Document and Entity Information
| Document and Entity Information Document - $ / shares | 9 Months Ended | ||
| Sep. 27, 2016 | Oct. 25, 2016 | Dec. 29, 2015 | |
| Document Information [Line Items] | |||
| Entity Registrant Name | Panera Bread Company | ||
| Entity Central Index Key | 724,606 | ||
| Current Fiscal Year End Date | --12-27 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Document Type | 10-Q | ||
| Document Period End Date | Sep. 27, 2016 | ||
| Document Fiscal Year Focus | 2,016 | ||
| Document Fiscal Period Focus | Q3 | ||
| Amendment Flag | false | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Common Class A [Member] | |||
| Document Information [Line Items] | |||
| Entity Common Stock, Shares Outstanding | 21,833,460 | ||
| Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |
| Common Class B [Member] | |||
| Document Information [Line Items] | |||
| Entity Common Stock, Shares Outstanding | 1,381,730 | ||
| Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |
| Subsequent Event [Member] | Common Class A [Member] | |||
| Document Information [Line Items] | |||
| Common Stock, Par or Stated Value Per Share | $ 0.0001 | ||
| Subsequent Event [Member] | Common Class B [Member] | |||
| Document Information [Line Items] | |||
| Common Stock, Par or Stated Value Per Share | $ 0.0001 |
Consolidated Balance Sheets (un
| Consolidated Balance Sheets (unaudited) - USD ($) | Sep. 27, 2016 | Dec. 29, 2015 |
| Current assets: | ||
| Cash and cash equivalents | $ 86,598,000 | $ 241,886,000 |
| Trade accounts receivable, net | 47,717,000 | 38,211,000 |
| Other accounts receivable | 38,556,000 | 77,575,000 |
| Inventories | 22,122,000 | 22,482,000 |
| Prepaid expenses and other | 72,561,000 | 59,457,000 |
| Assets held for sale | 0 | 28,699,000 |
| Total current assets | 267,554,000 | 468,310,000 |
| Property and equipment, net | 795,476,000 | 776,248,000 |
| Other assets: | ||
| Goodwill | 122,377,000 | 121,791,000 |
| Other intangible assets, net | 56,986,000 | 63,877,000 |
| Deposits and other | 11,143,000 | 10,613,000 |
| Total other assets | 190,506,000 | 196,281,000 |
| Total assets | 1,253,536,000 | 1,440,839,000 |
| Current liabilities: | ||
| Accounts payable | 27,018,000 | 19,805,000 |
| Accrued expenses | 322,297,000 | 359,464,000 |
| Current portion of long-term debt | 17,229,000 | 17,229,000 |
| Liabilities associated with assets held for sale | 0 | 2,945,000 |
| Total current liabilities | 366,544,000 | 399,443,000 |
| Long-term debt | 414,269,000 | 388,971,000 |
| Deferred rent | 62,917,000 | 62,610,000 |
| Deferred income taxes | 28,285,000 | 35,968,000 |
| Other long-term liabilities | 58,085,000 | 52,566,000 |
| Total liabilities | 930,100,000 | 939,558,000 |
| Commitments and Contingencies (Note 9) | ||
| Redeemable noncontrolling interest | 3,837,000 | 3,981,000 |
| Common stock, $.0001 par value per share: | ||
| Treasury stock, carried at cost | (1,405,210,000) | (1,111,586,000) |
| Preferred Stock, $.0001 par value per share | 0 | 0 |
| Additional paid-in capital | 252,201,000 | 235,393,000 |
| Accumulated other comprehensive income (loss) | (7,478,000) | (5,029,000) |
| Retained earnings | 1,480,083,000 | 1,378,519,000 |
| Total stockholders' equity | 319,599,000 | 497,300,000 |
| Total liabilities, redeemable noncontrolling interest, and stockholders' equity | 1,253,536,000 | 1,440,839,000 |
| Common Stock Class A [Member] | ||
| Common stock, $.0001 par value per share: | ||
| Common stock | (3,000) | (3,000) |
| Common Stock Class B [Member] | ||
| Common stock, $.0001 par value per share: | ||
| Common stock | $ 0 | $ 0 |
Consolidated Balance Sheets Bal
| Consolidated Balance Sheets Balance Sheet Parenthetical - $ / shares | Sep. 27, 2016 | Dec. 29, 2015 |
| Capital Unit [Line Items] | ||
| Treasury Stock, Shares | 8,914,404 | 7,490,481 |
| Common Class A [Member] | ||
| Capital Unit [Line Items] | ||
| Common Stock, Shares Authorized | 112,500,000 | 112,500,000 |
| Common Stock, Shares, Issued | 30,917,139 | 30,836,669 |
| Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
| Common Stock, Shares, Outstanding | 22,002,735 | 23,346,188 |
| Common Class B [Member] | ||
| Capital Unit [Line Items] | ||
| Common Stock, Shares Authorized | 10,000,000 | 10,000,000 |
| Common Stock, Shares, Issued | 1,381,730 | 1,381,730 |
| Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
| Common Stock, Shares, Outstanding | 1,381,730 | 1,381,730 |
| Preferred Stock [Member] | ||
| Capital Unit [Line Items] | ||
| Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
| Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
| Preferred Stock, Shares Issued | 0 | 0 |
| Preferred Stock, Shares Outstanding | 0 | 0 |
Consolidated Statements of Inco
| Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | |
| Revenues: | ||||
| Total revenues | $ 684,206,000 | $ 664,654,000 | $ 2,068,259,000 | $ 1,989,815,000 |
| Bakery-cafe expenses: | ||||
| Cost of food and paper products | 173,239,000 | 178,700,000 | 529,684,000 | 535,281,000 |
| Labor | 195,773,000 | 190,736,000 | 582,778,000 | 561,762,000 |
| Occupancy | 41,534,000 | 42,835,000 | 125,541,000 | 129,083,000 |
| Other operating expenses | 90,492,000 | 82,706,000 | 268,211,000 | 252,150,000 |
| Total bakery-cafe expenses | 501,038,000 | 494,977,000 | 1,506,214,000 | 1,478,276,000 |
| Fresh dough and other product cost of sales to franchisees | 46,347,000 | 41,643,000 | 133,576,000 | 118,161,000 |
| Depreciation and amortization | 38,985,000 | 33,885,000 | 114,073,000 | 100,167,000 |
| General and administrative expenses | 43,538,000 | 37,575,000 | 130,657,000 | 103,515,000 |
| Pre-opening expenses | 1,948,000 | 2,298,000 | 5,584,000 | 6,253,000 |
| Refranchising loss | 129,000 | 2,174,000 | 9,072,000 | 11,732,000 |
| Total costs and expenses | 631,985,000 | 612,552,000 | 1,899,176,000 | 1,818,104,000 |
| Operating profit | 52,221,000 | 52,102,000 | 169,083,000 | 171,711,000 |
| Interest expense | 2,529,000 | 1,363,000 | 6,059,000 | 2,266,000 |
| Other (income) expense, net | 411,000 | (55,000) | 274,000 | 948,000 |
| Income before income taxes | 49,281,000 | 50,794,000 | 162,750,000 | 168,497,000 |
| Income taxes | 17,371,000 | 18,401,000 | 61,286,000 | 62,315,000 |
| Net income | 31,910,000 | 32,393,000 | 101,464,000 | 106,182,000 |
| Less: Net income (loss) attributable to noncontrolling interest | (65,000) | 0 | (100,000) | 0 |
| Net income attributable to Panera Bread Company | $ 31,975,000 | $ 32,393,000 | $ 101,564,000 | $ 106,182,000 |
| Earnings Per Common Share | ||||
| Basic (in dollars per share) | $ 1.37 | $ 1.28 | $ 4.29 | $ 4.08 |
| Diluted (in dollars per share) | $ 1.37 | $ 1.27 | $ 4.27 | $ 4.07 |
| Weighted average shares of common and common equivalent shares outstanding: | ||||
| Weighted average number of shares outstanding - basic (in shares) | 23,276 | 25,394 | 23,651 | 26,011 |
| Weighted average number of shares outstanding - diluted (in shares) | 23,391 | 25,501 | 23,774 | 26,119 |
| Operating Segments [Member] | ||||
| Bakery-cafe expenses: | ||||
| Depreciation and amortization | $ 38,985,000 | $ 114,073,000 | $ 100,167,000 | |
| Company Bakery Cafe Operations [Member] | ||||
| Revenues: | ||||
| Total revenues | 593,434,000 | $ 584,664,000 | 1,801,502,000 | 1,756,464,000 |
| Franchise Operations [Member] | ||||
| Revenues: | ||||
| Total revenues | 38,210,000 | 33,740,000 | 114,079,000 | 98,952,000 |
| Fresh dough and other product sales to franchisees [Member] | ||||
| Revenues: | ||||
| Total revenues | $ 52,562,000 | $ 46,250,000 | $ 152,678,000 | $ 134,399,000 |
Consolidated Statements of Comp
| Consolidated Statements of Comprehensive Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | |
| Net income | $ 31,910,000 | $ 32,393,000 | $ 101,464,000 | $ 106,182,000 |
| Less: Net income (loss) attributable to noncontrolling interest | (65,000) | 0 | (100,000) | 0 |
| Net income attributable to Panera Bread Company | 31,975,000 | 32,393,000 | 101,564,000 | 106,182,000 |
| Unrealized gains (losses) on cash flow hedging instruments | 1,139,000 | (4,908,000) | (6,019,000) | (4,908,000) |
| Tax (expense) benefit | (450,000) | 1,941,000 | 2,381,000 | 1,941,000 |
| Reclassification adjustment for net (gains) losses realized in earnings on cash flow hedging instruments | 693,000 | 0 | 693,000 | 0 |
| Tax (expense) benefit | (275,000) | 0 | (275,000) | 0 |
| Foreign currency translation adjustment | (84,000) | (963,000) | 771,000 | (1,666,000) |
| Other comprehensive income (loss) attributable to Panera Bread Comapny | 1,023,000 | (3,930,000) | (2,449,000) | (4,633,000) |
| Comprehensive income attributable to Panera Bread Company | $ 32,998,000 | $ 28,463,000 | $ 99,115,000 | $ 101,549,000 |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows (unaudited) - USD ($) | 9 Months Ended | |
| Sep. 27, 2016 | Sep. 29, 2015 | |
| Cash flows from operations: | ||
| Net income | $ 101,464,000 | $ 106,182,000 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 114,073,000 | 100,167,000 |
| Stock-based compensation expense | 12,191,000 | 11,110,000 |
| Tax benefit from stock-based compensation | (1,963,000) | (2,023,000) |
| Deferred income taxes | (5,577,000) | (34,908,000) |
| Refranchising loss, cash flow | 7,212,000 | 10,786,000 |
| Other | 6,398,000 | 1,928,000 |
| Changes in operating assets and liabilities, excluding the effect of acquisitions and dispositions: | ||
| Trade and other accounts receivable, net | 28,265,000 | 33,128,000 |
| Inventories | 676,000 | 682,000 |
| Prepaid expenses and other | (13,104,000) | (11,762,000) |
| Deposits and other | 1,054,000 | (179,000) |
| Accounts payable | 4,720,000 | 3,723,000 |
| Accrued expenses | (28,529,000) | (39,089,000) |
| Deferred rent | 184,000 | 2,433,000 |
| Other long-term liabilities | 1,869,000 | (5,669,000) |
| Net cash provided by operating activities | 228,933,000 | 176,509,000 |
| Cash flows from investing activities: | ||
| Additions to property and equipment | (146,364,000) | (153,301,000) |
| Proceeds from refranchising | 15,649,000 | 20,805,000 |
| Proceeds from sale-leaseback transactions | 2,998,000 | 10,095,000 |
| Proceeds from sale of property and equipment | 0 | 1,553,000 |
| Net cash used in investing activities | (127,717,000) | (120,848,000) |
| Cash flows from financing activities: | ||
| Repayments of Long-term Debt | (14,933,000) | 0 |
| Proceeds from issuance of long-term debt | 0 | 299,070,000 |
| Proceeds from borrowings under revolving credit facility | 40,000,000 | 0 |
| Repurchases of common stock | (286,143,000) | (280,301,000) |
| Capitalized debt issuance costs | 0 | (363,000) |
| Tax benefit from stock-based compensation | 1,963,000 | 2,023,000 |
| Proceeds from issuance of common stock under employee benefit plans | 2,654,000 | 2,594,000 |
| Distribution to redeemable noncontrolling interest | (45,000) | 0 |
| Net cash (used in) provided by financing activities | (256,504,000) | 23,023,000 |
| Net decrease in cash and cash equivalents | (155,288,000) | 78,684,000 |
| Cash and cash equivalents at beginning of period | 241,886,000 | 196,493,000 |
| Cash and cash equivalents at end of period | $ 86,598,000 | $ 275,177,000 |
Summary of Significant Accounti
| Summary of Significant Accounting Policies | 9 Months Ended |
