Wingstop (WING) 10-K 18 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 26, 2020	Feb. 16, 2021	Jun. 27, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 26, 2020
Current Fiscal Year End Date	--12-26
Document Transition Report	false
Entity File Number	001-37425
Entity Registrant Name	WINGSTOP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3494862
Entity Address, Address Line One	5501 LBJ Freeway
Entity Address, Address Line Two	5th Floor
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	972
Local Phone Number	686-6500
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	WING
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4
Entity Common Stock, Shares Outstanding (in shares)		29,688,007
Documents Incorporated by Reference	Portions of the proxy statement for the registrant's 2021 annual meeting of stockholders, which will be filed no later than 120 days after the end of the registrant’s fiscal year ended December 26, 2020, are incorporated by reference into Part III of this report.
Entity Central Index Key	0001636222
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Current assets
Cash and cash equivalents	$ 40,858	$ 12,849
Restricted cash	4,815	4,790
Accounts receivable, net	4,929	5,175
Prepaid expenses and other current assets	5,532	2,449
Advertising fund assets, restricted	16,486	4,927
Total current assets	72,620	30,190
Property and equipment, net	27,948	27,842
Goodwill	53,690	50,188
Trademarks	32,700	32,700
Customer relationships, net	11,600	12,910
Other non-current assets	13,007	12,283
Total assets	211,565	166,113
Current liabilities
Accounts payable	3,658	3,348
Other current liabilities	26,729	21,454
Current portion of debt	3,600	3,200
Advertising fund liabilities	16,486	4,927
Total current liabilities	50,473	32,929
Long-term debt, net	466,933	307,669
Deferred revenues, net of current	24,962	22,343
Deferred income tax liabilities, net	4,480	4,485
Other non-current liabilities	6,027	8,115
Total liabilities	552,875	375,541
Commitments and contingencies (see Note 12)
Stockholders' deficit
Common stock, $0.01 par value; 100,000,000 shares authorized; 29,687,123 and 29,457,228 shares issued and outstanding as of December 26, 2020 and December 28, 2019, respectively	297	295
Additional paid-in-capital	421	552
Accumulated deficit	(342,028)	(210,275)
Total stockholders' deficit	(341,310)	(209,428)
Total liabilities and stockholders' deficit	$ 211,565	$ 166,113

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 26, 2020	Dec. 28, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	29,687,123	29,457,228
Common stock, shares outstanding (in shares)	29,687,123	29,457,228

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Revenue:
Advertising fees		$ 74,930	$ 55,932	$ 34,484
Total revenue		248,811	199,676	153,181
Costs and expenses:
Cost of sales	[1]	48,583	41,105	32,063
Advertising expenses		69,428	52,891	33,699
Selling, general and administrative		68,985	57,295	44,579
Depreciation and amortization		7,518	5,484	4,313
(Gain)/Loss on disposal of assets		(3,093)	0	0
Total costs and expenses		191,421	156,775	114,654
Operating income		57,390	42,901	38,527
Interest expense, net		16,782	17,136	10,123
Loss on debt extinguishment and refinancing transactions		13,665	0	1,477
Income before income tax expense		26,943	25,765	26,927
Income tax expense		3,637	5,289	5,208
Net income		$ 23,306	$ 20,476	$ 21,719
Earnings per share
Basic (in usd per share)		$ 0.79	$ 0.70	$ 0.74
Diluted (in usd per share)		$ 0.78	$ 0.69	$ 0.73
Weighted average shares outstanding
Basic (in shares)		29,601	29,415	29,231
Diluted (in shares)		29,804	29,670	29,587
Dividends per share (in usd per share)		$ 5.50		$ 6.54
Royalty revenue, franchise fees and other
Revenue:
Royalty revenue, franchise fees and other		$ 108,883	$ 88,291	$ 71,858
Company-owned restaurant sales
Revenue:
Total revenue		$ 64,998	$ 55,453	$ 46,839
[1]	Cost of sales includes all operating expenses of company-owned restaurants, including advertising expenses, and excludes depreciation and amortization, which are presented separately.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment
Balance at beginning of period (in shares) at Dec. 30, 2017			29,092,669
Balance at beginning of period at Dec. 30, 2017	$ (58,418)		$ 291	$ 262	$ (58,971)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,719				21,719
Shares issued under stock plans (in shares)			208,261
Shares issued under stock plans	517		$ 2	515
Tax payments for restricted stock upon vesting (in shares)			(3,991)
Tax payments for restricted stock upon vesting	(183)				(183)
Stock-based compensation expense	3,725			3,725
Dividends declared on common stock and equivalents	(192,190)			(3,466)	(188,724)
Balance at end of period (in shares) at Dec. 29, 2018			29,296,939
Balance at end of period at Dec. 29, 2018	$ (224,830)	$ 154	$ 293	1,036	(226,159)	$ 154
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Net income	$ 20,476				20,476
Shares issued under stock plans (in shares)			176,201
Shares issued under stock plans	689		$ 2	687
Tax payments for restricted stock upon vesting (in shares)			(15,912)
Tax payments for restricted stock upon vesting	(1,149)				(1,149)
Stock-based compensation expense	6,974			6,974
Dividends declared on common stock and equivalents	$ (11,742)			(8,145)	(3,597)
Balance at end of period (in shares) at Dec. 28, 2019	29,457,228		29,457,228
Balance at end of period at Dec. 28, 2019	$ (209,428)		$ 295	552	(210,275)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,306				23,306
Shares issued under stock plans (in shares)			233,051
Shares issued under stock plans	925		$ 2	923
Tax payments for restricted stock upon vesting (in shares)			(3,156)
Tax payments for restricted stock upon vesting	(340)				(340)
Stock-based compensation expense	8,558			8,558
Dividends declared on common stock and equivalents	$ (164,331)			(9,612)	(154,719)
Balance at end of period (in shares) at Dec. 26, 2020	29,687,123		29,687,123
Balance at end of period at Dec. 26, 2020	$ (341,310)		$ 297	$ 421	$ (342,028)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Operating activities
Net income	$ 23,306	$ 20,476	$ 21,719
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	7,518	5,484	4,313
Deferred income taxes	(4)	(426)	(1,054)
Stock-based compensation expense	8,558	6,974	3,725
(Gain)/Loss on disposal of assets	(3,093)	0	0
Loss on debt extinguishment and refinancing transactions	13,665	0	1,477
Amortization of debt issuance costs	1,567	1,586	506
Changes in operating assets and liabilities:
Accounts receivable	246	496	(1,197)
Prepaid expenses and other assets	1,089	323	(178)
Advertising fund assets and liabilities, net	10,061	(449)	1,657
Accounts payable and other current liabilities	1,507	3,086	6,996
Deferred revenue	3,198	881	977
Other non-current liabilities	(2,088)	152	(171)
Cash provided by operating activities	65,530	38,583	38,770
Investing activities
Purchases of property and equipment	(6,052)	(22,486)	(3,982)
Acquisitions of restaurants from franchisees	(6,735)	(1,245)	(6,516)
Proceeds from sales of assets	4,800	0	0
Cash used in investing activities	(7,987)	(23,731)	(10,498)
Financing activities
Proceeds from exercise of stock options	925	689	517
Borrowings of long-term debt	496,000	5,000	551,108
Repayments of long-term debt	(333,600)	(7,400)	(364,858)
Payment of deferred financing costs and other debt-related costs	(18,641)	(15)	(9,571)
Tax payments for restricted stock upon vesting	(340)	(1,149)	(183)
Dividends paid	(163,792)	(11,742)	(190,737)
Cash used in financing activities	(19,448)	(14,617)	(13,724)
Net increase in cash, cash equivalents, and restricted cash	38,095	235	14,548
Cash, cash equivalents, and restricted cash at beginning of period	21,175	20,940	6,392
Cash, cash equivalents, and restricted cash at end of period	59,270	21,175	20,940
Supplemental information:
Cash paid for interest	14,549	16,929	7,601
Cash paid for taxes	$ 7,262	$ 5,407	$ 2,951

