham, MA [Member] | Subsequent Event [Member] | ||||||
Number of Restaurants Opened During Period | 1 | |||||
Ruths Chris Steak House [Member] | Entity Operated Units [Member] | Tulsa, OK [Member] | Subsequent Event [Member] | ||||||
Number of Restaurants Opened During Period | 1 | |||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | ||||||
Number of Restaurants | 81 | 81 | 80 | 80 | ||
Number of Restaurants Opened During Period | 1 | 2 | ||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | International [Member] | ||||||
Number of Restaurants | 20 | 20 | ||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Jakarta, Indonesia and Greenville, SC [Member] | ||||||
Number of Restaurants Opened During Period | 2 | |||||
Ruths Chris Steak House [Member] | Managed [Member] | ||||||
Number of Restaurants | 1 | 1 | ||||
Mitchells Fish Market [Member] | Company-owned Fish Market Restaurants [Member] | ||||||
Number of Restaurants | 18 | |||||
Camerons Mitchell Steak house [Member] | Company-owned Steakhouse Restaurants [Member] | ||||||
Number of Restaurants | 3 |
Note 1 - The Company, Organiz43
Note 1 - The Company, Organization and Description of Business - Summary of Restaurants (Details) - Ruths Chris Steak House [Member] | 3 Months Ended | 12 Months Ended |
Dec. 25, 2016 | Dec. 25, 2016 | |
Number of Restaurants | 149 | 148 |
Acquired | 0 | 0 |
Sold | 0 | 0 |
New | 1 | 4 |
Closed | 0 | 2 |
Number of Restaurants | 150 | 150 |
% of total | 100.00% | 100.00% |
Entity Operated Units [Member] | ||
Number of Restaurants | 68 | 67 |
Acquired | 0 | 0 |
Sold | 0 | 0 |
New | 0 | 2 |
Closed | 0 | 1 |
Number of Restaurants | 68 | 68 |
% of total | 45.00% | 45.00% |
Franchised Units [Member] | ||
Number of Restaurants | 80 | 80 |
Acquired | 0 | 0 |
Sold | 0 | 0 |
New | 1 | 2 |
Closed | 0 | 1 |
Number of Restaurants | 81 | 81 |
% of total | 54.00% | 54.00% |
Entity Managed Units [Member] | ||
Number of Restaurants | 1 | 1 |
Acquired | 0 | 0 |
Sold | 0 | 0 |
New | 0 | 0 |
Closed | 0 | 0 |
Number of Restaurants | 1 | 1 |
% of total | 1.00% | 1.00% |
Note 2 - Summary of Significa44
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Feb. 28, 2014USD ($) | Mar. 25, 2018USD ($) | Dec. 25, 2016USD ($) | Dec. 27, 2015USD ($) | Dec. 28, 2014USD ($) | Dec. 29, 2013USD ($) | |
Advertising Contributions from Franchisees | $ 1,300 | $ 1,400 | $ 1,200 | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 378 | 743 | 1,868 | |||
Cash and Cash Equivalents, at Carrying Value | 3,788 | 3,095 | 4,301 | $ 10,586 | ||
Payments of Financing Costs | 0 | 0 | 0 | |||
Amortization of Debt Issuance Costs | 421 | 421 | 421 | |||
Revenue Recognition, Gift Cards, Breakage | 2,600 | 2,400 | 2,600 | |||
Franchise Revenue | 17,301 | 16,661 | 15,763 | |||
Advertising Expense | 6,600 | 6,500 | 6,100 | |||
Payments to Acquire Businesses, Gross | 2,800 | |||||
Ruths Chris Steak House [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 2,800 | |||||
Franchised Units [Member] | International [Member] | ||||||
Number of Restaurants | 20 | |||||
Franchise Operations [Member] | International [Member] | ||||||
Franchise Revenue | $ 2,900 | 3,000 | $ 3,200 | |||
Equipment [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Accounts Payable and Accrued Payroll [Member] | Outstanding Checks [Member] | ||||||
Cash and Cash Equivalents, at Carrying Value | $ 4,500 | |||||
Minimum [Member] | Building and Building Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 20 years | |||||
Minimum [Member] | Furniture and Fixtures [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Minimum [Member] | Computer Equipment [Member] | ||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||
Minimum [Member] | Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Minimum [Member] | Accounting Standards Update 2014-09 [Member] | Scenario, Forecast [Member] | Increase in Deferred Revenue Liability [Member] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 3,000 | |||||
Maximum [Member] | Building and Building Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 40 years | |||||
Maximum [Member] | Furniture and Fixtures [Member] | ||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||
Maximum [Member] | Computer Equipment [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Maximum [Member] | Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 20 years | |||||
Maximum [Member] | Accounting Standards Update 2014-09 [Member] | Scenario, Forecast [Member] | Increase in Deferred Revenue Liability [Member] | ||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 6,000 |
