Habit Restaurants 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 29, 2016	May. 02, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 29, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	HABT
Entity Registrant Name	Habit Restaurants, Inc.
Entity Central Index Key	1,617,977
Current Fiscal Year End Date	--12-27
Entity Filer Category	Accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,851,088
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,158,219

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 29, 2016	Dec. 29, 2015
Current assets
Cash and cash equivalents	$ 50,154	$ 46,991
Accounts receivable	4,485	4,372
Inventory	1,104	1,123
Prepaid expenses and other current assets	1,988	1,458
Total current assets	57,731	53,944
Property and equipment, net	85,015	81,524
Tradenames	12,500	12,500
Goodwill	9,967	9,967
Deposits and other assets, net	2,556	2,387
Deferred tax assets	101,801	96,389
Total long-term assets	211,839	202,767
Total assets	269,570	256,711
Current liabilities
Accounts payable	9,239	8,885
Employee-related accruals	6,524	5,082
Accrued expenses	4,154	5,119
Income tax payable	167	167
Amounts payable to related parties under Tax Receivable Agreement, current portion	2,014	2,004
Sales taxes payable	2,375	2,044
Deferred rent, current portion	791	609
Deferred franchise income, current portion	295	235
Total current liabilities	25,559	24,145
Deferred rent, net of current portion	12,168	11,872
Deemed landlord financing	3,853	2,436
Deferred franchise income, net of current portion	720	730
Amounts payable to related parties under Tax Receivable Agreement, net of current portion	92,225	85,596
Total liabilities	$ 134,525	$ 124,779
Commitments and contingencies
Stockholders’ equity
Additional paid-in capital	$ 75,688	$ 72,841
Retained earnings	4,118	2,737
The Habit Restaurants, Inc. stockholders’ equity	80,066	75,838
Non-controlling interests	54,979	56,094
Total stockholders’ equity	135,045	131,932
Total liabilities and stockholders’ equity	269,570	256,711
Class A Common Stock [Member]
Stockholders’ equity
Common stock value	144	138
Total stockholders’ equity	144	138
Class B Common Stock [Member]
Stockholders’ equity
Common stock value	116	122
Total stockholders’ equity	$ 116	$ 122

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 29, 2016	Dec. 29, 2015
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	70,000,000	70,000,000
Common stock, shares issued	14,373,183	13,759,754
Common stock, shares outstanding	14,373,183	13,759,754
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	70,000,000	70,000,000
Common stock, shares issued	11,627,041	12,241,482
Common stock, shares outstanding	11,627,041	12,241,482

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015
Revenue	$ 66,957	$ 54,583
Restaurant operating costs (excluding depreciation and amortization)
Food and paper cost	20,101	17,869
Labor and related expenses	21,421	16,425
Occupancy and other operating expenses	10,488	7,996
General and administrative expenses	6,709	5,205
Offering related expenses		483
Depreciation and amortization expense	3,412	2,667
Pre-opening costs	260	323
Loss on disposal of assets	39	13
Total operating expenses	62,430	50,981
Income from operations	4,527	3,602
Other expenses
Interest expense, net	127	117
Income before income taxes	4,400	3,485
Provision for income taxes	1,005	519
Net income	3,395	2,966
Less: net income attributable to non-controlling interests	(2,014)	(2,283)
Net income attributable to The Habit Restaurants, Inc.	$ 1,381	$ 683
Class A Common Stock [Member]
Net income attributable to The Habit Restaurants, Inc. per share Class A common stock:
Basic	$ 0.10	$ 0.08
Diluted	$ 0.10	$ 0.08
Weighted average shares of Class A common stock outstanding:
Basic	14,049,710	8,974,550
Diluted	14,050,990	8,979,230

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes In Stockholders Equity (Unaudited) - 3 months ended Mar. 29, 2016 - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Stockholders' equity at Dec. 29, 2015	$ 131,932	$ 138	$ 122	$ 72,841	$ 2,737	$ 56,094
Stockholders' equity, Shares at Dec. 29, 2015		13,759,754	12,241,482
Net income	3,395				1,381	2,014
Deferred tax assets	(221)			(221)
Tax distributions	(375)					(375)
Other distributions	(32)					(32)
Exchanges		$ 6	$ (6)
Exchanges, Shares		613,429	(613,429)
Non-controlling interests adjustment				3,057		(3,057)
Forfeiture of Class B common stock			(1,012)
Stock-based compensation	346			11		335
Stockholders' equity at Mar. 29, 2016	$ 135,045	$ 144	$ 116	$ 75,688	$ 4,118	$ 54,979
Stockholders' equity , Shares at Mar. 29, 2016		14,373,183	11,627,041

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 3,395	$ 2,966
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	3,412	2,667
Amortization of financing fees	10	10
Stock-based compensation	346	213
Loss on disposal of assets	39	13
Deferred income taxes	1,005	519
Deferred rent	(87)	(13)
Changes in assets and liabilities:
Accounts receivable	448	781
Inventory	19	79
Prepaid expenses	(531)	(1,389)
Deposits and other assets	(179)	(261)
Accounts payable	(76)	1,107
Employee-related accruals	1,442	1,387
Accrued expenses	223	62
Income taxes payable		(30)
Sales taxes payable	332	317
Net cash provided by operating activities	9,798	8,428
Cash flows from investing activities:
Purchase of property and equipment	(6,213)	(3,927)
Net cash used in investing activities	(6,213)	(3,927)
Cash flows from financing activities:
Tax distributions to LLC members	(375)	(308)
Other distributions to LLC members	(32)	(36)
Payments on deemed landlord financing	(15)	(9)
Net cash used in financing activities	(422)	(353)
Net change in cash and cash equivalents	3,163	4,148
Cash and cash equivalents, beginning of period	46,991	49,469
Cash and cash equivalents, end of period	50,154	53,617
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest	22	19
Cash paid for income taxes		30
NON-CASH FINANCING
Deemed landlord financing	1,433
Unpaid purchase of property and equipment	$ 1,202	$ 1,005