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 26, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	(1) Basis of Presentation and Summary of Significant Accounting Policies Overview Wingstop Inc., together with its consolidated subsidiaries (collectively, “Wingstop” or the “Company”), is in the business of franchising and operating Wingstop restaurants. As of December 26, 2020, the Company had a total of 1,538 restaurants in its system. The Company's restaurant base is 98% franchised, with 1,506 franchised locations (including 179 international locations) and 32 company-owned restaurants as of December 26, 2020. Summary of Significant Accounting Policies (a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Wingstop Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. (b) Fiscal Year End The Company uses a 52/53-week fiscal year that ends on the last Saturday of the calendar year. Fiscal years 2020, 2019, and 2018 each consisted of 52 weeks. (c) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions, primarily related to long-lived asset valuation, indefinite and finite lived intangible asset valuation, income taxes, leases, stock-based compensation, contingencies, and common stock equity valuations. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the period. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could differ from those estimates. (d) Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income is the same as net income for all periods presented. Therefore, a separate statement of comprehensive income (loss) is not included in the accompanying consolidated financial statements. (e) Cash, Cash Equivalents, and Restricted Cash The Company continually monitors its positions with, and the credit quality of, the financial institutions in which it maintains its deposits and investments. As of December 26, 2020 and December 28, 2019, the Company maintained balances in various cash accounts in excess of federally insured limits. All highly liquid instruments purchased with an original maturity of three months or less are considered cash equivalents. Restricted cash includes cash and cash equivalents held for future principal and interest payments as required by the Company's debt agreements (see Note 10). The Company also has Advertising fund restricted cash, which can only be used for activities that promote the Wingstop brand. Cash, cash equivalents, and restricted cash within the Consolidated Balance Sheets that are included in the Consolidated Statements of Cash Flows as of December 26, 2020 and December 28, 2019 were as follows (in thousands): December 26, 2020 December 28, 2019 Cash and cash equivalents $ 40,858 $ 12,849 Restricted cash 4,815 4,790 Restricted cash, included in Advertising fund assets, restricted 13,597 3,536 Total cash, cash equivalents, and restricted cash $ 59,270 $ 21,175 (f) Accounts Receivable Accounts receivable, net of allowance for doubtful accounts, consists primarily of accrued royalty fee receivables, collected weekly in arrears, and vendor rebates. Management determines the allowance for doubtful accounts based on historical losses and current economic conditions. On a continuing basis, management analyzes delinquent receivables, which are charged off against the existing allowance account when determined to be uncollectible. (g) Inventories Inventories, which consist of food and beverage products, paper goods and supplies, are valued at the lower of cost (first-in, first-out) or market. (h) Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Property and equipment is depreciated based on the straight-line method over the following estimated useful lives: Property and Equipment Estimated Useful Lives Building 40 years Leasehold and other improvements Lesser of the expected lease term or useful life Equipment, furniture and fixtures 3 to 7 years Computer software 3 years At the time property and equipment are retired, the asset and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in earnings. The Company expenses repair and maintenance costs that maintain the appearance and functionality of the restaurant but do not extend the useful life of any restaurant asset. Improvements to leased properties are depreciated over the shorter of their useful life or the lease term, which includes a fixed, non-cancelable lease term plus any reasonably assured renewal periods. (i) Impairment or Disposal of Long-Lived Assets Property and equipment and finite-life intangible assets are reviewed for impairment periodically and whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. The Company’s assessment of recoverability of property and equipment and finite-lived intangible assets is performed at the component level, which is generally an individual restaurant and requires judgment and an estimate of future restaurant generated cash flows. The Company’s estimates of fair values are based on the best information available and require the use of estimates, judgments, and projections. The Company did not record any impairment losses on long-lived assets in fiscal years 2020, 2019, or 2018. (j) Goodwill and Indefinite-Lived Intangible Assets The Company’s indefinite-lived intangible assets consist of goodwill and trademarks, which are not subject to amortization. On an annual basis (October 1 st of each fiscal year) and whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable, the Company reviews the recoverability of goodwill and indefinite-lived intangible assets. No indications of impairment were identified during fiscal years 2020, 2019, or 2018. It is possible that changes in circumstances or changes in management’s judgments, assumptions and estimates could result in an impairment charge of a portion or all of its goodwill or other intangible assets. (k) Revenue Recognition Revenues consist primarily of royalties, national advertising fund (the "Ad Fund") contributions, initial and renewal franchise fees, and upfront fees from development agreements and international territory agreements. The Company's performance obligations under its franchise agreements consist of (a) a franchise license, (b) pre-opening services, such as training, and (c) ongoing services, such as management of the Ad Fund contributions, development of training materials and menu items, and restaurant monitoring. These performance obligations are highly interrelated, so they are not considered to be individually distinct and therefore are accounted for as a single performance obligation, which is satisfied by providing a right to use the Company's intellectual property over the term of each franchise agreement. Franchise fee, development fee and international territory fee payments received by the Company before the restaurant opens are recorded as deferred revenue in the Consolidated Balance Sheets. Royalties, including franchisee contributions to the Ad Fund, are calculated as a percentage of franchise restaurant sales over the term of the franchise agreement. Initial and renewal franchise fees are payable by the franchisee prior to the restaurant opening or at the time of a renewal of an existing franchise agreement. The Company's franchise agreement royalties, inclusive of Ad Fund contributions, represent sales-based royalties that are related entirely to the Company's performance obligation under the franchise agreement and are recognized as franchised restaurant sales occur. Additionally, initial and renewal franchise fees are recognized as revenue on a straight-line basis over the term of the respective agreement. The Company's performance obligation under development agreements and international territory agreements generally consists of an obligation to grant exclusive development rights over a stated term. These development rights are not distinct from franchise agreements, so upfront fees paid by franchisees for development rights are apportioned to each franchised restaurant opened and accounted for as an initial franchise fee. The Company records food and beverage revenues from company-owned restaurants upon sale to the customer. The Company collects and remits sales, food and beverage, alcoholic beverage, and hospitality taxes on transactions with customers and reports such amounts under the net method in its Consolidated Statements of Operations. Accordingly, these taxes are not included in gross revenue. The Company records a liability in the period in which a gift card is sold. As gift cards are redeemed, the liability is reduced. When gift cards are redeemed at a franchisee-operated restaurant, the revenue and related administrative costs are recognized by the franchisee. The Company recognizes revenue and related administrative costs when gift cards are redeemed at company-owned restaurants. (l) Consideration from Vendors The Company has entered into food and beverage supply agreements with certain major vendors. Pursuant to the terms of these arrangements, rebates are provided to the Company from the vendors based upon the dollar volume of purchases for company-owned restaurants and franchised restaurants. Additionally, the Company receives certain incentives from vendors to sponsor its annual franchisee convention. These incentives are recognized as earned throughout the year and are classified as a reduction in Cost of sales with any consideration received in excess of the total expense of the vendor’s products included within Royalty revenue, franchise fees and other within the Consolidated Statements of Operations. The incentives recognized were approximately $7.9 million, $10.6 million, and $8.2 million, during fiscal years 2020, 2019, and 2018, respectively, of which $1.3 million, $1.6 million, and $1.2 million was classified as a reduction in Cost of sales during fiscal years 2020, 2019, and 2018, respectively. (m) Advertising Expenses The Company administers the Ad Fund, for which a percentage of gross sales is collected from domestic restaurant franchisees and company-owned restaurants to be used for various forms of advertising for the Wingstop brand. Under this program, domestic franchisees contributed 4% of gross sales for fiscal years 2020 and 2019, and 3% for fiscal year 2018. The Company administers and directs the development of all advertising and promotion programs in the Ad Fund for which it collects advertising contributions in accordance with the provisions of its franchise agreements. The Company has a contractual obligation with regard to these advertising contributions. The Company consolidates and reports all assets and liabilities of the Ad Fund as restricted assets of the Ad Fund and liabilities of the Ad Fund within current assets and current liabilities, respectively, in the Consolidated Balance Sheets. The assets and liabilities of the Ad Fund consist primarily of cash, receivables, accrued expenses, and other liabilities. Pursuant to the Company’s franchise agreements, use of Ad Fund contributions is restricted to advertising, public relations, merchandising, similar activities, and administrative expenses to increase sales and further enhance the public reputation of the Wingstop brand. The aforementioned administrative expenses may also include personnel expenses and allocated costs incurred by the Company that are directly associated with administering the Ad Fund, as outlined in the provisions of the applicable franchise agreements. The Company expenses the production costs of advertising in the period in which the advertising first occurs. All other advertising and promotional costs are expensed in the period incurred. When contributions to the Ad Fund exceed the related advertising expenses, advertising costs are accrued up to the amount of the related contributions. Ad Fund contributions and expenditures are reported on a gross basis in the Consolidated Statements of Operations, which are largely offsetting and therefore do not impact the Company's reported net income in years when contributions to the Ad Fund exceed advertising expenses incurred. Administrative support services and compensation expenses of employees that provide services directly to the Ad Fund, are included in Selling, general and administrative expenses (“SG&A”) in the Consolidated Statements of Operations. Advertising expenses incurred by company-owned restaurants are included within Cost of sales in the Consolidated Statements of Operations. Company-owned restaurants incurred advertising expenses of $3.3 million, $2.9 million, and $1.9 million in fiscal years 2020, 2019, and 2018, respectively. (n) Leases The Company determines whether an arrangement is a lease at inception and leases restaurants and office space under operating leases. Most lease agreements contain tenant improvement allowances, rent holidays, rent escalation clauses, and/or contingent rent provisions. For leases with renewal periods at the Company’s option, the Company determines the expected lease period based on whether the renewal of any options are reasonably certain at the inception of the lease. For purposes of measurement and amortization of the right-of-use asset and associated lease liability over the terms of the leases, the Company uses the date it takes possession of the leased space for construction purposes at the beginning of the lease term, which is generally two (o) Stock-Based Compensation The Company measures stock-based compensation cost at fair value on the date of grant for all share-based awards and recognizes compensation expense over the service period that the awards are expected to vest. The Company has elected to recognize compensation cost for graded-vesting awards subject only to a service condition over the requisite service period of the entire award. For performance awards, the Company recognizes expense in the period in which vesting becomes probable. The Company accounts for forfeitures as they occur. (p) Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, a deferred tax asset or liability is recognized for the estimated future tax effects attributable to temporary differences between the financial statement basis and the tax basis of assets and liabilities as well as tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period of the change. The Company files a consolidated federal income tax return including all of its subsidiaries. Judgment is required in evaluating the Company’s uncertain tax positions and determining the Company’s income tax expense. The Company assesses the income tax position and records the liabilities for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. (q) Business Segments Historically, the Company had two reporting segments: franchise operations and company restaurant operations. In accordance with Accounting Standards Codification 280 “Segment Reporting”, the Company uses the management approach for determining its reportable segments. The management approach is based upon the way management reviews performance and allocates resources. During the second fiscal quarter of 2020, the Company reevaluated its operating segments and determined it has one operating segment and one reporting segment due to changes in how the Company’s chief operating decision maker assesses the Company’s performance and allocates resources. (r) Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-02, Leases (Topic 842), as amended (“ASU 2016-02”). ASU 2016-02 amended the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new guidance also required additional disclosures about leases. The Company adopted the requirements of the new standard as of the first day of fiscal year 2019 using the modified retrospective approach without restating comparative periods. As part of our adoption, we elected the package of practical expedients, as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classification of leases. In addition, we elected not to separate non-lease components for our real estate leases. The adoption of the new standard resulted in the recording of a right-of-use asset of approximately $8.5 million and lease liabilities of approximately $10.3 million, and had an immaterial impact on retained earnings as of the beginning of fiscal year 2019. The standard did not materially impact our Consolidated Statements of Operations and had no impact on cash flows.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 26, 2020
Earnings Per Share [Abstract]
Earnings Per Share	(2) Earnings Per Share Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if securities convertible into, or other contracts to issue, common stock were exercised or converted into common stock. For the calculation of diluted earnings per share, the basic weighted average number of shares is increased by the dilutive effect of the exercise and vesting of stock options and restricted stock units, respectively, determined using the treasury stock method. Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands): Fiscal Year December 26, December 28, December 29, Basic weighted average shares outstanding 29,601 29,415 29,231 Dilutive shares 203 255 356 Diluted weighted average shares outstanding 29,804 29,670 29,587 We had approximately 1,000 equity awards outstanding at December 26, 2020 and 3,000 equity awards outstanding at December 28, 2019, and December 29, 2018, respectively, that were excluded from the dilutive earnings per share calculation because the effect would have been anti-dilutive.

Dividends

Dividends	12 Months Ended
	Dec. 26, 2020
Dividends [Abstract]
Dividends	(3) Dividends In connection with the Company's regular dividend program, the Company declared and paid dividends of $14.8 million, or $0.50 per common share, in fiscal year 2020, $11.7 million, or $0.40 per common share in fiscal year 2019, and $9.4 million, or $0.32 per common share in fiscal year 2018. Subsequent to the end of fiscal year 2020, on February 16, 2021, the Company’s board of directors declared a quarterly dividend of $0.14 per share of common stock, to be paid on March 26, 2021 to stockholders of record as of March 5, 2021, totaling approximately $4.2 million.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	(4) Fair Value Measurements Fair value is the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. Assets and liabilities are classified using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows: Level 1 - Unadjusted quoted prices for identical instruments traded in active markets. Level 2 - Observable market-based inputs or unobservable inputs corroborated by market data. Level 3 - Unobservable inputs reflecting management’s estimates and assumptions. The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short-term nature. Fair value of debt is determined on a non-recurring basis, which results are summarized as follows (in thousands): Fair Value Hierarchy December 26, 2020 December 28, 2019 Carrying Value Fair Value Carrying Value Fair Value Securitized Financing Facility: 2020-1 Class A-2 Senior Secured Notes (1) Level 2 $ 480,000 $ 483,365 $ — $ — 2018-1 Class A-2 Senior Secured Notes (1) Level 2 $ — $ — $ 317,600 $ 331,247 (1) The fair value of long-term debt was estimated using available market information.