Note 3 - Mitchell's Restauran45
Note 3 - Mitchell's Restaurants (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 25, 2016USD ($) | Sep. 25, 2016USD ($) | Jun. 26, 2016USD ($) | Mar. 27, 2016USD ($) | Dec. 27, 2015USD ($) | Sep. 27, 2015USD ($) | Jun. 28, 2015USD ($) | Mar. 29, 2015USD ($) | Dec. 28, 2014USD ($) | Sep. 28, 2014USD ($) | Dec. 25, 2016USD ($) | Dec. 27, 2015USD ($) | Dec. 28, 2014USD ($) | Jan. 21, 2015 | Nov. 30, 2014USD ($) | |
General and Administrative Expense | $ 31,488 | $ 30,242 | $ 24,311 | ||||||||||||
Lease Obligations Guaranteed | $ 35,300 | 35,300 | |||||||||||||
Interest Expense | $ 355 | $ 333 | $ 253 | $ 213 | $ 202 | $ 188 | $ 174 | $ 226 | 1,154 | 790 | 1,159 | ||||
Mitchells Restaurants [Member] | |||||||||||||||
Number of Restaurants | 21 | ||||||||||||||
Asset Impairment Charges | 15,295 | ||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 10,000 | ||||||||||||||
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation, Pending Sale, Before Income Tax | $ (1,825) | ||||||||||||||
General and Administrative Expense | 0 | ||||||||||||||
Interest Expense | $ 0 | ||||||||||||||
Mitchell's Fish Market and Cameron's Steakhouse [Member] | |||||||||||||||
Impairment of Long-Lived Assets to be Disposed of | $ 8,000 | ||||||||||||||
Mitchells Restaurants [Member] | |||||||||||||||
Asset Impairment Charges | 15,300 | ||||||||||||||
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation, Pending Sale, Before Income Tax | $ (1,800) | ||||||||||||||
Mitchells Restaurants [Member] | Trademarks [Member] | |||||||||||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 7,300 | ||||||||||||||
Mitchells Fish Market [Member] | Company-owned Fish Market Restaurants [Member] | |||||||||||||||
Number of Restaurants | 18 | 18 | |||||||||||||
Camerons Mitchell Steak house [Member] | Company-owned Steakhouse Restaurants [Member] | |||||||||||||||
Number of Restaurants | 3 | 3 |
Note 4 - Discontinued Operati46
Note 4 - Discontinued Operations (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 25, 2016USD ($) | |
Mitchells Restaurants [Member] | |
Increase (Decrease) in Gift Card Liability | $ (466) |
Note 4 - Discontinued Operati47
Note 4 - Discontinued Operations - Summary of Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Revenues | $ 4,340 | $ 77,360 | |||||||||
Recurring costs and expenses | 476 | 5,371 | 95,087 | ||||||||
Loss before income taxes | (476) | (1,031) | (17,727) | ||||||||
Income tax benefit | (186) | (869) | (7,472) | ||||||||
Discontinued operations, net of income tax | $ (197) | $ 75 | $ (48) | $ (120) | $ 420 | $ (73) | $ (153) | $ (357) | (290) | (162) | (10,255) |
Mitchells Restaurants [Member] | |||||||||||
Revenues | 4,343 | 73,974 | |||||||||
Recurring costs and expenses | (351) | 5,196 | 73,852 | ||||||||
Asset Impairment Charges | 15,295 | ||||||||||
Loss on pending sale of Mitchell's Restaurants | 1,825 | ||||||||||
Other Restaurants [Member] | |||||||||||
Revenues | (3) | 3,386 | |||||||||
Recurring costs and expenses | 827 | 175 | 4,115 | ||||||||
Asset Impairment Charges |
Note 5 - Fair Value Measureme48
Note 5 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Assets, Fair Value Disclosure, Nonrecurring | $ 0 | $ 0 |
Note 6 - Franchise Rights and49
Note 6 - Franchise Rights and Goodwill (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Franchise Rights [Member] | |||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | $ 0 | $ 0 |
Note 6 - Franchise Rights and50
Note 6 - Franchise Rights and Goodwill (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Franchise Rights | $ 32,200 | $ 32,200 |
Gross Goodwill | 34,851 | 34,851 |
Accumulated Goodwill Impairment Losses | (10,558) | (10,558) |
Net Carrying Value of Goodwill | $ 24,293 | $ 24,293 |
Note 7 - Property and Equipme51
Note 7 - Property and Equipment, Net (Details Textual) - Mitchells Restaurants [Member] - USD ($) $ in Millions | 3 Months Ended | |
Dec. 28, 2014 | Sep. 28, 2014 | |
Impairment of Long-Lived Assets Held-for-use | $ 8 | |
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation, Pending Sale, Before Income Tax | $ (1.8) |
Note 7 - Property and Equipme52
Note 7 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Property and equipment, gross | $ 235,858 | $ 213,346 |
Less accumulated depreciation | (132,817) | (125,362) |
103,041 | 87,984 | |
Land [Member] | ||
Property and equipment, gross | 616 | 917 |
Building and Building Improvements [Member] | ||
