Chuy's (CHUY) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 27, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2020
Document Transition Report	false
Entity File Number	001-35603
Entity Registrant Name	CHUY’S HOLDINGS, INC.
Entity Central Index Key	0001524931
Current Fiscal Year End Date	--12-27
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5717694
Entity Address, Address Line One	1623 Toomey Rd.
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78704
City Area Code	(512)
Local Phone Number	473-2783
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CHUY
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,694,512

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 27, 2020	Dec. 29, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 77,775	$ 10,074
Accounts receivable	776	1,426
Lease incentives receivable	400	250
Inventories	1,401	1,657
Prepaid expenses and other current assets	3,884	3,376
Total current assets	84,236	16,783
Property and equipment, net	188,692	210,750
Operating lease assets	158,659	169,299
Deferred tax asset	9,111	2,601
Other assets and intangible assets, net	1,019	667
Tradename	21,900	21,900
Goodwill	24,069	24,069
Total assets	487,686	446,069
CURRENT LIABILITIES
Accounts payable	3,670	4,253
Accrued liabilities	22,928	21,107
Operating lease liabilities	14,966	10,307
Income tax payable	267	532
Total current liabilities	41,831	36,199
Operating lease liabilities, less current portion	206,232	214,541
Other liabilities	673	393
Total liabilities	248,736	251,133
Commitments and contingencies
Stockholders’ equity
Common stock, $0.01 par value; 60,000,000 shares authorized; 19,694,512 shares issued and outstanding at September 27, 2020 and 16,636,464 shares issued and outstanding at December 29, 2019	197	166
Preferred stock, $0.01 par value; 15,000,000 shares authorized and no shares issued or outstanding at September 27, 2020 and December 29, 2019	0	0
Paid-in capital	143,771	94,712
Retained earnings	94,982	100,058
Total stockholders’ equity	238,950	194,936
Total liabilities and stockholders’ equity	$ 487,686	$ 446,069

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 27, 2020	Dec. 29, 2019
Common stock - par value	$ 0.01	$ 0.01
Common stock - shares authorized	60,000,000	60,000,000
Common stock - shares issued	19,694,512	16,636,464
Common stock - shares outstanding	19,694,512	16,636,464
Preferred stock - par value	$ 0.01	$ 0.01
Preferred stock - authorized	15,000,000	15,000,000
Preferred stock - issued	0	0
Preferred stock - outstanding	0	0

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Income Statements - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Revenue	$ 82,032	$ 109,082	$ 242,244	$ 324,325
Costs and expenses:
Cost of sales	19,819	28,673	59,791	83,562
Labor	23,891	38,770	74,808	114,323
Operating	12,659	16,127	37,964	46,583
Occupancy	7,480	8,206	22,563	24,340
General and administrative	5,701	5,975	16,195	18,010
Marketing	514	1,492	1,888	4,487
Restaurant pre-opening	345	457	1,483	2,357
Legal settlement	0	0	0	775
Impairment, closed restaurant and other costs	3,444	7,300	23,999	7,888
Gain on insurance settlements	0	0	(1,000)	0
Depreciation and amortization	4,844	5,284	15,028	15,485
Total costs and expenses	78,697	112,284	252,719	317,810
Income (loss) from operations	3,335	(3,202)	(10,475)	6,515
Interest expense, net	33	28	238	90
Income (loss) before income taxes	3,302	(3,230)	(10,713)	6,425
Income tax expense (benefit)	476	(1,413)	(5,637)	(1,220)
Net income (loss)	$ 2,826	$ (1,817)	$ (5,076)	$ 7,645
Net income (loss) per common share:
Basic	$ 0.14	$ (0.11)	$ (0.28)	$ 0.46
Diluted	$ 0.14	$ (0.11)	$ (0.28)	$ 0.45
Weighted-average shares outstanding:
Basic	19,692,181	16,615,927	17,961,008	16,764,010
Diluted	19,784,364	16,720,662	17,961,008	16,836,430