Accounts Receivable, net

Accounts Receivable, net	12 Months Ended
	Dec. 26, 2020
Receivables [Abstract]
Accounts Receivable, net	(5) Accounts Receivable, net Accounts receivables, net, consist of the following (in thousands): December 26, December 28, Vendor rebates receivable $ 1,944 $ 2,530 Royalties receivable (net of allowance for doubtful accounts of $1,053 and $24, respectively) 2,097 1,870 Gift card receivable 78 477 Other receivables, net 810 298 Accounts receivable, net $ 4,929 $ 5,175

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 26, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	(6) Property and Equipment Property and equipment, net consisted of the following (in thousands): December 26, December 28, Building 15,405 — Construction in progress 2,853 16,188 Equipment, furniture and fixtures 14,633 15,568 Leasehold and other improvements 9,876 9,021 Land 2,828 2,828 Property and equipment, gross 45,595 43,605 Less: accumulated depreciation (17,647) (15,763) Property and equipment, net $ 27,948 $ 27,842 Depreciation expense was $5.2 million, $3.1 million, and $2.1 million for the fiscal years ended December 26, 2020, December 28, 2019, and December 29, 2018, respectively. In fiscal year 2019, the Company used cash on hand to purchase an office building for $18.3 million. The building is located in Addison, Texas and is currently undergoing renovation to prepare it for use as the Company's corporate headquarters. As of December 28, 2019, the building was included in construction in process within Property and equipment, net on the Consolidated Balance Sheets.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	(7) Intangible Assets and Goodwill The Company’s goodwill and other intangible assets arose from Wingstop’s acquisition of the equity interests of Wingstop Holdings, Inc. in April 2010, as well as the acquisition of restaurants from franchisees in 2020 and 2019. Goodwill represents the excess of purchase consideration transferred for the respective reporting unit over the fair value of the business at the time of the acquisition. The following is a summary of goodwill balances and activity (in thousands): December 26, December 28, Balance, beginning of period $ 50,188 $ 49,655 Acquisition of restaurants, net 3,502 533 Balance, end of period $ 53,690 $ 50,188 Intangible assets, excluding goodwill, consisted of the following (in thousands): December 26, December 28, Weighted Average Amortization Period (in years) Intangible assets: Trademarks $ 32,700 $ 32,700 Indefinite-lived assets 32,700 32,700 Customer relationships 26,300 26,300 20.0 Franchise rights (1) 8,121 5,638 6.3 Proprietary software (1) 115 115 5.0 Noncompete agreements (1) 250 250 2.8 Less: accumulated amortization (18,155) (15,855) Definite-lived assets 16,631 16,448 16.7 Intangible assets, net $ 49,331 $ 49,148 (1) Included within Other non-current assets net of associated accumulated amortization within the Consolidated Balance Sheets. Amortization expense for definite-lived intangibles was $2.3 million, $2.4 million, and $2.2 million for fiscal years 2020, 2019, and 2018, respectively. Estimated amortization expense, principally related to customer relationships, for the five succeeding fiscal years and the aggregate thereafter is (in thousands): Fiscal year 2021 $ 2,602 Fiscal year 2022 2,385 Fiscal year 2023 2,095 Fiscal year 2024 1,817 Fiscal year 2025 1,683 Thereafter 6,049 Total $ 16,631

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets and Other Current Liabilities	12 Months Ended
	Dec. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Prepaid Expenses and Other Current Assets and Other Current Liabilities	(8) Prepaid Expenses and Other Current Assets and Other Current Liabilities Prepaid expenses and other current assets consisted of the following (in thousands): December 26, December 28, Prepaid expenses $ 1,534 $ 1,467 Federal income tax receivable 3,602 667 Inventories 396 315 Total $ 5,532 $ 2,449 Other current liabilities consisted of the following (in thousands): December 26, December 28, Accrued payroll and incentive compensation $ 11,175 $ 7,512 Current portion of deferred revenues 3,221 2,622 Short term lease liability 2,385 1,806 Accrued interest 2,222 1,055 Gift card liability 1,363 1,758 Other accrued liabilities 6,363 6,701 Total $ 26,729 $ 21,454

Income Taxes

Income Taxes	12 Months Ended
	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Income Taxes	(9) Income Taxes Income tax expense for the fiscal years 2020, 2019, and 2018 consisted of the following (in thousands): Fiscal Year December 26, December 28, December 29, Current expense Federal $ 2,454 $ 4,286 $ 4,932 State 996 1,170 1,089 Foreign 191 259 241 Deferred expense (benefit) Federal 42 (579) (946) State (46) 153 (108) Income tax expense $ 3,637 $ 5,289 $ 5,208 A reconciliation of income tax at the U.S. federal statutory tax rate (using a statutory tax rate of 21%) to income tax expense for fiscal years 2020, 2019, and 2018 in dollars is as follows (in thousands): Fiscal Year December 26, December 28, December 29, Expected income tax expense at statutory rate $ 5,658 $ 5,411 $ 5,655 Excess tax benefits from equity compensation (3,963) (1,777) (1,669) Non-deductible expenses 690 942 207 State tax expense, net of federal benefit 620 985 520 Foreign tax expense 191 259 241 Foreign tax credits (191) (259) (241) Increase (decrease) in unrecognized tax benefit 102 (128) 322 Other 530 (144) 173 Income tax expense $ 3,637 $ 5,289 $ 5,208 The components of deferred tax assets (liabilities) were as follows (in thousands): December 26, 2020 December 28, 2019 Deferred tax assets: Deferred revenue $ 4,873 $ 4,510 Accrued incentive compensation 1,089 262 Stock based compensation 738 776 Deferred rent 358 394 Intangible assets 82 99 Other 628 1,467 Net operating loss carryforwards and credits 987 869 Valuation allowance (577) (577) 8,178 7,800 Deferred tax liabilities: Intangible assets (10,599) (10,820) Property and equipment (2,059) (1,465) (12,658) (12,285) Net deferred tax liability $ (4,480) $ (4,485) The Company had a state net operating loss carry-forward of $23.3 million at December 26, 2020 and December 28, 2019. The state net operating loss carry forwards begin to expire in 2030. The Company had a valuation allowance of $577,000 against its deferred tax assets as of December 26, 2020 and December 28, 2019. In assessing whether a deferred tax asset will be realized, the Company considers whether it is more likely than not that either some portion or all of the deferred tax assets will not be realized. The Company considers the reversal of existing taxable temporary differences, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, the Company believes it is more likely than not that it will realize a portion of the benefits of the federal and state deductible differences. The Company files income tax returns, which are periodically audited by various federal and state jurisdictions. In fiscal year 2019, the Internal Revenue Service commenced an examination of the Company’s U.S. income tax return for fiscal years 2016 and 2017. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance as of December 30, 2017 $ 680 Additions for tax positions of prior years 78 Subtractions for tax positions of prior years — Additions for tax positions of current year 155 Subtractions for tax positions of current year — Balance as of December 29, 2018 913 Additions for tax positions of prior years 187 Subtractions for tax positions of prior years (330) Additions for tax positions of current year 929 Subtractions for tax positions of current year — Balance as of December 28, 2019 1,699 Additions for tax positions of prior years — Subtractions for tax positions of prior years (959) Additions for tax positions of current year 54 Subtractions for tax positions of current year — Balance as of December 26, 2020 $ 794

Debt Obligations

Debt Obligations	12 Months Ended
	Dec. 26, 2020
Debt Disclosure [Abstract]
Debt Obligations	(10) Debt Obligations Long-term debt consisted of the following components (in thousands): December 26, 2020 December 28, 2019 2020-1 Class A-2 Senior Secured Notes $ 480,000 $ — 2018-1 Class A-2 Senior Secured Notes — 317,600 Debt issuance costs, net of amortization (9,467) (6,731) Less: current portion of debt (3,600) (3,200) Long-term debt, net $ 466,933 $ 307,669 As of December 26, 2020, the scheduled principle payments on debt were as follows (in thousands): Fiscal year 2021 $ 3,600 Fiscal year 2022 4,800 Fiscal year 2023 4,800 Fiscal year 2024 4,800 Fiscal year 2025 4,800 Thereafter 457,200 Total $ 480,000 Securitized Financing Facility In November 2018, Wingstop Funding LLC (the “Issuer”), a limited-purpose, bankruptcy-remote, wholly-owned indirect subsidiary of the Company, issued Series 2018-1 4.97% Fixed Rate Senior Secured Notes, Class A-2 (the “2018 Class A-2 Notes”) with an anticipated term of five years and an initial principal amount of $320 million. In addition, the Issuer issued Series 2018-1 Variable Funding Senior Secured Notes, Class A-1 (the “2018 Variable Funding Notes”, and together with the 2018 Class A-2 Notes, the “2018 Notes”), which allowed the Issuer to borrow up to $20 million on a revolving basis. A portion of the proceeds of the 2018 Class A-2 Notes were to repay approximately $215 million borrowed under the Company’s senior credit facility. In October 2020, the Company completed a transaction to refinance its existing securitized financing facility with a new securitized financing facility, pursuant to which the Issuer issued $480.0 million of its Series 2020-1 2.84% Fixed Rate Senior Notes, Class A-2 (the “2020 Class A-2 Notes”) with an anticipated term of seven years. The Issuer also entered into a revolving financing facility of Series 2020-1 Variable Funding Senior Notes, Class A-1 (the “2020 Variable Funding Notes,” and together with the 2020 Class A-2 Notes, the “2020 Notes”), which permits borrowings of up to a maximum principal amount of $50 million, which may be used to issue letters of credit. A portion of the proceeds of the 2020 Class A-2 Notes was used to repay the principal outstanding on the existing 2018 Notes and to pay related transaction fees and expenses. The additional net proceeds were used to strengthen the Company's liquidity position and for general corporate purposes, which included a return of capital to the Company’s stockholders in 2020. No borrowings were outstanding under the 2020 Variable Funding Notes as of December 26, 2020. The 2018 and 2020 Notes were each issued in a securitization transaction, which is guaranteed by certain limited-purpose, bankruptcy-remote, wholly owned indirect subsidiaries of the Company and secured by a security interest in substantially all of their assets, including certain domestic and foreign revenue-generating assets, consisting principally of franchise-related agreements and intellectual property. The 2018 Notes and 2020 Notes were issued pursuant to a base indenture and related supplemental indentures (collectively, the “Indenture”). Interest and principal payments on the 2020 Class A-2 Notes are payable on a quarterly basis. The requirement to make such quarterly principal payments on the 2020 Class A-2 Notes is subject to certain financial conditions set forth in the Indenture. The legal final maturity date of the 2020 Notes is in December of 2050, but, unless earlier prepaid to the extent permitted under the Indenture, the anticipated repayment date of the 2020 Class A-2 Notes is December 2027. If the Issuer has not repaid or refinanced the 2020 Class A-2 Notes prior to the anticipated repayment date, additional interest will accrue on the Notes. The 2020 Variable Funding Notes accrue interest at a variable rate based on (i) the prime rate, (ii) the Eurodollar rate for U.S. Dollars (or a benchmark replacement), or (iii) with respect to advances made by conduit investors, the weighted average cost of, or related to, the issuance of commercial paper allocated to fund or maintain such advances, in each case plus any applicable margin, as more fully set forth in the 2020 Variable Funding Note Purchase Agreement, dated October 30, 2020. There is a commitment fee on the unused portion of the 2020 Variable Funding Notes facility, which is 30 basis points based on the utilization under the 2020 Variable Funding Notes facility. As of December 26, 2020, $4.9 million of letters of credit were outstanding against the 2020 Variable Funding Notes, which relate primarily to interest reserves required under the indenture. There were no amounts drawn down on the letters of credit as of December 26, 2020. Total debt issuance costs incurred and capitalized in connection with the issuance of the 2018 Notes were $8.8 million. Previously capitalized financing costs of $1.5 million were expensed as a result of the refinancing in fiscal year 2018. During the fourth quarter of 2020, as a result of the repayment of the remaining $332.8 million of principal outstanding on the existing 2018 Notes, the Company recorded a loss on debt extinguishment of $13.7 million, consisting of a $5.4 million write-off of previously capitalized financing costs associated with the 2018 Notes and $8.2 million of make-whole interest premium costs associated with the early repayment of the 2018 Class A-2 Notes. Total debt issuance costs incurred and capitalized in connection with the issuance of the 2020 Notes were $10.4 million. The 2020 Notes are subject to a series of covenants and restrictions customary for transactions of this type, including (i) that the Issuer maintains specified reserve accounts to be used to make required payments in respect of the 2020 Notes, (ii) provisions relating to optional and mandatory prepayments and the related payment of specified amounts, including specified make-whole payments in the case of the 2020 Class A-2 Notes under certain circumstances, (iii) certain indemnification payments in the event, among other things, that the assets pledged as collateral for the 2020 Notes are in stated ways defective or ineffective, and (iv) covenants relating to recordkeeping, access to information, and similar matters. The 2020 Notes are also subject to customary rapid amortization events provided for in the indenture, including events tied to failure to maintain stated debt service coverage ratios, the sum of global gross sales for specified restaurants being below certain levels on certain measurement dates, certain change of control and manager termination events, an event of default, and the failure to repay or refinance the 2020 Class A-2 Notes on the applicable scheduled maturity date. The 2020 Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal or other amounts due on or with respect to the 2020 Notes, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties, failure of security interests to be effective, and certain judgments. As of December 26, 2020, the Company was in compliance with all financial covenants.