Property and equipment, gross | 23,880 | 24,451 |
Equipment [Member] | ||
Property and equipment, gross | 36,741 | 33,931 |
Computer Equipment [Member] | ||
Property and equipment, gross | 9,680 | 10,069 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 20,261 | 17,970 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 130,345 | 117,364 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 14,335 | $ 8,644 |
Note 8 - Long-term Debt (Detail
Note 8 - Long-term Debt (Details Textual) - USD ($) $ in Millions | Feb. 02, 2017 | Feb. 14, 2012 | Dec. 25, 2016 |
Long-term Debt, Weighted Average Interest Rate | 2.70% | ||
Senior Credit Facility [Member] | |||
Long-term Line of Credit | $ 25 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 70.9 | ||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.20% | ||
Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Amended And Restated Credit Agreement [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||
Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Amended And Restated Credit Agreement [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||
Senior Credit Facility [Member] | Base Rate [Member] | Minimum [Member] | Amended And Restated Credit Agreement [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||
Senior Credit Facility [Member] | Base Rate [Member] | Maximum [Member] | Amended And Restated Credit Agreement [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||
Letter of Credit [Member] | |||
Letters of Credit Outstanding, Amount | $ 4.1 | ||
Long-term Debt, Weighted Average Interest Rate | 2.13% | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 100 | ||
Letter of Credit [Member] | Credit Agreement [Member] | Wells Fargo Bank, National Association and Other Lenders [Member] | Subsequent Event [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5 | ||
Revolving Credit Facility [Member] | Credit Agreement [Member] | Wells Fargo Bank, National Association and Other Lenders [Member] | Subsequent Event [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 90 | ||
Line of Credit Facility, Maximum Borrowing Capacity upon Satisfaction of Certain Conditions | $ 150 | ||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread Added to Reference Rate to Compute Base Rate | 1.00% | ||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||
Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||
Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||
Revolving Credit Facility [Member] | Prime Rate [Member] | Credit Agreement [Member] | Subsequent Event [Member] | |||
Debt Instrument, Basis Spread Added to Reference Rate to Compute Base Rate | 0.50% | ||
Swingline Loans [Member] | Credit Agreement [Member] | Wells Fargo Bank, National Association and Other Lenders [Member] | Subsequent Event [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5 |
Note 8 - Long-term Debt - Summa
Note 8 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Revolving credit facility | $ 25,000 | |
Less current maturities | ||
$ 25,000 |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Deferred Rent Credit | $ 21,700 | $ 20,300 |
Deferred Rent Credit, Current | 1,800 | $ 1,900 |
Lease Obligations Guaranteed | 35,300 | |
One of the Leases [Member] | ||
Letters of Credit Outstanding, Amount | $ 250 |
Note 9 - Leases - Future Minimu
Note 9 - Leases - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 25, 2016USD ($) |
2,017 | $ 21,806 |
2,018 | 20,755 |
2,019 | 19,840 |
2,020 | 17,982 |
2,021 | 15,828 |
Thereafter | 118,356 |
$ 214,567 |
Note 9 - Leases - Summary of Re
Note 9 - Leases - Summary of Rent Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Minimum rentals | $ 20,300 | $ 18,846 | $ 17,647 |
Contingent rentals | 2,659 | 2,877 | 2,558 |
$ 22,959 | $ 21,723 | $ 20,205 |
Note 10 - Franchise Operation58
Note 10 - Franchise Operations (Details Textual) | Nov. 30, 2015 | Dec. 28, 2014 | Sep. 30, 2014 | Feb. 28, 2014 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | Sep. 25, 2016 |
Franchised Units [Member] | International [Member] | ||||||||
Number of Restaurants | 20 | |||||||
Ruths Chris Steak House [Member] | ||||||||
Royalty of Sales Percentage | 5.00% | |||||||
Advertising Fee Percentage | 1.00% | |||||||
Number of Restaurants | 150 | 148 | 149 | |||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | ||||||||
Number of Restaurants | 81 | 80 | 80 | |||||
Number of Franchise Restaurants Opened During Period | 3 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | International [Member] | ||||||||