Statement of Stockholders' Equi

Statement of Stockholders' Equity Statement - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Beginning balance (in shares) at Dec. 30, 2018			16,856,373
Beginning balance at Dec. 30, 2018	$ 193,851	$ (349)	$ 169	$ 0	$ 99,490	$ 0	$ 94,192	$ (349)
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	2,582		$ 0		2,582		0
Proceeds from exercise of stock options			26,217
Proceeds from exercise of stock options	218		$ 0		218		0
Settlement of restricted stock units			121,823
Settlement of restricted stock units	0		$ 1		(1)		0
Repurchase of shares of common stock			(351,774)
Repurchase of shares of common stock	(7,793)		$ (4)		(7,789)		0
Indirect repurchase of shares for minimum tax withholdings			(37,995)
Indirect repurchase of shares for minimum tax withholdings	(861)		$ 0		(861)		0
Net income (loss)	7,645		$ 0		0		7,645
End balance (in shares) at Sep. 29, 2019			16,614,644
End balance at Sep. 29, 2019	195,293		$ 166		93,639		101,488
Beginning balance (in shares) at Jun. 30, 2019			16,698,652
Beginning balance at Jun. 30, 2019	198,292		$ 167		94,820		103,305
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	856		$ 0		856		0
Proceeds from exercise of stock options			9,574
Proceeds from exercise of stock options	85		$ 0		85		0
Settlement of restricted stock units			2,642
Settlement of restricted stock units	0		$ 0		0		0
Repurchase of shares of common stock			(95,294)
Repurchase of shares of common stock	(2,100)		$ (1)		(2,099)		0
Indirect repurchase of shares for minimum tax withholdings			(930)
Indirect repurchase of shares for minimum tax withholdings	(23)		$ 0		(23)		0
Net income (loss)	(1,817)		$ 0		0		(1,817)
End balance (in shares) at Sep. 29, 2019			16,614,644
End balance at Sep. 29, 2019	195,293		$ 166		93,639		101,488
Beginning balance (in shares) at Dec. 29, 2019			16,636,464
Beginning balance at Dec. 29, 2019	194,936		$ 166		94,712		100,058
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	2,944		$ 0		2,944		0
Proceeds from exercise of stock options			6,021
Proceeds from exercise of stock options	$ 73		$ 0		73		0
Sale of common stock from ATM offering, net of fees and expenses	3,041,256		3,041,256
Sale of common stock from ATM offering, net of fees and expenses	$ 48,167		$ 31		48,136		0
Settlement of restricted stock units			144,601
Settlement of restricted stock units	$ 0		$ 1		(1)		0
Repurchase of shares of common stock	(90,000)		(90,144)
Repurchase of shares of common stock	$ (1,422)		$ (1)		(1,421)		0
Indirect repurchase of shares for minimum tax withholdings			(43,686)
Indirect repurchase of shares for minimum tax withholdings	(672)		$ 0		(672)		0
Net income (loss)	(5,076)		$ 0		0		(5,076)
End balance (in shares) at Sep. 27, 2020			19,694,512
End balance at Sep. 27, 2020	238,950		$ 197		143,771		94,982
Beginning balance (in shares) at Jun. 28, 2020			19,689,892
Beginning balance at Jun. 28, 2020	235,115		$ 197		142,762		92,156
Increase (Decrease) in Stockholders' Equity
Stock-based compensation	987		$ 0		987		0
Proceeds from exercise of stock options			2,850
Proceeds from exercise of stock options	39		$ 0		39		0
Settlement of restricted stock units			2,670
Settlement of restricted stock units	0		$ 0		0		0
Indirect repurchase of shares for minimum tax withholdings			(900)
Indirect repurchase of shares for minimum tax withholdings	(17)		$ 0		(17)		0
Net income (loss)	2,826		$ 0		0		2,826
End balance (in shares) at Sep. 27, 2020			19,694,512
End balance at Sep. 27, 2020	$ 238,950		$ 197		$ 143,771		$ 94,982

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019
Cash flows from operating activities:
Net income (loss)	$ (5,076)	$ 7,645
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	15,028	15,485
Operating lease assets	7,507	(303)
Amortization of loan origination costs	36	25
Loss on asset impairment and closed restaurant costs	20,869	7,114
Stock-based compensation	2,764	2,423
Loss on disposal of property and equipment	414	220
Deferred income taxes	(6,510)	(2,494)
Changes in operating assets and liabilities:
Accounts receivable	650	855
Lease incentive receivable	(150)	1,239
Income tax receivable and payable	(265)	603
Inventories	256	(94)
Prepaid expenses and other current assets	(508)	(3,087)
Accounts payable	(617)	(2,434)
Accrued liabilities	2,101	5,343
Operating lease liabilities	(3,650)	89
Net cash provided by operating activities	32,849	32,629
Cash flows from investing activities:
Purchase of property and equipment	(10,905)	(21,487)
Purchase of other assets	(389)	(429)
Net cash used in investing activities	(11,294)	(21,916)
Cash flows from financing activities:
Net proceeds from sale of common stock	48,167	0
Borrowings under revolving line of credit	25,000	5,000
Payments under revolving line of credit	(25,000)	(5,000)
Repurchase of shares of common stock	(1,422)	(7,793)
Proceeds from the exercise of stock options	73	218
Indirect repurchase of shares for minimum tax withholdings	(672)	(861)
Net cash provided by (used in) financing activities	46,146	(8,436)
Net increase in cash and cash equivalents	67,701	2,277
Cash and cash equivalents, beginning of period	10,074	8,199
Cash and cash equivalents, end of period	77,775	10,476
Supplemental disclosure of non-cash investing and financing activities:
Property and equipment and other assets acquired by accounts payable	34	734
Supplemental cash flow disclosures:
Cash paid for interest	185	53
Cash paid for income taxes	$ 1,166	$ 593