Leases

Leases	12 Months Ended
	Dec. 26, 2020
Leases [Abstract]
Leases	(11) Leases The Company determines whether an arrangement is a lease at inception. The Company has operating leases for office and retail space, as well as equipment. The Company's leases have remaining terms of 0.3 years to 8.8 years, some of which include options to extend the lease term for up to ten years. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available on the commencement date in determining the present value of lease payments. The Company has lease agreements that contain both lease and non-lease components. For real estate leases, The Company accounts for lease components together with non-lease components (e.g., common-area maintenance). Components of lease expense were as follows (in thousands): Year Ended December 26, December 28, Operating lease cost (a) $ 2,439 $ 2,113 Variable lease cost (b) 609 507 Total lease cost $ 3,048 $ 2,620 (a) Includes short-term leases, which are immaterial. (b) Primarily related to adjustments for inflation, common area maintenance, and property tax. Supplemental cash flow information related to leases is as follows (in thousands): Year Ended December 26, December 28, Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 2,426 $ 2,263 Non-cash activity: Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,011 $ 1,352 Supplemental balance sheet information related to our operating leases is as follows (in thousands): Year Ended Balance Sheet Classification December 26, 2020 December 28, 2019 Right-of-use assets Other non-current assets $ 6,294 $ 8,242 Current lease liabilities Other current liabilities 2,385 1,806 Non-current lease liabilities Other non-current liabilities 5,476 7,976 Weighted average lease term and discount rate information related to leases was as follows: Year Ended December 26, December 28, Weighted average remaining lease term of operating leases 4.0 years 5.4 years Weighted average discount rate of operating leases 3.58 % 4.77 % Maturities of lease liabilities by fiscal year are as follows (in thousands): Fiscal year 2021 $ 2,614 Fiscal year 2022 1,902 Fiscal year 2023 1,734 Fiscal year 2024 935 Fiscal year 2025 698 Thereafter 594 Total future minimum lease payments 8,477 Less: imputed interest (616) Total lease liabilities $ 7,861

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 26, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(12) Commitments and Contingencies The Company is subject to legal proceedings, claims and liabilities, such as employment-related claims and other cases, which arise in the ordinary course of business and are generally covered by insurance. In the opinion of management, the amount of ultimate liability with respect to those actions should not have a material adverse impact on financial position, results of operations or cash flows. Many of the food products the Company purchases are subject to changes in the price and availability of food commodities, including chicken. The Company works with its suppliers and uses a mix of forward pricing protocols for certain items under which we agree with our supplier on fixed prices for deliveries at some time in the future, fixed pricing protocols under which we agree on a fixed price with our supplier for the duration of that protocol, and formula pricing protocols under which the prices we pay are based on a specified formula related to the prices of the goods, such as spot prices. The Company’s use of any forward pricing arrangements varies substantially from time to time and these arrangements tend to cover relatively short periods (i.e., typically twelve months or less). Such contracts are used in the normal purchases of our food products and not for speculative purposes. The Company does not enter into futures contracts or other derivative instruments.

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 26, 2020
Retirement Benefits [Abstract]
Employee Benefit Plan	(13) Employee Benefit Plan The Company sponsors a 401(k) profit sharing plan for all employees who are eligible based upon age and length of service. The Company made matching contributions of approximately $735,000, $594,000, and $556,000 for fiscal years 2020, 2019, and 2018, respectively.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	(14) Stock-Based Compensation The Wingstop Inc. 2015 Omnibus Equity Incentive Plan (the "2015 Plan"), was adopted in June 2015 and is currently the only plan under which the Company currently grants awards. The 2015 Plan provides for the grant or award of stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance unit awards, performance share awards, cash-based awards and other stock-based awards to employees, directors, and other eligible persons. As of December 26, 2020, there were approximately 1.6 million shares available for future grants under the 2015 Plan. Prior to the 2015 Plan, the Company granted awards under the Wing Stop Holding Corporation 2010 Stock Option Plan. The options and restricted stock awards granted under the 2015 Plan are subject to either service-based or performance-based vesting. Service-based awards contain a service-based, or time-based, vesting provision. Performance-based options contain performance-based vesting provisions based on the Company meeting certain Adjusted EBITDA profitability targets or sales targets for the vesting period. In the event of a change in control of the Company (as defined in the 2015 Plan), unless otherwise determined by the board of directors or the Compensation Committee of the board of directors, each outstanding award will become fully vested immediately prior to the change in control and shall be exchanged for cash. Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite employee service period (generally the vesting period of the grant). The Company recognized approximately $8.6 million, $7.0 million, and $3.7 million in stock compensation expense for fiscal years 2020, 2019, and 2018, respectively, with a corresponding increase to additional paid-in-capital. Stock compensation expense is included in Selling, general and administrative expenses in the Consolidated Statements of Operations. Stock Options The following table summarizes stock option activity (in thousands, except per share data): Stock Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Term Outstanding - December 28, 2019 134 $ 5.72 $ 10,801 3.8 Options granted 68 79.41 Options exercised (133) 5.52 Outstanding - December 26, 2020 69 $ 78.40 $ 4,291 9.1 The total grant-date fair value of stock options vested during each of the fiscal years 2020, 2019, and 2018 was $0.2 million, $0.5 million, and $0.5 million, respectively. The total intrinsic value of stock options exercised was $15.8 million, $6.7 million, and $7.6 million for fiscal years 2020, 2019, and 2018, respectively. A summary of the status of non-vested options as of December 26, 2020 and the changes during the period then ended is presented below (in thousands, except per share data): Stock Options Weighted average grant-date fair value Non-vested options - December 28, 2019 17 $ 10.20 Granted 68 22.99 Vested (17) 10.00 Non-vested options - December 26, 2020 68 $ 23.01 As of December 26, 2020, there was $1.3 million of total unrecognized stock compensation expense related to non-vested stock options, which will be recognized over a weighted average period of approximately 2.2 years. The estimated fair value of each option granted is calculated using the Black-Scholes option-pricing model. Expected volatilities are based on volatilities from publicly traded companies operating in the Company’s industry. The expected life of options granted is management’s best estimate using recent and expected transactions. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The weighted-average assumptions used in the model were as follows: 2020 Risk-free interest 0.7% Expected life 4.2 years Expected dividend yield 0.5% Volatility 34.4% The Company used the simplified method for determining the expected life of the options. In addition, assumptions made regarding forfeitures in determining the remaining unamortized share-based compensation are re-evaluated periodically. Restricted Stock Units and Performance Stock Units The following table summarizes activity related to restricted stock units and performance stock units (“PSUs”) (in thousands, except per share data): Restricted Stock Units Weighted Average Grant Date Fair Value Performance Stock Units Weighted Average Grant Date Fair Value Outstanding - December 28, 2019 82 $ 52.73 169 $ 55.92 Units granted 27 94.12 44 86.03 Units vested (41) 44.62 (52) 41.54 Units canceled (14) 64.59 (8) 66.04 Outstanding - December 26, 2020 54 $ 76.27 153 $ 69.08 The fair value of restricted stock units and PSUs is based on the closing price on the date of grant. The restricted stock units granted during fiscal year 2020 vest over a three year service period. As of December 26, 2020, total unrecognized compensation expense related to unvested restricted stock units was $2.8 million, which is expected to be recognized over a weighted-average period of 1.5 years. During fiscal year 2019, there was a modification to certain awards resulting in additional compensation expense of $0.7 million over the remaining term of the awards. The Company granted 44,458 PSUs during fiscal year 2020 that are based on the outcome of certain performance criteria. Of the total PSUs granted, 3,259 are subject to a service condition and a performance vesting condition based on the achievement of certain Adjusted EBITDA targets, as defined by the 2015 Plan, over a performance period of three years. The remaining 41,199 PSUs are subject to the achievement of certain Adjusted EBITDA targets over a performance period of three years. The maximum vesting percentage that could be realized for each of these PSUs is 250%, based on the level of performance achieved for the respective awards, as well as a market vesting condition linked to the level of total stockholder return received by the Company ’ s stockholders during the performance period measured against the companies in the S&P 600 Restaurant Index (“TSR PSUs”). The TSR PSUs were valued based on a Monte Carlo simulation model to reflect the impact of the total stockholder return market condition, resulting in a grant-date fair value range of $0.00 to $311.72 per unit based on the outcome of the performance condition. The probability of satisfying a market condition is considered in the estimation of the grant-date fair value for TSR PSUs and the compensation cost is not reversed if the market condition is not achieved, provided the requisite service has been provided. During fiscal year 2019, the Company granted 86,333 PSUs that are based on the outcome of certain performance criteria. Of the total PSUs granted, 46,333 are subject to a service condition and a performance vesting condition based on the achievement of certain Adjusted EBITDA targets, as defined by the 2015 Plan, over a performance period of one During fiscal year 2018, the Company granted 15,290 PSUs that are subject to a service condition and a performance vesting condition based on the level of new sales growth achieved over the performance period. The maximum vesting percentage that could be realized for each of these PSUs is 500%, based on the level of performance achieved for the respective awards, as well as a market vesting condition linked to the level of total stockholder return. These awards had a grant-date fair value range of $0.00 to $179.27 per unit based on the outcome of the performance condition. The compensation expense related to these PSUs is recognized over the vesting period when the achievement of the performance conditions becomes probable. The total compensation cost for the PSUs is determined based on the most likely outcome of the performance condition and the number of awards expected to vest. As of December 26, 2020, total unrecognized compensation expense related to unvested PSUs was $8.2 million.