Number of Restaurants | 20 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Jakarta, Indonesia and Greenville, SC [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 2 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Ann Arbor, MI, Charleston, SC and San Antonio, TX [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 3 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | San Antonio, TX [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 1 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Boise, ID [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 1 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Panama City, Panama [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 1 | |||||||
Ruths Chris Steak House [Member] | Franchised Units [Member] | Taipei, Taiwan [Member] | ||||||||
Number of Franchise Restaurants Opened During Period | 1 |
Note 10 - Franchise Operation59
Note 10 - Franchise Operations - Franchise Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income from existing franchise locations | $ 17,001 | $ 16,361 | $ 15,598 |
Opening and development fee income | 300 | 300 | 165 |
Total franchise income: | $ 17,301 | $ 16,661 | $ 15,763 |
Note 11 - Commitments and Con60
Note 11 - Commitments and Contingencies (Details Textual) | Dec. 25, 2016 |
Number of Suppliers | 2 |
Note 12 - Shareholders' Equit61
Note 12 - Shareholders' Equity (Details Textual) $ / shares in Units, $ in Millions | Mar. 07, 2017USD ($)$ / shares | Dec. 25, 2016USD ($)$ / shares | Sep. 25, 2016$ / shares | Jun. 26, 2016$ / shares | Mar. 27, 2016$ / shares | Dec. 27, 2015$ / shares | Sep. 27, 2015$ / shares | Jun. 28, 2015$ / shares | Mar. 29, 2015$ / shares | Dec. 25, 2016USD ($)$ / sharesshares | Dec. 27, 2015$ / sharesshares | Dec. 28, 2014$ / sharesshares | Apr. 30, 2016USD ($) | Nov. 17, 2014USD ($) |
Common Stock, Number of Voting Rights Per Share | 1 | |||||||||||||
Stock Repurchased and Retired During Period, Shares | shares | 2,824,322 | 1,483,085 | 1,244,065 | |||||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.28 | $ 0.24 | $ 0.20 | |||
Subsequent Event [Member] | ||||||||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.09 | |||||||||||||
Dividends Payable, Current | $ 2.9 | |||||||||||||
The 2014 Share Repurchase Plan [Member] | ||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 50 | |||||||||||||
Stock Repurchased and Retired During Period, Shares | shares | 731,645 | |||||||||||||
Stock Repurchased and Retired During Period, Value | $ 11.7 | |||||||||||||
Stock Repurchased and Retired During Period, Average Cost per Share | $ / shares | $ 15.95 | |||||||||||||
The 2016 Share Repurchase Plan [Member] | ||||||||||||||
Stock Repurchase Program, Authorized Amount | $ 60 | |||||||||||||
Stock Repurchased and Retired During Period, Shares | shares | 2,092,677 | |||||||||||||
Stock Repurchased and Retired During Period, Value | $ 33.4 | |||||||||||||
Stock Repurchased and Retired During Period, Average Cost per Share | $ / shares | $ 15.97 | |||||||||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 26.6 | $ 26.6 |
Note 12 - Shareholders' Equit62
Note 12 - Shareholders' Equity - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Dividend Declared 1 [Member] | |||
Dividend Per Share (in dollars per share) | $ 0.07 | $ 0.06 | $ 0.05 |
Record Date | Feb. 25, 2016 | Feb. 26, 2015 | Mar. 13, 2014 |
Total Amount | $ 2,350 | $ 2,082 | $ 1,798 |
Payment Date | Mar. 10, 2016 | Mar. 12, 2015 | Mar. 27, 2014 |
Dividends Declared 2 [Member] | |||
Dividend Per Share (in dollars per share) | $ 0.07 | $ 0.06 | $ 0.05 |
Record Date | May 12, 2016 | May 14, 2015 | May 15, 2014 |
Total Amount | $ 2,338 | $ 2,090 | $ 1,798 |
Payment Date | May 26, 2016 | May 28, 2015 | May 29, 2014 |
Dividends Declared 3 [Member] | |||
Dividend Per Share (in dollars per share) | $ 0.07 | $ 0.06 | $ 0.05 |
Record Date | Aug. 11, 2016 | Aug. 13, 2015 | Aug. 14, 2014 |
Total Amount | $ 2,282 | $ 2,108 | $ 1,778 |
Payment Date | Aug. 25, 2016 | Aug. 27, 2015 | Aug. 28, 2014 |
Dividends Declared 4 [Member] | |||
Dividend Per Share (in dollars per share) | $ 0.07 | $ 0.06 | $ 0.05 |
Record Date | Nov. 10, 2016 | Nov. 19, 2015 | Nov. 20, 2014 |
Total Amount | $ 2,226 | $ 2,069 | $ 1,764 |
Payment Date | Nov. 23, 2016 | Dec. 3, 2015 | Dec. 4, 2014 |
Note 13 - Employee Benefit Pl63
Note 13 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Defined Contribution Plan, Cost Recognized | $ 318 | $ 305 | $ 307 |
Note 14 - Incentive Stock Opt64