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Chuy’s Holdings, Inc. (the “Company” or “Chuy’s”) develops and operates Chuy’s restaurants throughout the United States. Chuy’s is a growing, full-service restaurant concept offering a distinct menu of authentic, freshly-prepared Mexican and Tex-Mex inspired food. As of September 27, 2020, the Company operated 92 restaurants across 19 states and had nine restaurants temporarily closed due to the Coronavirus ("COVID-19") pandemic. In the opinion of management, the accompanying unaudited condensed consolidated financial statements and the related notes reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods presented. The unaudited condensed consolidated financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”), except that certain information and notes have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (the “SEC”). Results for interim periods are not necessarily indicative of the results that may be expected for the full fiscal year. The unaudited condensed consolidated financial statements should be read in conjunction with consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2019. The accompanying condensed consolidated balance sheet as of December 29, 2019, has been derived from our audited consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the period. Actual results could differ from those estimates. Certain prior year amounts have been reclassified in our unaudited condensed consolidated financial statements and notes thereto to conform to current year presentation. The Company operates on a 52- or 53- week fiscal year that ends on the last Sunday of the calendar year. Each quarterly period has 13 weeks, except for a 53-week year when the fourth quarter has 14 weeks. Our 2020 and 2019 fiscal years both consist of 52 weeks. COVID-19 Pandemic During March 2020, the World Health Organization declared the COVID-19 outbreak to be a global pandemic and the United States declared a National Public Health Emergency. The COVID-19 pandemic has significantly impacted health and economic conditions throughout the United States. Federal, state and local governments took a variety of actions to contain the spread of COVID-19. Many jurisdictions where our restaurants are located required mandatory closures or imposed capacity limitations and other restrictions affecting our operations. During the third quarter of 2020, the Company saw sequential improvement in comparable restaurant sales as state and local restrictions, while still in effect, were eased in many states, including Texas. As of September 27, 2020, the Company had reopened dining rooms at varying degrees of operating capacity in 92 of its 101 restaurants and nine restaurants remained temporarily closed. During the thirty-nine weeks ended September 27, 2020, the Company had taken various steps to reduce non-essential spend, postpone restaurant development and rightsize operations in light of reduced sales volume to improve our store level profitability and increase our cash flows. The Company also enhanced its liquidity position by repaying the $25.0 million outstanding under its revolving credit facility with a portion of the net proceeds from the sale of its common stock in its "At-The-Market" ("ATM") offering. As of September 27, 2020, the Company had $77.8 million in cash and cash equivalents, no debt and $25.0 million of availability under its revolving credit facility. Management believes the Company's strong financial position, combined with the measures taken during the pandemic, will allow the Company to meet its financial obligations over the next twelve months. We cannot predict how soon we will be able to reopen all of our restaurants at full capacity, and our ability to reopen and stay open will depend in part on the actions of a number of governmental bodies over which we have no control. Moreover, once restrictions are lifted, it is unclear how quickly customers will return to our restaurants, which may be a function of continued concerns over safety and/or depressed consumer sentiment due to adverse economic conditions, including job losses.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 27, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on the Company's consolidated financial statements.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 27, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The number of shares and net income (loss) per share data for all periods presented are based on the historical weighted-average shares of common stock outstanding. Basic net income (loss) per share of the Company's common stock is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per share of the Company's common stock is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential shares of common stock equivalents outstanding during the period using the treasury stock method for dilutive options and restricted stock units (these restricted stock units were granted under the Chuy's Holdings, Inc. 2012 Omnibus Equity Incentive Plan (the "2012 Plan") and the Chuy's Holdings, Inc. 2020 Omnibus Incentive Plan (the "2020 Plan")). For the thirteen weeks ended September 27, 2020 and September 29, 2019, there were approximately 91,100 and 20,900 shares, respectively, of common stock equivalents that were excluded from the calculation of diluted net income (loss) per share because their inclusion would have been anti-dilutive. For the thirty-nine weeks ended September 27, 2020 and September 29, 2019, there were approximately 25,300 and 32,200 shares, respectively, of common stock equivalents that were excluded from the calculation of diluted net income (loss) per share because their inclusion would have been anti-dilutive. The computation of basic and diluted net income (loss) per share is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 BASIC Net income (loss) $ 2,826 $ (1,817) $ (5,076) $ 7,645 Weighted-average common shares outstanding 19,692,181 16,615,927 17,961,008 16,764,010 Basic net income (loss) per common share $ 0.14 $ (0.11) $ (0.28) $ 0.46 DILUTED Net income (loss) $ 2,826 $ (1,817) $ (5,076) $ 7,645 Weighted-average common shares outstanding 19,692,181 16,615,927 17,961,008 16,764,010 Dilutive effect of stock options and restricted stock units 92,183 104,735 — 72,420 Weighted-average of diluted shares 19,784,364 16,720,662 17,961,008 16,836,430 Diluted net income (loss) per common share $ 0.14 $ (0.11) $ (0.28) $ 0.45