| Sep. 27, 2016 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q, which consist of the accounts of Panera Bread Company and its wholly owned direct and indirect subsidiaries (collectively, the “Company”), have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), under the rules and regulations of the United States Securities and Exchange Commission (the “SEC”), and on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the fiscal year ended December 29, 2015 (“fiscal 2015 ”). In September 2016, all of the shares of stock of Panera Bread Ltd., as successor to Panera Bread ULC, a Canadian subsidiary of Panera Bread Company, were sold by Panera International Holdings, Inc., a subsidiary of Panera Bread Company, and ceased to be a subsidiary of Panera Bread Company. Following the close of the sale on September 13, 2016, the transferred Panera Bread Ltd. operations are no longer presented in the Company's consolidated financial statements. Refer to Note 2 for further information on the sale. These unaudited consolidated financial statements should be read in conjunction with such audited consolidated financial statements, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2015 , as filed with the SEC on February 18, 2016 . All intercompany balances and transactions have been eliminated in consolidation. The Consolidated Balance Sheet data as of December 29, 2015 was derived from audited financial statements, but does not include all disclosures required by GAAP contained herein. The unaudited consolidated financial statements include all adjustments (consisting of normal recurring adjustments and accruals) that management considers necessary for a fair statement of the Company's financial position and comprehensive income for the interim periods presented. Interim results are not necessarily indicative of the results for any other interim period or for the entire fiscal year ending December 27, 2016 (“fiscal 2016”). Certain reclassifications have been made to prior year balances to conform to the fiscal 2016 presentation. Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. This update addresses how certain cash inflows and outflows are classified in the statement of cash flows to eliminate existing diversity in practice. This update is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the effect this standard will have on the Company's consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. This update simplifies accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update is effective for annual and interim reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the overall impact that ASU 2016-09 will have on the Company's consolidated financial statements and related disclosures, as well as the expected timing and method of adoption. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. This update will increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This update is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Based on a preliminary assessment, the Company expects the standard to have a material impact on its assets and liabilities due to the recognition of right-of-use assets and lease liabilities on its Consolidated Balance Sheets at the beginning of the earliest period presented. The Company is continuing its assessment, which may identify additional impacts this standard will have on its consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes”. This update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company early adopted ASU 2015-17 during the thirteen weeks ended March 29, 2016 on a retrospective basis. As a result of the retrospective adoption, the Company reclassified current deferred income tax assets of $34.5 million as of December 29, 2015 to long-term deferred income tax liabilities in the Consolidated Balance Sheets. Adoption of this standard did not impact the Company's results of operations or cash flows in either the current or previous interim and annual reporting periods. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments”. This update eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Acquirers would now recognize measurement-period adjustments during the period in which they determine the amount of the adjustment. This update is effective for annual and interim reporting periods beginning after December 15, 2015, and should be applied prospectively to adjustments for provisional amounts that occur after the effective date with early adoption permitted for financial statements that have not been issued. The adoption of this guidance did not have a material effect on the Company's consolidated financial statements or related disclosures; however, it may impact the reporting of future acquisitions if and when they occur. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory”. This update provides guidance on the subsequent measurement of inventory, which changes the measurement from lower of cost or market to lower of cost and net realizable value. This update is effective for annual and interim reporting periods beginning after December 15, 2016. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU 2015-14, delaying the effective date for adoption. The update is now effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted. The update permits the use of either the retrospective or cumulative effect transition method. The FASB has also issued the following standards which provide additional clarification and implementation guidance on the previously issued ASU 2014-09 and have the same effective date as the original standard: ASU 2016-12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients (Topic 606);” ASU 2016-11, “Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting (SEC Update);” ASU 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing (Topic 606);” and ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” The Company is currently evaluating the overall impact that ASU 2014-09 will have on the Company's consolidated financial statements, as well as the expected timing and method of adoption. Based on a preliminary assessment, the Company has determined that the adoption will change the timing of recognition of gift card breakage income, which is currently recognized using the remote method. The new guidance will require application of the proportional method. The Company is continuing its assessment, which may identify additional impacts this standard will have on its consolidated financial statements and related disclosures. |
Divestitures
| Divestitures | 9 Months Ended |
| Sep. 27, 2016 | |
| Business Combinations [Abstract] | |
| Business Combinations and Divestitures | Divestitures Refranchising Initiative In February 2015, the Company announced a plan to refranchise approximately 50 to 150 Company-owned bakery-cafes. As of September 27, 2016 , the Company had completed the sale of 102 Company-owned bakery-cafes. During the thirteen weeks ended March 29, 2016, 20 Company-owned bakery-cafes that the Company concluded no longer met all of the criteria required to be classified as held for sale were reclassified to held and used at their fair value. On May 3, 2016, the Company sold substantially all of the assets of 15 bakery-cafes in the Portland, Oregon market to an existing franchisee for a purchase price of approximately $15.2 million , which resulted in a gain on sale of approximately $0.5 million . On September 13, 2016, Panera International Holdings, Inc., a subsidiary of Panera Bread Company, sold all of its shares of stock of Panera Bread Ltd., as successor to Panera Bread ULC, a Canadian subsidiary, to a new franchisee for a purchase price of approximately $5.0 million , with $0.5 million payable in cash and $4.5 million payable in the form of a promissory note. The promissory note bears interest at the Wall Street Journal prime rate plus 2.00 percent and is payable in equal quarterly installments over five years. As of September 27, 2016 , the carrying amount of the promissory note approximates fair value as its interest rate approximates current market rates (Level 2 inputs). The sale of Panera Bread Ltd. transferred ownership of substantially all of the assets of 12 bakery-cafes in the Ontario, Canada market to the new franchisee. The Company recorded a gain on the sale of approximately $0.2 million during the thirteen weeks ended September 27, 2016. The Company recognized a $6.1 million loss on assets held for sale related to the 12 bakery-cafes in Ontario, Canada during the thirteen weeks ended June 28, 2016. Following the close of the sale on September 13, 2016, the Panera Bread Ltd. operations are no longer being consolidated as a subsidiary in the Company's consolidated financial statements. The Company did not classify any assets or liabilities as held for sale as of September 27, 2016. The Company classified as held for sale the assets and certain liabilities of 35 Company-owned bakery-cafes as of December 29, 2015. The Company classifies assets as held for sale and ceases depreciation of the assets when those assets meet the held for sale criteria, as defined in GAAP. The following summarizes activity associated with the refranchising initiative recorded in the caption entitled Refranchising loss in the Consolidated Statements of Income for the periods indicated (in thousands): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Loss on assets held for sale (1) $ — $ 1,000 $ 6,112 $ 8,941 Lease termination costs and impairment of long-lived assets (1) — — 2,858 3,837 Professional fees, severance, and other 331 596 795 946 Loss (gain) on sale of bakery-cafes (1) (202 ) 578 (693 ) (1,992 ) Refranchising loss $ 129 $ 2,174 $ 9,072 $ 11,732 (1) Certain of the amounts for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 are included in the caption entitled Refranchising loss in the Consolidated Statements of Cash Flows as a non-cash adjustment to reconcile net income to net cash provided by operating activities. |
Fair Value Measurements
| Fair Value Measurements | 9 Months Ended |
| Sep. 27, 2016 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value Measurements | Fair Value Measurements The following summarizes assets and liabilities measured at fair value on a recurring basis (in thousands): Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 27, 2016: Interest rate swaps $ 7,878 $ — $ 7,878 $ — Total liabilities $ 7,878 $ — $ 7,878 $ — December 29, 2015: Cash equivalents $ 2 $ 2 $ — $ — Total assets $ 2 $ 2 $ — $ — Interest rate swaps $ 2,552 $ — $ 2,552 $ — Total liabilities $ 2,552 $ — $ 2,552 $ — The fair value of the Company's cash equivalents is based on quoted market prices for identical securities. The fair value of the Company's interest rate swaps are determined based on a discounted cash flow analysis on the expected future cash flows of each derivative. This analysis reflects the contractual terms of the derivatives and uses observable market-based inputs, including interest rate curves and credit spreads. |
Inventories
| Inventories | 9 Months Ended |
| Sep. 27, 2016 | |
| Inventory Disclosure [Abstract] | |
| Inventories | Inventories Inventories consisted of the following (in thousands): September 27, 2016 December 29, 2015 Food: Fresh dough facilities: Raw materials $ 3,382 $ 3,561 Finished goods 471 446 Bakery-cafes: Raw materials 15,010 14,819 Paper goods 3,259 3,656 Total $ 22,122 $ 22,482 |
Accrued Expenses
| Accrued Expenses | 9 Months Ended |
| Sep. 27, 2016 | |
| Payables and Accruals [Abstract] | |