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 29, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Note 1—Nature of Operations and Basis of Presentation The condensed consolidated financial statements of The Habit Restaurants, Inc. include the accounts of The Habit Restaurants, LLC and its wholly-owned subsidiary (collectively the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. The Habit Restaurants, Inc. was formed as a Delaware corporation on July 24, 2014, as a holding company for the purposes of facilitating an initial public offering (the “IPO”) of shares of Class A common stock. The Company acquired, by merger, entities that were members of The Habit Restaurants, LLC. The Company accounted for the merger as a non-substantive transaction in a manner similar to a transaction between entities under common control pursuant to Accounting Standards Codification (“ASC”) ASC 805-50 Transactions between Entities under Common Control In November 2014, the Company completed its initial public offering of 5,750,000 shares of Class A common stock, for net proceeds of $92.3 million. In April 2015, the Company completed a follow-on offering of 5,750,000 shares of Class A common stock at a price of $30.96 per share. As part of the follow-on offering, 4,785,204 common units in The Habit Restaurants, LLC (“LLC Units”), were exchanged (and a corresponding number of shares of Class B common stock were cancelled) for shares of Class A common stock that were then sold on the open market. All of the shares in the follow-on offering were offered by selling stockholders, the Company did not receive any proceeds from the offering. The selling stockholders received net proceeds of approximately $170.9 million, after deducting underwriting discounts and commissions. The Company bore the costs, other than underwriting and commissions, associated with the sale of shares by the selling stockholders. Upon completion of this follow-on offering: · the public shareholders collectively owned 11,500,000 shares of our Class A common stock and collectively had 44.2% of the voting power in The Habit Restaurants, Inc.; · the existing owners of The Habit Restaurants, LLC (the “Continuing LLC Owners”) collectively held 12,243,000 LLC Units in The Habit Restaurants, LLC, representing 47.1% of the economic interest in The Habit Restaurants, LLC; · one or more historic investors collectively held 8.7% voting power in The Habit Restaurants, Inc.; · affiliates of KarpReilly, LLC (“KarpReilly”), beneficially owned approximately 16.4% of our outstanding Class A common stock and 62.8% of our outstanding Class B common stock, which aggregated to 38.2% of our voting power. Upon the completion of the follow-on offering, because affiliates of KarpReilly collectively owned less than 50% of the total voting power of the Company’s common stock, the Company was no longer a “controlled company” within the meaning of the Nasdaq listing standards; and · The Habit Restaurants, Inc. directly or indirectly held 13,759,754 LLC Units, representing 52.9% of the economic interest in The Habit Restaurants, LLC, and exercises exclusive control over The Habit Restaurants, LLC, as its sole managing member. During the quarter ended March 29, 2016, 613,429 LLC Units were exchanged by the Continuing LLC Owners, and a corresponding number of shares of Class B common stock were then cancelled in connection with such exchanges, for shares of Class A common stock. As a result of these exchanges, as of March 29, 2016, The Habit Restaurants, Inc. directly or indirectly held 14,373,183 LLC Units, representing a 55.3% economic interest in The Habit Restaurants, LLC, and continues to exercise exclusive control over the Habit Restaurants, LLC, as its sole managing member. In connection with the recapitalization and the Company’s IPO, The Habit Restaurants, LLC limited liability company agreement (the “LLC Agreement”) was amended and restated to, among other things, create a single new class of non-voting LLC Units. The existing owners of The Habit Restaurants, LLC continue to hold LLC Units, and such existing owners (other than The Habit Restaurants, Inc. and its wholly-owned subsidiary) were issued a number of shares of our Class B common stock equal to the number of LLC Units held by them. These LLC Units continue to be subject to any vesting, forfeiture, repurchase or similar provisions pursuant to the Pre-IPO agreement. Each share of Class B common stock provides its holder with no economic rights but entitles the holder to one vote on matters presented to The Habit Restaurants, Inc.’s stockholders. Holders of Class A common stock and Class B common stock generally vote together as a single class on all matters presented to our stockholders for their vote or approval, except as otherwise required by applicable law. The Class B common stock is not publicly traded and does not entitle its holders to receive dividends or distributions upon a liquidation, dissolution or winding up of The Habit Restaurants, Inc. As the sole managing member of The Habit Restaurants, LLC, the Company has the right to determine when distributions will be made to the unit holders of The Habit Restaurants, LLC, and the amount of any such distributions (in each case subject to the requirements with respect to the tax distributions described below). If The Habit Restaurants, Inc. authorizes a distribution, such distribution will be made to the unit holders of The Habit Restaurants, LLC, including The Habit Restaurants, Inc., pro rata in accordance with their respective ownership of the LLC Units (other than, for clarity, certain non-pro rata distributions to the Company to satisfy certain of the Company’s obligations). Notwithstanding the foregoing, The Habit Restaurants, LLC bears the cost of or reimburses The Habit Restaurants, Inc. for certain expenses incurred by The Habit Restaurants, Inc. The Company also entered into a tax receivable agreement (“TRA”). The Habit Restaurants, LLC is treated by its members as a partnership for federal and applicable state income tax purposes and, as such, generally is not expected to be subject to income tax (except that it may be required to withhold and remit tax as a withholding agent). Instead, taxable income is allocated to holders of LLC Units, including the Company. Accordingly, the Company incurs income taxes on its allocable share of any net taxable income of The Habit Restaurants, LLC and also incurs expenses related to its operations. Pursuant to the LLC Agreement, The Habit Restaurants, LLC is required to make tax distributions to the holders of LLC Units, except that The Habit Restaurants, LLC’s ability to make such distributions may be subject to various limitations and restrictions, including the operating results of its subsidiaries, its cash requirements and financial condition, the applicable provisions of Delaware law that may limit the amount of funds available for distribution to its members, compliance by The Habit Restaurants, LLC and its subsidiary with restrictions, covenants and financial ratios related to existing or future indebtedness, and other agreements entered into by The Habit Restaurants, LLC or its subsidiary with third parties. In addition to tax expenses, The Habit Restaurants, Inc. incurs expenses related to its operations, plus payments under the TRA, which the Company expects will be significant. The Company intends to cause The Habit Restaurants, LLC to make distributions or, in the case of certain expenses, payments in an amount sufficient to allow The Habit Restaurants, Inc. to pay its taxes and operating expenses, including distributions to fund any ordinary course payments due under the TRA. Under the terms of the Company’s LLC Agreement, no member shall be obligated personally for any debt, obligation, or liability of the Company. The Company is headquartered in Irvine, California, and, as of March 29, 2016, managed and operated 140 fast casual restaurants as “The Habit Burger Grill” in California, Arizona, Utah, New Jersey, Florida, Idaho and Virginia. The restaurant’s menu includes charbroiled hamburgers, specialty sandwiches, fresh salads, and shakes and malts. Additionally, with the formation of its wholly-owned subsidiary in February 2013, HBG Franchise, LLC (“Franchise”), the Company began franchising its restaurant concept. Franchise was organized as a Delaware limited liability company and its future operations are dependent upon the success of the Company’s restaurant concept. The Company has entered into three licensing and three franchise agreements through March 29, 2016. The Company had three licensed locations and two franchised locations as of March 29, 2016. The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States (“GAAP”) for complete financial statements. It is the Company’s opinion that all adjustments considered necessary for the fair presentation of its results of operations, financial position, and cash flows for the periods presented have been included and are of a normal, recurring nature. The results of operations for interim periods are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 29, 2015, included in the Company’s annual report on Form 10-K. The Company uses a 52 or 53-week fiscal year ending on the last Tuesday of the calendar year. In a 52-week fiscal year, each quarter includes 13 weeks of operations. In a 53-week fiscal year, the first, second and third quarters each include 13 weeks of operations and the fourth quarter includes 14 weeks of operations. Fiscal year 2015, which ended on December 29, 2015, was a 52-week fiscal year. Fiscal year 2016, which will end on December 27, 2016, is also a 52-week fiscal year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 29, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Use of estimates —The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Concentration of credit risk —Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. At March 29, 2016 and December 29, 2015, the Company maintained approximately $15 million and $11 million, respectively, of its day-to-day operating cash balances with a major financial institution. The remaining $35 million and $36 million at March 29, 2016 and December 29, 2015, respectively, was invested with a major financial institution and consisted entirely of U.S. Treasury instruments with a maturity of three months or less at the date of purchase. At March 29, 2016 and December 29, 2015 and at various times during the periods then ended, cash and cash equivalents balances were in excess of Federal Depository Insurance Corporation insured limits. While the Company monitors the cash balances in its operating accounts on a daily basis and adjusts the cash balances as appropriate, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. Fair value measurements —The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and all other current liabilities approximate fair values due to the short maturities of these instruments. Income taxes —The Company records a tax provision for the anticipated tax consequences of the reported results of operations. The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company may record a valuation allowance, if conditions are applicable, to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Non-controlling interests —The non-controlling interests on the condensed consolidated statements of income represents the portion of earnings or loss attributable to the economic interest in the Company’s subsidiary, The Habit Restaurants, LLC, held by the non-controlling Continuing LLC Unit holders. Non-controlling interests on the condensed consolidated balance sheet represents the portion of net assets of the Company attributable to the non-controlling Continuing LLC Unit holders, based on the portion of the LLC Units owned by such unit holders. As of March 29, 2016 the non-controlling interest was 44.7%. Earnings per Share —Basic earnings per share (“basic EPS”) is computed by dividing net income attributable to The Habit Restaurants, Inc. by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect during the reporting period to all dilutive potential shares outstanding resulting from employee stock-based awards. The following table sets forth the calculation of basic and diluted earnings per share for the 13 week periods ended March 29, 2016 and March 31, 2015: 13 Weeks Ended March 29, March 31, (amounts in thousands, except share and per share data) 2016 2015 Numerator: Net income attributable to controlling and non-controlling interests $ 3,395 $ 2,966 Less: net income attributable to non-controlling interests $ (2,014 ) $ (2,283 ) Net income attributable to The Habit Restaurants, Inc. $ 1,381 $ 683 Denominator: Weighted average shares of Class A common stock outstanding Basic 14,049,710 8,974,550 Diluted 14,050,990 8,979,230 Net income attributable to The Habit Restaurants, Inc. per share Class A common stock Basic $ 0.10 $ 0.08 Diluted $ 0.10 $ 0.08 Below is a reconciliation of basic and diluted share counts Basic 14,049,710 8,974,550 Dilutive effect of stock options 1,280 4,680 Diluted 14,050,990 8,979,230 The Company’s Class B common stock represent voting interests and do not participate in the earnings of the Company. Accordingly, there is no earnings per share related to the Company’s Class B common stock. Diluted earnings per share of Class A 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 using the treasury method, if dilutive. The Company’s LLC Units are considered common stock equivalents for this purpose. The number of additional shares of Class A common stock related to these common stock equivalents is calculated using the if-converted method. The potential impact of the exchange of the 11,627,041 LLC Units on the diluted EPS had no impact and were therefore excluded from the calculation. As of March 29, 2016, there were 2,525,275 options authorized under our 2014 Omnibus Incentive Plan of which 637,111 and 16,666 had been granted as of March 29, 2016 and March 31, 2015, respectively. The number of dilutive shares of Class A common stock related to these options was calculated using the treasury stock method and any anti-dilutive shares from this calculation have been excluded from the diluted EPS. Recent Accounting Pronouncements — In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. This update will be effective for the Company in fiscal year 2017, but early adoption is permitted. The Company is currently evaluating the effect of this update on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02 “Leases," which supersedes ASC 840 “Leases” and creates a new topic, ASC 842 "Leases." This update requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. This update is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years, with earlier adoption permitted. This update will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the effect of this update on its consolidated financial statements.