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 27, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company has outstanding awards under the Chuy's Holdings, Inc. 2006 Stock Option Plan ("the "2006" Plan), the 2012 Plan and the 2020 Plan. On July 30, 2020, the Company’s stockholders approved the 2020 Plan, which replaced the 2012 Plan. The termination of the 2012 Plan did not affect outstanding awards granted under the 2012 Plan. The 2006 Plan was terminated by the board effective July 27, 2012, and no further awards may be granted under the plan after such date. The termination of the 2006 Plan did not affect outstanding awards granted under the 2006 Plan. Options granted under these plans vest over five Restricted stock units granted under the 2012 Plan and 2020 Plan vest over four Stock-based compensation expense recognized in the accompanying condensed consolidated income statements was approximately $941,000 and $801,000 for the thirteen weeks ended September 27, 2020 and September 29, 2019, respectively, and $2,764,000 and $2,423,000 for the thirty-nine weeks ended September 27, 2020 and September 29, 2019, respectively. A summary of stock-based compensation activity related to restricted stock units for the thirty-nine weeks ended September 27, 2020 are as follows: Shares Weighted Weighted Outstanding at December 29, 2019 406,205 $ 25.02 Granted 284,099 14.77 Vested (144,601) 26.16 Forfeited (26,601) 18.34 Outstanding at September 27, 2020 519,102 $ 19.43 2.59 The fair value of the restricted stock units is the quoted market value of our common stock on the date of grant. As of September 27, 2020, total unrecognized stock-based compensation expense related to non-vested restricted stock units was approximately $8.0 million. This amount is expected to be recognized evenly over the remaining vesting period of the grants.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 27, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Revolving Credit Facility On November 30, 2012, the Company entered into a $25.0 million Revolving Credit Facility with Wells Fargo Bank, National Association. On May 21, 2020, the Company entered into the second amendment (the “Amendment”) to its Revolving Credit Facility (as amended, the "Revolving Credit Facility") to (1) extend the maturity date to April 30, 2022, (2) relax compliance with the financial covenants during the COVID-19 pandemic through the new maturity date and (3) revise the applicable margins and leverage ratios that determine the commitment fees and interest payable by the Company. Under the Company's Revolving Credit Facility, the Company may request to increase the size of the Revolving Credit Facility by up to an additional $25.0 million, in minimum principal amounts of $5.0 million or the remaining amount of the $25.0 million if less than $5.0 million (the "Incremental Revolving Loan"). In the event that any of the lenders fund the Incremental Revolving Loan, the terms and provisions of the Incremental Revolving Loan will be the same as under the Company's Revolving Credit Facility. Borrowings under the Revolving Credit Facility generally bear interest at a variable rate based upon the Company's election, of (i) the base rate (which is the highest of the prime rate, federal funds rate plus 0.5% and one month LIBOR plus 1.0%), or (ii) LIBOR, plus, in either case, an applicable margin based on the Company's consolidated total leverage ratio (as defined in the Amendment) with a LIBOR floor of 1.0%. The Revolving Credit Facility also requires payment for commitment fees that accrue on the daily unused commitment of the lender at the applicable margin, which varies based on the Company's consolidated total leverage ratio. The Revolving Credit Facility also requires compliance with a fixed charge coverage ratio, a consolidated total leverage ratio, growth capital expenditure limitation during fiscal years 2020 and 2021 and a minimum monthly liquidity requirement of $5.0 million. The Revolving Credit Facility also has certain restrictions on the payment of dividends and distributions. Under the Revolving Credit Facility, the Company may declare and make dividend payments so long as (i) no default or event of default has occurred and is continuing or would result therefrom and (ii) immediately after giving effect to any such dividend payment, on a pro forma basis, the lease adjusted leverage ratio does not exceed 3.50 to 1.00. The obligations under the Company’s Revolving Credit Facility are secured by a first priority lien on substantially all of the Company’s assets. As of September 27, 2020, the Company had no borrowings under the Revolving Credit Facility, and we were in compliance with all covenants.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 27, 2020
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities The major classes of accrued liabilities at September 27, 2020 and December 29, 2019 are summarized as follows: September 27, 2020 December 29, 2019 Accrued compensation and related benefits $ 10,858 $ 9,342 Other accruals 4,091 4,302 Property tax 3,780 2,220 Sales and use tax 2,341 2,954 Deferred gift card revenue 1,858 2,289 Total accrued liabilities $ 22,928 $ 21,107

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 27, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity ATM Offering During the second quarter of 2020, the Company issued 3,041,256 shares of its common stock and received net proceeds of $48.2 million after deducting sales agent commissions and offering expenses. A portion of the net proceeds was used to repay the $25.0 million outstanding under the Company Revolving Credit Facility as of the end of the first quarter of 2020. The Company intends to use the remaining net proceeds from the ATM offering for general corporate purposes, including, but not limited to, increasing its liquidity as a result of the COVID-19 pandemic. Share Repurchase Program On October 31, 2019, the Company’s board of directors authorized a new share repurchase program under which the Company may, at its discretion, repurchase up to $30.0 million of its common stock through December 31, 2022. Repurchases of the Company's outstanding common stock will be made in accordance with applicable laws and may be made at management's discretion from time to time in the open market, through privately negotiated transactions or otherwise, including pursuant to Rule 10b5-1 trading plans. There is no guarantee as to the exact number of shares to be repurchased by the Company. The timing and extent of repurchases will depend upon several factors, including market and business conditions, regulatory requirements and other corporate considerations, and repurchases may be discontinued at any time.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 27, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Contingencies As of September 27, 2020, we are involved in various legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on our condensed consolidated financial position, results of operations, or cash flows. See Note 10, Income Taxes for additional information.