| Accrued expenses | Accrued Expenses Accrued expenses consisted of the following (in thousands): September 27, 2016 December 29, 2015 Unredeemed gift cards, net $ 87,711 $ 123,363 Compensation and related employment taxes 50,243 64,882 Insurance 42,581 37,208 Capital expenditures 39,189 53,914 Taxes, other than income taxes 22,893 20,206 Advertising 10,649 5,242 Occupancy costs 9,376 8,594 Deferred revenue 8,098 5,690 Fresh dough and other product operations 7,999 10,854 Utilities 5,059 4,581 Share repurchases 4,988 — Loyalty program 2,830 2,653 Other 30,681 22,277 Total $ 322,297 $ 359,464 |
Debt
| Debt | 9 Months Ended |
| Sep. 27, 2016 | |
| Debt Instruments [Abstract] | |
| Debt Disclosure [Text Block] | Debt Long-term debt consisted of the following (in thousands): September 27, 2016 December 29, 2015 2014 Term Loan $ 100,000 $ 100,000 2015 Term Loan 285,000 296,250 Borrowings under the 2015 Credit Agreement 40,000 — 2015 Note Payable 7,608 10,144 Debt assumed in Tatte acquisition — 1,147 Aggregate unamortized lender fees and issuance costs (1,110 ) (1,341 ) Total carrying amount 431,498 406,200 Current portion of long-term debt 17,229 17,229 Long-term debt $ 414,269 $ 388,971 Term Loans On June 11, 2014 , the Company entered into a term loan agreement (the “2014 Term Loan Agreement”), by and among the Company, as borrower, Bank of America, N.A., as administrative agent, and other lenders party thereto. The 2014 Term Loan Agreement provides for an unsecured term loan in the amount of $100 million (the “2014 Term Loan”). The 2014 Term Loan is scheduled to mature on July 11, 2019 , subject to acceleration upon certain specified events of default, including breaches of representations or covenants, failure to pay other material indebtedness or a change of control of the Company, as defined in the 2014 Term Loan Agreement. The Company incurred lender fees and issuance costs totaling $0.2 million in connection with the issuance of the 2014 Term Loan. The lender fees and issuance costs are being amortized to expense over the term of the 2014 Term Loan. On July 16, 2015 , the Company entered into a term loan agreement (the “2015 Term Loan Agreement”), with Bank of America, N.A., as administrative agent, and other lenders party thereto. The 2015 Term Loan Agreement provides for an unsecured term loan in the amount of $300 million (the "2015 Term Loan"). The 2015 Term Loan is scheduled to mature on July 16, 2020 , subject to acceleration upon certain specified events of default, including breaches of representations or covenants, failure to pay other material indebtedness or a change of control of the Company, as defined in the 2015 Term Loan Agreement, and is amortized in equal quarterly installments in an amount equal to 1.25 percent of the original principal amount of the 2015 Term Loan. The Company incurred lender fees and issuance costs totaling $1.4 million in connection with the issuance of the 2015 Term Loan. The lender fees and issuance costs are being amortized to expense over the term of the 2015 Term Loan. As of September 27, 2016 , $14.7 million of the 2015 Term Loan's carrying amount is presented as the current portion of long-term debt in the Consolidated Balance Sheets. Each of the 2014 Term Loan and 2015 Term Loan bears interest at a rate equal to, at the Company's option, (1) the Eurodollar rate plus a margin ranging from 1.00 percent to 1.50 percent depending on the Company’s consolidated leverage ratio or (2) the highest of (a) the Bank of America prime rate, (b) the Federal funds rate plus 0.50 percent or (c) the Eurodollar rate plus 1.00 percent , plus a margin ranging from 0.00 percent to 0.50 percent depending on the Company’s consolidated leverage ratio. The Company’s obligations under the 2014 Term Loan Agreement and 2015 Term Loan Agreement are guaranteed by certain of its direct and indirect subsidiaries. The weighted-average interest rates for both the 2014 Term Loan and 2015 Term Loan, excluding the amortization of issuance costs and the impact of the Company's interest rate swaps, were 1.62 percent and 1.57 percent for the thirteen and thirty-nine weeks ended September 27, 2016 , respectively. The weighted-average interest rate for the 2014 Term Loan, excluding the amortization of issuance costs and the impact of the Company's interest rate swaps, was 1.19 percent and 1.18 percent for the thirteen and thirty-nine weeks ended September 29, 2015, respectively. The weighted-average interest rate for the 2015 Term Loan, excluding the amortization of issuance costs and the impact of the Company's interest rate swaps, was 1.32 percent for both the thirteen and thirty-nine weeks ended September 29, 2015, respectively. As of September 27, 2016 , the carrying amounts of the 2014 Term Loan and 2015 Term Loan approximate fair value as the variable interest rates approximate current market rates (Level 2 inputs). On July 16, 2015, in order to hedge the variability in cash flows from changes in benchmark interest rates, the Company entered into two forward-starting interest rate swap agreements with an aggregate initial notional value of $242.5 million . The forward-starting interest rate swaps have been designated as cash flow hedging instruments. See Note 7 for information on the Company's interest rate swaps. Installment Payment Agreement On September 15, 2015 , the Company entered into a Master Installment Payment Agreement (the “Master IPA”) with PNC Equipment Finance, LLC (“PNC”) pursuant to which PNC financed the Company's purchase of hardware, software, and services associated with new storage virtualization and disaster recovery systems. The Master IPA provides for a secured note payable in the amount of $12.7 million (the “2015 Note Payable”), payable in five annual installments beginning November 1, 2015 and each September 1st thereafter. As of September 27, 2016 , there was $7.6 million outstanding under the 2015 Note Payable and $2.5 million of the 2015 Note Payable is presented as the current portion of long-term debt in the Consolidated Balance Sheets. Revolving Credit Agreements On July 16, 2015 , the Company entered into a credit agreement (the “2015 Credit Agreement”), with Bank of America, N.A., as administrative agent, swing line lender and L/C issuer, and each lender from time to time party thereto. The 2015 Credit Agreement provides for an unsecured revolving credit facility of $250 million that will become due on July 16, 2020 , subject to acceleration upon certain specified events of default, including breaches of representations or covenants, failure to pay other material indebtedness or a change of control of the Company, as defined in the 2015 Credit Agreement. The 2015 Credit Agreement provides that the Company may select interest rates under the credit facility equal to, at the Company's option, (1) the Eurodollar rate plus a margin ranging from 1.00 percent to 1.50 percent depending on the Company’s consolidated leverage ratio or (2) the highest of (a) the Bank of America prime rate, (b) the Federal funds rate plus 0.50 percent or (c) the Eurodollar rate plus 1.00 percent , plus a margin ranging from 0.00 percent to 0.50 percent depending on the Company’s consolidated leverage ratio. As of September 27, 2016 , the Company had $40 million outstanding under the 2015 Credit Agreement. The weighted-average interest rate for borrowings under the 2015 Credit Agreement was 1.65% for the thirteen weeks ended September 27, 2016 . The 2014 Term Loan Agreement, 2015 Term Loan Agreement and 2015 Credit Agreement contain customary affirmative and negative covenants, including covenants limiting liens, dispositions, fundamental changes, investments, indebtedness, and certain transactions and payments. In addition, such term loan and credit agreements contain various financial covenants that, among other things, require the Company to satisfy two financial covenants at the end of each fiscal quarter: (1) a consolidated leverage ratio less than or equal to 3.00 to 1.00 , and (2) a consolidated fixed charge coverage ratio of greater than or equal to 2.00 to 1.00 . As of September 27, 2016 , the Company was in compliance with all covenant requirements. |
Derivative Financial Instrument
| Derivative Financial Instruments | 9 Months Ended |
| Sep. 27, 2016 | |
| Derivative [Line Items] | |
| Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments The Company enters into derivative instruments solely for risk management purposes. To the extent the Company's cash-flow hedging instruments are effective in offsetting the variability in the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria required by FASB Accounting Standards Codification 815, “Derivatives and Hedging” , changes in the derivatives' fair value are not included in current earnings but are included in accumulated other comprehensive income (“AOCI”). These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. By using these instruments, the Company exposes itself, from time to time, to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. The Company minimizes this credit risk by entering into transactions with high-quality counterparties. Market risk is the adverse effect on the value of a financial instrument that results from changes in interest rates. The Company minimizes this market risk by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. On July 16, 2015, the Company entered into two forward-starting interest rate swap agreements with an aggregate initial notional value of $242.5 million to hedge a portion of the cash flows of its term loan borrowings. For each of the swaps, the Company has agreed to exchange with a counterparty the difference between fixed and variable interest amounts calculated by reference to an agreed-upon principal amount. The following table summarizes the Company's interest rate swaps as of September 27, 2016 : Trade Date Effective Date Term (in Years) Notional Amount (in thousands) Fixed Rate July 16, 2015 July 11, 2016 4 $ 100,000 1.75 % July 16, 2015 July 18, 2016 5 142,500 1.97 % The notional amount for the interest rate swap with an effective date of July 18, 2016 decreases quarterly by $1.9 million over the five-year term of the interest rate swap beginning in September 2016. The interest rate swaps, which have been designated and qualify as cash flow hedges, are recorded at fair value in the Consolidated Balance Sheets. The following table summarizes the estimated fair value of the Company's interest rate swaps as of September 27, 2016 and December 29, 2015 (in thousands): Balance Sheet Location September 27, 2016 December 29, 2015 Accrued expenses $ 2,807 $ — Other long-term liabilities 5,071 2,552 Total $ 7,878 $ 2,552 Changes in fair value of the interest rate swaps are recorded as a component of AOCI in the Consolidated Balance Sheets. The Company reclassifies the effective gain or loss from AOCI to interest expense in the Consolidated Statements of Income at the time of the transaction. The following table presents pre-tax gains and losses on the interest rate swaps recognized in other comprehensive income (“OCI”) and reclassified from AOCI to earnings for the periods indicated (in thousands): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Net gains (losses) recognized in OCI before reclassifications $ 689 $ (2,967 ) $ (3,638 ) $ (2,967 ) Net gains (losses) reclassified from AOCI to earnings (418 ) — (418 ) — A net of tax loss of approximately $1.7 million is expected to be reclassified from AOCI to earnings within the next twelve months. The Company did not recognize a gain or loss due to hedge ineffectiveness during any of the thirteen or thirty-nine weeks ended September 27, 2016 and September 29, 2015. The Company does not hold or use derivative instruments for trading purposes. The Company does not have any derivatives that are not designated as hedging instruments and has not designated any non-derivatives as hedging instruments. |