Non-controlling Interests

Non-controlling Interests	3 Months Ended
	Mar. 29, 2016
Noncontrolling Interest [Abstract]
Non-controlling Interests	Note 3—Non-controlling Interests Pursuant to the LLC Agreement, the Continuing LLC Owners have the right to exchange their LLC Units, together with a corresponding number of shares of Class B common stock (which will be cancelled in connection with any such exchange) for, generally, at the option of the Company (such determination to be made by the disinterested members of our board of directors), (i) shares of our Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications or (ii) cash consideration. At any time that an effective registration statement is on file with the SEC with respect to the shares of Class A Common Stock to be issued upon an exchange, The Habit Restaurants, Inc. may not provide cash consideration upon an exchange to a Continuing LLC Owner without the Continuing LLC Owner’s prior consent. The non-controlling interest represents the portion of earnings or loss attributable to the economic interest held by the non-controlling Continuing LLC Owners. The non-controlling interests upon the completion of the IPO was 65.5%. Upon completion of the follow-on offering in April 2015, the non-controlling interests portion was 47.1%. The non-controlling interests portion changes as Continuing LLC Owners exchange their LLC Units, together with a corresponding number of shares of Class B common stock, for Class A common stock and the non-controlling interests on the condensed consolidated balance sheet were adjusted to reflect the non-controlling interest portion as of March 29, 2016, which was 44.7%. Net income attributable to non-controlling interests is calculated based on the non-controlling interests ownership percentage in effect at that time. The table below represents the weighted average non-controlling interest for the periods presented (dollar amounts in thousands): 13 Weeks Ended 13 Weeks Ended March 29, March 31, 2016 2015 Income before income taxes $ 4,400 $ 3,485 Weighted average non-controlling interests ownership percentage 45.8 % 65.5 % Net income attributable to non-controlling interests $ 2,014 $ 2,283