Leases

Leases	9 Months Ended
	Sep. 27, 2020
Leases [Abstract]
Leases	Leases The Company determines if a contract contains a lease at inception. The Company's material long-term operating lease agreements are for the land and buildings for our restaurants as well as our corporate offices. The lease term begins on the date that the Company takes possession under the lease, including the pre-opening period during construction, when in many cases the Company is not making rent payments. The initial lease terms range from 10 years to 15 years, most of which include renewal options totaling 10 to 15 years. The lease term is generally the minimum of the noncancelable period or the lease term including renewal options which are reasonably certain of being exercised up to a term of approximately 20 years. Operating lease assets and liabilities are recognized at the lease commencement date for material leases with a term of greater than 12 months. Operating lease liabilities represent the present value of future minimum lease payments. Since our leases do not provide an implicit rate, our operating lease liabilities are calculated using the Company's secured incremental borrowing rate at lease commencement. We estimate this rate based on prevailing financial market conditions, comparable companies, credit analysis and management judgment. Minimum lease payments include only fixed lease components of the agreement, as well as variable rate payments that depend on an index, initially measured using the index at the lease commencement date. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepaid or accrued lease payments, initial direct costs and lease incentives. Lease incentives are recognized when construction milestones are met and reduce our operating lease asset. They are amortized through the operating lease assets as reductions of rent expense over the lease term. Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments that do not depend on a rate or index, escalation in the index subsequent to the initial measurement, payments associated with non-lease components such as common area maintenance, real estate taxes and insurance, and short-term lease payments (leases with a term with 12 months or less) are expensed as incurred. Certain of the Company’s operating leases contain clauses that provide for contingent rent based on a percentage of sales greater than certain specified target amounts. These variable payments are expensed when the achievement of the specified target that triggers the contingent rent is considered probable. As of September 27, 2020, all of the Company's leases were operating. During the second quarter of 2020, the Company suspended lease payments for the months of April through June 2020 as a result of the COVID-19 pandemic. The Company was able to negotiate rent concessions, abatements and deferrals with landlords on a large portion of our operating leases. Financial Accounting Standards Board ("FASB") issued a clarification to accounting for lease concessions in response to the COVID-19 pandemic to reduce the operational challenges and complexity of lease accounting. The Company used the relief provisions provided by FASB and made an election to account for the lease concessions as if they were part of the original lease agreement. The recognition of rent concessions did not have a material impact on our consolidated financial statements. Components of operating lease costs are included in occupancy, closed restaurant costs, restaurant pre-opening, general and administrative expense and property and equipment, net: Thirteen Weeks Ended Thirty-Nine Weeks Ended Lease cost September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Operating lease cost (a) $ 6,500 $ 6,496 $ 19,523 $ 19,082 Variable lease cost 143 315 360 865 $ 6,643 $ 6,811 $ 19,883 $ 19,947 (a) Includes short-term operating lease costs which are immaterial. Supplemental cash flow disclosures for the thirty-nine weeks ended September 27, 2020 and September 29, 2019, respectively: Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 Cash paid for operating lease liabilities 15,472 19,177 Operating lease assets obtained in exchange for operating lease liabilities (a) (1,351) 176,511 (a) The thirty-nine weeks ended September 27, 2020 includes a $7.0 million reduction to the operating lease assets and liabilities mainly as a result of shortening the remaining life of certain leases during the first quarter of 2020. The thirty-nine weeks ended September 29, 2019 includes the transition adjustment for the adoption of Leases (Topic 842) of $170.3 million as well as a $1.3 million reduction to the operating lease assets and liabilities as a result of shortening the remaining life of certain leases. The Company recorded $0.2 million and $0.7 million in deferred lease incentives during the thirty-nine weeks ended September 27, 2020 and September 29, 2019, respectively. Supplemental balance sheet and other lease disclosures: Operating leases Classification September 27, 2020 December 29, 2019 Right-of-use assets Operating lease assets $ 158,659 $ 169,299 Deferred rent payments (a) Operating lease liability 3,269 — Current lease liabilities Operating lease liability 11,697 10,307 14,966 10,307 Non-current lease liabilities Operating lease liability, less current portion 206,232 214,541 221,198 224,848 (a) A majority of the deferred rent payments is payable within the next 12 months Weighted average remaining lease term (in years) 14.0 15.0 Weighted average discount rate 7.9 % 7.8 % Future minimum rent payments for our operating leases, excluding the deferred rent payments of $3.3 million, for the next five years as of September 27, 2020 are as follows: Fiscal year ending: Remainder of 2020 $ 6,944 2021 28,521 2022 27,753 2023 27,625 2024 26,459 Thereafter 243,249 Total minimum lease payments 360,551 Less: imputed interest 142,622 Present value of lease liabilities $ 217,929 As of September 27, 2020, operating lease payments exclude approximately $7.1 million of legally binding minimum lease payments for leases signed but which we have not yet taken possession.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 27, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law. The CARES Act includes provisions that allow net operating losses in 2018, 2019 and 2020 to be carried back for up to five years and eliminates the 80% taxable income limitation on such net operating loss deductions if utilized before 2021. Additionally, the CARES Act includes an administrative correction of the depreciation recovery period for qualified improvement property ("QIP"), including certain restaurant leasehold improvement costs that will result in the acceleration of depreciation on these assets retroactive to 2018. As a result, we estimate we will receive federal tax refunds for a total of approximately $1.6 million. The following is a reconciliation of the expected federal income taxes at the statutory rates of 21% for the thirteen and thirty-nine weeks ended September 27, 2020 and September 29, 2019: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Expected income tax (benefit) expense 693 (678) (2,250) 1,349 State tax expense, net of federal benefit 216 (25) 108 470 FICA tip credit (1,187) (729) (2,979) (3,205) Deferred tax balance adjustment (a) 620 — (1,016) — Other 134 19 500 166 Income tax (benefit) expense 476 (1,413) (5,637) (1,220) (a) Reflects the tax benefit recorded in the quarter associated with a carryback of federal net operating losses due to the CARES Act administrative correction of the deprecation recovery period for QIP. Deferred tax assets were $9.1 million and $2.6 million as of September 27, 2020 and September 29, 2019, respectively. This increase is primarily related to an increase in the general business tax credits. Deferred tax assets are reduced by a valuation allowance if, based on the weight of the available evidence, it is more likely than not that some or all of the deferred taxes will not be realized. Both positive and negative evidence is considered in forming management’s judgment as to whether a valuation allowance is appropriate, and more weight is given to evidence that can be objectively verified. The tax benefits relating to any reversal of the valuation allowance on the deferred tax assets would be recognized as a reduction of future income tax expense. As of September 27, 2020 the Company believes that it will realize all of the deferred tax assets. Therefore, no valuation allowance has been recorded. The Internal Revenue Service ("IRS") audited our tax return for the fiscal year 2016. In August 2020, the IRS issued a Notice of Proposed Adjustment to the Company asserting that the tenant allowances paid under our operating leases should be recorded as taxable income for years 2016 and prior. The Company disagrees with this position based on the underlying facts and circumstances as well as standard industry practice. The Company estimates if the IRS's position was upheld, the Company's tax liability could range between $0.5 million and $2.5 million. In accordance with the provisions of FASB Accounting Standards Codification Subtopic 740-10, Accounting for Uncertainty in Income Taxes , the Company believes that it is more likely than not that the Company's position will ultimately be sustained upon further examination, including the resolution of the IRS's appeal or litigation processes, if any. As a result, no additional accrual has been made as of September 27, 2020. The tax years 2019, 2018 and 2017 remain open for IRS audit. The Company has received no notice of audit or any notifications from the IRS for any of the open tax years.

