J. Alexanders (JAX) 10-Q 10 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 01, 2018	Aug. 09, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 1, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	JAX
Entity Registrant Name	J. Alexander's Holdings, Inc.
Entity Central Index Key	1,617,227
Current Fiscal Year End Date	--12-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		14,695,176

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 7,259	$ 10,711
Accounts and notes receivable	1,021	1,446
Inventories	2,611	2,804
Prepaid expenses and other current assets	3,931	3,769
Total current assets	14,822	18,730
Other assets	5,776	6,183
Property and equipment, at cost, less accumulated depreciation and amortization of $48,538 and $43,484 as of July 1, 2018 and December 31, 2017, respectively	107,033	103,615
Goodwill	15,737	15,737
Tradename and other indefinite-lived assets	25,631	25,202
Deferred charges, less accumulated amortization of $268 and $247 as of July 1, 2018 and December 31, 2017, respectively	167	184
Total assets	169,166	169,651
Current liabilities:
Accounts payable	5,840	6,587
Accrued expenses and other current liabilities	9,091	10,745
Unearned revenue	2,373	3,695
Current portion of long-term debt	9,000	9,000
Total current liabilities	26,304	30,027
Long-term debt, net of portion classified as current and deferred loan costs	8,322	10,781
Deferred compensation obligations	6,592	6,451
Deferred income taxes	1,193	2,075
Other long-term liabilities	6,779	6,456
Total liabilities	49,190	55,790
Stockholders' Equity:
Common stock, par value $0.001 per share: Authorized 30,000,000 shares; issued and outstanding 14,695,176 shares as of July 1, 2018 and December 31, 2017, respectively	15	15
Preferred stock, par value $0.001 per share: Authorized 10,000,000 shares; no shares issued and outstanding as of July 1, 2018 or December 31, 2017
Additional paid-in capital	95,680	95,151
Retained earnings	17,227	13,495
Total stockholders' equity attributable to J. Alexander's Holdings, Inc.	112,922	108,661
Non-controlling interests	7,054	5,200
Total stockholders' equity	119,976	113,861
Commitments and contingencies
Total liabilities and stockholders' equity	$ 169,166	$ 169,651

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Property and equipment, at cost, less accumulated depreciation and amortization	$ 48,538	$ 43,484
Deferred charges, accumulated amortization	$ 268	$ 247
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	14,695,176	14,695,176
Common stock, shares outstanding	14,695,176	14,695,176
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income(Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Income Statement [Abstract]
Net sales	$ 60,420	$ 58,216	$ 122,329	$ 118,038
Costs and expenses:
Cost of sales	19,433	19,197	38,694	37,628
Restaurant labor and related costs	18,781	17,959	37,007	35,904
Depreciation and amortization of restaurant property and equipment	2,696	2,500	5,265	4,878
Other operating expenses	11,943	11,539	23,961	23,109
Total restaurant operating expenses	52,853	51,195	104,927	101,519
Transaction and integration expenses	7	460	933	460
General and administrative expenses	4,722	6,336	11,247	11,164
Pre-opening expenses	504	10	830	886
Total operating expenses	58,086	58,001	117,937	114,029
Operating income	2,334	215	4,392	4,009
Other income (expense):
Interest expense	(186)	(224)	(360)	(398)
Other, net	55	51	13	72
Total other expense	(131)	(173)	(347)	(326)
Income from continuing operations before income taxes	2,203	42	4,045	3,683
Income tax benefit (expense)	12	254	(126)	(590)
Loss from discontinued operations, net	(110)	(110)	(221)	(223)
Net income	$ 2,105	$ 186	$ 3,698	$ 2,870
Basic earnings per share:
Income from continuing operations, net of tax	$ 0.15	$ 0.02	$ 0.27	$ 0.21
Loss from discontinued operations, net	(0.01)	(0.01)	(0.02)	(0.02)
Basic earnings per share	0.14	0.01	0.25	0.20
Diluted earnings per share:
Income from continuing operations, net of tax	0.15	0.02	0.26	0.21
Loss from discontinued operations, net	(0.01)	(0.01)	(0.01)	(0.02)
Diluted earnings per share	$ 0.14	$ 0.01	$ 0.25	$ 0.19
Weighted-average common shares outstanding:
Basic	14,695	14,695	14,695	14,695
Diluted	14,901	14,905	14,869	14,800
Comprehensive income	$ 2,105	$ 186	$ 3,698	$ 2,870

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jul. 01, 2018 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Non-controlling Interests
Balances at Dec. 31, 2017	$ 113,861	$ 15	$ 95,151	$ 13,495	$ 5,200
Balance, shares at Dec. 31, 2017		14,695,176
Cumulative effect of change in accounting policy (Note 9)	34			34
Share-based compensation	2,383		529		1,854
Net income	3,698			3,698
Balances at Jul. 01, 2018	$ 119,976	$ 15	$ 95,680	$ 17,227	$ 7,054
Balance, shares at Jul. 01, 2018		14,695,176

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017
Cash flows from operating activities:
Net income	$ 3,698	$ 2,870
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	5,411	5,021
Equity-based compensation expense	2,383	2,308
Other, net	(282)	52
Changes in assets and liabilities:
Accounts and notes receivable	425	(1,089)
Prepaid expenses and other current assets	(162)	(88)
Accounts payable	(653)	(861)
Accrued expenses and other current liabilities	(1,654)	(338)
Other assets and liabilities, net	(587)	229
Net cash provided by operating activities	8,579	8,104
Cash flows from investing activities:
Purchase of property and equipment	(9,019)	(6,597)
Other investing activities	(512)	(273)
Net cash used in investing activities	(9,531)	(6,870)
Cash flows from financing activities:
Payments on long-term debt and obligations under capital leases	(2,500)	(1,111)
Other financing activities		(2)
Net cash used in financing activities	(2,500)	(1,113)
(Decrease) increase in cash and cash equivalents	(3,452)	121
Cash and cash equivalents at beginning of period	10,711	6,632
Cash and cash equivalents at end of period	7,259	6,753
Supplemental disclosures:
Property and equipment obligations accrued at beginning of period	1,854	2,587
Property and equipment obligations accrued at end of period	1,760	969
Cash paid for interest	402	395
Cash paid for income taxes	$ 234	$ 1,838