Stockholders' Equity
| Stockholders' Equity | 9 Months Ended |
| Sep. 27, 2016 | |
| Stockholders' Equity Attributable to Parent [Abstract] | |
| Stockholders' Equity | Stockholders' Equity Share Repurchase Authorization On June 5, 2014, the Company's Board of Directors approved a three year share repurchase authorization of up to $600 million of the Company's Class A common stock (the “2014 repurchase authorization”), pursuant to which the Company may repurchase shares from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1 plan. On April 15, 2015, the Company's Board of Directors approved an increase of the 2014 repurchase authorization to $750 million . During the thirty-nine weeks ended September 27, 2016 , the Company repurchased 839,759 shares under the 2014 repurchase authorization, at an average price of $201.15 per share, for an aggregate purchase price of approximately $168.9 million . On May 19, 2016, the Company's Board of Directors terminated the 2014 repurchase authorization program. On May 19, 2016, the Company's Board of Directors approved a new three year share repurchase authorization of up to $600 million of the Company's Class A common stock (the "2016 repurchase authorization"), pursuant to which the Company may repurchase shares from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1 plan. Repurchased shares may be retired immediately and resume the status of authorized but unissued shares or may be held by the Company as treasury stock. The 2016 repurchase authorization may be modified, suspended, or discontinued by the Company's Board of Directors at any time. As of September 27, 2016 , the Company had repurchased a total of 557,981 shares under the 2016 share repurchase authorization, at a weighted average price of $ 213.21 per share, for an aggregate purchase price of approximately $119.0 million , of which $7.5 million remained unpaid as of September 27, 2016. These repurchases traded during the thirteen weeks ended September 27, 2016 and settled in the subsequent quarter. There was approximately $481.0 million available under the 2016 repurchase authorization as of September 27, 2016 . In total, during the thirty-nine weeks ended September 27, 2016 , the Company repurchased 1,397,740 shares under the 2014 repurchase authorization and 2016 repurchase authorization, at an average price of $205.97 per share, for an aggregate purchase price of approximately $287.9 million . Accumulated Other Comprehensive Income (Loss) The following table summarizes changes in accumulated other comprehensive income (loss), net of tax, for the thirteen weeks ended September 27, 2016 and September 29, 2015 (in thousands): Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (2,631 ) $ (5,870 ) $ (8,501 ) Net gains (losses) recognized in OCI before reclassifications (84 ) 689 605 Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax (84 ) 1,107 1,023 Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (2,063 ) $ — $ (2,063 ) Net gains (losses) recognized in OCI before reclassifications (963 ) (2,967 ) (3,930 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (963 ) (2,967 ) (3,930 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) The following table summarizes changes in accumulated other comprehensive income (loss), net of tax, for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 (in thousands): Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (3,486 ) $ (1,543 ) $ (5,029 ) Net gains (losses) recognized in OCI before reclassifications 771 (3,638 ) (2,867 ) Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax 771 (3,220 ) (2,449 ) Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (1,360 ) $ — $ (1,360 ) Net gains (losses) recognized in OCI before reclassifications (1,666 ) (2,967 ) (4,633 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (1,666 ) (2,967 ) (4,633 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) |
Commitments and Contingencies
| Commitments and Contingencies | 9 Months Ended |
| Sep. 27, 2016 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Lease Obligations As of September 27, 2016 , the Company has guaranteed the operating leases of 98 franchisee locations, which the Company accounted for in accordance with the accounting requirements for guarantees. These guarantees are primarily a result of the Company's sales of Company-owned bakery-cafes to franchisees, pursuant to which the Company exercised its right to assign the lease for the bakery-cafe but remain liable to the landlord for the remaining lease term in the event of a default by the assignee. These leases have terms expiring on various dates from July 15, 2020 to February 28, 2049 , with a maximum potential amount of future rental payments of approximately $298.9 million as of September 27, 2016 . The obligations from these leases will decrease over time as these operating leases expire. The Company has not recorded a liability for these guarantees because the fair value of these lease guarantees was determined by the Company to be insignificant individually, and in the aggregate, based on an analysis of the facts and circumstances of each such lease and each such assignee's performance, and the Company did not believe it was probable that it would be required to perform under any guarantees at the time the guarantees were issued. The Company has not had to make any payments related to any of these guaranteed leases. Applicable assignees continue to have primary liability for these operating leases. Legal Proceedings On July 2, 2014, a purported class action lawsuit was filed against one of the Company's subsidiaries by Jason Lofstedt, a former employee of one of the Company's subsidiaries. The lawsuit was filed in the California Superior Court, County of Riverside. The complaint alleges, among other things, violations of the California Labor Code, failure to pay overtime, failure to provide meal and rest periods, and violations of California's Unfair Competition Law. The complaint seeks, among other relief, collective and class certification of the lawsuit, unspecified damages, costs and expenses, including attorneys’ fees, and such other relief as the Court might find just and proper. In addition, several other purported class action lawsuits based on similar claims and seeking similar relief were filed against the subsidiary: on October 30, 2015 in the California Superior Court, County of San Bernardino by Jazmin Dabney, a former subsidiary employee; on November 3, 2015 in the United States District Court, Eastern District of California by Clara Manchester, a former subsidiary employee; and on November 30, 2015 in the California Superior Court, County of Yolo by Tanner Maginnis, a current subsidiary assistant manager. On May 6, 2016, the parties of all four pending cases reached a Memorandum of Understanding For Three Settlement Classes regarding the class action lawsuits. Under the terms of the agreement, the Company agreed to pay an immaterial amount to purported class members, plaintiffs' attorneys' fees, Private Attorney General Act payments, and costs of administering the settlement. The Memorandum of Understanding contains no admission of wrongdoing. The terms and conditions of a definitive settlement agreement are under negotiation and such agreement is subject to the final approval by two California Superior Courts. The Company maintained an appropriate reserve in accrued expenses for this settlement in the Company's Consolidated Balance Sheets as of September 27, 2016. In addition to the legal matter described above, the Company is subject to various legal proceedings, claims, and litigation that arise in the ordinary course of its business. Defending lawsuits requires significant management attention and financial resources and the outcome of any litigation, including the matter described above, is inherently uncertain. The Company does not believe the ultimate resolution of these actions will have a material adverse effect on the Company's consolidated financial position and results of operations. However, a significant increase in the number of these claims, or one or more successful claims under which the Company incurs greater liabilities than is currently anticipated, could materially and adversely affect its consolidated financial statements. Other The Company is subject to ongoing federal and state income tax audits and sales and use tax audits. The Company does not believe the ultimate resolution of these actions will have a material adverse effect on its consolidated financial statements. However, a significant increase in the number of these audits, or one or more audits under which the Company incurs greater liabilities than is currently anticipated, could materially and adversely affect the Company's consolidated financial position and results of operations. The Company believes reserves for these matters are adequately provided for in its consolidated financial statements. |
Business Segment Information
| Business Segment Information | 9 Months Ended |
| Sep. 27, 2016 | |
| Segment Reporting [Abstract] | |
| Business Segment Information | Business Segment Information The Company operates three business segments. The Company Bakery-Cafe Operations segment is comprised of the operating activities of the bakery-cafes owned by the Company. The Company-owned bakery-cafes conduct business under the Panera Bread®, Saint Louis Bread Co.® or Paradise Bakery & Café® names. These bakery-cafes offer some or all of the following: fresh baked goods, made-to-order sandwiches on freshly baked breads, soups, salads, pasta dishes, custom roasted coffees, and other complementary products through on-premise sales, as well as catering. The Franchise Operations segment is comprised of the operating activities of the franchise business unit, which licenses qualified operators to conduct business under the Panera Bread or Paradise Bakery & Café names and also monitors the operations of these bakery-cafes. Under the terms of most of the agreements, the licensed operators pay royalties and fees to the Company in return for the use of the Panera Bread or Paradise Bakery & Café names. The Fresh Dough and Other Product Operations segment supplies fresh dough, produce, tuna, and cream cheese, and indirectly supplies proprietary sweet goods items through a contract manufacturing arrangement, to Company-owned and franchise-operated bakery-cafes. The fresh dough is sold to a number of both Company-owned and franchise-operated bakery-cafes at a delivered cost generally not to exceed 27 percent of the retail value of the end product. The sales and related costs to the franchise-operated bakery-cafes are separately stated line items in the Consolidated Statements of Income. The sales, costs, and operating profit related to the sales to Company-owned bakery-cafes are eliminated in consolidation in the Consolidated Statements of Income. Segment information related to the Company’s three business segments is as follows (in thousands): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Revenues: Company bakery-cafe operations $ 593,434 $ 584,664 $ 1,801,502 $ 1,756,464 Franchise operations 38,210 33,740 114,079 98,952 Fresh dough and other product operations 103,041 96,198 301,320 284,089 Intercompany sales eliminations (50,479 ) (49,948 ) (148,642 ) (149,690 ) Total revenues $ 684,206 $ 664,654 $ 2,068,259 $ 1,989,815 Segment profit: Company bakery-cafe operations (1) $ 92,267 $ 87,513 $ 286,216 $ 266,456 Franchise operations 36,923 32,461 110,141 95,219 Fresh dough and other product operations 6,215 4,607 19,102 16,238 Total segment profit $ 135,405 $ 124,581 $ 415,459 $ 377,913 Depreciation and amortization $ 38,985 $ 33,885 $ 114,073 $ 100,167 Unallocated general and administrative expenses 42,251 36,296 126,719 99,782 Pre-opening expenses 1,948 2,298 5,584 6,253 Interest expense 2,529 1,363 6,059 2,266 Other (income) expense, net 411 (55 ) 274 948 Income before income taxes $ 49,281 $ 50,794 $ 162,750 $ 168,497 Depreciation and amortization: Company bakery-cafe operations $ 28,894 $ 26,004 $ 85,828 $ 78,698 Fresh dough and other product operations 2,519 2,321 7,157 6,855 Corporate administration 7,572 5,560 21,088 14,614 Total depreciation and amortization $ 38,985 $ 33,885 $ 114,073 $ 100,167 Capital expenditures: Company bakery-cafe operations $ 33,723 $ 39,756 $ 104,070 $ 117,866 Fresh dough and other product operations 3,026 3,217 13,585 7,710 Corporate administration 10,660 5,472 28,709 27,725 Total capital expenditures $ 47,409 $ 48,445 $ 146,364 $ 153,301 (1) Includes refranchising losses of $0.1 million and $2.2 million for the thirteen weeks ended September 27, 2016 and September 29, 2015 , respectively, and $9.1 million and $11.7 million for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 , respectively. September 27, December 29, Segment assets: Company bakery-cafe operations $ 910,698 $ 953,717 Franchise operations 18,462 13,049 Fresh dough and other product operations 85,940 75,634 Total segment assets $ 1,015,100 $ 1,042,400 Unallocated cash and cash equivalents $ 86,598 $ 241,886 Unallocated trade and other accounts receivable 7,022 2,968 Unallocated property and equipment 114,536 107,333 Unallocated deposits and other 5,560 6,660 Other unallocated assets 24,720 39,592 Total assets $ 1,253,536 $ 1,440,839 “Unallocated cash and cash equivalents” relates primarily to corporate cash and cash equivalents, “unallocated trade and other accounts receivable” relates primarily to rebates and interest receivable, “unallocated property and equipment” relates primarily to corporate fixed assets, “unallocated deposits and other” relates primarily to insurance deposits, and “other unallocated assets” relates primarily to refundable income taxes. |
Income Taxes
| Income Taxes | 9 Months Ended |
| Sep. 27, 2016 | |
| Income Taxes [Abstract] | |
| Income Tax Disclosure [Text Block] | Income Taxes The Company records income taxes using an estimated annual effective tax rate for interim reporting. The estimated annual effective tax rate may fluctuate due to changes in forecasted annual operating income; changes to the valuation allowance for deferred tax assets; changes to actual or forecast permanent book to tax differences; impacts from future tax settlements with state, federal or foreign tax authorities (such changes would be recorded discretely in the quarter in which they occur); or impacts from tax law changes. To the extent such changes impact the Company’s deferred tax assets/liabilities, these changes would generally be recorded discretely in the quarter in which they occur. The Company's effective tax rates were 35.2% and 36.2% for the thirteen weeks ended September 27, 2016 and September 29, 2015 , respectively. The decrease in the effective tax rate was primarily driven by an increased charitable deduction as a result of the Tax Relief Extension Act of 2015. The Company's effective tax rates were 37.6% and 37.0% for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 , respectively. The increase in the effective tax rate was primarily driven by the recognition of $7.0 million of refranchising charges for which the Company cannot currently realize the associated tax benefit, partially offset by an increased charitable deduction as a result of the Tax Relief Extension Act of 2015. |
Earnings Per Share
| Earnings Per Share | 9 Months Ended |
| Sep. 27, 2016 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Amounts used for basic and diluted per share calculations: Net income attributable to Panera Bread Company $ 31,975 $ 32,393 $ 101,564 $ 106,182 Weighted average number of shares outstanding — basic 23,276 25,394 23,651 26,011 Effect of dilutive stock-based employee compensation awards 115 107 123 108 Weighted average number of shares outstanding — diluted 23,391 25,501 23,774 26,119 Earnings per common share: Basic $ 1.37 $ 1.28 $ 4.29 $ 4.08 Diluted $ 1.37 $ 1.27 $ 4.27 $ 4.07 For each of the thirteen and thirty-nine weeks ended September 27, 2016 and September 29, 2015 , weighted-average outstanding stock options, restricted stock, and stock-settled appreciation rights of less than 0.1 million shares were excluded in calculating diluted earnings per share as the exercise price exceeded fair market value and the inclusion of such shares would have been antidilutive. |
Supplemental Cash Flow Informat
| Supplemental Cash Flow Information | 9 Months Ended |
| Sep. 27, 2016 | |
| Supplemental Cash Flow Information [Abstract] | |
| Cash Flow, Supplemental Disclosures [Text Block] | Supplemental Cash Flow Information The following table sets forth supplemental cash flow information (in thousands): For the 39 Weeks Ended September 27, September 29, Cash paid during the period for: Interest $ 5,358 $ 1,783 Income taxes 49,914 72,519 Non-cash investing and financing activities: Change in accrued property and equipment purchases $ (14,725 ) $ 13,764 Accrued share repurchases 7,481 — Promissory note received upon sale of subsidiary (4,482 ) — Financed property and equipment purchases — 12,680 Asset retirement obligations 514 348 |
Summary of Significant Accoun20
| Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
| Sep. 27, 2016 | |
| Accounting Policies [Abstract] | |
| New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In August 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. This update addresses how certain cash inflows and outflows are classified in the statement of cash flows to eliminate existing diversity in practice. This update is effective for annual and interim reporting periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the effect this standard will have on the Company's consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. This update simplifies accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This update is effective for annual and interim reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the overall impact that ASU 2016-09 will have on the Company's consolidated financial statements and related disclosures, as well as the expected timing and method of adoption. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. This update will increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. This update is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Based on a preliminary assessment, the Company expects the standard to have a material impact on its assets and liabilities due to the recognition of right-of-use assets and lease liabilities on its Consolidated Balance Sheets at the beginning of the earliest period presented. The Company is continuing its assessment, which may identify additional impacts this standard will have on its consolidated financial statements and related disclosures. In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes”. This update requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company early adopted ASU 2015-17 during the thirteen weeks ended March 29, 2016 on a retrospective basis. As a result of the retrospective adoption, the Company reclassified current deferred income tax assets of $34.5 million as of December 29, 2015 to long-term deferred income tax liabilities in the Consolidated Balance Sheets. Adoption of this standard did not impact the Company's results of operations or cash flows in either the current or previous interim and annual reporting periods. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments”. This update eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Acquirers would now recognize measurement-period adjustments during the period in which they determine the amount of the adjustment. This update is effective for annual and interim reporting periods beginning after December 15, 2015, and should be applied prospectively to adjustments for provisional amounts that occur after the effective date with early adoption permitted for financial statements that have not been issued. The adoption of this guidance did not have a material effect on the Company's consolidated financial statements or related disclosures; however, it may impact the reporting of future acquisitions if and when they occur. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory”. This update provides guidance on the subsequent measurement of inventory, which changes the measurement from lower of cost or market to lower of cost and net realizable value. This update is effective for annual and interim reporting periods beginning after December 15, 2016. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This update provides a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU 2015-14, delaying the effective date for adoption. The update is now effective for interim and annual reporting periods beginning after December 15, 2017. Early adoption is permitted. The update permits the use of either the retrospective or cumulative effect transition method. The FASB has also issued the following standards which provide additional clarification and implementation guidance on the previously issued ASU 2014-09 and have the same effective date as the original standard: ASU 2016-12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients (Topic 606);” ASU 2016-11, “Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting (SEC Update);” ASU 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing (Topic 606);” and ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net).” The Company is currently evaluating the overall impact that ASU 2014-09 will have on the Company's consolidated financial statements, as well as the expected timing and method of adoption. Based on a preliminary assessment, the Company has determined that the adoption will change the timing of recognition of gift card breakage income, which is currently recognized using the remote method. The new guidance will require application of the proportional method. The Company is continuing its assessment, which may identify additional impacts this standard will have on its consolidated financial statements and related disclosures. |
Fair Value Measurements Fair Va
| Fair Value Measurements Fair Value Measurements (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 27, 2016: Interest rate swaps $ 7,878 $ — $ 7,878 $ — Total liabilities $ 7,878 $ — $ 7,878 $ — December 29, 2015: Cash equivalents $ 2 $ 2 $ — $ — Total assets $ 2 $ 2 $ — $ — Interest rate swaps $ 2,552 $ — $ 2,552 $ — Total liabilities $ 2,552 $ — $ 2,552 $ — |
Inventories (Tables)
| Inventories (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Inventory Disclosure [Abstract] | |
| Inventories | September 27, 2016 December 29, 2015 Food: Fresh dough facilities: Raw materials $ 3,382 $ 3,561 Finished goods 471 446 Bakery-cafes: Raw materials 15,010 14,819 Paper goods 3,259 3,656 Total $ 22,122 $ 22,482 |
Accrued Expenses (Tables)