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 29, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4—Fair Value Measurements Fair value measurements enable the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The Company classifies and discloses assets and liabilities carried at fair value in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. The fair values of the Company’s investments in marketable securities are based on quoted prices in active markets for identical assets. The fair value of the investments in marketable securities at March 29, 2016 and December 29, 2015 was $35.0 million and $36.0 million, respectively, and the Company classified such investments as Level 1. These investments consist entirely of U.S. Treasury instruments with a maturity of three months or less at the date of purchase and the interest income received from these instruments is included in interest expense, net in the condensed consolidated statements of income. These amounts are included in cash and cash equivalents in the accompanying condensed consolidated balance sheets.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 29, 2016
Property Plant And Equipment [Abstract]
Property and Equipment, net	Note 5—Property and Equipment, net Property and equipment consists of the following (amounts in thousands): March 29, December 29, 2016 2015 Leasehold improvements $ 60,825 $ 59,038 Equipment 31,842 29,954 Furniture and fixtures 18,519 18,183 Buildings under deemed landlord financing 3,981 2,548 Smallwares 1,153 1,075 Vehicles 1,162 926 Construction in progress 5,511 4,504 122,993 116,228 Less: Accumulated depreciation and amortization (37,978 ) (34,704 ) $ 85,015 $ 81,524 Depreciation expense was approximately $3,412,000 and $2,667,000 for the 13 weeks ended March 29, 2016 and March 31, 2015, respectively. As a result of the application of build-to-suit lease guidance contained in ASC 840-40-55, the Company has determined that it was the accounting owner of a total of 10 buildings under deemed landlord financing as of March 29, 2016 and the accounting owner of a total of seven buildings under deemed landlord financing as of December 29, 2015, and they are included in the Company’s property and equipment, respectively. Included in the buildings under deemed landlord financing is the estimated construction costs of the landlord for the shell building.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 29, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Note 6—Income Taxes The Habit Restaurants, Inc. is subject to U.S. federal and state income taxation on its allocable portion of the income of The Habit Restaurants, LLC. The “Provision for income taxes” in the accompanying condensed consolidated statements of income for the 13 weeks ended March 29, 2016 and March 31, 2015 is based on an estimate of the Company’s annualized effective income tax rate. The Habit Restaurants, LLC operates as a limited liability company which is not itself subject to federal income tax. Accordingly, the portion of the Company’s subsidiary earnings attributable to the non-controlling interests are subject to tax when reported as a component of the non-controlling interests’ taxable income. As a result of the recapitalization and the IPO that occurred in fiscal year 2014, the portion of The Habit Restaurants, LLC’s income attributable to The Habit Restaurants Inc. is now subject to U.S. federal, state and local income taxes and is taxed at the prevailing corporate tax rates. The income tax provision reflects a tax rate of 22.8% and 14.9% for the 13 weeks ended March 29, 2016 and March 31, 2015, respectively. The effective tax rate varies significantly from the federal statutory rate due to the income attributable to the non-controlling interests which is not taxed at the entity level. The income tax provision would reflect an effective tax rate of 41.82% and 43.18% for the 13 week periods ended March 29, 2016 and March 31, 2015, respectively, if all of the income was taxed at Habit Restaurants, Inc. and the impact of the non-controlling interests was disregarded. The Habit Restaurants, Inc. files, income tax returns in the U.S. federal jurisdiction and various state jurisdictions and such filings include an amount from The Habit Restaurants, LLC earnings based upon the Company’s ownership. The federal statute of limitations for the Company’s subsidiaries remain open for the tax years 2008 and forward as a result of net operating losses generated within those years. With respect to state and local jurisdictions, the Company and its subsidiaries are typically subject to examination for four years after the income tax returns have been filed. Tax Receivable Agreement In connection with the IPO that occurred in fiscal year 2014, the Company entered into a TRA. Under the TRA, the Company generally will be required to pay to the Continuing LLC Owners 85% of the amount of cash savings, if any, in U.S. federal, state or local tax that the Company actually realize directly or indirectly (or are deemed to realize in certain circumstances) as a result of (i) certain tax attributes created as a result of the IPO and any sales or exchanges (as determined for U.S. federal income tax purposes) to or with the Company of their interests in The Habit Restaurants, LLC for shares of our Class A common stock or cash, including any basis adjustment relating to the assets of The Habit Restaurants, LLC and (ii) tax benefits attributable to payments made under the TRA (including imputed interest). The Habit Restaurants, Inc. generally will retain 15% of the applicable tax savings. The amount payable to the Continuing LLC Owners under the TRA is disclosed in the accompanying condensed consolidated balance sheets. In addition, the TRA provides for interest, at a rate equal to one year LIBOR, accrued from the due date (without extensions) of the corresponding tax return to the date of payment specified by the TRA. To the extent that the Company is unable to timely make payments under the TRA for any reason, such payments will be deferred and will accrue interest at a rate equal to one year LIBOR plus 200 basis points until paid (although a rate equal to one year LIBOR will apply if the inability to make payments under the TRA is due to limitations imposed on the Company or any of our subsidiaries by a debt agreement in effect on the date of the IPO). The Company’s ability to make payments under the TRA and to pay its tax liabilities to taxing authorities generally will depend on our receipt of cash distributions from The Habit Restaurants, LLC. Pursuant to the LLC Agreement, the Continuing LLC Owners have the right to exchange their LLC Units, together with a corresponding number of shares of Class B common stock (which will be cancelled in connection with any such exchange) for, generally, at the option of The Habit Restaurants, Inc. (such determination to be made by the disinterested members of our board of directors), (i) shares of our Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications or (ii) cash consideration (generally calculated based on the volume-weighted average price of the Class A common stock of The Habit Restaurants, Inc., as displayed under the heading Bloomberg VWAP on the Bloomberg page designated for the Class A common stock of The Habit Restaurants, Inc. for the 15 trading days immediately prior to the delivery date of a notice of exchange). At any time that an effective registration statement is on file with the SEC with respect to the shares of Class A common stock to be issued upon an exchange, The Habit Restaurants, Inc. may not provide cash consideration upon an exchange to a Continuing LLC Owner without the Continuing LLC Owner’s prior consent. These exchanges are expected to result in increases in the tax basis of the assets