Organization and Business

Organization and Business	6 Months Ended
	Jul. 01, 2018
Organization And Business [Abstract]
Organization and Business	Note 1 – Organization and Business Separation from FNF and Equity Structure On August 15, 2014, J. Alexander’s Holdings, Inc. (the “Company”) was incorporated in the state of Tennessee as a wholly-owned subsidiary of Fidelity National Financial, Inc. (“FNF”). On September 16, 2015, the Company entered into a separation and distribution agreement with FNF, pursuant to which FNF agreed to distribute one hundred percent of its shares of the Company’s common stock, par value $0.001, on a pro rata basis, to the holders of then Fidelity National Financial Ventures, LLC (“FNFV”) Group common stock, FNF’s then tracking stock traded on The New York Stock Exchange (“The NYSE”). Holders of then FNFV Group common stock received, as a distribution from FNF, approximately 0.17271 shares of the Company’s common stock for every one share of then FNFV Group common stock held at the close of business on September 22, 2015, the record date for the distribution (the “Distribution”). FNFV is now conducting business independently as Cannae Holdings, Inc., (“Cannae”) subsequent to its split-off from FNF effective November 20, 2017. Concurrent with the Distribution, certain reorganization changes were made, resulting in the Company owning all of the outstanding Class A Units and becoming the sole managing member of J. Alexander’s Holdings, LLC, the parent company of all its operating subsidiaries. Also concurrent with the Distribution, the Second Amended and Restated LLC Agreement of J. Alexander’s Holdings, LLC was entered into, resulting in a total number of Class A Units outstanding of 15,000,235. Additionally, a total of 833,346 Class B Units granted to certain members of management effective on January 1, 2015 were also outstanding at the date of Distribution. The Distribution was completed on September 28, 2015. On September 28, 2015, immediately prior to the Distribution, J. Alexander’s Holdings, LLC entered into a Management Consulting Agreement with Black Knight Advisory Services, LLC (“Black Knight”), pursuant to which Black Knight provides corporate and strategic advisory services to J. Alexander’s Holdings, LLC. In accordance with the Management Consulting Agreement, J. Alexander’s Holdings, LLC granted 1,500,024 Class B Units to Black Knight as a profits interest grant on October 6, 2015. As a result of the Distribution, the Company became an independent public company with its common stock listed under the symbol “JAX” on The NYSE, effective September 29, 2015. As of July 1, 2018, a total of 14,695,176 shares of the Company’s common stock, par value $0.001, were outstanding. On October 29, 2015, the Company’s Board of Directors (the “Board”) authorized a share repurchase program for up to 1,500,000 shares of the Company’s outstanding common stock over the three years ending October 29, 2018. Share repurchases under the program have been made and are expected to be made solely from cash on hand and available operating cash flow. Repurchases will be made in accordance with applicable securities laws and may be made from time to time in the open market. The timing, prices and amount of repurchases will depend upon prevailing market prices, general economic and market conditions and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of stock. As of July 1, 2018, 305,059 shares have been repurchased and retired under this program at an aggregate purchase price of $3,203. There was no common stock repurchase activity during the first half of 2018. Business of J. Alexander’s The Company, through J. Alexander’s Holdings, LLC and its subsidiaries, owns and operates full service, upscale restaurants including J. Alexander’s, Redlands Grill, Lyndhurst Grill, Overland Park Grill and Stoney River Steakhouse and Grill (“Stoney River”). At July 1, 2018 and December 31, 2017, the Company operated 45 and 44 restaurants in 16 and 15 states, respectively. The Company’s restaurants are concentrated primarily in the East, Southeast, and Midwest regions of the United States. The Company does not have any restaurants operating under franchise agreements.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 01, 2018
Accounting Policies [Abstract]
Basis of Presentation	Note 2 – Basis of Presentation (a) Interim Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and rules of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the quarter and six-month period ended July 1, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending December 30, 2018. For further information, refer to the Consolidated Financial Statements and footnotes thereto for the fiscal year ended December 31, 2017 included in the Annual Report on Form 10-K of the Company filed with the SEC on March 15, 2018. Total comprehensive income is comprised solely of net income for all periods presented. (b) Principles of Consolidation The unaudited Condensed Consolidated Financial Statements include the accounts of the Company as well as the accounts of its majority-owned subsidiaries. All intercompany profits, transactions, and balances between the Company and its subsidiaries have been eliminated. It is the Company’s policy to reclassify prior year amounts to conform to the current year’s presentation for comparative purposes, if such a reclassification is warranted. As discussed in Note 1, as a result of the Distribution, certain reorganization changes were made resulting in the Company owning all of the outstanding Class A Units and becoming the sole managing member of J. Alexander’s Holdings, LLC. The reorganization transactions were accounted for as a non-substantive transaction in a manner similar to a transaction between entities under common control pursuant to Accounting Standards Codification (“ASC”) 805-50, Transactions between Entities under Common Control (c) Fiscal Year The Company’s fiscal year ends on the Sunday closest to December 31, and each quarter typically consists of 13 weeks. The quarters and six-month periods ended July 1, 2018 and July 2, 2017 each included 13 and 26 weeks of operations, respectively. Fiscal years 2018 and 2017 each include 52 weeks of operations. (d) Discontinued Operations and Restaurant Closures During 2013, three J. Alexander’s restaurants were closed, and two of these restaurants were considered to be discontinued operations. Additionally, the Company closed one J. Alexander’s location during the first quarter of 2017 as the restaurant’s lease had reached the end of its term. Since the closure of this restaurant did not represent a strategic shift that would have a major effect on the Company’s operations and financial results, its results of operations and expenses associated with its closure were not included in discontinued operations. Income from continuing operations before income taxes associated with this location was $35 for the six-month period ended July 2, 2017. The $110 loss from discontinued operations included in the quarters ended July 1, 2018 and July 2, 2017, respectively, and losses for the six-month periods ended July 1, 2018 and July 2, 2017 of $221 and $223, respectively, consist solely of exit and disposal costs which are primarily related to a continuing obligation under a lease agreement for one of these closed locations. (e) Transaction Expenses The Company incurred transaction expenses associated primarily with the proposed acquisition of the Ninety Nine Restaurant and Pub concept (“99 Restaurants”) totaling $7 and $933 for the quarter and six-month period ended July 1, 2018, respectively. Additionally, for the quarter and six-month period ended July 2, 2017, the Company incurred a total of $460 related to this proposed acquisition. Such costs consisted primarily of legal, and other professional and consulting fees as well as other miscellaneous costs. During the first quarter of 2018, the Company announced that it did not receive the required number of disinterested shareholder votes to approve the proposed acquisition, and the merger agreement was thereafter terminated. (f) Earnings per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share gives effect during the reporting period to all dilutive potential shares outstanding resulting from share-based compensation awards. Diluted earnings per share of common stock is computed similarly to basic earnings per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. J. Alexander’s Holdings, LLC Class B Units are considered common stock equivalents for this purpose. The number of additional shares of common stock related to these common stock equivalents is calculated using the if-converted method, if dilutive. The number of additional shares of common stock related to stock option awards is calculated using the treasury method, if dilutive. Refer to Note 3 – Earnings per Share for the basic and diluted earnings per share calculations and additional discussion. (g) Non-controlling Interests Non-controlling interests presented on the Condensed Consolidated Balance Sheets represent the portion of net assets of the Company attributable to the non-controlling J. Alexander’s Holdings, LLC Class B Unit holders. As of July 1, 2018 and December 31, 2017, the non-controlling interests presented on the Condensed Consolidated Balance Sheets were $7,054 and $5,200, respectively, and consist solely of the non-cash compensation expense relative to the profits interest awards to management and Black Knight. The Hypothetical Liquidation at Book Value method was used as of each of July 1, 2018 and July 2, 2017 to determine allocations of non-controlling interests in respect of vested grants consistent with the terms of the Second Amended and Restated LLC Agreement of J. Alexander’s Holdings, LLC, and pursuant to those calculations, no allocation of net income was made to non-controlling interests for either of the quarters and six-month periods ended July 1, 2018 and July 2, 2017. (h) Use of Estimates Management has made certain estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the unaudited Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the periods presented to prepare these unaudited Condensed Consolidated Financial Statements in conformity with GAAP. Significant items subject to such estimates and assumptions include those related to the accounting for gift card breakage, determination of uncertain tax positions and the valuation allowance relative to deferred tax assets, if any, estimates of useful lives of property and equipment and leasehold improvements, the carrying amount of intangible assets, fair market valuations, determination of lease terms, and accounting for impairment losses, contingencies, and litigation. Actual results could differ from these estimates.