| Accrued Expenses (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Payables and Accruals [Abstract] | |
| Accrued Expenses | September 27, 2016 December 29, 2015 Unredeemed gift cards, net $ 87,711 $ 123,363 Compensation and related employment taxes 50,243 64,882 Insurance 42,581 37,208 Capital expenditures 39,189 53,914 Taxes, other than income taxes 22,893 20,206 Advertising 10,649 5,242 Occupancy costs 9,376 8,594 Deferred revenue 8,098 5,690 Fresh dough and other product operations 7,999 10,854 Utilities 5,059 4,581 Share repurchases 4,988 — Loyalty program 2,830 2,653 Other 30,681 22,277 Total $ 322,297 $ 359,464 |
Debt Long-term debt (Tables)
| Debt Long-term debt (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Debt Instrument [Line Items] | |
| Schedule of Long-term Debt Instruments [Table Text Block] | September 27, 2016 December 29, 2015 2014 Term Loan $ 100,000 $ 100,000 2015 Term Loan 285,000 296,250 Borrowings under the 2015 Credit Agreement 40,000 — 2015 Note Payable 7,608 10,144 Debt assumed in Tatte acquisition — 1,147 Aggregate unamortized lender fees and issuance costs (1,110 ) (1,341 ) Total carrying amount 431,498 406,200 Current portion of long-term debt 17,229 17,229 Long-term debt $ 414,269 $ 388,971 |
Derivative Financial Instrume25
| Derivative Financial Instruments Derivative Financial Instruments (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Derivative [Line Items] | |
| Fair Value, by Balance Sheet Grouping [Table Text Block] | Balance Sheet Location September 27, 2016 December 29, 2015 Accrued expenses $ 2,807 $ — Other long-term liabilities 5,071 2,552 Total $ 7,878 $ 2,552 |
| Schedule of Derivative Instruments [Table Text Block] | Trade Date Effective Date Term (in Years) Notional Amount (in thousands) Fixed Rate July 16, 2015 July 11, 2016 4 $ 100,000 1.75 % July 16, 2015 July 18, 2016 5 142,500 1.97 % |
Stockholders' Equity Stockholde
| Stockholders' Equity Stockholders' Equity (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Stockholders' Equity | Stockholders' Equity Share Repurchase Authorization On June 5, 2014, the Company's Board of Directors approved a three year share repurchase authorization of up to $600 million of the Company's Class A common stock (the “2014 repurchase authorization”), pursuant to which the Company may repurchase shares from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1 plan. On April 15, 2015, the Company's Board of Directors approved an increase of the 2014 repurchase authorization to $750 million . During the thirty-nine weeks ended September 27, 2016 , the Company repurchased 839,759 shares under the 2014 repurchase authorization, at an average price of $201.15 per share, for an aggregate purchase price of approximately $168.9 million . On May 19, 2016, the Company's Board of Directors terminated the 2014 repurchase authorization program. On May 19, 2016, the Company's Board of Directors approved a new three year share repurchase authorization of up to $600 million of the Company's Class A common stock (the "2016 repurchase authorization"), pursuant to which the Company may repurchase shares from time to time on the open market or in privately negotiated transactions and which may be made under a Rule 10b5-1 plan. Repurchased shares may be retired immediately and resume the status of authorized but unissued shares or may be held by the Company as treasury stock. The 2016 repurchase authorization may be modified, suspended, or discontinued by the Company's Board of Directors at any time. As of September 27, 2016 , the Company had repurchased a total of 557,981 shares under the 2016 share repurchase authorization, at a weighted average price of $ 213.21 per share, for an aggregate purchase price of approximately $119.0 million , of which $7.5 million remained unpaid as of September 27, 2016. These repurchases traded during the thirteen weeks ended September 27, 2016 and settled in the subsequent quarter. There was approximately $481.0 million available under the 2016 repurchase authorization as of September 27, 2016 . In total, during the thirty-nine weeks ended September 27, 2016 , the Company repurchased 1,397,740 shares under the 2014 repurchase authorization and 2016 repurchase authorization, at an average price of $205.97 per share, for an aggregate purchase price of approximately $287.9 million . Accumulated Other Comprehensive Income (Loss) The following table summarizes changes in accumulated other comprehensive income (loss), net of tax, for the thirteen weeks ended September 27, 2016 and September 29, 2015 (in thousands): Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (2,631 ) $ (5,870 ) $ (8,501 ) Net gains (losses) recognized in OCI before reclassifications (84 ) 689 605 Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax (84 ) 1,107 1,023 Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (2,063 ) $ — $ (2,063 ) Net gains (losses) recognized in OCI before reclassifications (963 ) (2,967 ) (3,930 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (963 ) (2,967 ) (3,930 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) The following table summarizes changes in accumulated other comprehensive income (loss), net of tax, for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 (in thousands): Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (3,486 ) $ (1,543 ) $ (5,029 ) Net gains (losses) recognized in OCI before reclassifications 771 (3,638 ) (2,867 ) Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax 771 (3,220 ) (2,449 ) Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (1,360 ) $ — $ (1,360 ) Net gains (losses) recognized in OCI before reclassifications (1,666 ) (2,967 ) (4,633 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (1,666 ) (2,967 ) (4,633 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) |
| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (2,631 ) $ (5,870 ) $ (8,501 ) Net gains (losses) recognized in OCI before reclassifications (84 ) 689 605 Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax (84 ) 1,107 1,023 Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (2,063 ) $ — $ (2,063 ) Net gains (losses) recognized in OCI before reclassifications (963 ) (2,967 ) (3,930 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (963 ) (2,967 ) (3,930 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) Foreign Currency Translation Adjustment Cash Flow Hedging Instruments Total September 27, 2016 Net gains (losses), beginning of period $ (3,486 ) $ (1,543 ) $ (5,029 ) Net gains (losses) recognized in OCI before reclassifications 771 (3,638 ) (2,867 ) Net (gains) losses reclassified from AOCI to earnings — 418 418 Other comprehensive income (loss), net of tax 771 (3,220 ) (2,449 ) Net gains (losses), end of period $ (2,715 ) $ (4,763 ) $ (7,478 ) September 29, 2015 Net gains (losses), beginning of period $ (1,360 ) $ — $ (1,360 ) Net gains (losses) recognized in OCI before reclassifications (1,666 ) (2,967 ) (4,633 ) Net (gains) losses reclassified from AOCI to earnings — — — Other comprehensive income (loss), net of tax (1,666 ) (2,967 ) (4,633 ) Net gains (losses), end of period $ (3,026 ) $ (2,967 ) $ (5,993 ) |
Business Segment Information (T
| Business Segment Information (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Segment Reporting [Abstract] | |
| Business Segment Information | nformation related to the Company’s three business segments is as follows (in thousands): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Revenues: Company bakery-cafe operations $ 593,434 $ 584,664 $ 1,801,502 $ 1,756,464 Franchise operations 38,210 33,740 114,079 98,952 Fresh dough and other product operations 103,041 96,198 301,320 284,089 Intercompany sales eliminations (50,479 ) (49,948 ) (148,642 ) (149,690 ) Total revenues $ 684,206 $ 664,654 $ 2,068,259 $ 1,989,815 Segment profit: Company bakery-cafe operations (1) $ 92,267 $ 87,513 $ 286,216 $ 266,456 Franchise operations 36,923 32,461 110,141 95,219 Fresh dough and other product operations 6,215 4,607 19,102 16,238 Total segment profit $ 135,405 $ 124,581 $ 415,459 $ 377,913 Depreciation and amortization $ 38,985 $ 33,885 $ 114,073 $ 100,167 Unallocated general and administrative expenses 42,251 36,296 126,719 99,782 Pre-opening expenses 1,948 2,298 5,584 6,253 Interest expense 2,529 1,363 6,059 2,266 Other (income) expense, net 411 (55 ) 274 948 Income before income taxes $ 49,281 $ 50,794 $ 162,750 $ 168,497 Depreciation and amortization: Company bakery-cafe operations $ 28,894 $ 26,004 $ 85,828 $ 78,698 Fresh dough and other product operations 2,519 2,321 7,157 6,855 Corporate administration 7,572 5,560 21,088 14,614 Total depreciation and amortization $ 38,985 $ 33,885 $ 114,073 $ 100,167 Capital expenditures: Company bakery-cafe operations $ 33,723 $ 39,756 $ 104,070 $ 117,866 Fresh dough and other product operations 3,026 3,217 13,585 7,710 Corporate administration 10,660 5,472 28,709 27,725 Total capital expenditures $ 47,409 $ 48,445 $ 146,364 $ 153,301 (1) Includes refranchising losses of $0.1 million and $2.2 million for the thirteen weeks ended September 27, 2016 and September 29, 2015 , respectively, and $9.1 million and $11.7 million for the thirty-nine weeks ended September 27, 2016 and September 29, 2015 , respectively. September 27, December 29, Segment assets: Company bakery-cafe operations $ 910,698 $ 953,717 Franchise operations 18,462 13,049 Fresh dough and other product operations 85,940 75,634 Total segment assets $ 1,015,100 $ 1,042,400 Unallocated cash and cash equivalents $ 86,598 $ 241,886 Unallocated trade and other accounts receivable 7,022 2,968 Unallocated property and equipment 114,536 107,333 Unallocated deposits and other 5,560 6,660 Other unallocated assets 24,720 39,592 Total assets $ 1,253,536 $ 1,440,839 |
Earnings Per Share (Tables)
| Earnings Per Share (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Earnings Per Share [Abstract] | |
| Computation of basic and diluted earnings per share | The following table sets forth the computation of basic and diluted earnings per share (in thousands, except for per share data): For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Amounts used for basic and diluted per share calculations: Net income attributable to Panera Bread Company $ 31,975 $ 32,393 $ 101,564 $ 106,182 Weighted average number of shares outstanding — basic 23,276 25,394 23,651 26,011 Effect of dilutive stock-based employee compensation awards 115 107 123 108 Weighted average number of shares outstanding — diluted 23,391 25,501 23,774 26,119 Earnings per common share: Basic $ 1.37 $ 1.28 $ 4.29 $ 4.08 Diluted $ 1.37 $ 1.27 $ 4.27 $ 4.07 |
Supplemental Cash Flow Inform29
| Supplemental Cash Flow Information (Tables) | 9 Months Ended |
| Sep. 27, 2016 | |
| Supplemental Cash Flow Information [Abstract] | |
| Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | For the 39 Weeks Ended September 27, September 29, Cash paid during the period for: Interest $ 5,358 $ 1,783 Income taxes 49,914 72,519 Non-cash investing and financing activities: Change in accrued property and equipment purchases $ (14,725 ) $ 13,764 Accrued share repurchases 7,481 — Promissory note received upon sale of subsidiary (4,482 ) — Financed property and equipment purchases — 12,680 Asset retirement obligations 514 348 |
Summary of Significant Accoun30
| Summary of Significant Accounting Policies Recent Accounting Pronouncements (Details) - USD ($) $ in Millions | 9 Months Ended | |
| Sep. 27, 2016 | Dec. 29, 2015 | |