Impairment, Closed Restaurant a

Impairment, Closed Restaurant and Other Costs	9 Months Ended
	Sep. 27, 2020
Impairment & closed restaurant costs [Abstract]
Impairment, Closed Restaurant and Other Costs	Impairment, Closed Restaurant and Other Costs The Company reviews long-lived assets, such as property and equipment and intangibles, subject to amortization, for impairment when events or circumstances indicate the carrying value of the assets may not be recoverable. In determining the recoverability of the asset value, an analysis is performed at the individual restaurant level and primarily includes an assessment of historical undiscounted cash flows and other relevant factors and circumstances. The Company evaluates future cash flow projections in conjunction with qualitative factors and future operating plans and regularly reviews any restaurants with a deficient level of cash flows for the previous 24 months to determine if impairment testing is necessary. Recoverability of assets to be held and used is measured by a comparison of the carrying value of the restaurant to its estimated future undiscounted cash flows. If the estimated undiscounted future cash flows are less than the carrying value, we determine if there is an impairment loss by comparing the carrying value of the restaurant to its estimated fair value. Based on this analysis, if the carrying value of the restaurant exceeds its estimated fair value, an impairment charge is recognized by the amount by which the carrying value exceeds the fair value. We make assumptions to estimate future cash flows and asset fair values. The estimated fair value is generally determined using the depreciated replacement cost method, the income approach, or discounted cash flow projections. Estimated future cash flows are highly subjective assumptions based on the Company’s projections and understanding of our business, historical operating results, and trends in sales and restaurant level operating costs. The Company’s impairment assessment process requires the use of estimates and assumptions regarding future cash flows and operating outcomes, which are based upon a significant degree of management judgment. The estimates used in the impairment analysis represent a Level 3 fair value measurement. The Company continues to assess the performance of restaurants and monitors the need for future impairment. Changes in the economic environment, real estate markets, capital spending, overall operating performance and underlying assumptions could impact these estimates and result in future impairment charges. The Company recorded impairment, closed restaurant and other costs as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Operating lease assets impairment $ — $ — $ 3,133 — Property and equipment impairment 1,008 7,114 16,152 $ 7,114 Total impairment charge 1,008 7,114 19,285 7,114 Closed restaurant costs 1,591 186 3,869 774 COVID-19 related charges 845 — 845 — Impairment, closed restaurant and other costs $ 3,444 $ 7,300 $ 23,999 $ 7,888 During the thirteen weeks ended September 27, 2020, the Company recorded a $1.0 million impairment charge as a result of the discontinuation of the Company's complimentary “Nacho Car” and a COVID-19 related charge of $0.8 million due to idle development costs as a result of delaying restaurant openings to 2021.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 27, 2020
Earnings Per Share [Abstract]
Basic net income (loss) per common share	The computation of basic and diluted net income (loss) per share is as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 BASIC Net income (loss) $ 2,826 $ (1,817) $ (5,076) $ 7,645 Weighted-average common shares outstanding 19,692,181 16,615,927 17,961,008 16,764,010 Basic net income (loss) per common share $ 0.14 $ (0.11) $ (0.28) $ 0.46 DILUTED Net income (loss) $ 2,826 $ (1,817) $ (5,076) $ 7,645 Weighted-average common shares outstanding 19,692,181 16,615,927 17,961,008 16,764,010 Dilutive effect of stock options and restricted stock units 92,183 104,735 — 72,420 Weighted-average of diluted shares 19,784,364 16,720,662 17,961,008 16,836,430 Diluted net income (loss) per common share $ 0.14 $ (0.11) $ (0.28) $ 0.45

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 27, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock-Based Compensation Activity Related to Restricted Stock Units	A summary of stock-based compensation activity related to restricted stock units for the thirty-nine weeks ended September 27, 2020 are as follows: Shares Weighted Weighted Outstanding at December 29, 2019 406,205 $ 25.02 Granted 284,099 14.77 Vested (144,601) 26.16 Forfeited (26,601) 18.34 Outstanding at September 27, 2020 519,102 $ 19.43 2.59

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 27, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The major classes of accrued liabilities at September 27, 2020 and December 29, 2019 are summarized as follows: September 27, 2020 December 29, 2019 Accrued compensation and related benefits $ 10,858 $ 9,342 Other accruals 4,091 4,302 Property tax 3,780 2,220 Sales and use tax 2,341 2,954 Deferred gift card revenue 1,858 2,289 Total accrued liabilities $ 22,928 $ 21,107