Earnings per Share

Earnings per Share	6 Months Ended
	Jul. 01, 2018
Earnings Per Share [Abstract]
Earnings per Share	Note 3 – Earnings per Share The following table sets forth the computation of basic and diluted earnings per share: Quarter Ended Six Months Ended (Dollars and shares in thousands, except per share amounts) July 1, July 2, July 1, July 2, 2018 2017 2018 2017 Numerator: Income from continuing operations, net of tax $ 2,215 $ 296 $ 3,919 $ 3,093 Loss from discontinued operations, net (110 ) (110 ) (221 ) (223 ) Net income $ 2,105 $ 186 $ 3,698 $ 2,870 Denominator: Weighted average shares (denominator for basic earnings per share) 14,695 14,695 14,695 14,695 Effect of dilutive securities 206 210 174 105 Adjusted weighted average shares and assumed conversions (denominator for diluted earnings per share) 14,901 14,905 14,869 14,800 Basic earnings per share: Income from continuing operations, net of tax $ 0.15 $ 0.02 $ 0.27 $ 0.21 Loss from discontinued operations, net (0.01 ) (0.01 ) (0.02 ) (0.02 ) Basic earnings per share $ 0.14 $ 0.01 $ 0.25 $ 0.20 Diluted earnings per share: Income from continuing operations, net of tax $ 0.15 $ 0.02 $ 0.26 $ 0.21 Loss from discontinued operations, net (0.01 ) (0.01 ) (0.01 ) (0.02 ) Diluted earnings per share $ 0.14 $ 0.01 $ 0.25 $ 0.19 Note: Per share amounts may not sum due to rounding. Basic earnings per share is computed by dividing net income by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share gives effect during the reporting period to all dilutive potential shares outstanding resulting from share-based compensation awards. Diluted earnings per share of common stock is computed similarly to basic earnings per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. The J. Alexander’s Holdings, LLC Class B Units are considered common stock equivalents for this purpose. The number of additional shares of common stock related to these common stock equivalents is calculated using the if-converted method. The 833,346 Class B Units associated with management’s profits interest awards are considered to be antidilutive and, therefore, have been excluded from the diluted earnings per share calculations for the quarters and six-month periods ended July 1, 2018 and July 2, 2017. However, the 1,500,024 Black Knight profits interest Class B Units were considered dilutive as of July 1, 2018, and the impact for the quarter and six-month period then ended on the diluted earnings per share calculation was 136,111 and 139,316 shares, respectively. Further, the Black Knight profits interest Class B Units were considered dilutive for the quarter and six-month period ended July 2, 2017, and the impact on the number of weighted average shares in the diluted earnings per share calculation was 210,309 and 105,155, respectively. The number of additional shares of common stock related to stock option awards is calculated using the treasury method, if dilutive. There were 1,495,750 stock option awards outstanding as of July 1, 2018, and the dilutive impact on the number of weighted average shares in the diluted earnings per share calculation was 69,581 and 34,791 for the quarter and six-month period ended July 1, 2018, respectively. A portion of the stock option awards outstanding as of the quarter ended July 1, 2018 include awards to purchase 510,000 shares of common stock at an exercise price of $9.55 issued on February 21, 2018. These awards were considered antidilutive for the quarter and six-month period ended July 1, 2018, and are excluded from the diluted earnings per share calculation for such reporting periods. Additionally, the 985,750 stock option awards outstanding as of July 2, 2017 were considered antidilutive and, therefore, are excluded from the diluted earnings per share calculation for the quarter and six-month period then ended.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 01, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 – Income Taxes The net effective tax rate (including the impact of discrete items) for the six-month periods ended July 1, 2018 and July 2, 2017 was 3.3% and 17.1%, respectively. The factors that cause the net effective tax rate to vary from the federal statutory rate of 21% for the six-month period ended July 1, 2018 and 35% for the six-month period ended July 2, 2017 include the impact of the Federal Insurance Contribution Act tip and other credits, partially offset by state income taxes and certain non-deductible expenses. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act includes a number of changes to the U.S. tax code, most notably a reduction of the U.S. corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017 and the acceleration of depreciation for certain assets placed into service after September 27, 2017. The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address situations where a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting under ASC Topic 740 for certain income tax effects of the Tax Act for the reporting period of enactment. SAB 118 allows the Company to provide a provisional estimate of the impacts of the Tax Act during a measurement period similar to the measurement period used when accounting for business combinations. Adjustments to provisional estimates and additional impacts from the Tax Act must be recorded as they are identified during the measurement period as provided for in SAB 118. In connection with its initial analysis of the impact of the Tax Act, the Company recorded a provisional net tax benefit of $1,345 in fiscal year 2017 related to the revaluation of the Company's deferred tax assets and liabilities due to the enacted (but not then effective) change in the statutory tax rate. No material adjustments to this amount were recorded in the six-month period ended July 1, 2018.