Restaurant Transactions

Restaurant Transactions	12 Months Ended
	Dec. 26, 2020
Business Combinations [Abstract]
Restaurant Transactions	(15) Restaurant Transactions During fiscal year 2020, the Company completed the sale of seven company-owned restaurants to two existing franchisees for aggregate proceeds of $4.8 million. In connection with the sale of the restaurants, the Company recorded a $3.2 million pre-tax gain on the sale of the related assets and liabilities, which was net of a $58,000 reduction in goodwill. The net gain on these restaurant sales was recorded in Gain on sale of restaurants and other expense, net in the Consolidated Statements of Operations. The Company acquired six restaurants from franchisees during each of the fiscal years ended December 26, 2020 and December 29, 2018, and one restaurant during the fiscal year ended December 28, 2019. The total purchase prices are reflected in the table below and were all funded by cash flows from operations. The following table summarizes the allocations of the purchase prices to the estimated fair values of assets acquired and liabilities assumed as a result of these acquisitions (in thousands): Fiscal Year December 26, 2020 December 28, 2019 December 29, 2018 Working capital $ 40 $ — $ 49 Property and equipment 652 90 664 Reacquired franchise rights 2,483 610 2,705 Goodwill 3,560 533 3,098 Total purchase price $ 6,735 $ 1,233 $ 6,516 The results of operations of these locations are included in the Consolidated Statements of Operations since the date of acquisition. The acquisitions were accounted for as business combinations. The excess of the purchase price over the aggregate fair value of assets acquired was allocated to goodwill and is attributable to the benefits expected as a result of the acquisition, including sales and growth opportunities. All of the goodwill from the acquisitions is expected to be deductible for federal income tax purposes. Pro-forma financial information of the combined entities is not presented due to the immaterial impact of the financial results of the acquired restaurants on our consolidated financial statements. The fair value measurement of tangible and intangible assets and liabilities as of the acquisition date is based on significant inputs not observed in the market and thus represents a Level 3 fair value measurement. Fair value measurements for reacquired franchise rights were determined using the income approach. Fair value measurements for property and equipment were determined using the cost approach.

Revenue from Contracts with Cus

Revenue from Contracts with Customer	12 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	(16) Revenue from Contracts with Customers The following table represents a disaggregation of revenue from contracts with customers for the fiscal years 2020, 2019, and 2018 (in thousands): Fiscal Year December 26, December 28, December 29, Royalty revenue $ 98,554 $ 75,106 $ 61,882 Advertising fees 74,930 55,932 34,484 Franchise fees 3,656 4,087 2,924 Franchise fee, development fee, and international territory fee payments received by the Company are recorded as deferred revenue on the Consolidated Balance Sheets, which represents a contract liability. Deferred revenue is reduced as fees are recognized in revenue over the term of the franchise license for the respective restaurant. As the term of the franchise license is typically ten years, substantially all of the franchise fee revenue recognized in the current fiscal year was included in the

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 26, 2020
Accounting Policies [Abstract]
Principles of Consolidation	(a) Principles of Consolidation The accompanying consolidated financial statements include the accounts of Wingstop Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year End	(b) Fiscal Year End
Use of Estimates	(c) Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions, primarily related to long-lived asset valuation, indefinite and finite lived intangible asset valuation, income taxes, leases, stock-based compensation, contingencies, and common stock equity valuations. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the period. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could differ from those estimates.
Comprehensive Income (Loss)	(d) Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income is the same as net income for all periods presented. Therefore, a separate statement of comprehensive income (loss) is not included in the accompanying consolidated financial statements.
Cash, Cash Equivalents, and Restricted Cash	(e) Cash, Cash Equivalents, and Restricted Cash The Company continually monitors its positions with, and the credit quality of, the financial institutions in which it maintains its deposits and investments. As of December 26, 2020 and December 28, 2019, the Company maintained balances in various cash accounts in excess of federally insured limits. All highly liquid instruments purchased with an original maturity of three months or less are considered cash equivalents. Restricted cash includes cash and cash equivalents held for future principal and interest payments as required by the Company's debt agreements (see Note 10). The Company also has Advertising fund restricted cash, which can only be used for activities that promote the Wingstop brand. Cash, cash equivalents, and restricted cash within the Consolidated Balance Sheets that are included in the Consolidated Statements of Cash Flows as of December 26, 2020 and December 28, 2019 were as follows (in thousands): December 26, 2020 December 28, 2019 Cash and cash equivalents $ 40,858 $ 12,849 Restricted cash 4,815 4,790 Restricted cash, included in Advertising fund assets, restricted 13,597 3,536 Total cash, cash equivalents, and restricted cash $ 59,270 $ 21,175
Accounts Receivable	(f) Accounts Receivable Accounts receivable, net of allowance for doubtful accounts, consists primarily of accrued royalty fee receivables, collected weekly in arrears, and vendor rebates. Management determines the allowance for doubtful accounts based on historical losses and current economic conditions. On a continuing basis, management analyzes delinquent receivables, which are charged off against the existing allowance account when determined to be uncollectible.
Inventories	(g) Inventories Inventories, which consist of food and beverage products, paper goods and supplies, are valued at the lower of cost (first-in, first-out) or market.
Property and Equipment	(h) Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Property and equipment is depreciated based on the straight-line method over the following estimated useful lives: Property and Equipment Estimated Useful Lives Building 40 years Leasehold and other improvements Lesser of the expected lease term or useful life Equipment, furniture and fixtures 3 to 7 years Computer software 3 years At the time property and equipment are retired, the asset and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in earnings. The Company expenses repair and maintenance costs that maintain the appearance and functionality of the restaurant but do not extend the useful life of any restaurant asset. Improvements to leased properties are depreciated over the shorter of their useful life or the lease term, which includes a fixed, non-cancelable lease term plus any reasonably assured renewal periods.
Impairment or Disposal of Long-Lived Assets	(i) Impairment or Disposal of Long-Lived Assets Property and equipment and finite-life intangible assets are reviewed for impairment periodically and whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. The Company’s assessment of recoverability of property and equipment and finite-lived intangible assets is performed at the component level, which is generally an individual restaurant and requires judgment and an estimate of future restaurant generated cash flows. The Company’s estimates of fair values are based on the best information available and require the use of estimates, judgments, and projections. The Company did not record any impairment losses on long-lived assets in fiscal years 2020, 2019, or 2018.
Goodwill and Indefinite-Lived Intangible Assets	(j) Goodwill and Indefinite-Lived Intangible Assets The Company’s indefinite-lived intangible assets consist of goodwill and trademarks, which are not subject to amortization. On an annual basis (October 1 st of each fiscal year) and whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable, the Company reviews the recoverability of goodwill and indefinite-lived intangible assets. No indications of impairment were identified during fiscal years 2020, 2019, or 2018. It is possible that changes in circumstances or changes in management’s judgments, assumptions and estimates could result in an impairment charge of a portion or all of its goodwill or other intangible assets.
Revenue Recognition	(k) Revenue Recognition Revenues consist primarily of royalties, national advertising fund (the "Ad Fund") contributions, initial and renewal franchise fees, and upfront fees from development agreements and international territory agreements. The Company's performance obligations under its franchise agreements consist of (a) a franchise license, (b) pre-opening services, such as training, and (c) ongoing services, such as management of the Ad Fund contributions, development of training materials and menu items, and restaurant monitoring. These performance obligations are highly interrelated, so they are not considered to be individually distinct and therefore are accounted for as a single performance obligation, which is satisfied by providing a right to use the Company's intellectual property over the term of each franchise agreement. Franchise fee, development fee and international territory fee payments received by the Company before the restaurant opens are recorded as deferred revenue in the Consolidated Balance Sheets. Royalties, including franchisee contributions to the Ad Fund, are calculated as a percentage of franchise restaurant sales over the term of the franchise agreement. Initial and renewal franchise fees are payable by the franchisee prior to the restaurant opening or at the time of a renewal of an existing franchise agreement. The Company's franchise agreement royalties, inclusive of Ad Fund contributions, represent sales-based royalties that are related entirely to the Company's performance obligation under the franchise agreement and are recognized as franchised restaurant sales occur. Additionally, initial and renewal franchise fees are recognized as revenue on a straight-line basis over the term of the respective agreement. The Company's performance obligation under development agreements and international territory agreements generally consists of an obligation to grant exclusive development rights over a stated term. These development rights are not distinct from franchise agreements, so upfront fees paid by franchisees for development rights are apportioned to each franchised restaurant opened and accounted for as an initial franchise fee. The Company records food and beverage revenues from company-owned restaurants upon sale to the customer. The Company collects and remits sales, food and beverage, alcoholic beverage, and hospitality taxes on transactions with customers and reports such amounts under the net method in its Consolidated Statements of Operations. Accordingly, these taxes are not included in gross revenue.
Consideration from Vendors	(l) Consideration from Vendors The Company has entered into food and beverage supply agreements with certain major vendors. Pursuant to the terms of these arrangements, rebates are provided to the Company from the vendors based upon the dollar volume of purchases for company-owned restaurants and franchised restaurants. Additionally, the Company receives certain incentives from vendors to sponsor its annual franchisee convention. These incentives are recognized as earned throughout the year and are classified as a reduction in Cost of sales with any consideration received in excess of the total expense of the vendor’s products included within Royalty revenue, franchise fees and other within the Consolidated Statements of Operations. The incentives recognized were approximately $7.9 million, $10.6 million, and $8.2 million, during fiscal years 2020, 2019, and 2018, respectively, of which $1.3 million, $1.6 million, and $1.2 million was classified as a reduction in Cost of sales during fiscal years 2020, 2019, and 2018, respectively.
Advertising Expenses	(m) Advertising Expenses The Company administers the Ad Fund, for which a percentage of gross sales is collected from domestic restaurant franchisees and company-owned restaurants to be used for various forms of advertising for the Wingstop brand. Under this program, domestic franchisees contributed 4% of gross sales for fiscal years 2020 and 2019, and 3% for fiscal year 2018. The Company administers and directs the development of all advertising and promotion programs in the Ad Fund for which it collects advertising contributions in accordance with the provisions of its franchise agreements. The Company has a contractual obligation with regard to these advertising contributions. The Company consolidates and reports all assets and liabilities of the Ad Fund as restricted assets of the Ad Fund and liabilities of the Ad Fund within current assets and current liabilities, respectively, in the Consolidated Balance Sheets. The assets and liabilities of the Ad Fund consist primarily of cash, receivables, accrued expenses, and other liabilities. Pursuant to the Company’s franchise agreements, use of Ad Fund contributions is restricted to advertising, public relations, merchandising, similar activities, and administrative expenses to increase sales and further enhance the public reputation of the Wingstop brand. The aforementioned administrative expenses may also include personnel expenses and allocated costs incurred by the Company that are directly associated with administering the Ad Fund, as outlined in the provisions of the applicable franchise agreements. The Company expenses the production costs of advertising in the period in which the advertising first occurs. All other advertising and promotional costs are expensed in the period incurred. When contributions to the Ad Fund exceed the related advertising expenses, advertising costs are accrued up to the amount of the related contributions. Ad Fund contributions and expenditures are reported on a gross basis in the Consolidated Statements of Operations, which are largely offsetting and therefore do not impact the Company's reported net income in years when contributions to the Ad Fund exceed advertising expenses incurred. Administrative support services and compensation expenses of employees that provide services directly to the Ad Fund, are included in Selling, general and administrative expenses (“SG&A”) in the Consolidated Statements of Operations. Advertising expenses incurred by company-owned restaurants are included within Cost of sales in the Consolidated Statements of Operations. Company-owned restaurants incurred advertising expenses of $3.3 million, $2.9 million, and $1.9 million in fiscal years 2020, 2019, and 2018, respectively.
Leases	(n) Leases two
Stock-Based Compensation	(o) Stock-Based Compensation
Income Taxes	(p) Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, a deferred tax asset or liability is recognized for the estimated future tax effects attributable to temporary differences between the financial statement basis and the tax basis of assets and liabilities as well as tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period of the change. The Company files a consolidated federal income tax return including all of its subsidiaries. Judgment is required in evaluating the Company’s uncertain tax positions and determining the Company’s income tax expense. The Company assesses the income tax position and records the liabilities for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date.
Business Segments	(q) Business Segments Historically, the Company had two reporting segments: franchise operations and company restaurant operations. In accordance with Accounting Standards Codification 280 “Segment Reporting”, the Company uses the management approach for determining its reportable segments. The management approach is based upon the way management reviews performance and allocates resources. During the second fiscal quarter of 2020, the Company reevaluated its operating segments and determined it has one operating segment and one reporting segment due to changes in how the Company’s chief operating decision maker assesses the Company’s performance and allocates resources.
Recent Accounting Pronouncements	(r) Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2016-02, Leases (Topic 842), as amended (“ASU 2016-02”). ASU 2016-02 amended the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new guidance also required additional disclosures about leases. The Company adopted the requirements of the new standard as of the first day of fiscal year 2019 using the modified retrospective approach without restating comparative periods. As part of our adoption, we elected the package of practical expedients, as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classification of leases. In addition, we elected not to separate non-lease components for our real estate leases. The adoption of the new standard resulted in the recording of a right-of-use asset of approximately $8.5 million and lease liabilities of approximately $10.3 million, and had an immaterial impact on retained earnings as of the beginning of fiscal year 2019. The standard did not materially impact our Consolidated Statements of Operations and had no impact on cash flows.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 26, 2020
Accounting Policies [Abstract]
Schedule of Cash, Cash Equivalents, and Restricted Cash	Cash, cash equivalents, and restricted cash within the Consolidated Balance Sheets that are included in the Consolidated Statements of Cash Flows as of December 26, 2020 and December 28, 2019 were as follows (in thousands): December 26, 2020 December 28, 2019 Cash and cash equivalents $ 40,858 $ 12,849 Restricted cash 4,815 4,790 Restricted cash, included in Advertising fund assets, restricted 13,597 3,536 Total cash, cash equivalents, and restricted cash $ 59,270 $ 21,175
Schedule of Property and Equipment Estimated Useful Lives	Property and equipment is depreciated based on the straight-line method over the following estimated useful lives: Property and Equipment Estimated Useful Lives Building 40 years Leasehold and other improvements Lesser of the expected lease term or useful life Equipment, furniture and fixtures 3 to 7 years Computer software 3 years Property and equipment, net consisted of the following (in thousands): December 26, December 28, Building 15,405 — Construction in progress 2,853 16,188 Equipment, furniture and fixtures 14,633 15,568 Leasehold and other improvements 9,876 9,021 Land 2,828 2,828 Property and equipment, gross 45,595 43,605 Less: accumulated depreciation (17,647) (15,763) Property and equipment, net $ 27,948 $ 27,842