| Recent Accounting Updates [Abstract] | ||
| New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 34.5 | |
| Current Fiscal Year End Date | --12-27 |
Business Combinations and Dives
| Business Combinations and Divestitures (Details Textuals) | 3 Months Ended | 4 Months Ended | 8 Months Ended | 9 Months Ended | |||||||
| Sep. 27, 2016USD ($)bakery-cafes | Jun. 28, 2016USD ($) | Sep. 29, 2015USD ($) | May 02, 2016USD ($) | Sep. 12, 2016USD ($) | Sep. 27, 2016USD ($)bakery-cafes | Sep. 29, 2015USD ($) | Sep. 13, 2016bakery-cafes | May 03, 2016bakery-cafes | Mar. 29, 2016bakery-cafes | Dec. 29, 2015bakery-cafes | |
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down | $ 0 | $ 6,100,000 | $ 1,000,000 | $ 6,112,000 | $ 8,941,000 | ||||||
| Lease termination costs and impairment of long-lived assets | 0 | 0 | 2,858,000 | 3,837,000 | |||||||
| Disposal Group, Including Discontinued Operation, Other Expense | 331,000 | 596,000 | 795,000 | 946,000 | |||||||
| Proceeds from refranchising | $ 15,200,000 | $ 500,000 | 15,649,000 | 20,805,000 | |||||||
| Prromissory Note Receivable | 4,500,000 | 4,500,000 | |||||||||
| Gain (Loss) on Disposition of Business | $ (202,000) | 578,000 | $ (500,000) | (200,000) | $ (693,000) | (1,992,000) | |||||
| Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 5,000,000 | ||||||||||
| Loans Receivable, Basis Spread on Variable Rate | 2.00% | 2.00% | |||||||||
| Refranchising loss | $ 129,000 | $ 2,174,000 | $ 9,072,000 | $ 11,732,000 | |||||||
| Refranchised Cafe [Domain] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 102 | 102 | |||||||||
| Cafes recalssified as held and used [Member] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 20 | ||||||||||
| Refranchised Cafe [Member] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 12 | 15 | |||||||||
| Refranchising loss | $ 7,000,000 | ||||||||||
| Cafe Held for Sale [Member] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 35 | ||||||||||
| Minimum [Member] | Refranchised Cafe [Domain] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 50 | 50 | |||||||||
| Maximum [Member] | Refranchised Cafe [Domain] | |||||||||||
| Business Acquisitions And Divestitures [Line Items] | |||||||||||
| Number of bakery cafe | bakery-cafes | 150 | 150 | |||||||||
Fair Value Measurements (Detail
| Fair Value Measurements (Details) - USD ($) | Sep. 27, 2016 | Dec. 29, 2015 |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Cash and Cash Equivalents, Fair Value Disclosure | $ 2,000 | |
| Assets, Fair Value Disclosure, Recurring | 2,000 | |
| Interest Rate Derivative Liabilities, at Fair Value | $ 7,878,000 | 2,552,000 |
| Liabilities, Fair Value Disclosure, Recurring | 7,878,000 | 2,552,000 |
| Fair Value, Inputs, Level 1 [Member] | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Cash and Cash Equivalents, Fair Value Disclosure | 2,000 | |
| Assets, Fair Value Disclosure, Recurring | 2,000 | |
| Interest Rate Derivative Liabilities, at Fair Value | 0 | 0 |
| Liabilities, Fair Value Disclosure, Recurring | 0 | 0 |
| Fair Value, Inputs, Level 2 [Member] | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Cash and Cash Equivalents, Fair Value Disclosure | 0 | |
| Assets, Fair Value Disclosure, Recurring | 0 | |
| Interest Rate Derivative Liabilities, at Fair Value | 7,878,000 | 2,552,000 |
| Liabilities, Fair Value Disclosure, Recurring | 7,878,000 | 2,552,000 |
| Fair Value, Inputs, Level 3 [Member] | ||
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
| Cash and Cash Equivalents, Fair Value Disclosure | 0 | |
| Assets, Fair Value Disclosure, Recurring | 0 | |
| Interest Rate Derivative Liabilities, at Fair Value | 0 | 0 |
| Liabilities, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Inventories (Details)
| Inventories (Details) - USD ($) $ in Thousands | Sep. 27, 2016 | Dec. 29, 2015 |
| Inventory [Line Items] | ||
| Paper goods | $ 3,259 | $ 3,656 |
| Total | 22,122 | 22,482 |
| Fresh dough and other product operations [Member] | ||
| Inventory [Line Items] | ||
| Raw materials | 3,382 | 3,561 |
| Finished goods | 471 | 446 |
| Company Bakery Cafe Operations [Member] | ||
| Inventory [Line Items] | ||
| Raw materials | $ 15,010 | $ 14,819 |
Accrued Expenses (Details)
| Accrued Expenses (Details) - USD ($) | Sep. 27, 2016 | Dec. 29, 2015 |
| Payables and Accruals [Abstract] | ||
| Unredeemed gift cards, net | $ 87,711,000 | $ 123,363,000 |
| Compensation and related employment taxes | 50,243,000 | 64,882,000 |
| Capital Expenditures | 39,189,000 | 53,914,000 |
| Insurance | 42,581,000 | 37,208,000 |
| Taxes, other than income taxes | 22,893,000 | 20,206,000 |
| Fresh dough and other product operations | 7,999,000 | 10,854,000 |
| Utilities | 5,059,000 | 4,581,000 |
| Accrued Share Repurchases | 4,988,000 | 0 |
| Occupancy costs | 9,376,000 | 8,594,000 |
| Deferred Revenue | 8,098,000 | 5,690,000 |
| Customer Loyalty Program Liability, Current | 2,830,000 | 2,653,000 |
| Advertising | 10,649,000 | 5,242,000 |
| Other | 30,681,000 | 22,277,000 |
| Total | $ 322,297,000 | $ 359,464,000 |
Term Loan (Details Textuals)
| Term Loan (Details Textuals) | 3 Months Ended | 5 Months Ended | 7 Months Ended | 9 Months Ended | |||||||
| Sep. 27, 2016USD ($) | Sep. 29, 2015 | Jun. 10, 2014USD ($) | Jul. 15, 2015USD ($) | Sep. 27, 2016USD ($) | Sep. 29, 2015 | Sep. 14, 2015 | Dec. 29, 2015USD ($) | Sep. 15, 2015USD ($) | Jul. 16, 2015USD ($) | Jun. 11, 2014USD ($) | |
| Debt Instrument [Line Items] | |||||||||||
| Long-term Debt, Gross | $ 431,498,000 | $ 431,498,000 | $ 406,200,000 | ||||||||
| Notes Payable to Bank | $ 7,608,000 | $ 7,608,000 | 10,144,000 | $ 12,700,000 | |||||||
| Number of Installment Payments | 5 | 5 | |||||||||
| Notes Payable to Bank, Current | $ 2,500,000 | $ 2,500,000 | |||||||||
| Line of Credit Facility, Initiation Date | Jul. 16, 2015 | ||||||||||
| Debt Instrument, Periodic Payment | 0.0125 | ||||||||||
| Unamortized Debt Issuance Expense | (1,110,000) | $ (1,110,000) | (1,341,000) | ||||||||
| Current portion of long-term debt | 17,229,000 | 17,229,000 | 17,229,000 | ||||||||
| Long-term debt | 414,269,000 | 414,269,000 | 388,971,000 | ||||||||
| Notes Payable to Banks [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Issuance Date | Sep. 15, 2015 | ||||||||||
| Tatte Acquisition [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Long-term Debt, Gross | 0 | 0 | 1,147,000 | ||||||||
| 2014 Term Loan [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Issuance Date | Jun. 11, 2014 | ||||||||||
| Long-term Debt, Gross | $ 100,000,000 | $ 100,000,000 | 100,000,000 | $ 100,000,000 | |||||||
| Debt Instrument, Maturity Date | Jul. 11, 2019 | ||||||||||
| Debt Issuance Cost | $ (200,000) | ||||||||||
| Debt Instrument, Interest Rate at Period End | 1.62% | 1.19% | 1.57% | 1.18% | |||||||
| Consolidated Leverage Ratio | 3 | ||||||||||
| Consolidated Leverage Ratio Denominator | 1 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio | 2 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio Denominator | 1 | ||||||||||
| 2015 Credit Facility [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Interest Rate at Period End | 1.65% | ||||||||||
| 2015 Term Loan [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Issuance Date | Jul. 16, 2015 | ||||||||||
| Long-term Debt, Gross | $ 285,000,000 | $ 285,000,000 | 296,250,000 | $ 300,000,000 | |||||||
| Debt Instrument, Maturity Date | Jul. 16, 2020 | ||||||||||
| Debt Issuance Cost | $ (1,400,000) | ||||||||||
| Debt Instrument, Interest Rate at Period End | 1.62% | 1.32% | 1.57% | 1.32% | |||||||
| Consolidated Leverage Ratio | 3 | ||||||||||
| Consolidated Leverage Ratio Denominator | 1 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio | 2 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio Denominator | 1 | ||||||||||
| Current portion of long-term debt | $ 14,700,000 | $ 14,700,000 | |||||||||
| 2014 Term Loan [Member] | LIBOR Loan [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2014 Term Loan [Member] | LIBOR Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2014 Term Loan [Member] | LIBOR Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||
| 2014 Term Loan [Member] | Base Rate Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||||||||
| 2014 Term Loan [Member] | Base Rate Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
| 2014 Term Loan [Member] | Federal Funds Rate [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
| 2015 Term Loan [Member] | LIBOR Loan [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2015 Term Loan [Member] | LIBOR Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2015 Term Loan [Member] | LIBOR Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||
| 2015 Term Loan [Member] | Base Rate Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||||||||
| 2015 Term Loan [Member] | Base Rate Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
| 2015 Term Loan [Member] | Federal Funds Rate [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
| 2015 Credit Facility [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Line of Credit Facility, Maximum Borrowing Capacity | $ 250,000,000 | ||||||||||
| Line of Credit Facility, Expiration Date | Jul. 16, 2020 | ||||||||||
| Line of Credit Facility, Amount Outstanding | $ 40,000,000 | $ 40,000,000 | $ 0 | ||||||||
| Consolidated Leverage Ratio | 3 | ||||||||||
| Consolidated Leverage Ratio Denominator | 1 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio | 2 | ||||||||||
| Consolidated Fixed Charge Coverage Ratio Denominator | 1 | ||||||||||
| 2015 Credit Facility [Member] | LIBOR Loan [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2015 Credit Facility [Member] | LIBOR Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.00% | ||||||||||
| 2015 Credit Facility [Member] | LIBOR Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||||||||||
| 2015 Credit Facility [Member] | Base Rate Loan [Member] | Minimum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.00% | ||||||||||
| 2015 Credit Facility [Member] | Base Rate Loan [Member] | Maximum [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
| 2015 Credit Facility [Member] | Federal Funds Rate [Member] | |||||||||||
| Debt Instrument [Line Items] | |||||||||||
| Debt Instrument, Basis Spread on Variable Rate | 0.50% | ||||||||||
Derivative Financial Instrume36
| Derivative Financial Instruments Derivative Financial Instruments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | Dec. 29, 2015 | |
| Derivative [Line Items] | |||||
| Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | For the 13 Weeks Ended For the 39 Weeks Ended September 27, September 29, September 27, September 29, Net gains (losses) recognized in OCI before reclassifications $ 689 $ (2,967 ) $ (3,638 ) $ (2,967 ) Net gains (losses) reclassified from AOCI to earnings (418 ) — (418 ) — | ||||
| Stock Repurchased and Retired During Period, Shares | 1,397,740 | ||||
| Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness | $ 0 | $ 0 | $ 0 | $ 0 | |
| Derivative Asset, Notional Amount | 242,500,000 | 242,500,000 | |||
| Interest Rate Derivative Liabilities, at Fair Value | 7,878,000 | 7,878,000 | $ 2,552,000 | ||
| Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Accumulated Other Comprehensive Income (Loss), Net | 689,000 | (2,967,000) | (3,638,000) | (2,967,000) | |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | 1,700,000 | ||||
| Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | $ (418,000) | $ 0 | (418,000) | $ 0 | |
| 2014 Term Loan [Member] | |||||