of The Habit Restaurants, LLC that otherwise would not have been available. Increases in tax basis resulting from such exchanges may reduce the amount of tax that The Habit Restaurants, Inc. would otherwise be required to pay in the future. This tax basis may also decrease gains (or increase losses) on future dispositions of certain assets to the extent tax basis is allocated to those assets. If the IRS or a state or local taxing authority challenges the tax basis adjustments that give rise to payments under the TRA and the tax basis adjustments are subsequently disallowed, the recipients of payments under the agreement will not reimburse us for any payments the Company previously made to them. Any such disallowance would be taken into account in determining future payments under the TRA and would, therefore, reduce the amount of any such future payments. Nevertheless, if the claimed tax benefits from the tax basis adjustments are disallowed, the Company’s payments under the TRA could exceed its actual tax savings, and the Company may not be able to recoup payments under the TRA that were calculated on the assumption that the disallowed tax savings were available. The TRA provides that (i) in the event that the Company materially breach the TRA, (ii) if, at any time, the Company elects an early termination of the TRA, or (iii) upon certain mergers, asset sales, other forms of business combinations or other changes of control, the Company’s (or our successor’s) obligations under the TRA (with respect to all LLC Units, whether or not LLC Units have been exchanged or acquired before or after such transaction) would accelerate and become payable in a lump sum amount equal to the present value of the anticipated future tax benefits calculated based on certain assumptions, including that the Company would have sufficient taxable income to fully utilize the deductions arising from the tax deductions, tax basis and other tax attributes subject to the TRA. The Company’s payment obligations under the TRA with respect to interests in The Habit Restaurants, LLC treated as sold for U.S. federal income tax purposes to the Company in connection with the IPO are calculated based on the IPO price of our Class A common stock net of underwriting discounts. As a result of the foregoing, (i) the Company could be required to make payments under the TRA that are greater than or less than the specified percentage of the actual tax savings the Company realizes in respect of the tax attributes subject to the agreements and (ii) the Company may be required to make an immediate lump sum payment equal to the present value of the anticipated future tax savings, which payment may be made years in advance of the actual realization of such future benefits, if any of such benefits are ever realized. In these situations, the Company’s obligations under the TRA could have a substantial negative impact on its liquidity and could have the effect of delaying, deferring or preventing certain mergers, asset sales, other forms of business combinations or other changes of control. There can be no assurance that the Company will be able to finance its obligations under the TRA in a manner that does not adversely affect its working capital and growth requirements. Payments under the TRA are intended to be treated as additional consideration for the applicable interests in The Habit Restaurants, LLC treated as sold or exchanged (as determined for U.S. federal income tax purposes) to or with the Company, except with respect to certain actual or imputed interest amounts payable under the TRA. As of March 29, 2016, the Company recorded a liability of $94,239,000, representing the payments due to the Continuing LLC Owners under the TRA. Payments are due under the TRA for a given year if the Company has a net realized tax benefit. The realized tax benefit is intended to measure the decrease or increase in the actual tax liability of the Company attributable to the tax benefits defined in the TRA (i.e., basis adjustments and imputed interest), using a “with and without” methodology. Payments are anticipated to be made under the TRA for approximately 20-25 years, with a potential payment becoming due after the filing of the Company’s 2015 federal income tax return, which will be due on September 15, 2016 (including extensions). The payments are to be made in accordance with the terms of the TRA. The Company shall pay or cause to be paid within five business days after the obligations became due (i.e. payable within 95-125 calendar days after the due date of the federal income tax return (taking into account valid extensions) dependent upon the type of holder of the TRA). The timing of the payments are subject to certain contingencies including whether the Company will have sufficient taxable income to utilize all of the tax benefits defined in the TRA. Obligations pursuant to the TRA are obligations of the Company. They do not impact the non-controlling interest. These obligations are not income tax obligations and have no impact on the tax provision or the allocation of taxes.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 29, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Note 7—Long-Term Debt On July 23, 2014, the Company refinanced its long-term debt with California Bank & Trust into a $35 million credit facility (the “Credit Facility”) that matures on July 23, 2017. Term debt of $11.1 million outstanding at the time of the refinancing became the initial borrowings under the Credit Facility. All borrowings under the Credit Facility generally bear interest at a variable rate based upon the Company’s election, of (i) the base rate plus, or (ii) LIBOR, plus, in either case, an applicable margin based on certain financial results of the Company (as defined in the Credit Facility agreement). The Company’s Credit Facility also requires payment for commitment fees that accrue on the daily unused commitment of the lender at 0.25% per annum, payable quarterly. This Credit Facility was paid down in November 2014 with a portion of the net proceeds from the IPO. As of March 29, 2016 and December 29, 2015, there were no borrowings outstanding against the Credit Facility, respectively. The Credit Facility is secured by all the assets of the Company and the Company must comply with certain financial covenants. The long-term debt contains customary representations, warranties, negative and affirmative covenants, including a funded debt to EBITDA ratio of 2.00 to 1.00, a fixed charge coverage ratio of 1.25 to 1.00 and a requirement that EBITDA must be greater than zero for 75% or more of all restaurants open at least six months. As of March 29, 2016, the Company was in compliance with all covenants.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 29, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8—Commitments and Contingencies Future commitments —The Company’s growth strategy includes new restaurant openings during fiscal year 2016 and beyond. In connection with the build out of the restaurants, the Company may be obligated for a portion of the start-up and/or construction costs. As of March 29, 2016, the Company had approximately $6.1 million in such commitments related to new restaurants. Litigation —The Company is involved in various claims and legal actions that arise in the ordinary course of business. Management does not believe that the ultimate resolution of these actions will have a material adverse effect on the Company’s consolidated financial position, results of operations, liquidity and capital resources. A significant increase in the number of litigated claims or an increase in amounts owing under successfully litigated claims could materially adversely affect the Company’s business, financial condition, results of operations, and cash flows.