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 26, 2020
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic Shares Outstanding to Diluted Shares Outstanding	Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands): Fiscal Year December 26, December 28, December 29, Basic weighted average shares outstanding 29,601 29,415 29,231 Dilutive shares 203 255 356 Diluted weighted average shares outstanding 29,804 29,670 29,587

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Debt	Fair value of debt is determined on a non-recurring basis, which results are summarized as follows (in thousands): Fair Value Hierarchy December 26, 2020 December 28, 2019 Carrying Value Fair Value Carrying Value Fair Value Securitized Financing Facility: 2020-1 Class A-2 Senior Secured Notes (1) Level 2 $ 480,000 $ 483,365 $ — $ — 2018-1 Class A-2 Senior Secured Notes (1) Level 2 $ — $ — $ 317,600 $ 331,247 (1) The fair value of long-term debt was estimated using available market information.

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	12 Months Ended
	Dec. 26, 2020
Receivables [Abstract]
Schedule of Accounts Receivable, net	Accounts receivables, net, consist of the following (in thousands): December 26, December 28, Vendor rebates receivable $ 1,944 $ 2,530 Royalties receivable (net of allowance for doubtful accounts of $1,053 and $24, respectively) 2,097 1,870 Gift card receivable 78 477 Other receivables, net 810 298 Accounts receivable, net $ 4,929 $ 5,175

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 26, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment is depreciated based on the straight-line method over the following estimated useful lives: Property and Equipment Estimated Useful Lives Building 40 years Leasehold and other improvements Lesser of the expected lease term or useful life Equipment, furniture and fixtures 3 to 7 years Computer software 3 years Property and equipment, net consisted of the following (in thousands): December 26, December 28, Building 15,405 — Construction in progress 2,853 16,188 Equipment, furniture and fixtures 14,633 15,568 Leasehold and other improvements 9,876 9,021 Land 2,828 2,828 Property and equipment, gross 45,595 43,605 Less: accumulated depreciation (17,647) (15,763) Property and equipment, net $ 27,948 $ 27,842

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following is a summary of goodwill balances and activity (in thousands): December 26, December 28, Balance, beginning of period $ 50,188 $ 49,655 Acquisition of restaurants, net 3,502 533 Balance, end of period $ 53,690 $ 50,188
Schedule of Intangible Assets, Excluding Goodwill	Intangible assets, excluding goodwill, consisted of the following (in thousands): December 26, December 28, Weighted Average Amortization Period (in years) Intangible assets: Trademarks $ 32,700 $ 32,700 Indefinite-lived assets 32,700 32,700 Customer relationships 26,300 26,300 20.0 Franchise rights (1) 8,121 5,638 6.3 Proprietary software (1) 115 115 5.0 Noncompete agreements (1) 250 250 2.8 Less: accumulated amortization (18,155) (15,855) Definite-lived assets 16,631 16,448 16.7 Intangible assets, net $ 49,331 $ 49,148 (1) Included within Other non-current assets net of associated accumulated amortization within the Consolidated Balance Sheets.
Schedule of Intangible Assets, Future Amortization Expense	Estimated amortization expense, principally related to customer relationships, for the five succeeding fiscal years and the aggregate thereafter is (in thousands): Fiscal year 2021 $ 2,602 Fiscal year 2022 2,385 Fiscal year 2023 2,095 Fiscal year 2024 1,817 Fiscal year 2025 1,683 Thereafter 6,049 Total $ 16,631

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 26, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): December 26, December 28, Prepaid expenses $ 1,534 $ 1,467 Federal income tax receivable 3,602 667 Inventories 396 315 Total $ 5,532 $ 2,449
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): December 26, December 28, Accrued payroll and incentive compensation $ 11,175 $ 7,512 Current portion of deferred revenues 3,221 2,622 Short term lease liability 2,385 1,806 Accrued interest 2,222 1,055 Gift card liability 1,363 1,758 Other accrued liabilities 6,363 6,701 Total $ 26,729 $ 21,454

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax expense for the fiscal years 2020, 2019, and 2018 consisted of the following (in thousands): Fiscal Year December 26, December 28, December 29, Current expense Federal $ 2,454 $ 4,286 $ 4,932 State 996 1,170 1,089 Foreign 191 259 241 Deferred expense (benefit) Federal 42 (579) (946) State (46) 153 (108) Income tax expense $ 3,637 $ 5,289 $ 5,208
Schedule of US Federal Income Tax Rate Reconciliation	A reconciliation of income tax at the U.S. federal statutory tax rate (using a statutory tax rate of 21%) to income tax expense for fiscal years 2020, 2019, and 2018 in dollars is as follows (in thousands): Fiscal Year December 26, December 28, December 29, Expected income tax expense at statutory rate $ 5,658 $ 5,411 $ 5,655 Excess tax benefits from equity compensation (3,963) (1,777) (1,669) Non-deductible expenses 690 942 207 State tax expense, net of federal benefit 620 985 520 Foreign tax expense 191 259 241 Foreign tax credits (191) (259) (241) Increase (decrease) in unrecognized tax benefit 102 (128) 322 Other 530 (144) 173 Income tax expense $ 3,637 $ 5,289 $ 5,208
Schedule of Deferred Tax Assets (Liabilities)	The components of deferred tax assets (liabilities) were as follows (in thousands): December 26, 2020 December 28, 2019 Deferred tax assets: Deferred revenue $ 4,873 $ 4,510 Accrued incentive compensation 1,089 262 Stock based compensation 738 776 Deferred rent 358 394 Intangible assets 82 99 Other 628 1,467 Net operating loss carryforwards and credits 987 869 Valuation allowance (577) (577) 8,178 7,800 Deferred tax liabilities: Intangible assets (10,599) (10,820) Property and equipment (2,059) (1,465) (12,658) (12,285) Net deferred tax liability $ (4,480) $ (4,485)
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance as of December 30, 2017 $ 680 Additions for tax positions of prior years 78 Subtractions for tax positions of prior years — Additions for tax positions of current year 155 Subtractions for tax positions of current year — Balance as of December 29, 2018 913 Additions for tax positions of prior years 187 Subtractions for tax positions of prior years (330) Additions for tax positions of current year 929 Subtractions for tax positions of current year — Balance as of December 28, 2019 1,699 Additions for tax positions of prior years — Subtractions for tax positions of prior years (959) Additions for tax positions of current year 54 Subtractions for tax positions of current year — Balance as of December 26, 2020 $ 794

Debt Obligations (Tables)

Debt Obligations (Tables)	12 Months Ended
	Dec. 26, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following components (in thousands): December 26, 2020 December 28, 2019 2020-1 Class A-2 Senior Secured Notes $ 480,000 $ — 2018-1 Class A-2 Senior Secured Notes — 317,600 Debt issuance costs, net of amortization (9,467) (6,731) Less: current portion of debt (3,600) (3,200) Long-term debt, net $ 466,933 $ 307,669
Schedule of Maturities of Long-term Debt	As of December 26, 2020, the scheduled principle payments on debt were as follows (in thousands): Fiscal year 2021 $ 3,600 Fiscal year 2022 4,800 Fiscal year 2023 4,800 Fiscal year 2024 4,800 Fiscal year 2025 4,800 Thereafter 457,200 Total $ 480,000

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 26, 2020
Leases [Abstract]
Schedule of Lease Expense	Components of lease expense were as follows (in thousands): Year Ended December 26, December 28, Operating lease cost (a) $ 2,439 $ 2,113 Variable lease cost (b) 609 507 Total lease cost $ 3,048 $ 2,620 (a) Includes short-term leases, which are immaterial. (b) Primarily related to adjustments for inflation, common area maintenance, and property tax. Supplemental cash flow information related to leases is as follows (in thousands): Year Ended December 26, December 28, Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 2,426 $ 2,263 Non-cash activity: Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,011 $ 1,352
Schedule of supplemental balance sheet information related to operating leases	Supplemental balance sheet information related to our operating leases is as follows (in thousands): Year Ended Balance Sheet Classification December 26, 2020 December 28, 2019 Right-of-use assets Other non-current assets $ 6,294 $ 8,242 Current lease liabilities Other current liabilities 2,385 1,806 Non-current lease liabilities Other non-current liabilities 5,476 7,976
Schedule of weighted average lease term and discount rate information	Weighted average lease term and discount rate information related to leases was as follows: Year Ended December 26, December 28, Weighted average remaining lease term of operating leases 4.0 years 5.4 years Weighted average discount rate of operating leases 3.58 % 4.77 %
Schedule of future maturities of lease liabilities	Maturities of lease liabilities by fiscal year are as follows (in thousands): Fiscal year 2021 $ 2,614 Fiscal year 2022 1,902 Fiscal year 2023 1,734 Fiscal year 2024 935 Fiscal year 2025 698 Thereafter 594 Total future minimum lease payments 8,477 Less: imputed interest (616) Total lease liabilities $ 7,861