Note 14 - Incentive Stock Option Plans (Details Textual) - USD ($) $ in Thousands | May 22, 2008 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | Dec. 29, 2013 | Dec. 25, 2005 |
Allocated Share-based Compensation Expense | $ 5,800 | $ 4,100 | $ 2,800 | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 378 | 743 | 1,900 | |||
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net | 8,300 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 13,500 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 444 | 863 | 6,300 | |||
Proceeds from Stock Options Exercised | $ 219 | $ 250 | 183 | |||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,245,836 | 1,150,085 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 98 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 3,600 | $ 2,800 | $ 1,900 | |||
Long-term Equity Incentive Plan 2005 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,400,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,500,000 | 2,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issuable | 1,400,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,900,000 | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 376,423 | 893,662 | 275,794 | |||
Long-term Equity Incentive Plan 2005 [Member] | Second Anniversary [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 95,792 | 54,095 | 125,932 | |||
Long-term Equity Incentive Plan 2005 [Member] | After Grant Date [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 135,631 | 214,567 | ||||
Long-term Equity Incentive Plan 2005 [Member] | Between 2017 Anniversary Date and 2020 Anniversary Date [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 300,000 | |||||
Long-term Equity Incentive Plan 2005 [Member] | Between 2017 Anniversary Date and 2020 Anniversary Date [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Long-term Equity Incentive Plan 2005 [Member] | Between the 2018 Anniversary Date and the 2021 Anniversary Date [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 325,000 | |||||
Long-term Equity Incentive Plan 2005 [Member] | Between the 2018 Anniversary Date and the 2021 Anniversary Date [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Long-term Equity Incentive Plan 2005 [Member] | Third Anniversary [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 45,000 | |||||
Long-term Equity Incentive Plan 2005 [Member] | Between the 2018 Anniversary Date and the 2019 Anniversary Date [Member] | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||
Long-term Equity Incentive Plan 2005 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||
Long-term Equity Incentive Plan 2005 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years |
Note 14 - Incentive Stock Opt65
Note 14 - Incentive Stock Option Plans - Summary of Non-vested Restricted Stock (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 25, 2016$ / sharesshares | |
Non-vested, Shares (in shares) | shares | 1,150,085 |
Non-vested, Weighted average grant-date fair value per share (in dollars per share) | $ / shares | $ 14.93 |
Granted, Shares (in shares) | shares | 376,423 |
Granted, Weighted average grant-date fair value per share (in dollars per share) | $ / shares | $ 16.74 |
Vested, Shares (in shares) | shares | (278,005) |
Vested, Weighted average grant-date fair value per share (in dollars per share) | $ / shares | $ 12.93 |
Forfeited, Shares (in shares) | shares | (2,667) |
Forfeited, Weighted average grant-date fair value per share (in dollars per share) | $ / shares | $ 11.67 |
Non-vested, Shares (in shares) | shares | 1,245,836 |
Non-vested, Weighted average grant-date fair value per share (in dollars per share) | $ / shares | $ 15.93 |
Note 14 - Incentive Stock Opt66
Note 14 - Incentive Stock Option Plans - Summary of Stock Option Activity (Details) | 12 Months Ended |
Dec. 25, 2016USD ($)$ / sharesshares | |
Outstanding, Shares (in shares) | shares | 262,748 |
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 13.88 |
Granted, Shares (in shares) | shares | |
Granted, Weighted average exercise price (in dollars per share) | $ / shares | |
Exercised, Shares (in shares) | shares | (38,534) |
Exercised, Weighted average exercise price (in dollars per share) | $ / shares | $ 5.70 |
Forfeited, Shares (in shares) | shares | (100,060) |
Forfeited, Weighted average exercise price (in dollars per share) | $ / shares | $ 18.75 |
Outstanding, Shares (in shares) | shares | 124,154 |
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares | $ 12.50 |