Management Incentive Plans

Management Incentive Plans	3 Months Ended
	Mar. 29, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Management Incentive Plans	Note 9—Management Incentive Plans Stock-based compensation is included in general and administrative expenses on the accompanying condensed consolidated statements of income. The stock-based compensation expense related to the 2014 Omnibus Incentive Plan and to units issued under The Habit Restaurants, LLC Management Incentive Plan is summarized in the table below for the periods indicated: (in thousands) 13 Weeks Ended March 29, March 31, 2016 2015 Stock-based compensation expense $ 346 $ 213 Total $ 346 $ 213 2014 Omnibus Incentive Plan Prior to the completion of the Company’s IPO, the board of directors adopted The Habit Restaurants, Inc. 2014 Omnibus Incentive Plan (the “2014 Omnibus Incentive Plan”) and, subsequent to the IPO, all equity-based awards are granted under the 2014 Omnibus Incentive Plan. The 2014 Omnibus Incentive Plan also permits grants of cash bonuses beginning in fiscal year 2015. This plan authorizes 2,525,275 total options and restricted stock units. No awards may be granted under the plan after November 19, 2024. The purpose of the 2014 Omnibus Incentive Plan is to advance the Company’s interests by providing for the grant to eligible individuals of equity-based and other incentive awards. The 2014 Omnibus Incentive Plan is administered by our board of directors or a committee of our board of directors (the “Administrator”). The Administrator has the authority to, among other things, interpret the 2014 Omnibus Incentive Plan, determine eligibility for, grant and determine the terms of awards under the 2014 Omnibus Incentive Plan, and to do all things necessary to carry out the purposes of the 2014 Omnibus Incentive Plan. The Administrator’s determinations under the 2014 Omnibus Incentive Plan are conclusive and binding. The Administrator will determine the time or times at which an award will vest or become exercisable. The maximum term of an award will not exceed ten years from the date of grant. Non-Qualified Stock Options: The following table sets forth information about the fair value of the non-qualified stock option grants on the date of grant using the Black-Scholes option-pricing model and the weighted average assumptions used for such a grant for the 13 weeks ended March 29, 2016: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding and expected to vest at December 29, 2015 174,687 $ 30.25 9.3 — Granted 310,995 $ 19.01 Forfeited (2,402 ) $ 32.32 Exercised — Outstanding and expected to vest at March 29, 2016 483,280 $ 23.01 9.7 $ — Exercisable at March 29, 2016 5,554 $ 18.00 8.6 333 The aggregate intrinsic value in the table above is obtained by subtracting the weighted average exercise price from the estimated fair value of the underlying common stock as of March 29, 2016 and multiplying this result by the related number of options outstanding and expected to vest at March 29, 2016. The estimated fair value of the common stock as of March 29, 2016 used in the above calculation was $18.06 per share, the closing price of the Company’s Class A common stock on March 29, 2016, the last trading day of the first quarter. There was approximately $2.8 million of total unrecognized compensation costs related to options granted under the Plan as of March 29, 2016. That cost is expected to be recognized over a weighted average period of 4.6 years. Restricted Stock Units: A summary of stock-based compensation activity related to restricted stock units for the 13 weeks ended March 29, 2016 are as follows: Units Weighted Average Fair Value Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding and expected to vest at December 29, 2015 53,926 $ 31.79 9.4 1,282,360 Granted 96,003 $ 18.99 Forfeited (774 ) $ 32.32 Vested — Outstanding and expected to vest at March 29, 2016 149,155 $ 23.55 9.7 $ 2,693,739 The aggregate intrinsic value in the table above is obtained by multiplying the related number of units outstanding and expected to vest at March 29, 2016 by the estimated fair value of the common stock as of March 29, 2016. The estimated fair value of the common stock as of March 29, 2016 used in the above calculation was $18.06 per share, the closing price of the Company’s common stock on March 29, 2016, the last trading day of the first quarter. The fair value of the restricted stock units is the quoted market value of our common stock on the date of grant. As of March 29, 2016, total unrecognized stock-based compensation expense related to non-vested restricted stock units was approximately $3.0 million. That cost is expected to be recognized over a weighted average period of 4.6 years. The Habit Restaurants, LLC Management Incentive Plan In connection with the IPO, the Company converted all of the outstanding vested and unvested Class C units into an equivalent amount of vested and unvested LLC Units of The Habit Restaurants, LLC, respectively. As of March 29, 2016 there was approximately $2.3 million of total unrecognized stock-based compensation expense related to these units. That cost is expected to be recognized over a weighted average period of 2.1 years.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 29, 2016
Accounting Policies [Abstract]
Use of estimates	Use of estimates —The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Concentration of credit risk	Concentration of credit risk —Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. At March 29, 2016 and December 29, 2015, the Company maintained approximately $15 million and $11 million, respectively, of its day-to-day operating cash balances with a major financial institution. The remaining $35 million and $36 million at March 29, 2016 and December 29, 2015, respectively, was invested with a major financial institution and consisted entirely of U.S. Treasury instruments with a maturity of three months or less at the date of purchase. At March 29, 2016 and December 29, 2015 and at various times during the periods then ended, cash and cash equivalents balances were in excess of Federal Depository Insurance Corporation insured limits. While the Company monitors the cash balances in its operating accounts on a daily basis and adjusts the cash balances as appropriate, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Fair value measurements	Fair value measurements —The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and all other current liabilities approximate fair values due to the short maturities of these instruments.
Income taxes	Income taxes —The Company records a tax provision for the anticipated tax consequences of the reported results of operations. The provision for income taxes is computed using the asset and liability method, under which deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those tax assets are expected to be realized or settled. The Company may record a valuation allowance, if conditions are applicable, to reduce deferred tax assets to the amount that is believed more likely than not to be realized.
Non-controlling interests	Non-controlling interests —The non-controlling interests on the condensed consolidated statements of income represents the portion of earnings or loss attributable to the economic interest in the Company’s subsidiary, The Habit Restaurants, LLC, held by the non-controlling Continuing LLC Unit holders. Non-controlling interests on the condensed consolidated balance sheet represents the portion of net assets of the Company attributable to the non-controlling Continuing LLC Unit holders, based on the portion of the LLC Units owned by such unit holders. As of March 29, 2016 the non-controlling interest was 44.7%.
Earnings per Share	Earnings per Share —Basic earnings per share (“basic EPS”) is computed by dividing net income attributable to The Habit Restaurants, Inc. by the weighted average number of shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect during the reporting period to all dilutive potential shares outstanding resulting from employee stock-based awards. The following table sets forth the calculation of basic and diluted earnings per share for the 13 week periods ended March 29, 2016 and March 31, 2015: 13 Weeks Ended March 29, March 31, (amounts in thousands, except share and per share data) 2016 2015 Numerator: Net income attributable to controlling and non-controlling interests $ 3,395 $ 2,966 Less: net income attributable to non-controlling interests $ (2,014 ) $ (2,283 ) Net income attributable to The Habit Restaurants, Inc. $ 1,381 $ 683 Denominator: Weighted average shares of Class A common stock outstanding Basic 14,049,710 8,974,550 Diluted 14,050,990 8,979,230 Net income attributable to The Habit Restaurants, Inc. per share Class A common stock Basic $ 0.10 $ 0.08 Diluted $ 0.10 $ 0.08 Below is a reconciliation of basic and diluted share counts Basic 14,049,710 8,974,550 Dilutive effect of stock options 1,280 4,680 Diluted 14,050,990 8,979,230 The Company’s Class B common stock represent voting interests and do not participate in the earnings of the Company. Accordingly, there is no earnings per share related to the Company’s Class B common stock. Diluted earnings per share of Class A 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 using the treasury method, if dilutive. The Company’s LLC Units are considered common stock equivalents for this purpose. The number of additional shares of Class A common stock related to these common stock equivalents is calculated using the if-converted method. The potential impact of the exchange of the 11,627,041 LLC Units on the diluted EPS had no impact and were therefore excluded from the calculation. As of March 29, 2016, there were 2,525,275 options authorized under our 2014 Omnibus Incentive Plan of which 637,111 and 16,666 had been granted as of March 29, 2016 and March 31, 2015, respectively. The number of dilutive shares of Class A common stock related to these options was calculated using the treasury stock method and any anti-dilutive shares from this calculation have been excluded from the diluted EPS.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. This update will be effective for the Company in fiscal year 2017, but early adoption is permitted. The Company is currently evaluating the effect of this update on its consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02 “Leases," which supersedes ASC 840 “Leases” and creates a new topic, ASC 842 "Leases." This update requires lessees to recognize a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months on its balance sheet. The update also expands the required quantitative and qualitative disclosures surrounding leases. This update is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years, with earlier adoption permitted. This update will be applied using a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company is currently evaluating the effect of this update on its consolidated financial statements.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 29, 2016
Accounting Policies [Abstract]
Schedule of Calculation of Basic and Diluted Earnings Per Share	The following table sets forth the calculation of basic and diluted earnings per share for the 13 week periods ended March 29, 2016 and March 31, 2015: 13 Weeks Ended March 29, March 31, (amounts in thousands, except share and per share data) 2016 2015 Numerator: Net income attributable to controlling and non-controlling interests $ 3,395 $ 2,966 Less: net income attributable to non-controlling interests $ (2,014 ) $ (2,283 ) Net income attributable to The Habit Restaurants, Inc. $ 1,381 $ 683 Denominator: Weighted average shares of Class A common stock outstanding Basic 14,049,710 8,974,550 Diluted 14,050,990 8,979,230 Net income attributable to The Habit Restaurants, Inc. per share Class A common stock Basic $ 0.10 $ 0.08 Diluted $ 0.10 $ 0.08 Below is a reconciliation of basic and diluted share counts Basic 14,049,710 8,974,550 Dilutive effect of stock options 1,280 4,680 Diluted 14,050,990 8,979,230

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	3 Months Ended
	Mar. 29, 2016
Noncontrolling Interest [Abstract]
Summary of Net Income Attributable to Non-Controlling Interests	The non-controlling interests upon the completion of the IPO was 65.5%. Upon completion of the follow-on offering in April 2015, the non-controlling interests portion was 47.1%. The non-controlling interests portion changes as Continuing LLC Owners exchange their LLC Units, together with a corresponding number of shares of Class B common stock, for Class A common stock and the non-controlling interests on the condensed consolidated balance sheet were adjusted to reflect the non-controlling interest portion as of March 29, 2016, which was 44.7%. Net income attributable to non-controlling interests is calculated based on the non-controlling interests ownership percentage in effect at that time. The table below represents the weighted average non-controlling interest for the periods presented (dollar amounts in thousands): 13 Weeks Ended 13 Weeks Ended March 29, March 31, 2016 2015 Income before income taxes $ 4,400 $ 3,485 Weighted average non-controlling interests ownership percentage 45.8 % 65.5 % Net income attributable to non-controlling interests $ 2,014 $ 2,283

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 29, 2016
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consists of the following (amounts in thousands): March 29, December 29, 2016 2015 Leasehold improvements $ 60,825 $ 59,038 Equipment 31,842 29,954 Furniture and fixtures 18,519 18,183 Buildings under deemed landlord financing 3,981 2,548 Smallwares 1,153 1,075 Vehicles 1,162 926 Construction in progress 5,511 4,504 122,993 116,228 Less: Accumulated depreciation and amortization (37,978 ) (34,704 ) $ 85,015 $ 81,524