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity (in thousands, except per share data): Stock Options Weighted Average Exercise Price Aggregate Intrinsic Value Weighted Average Remaining Term Outstanding - December 28, 2019 134 $ 5.72 $ 10,801 3.8 Options granted 68 79.41 Options exercised (133) 5.52 Outstanding - December 26, 2020 69 $ 78.40 $ 4,291 9.1
Schedule of Non-vested Options Activity	A summary of the status of non-vested options as of December 26, 2020 and the changes during the period then ended is presented below (in thousands, except per share data): Stock Options Weighted average grant-date fair value Non-vested options - December 28, 2019 17 $ 10.20 Granted 68 22.99 Vested (17) 10.00 Non-vested options - December 26, 2020 68 $ 23.01
Schedule of Weighted-average Option Valuation Assumptions	The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The weighted-average assumptions used in the model were as follows: 2020 Risk-free interest 0.7% Expected life 4.2 years Expected dividend yield 0.5% Volatility 34.4%
Schedule of Restricted and Performance Stock Unit Activity	The following table summarizes activity related to restricted stock units and performance stock units (“PSUs”) (in thousands, except per share data): Restricted Stock Units Weighted Average Grant Date Fair Value Performance Stock Units Weighted Average Grant Date Fair Value Outstanding - December 28, 2019 82 $ 52.73 169 $ 55.92 Units granted 27 94.12 44 86.03 Units vested (41) 44.62 (52) 41.54 Units canceled (14) 64.59 (8) 66.04 Outstanding - December 26, 2020 54 $ 76.27 153 $ 69.08

Restaurant Transactions (Tables

Restaurant Transactions (Tables)	12 Months Ended
	Dec. 26, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Allocation for Acquisitions	The following table summarizes the allocations of the purchase prices to the estimated fair values of assets acquired and liabilities assumed as a result of these acquisitions (in thousands): Fiscal Year December 26, 2020 December 28, 2019 December 29, 2018 Working capital $ 40 $ — $ 49 Property and equipment 652 90 664 Reacquired franchise rights 2,483 610 2,705 Goodwill 3,560 533 3,098 Total purchase price $ 6,735 $ 1,233 $ 6,516

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table represents a disaggregation of revenue from contracts with customers for the fiscal years 2020, 2019, and 2018 (in thousands): Fiscal Year December 26, December 28, December 29, Royalty revenue $ 98,554 $ 75,106 $ 61,882 Advertising fees 74,930 55,932 34,484 Franchise fees 3,656 4,087 2,924

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Overview (Details)	12 Months Ended
	Dec. 26, 2020restaurant
Franchisor Disclosure [Line Items]
Number of restaurants	1,538
Franchised Units
Franchisor Disclosure [Line Items]
Number of restaurants	1,506
Concentration risk percentage	98.00%
Franchised Units | Non-US
Franchisor Disclosure [Line Items]
Number of restaurants	179
Entity Operated Units
Franchisor Disclosure [Line Items]
Number of restaurants	32

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 40,858	$ 12,849
Restricted cash	4,815	4,790
Restricted cash, included in Advertising fund assets, restricted	13,597	3,536
Total cash, cash equivalents, and restricted cash	$ 59,270	$ 21,175	$ 20,940	$ 6,392

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Property and Equipment [Line Items]
Impairment of Long-Lived Assets	$ 0	$ 0	$ 0
Goodwill impairment	$ 0	$ 0	$ 0
Building
Property and Equipment [Line Items]
Building, equipment, furniture and fixtures useful life	40 years
Equipment, furniture and fixtures | Minimum
Property and Equipment [Line Items]
Building, equipment, furniture and fixtures useful life	3 years
Equipment, furniture and fixtures | Maximum
Property and Equipment [Line Items]
Building, equipment, furniture and fixtures useful life	7 years
Computer software
Property and Equipment [Line Items]
Computer software useful life	3 years

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Consideration from Vendors (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Franchisor Disclosure [Line Items]
Incentives from vendors recognized	$ 7.9	$ 10.6	$ 8.2
Cost of Sales
Franchisor Disclosure [Line Items]
Incentives from vendors recognized	$ 1.3	$ 1.6	$ 1.2

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Advertising Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Franchisor Disclosure [Line Items]
Percentage of revenue collected for advertising fund	4.00%	4.00%	3.00%
Advertising expenses	$ 69,428	$ 52,891	$ 33,699
Cost of Sales
Franchisor Disclosure [Line Items]
Advertising expenses	$ 3,300	$ 2,900	$ 1,900

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Leases (Details)	12 Months Ended
	Dec. 26, 2020
Minimum
Operating Leased Assets [Line Items]
Lease possession period before restaurant's opening date (in months)	2 months
Maximum
Operating Leased Assets [Line Items]
Lease possession period before restaurant's opening date (in months)	3 months

Basis of Presentation and Sig_9

Basis of Presentation and Significant Accounting Policies - Business Segments (Details) - segment	3 Months Ended
	Jun. 27, 2020	Mar. 28, 2020
Segment Reporting [Abstract]
Number of reportable segments	1	2
Number of operating segments	1

Basis of Presentation and Si_10

Basis of Presentation and Significant Accounting Policies - Recent Accounting Pronouncements (Detail) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset	$ 6,294	$ 8,242
Lease liabilities	$ 7,861
Cumulative Effect, Period of Adoption, Adjustment | ASU 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset			$ 8,500
Lease liabilities			$ 10,300

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	29,601	29,415	29,231
Dilutive shares (in shares)	203	255	356
Diluted weighted average shares outstanding (in shares)	29,804	29,670	29,587
Equity awards outstanding (in shares)	1	3	3

Dividends (Details)

Dividends (Details) - USD ($)	Feb. 16, 2021	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Dividends Payable [Line Items]
Dividends paid per share (in usd per share)		$ 5.50		$ 6.54
Special Dividend
Dividends Payable [Line Items]
Dividends paid		$ 148,400,000	$ 0	$ 182,800,000
Dividends paid per share (in usd per share)		$ 5		$ 6.22
Quarterly Dividends
Dividends Payable [Line Items]
Dividends paid		$ 14,800,000	$ 11,700,000	$ 9,400,000
Dividends paid per share (in usd per share)		$ 0.50	$ 0.40	$ 0.32
Subsequent Event
Dividends Payable [Line Items]
Dividends payable	$ 4,200,000
Dividends payable per share (in usd per share)	$ 0.14

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Nonrecurring - Level 2 - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Reported Value Measurement | 2020-1 Class A-2 Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	$ 480,000	$ 0
Reported Value Measurement | 2018-1 Class A-2 Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	0	317,600
Estimate of Fair Value Measurement | 2020-1 Class A-2 Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	483,365	0
Estimate of Fair Value Measurement | 2018-1 Class A-2 Senior Secured Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument	$ 0	$ 331,247

Accounts Receivable, net (Detai

Accounts Receivable, net (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 4,929	$ 5,175
Allowance for doubtful accounts	1,053	24
Vendor rebates receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	1,944	2,530
Royalties receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	2,097	1,870
Gift card receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	78	477
Other receivables, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 810	$ 298

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Property and Equipment [Line Items]
Property and equipment, gross	$ 45,595	$ 43,605
Less: accumulated depreciation	(17,647)	(15,763)
Property and equipment, net	27,948	27,842
Depreciation	5,200	3,100	$ 2,100
Capital expenditures	6,052	22,486	$ 3,982
Building
Property and Equipment [Line Items]
Property and equipment, gross	15,405	0
Construction in progress
Property and Equipment [Line Items]
Property and equipment, gross	2,853	16,188
Equipment, furniture and fixtures
Property and Equipment [Line Items]
Property and equipment, gross	14,633	15,568
Leasehold and other improvements
Property and Equipment [Line Items]
Property and equipment, gross	9,876	9,021
Land
Property and Equipment [Line Items]
Property and equipment, gross	$ 2,828	2,828
Land and Building
Property and Equipment [Line Items]
Capital expenditures		$ 18,300

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill balance, beginning of period	$ 50,188	$ 49,655
Acquisition of restaurants, net	3,502	533
Goodwill balance, end of period	$ 53,690	$ 50,188

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Intangible Assets Excluding Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived assets	$ 32,700	$ 32,700
Finite-Lived Intangible Assets [Line Items]
Less: accumulated amortization	(18,155)	(15,855)
Definite-lived assets	16,631	16,448
Intangible assets, net	$ 49,331	49,148
Weighted Average Amortization Period (in years)	16 years 8 months 12 days
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived assets	$ 32,700	32,700
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Definite-lived assets, gross	$ 26,300	26,300
Weighted Average Amortization Period (in years)	20 years
Franchise rights
Finite-Lived Intangible Assets [Line Items]
Definite-lived assets, gross	$ 8,121	5,638
Weighted Average Amortization Period (in years)	6 years 3 months 18 days
Proprietary software
Finite-Lived Intangible Assets [Line Items]
Definite-lived assets, gross	$ 115	115
Weighted Average Amortization Period (in years)	5 years
Noncompete agreements
Finite-Lived Intangible Assets [Line Items]
Definite-lived assets, gross	$ 250	$ 250
Weighted Average Amortization Period (in years)	2 years 9 months 18 days

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 2,300	$ 2,400	$ 2,200
Fiscal year 2021	2,602
Fiscal year 2022	2,385
Fiscal year 2023	2,095
Fiscal year 2024	1,817
Fiscal year 2025	1,683
Thereafter	6,049
Total	$ 16,631	$ 16,448

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets and Other Current Liabilities - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Balance Sheet Related Disclosures [Abstract]
Prepaid expenses	$ 1,534	$ 1,467
Federal income tax receivable	3,602	667
Inventories	396	315
Total	$ 5,532	$ 2,449

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets and Other Current Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Balance Sheet Related Disclosures [Abstract]
Accrued payroll and incentive compensation	$ 11,175	$ 7,512
Current portion of deferred revenues	3,221	2,622
Short term lease liability	2,385	1,806
Accrued interest	2,222	1,055
Gift card liability	1,363	1,758
Other accrued liabilities	6,363	6,701
Total	$ 26,729	$ 21,454

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Current expense
Federal	$ 2,454	$ 4,286	$ 4,932
State	996	1,170	1,089
Foreign	191	259	241
Deferred expense (benefit)
Federal	42	(579)	(946)
State	(46)	153	(108)
Income tax expense	$ 3,637	$ 5,289	$ 5,208

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
US federal statutory tax rate	21.00%
Expected income tax expense at statutory rate	$ 5,658	$ 5,411	$ 5,655
Excess tax benefits from equity compensation	(3,963)	(1,777)	(1,669)
Non-deductible expenses	690	942	207
State tax expense, net of federal benefit	620	985	520
Foreign tax expense	191	259	241
Foreign tax credits	(191)	(259)	(241)
Increase (decrease) in unrecognized tax benefit	102	(128)	322
Other	530	(144)	173
Income tax expense	$ 3,637	$ 5,289	$ 5,208

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Asset and Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Deferred tax assets:
Deferred revenue	$ 4,873	$ 4,510
Accrued incentive compensation	1,089	262
Stock based compensation	738	776
Deferred rent	358	394
Intangible assets	82	99
Other	628	1,467
Net operating loss carryforwards and credits	987	869
Valuation allowance	(577)	(577)
Deferred tax assets, net of valuation allowance	8,178	7,800
Deferred tax liabilities:
Intangible assets	(10,599)	(10,820)
Property and equipment	(2,059)	(1,465)
Deferred tax liabilities	(12,658)	(12,285)
Deferred tax liabilities, net	$ (4,480)	$ (4,485)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Tax Credit Carryforward [Line Items]
Valuation allowance	$ 577	$ 577
Accrued interest and penalties on unrecognized tax benefits	325	316
Unrecognized tax benefits	794	1,699	$ 913	$ 680
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Operating loss carryforward	$ 23,300	$ 23,300