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 27, 2020
Leases [Abstract]
Supplemental Cash Flow Information	Supplemental cash flow disclosures for the thirty-nine weeks ended September 27, 2020 and September 29, 2019, respectively: Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 Cash paid for operating lease liabilities 15,472 19,177 Operating lease assets obtained in exchange for operating lease liabilities (a) (1,351) 176,511 (a) The thirty-nine weeks ended September 27, 2020 includes a $7.0 million reduction to the operating lease assets and liabilities mainly as a result of shortening the remaining life of certain leases during the first quarter of 2020. The thirty-nine weeks ended September 29, 2019 includes the transition adjustment for the adoption of Leases (Topic 842) of $170.3 million as well as a $1.3 million reduction to the operating lease assets and liabilities as a result of shortening the remaining life of certain leases. The Company recorded $0.2 million and $0.7 million in deferred lease incentives during the thirty-nine weeks ended September 27, 2020 and September 29, 2019, respectively.
Components of operating lease costs	Components of operating lease costs are included in occupancy, closed restaurant costs, restaurant pre-opening, general and administrative expense and property and equipment, net: Thirteen Weeks Ended Thirty-Nine Weeks Ended Lease cost September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Operating lease cost (a) $ 6,500 $ 6,496 $ 19,523 $ 19,082 Variable lease cost 143 315 360 865 $ 6,643 $ 6,811 $ 19,883 $ 19,947 (a) Includes short-term operating lease costs which are immaterial.
Supplemental balance sheet information	Supplemental balance sheet and other lease disclosures: Operating leases Classification September 27, 2020 December 29, 2019 Right-of-use assets Operating lease assets $ 158,659 $ 169,299 Deferred rent payments (a) Operating lease liability 3,269 — Current lease liabilities Operating lease liability 11,697 10,307 14,966 10,307 Non-current lease liabilities Operating lease liability, less current portion 206,232 214,541 221,198 224,848 (a) A majority of the deferred rent payments is payable within the next 12 months Weighted average remaining lease term (in years) 14.0 15.0 Weighted average discount rate 7.9 % 7.8 %
Operating Lease Liability Maturity Schedule	Future minimum rent payments for our operating leases, excluding the deferred rent payments of $3.3 million, for the next five years as of September 27, 2020 are as follows: Fiscal year ending: Remainder of 2020 $ 6,944 2021 28,521 2022 27,753 2023 27,625 2024 26,459 Thereafter 243,249 Total minimum lease payments 360,551 Less: imputed interest 142,622 Present value of lease liabilities $ 217,929

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 27, 2020
Income Tax Disclosure [Abstract]
Reconciliation of the expected income taxes	The following is a reconciliation of the expected federal income taxes at the statutory rates of 21% for the thirteen and thirty-nine weeks ended September 27, 2020 and September 29, 2019: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Expected income tax (benefit) expense 693 (678) (2,250) 1,349 State tax expense, net of federal benefit 216 (25) 108 470 FICA tip credit (1,187) (729) (2,979) (3,205) Deferred tax balance adjustment (a) 620 — (1,016) — Other 134 19 500 166 Income tax (benefit) expense 476 (1,413) (5,637) (1,220) (a) Reflects the tax benefit recorded in the quarter associated with a carryback of federal net operating losses due to the CARES Act administrative correction of the deprecation recovery period for QIP.

Impairment and Closed Restauran

Impairment and Closed Restaurant Costs (Tables)	9 Months Ended
	Sep. 27, 2020
Impairment & closed restaurant costs [Abstract]
Impairment and closed restaurant costs	The Company recorded impairment, closed restaurant and other costs as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended September 27, 2020 September 29, 2019 September 27, 2020 September 29, 2019 Operating lease assets impairment $ — $ — $ 3,133 — Property and equipment impairment 1,008 7,114 16,152 $ 7,114 Total impairment charge 1,008 7,114 19,285 7,114 Closed restaurant costs 1,591 186 3,869 774 COVID-19 related charges 845 — 845 — Impairment, closed restaurant and other costs $ 3,444 $ 7,300 $ 23,999 $ 7,888

Basis of Presentation Company I

Basis of Presentation Company Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 27, 2020USD ($)RestaurantState	Sep. 27, 2020USD ($)RestaurantState	Sep. 29, 2019USD ($)	Dec. 29, 2019USD ($)	Dec. 30, 2018USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Open Restaurants | Restaurant	92	92
Line of Credit Facility Additional Borrowing Capacity	$ 25,000	$ 25,000
Cash and cash equivalents	$ 77,775	$ 77,775	$ 10,476	$ 10,074	$ 8,199
Total Number of Restaurants | Restaurant	101	101
Repayments of Long-term Lines of Credit	$ 25,000	$ 25,000	$ 5,000
Number of States in which Entity Operates | State	19	19
Closed restaurants	9	9

Net Income (Loss) Per Share (Co

Net Income (Loss) Per Share (Computation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
BASIC
Net income (loss)	$ 2,826	$ (1,817)	$ (5,076)	$ 7,645
Weighted-average common shares outstanding	19,692,181	16,615,927	17,961,008	16,764,010
Basic net income (loss) per common share	$ 0.14	$ (0.11)	$ (0.28)	$ 0.46
DILUTED
Net income (loss)	$ 2,826	$ (1,817)	$ (5,076)	$ 7,645
Weighted-average common shares outstanding	19,692,181	16,615,927	17,961,008	16,764,010
Dilutive effect of stock options and restricted stock units	92,183	104,735	0	72,420
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	91,100	20,900	25,300	32,200
Weighted-average of diluted shares	19,784,364	16,720,662	17,961,008	16,836,430
Diluted net income (loss) per common share	$ 0.14	$ (0.11)	$ (0.28)	$ 0.45

Net Income (Loss) Per Share (Na

Net Income (Loss) Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	91,100	20,900	25,300	32,200