Management Incentive Plans (Tab

Management Incentive Plans (Tables)	3 Months Ended
	Mar. 29, 2016
Schedule of Restricted Stock Units, Activity	A summary of stock-based compensation activity related to restricted stock units for the 13 weeks ended March 29, 2016 are as follows: Units Weighted Average Fair Value Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding and expected to vest at December 29, 2015 53,926 $ 31.79 9.4 1,282,360 Granted 96,003 $ 18.99 Forfeited (774 ) $ 32.32 Vested — Outstanding and expected to vest at March 29, 2016 149,155 $ 23.55 9.7 $ 2,693,739
Non-Qualified Stock Options [Member]
Schedule of Non-Qualified Stock Option Grants, Activity	The following table sets forth information about the fair value of the non-qualified stock option grants on the date of grant using the Black-Scholes option-pricing model and the weighted average assumptions used for such a grant for the 13 weeks ended March 29, 2016: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding and expected to vest at December 29, 2015 174,687 $ 30.25 9.3 — Granted 310,995 $ 19.01 Forfeited (2,402 ) $ 32.32 Exercised — Outstanding and expected to vest at March 29, 2016 483,280 $ 23.01 9.7 $ — Exercisable at March 29, 2016 5,554 $ 18.00 8.6 333
2014 Omnibus Incentive Plan [Member]
Summary of Stock-Based Compensation Expense Related to Incentive Plan	The stock-based compensation expense related to the 2014 Omnibus Incentive Plan and to units issued under The Habit Restaurants, LLC Management Incentive Plan is summarized in the table below for the periods indicated: (in thousands) 13 Weeks Ended March 29, March 31, 2016 2015 Stock-based compensation expense $ 346 $ 213 Total $ 346 $ 213

Nature of Operations and Basi21

Nature of Operations and Basis of Presentation - Additional Information (Detail)	1 Months Ended		3 Months Ended
	Apr. 30, 2015USD ($)$ / sharesshares	Nov. 30, 2014USD ($)shares	Mar. 29, 2016RestaurantLicenseFranchiseshares	Dec. 29, 2015shares
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Place of formation			Delaware
Date of formation			Jul. 24, 2014
Common units held			11,627,041
Voting rights description			Each share of Class B common stock provides its holder with no economic rights but entitles the holder to one vote on matters presented to The Habit Restaurants, Inc.’s stockholders. Holders of Class A common stock and Class B common stock generally vote together as a single class on all matters presented to our stockholders for their vote or approval, except as otherwise required by applicable law.
Number of fast casual restaurants | Restaurant			140
Number of license agreements | License			3
Number of franchise agreements | Franchise			3
Number of licensed location | License			3
Number of franchise location | Franchise			2
Class A Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common stock shares sold	5,750,000
Common stock issued price per share | $ / shares	$ 30.96
Proceeds from issuance of follow-on offering | $	$ 0
Common stock shares sold			14,373,183	13,759,754
Class B Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Conversion of common stock	4,785,204		613,429
Common stock shares sold			11,627,041	12,241,482
Habit Restaurants, LLC [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common units held			14,373,183
Economic interest			55.30%
Initial Public Offering [Member] | Class A Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common stock shares sold		5,750,000
Proceeds from issuance IPO | $		$ 92,300,000
Selling Stockholders [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Proceeds from issuance of follow-on offering | $	$ 170,900,000
Follow-On Offering [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common units held	13,759,754
Economic interest	52.90%
Follow-On Offering [Member] | Public Shareholders [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Voting power	44.20%
Follow-On Offering [Member] | Public Shareholders [Member] | Class A Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common stock shares sold	11,500,000
Follow-On Offering [Member] | One or More Historic Investors [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Voting power	8.70%
Follow-On Offering [Member] | Habit Restaurants, LLC [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Common units held	12,243,000
Economic interest	47.10%
Follow-On Offering [Member] | KarpReilly LLC [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Voting power	38.20%
Voting rights description			Upon the completion of the follow-on offering, because affiliates of KarpReilly collectively owned less than 50% of the total voting power of the Company’s common stock, the Company was no longer a “controlled company” within the meaning of the Nasdaq listing standards; and
Follow-On Offering [Member] | KarpReilly LLC [Member] | Class A Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Economic interest	16.40%
Follow-On Offering [Member] | KarpReilly LLC [Member] | Class B Common Stock [Member]
Nature Of Operations And Basis Of Accounting Presentation [Line Items]
Economic interest	62.80%

Summary of Significant Accoun22

Summary of Significant Accounting Polices - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015	Dec. 29, 2015	Apr. 30, 2015	Nov. 25, 2014
Significant Accounting Policies [Line Items]
Cash	$ 15		$ 11
U.S. Treasury instruments	$ 35		$ 36
Common units held	11,627,041
2014 Omnibus Incentive Plan [Member]
Significant Accounting Policies [Line Items]
Options Granted	637,111	16,666
Options and Restricted Stock Units (RSUs) [Member] | 2014 Omnibus Incentive Plan [Member]
Significant Accounting Policies [Line Items]
Number of shares authorized	2,525,275
Habit Restaurants, LLC [Member]
Significant Accounting Policies [Line Items]
Non-controlling interests ownership percentage	44.70%			47.10%	65.50%
Common units held	14,373,183

Summary of Significant Accoun23

Summary of Significant Accounting Policies - Schedule of Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015
Numerator:
Net income attributable to controlling and non-controlling interests	$ 3,395	$ 2,966
Less: net income attributable to non-controlling interests	(2,014)	(2,283)
Net income attributable to The Habit Restaurants, Inc.	$ 1,381	$ 683
Class A Common Stock [Member]
Denominator: Weighted average shares of Class A common stock outstanding
Basic	14,049,710	8,974,550
Diluted	14,050,990	8,979,230
Net income attributable to The Habit Restaurants, Inc. per share Class A common stock
Basic	$ 0.10	$ 0.08
Diluted	$ 0.10	$ 0.08
Below is a reconciliation of basic and diluted share counts
Basic	14,049,710	8,974,550
Dilutive effect of stock options	1,280	4,680
Diluted	14,050,990	8,979,230

Non-controlling Interests - Add

Non-controlling Interests - Additional Information (Detail)	Mar. 29, 2016	Apr. 30, 2015	Nov. 25, 2014
Habit Restaurants, LLC [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests ownership percentage	44.70%	47.10%	65.50%

Non-controlling Interests - Sum

Non-controlling Interests - Summary of Net Income Attributable to Non-Controlling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015	Apr. 30, 2015	Nov. 25, 2014
Noncontrolling Interest [Line Items]
Income before income taxes	$ 4,400	$ 3,485
Net income attributable to non-controlling interests	$ 2,014	$ 2,283
Habit Restaurants, LLC [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests ownership percentage	44.70%		47.10%	65.50%
Weighted Average | Habit Restaurants, LLC [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests ownership percentage	45.80%	65.50%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 29, 2016	Dec. 29, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of investments	$ 35	$ 36
Marketable Securities [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of investments	$ 35	$ 36