| Derivative [Line Items] | |||||
| Derivative, Inception Date | Jul. 16, 2015 | ||||
| Derivative, Effective Date | Jul. 11, 2016 | ||||
| Derivative, Term of Contract | 4 years | ||||
| Derivative Asset, Notional Amount | $ 100,000,000 | $ 100,000,000 | |||
| Derivative, Fixed Interest Rate | 1.75% | 1.75% | |||
| 2015 Term Loan [Member] | |||||
| Derivative [Line Items] | |||||
| Derivative, Notional Amount Decrease | $ 1,900,000 | ||||
| Derivative, Inception Date | Jul. 16, 2015 | ||||
| Derivative, Effective Date | Jul. 18, 2016 | ||||
| Derivative, Term of Contract | 5 years | ||||
| Derivative Asset, Notional Amount | $ 142,500,000 | $ 142,500,000 | |||
| Derivative, Fixed Interest Rate | 1.97% | 1.97% | |||
| Accrued Liabilities [Member] | |||||
| Derivative [Line Items] | |||||
| Interest Rate Derivative Liabilities, at Fair Value | $ 2,807,000 | $ 2,807,000 | 0 | ||
| Other Noncurrent Liabilities [Member] | |||||
| Derivative [Line Items] | |||||
| Interest Rate Derivative Liabilities, at Fair Value | $ 5,071,000 | $ 5,071,000 | $ 2,552,000 | ||
| 2014 Repurchase Authorization [Member] | |||||
| Derivative [Line Items] | |||||
| Stock Repurchased and Retired During Period, Shares | 839,759 | ||||
Stockholders' Equity Share Repu
| Stockholders' Equity Share Repurchase (Details) - USD ($) | 9 Months Ended | ||||
| Sep. 27, 2016 | Sep. 29, 2015 | May 19, 2016 | Apr. 15, 2015 | Jun. 05, 2014 | |
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock Repurchased and Retired During Period, Shares | 1,397,740 | ||||
| Treasury Stock Acquired, Average Cost Per Share | $ 205.97 | ||||
| Stock Repurchased and Retired During Period, Value | $ 287,900,000 | ||||
| Stock Repurchased and Retired During Period, Accrued | $ 7,481,000 | $ 0 | |||
| 2014 Repurchase Authorization [Member] | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock Repurchase Program, Authorized Amount | $ 750,000,000 | $ 600,000,000 | |||
| Stock Repurchased and Retired During Period, Shares | 839,759 | ||||
| Treasury Stock Acquired, Average Cost Per Share | $ 201.15 | ||||
| Stock Repurchased and Retired During Period, Value | $ 168,900,000 | ||||
| 2016 Repurchase Authorization [Member] | |||||
| Equity, Class of Treasury Stock [Line Items] | |||||
| Stock Repurchase Program, Authorized Amount | $ 600,000,000 | ||||
| Stock Repurchased and Retired During Period, Shares | 557,981 | ||||
| Treasury Stock Acquired, Average Cost Per Share | $ 213.21 | ||||
| Stock Repurchased and Retired During Period, Value | $ 119,000,000 | ||||
| Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 481,000,000 | ||||
Stockholders' Equity Accumulate
| Stockholders' Equity Accumulated Other Comprehensive Income (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | Jun. 28, 2016 | Dec. 29, 2015 | Jun. 30, 2015 | Dec. 30, 2014 | |
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (7,478,000) | $ (5,993,000) | $ (7,478,000) | $ (5,993,000) | $ (8,501,000) | $ (5,029,000) | $ (2,063,000) | $ (1,360,000) |
| Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 605,000 | (3,930,000) | (2,867,000) | (4,633,000) | ||||
| Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 418,000 | 0 | 418,000 | 0 | ||||
| Other Comprehensive Income (Loss), Net of Tax | 1,023,000 | (3,930,000) | (2,449,000) | (4,633,000) | ||||
| Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | ||||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | (2,715,000) | (3,026,000) | (2,715,000) | (3,026,000) | (2,631,000) | (3,486,000) | (2,063,000) | (1,360,000) |
| Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (84,000) | (963,000) | 771,000 | (1,666,000) | ||||
| Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 | 0 | ||||
| Other Comprehensive Income (Loss), Net of Tax | (84,000) | (963,000) | 771,000 | (1,666,000) | ||||
| Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | ||||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | (4,763,000) | (2,967,000) | (4,763,000) | (2,967,000) | $ (5,870,000) | $ (1,543,000) | $ 0 | $ 0 |
| Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 689,000 | (2,967,000) | (3,638,000) | (2,967,000) | ||||
| Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 418,000 | 0 | 418,000 | 0 | ||||
| Other Comprehensive Income (Loss), Net of Tax | $ 1,107,000 | $ (2,967,000) | $ (3,220,000) | $ (2,967,000) | ||||
Commitments and Contingencies (
| Commitments and Contingencies (Detail Textuals) $ in Millions | 9 Months Ended |
| Sep. 27, 2016USD ($)franchisee | |
| Guarantee of Indebtedness of Others [Member] | |
| Loss Contingencies [Line Items] | |
| Franchisees guaranteed under operating leases (in franchisees) | franchisee | 98 |
| Potential amount of future rental payments | $ | $ 298.9 |
| Minimum [Member] | |
| Loss Contingencies [Line Items] | |
| Lease Expiration Date | Jul. 15, 2020 |
| Maximum [Member] | |
| Loss Contingencies [Line Items] | |
| Lease Expiration Date | Feb. 28, 2049 |
Business Segment Information (D
| Business Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | Dec. 29, 2015 | Dec. 30, 2014 | |
| Segment Reporting Information [Line Items] | ||||||
| Refranchising loss | $ 129 | $ 2,174 | $ 9,072 | $ 11,732 | ||
| Revenues: | ||||||
| Total revenues | 684,206 | 664,654 | 2,068,259 | 1,989,815 | ||
| Segment profit: | ||||||
| Total segment profit | 135,405 | 124,581 | 415,459 | 377,913 | ||
| Depreciation and amortization | 38,985 | 33,885 | 114,073 | 100,167 | ||
| Unallocated General and Administrative Expenses | 43,538 | 37,575 | 130,657 | 103,515 | ||
| Pre-opening expenses | 1,948 | 2,298 | 5,584 | 6,253 | ||
| Interest expense | 2,529 | 1,363 | 6,059 | 2,266 | ||
| Other (income) expense, net | 411 | (55) | 274 | 948 | ||
| Income before income taxes | 49,281 | 50,794 | 162,750 | 168,497 | ||
| Capital expenditures: | ||||||
| Capital Expenditures | 47,409 | 48,445 | 146,364 | 153,301 | ||
| Segment Assets | ||||||
| Unallocated cash and cash equivalents | 86,598 | 275,177 | 86,598 | 275,177 | $ 241,886 | $ 196,493 |
| Unallocated trade and other accounts receivable | 47,717 | 47,717 | 38,211 | |||
| Unallocated property and equipment | 795,476 | 795,476 | 776,248 | |||
| Total assets | 1,253,536 | 1,253,536 | 1,440,839 | |||
| Company bakery cafe operations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | 593,434 | 584,664 | 1,801,502 | 1,756,464 | ||
| Franchise operations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | 38,210 | 33,740 | 114,079 | 98,952 | ||
| Operating Segments [Member] | ||||||
| Segment profit: | ||||||
| Depreciation and amortization | 38,985 | 114,073 | 100,167 | |||
| Unallocated Amount to Segment [Member] | ||||||
| Segment profit: | ||||||
| Unallocated General and Administrative Expenses | 42,251 | 36,296 | 126,719 | 99,782 | ||
| Segment Assets | ||||||
| Unallocated cash and cash equivalents | 86,598 | 86,598 | 241,886 | |||
| Unallocated trade and other accounts receivable | 7,022 | 7,022 | 2,968 | |||
| Unallocated property and equipment | 114,536 | 114,536 | 107,333 | |||
| Unallocated deposits and other | 5,560 | 5,560 | 6,660 | |||
| Other unallocated assets | 24,720 | 24,720 | 39,592 | |||
| Operating Segments [Member] | ||||||
| Segment Assets | ||||||
| Total assets | 1,015,100 | 1,015,100 | 1,042,400 | |||
| Operating Segments [Member] | Company bakery cafe operations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | 593,434 | 584,664 | 1,801,502 | 1,756,464 | ||
| Segment profit: | ||||||
| Total segment profit | 92,267 | 87,513 | 286,216 | 266,456 | ||
| Depreciation and amortization | 28,894 | 26,004 | 85,828 | 78,698 | ||
| Capital expenditures: | ||||||
| Capital Expenditures | 33,723 | 39,756 | 104,070 | 117,866 | ||
| Segment Assets | ||||||
| Total assets | 910,698 | 910,698 | 953,717 | |||
| Operating Segments [Member] | Franchise operations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | 38,210 | 33,740 | 114,079 | 98,952 | ||
| Segment profit: | ||||||
| Total segment profit | 36,923 | 32,461 | 110,141 | 95,219 | ||
| Segment Assets | ||||||
| Total assets | 18,462 | 18,462 | 13,049 | |||
| Operating Segments [Member] | Fresh dough and other product operations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | 103,041 | 96,198 | 301,320 | 284,089 | ||
| Segment profit: | ||||||
| Total segment profit | 6,215 | 4,607 | 19,102 | 16,238 | ||
| Depreciation and amortization | 2,519 | 2,321 | 7,157 | 6,855 | ||
| Capital expenditures: | ||||||
| Capital Expenditures | 3,026 | 3,217 | 13,585 | 7,710 | ||
| Segment Assets | ||||||
| Total assets | 85,940 | 85,940 | $ 75,634 | |||
| Operating Segments [Member] | Corporate Administration [Member] | ||||||
| Segment profit: | ||||||
| Depreciation and amortization | 7,572 | 5,560 | 21,088 | 14,614 | ||
| Capital expenditures: | ||||||
| Capital Expenditures | 10,660 | 5,472 | 28,709 | 27,725 | ||
| Intersegment Eliminations [Member] | Intersegment Eliminations [Member] | ||||||
| Revenues: | ||||||
| Total revenues | $ (50,479) | $ (49,948) | $ (148,642) | $ (149,690) | ||
Business Segment Information Bu
| Business Segment Information Business Segment Information (Detail Textuals) | 9 Months Ended |
| Sep. 27, 2016segments | |
| Segment Reporting [Abstract] | |
| Maximum Delivered Cost On Fresh Dough Based On Retail Value Of End Product (as a percent) | 27.00% |
| Segment Reporting Information Number Of Business Segments (in segments) | 3 |
Income Taxes (Details)
| Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | |
| Income Taxes [Line Items] | ||||
| Effective Income Tax Rate Reconciliation, Percent | 35.20% | 36.20% | 37.60% | 37.00% |
| Refranchising loss | $ 129 | $ 2,174 | $ 9,072 | $ 11,732 |
| Refranchised Cafe [Member] | ||||
| Income Taxes [Line Items] | ||||
| Refranchising loss | $ 7,000 | |||
Earnings Per Share (Details)
| Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | |
| Amounts used for basic and diluted per share calculations | ||||
| Net income attributable to Panera Bread Company | $ 31,975 | $ 32,393 | $ 101,564 | $ 106,182 |
| Weighted average number of shares outstanding - basic (in shares) | 23,276 | 25,394 | 23,651 | 26,011 |
| Effect of dilutive stock-based employee compensation awards (in shares) | 115 | 107 | 123 | 108 |
| Weighted average number of shares outstanding - diluted (in shares) | 23,391 | 25,501 | 23,774 | 26,119 |
| Earnings per common share: | ||||
| Basic (in dollars per share) | $ 1.37 | $ 1.28 | $ 4.29 | $ 4.08 |
| Diluted (in dollars per share) | $ 1.37 | $ 1.27 | $ 4.27 | $ 4.07 |
Earnings Per Share (Details Tex
| Earnings Per Share (Details Textuals) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
| Sep. 27, 2016 | Sep. 29, 2015 | Sep. 27, 2016 | Sep. 29, 2015 | |
| Stock Compensation Plan [Member] | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
| Shares excluded from computation of earning per share | 0.1 | 0.1 | 0.1 | 0.1 |
Supplemental Cash Flow Inform45
| Supplemental Cash Flow Information (Details) - USD ($) | 9 Months Ended | |
| Sep. 27, 2016 | Sep. 29, 2015 | |
| Supplemental Cash Flow Information [Abstract] | ||
| Interest Paid | $ 5,358,000 | $ 1,783,000 |
| Income Taxes Paid | 49,914,000 | 72,519,000 |
| Change in Accrued Capital Expenditures | (14,725,000) | 13,764,000 |
| Stock Repurchased and Retired During Period, Accrued | 7,481,000 | 0 |
| Promissory Note Received in Lieu of Cash | (4,482,000) | 0 |
| Noncash or Part Noncash Acquisition, Fixed Assets Acquired | 0 | 12,680,000 |
| Asset Retirement Obligation | $ 514,000 | $ 348,000 |