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jul. 01, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5 – Commitments and Contingencies (a) Contingent Leases As a result of the disposition of the Company’s predecessor’s Wendy’s operations in 1996, subsidiaries of the Company may remain secondarily liable for certain real property leases with remaining terms of one to five years. The total estimated amount of lease payments remaining on these five leases at July 1, 2018 was approximately $466. In connection with the sale of the Company’s predecessor’s Mrs. Winner’s Chicken & Biscuit restaurant operations in 1989 and certain previous dispositions, subsidiaries of the Company also may remain secondarily liable for a certain real property lease. The total estimated amount of lease payments remaining on this lease at July 1, 2018 was approximately $30. Additionally, in connection with the previous disposition of certain other Wendy’s restaurant operations, primarily the southern California restaurants in 1982, subsidiaries of the Company may remain secondarily liable for certain real property leases with remaining terms of one to three years. The total estimated amount of lease payments remaining on these three leases as of July 1, 2018 was approximately $135. There have been no payments by subsidiaries of the Company of such contingent liabilities in the history of the Company. Management does not believe any significant loss is likely. (b) Tax Contingencies The Company and its subsidiaries are subject to real property, personal property, business, franchise, income, withholding, unemployment, sales and use taxes in various jurisdictions within the United States, and are regularly under audit by tax authorities. This is believed to be common for the restaurant industry. Management believes the ultimate disposition of these matters will not have a material adverse effect on the consolidated financial position or results of operations of the Company. (c) Litigation Contingencies The Company and its subsidiaries are defendants from time to time in various claims or legal proceedings arising in the ordinary course of business, including claims relating to workers’ compensation matters, labor-related claims, discrimination and similar matters, claims resulting from guest accidents while visiting a restaurant, claims relating to lease and contractual obligations, federal and state tax matters, and claims from guests or employees alleging illness, injury or other food quality, health or operational concerns, and injury or wrongful death under “dram shop” laws that allow a person to sue the Company based on any injury caused by an intoxicated person who was wrongfully served alcoholic beverages at one of its restaurants. On December 8, 2017, Margie Elstein, a purported shareholder of the Company, filed a putative class action lawsuit in the Tennessee Chancery Court for Davidson County, 20th Judicial District (the “Elstein Action”) against the Company, members of the Board, Fidelity Newport Holdings, LLC (“FNH”), then FNFV and FNF. The Elstein Action alleged that the members of the Board breached their fiduciary duties to shareholders because the directors of the Company and Stephens, Inc. had conflicts of interest related to the Company’s proposed acquisition of 99 Restaurants. The Elstein Action also alleged that the Board and the Company made materially inadequate disclosures and material omissions in its preliminary proxy statement for the acquisition of 99 Restaurants. The Elstein Action further alleged that FNH, then FNFV, and FNF defendants aided and abetted the Board’s purported breach of its fiduciary duties. As discussed in Note 2(e), in the first quarter of 2018, the merger agreement was terminated. During the second quarter of 2018, the Elstein Action was dismissed without prejudice, and no further developments or costs related thereto are anticipated. Management does not believe that any of the legal proceedings pending against the Company as of the date of this report will have a material adverse effect on the Company’s liquidity or consolidated financial condition. The Company may incur liabilities, receive benefits, settle disputes, sustain judgments, or accrue expenses relating to legal proceedings in a particular fiscal year, which may adversely affect its consolidated results of operations, or on occasion, receive settlements that favorably affect its consolidated results of operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jul. 01, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6 – Fair Value Measurements The Company utilizes the following fair value hierarchy, which prioritizes the inputs into valuation techniques used to measure fair value. Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value. The three levels of the hierarchy are as follows: Level 1 Defined as observable inputs such as quoted prices in active markets for identical assets or liabilities. Level 2 Defined as observable inputs other than Level 1 prices. These include quoted prices for similar assets or liabilities in an active market, quoted prices for identical assets or liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. The following tables present the Company’s financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated: July 1, 2018 Level 1 Level 2 Level 3 Cash and cash equivalents * $ 106 $ - $ - U.S. government obligations * 394 - - Corporate bonds * 1,982 - - Cash surrender value - life insurance * - 2,109 - Total $ 2,482 $ 2,109 $ - December 31, 2017 Level 1 Level 2 Level 3 Cash and cash equivalents * $ 212 $ - $ - U.S. government obligations * 397 - - Corporate bonds * 1,841 - - Cash surrender value - life insurance * - 2,106 - Total $ 2,450 $ 2,106 $ - * - As held in the trust as defined below. Cash and cash equivalents are classified as Level 1 of the fair value hierarchy as they represent cash held in a rabbi trust established under a retirement benefit arrangement with certain of our current and former officers (the “Trust”). Cash held in the Trust is invested through an overnight repurchase agreement the investments of which may include U.S. Treasury securities, such as bonds or Treasury bills, and other agencies of the U.S. government. Such investments are valued using quoted market prices in active markets. U.S. government obligations held in the Trust include U.S. Treasury Bonds. These bonds as well as the corporate bonds listed above are classified as Level 1 of the fair value hierarchy given their readily available quoted prices in active markets. Cash surrender value - life insurance is classified as Level 2 in the fair value hierarchy. The value of each policy was determined by MassMutual Financial Group, an A-rated insurance company, which provides the value of these policies to the Company on a regular basis by which the Company adjusts the recorded value accordingly. There were no transfers between the levels listed above during either of the reporting periods. Unrealized gains or losses on investments held in the Trust are presented as a component of “Other, net” on the Condensed Consolidated Statements of Income and Comprehensive Income. As of each of July 1, 2018 and December 31, 2017, the fair value of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities approximated their carrying value due to their short-term nature. The carrying amounts of the long-term debt approximate fair value as interest rates and negotiated terms and conditions are consistent with current market rates because of the close proximity of recent refinancing transactions and the quotes obtained for potential financings to the dates of these unaudited Condensed Consolidated Financial Statements (Level 2). There were no assets and liabilities measured at fair value on a nonrecurring basis during the quarters ended July 1, 2018 and July 2, 2017.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 01, 2018
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 7 – Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU No. 2016-01 , Financial Instruments – Overall: Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The pronouncement requires equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. These changes became effective for the Company’s 2018 fiscal year. The Company adopted this guidance during the first quarter of fiscal year 2018, and it did not have a significant impact on the Company’s unaudited Condensed Consolidated Financial Statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02, Leases Leases, Leases Leases (Topic 842): Targeted Improvements In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other : Simplifying the Test for Goodwill Impairment ( In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU No. 2017-09”), which provides clarity and reduces complexity when an entity has changes to the terms or conditions of a share-based payment award, and when an entity should apply modification accounting. The amendments in ASU No. 2017-09 became effective for financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company adopted this guidance during the first quarter of fiscal year 2018, and it did not have a significant impact on the Company’s unaudited Condensed Consolidated Financial Statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, Compensation—Stock Compensation (Topic 718) (“ASU No. 2018-07”) Compensation - Stock Compensation