Outstanding, Weighted remaining contractual term (Year) | 1 year 21 days |
Outstanding, Aggregate intrinsic value | $ | $ 799,024 |
Options exercisable, Shares (in shares) | shares | 124,154 |
Options exercisable, Weighted average exercise price (in dollars per share) | $ / shares | $ 12.50 |
Options exercisable, Weighted remaining contractual term (Year) | 1 year 21 days |
Options exercisable, Aggregate intrinsic value | $ | $ 799,024 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Deferred Tax Assets, Valuation Allowance | $ 762 | $ 979 |
Operating Loss Carryforwards | 59,800 | |
Tax Credit Carryforward, Amount | 1,900 | |
Unrecognized Tax Benefits | 579 | $ 607 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 380 |
Note 15 - Income Taxes - Income
Note 15 - Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income from continuing operations | $ 5,250 | $ 1,668 | $ 3,396 | $ 5,346 | $ 4,023 | $ 1,338 | $ 3,577 | $ 5,229 | $ 15,660 | $ 14,168 | $ 11,830 |
Income tax benefit | (186) | (869) | (7,472) | ||||||||
Total consolidated income tax expense | $ 15,474 | $ 13,299 | $ 4,358 |
Note 15 - Income Taxes - Inco69
Note 15 - Income Taxes - Income Tax Expense From Continuing Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
U.S. Federal, Current | $ 3,987 | $ 14,692 | $ 3,475 | ||||||||
U.S. Federal, Deferred | 8,165 | (3,445) | 6,447 | ||||||||
U.S. Federal, Total | 12,152 | 11,247 | 9,922 | ||||||||
State, Current | 1,951 | 2,697 | 562 | ||||||||
State, Deferred | 1,231 | (120) | 961 | ||||||||
State, Total | 3,182 | 2,577 | 1,523 | ||||||||
Foreign, Current | 326 | 344 | 385 | ||||||||
Foreign, Deferred | |||||||||||
Foreign, Total | 326 | 344 | 385 | ||||||||
Current | 6,264 | 17,733 | 4,422 | ||||||||
Deferred | 9,396 | (3,565) | 7,408 | ||||||||
$ 5,250 | $ 1,668 | $ 3,396 | $ 5,346 | $ 4,023 | $ 1,338 | $ 3,577 | $ 5,229 | 15,660 | 14,168 | 11,830 | |
Income from continuing operations | $ 5,250 | $ 1,668 | $ 3,396 | $ 5,346 | $ 4,023 | $ 1,338 | $ 3,577 | $ 5,229 | $ 15,660 | $ 14,168 | $ 11,830 |
Note 15 - Income Taxes - Reconc
Note 15 - Income Taxes - Reconciliation of the U.S. Statutory Rate to the Effective Rate (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income tax expense at statutory rates | $ 16,245 | $ 15,517 | $ 13,489 | ||||||||
State income taxes, net of federal benefit | 2,193 | 1,787 | 1,609 | ||||||||
Federal FICA tip credit net benefit | (3,179) | (3,124) | (2,814) | ||||||||
Other | 401 | (12) | (454) | ||||||||
$ 5,250 | $ 1,668 | $ 3,396 | $ 5,346 | $ 4,023 | $ 1,338 | $ 3,577 | $ 5,229 | $ 15,660 | $ 14,168 | $ 11,830 | |
Effective tax rate | 33.70% | 32.00% | 30.70% |
Note 15 - Income Taxes - Inco71
Note 15 - Income Taxes - Income Tax Reconciliation Applicable to Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income tax benefit at statutory rates | $ 16,245 | $ 15,517 | $ 13,489 | ||||||||
Increase (decrease) in income taxes resulting from: | |||||||||||
State income taxes at state statutory rate, net of federal impact | 2,193 | 1,787 | 1,609 | ||||||||
Other, primarily federal FICA tip credit net benefit | (3,179) | (3,124) | (2,814) | ||||||||
$ 5,250 | $ 1,668 | $ 3,396 | $ 5,346 | $ 4,023 | $ 1,338 | $ 3,577 | $ 5,229 | $ 15,660 | $ 14,168 | $ 11,830 | |
Effective tax rate | 33.70% | 32.00% | 30.70% | ||||||||
Discontinued Operations [Member] | |||||||||||
Income tax benefit at statutory rates | $ (167) | $ (361) | $ (6,204) | ||||||||
Increase (decrease) in income taxes resulting from: | |||||||||||
State income taxes at state statutory rate, net of federal impact | (19) | (411) | (701) | ||||||||
Other, primarily federal FICA tip credit net benefit | (97) | (567) | |||||||||
$ (186) | $ (869) | $ (7,472) | |||||||||
Effective tax rate | 39.00% | 84.30% | 42.20% |
Note 15 - Income Taxes - Deferr
Note 15 - Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Accounts payable and accrued expenses | $ 8,699 | $ 8,222 |
Deferred rent | 8,953 | 8,655 |
Net state operating loss carryforwards | 2,317 | 3,281 |
Tax credit carryforwards | 1,889 | 9,339 |
Property and equipment | 4,080 | 5,098 |
Other | 199 | 209 |
Total gross deferred tax assets | 26,137 | 34,804 |
Less valuation allowance | (762) | (979) |
Net deferred tax assets | 25,375 | 33,825 |
Intangible assets | (15,451) | (14,516) |
Total gross deferred tax liabilities | (15,451) | (14,516) |
Net deferred tax assets | $ 9,924 | $ 19,309 |
Note 15 - Income Taxes - Unreco
Note 15 - Income Taxes - Unrecognized Tax Benefit Reconciliation (Details) $ in Thousands | 12 Months Ended |