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Stock-based compensation	$ 941	$ 801	$ 2,764	$ 2,423
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	192,097		192,097
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			2 years
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 8,000		$ 8,000
2020 Omnibus Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,115,070		1,115,070
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock-Based Compensation Activity - Restricted Stock Units) (Details)	9 Months Ended
	Sep. 27, 2020$ / sharesshares
Shares
Outstanding at December 29, 2019 | shares	406,205
Granted | shares	284,099
Vested | shares	(144,601)
Forfeited | shares	(26,601)
Outstanding at September 27, 2020 | shares	519,102
Weighted Average Fair Value
Outstanding at December 29, 2019 | $ / shares	$ 25.02
Granted | $ / shares	14.77
Vested | $ / shares	26.16
Forfeited | $ / shares	18.34
Outstanding at September 27, 2020 | $ / shares	$ 19.43
Weighted Average Remaining Contractual Term [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	2 years 7 months 2 days

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 27, 2020USD ($)
Debt Instrument [Line Items]
Line of Credit Facility Additional Borrowing Capacity	$ 25
Liquidity Covenant (amount)	5
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	25
Line of Credit Facility Additional Borrowing Capacity	25
Letters of Credit, Borrowing Capacity	$ 5
Revolving Credit Facility [Member] | Libor Floor [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, lease adjusted leverage ratio	3.50
Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, lease adjusted leverage ratio	1

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 27, 2020	Dec. 29, 2019
Payables and Accruals [Abstract]
Accrued compensation and related benefits	$ 10,858	$ 9,342
Other accruals	4,091	4,302
Property tax	3,780	2,220
Sales and use tax	2,341	2,954
Deferred gift card revenue	1,858	2,289
Total accrued liabilities	$ 22,928	$ 21,107

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019	Oct. 31, 2019
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					$ 30,000
Repurchase of shares of common stock (in shares)			90,000
Repurchase of shares of common stock		$ 2,100	$ 1,422	$ 7,793
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 28,600		$ 28,600
Sale of common stock from ATM offering, net of fees and expenses			3,041,256
Net proceeds from sale of common stock	48,200		$ 48,167	0
Repayments of Long-term Lines of Credit	$ 25,000		$ 25,000	$ 5,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2020	Dec. 29, 2019
Lessee, Lease, Description [Line Items]
Deferred rent payments	$ 3,269	$ 0
Operating Lease Payments, Minimum Lease Payments Excluded, Not Yet Taken Possession of Leases	$ 7,100
Initial lease term	20 years
Minimum [Member]
Lessee, Lease, Description [Line Items]
Initial lease term	10 years
Lease terms renewal	10 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Initial lease term	15 years
Lease terms renewal	15 years

Leases - Supplemental cash flow

Leases - Supplemental cash flow disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Leases [Abstract]
Cash paid for operating lease liabilities			$ 15,472	$ 19,177
Operating lease assets obtained in exchange for operating lease liabilities (a)			(1,351)	176,511
Change In Operating Lease Assets and Liabilities Due to Lease Remeasurement	$ 7,000	$ 1,300
842 Transition Adjustment	$ 170,300		170,300
Deferred lease incentives			$ 200	$ 700

Leases - Components of operatin

Leases - Components of operating lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Leases [Abstract]
Operating lease cost	$ 6,500	$ 6,496	$ 19,523	$ 19,082
Variable lease cost	143	315	360	865
Lease cost	$ 6,643	$ 6,811	$ 19,883	$ 19,947

Leases - Supplemental balance s

Leases - Supplemental balance sheet disclosures (Details) - USD ($) $ in Thousands	Sep. 27, 2020	Dec. 29, 2019
Leases [Abstract]
Operating lease assets	$ 158,659	$ 169,299
Deferred rent payments	3,269	0
Current lease liabilities	11,697	10,307
Operating lease liability	14,966	10,307
Operating lease liability, less current portion	206,232	214,541
Operating Lease, Liability - Including Deferred Rent	$ 221,198	$ 224,848
Weighted average remaining lease term (in years)	14 years	15 years
Weighted average discount rate	7.90%	7.80%

Leases - Future minimum rent pa

Leases - Future minimum rent payments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2020	Dec. 29, 2019
Lessee, Lease, Description [Line Items]
Deferred rent payments	$ 3,269	$ 0
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2020	6,944
2021	28,521
2022	27,753
2023	27,625
2024	26,459
Thereafter	243,249
Total minimum lease payments	360,551
Less: imputed interest	142,622
Operating Lease, Liability	217,929
Operating Lease Payments, Minimum Lease Payments Excluded, Not Yet Taken Possession of Leases	$ 7,100

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Income Tax Disclosure [Abstract]
Expected income tax (benefit) expense	$ 693	$ (678)	$ (2,250)	$ 1,349
State tax expense, net of federal benefit	216	(25)	108	470
FICA tip credit	(1,187)	(729)	(2,979)	(3,205)
Deferred tax balance adjustment (a)	620	0	(1,016)	0
Other	134	19	500	166
Income tax (benefit) expense	$ 476	$ (1,413)	$ (5,637)	$ (1,220)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2020	Dec. 29, 2019	Sep. 29, 2019
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Deferred tax asset	$ 9,111	$ 2,601	$ 2,600
Estimated Tax Refund CARES Act	1,600
Minimum [Member]
Income Tax Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	500
Maximum [Member]
Income Tax Contingency [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 2,500

Impairment and Closed Restaur_2

Impairment and Closed Restaurant Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2020	Sep. 29, 2019	Sep. 27, 2020	Sep. 29, 2019
Impairment & closed restaurant costs [Abstract]
Operating lease assets impairment	$ 0	$ 0	$ 3,133	$ 0
Property and equipment impairment	1,008	7,114	16,152	7,114
Total impairment charge	1,008	7,114	19,285	7,114
Closed restaurant costs	1,591	186	3,869	774
COVID-19 related charges	845	0	845	0
Impairment, closed restaurant and other costs	$ 3,444	$ 7,300	$ 23,999	$ 7,888