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jul. 01, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 8 – Related Party Transactions As discussed in Note 1, on September 28, 2015, immediately prior to the Distribution, J. Alexander’s Holdings, LLC entered into a Management Consulting Agreement with Black Knight, pursuant to which Black Knight provides corporate and strategic advisory services to J. Alexander’s Holdings, LLC. The principal member of Black Knight is William P. Foley, II, Chairman of the board of Cannae and non-Executive Chairman of the board of directors of FNF. The other members of Black Knight consist of Lonnie J. Stout II, our President, Chief Executive Officer and one of our directors, and other officers of Cannae and FNF. Under the Management Consulting Agreement, J. Alexander’s Holdings, LLC has issued Black Knight non-voting Class B Units and is required to pay Black Knight an annual fee equal to 3% of the Company’s Adjusted EBITDA for each fiscal year during the term of the Management Consulting Agreement. J. Alexander’s Holdings, LLC will also reimburse Black Knight for its direct out-of-pocket costs incurred for management services provided to J. Alexander’s Holdings, LLC. Under the Management Consulting Agreement, “Adjusted EBITDA” means the Company’s net income (loss) before interest expense, income tax (expense) benefit, depreciation and amortization, and adding asset impairment charges and restaurant closing costs, loss on disposals of fixed assets, transaction and integration costs, non-cash compensation, loss from discontinued operations, gain on debt extinguishment, pre-opening costs and certain unusual items. The Management Consulting Agreement will continue in effect for an initial term of seven years and be renewed for successive one-year periods thereafter unless earlier terminated (i) by J. Alexander’s Holdings, LLC upon at least six months’ prior notice to Black Knight or (ii) by Black Knight upon 30 days’ prior notice to J. Alexander’s Holdings, LLC. In the event that the Management Consulting Agreement is terminated by J. Alexander’s Holdings, LLC prior to the tenth anniversary thereof, or Black Knight terminates the Management Consulting Agreement within 180 days after a change of control, J. Alexander’s Holdings, LLC will be obligated to pay to Black Knight an early termination payment equal to the product of (i) the annual base fee for the most recent fiscal year and (ii) the difference between ten and the number of years that have elapsed under the Management Consulting Agreement, provided that in the event of such a termination following a change of control event, the multiple of the annual base fee to be paid shall not exceed three. During the quarters ended July 1, 2018 and July 2, 2017, consulting fees of $205 and $174, respectively, were recorded relative to the Black Knight Management Consulting Agreement. During the six-month periods ended July 1, 2018 and July 2, 2017, consulting fees of $449 and $439, respectively, were recorded relative to the aforementioned agreement. Such costs are presented as a component of “General and administrative expenses” on the Condensed Consolidated Statements of Income and Comprehensive Income. The consulting fees associated with fiscal year 2017 and 2016 of approximately $749 and $729, respectively, were paid by the Company during the six-month periods ended July 1, 2018 and July 2, 2017, respectively. As discussed in Note 1, a grant of an additional 1,500,024 Class B Units in J. Alexander’s Holdings, LLC was made to Black Knight on October 6, 2015 in accordance with the terms of the Management Consulting Agreement (the “Black Knight Grant”). The Black Knight Grant has a hurdle rate of approximately $151,052, which was calculated as the product of the number of shares of the Company’s common stock issued and outstanding and $10.07, which represents the volume weighted average of the closing price of the Company’s common stock over the five trading days following the Distribution date of September 28, 2015. The Class B Units granted to Black Knight vest in equal installments on the first, second, and third anniversaries of the grant date, and will be subject to acceleration upon a change in control of the Company or J. Alexander’s Holdings, LLC, the termination of the Management Consulting Agreement by J. Alexander’s Holdings, LLC without cause or the termination of the Management Consulting Agreement by Black Knight as a result of J. Alexander’s Holdings, LLC’s breach of the Management Consulting Agreement. The Black Knight Grant will be measured at fair value at each reporting date through the date of vesting, and will be recognized as a component of continuing income in future financial statements of the Company. The valuation of the Black Knight Grant as of July 1, 2018 was $6,018. Vested Class B Units held by Black Knight may be exchanged for shares of common stock of the Company. However, upon termination of the Management Consulting Agreement for any reason, Black Knight must exchange its Class B Units within 90 days or such units will be forfeited for no consideration. During the quarters ended July 1, 2018 and July 2, 2017, profits interest expense of $(53) and $1,714, respectively, was recorded relative to the Black Knight Grant. During the six-month periods ended July 1, 2018 and July 2, 2017, profits interest expense of $1,854 and $1,676, respectively, was recorded relative to the grant. A benefit was recorded for the second quarter of 2018 as a result of the decrease in the valuation as of the end of the quarter as compared to the prior quarter’s valuation. In accordance with the result of the quarterly valuation, an adjustment is recorded based on the calculated amount of cumulative profits interest expense required to be recognized as determined by the valuation as of quarter end and the profits interest expense previously recorded by the Company in its financial statements. Such benefit or expense is presented as a component of “General and administrative expenses” in the Condensed Consolidated Statements of Income and Comprehensive Income.