Dec. 25, 2016USD ($) | |
Unrecognized tax benefits balance | $ 607 |
Gross increases for tax positions of prior years | 91 |
Reductions due to settlements with taxing authorities | (108) |
Reductions to tax positions due to statute expiration | (11) |
Unrecognized tax benefits balance | $ 579 |
Note 16 - Earnings Per Share (D
Note 16 - Earnings Per Share (Details Textual) - $ / shares | 12 Months Ended | ||
Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 22,349 | 46,117 | 153,613 |
Weighted Average Exercise Prices Anti Dilutive Stock Options | $ 19.04 | $ 18.84 | $ 18.70 |
Note 16 - Earnings Per Share -
Note 16 - Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Income from continuing operations | $ 9,408 | $ 3,508 | $ 6,956 | $ 10,882 | $ 9,090 | $ 2,638 | $ 7,669 | $ 10,768 | $ 30,755 | $ 30,166 | $ 26,710 |
Discontinued operations, net of income tax | (197) | 75 | (48) | (120) | 420 | (73) | (153) | (357) | (290) | (162) | (10,255) |
Net income (loss) | $ 9,211 | $ 3,583 | $ 6,908 | $ 10,762 | $ 9,510 | $ 2,565 | $ 7,516 | $ 10,411 | $ 30,465 | $ 30,004 | $ 16,455 |
Basic (in shares) | 31,670,189 | 34,018,582 | 34,955,760 | ||||||||
Continuing operations (in dollars per share) | $ 0.31 | $ 0.11 | $ 0.22 | $ 0.33 | $ 0.27 | $ 0.08 | $ 0.22 | $ 0.31 | $ 0.97 | $ 0.88 | $ 0.76 |
Discontinued operations (in dollars per share) | (0.01) | 0 | 0 | 0 | 0.01 | 0 | 0 | (0.01) | (0.01) | 0 | (0.29) |
Basic earnings per share (in dollars per share) | 0.30 | 0.11 | 0.22 | 0.33 | 0.28 | 0.08 | 0.22 | 0.30 | $ 0.96 | $ 0.88 | $ 0.47 |
Shares used in computing earnings (loss) per common share: | |||||||||||
Basic (in shares) | 31,670,189 | 34,018,582 | 34,955,760 | ||||||||
Dilutive shares (in shares) | 438,776 | 415,825 | 459,723 | ||||||||
Diluted (in shares) | 32,108,965 | 34,434,407 | 35,415,483 | ||||||||
Diluted earnings (loss) per common share: | |||||||||||
Continuing operations (in dollars per share) | 0.31 | 0.11 | 0.21 | 0.33 | 0.27 | 0.08 | 0.22 | 0.31 | $ 0.96 | $ 0.87 | $ 0.75 |
Discontinued operations (in dollars per share) | (0.01) | 0 | 0 | 0 | 0.01 | 0 | 0 | (0.01) | (0.01) | 0 | (0.29) |
Diluted earnings per common share (in dollars per share) | $ 0.30 | $ 0.11 | $ 0.21 | $ 0.33 | $ 0.28 | $ 0.08 | $ 0.22 | $ 0.30 | $ 0.95 | $ 0.87 | $ 0.46 |
Note 17 - Segment Information76
Note 17 - Segment Information (Details Textual) | 12 Months Ended | ||
Dec. 25, 2016 | Sep. 25, 2016 | Dec. 27, 2015 | |
Number of Operating Segments | 2 | ||
Ruths Chris Steak House [Member] | |||
Number of Restaurants | 150 | 149 | 148 |
Entity Operated Units [Member] | Ruths Chris Steak House [Member] | |||
Number of Restaurants | 68 | 68 | 67 |
Entity Managed Units [Member] | Ruths Chris Steak House [Member] | |||
Number of Restaurants | 1 | 1 | 1 |
Franchised Units [Member] | Ruths Chris Steak House [Member] | |||
Number of Restaurants | 81 | 80 | 80 |
Note 17 - Segment Information -
Note 17 - Segment Information - Segment Information, Operating Profit (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Revenues: | |||||||||||
Total revenues | $ 107,629 | $ 83,774 | $ 92,654 | $ 101,890 | $ 104,747 | $ 80,292 | $ 91,049 | $ 97,344 | $ 385,947 | $ 373,433 | $ 346,097 |
Segment profits: | |||||||||||
Gross profit | 103,281 | 97,111 | 83,993 | ||||||||
Unallocated operating income | 2,592 | 2,374 | 2,603 | ||||||||
Marketing and advertising expenses | (11,406) | (10,925) | (10,076) | ||||||||
General and administrative costs | (31,488) | (30,242) | (24,311) | ||||||||
Depreciation and amortization expenses | (13,434) | (12,520) | (10,917) | ||||||||
Pre-opening costs | (1,986) | (1,032) | (1,630) | ||||||||
Interest expense, net | (355) | (333) | (253) | (213) | (202) | (188) | (174) | (226) | (1,154) | (790) | (1,159) |
Other | (50) | (92) | 144 | 7 | 10 | 358 | 37 | ||||
Income from continuing operations before income tax expense | $ 14,658 | $ 5,176 | $ 10,352 | $ 16,228 | $ 13,113 | $ 3,976 | $ 11,246 | $ 15,997 | 46,415 | 44,334 | 38,540 |
Capital expenditures: | |||||||||||
Capital expenditure | 26,211 | 20,292 | 17,365 | ||||||||
Mitchells Restaurants [Member] | |||||||||||
Capital expenditures: | |||||||||||
Capital expenditure | 225 | 1,401 | |||||||||
Operating Segments [Member] | Company-owned Steakhouse Restaurants [Member] | |||||||||||
Revenues: | |||||||||||
Total revenues | 366,054 | 354,398 | 327,731 | ||||||||
Segment profits: | |||||||||||
Gross profit | 85,980 | 80,450 | 68,230 | ||||||||
Capital expenditures: | |||||||||||