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of period	$ 1,699	$ 913	$ 680
Additions for tax positions of prior years	0	187	78
Subtractions for tax positions of prior years	(959)	(330)	0
Additions for tax positions of current year	54	929	155
Subtractions for tax positions of current year	0	0	0
Unrecognized tax benefits, end of period	$ 794	$ 1,699	$ 913

Debt Obligations - Components o

Debt Obligations - Components of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Oct. 31, 2020	Dec. 28, 2019	Nov. 30, 2018
Debt Instrument [Line Items]
Debt issuance costs, net of amortization	$ (9,467)		$ (6,731)
Less: current portion of debt	(3,600)		(3,200)
Long-term debt, net	466,933		307,669
2020-1 Class A-2 Senior Secured Notes
Debt Instrument [Line Items]
Gross debt	480,000		0
Debt issuance costs, net of amortization		$ (10,400)
2018-1 Class A-2 Senior Secured Notes
Debt Instrument [Line Items]
Gross debt	$ 0		$ 317,600
Debt issuance costs, net of amortization				$ (8,800)

Debt Obligations - Schedule of

Debt Obligations - Schedule of Maturities (Details) $ in Thousands	Dec. 26, 2020USD ($)
Debt Disclosure [Abstract]
Fiscal year 2021	$ 3,600
Fiscal year 2022	4,800
Fiscal year 2023	4,800
Fiscal year 2024	4,800
Fiscal year 2025	4,800
Thereafter	457,200
Total	$ 480,000

Debt Obligations - Securitized

Debt Obligations - Securitized Financing Facility (Details) - USD ($)	Oct. 31, 2020	Nov. 30, 2018	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity for line of credit	$ 50,000,000
Amount of debt drawn			$ 0	$ 0
Commitment fee on unused portion of note facility				0.30%
Debt issuance costs incurred			9,467,000	$ 9,467,000	$ 6,731,000
Repayment of debt				333,600,000	7,400,000	$ 364,858,000
Loss on debt extinguishment and refinancing transactions				13,665,000	$ 0	1,477,000
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity for line of credit			4,900,000	4,900,000
Amount of debt drawn			0	$ 0
2018-1 Class A-2 Senior Secured Notes
Debt Instrument [Line Items]
Senior secured note fixed interest rate (as a percent)		4.97%
Senior note term (in years)		five years
Debt face amount		$ 320,000,000
Maximum borrowing capacity for line of credit		20,000,000
Repayments of lines of credit		215,000,000
Debt issuance costs incurred		$ 8,800,000
Financing costs amortized						$ 1,500,000
Repayment of debt			332,800,000
Previously capitalized financing costs, expensed			5,400,000
Loss on debt extinguishment and refinancing transactions			13,700,000
Early repayment costs			$ 8,200,000
2020-1 Class A-2 Senior Secured Notes
Debt Instrument [Line Items]
Senior secured note fixed interest rate (as a percent)	2.84%
Senior note term (in years)	seven years
Debt face amount	$ 480,000,000
Debt issuance costs incurred	$ 10,400,000

Leases - Cost (Details)

Leases - Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 2,439	$ 2,113
Variable lease cost	609	507
Total lease cost	3,048	2,620
Cash paid for amounts included in the measurement of lease liabilities	2,426	2,263
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,011	$ 1,352
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	3 months 18 days
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	8 years 9 months 18 days
Lessee, Operating Lease, Renewal Term	10 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Right-of-use assets	$ 6,294	$ 8,242
Current lease liabilities	2,385	1,806
Non-current lease liabilities	$ 5,476	$ 7,976
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent

Leases - Weighted Average Infor

Leases - Weighted Average Information (Details)	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Weighted average remaining lease term of operating leases	4 years	5 years 4 months 24 days
Weighted average discount rate of operating leases	3.58%	4.77%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 26, 2020USD ($)
Leases [Abstract]
Fiscal year 2021	$ 2,614
Fiscal year 2022	1,902
Fiscal year 2023	1,734
Fiscal year 2024	935
Fiscal year 2025	698
Thereafter	594
Total future minimum lease payments	8,477
Less: imputed interest	(616)
Total lease liabilities	$ 7,861

Employee Benefit Plan (Details)

Employee Benefit Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Retirement Benefits [Abstract]
Matching contributions	$ 735	$ 594	$ 556

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Plan (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 8.6	$ 7	$ 3.7
Grant date fair value of stock options, vested	0.2	0.5	0.5
Intrinsic value of stock options	15.8	$ 6.7	$ 7.6
Stock-based compensation expense, unrecognized	$ 1.3
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, recognition period (in years)	2 years 2 months 12 days
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants (in shares)	1.6

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Stock Options
Options outstanding at beginning of period (in shares)	134
Options granted (in shares)	68
Options exercised (in shares)	(133)
Options outstanding at end of period (in shares)	69	134
Weighted Average Exercise Price
Weighted average exercise price of options outstanding at beginning of period (in usd per share)	$ 5.72
Weighted average exercise price of options granted (in usd per share)	79.41
Weighted average exercise price of options exercised (in usd per share)	5.52
Weighted average exercise price of options outstanding at end of period (in usd per share)	$ 78.40	$ 5.72
Aggregate Intrinsic Value and Weighted Average Remaining Term
Aggregate intrinsic value of options outstanding at beginning of period	$ 10,801
Aggregate intrinsic value of options outstanding at end of period	$ 4,291	$ 10,801
Weighted average remaining term of options outstanding (in years)	9 years 1 month 6 days	3 years 9 months 18 days

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-vested Shares (Details) shares in Thousands	12 Months Ended
	Dec. 26, 2020$ / sharesshares
Stock Options
Non-vested options at beginning of period (in shares) | shares	17
Options granted (in shares) | shares	68
Options vested (in shares) | shares	(17)
Non-vested options at end of period (in shares) | shares	68
Weighted average grant-date fair value
Weighted average fair value at grant-date of non-vested options at beginning of period (in usd per share) | $ / shares	$ 10.20
Weighted average fair value at grant-date of options granted (in usd per share) | $ / shares	22.99
Weighted average fair value at grant-date of options vested (in usd per share) | $ / shares	10
Weighted average fair value at grant-date of non-vested options at end of period (in usd per share) | $ / shares	$ 23.01

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted-average Option Valuation Assumptions (Details) - Employee Stock Option	12 Months Ended
	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest	0.70%
Expected life (in years)	4 years 2 months 12 days
Expected dividend yield	0.50%
Volatility	34.40%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units and Performance Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Restricted Stock Units
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs outstanding at beginning of period (in shares)	82,000
RSUs and PSUs granted (in shares)	27,000
RSUs and PSUs vested (in shares)	(41,000)
RSUs and PSUs canceled (in shares)	(14,000)
RSUs and PSUs outstanding at end of period (in shares)	54,000	82,000
Weighted average grant-date fair value
Weighted average fair value at grant date for RSUs and PSUs at beginning of period (in usd per share)	$ 52.73
Weighted average fair value at grant date for RSUs and PSUs granted (in usd per share)	94.12
Weighted average fair value at grant date for RSUs and PSUs vested (in usd per share)	44.62
Weighted average fair value at grant date for RSUs and PSUs canceled (in usd per share)	64.59
Weighted average fair value at grant date for RSUs and PSUs at end of period (in usd per share)	$ 76.27	$ 52.73
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Performance units, service period (in years)	3 years
Unrecognized compensation expense related to unvested RSUs	$ 2,800
Stock-based compensation expense, recognition period (in years)	1 year 6 months
Additional compensation expense	$ 700
PSUs granted (in shares)	27,000
Performance Stock Units
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs outstanding at beginning of period (in shares)	169,000
RSUs and PSUs granted (in shares)	44,458	86,333
RSUs and PSUs vested (in shares)	(52,000)
RSUs and PSUs canceled (in shares)	(8,000)
RSUs and PSUs outstanding at end of period (in shares)	153,000	169,000
Weighted average grant-date fair value
Weighted average fair value at grant date for RSUs and PSUs at beginning of period (in usd per share)	$ 55.92
Weighted average fair value at grant date for RSUs and PSUs granted (in usd per share)	86.03
Weighted average fair value at grant date for RSUs and PSUs vested (in usd per share)	41.54
Weighted average fair value at grant date for RSUs and PSUs canceled (in usd per share)	66.04
Weighted average fair value at grant date for RSUs and PSUs at end of period (in usd per share)	$ 69.08	$ 55.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Unrecognized compensation expense related to unvested RSUs	$ 8,200
PSUs granted (in shares)	44,458	86,333
PSUs based on EBITDA targets | Performance Stock Units
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs granted (in shares)	3,259	46,333
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Performance units, service period (in years)	3 years
PSUs granted (in shares)	3,259	46,333
PSUs based on EBITDA targets | Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Performance units, service period (in years)		1 year
PSU vesting percentage		0.00%
PSUs based on EBITDA targets | Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Performance units, service period (in years)		3 years
PSU vesting percentage		100.00%
PSUs based on operational targets | Performance Stock Units
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs granted (in shares)	41,199	40,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Performance units, service period (in years)	3 years
PSUs granted (in shares)	41,199	40,000
PSUs based on new sales growth | Performance Stock Units
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
RSUs and PSUs granted (in shares)			15,290
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
PSUs granted (in shares)			15,290
PSUs based on new sales growth | Performance Stock Units | Minimum
Weighted average grant-date fair value
Weighted average fair value at grant date for RSUs and PSUs granted (in usd per share)	$ 0		$ 0
PSUs based on new sales growth | Performance Stock Units | Maximum
Weighted average grant-date fair value
Weighted average fair value at grant date for RSUs and PSUs granted (in usd per share)	$ 311.72		$ 179.27
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
PSU vesting percentage	250.00%		500.00%

Restaurant Transactions - Addit

Restaurant Transactions - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 26, 2020USD ($)restaurantfranchisee	Dec. 28, 2019restaurant	Dec. 29, 2018restaurant
Business Combinations [Abstract]
Number of restaurants sold to existing franchisees | restaurant	7
Number of existing franchisees purchasing restaurants | franchisee	2
Proceeds from sale of restaurants	$ 4,800
Gain (loss) on sale of restaurants	3,200
Reduction in goodwill related to sale of restaurants	$ 58
Number of restaurants acquired from franchisees | restaurant	6	1	6

Restaurant Transactions - Alloc

Restaurant Transactions - Allocation of Acquisition Purchase Price (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Business Acquisition [Line Items]
Goodwill	$ 53,690	$ 50,188	$ 49,655
Restaurant Transactions
Business Acquisition [Line Items]
Working capital	40	0	49
Property and equipment	652	90	664
Reacquired franchise rights	2,483	610	2,705
Goodwill	3,560	533	3,098
Total purchase price	$ 6,735	$ 1,233	$ 6,516

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 29, 2018
Disaggregation of Revenue [Line Items]
Average franchise license term	10 years
Deferred revenue not yet being amortized	$ 9,800	$ 8,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
Disaggregation of Revenue [Line Items]
Remaining amortization period for deferred revenue related to open restaurants	7 years 2 months 12 days
Royalty
Disaggregation of Revenue [Line Items]
Revenue from customers	$ 98,554	75,106	$ 61,882
Advertising Fees
Disaggregation of Revenue [Line Items]
Revenue from customers	74,930	55,932	34,484
Franchise
Disaggregation of Revenue [Line Items]
Revenue from customers	$ 3,656	$ 4,087	$ 2,924