Revenue

Revenue	6 Months Ended
	Jul. 01, 2018
Revenue From Contract With Customer [Abstract]
Revenue	Note 9 – Revenue Adoption of ASC Topic 606, Revenue from Contracts with Customers On January 1, 2018, the Company adopted ASC Topic 606 using the cumulative effect method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC Topic 606, while prior period amounts are not adjusted, and continue to be reported in accordance with the Company’s historic accounting policy under ASC Topic 605. The Company’s accounting policies with respect to revenue are discussed in further detail below, including policies implemented prior to and with the adoption of ASC Topic 606. The Company recorded a net increase to opening retained earnings of $34 as of January 1, 2018 due to the cumulative impact of adopting ASC Topic 606, with the impact wholly related to the Company’s accounting for gift card breakage. The impact to net sales for the six-month period ended July 1, 2018 was an increase of $239 as a result of applying ASC Topic 606. Unearned revenue decreased by $273 for the six-month period ended July 1, 2018 as a result of adopting ASC Topic 606. Significant Accounting Policy Restaurant sales are recognized at a point in time when food and service are provided to guests at one of the Company’s restaurants. Unearned revenue, as separately stated on the Company’s Condensed Consolidated Balance Sheets, represents the contract liability for gift cards, which have been sold but not redeemed. Upon redemption, when the guest presents a gift card as a form of payment for food and service provided at the restaurant, net sales are recorded and the contract liability is reduced by the amount of card values redeemed. The Company considers its performance obligations associated with gift cards sold to guests to be met when food and service have been provided to its guests, and a gift card is presented as a form of payment. The amount of gift card revenue that was previously deferred is recognized based on the selling price of the menu items at each restaurant. Prior to the adoption of ASC Topic 606, the Company recorded gift card breakage when such cards were considered to be only remotely likely to be redeemed, and for which there is no legal obligation to remit balances under unclaimed property laws of the relevant jurisdictions. Management considered the probability of redemption of a gift card to be remote when it had been outstanding for 24 months. With the adoption of ASC Topic 606 as of January 1, 2018, the Company began analyzing gift card breakage based upon company-specific historical redemption patterns, and gift card breakage is now recognized as revenue in proportion to guest redemptions. The Company’s gift cards continue to have no expiration date, and it does not deduct non-usage fees from gift card outstanding balances. In applying the guidance under this topic, management estimates the percentage of the value of gift cards sold that will go unused by the purchaser of such card, which is a matter of judgement, and, as noted above, recognizes revenue in proportion to actual gift card redemptions during the reporting period, at which time management believes the underlying performance obligations have been satisfied by the Company. Gift card breakage is recorded on a quarterly basis in conjunction with the Company’s preparation of its financial statements and related disclosures, and is presented as a component of “Net sales” within the Condensed Consolidated Statements of Income and Comprehensive Income. The Company’s net sales and net income have historically been subject to seasonal fluctuations. Net sales and operating income typically reach their highest levels during the fourth quarter of the fiscal year due to holiday business and the first quarter of the fiscal year due in part to the redemption of gift cards sold during the holiday season. The contract liability relative to gift cards and the recognition of revenue associated with such form of payment is impacted accordingly. The Company’s unearned revenue balance has historically decreased throughout the course of the fiscal year until the fourth quarter when an increase in the balance is typically experienced given the seasonality of gift card sales. Disaggregation and Recognition of Revenue The following table presents the Company’s revenues disaggregated by revenue source for the periods presented: Quarter Ended Six Months Ended July 1, July 2, July 1, July 2, 2018 2017 2018 2017 Restaurant $ 60,363 $ 58,186 $ 122,045 $ 118,020 Gift Card Breakage 57 30 284 18 Net Sales $ 60,420 $ 58,216 $ 122,329 $ 118,038 The Company recognized revenue associated with gift cards redeemed by guests during the quarters ended July 1, 2018 and July 2, 2017 of $890 and $850, respectively, and $2,279 and $2,191 for the six-month periods ended July 1, 2018 and July 2, 2017, respectively. Further, of the amount that was redeemed during the first half of 2018, $1,719 was recorded within unearned revenue at the beginning of the fiscal year. Unearned revenue increased by $1,275 as a result of gift cards sold during the first half of 2018.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jul. 01, 2018
Accounting Policies [Abstract]
Interim Financial Statements	(a) Interim Financial Statements The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and rules of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnote disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the quarter and six-month period ended July 1, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending December 30, 2018. For further information, refer to the Consolidated Financial Statements and footnotes thereto for the fiscal year ended December 31, 2017 included in the Annual Report on Form 10-K of the Company filed with the SEC on March 15, 2018. Total comprehensive income is comprised solely of net income for all periods presented.
Principles of Consolidation	(b) Principles of Consolidation The unaudited Condensed Consolidated Financial Statements include the accounts of the Company as well as the accounts of its majority-owned subsidiaries. All intercompany profits, transactions, and balances between the Company and its subsidiaries have been eliminated. It is the Company’s policy to reclassify prior year amounts to conform to the current year’s presentation for comparative purposes, if such a reclassification is warranted. As discussed in Note 1, as a result of the Distribution, certain reorganization changes were made resulting in the Company owning all of the outstanding Class A Units and becoming the sole managing member of J. Alexander’s Holdings, LLC. The reorganization transactions were accounted for as a non-substantive transaction in a manner similar to a transaction between entities under common control pursuant to Accounting Standards Codification (“ASC”) 805-50, Transactions between Entities under Common Control
Fiscal Year	(c) Fiscal Year The Company’s fiscal year ends on the Sunday closest to December 31, and each quarter typically consists of 13 weeks. The quarters and six-month periods ended July 1, 2018 and July 2, 2017 each included 13 and 26 weeks of operations, respectively. Fiscal years 2018 and 2017 each include 52 weeks of operations.
Discontinued Operations and Restaurant Closures	(d) Discontinued Operations and Restaurant Closures During 2013, three J. Alexander’s restaurants were closed, and two of these restaurants were considered to be discontinued operations. Additionally, the Company closed one J. Alexander’s location during the first quarter of 2017 as the restaurant’s lease had reached the end of its term. Since the closure of this restaurant did not represent a strategic shift that would have a major effect on the Company’s operations and financial results, its results of operations and expenses associated with its closure were not included in discontinued operations. Income from continuing operations before income taxes associated with this location was $35 for the six-month period ended July 2, 2017. The $110 loss from discontinued operations included in the quarters ended July 1, 2018 and July 2, 2017, respectively, and losses for the six-month periods ended July 1, 2018 and July 2, 2017 of $221 and $223, respectively, consist solely of exit and disposal costs which are primarily related to a continuing obligation under a lease agreement for one of these closed locations.
Transaction Expenses	(e) Transaction Expenses The Company incurred transaction expenses associated primarily with the proposed acquisition of the Ninety Nine Restaurant and Pub concept (“99 Restaurants”) totaling $7 and $933 for the quarter and six-month period ended July 1, 2018, respectively. Additionally, for the quarter and six-month period ended July 2, 2017, the Company incurred a total of $460 related to this proposed acquisition. Such costs consisted primarily of legal, and other professional and consulting fees as well as other miscellaneous costs. During the first quarter of 2018, the Company announced that it did not receive the required number of disinterested shareholder votes to approve the proposed acquisition, and the merger agreement was thereafter terminated.
Earnings per Share	(f) Earnings per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share gives effect during the reporting period to all dilutive potential shares outstanding resulting from share-based compensation awards. Diluted earnings per share of common stock is computed similarly to basic earnings per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents, if dilutive. J. Alexander’s Holdings, LLC Class B Units are considered common stock equivalents for this purpose. The number of additional shares of common stock related to these common stock equivalents is calculated using the if-converted method, if dilutive. The number of additional shares of common stock related to stock option awards is calculated using the treasury method, if dilutive. Refer to Note 3 – Earnings per Share for the basic and diluted earnings per share calculations and additional discussion.
Non-controlling Interests	(g) Non-controlling Interests Non-controlling interests presented on the Condensed Consolidated Balance Sheets represent the portion of net assets of the Company attributable to the non-controlling J. Alexander’s Holdings, LLC Class B Unit holders. As of July 1, 2018 and December 31, 2017, the non-controlling interests presented on the Condensed Consolidated Balance Sheets were $7,054 and $5,200, respectively, and consist solely of the non-cash compensation expense relative to the profits interest awards to management and Black Knight. The Hypothetical Liquidation at Book Value method was used as of each of July 1, 2018 and July 2, 2017 to determine allocations of non-controlling interests in respect of vested grants consistent with the terms of the Second Amended and Restated LLC Agreement of J. Alexander’s Holdings, LLC, and pursuant to those calculations, no allocation of net income was made to non-controlling interests for either of the quarters and six-month periods ended July 1, 2018 and July 2, 2017.
Use of Estimates	(h) Use of Estimates Management has made certain estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the unaudited Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the periods presented to prepare these unaudited Condensed Consolidated Financial Statements in conformity with GAAP. Significant items subject to such estimates and assumptions include those related to the accounting for gift card breakage, determination of uncertain tax positions and the valuation allowance relative to deferred tax assets, if any, estimates of useful lives of property and equipment and leasehold improvements, the carrying amount of intangible assets, fair market valuations, determination of lease terms, and accounting for impairment losses, contingencies, and litigation. Actual results could differ from these estimates.