Capital expenditure | 24,991 | 18,934 | 14,867 | ||||||||
Operating Segments [Member] | Franchise Operations [Member] | |||||||||||
Revenues: | |||||||||||
Total revenues | 17,301 | 16,661 | 15,763 | ||||||||
Segment profits: | |||||||||||
Gross profit | 17,301 | 16,661 | 15,763 | ||||||||
Segment Reconciling Items [Member] | |||||||||||
Revenues: | |||||||||||
Total revenues | 2,592 | 2,374 | 2,603 | ||||||||
Corporate, Non-Segment [Member] | |||||||||||
Capital expenditures: | |||||||||||
Capital expenditure | $ 1,220 | $ 1,133 | $ 1,097 |
Note 17 - Segment Information78
Note 17 - Segment Information - Segment Information, Assets (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 |
Assets | $ 207,472 | $ 198,597 | $ 218,567 |
Deferred income taxes - unallocated | 9,924 | 19,309 | |
Mitchells Restaurants [Member] | |||
Assets | 250 | 15,119 | |
Operating Segments [Member] | Company-owned Steakhouse Restaurants [Member] | |||
Assets | 185,820 | 168,766 | 155,757 |
Operating Segments [Member] | Franchise Operations [Member] | |||
Assets | 2,707 | 2,444 | 2,151 |
Corporate, Non-Segment [Member] | |||
Assets | 9,021 | 7,828 | 16,711 |
Deferred income taxes - unallocated | $ 9,924 | $ 19,309 | $ 28,829 |
Note 18 - Supplemental Consol79
Note 18 - Supplemental Consolidated Financial Statement Information - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Bank credit card receivables | $ 10,992 | $ 11,417 |
Landlord contributions | 704 | 396 |
Franchise fees | 2,456 | 2,306 |
Trade | 463 | 751 |
Insurance receivable | 446 | |
Receivable from gift card issuances | 4,743 | 2,935 |
Other | 1,715 | 1,428 |
Allowance for doubtful accounts | (729) | (732) |
$ 20,790 | $ 18,501 |
Note 18 - Supplemental Consol80
Note 18 - Supplemental Consolidated Financial Statement Information - Summary of Other Assets (Details) - USD ($) $ in Thousands | Dec. 25, 2016 | Dec. 27, 2015 |
Deposits | $ 611 | $ 702 |
Deferred financing costs, net | 60 | 481 |
Other | 28 | 33 |
$ 699 | $ 1,216 |
Note 19 - Quarterly Financial81
Note 19 - Quarterly Financial Data (Unaudited) - Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 25, 2016 | Sep. 25, 2016 | Jun. 26, 2016 | Mar. 27, 2016 | Dec. 27, 2015 | Sep. 27, 2015 | Jun. 28, 2015 | Mar. 29, 2015 | Dec. 25, 2016 | Dec. 27, 2015 | Dec. 28, 2014 | |
Total revenues | $ 107,629 | $ 83,774 | $ 92,654 | $ 101,890 | $ 104,747 | $ 80,292 | $ 91,049 | $ 97,344 | $ 385,947 | $ 373,433 | $ 346,097 |
Cost and expenses | (92,566) | (78,173) | (82,193) | (85,456) | (91,750) | (76,137) | (79,645) | (81,136) | (338,388) | (328,667) | (306,435) |
Operating income | 15,063 | 5,601 | 10,461 | 16,434 | 12,997 | 4,155 | 11,404 | 16,208 | 47,559 | 44,766 | 39,662 |
Interest expense, net | (355) | (333) | (253) | (213) | (202) | (188) | (174) | (226) | (1,154) | (790) | (1,159) |
Other | (50) | (92) | 144 | 7 | 10 | 358 | 37 | ||||
Income from continuing operations before income tax expense | 14,658 | 5,176 | 10,352 | 16,228 | 13,113 | 3,976 | 11,246 | 15,997 | 46,415 | 44,334 | 38,540 |
Income from continuing operations | 5,250 | 1,668 | 3,396 | 5,346 | 4,023 | 1,338 | 3,577 | 5,229 | 15,660 | 14,168 | 11,830 |
Income from continuing operations | 9,408 | 3,508 | 6,956 | 10,882 | 9,090 | 2,638 | 7,669 | 10,768 | 30,755 | 30,166 | 26,710 |
Discontinued operations, net of income tax | (197) | 75 | (48) | (120) | 420 | (73) | (153) | (357) | (290) | (162) | (10,255) |
Net income (loss) | $ 9,211 | $ 3,583 | $ 6,908 | $ 10,762 | $ 9,510 | $ 2,565 | $ 7,516 | $ 10,411 | $ 30,465 | $ 30,004 | $ 16,455 |
Continuing operations (in dollars per share) | $ 0.31 | $ 0.11 | $ 0.22 | $ 0.33 | $ 0.27 | $ 0.08 | $ 0.22 | $ 0.31 | $ 0.97 | $ 0.88 | $ 0.76 |
Discontinued operations (in dollars per share) | (0.01) | 0 | 0 | 0 | 0.01 | 0 | 0 | (0.01) | (0.01) | 0 | (0.29) |
Basic earnings per share (in dollars per share) | 0.30 | 0.11 | 0.22 | 0.33 | 0.28 | 0.08 | 0.22 | 0.30 | 0.96 | 0.88 | 0.47 |
Continuing operations (in dollars per share) | 0.31 | 0.11 | 0.21 | 0.33 | 0.27 | 0.08 | 0.22 | 0.31 | 0.96 | 0.87 | 0.75 |
Discontinued operations (in dollars per share) | (0.01) | 0 | 0 | 0 | 0.01 | 0 | 0 | (0.01) | (0.01) | 0 | (0.29) |
Diluted earnings per share (in dollars per share) | 0.30 | 0.11 | 0.21 | 0.33 | 0.28 | 0.08 | 0.22 | 0.30 | 0.95 | 0.87 | 0.46 |
Dividends declared per common share (in dollars per share) | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.06 | $ 0.28 | $ 0.24 | $ 0.20 |
Debt issuance costs written off | $ 318 | $ 9 | $ 16 | $ 15 | $ 358 |