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 29, 2016	Dec. 29, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 122,993	$ 116,228
Less: Accumulated depreciation and amortization	(37,978)	(34,704)
Property and equipment, net	85,015	81,524
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	60,825	59,038
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	31,842	29,954
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,519	18,183
Buildings under deemed landlord financing [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,981	2,548
Smallwares [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,153	1,075
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,162	926
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,511	$ 4,504

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 29, 2016USD ($)Buildings	Mar. 31, 2015USD ($)	Dec. 29, 2015Buildings
Property, Plant and Equipment [Line Items]
Depreciation expense | $	$ 3,412	$ 2,667
Buildings under deemed landlord financing [Member]
Property, Plant and Equipment [Line Items]
Number of owned buildings under deemed landlord financing | Buildings	10		7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2014	Mar. 29, 2016	Mar. 31, 2015	Dec. 30, 2014
Income Tax Contingency [Line Items]
Percentage of income tax rates		22.80%	14.90%
Income tax returns, examination period		4 years
Percentage of cash savings required to pay to continuing LLC owners	85.00%
Percentage of tax savings retained	15.00%
Amounts payable under Tax Receivable Agreement		$ 94,239,000
Minimum [Member]
Income Tax Contingency [Line Items]
Payments anticipated period under Tax Receivable Agreement		20 years
Payment obligation due period under Tax Receivable Agreement		95 days
Maximum [Member]
Income Tax Contingency [Line Items]
Payments anticipated period under Tax Receivable Agreement		25 years
Payment obligation due period under Tax Receivable Agreement		125 days
LIBOR [Member]
Income Tax Contingency [Line Items]
Rate of interest to accrue				2.00%
Federal [Member] | Earliest Tax Year [Member]
Income Tax Contingency [Line Items]
Open tax year		2,008
Habit Restaurants, Inc. [Member]
Income Tax Contingency [Line Items]
Percentage of income tax rates		41.82%	43.18%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - California Bank & Trust [Member] - Credit Facility [Member] - USD ($)	Jul. 23, 2014	Mar. 29, 2016	Dec. 29, 2015
Debt Instrument [Line Items]
Amount refinanced under revolving credit facility	$ 35,000,000
Credit facility, maturity		Jul. 23, 2017
Borrowings amount outstanding under credit facility	$ 11,100,000	$ 0	$ 0
Commitment fees, percentage	0.25%
Commitment fees, payment frequency		The Company’s Credit Facility also requires payment for commitment fees that accrue on the daily unused commitment of the lender at 0.25% per annum, payable quarterly
Funded debt to EBITDA ratio		200.00%
Fixed charge coverage ratio		125.00%
Description of EBITDA ratio covenants		Greater than zero for 75%
Percentage of EBITDA		75.00%
Debt Instrument, Covenant Description		A funded debt to EBITDA ratio of 2.00 to 1.00, a fixed charge coverage ratio of 1.25 to 1.00 and a requirement that EBITDA must be greater than zero for 75% or more of all restaurants open at least six months.
Debt Instrument, Covenant Compliance		As of March 29, 2016, the Company was in compliance with all covenants.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 29, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
Commitments related to new restaurants	$ 6.1
Commitments description	In connection with the build out of the restaurants, the Company may be obligated for a portion of the start-up and/or construction costs.

Management Incentive Plans - Su

Management Incentive Plans - Summary of Stock-Based Compensation Expense Related to Incentive Plan (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 346	$ 213
2014 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 346	$ 213

Management Incentive Plans - Ad

Management Incentive Plans - Additional Information (Detail) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 29, 2016USD ($)$ / sharesshares
Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to options	$ 2.8
Weighted average period, cost expected to be recognized	4 years 7 months 6 days
Non-Qualified Stock Options [Member] | Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price of common stock | $ / shares	$ 18.06
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price of common stock | $ / shares	$ 18.06
Weighted average period, cost expected to be recognized	4 years 7 months 6 days
Unrecognized stock-based compensation expense related to non-vested restricted stock units	$ 3
2014 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan description	The 2014 Omnibus Incentive Plan is administered by our board of directors or a committee of our board of directors (the “Administrator”). The Administrator has the authority to, among other things, interpret the 2014 Omnibus Incentive Plan, determine eligibility for, grant and determine the terms of awards under the 2014 Omnibus Incentive Plan, and to do all things necessary to carry out the purposes of the 2014 Omnibus Incentive Plan. The Administrator’s determinations under the 2014 Omnibus Incentive Plan are conclusive and binding. The Administrator will determine the time or times at which an award will vest or become exercisable. The maximum term of an award will not exceed ten years from the date of grant.
2014 Omnibus Incentive Plan [Member] | Options and Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized | shares	2,525,275
2014 Omnibus Incentive Plan [Member] | Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted expiry date	Nov. 19, 2024
Habit Restaurants LLC Management Incentive Plan [Member] | Class C Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, cost expected to be recognized	2 years 1 month 6 days
Unrecognized stock-based compensation expense related to units	$ 2.3

Management Incentive Plans - Sc

Management Incentive Plans - Schedule of Non-Qualified Stock Option Grants, Activity (Detail) - Non-Qualified Stock Options [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 29, 2016	Dec. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Outstanding and expected to vest, Beginning Balance	174,687
Options, Granted	310,995
Options, Forfeited	(2,402)
Options, Exercised	0
Options, Outstanding and expected to vest, Ending Balance	483,280	174,687
Options, Exercisable	5,554
Weighted Average Exercise Price, Outstanding and expected to vest, Beginning Balance	$ 30.25
Weighted Average Exercise Price, Granted	19.01
Weighted Average Exercise Price, Forfeited	32.32
Weighted Average Exercise Price, Outstanding and expected to vest, Ending Balance	23.01	$ 30.25
Weighted Average Exercise Price, Exercisable	$ 18
Weighted Average Remaining Contractual Term (Years), Outstanding and expected to vest	9 years 8 months 12 days	9 years 3 months 18 days
Weighted Average Remaining Contractual Term (Years), Exercisable	8 years 7 months 6 days
Aggregate Intrinsic Value, Outstanding and expected to vest, Ending Balance	$ 0
Aggregate Intrinsic Value, Exercisable	$ 333

Management Incentive Plans - 35

Management Incentive Plans - Schedule of Restricted Stock Units, Activity (Detail) - Restricted Stock Units (RSUs) [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 29, 2016	Dec. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units, Outstanding and expected to vest, Beginning Balance	53,926
Units, Granted	96,003
Units, Forfeited	(774)
Units, Vested	0
Units, Outstanding and expected to vest, Ending Balance	149,155	53,926
Weighted Average Fair Value, Outstanding and expected to vest, Beginning Balance	$ 31.79
Weighted Average Fair Value, Granted	18.99
Weighted Average Fair Value, Forfeited	32.32
Weighted Average Fair Value, Vested	0
Weighted Average Fair Value, Outstanding and expected to vest, Ending Balance	$ 23.55	$ 31.79
Weighted Average Remaining Contractual Term (Years), Outstanding and expected to vest	9 years 7 months 2 days	9 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding and expected to vest	$ 2,693,739	$ 1,282,360