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jul. 01, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Share	The following table sets forth the computation of basic and diluted earnings per share: Quarter Ended Six Months Ended (Dollars and shares in thousands, except per share amounts) July 1, July 2, July 1, July 2, 2018 2017 2018 2017 Numerator: Income from continuing operations, net of tax $ 2,215 $ 296 $ 3,919 $ 3,093 Loss from discontinued operations, net (110 ) (110 ) (221 ) (223 ) Net income $ 2,105 $ 186 $ 3,698 $ 2,870 Denominator: Weighted average shares (denominator for basic earnings per share) 14,695 14,695 14,695 14,695 Effect of dilutive securities 206 210 174 105 Adjusted weighted average shares and assumed conversions (denominator for diluted earnings per share) 14,901 14,905 14,869 14,800 Basic earnings per share: Income from continuing operations, net of tax $ 0.15 $ 0.02 $ 0.27 $ 0.21 Loss from discontinued operations, net (0.01 ) (0.01 ) (0.02 ) (0.02 ) Basic earnings per share $ 0.14 $ 0.01 $ 0.25 $ 0.20 Diluted earnings per share: Income from continuing operations, net of tax $ 0.15 $ 0.02 $ 0.26 $ 0.21 Loss from discontinued operations, net (0.01 ) (0.01 ) (0.01 ) (0.02 ) Diluted earnings per share $ 0.14 $ 0.01 $ 0.25 $ 0.19 Note: Per share amounts may not sum due to rounding.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 01, 2018
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the Company’s financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated: July 1, 2018 Level 1 Level 2 Level 3 Cash and cash equivalents * $ 106 $ - $ - U.S. government obligations * 394 - - Corporate bonds * 1,982 - - Cash surrender value - life insurance * - 2,109 - Total $ 2,482 $ 2,109 $ - December 31, 2017 Level 1 Level 2 Level 3 Cash and cash equivalents * $ 212 $ - $ - U.S. government obligations * 397 - - Corporate bonds * 1,841 - - Cash surrender value - life insurance * - 2,106 - Total $ 2,450 $ 2,106 $ - * - As held in the trust as defined below.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jul. 01, 2018
Disaggregation Of Revenue [Abstract]
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by revenue source for the periods presented: Quarter Ended Six Months Ended July 1, July 2, July 1, July 2, 2018 2017 2018 2017 Restaurant $ 60,363 $ 58,186 $ 122,045 $ 118,020 Gift Card Breakage 57 30 284 18 Net Sales $ 60,420 $ 58,216 $ 122,329 $ 118,038

Organization and Business - Add

Organization and Business - Additional Information (Details) $ / shares in Units, $ in Thousands	Jul. 01, 2018USD ($)RestaurantOperatingplace$ / sharesshares	Oct. 29, 2015shares	Sep. 22, 2015shares	Jul. 01, 2018RestaurantOperatingplace$ / sharesshares	Dec. 31, 2017RestaurantOperatingplace$ / sharesshares	Oct. 06, 2015shares	Sep. 28, 2015	Jan. 01, 2015shares
Organization And Business [Line Items]
Date of incorporation				Aug. 15, 2014
Common stock, shares outstanding	14,695,176			14,695,176	14,695,176
Common stock, par value | $ / shares	$ 0.001			$ 0.001	$ 0.001
Period to repurchase common stock		3 years
Stock repurchase program, shares repurchased	305,059
Purchased price of shares | $	$ 3,203
Stock Repurchase Program Expiration Date				Oct. 29, 2018
Number of restaurants | Restaurant	45			45	44
Number of states in entity operates | Operatingplace	16			16	15
Maximum
Organization And Business [Line Items]
Stock repurchase program, shares authorized		1,500,000
Common Class A Units
Organization And Business [Line Items]
Common unit, outstanding			15,000,235
Common Class B Units | 2015 Management Incentive Plan
Organization And Business [Line Items]
Common unit, outstanding								833,346
FNF
Organization And Business [Line Items]
Spin-off shares distributed percentage							100.00%
FNFV
Organization And Business [Line Items]
Spin-off shares distributed for every one share of FNFV			0.17271
Black Knight Advisory Services, LLC | Common Class B Units
Organization And Business [Line Items]
Common unit, outstanding						1,500,024

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) $ in Thousands	Dec. 29, 2013Restaurant	Jul. 01, 2018USD ($)	Jul. 02, 2017USD ($)	Apr. 02, 2017Restaurant	Jul. 01, 2018USD ($)	Jul. 02, 2017USD ($)	Dec. 31, 2017USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of restaurants closed | Restaurant	3			1
Loss from discontinued operations, net		$ (110)	$ (110)		$ (221)	$ (223)
Income from continuing operations before income taxes for restaurant closed during the period						35
Non-controlling interests		7,054			7,054		$ 5,200
Allocation of Net Income
Summary Of Significant Accounting Policies [Line Items]
Non-controlling interests		0	0		0	0
Ninety Nine Restaurant & Pub
Summary Of Significant Accounting Policies [Line Items]
Transaction costs associated with proposed acquisition		7	460		933	460
Discontinued Operations
Summary Of Significant Accounting Policies [Line Items]
Loss from discontinued operations, net		$ (110)	$ (110)		$ (221)	$ (223)

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Numerator:
Income from continuing operations, net of tax	$ 2,215	$ 296	$ 3,919	$ 3,093
Loss from discontinued operations, net	(110)	(110)	(221)	(223)
Net income	$ 2,105	$ 186	$ 3,698	$ 2,870
Denominator:
Weighted average shares (denominator for basic earnings per share)	14,695	14,695	14,695	14,695
Effect of dilutive securities	206	210	174	105
Adjusted weighted average shares and assumed conversions (denominator for diluted earnings per share)	14,901	14,905	14,869	14,800
Basic earnings per share:
Income (loss) from continuing operations, net of tax	$ 0.15	$ 0.02	$ 0.27	$ 0.21
Loss from discontinued operations, net	(0.01)	(0.01)	(0.02)	(0.02)
Basic earnings per share	0.14	0.01	0.25	0.20
Diluted earnings per share:
Income (loss) from continuing operations, net of tax	0.15	0.02	0.26	0.21
Loss from discontinued operations, net	(0.01)	(0.01)	(0.01)	(0.02)
Diluted earnings per share	$ 0.14	$ 0.01	$ 0.25	$ 0.19

Earnings per Share - Additional

Earnings per Share - Additional Information (Details) - $ / shares	Jul. 01, 2018	Feb. 21, 2018	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Stock Option Awards
Antidilutive Securities Excluded From And Dilutive Securities Included In Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share				985,750		985,750
Dilutive shares included in computation of earnings per share			69,581		34,791
Number of stock option awards outstanding	1,495,750		1,495,750		1,495,750
Stock options granted		510,000
Weighted average exercise price, issued		$ 9.55
Management | Class B Units
Antidilutive Securities Excluded From And Dilutive Securities Included In Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share			833,346	833,346	833,346	833,346
Black Knight Advisory Services, LLC | Class B Units
Antidilutive Securities Excluded From And Dilutive Securities Included In Computation Of Earnings Per Share [Line Items]
Dilutive shares included in computation of earnings per share	1,500,024		136,111	210,309	139,316	105,155

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net effective tax rate	3.30%	17.10%
Federal statutory rate	21.00%	35.00%
Tax Cuts and Jobs Act of 2017, Income Tax Expense (Benefit)			$ (1,345)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2018USD ($)Lease
Commitments And Contingencies [Line Items]
Payments made to date relative to contingent leases	$ 0
Wendy Operations [Member]
Commitments And Contingencies [Line Items]
Number of secondarily liable leases | Lease	5
Estimated amount of secondarily liable lease payments due	$ 466
Wendy Operations [Member] | Minimum [Member]
Commitments And Contingencies [Line Items]
Remaining lease term	1 year
Wendy Operations [Member] | Maximum
Commitments And Contingencies [Line Items]
Remaining lease term	5 years
Winner Chicken and Biscuit Restaurant Operations [Member]
Commitments And Contingencies [Line Items]
Number of secondarily liable leases | Lease	1
Estimated amount of secondarily liable lease payments due	$ 30
Wendy's Southern California Restaurants [Member]
Commitments And Contingencies [Line Items]
Number of secondarily liable leases | Lease	3
Estimated amount of secondarily liable lease payments due	$ 135
Wendy's Southern California Restaurants [Member] | Minimum [Member]
Commitments And Contingencies [Line Items]
Remaining lease term	1 year
Wendy's Southern California Restaurants [Member] | Maximum
Commitments And Contingencies [Line Items]
Remaining lease term	3 years

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Jul. 01, 2018	Dec. 31, 2017
Level 1
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	$ 2,482	$ 2,450
Level 1 | Cash and Cash Equivalents (as Held in the Trust)
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	106	212
Level 1 | Corporate Bonds (as Held in the Trust)
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	1,982	1,841
Level 1 | U.S. Government Obligations (as Held in the Trust)
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	394	397
Level 2
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	2,109	2,106
Level 2 | Cash Surrender Value - Life Insurance (as Held in the Trust)
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets held in trust	$ 2,109	$ 2,106

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - Fair Value Measurements Nonrecurring - USD ($)	Jul. 01, 2018	Jul. 02, 2017
Schedule Of Assets Used To Fund The Trust [Line Items]
Assets, measured at fair value on a nonrecurring basis	$ 0	$ 0
Liabilities, measured at fair value on a nonrecurring basis	$ 0	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - Black Knight Advisory Services, LLC - USD ($) $ / shares in Units, $ in Thousands	Oct. 06, 2015	Oct. 03, 2015	Sep. 28, 2015	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017	Dec. 31, 2017	Jan. 01, 2017
Related Party Transaction [Line Items]
Annual fee as percentage of EBITDA				3.00%		3.00%
Management consulting agreement, initial term						7 years
Management consulting agreement, renew period						1 year
Maximum term of management consulting agreement						tenth anniversary
Common Class B Units
Related Party Transaction [Line Items]
Common unit, granted	1,500,024
Profits interest grant hurdle rate	$ 151,052
Weighted average closing price	$ 10.07
Common stock trading period		5 days
Membership unit distribution date	Oct. 6, 2015
Management consulting agreement date						Sep. 28, 2015
Estimated valuation of grant						$ 6,018
General and Administrative Expenses
Related Party Transaction [Line Items]
Black Knight annual consulting expense				$ 205	$ 174	449	$ 439	$ 749	$ 729
Profits interest expense				$ (53)	$ 1,714	$ 1,854	$ 1,676
Minimum [Member]
Related Party Transaction [Line Items]
Management consulting agreement, earlier termination, prior notice period management			6 months
Management consulting agreement, earlier termination, prior notice period			30 days
Maximum
Related Party Transaction [Line Items]
Management consulting agreement, termination period after a change of control			180 days
Maximum | Common Class B Units
Related Party Transaction [Line Items]
Exchange period upon termination of management consulting agreement			90 days

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017	Jan. 01, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Gift card redemptions during the period	$ 890	$ 850	$ 2,279	$ 2,191
Current period gift card redemptions from the unearned revenue balance during the period			1,719
Gift cards sold during the period			1,275
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Increase to operating retained earnings due to cumulative effect adjustment					$ 34
Increase in revenue recognized during the period due to adoption			239
Decrease in unearned revenue during the period due to adoption			$ 273

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2018	Jul. 02, 2017	Jul. 01, 2018	Jul. 02, 2017
Disaggregation Of Revenue [Line Items]
Net sales	$ 60,420	$ 58,216	$ 122,329	$ 118,038
Gift Card Breakage	57	30	284	18
Restaurant [Member]
Disaggregation Of Revenue [Line Items]
Net sales	$ 60,363	$ 58,186	$ 122,045	$ 118,020