Denny's (DENN) 10-Q 1 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 28, 2022	Oct. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2022
Document Transition Report	false
Entity File Number	0-18051
Entity Registrant Name	DENNY’S CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3487402
Entity Address, Address Line One	203 East Main Street
Entity Address, City or Town	Spartanburg,
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29319-0001
City Area Code	864
Local Phone Number	597-8000
Title of 12(b) Security	$.01 Par Value, Common Stock
Trading Symbol	DENN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,233,274
Entity Central Index Key	0000852772
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Current assets:
Cash and cash equivalents	$ 4,346	$ 30,624
Investments	1,763	2,551
Receivables, net	24,513	19,621
Inventories	9,018	5,060
Assets held for sale	1,061	0
Prepaid and other current assets	9,709	11,393
Total current assets	50,410	69,249
Property, net of accumulated depreciation of $151,797 and $151,836, respectively	95,547	91,176
Finance lease right-of-use assets, net of accumulated amortization of $9,464 and $11,210, respectively	6,879	7,709
Operating lease right-of-use assets, net	130,650	128,727
Goodwill	72,740	36,884
Intangible assets, net	95,465	50,226
Deferred financing costs, net	2,496	2,971
Deferred income taxes, net	0	11,502
Other noncurrent assets	43,481	37,083
Total assets	497,668	435,527
Current liabilities:
Current finance lease liabilities	1,833	1,952
Current operating lease liabilities	15,831	15,829
Accounts payable	12,248	15,595
Other current liabilities	62,768	64,146
Total current liabilities	92,680	97,522
Long-term liabilities:
Long-term debt	266,500	170,000
Noncurrent finance lease liabilities	9,884	10,744
Noncurrent operating lease liabilities	127,620	126,296
Liability for insurance claims, less current portion	7,514	8,438
Deferred income taxes, net	7,890	0
Other noncurrent liabilities	30,210	87,792
Total long-term liabilities	449,618	403,270
Total liabilities	542,298	500,792
Shareholders' deficit
Common stock $0.01 par value; 135,000 shares authorized; September 28, 2022: 64,998 shares issued and 57,501 outstanding; December 29, 2021: 64,200 shares issued and 62,210 shares outstanding	650	642
Paid-in capital	140,234	135,596
Deficit	(54,500)	(116,441)
Accumulated other comprehensive loss, net	(43,303)	(54,470)
Treasury stock, at cost, 7,497 and 1,990 shares, respectively	(87,711)	(30,592)
Total shareholders' deficit	(44,630)	(65,265)
Total liabilities and shareholders' deficit	$ 497,668	$ 435,527

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Assets
Accumulated depreciation	$ 151,797	$ 151,836
Accumulated amortization	$ 9,464	$ 11,210
Shareholders' deficit
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	135,000,000	135,000,000
Common stock, shares issued (in shares)	64,998,000	64,200,000
Common stock, shares outstanding (in shares)	57,501,000	62,210,000
Treasury stock, at cost (in shares)	7,497,000	1,990,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Revenue:
Total operating revenue	$ 117,456	$ 103,794	$ 335,580	$ 290,535
Costs of company restaurant sales, excluding depreciation and amortization:
Product costs	14,462	11,430	38,874	31,149
Payroll and benefits	20,176	17,404	55,598	47,339
Occupancy	4,294	3,013	11,316	8,707
Other operating expenses	9,519	6,722	26,116	19,351
Total costs of company restaurant sales, excluding depreciation and amortization	48,451	38,569	131,904	106,546
Costs of franchise and license revenue, excluding depreciation and amortization	34,579	27,469	100,513	79,962
General and administrative expenses	16,607	16,497	50,188	50,992
Depreciation and amortization	3,914	3,822	11,052	11,380
Operating (gains), losses and other charges, net	(1,897)	(215)	(1,051)	204
Total operating costs and expenses, net	101,654	86,142	292,606	249,084
Operating income	15,802	17,652	42,974	41,451
Interest expense, net	3,691	3,671	9,529	12,014
Other nonoperating income, net	(10,461)	(2,368)	(49,871)	(16,165)
Income before income taxes	22,572	16,349	83,316	45,602
Provision for income taxes	5,489	4,084	21,375	10,984
Net income	$ 17,083	$ 12,265	$ 61,941	$ 34,618
Net income per share - basic (in dollars per share)	$ 0.29	$ 0.19	$ 1.01	$ 0.53
Net income per share - diluted (in dollars per share)	$ 0.29	$ 0.19	$ 1	$ 0.53
Basic weighted average shares outstanding (in shares)	59,020	65,447	61,558	65,413
Diluted weighted average shares outstanding (in shares)	59,040	65,829	61,686	65,814
Company restaurant sales
Revenue:
Total operating revenue	$ 52,211	$ 46,470	$ 145,354	$ 127,611
Franchise and license revenue
Revenue:
Total operating revenue	$ 65,245	$ 57,324	$ 190,226	$ 162,924

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 17,083	$ 12,265	$ 61,941	$ 34,618
Other comprehensive income, net of tax:
Minimum pension liability adjustment, net of tax of $8, $10, $23 and $31, respectively	23	30	69	89
Changes in the fair value of cash flow hedges, net of tax of $956, $14, $3,242 and $585, respectively	2,868	43	9,723	1,697
Reclassification of cash flow hedges to interest expense, net of tax of $27, $259, $455 and $771, respectively	80	751	1,363	2,239
Amortization of unrealized losses related to dedesignated swaps to interest expense, net of tax of $3, $0, $4 and $42, respectively	7	0	12	124
Other comprehensive income	2,978	824	11,167	4,149
Total comprehensive income	$ 20,061	$ 13,089	$ 73,108	$ 38,767

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Statement of Comprehensive Income [Abstract]
Tax effect of minimum pension liability adjustment	$ 8	$ 10	$ 23	$ 31
Changes in fair value of cash flow derivatives, tax	956	14	3,242	585
Reclassification of cash flow derivatives to interest expense, tax	27	259	455	771
Reclassification of unrealized losses related to derivatives to interest expense, tax	$ 3	$ 0	$ 4	$ 42

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Paid-in Capital	Deficit	Accumulated Other Comprehensive Loss, Net
Balance as of beginning of period (in shares) at Dec. 30, 2020		63,962
Balance as of beginning of period at Dec. 30, 2020	$ (130,446)	$ 640	$ 0	$ 123,833	$ (194,514)	$ (60,405)
Balance as of beginning of period, treasury stock (in shares) at Dec. 30, 2020			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,618				34,618
Other comprehensive income	4,149					4,149
Share-based compensation on equity classified awards, net of withholding tax	8,489			8,489
Purchase of treasury stock (in shares)			(405)
Purchase of treasury stock	(6,563)		$ (6,563)
Issuance of common stock for share-based compensation (in shares)		208
Issuance of common stock for share-based compensation	0	$ 2		(2)
Exercise of common stock options (in shares)		30
Exercise of common stock options	116			116
Balance as of end of period (in shares) at Sep. 29, 2021		64,200
Balance as of end of period at Sep. 29, 2021	(89,637)	$ 642	$ (6,563)	132,436	(159,896)	(56,256)
Balance as of end of period, treasury stock (in shares) at Sep. 29, 2021			(405)
Balance as of beginning of period (in shares) at Jun. 30, 2021		64,200
Balance as of beginning of period at Jun. 30, 2021	(99,423)	$ 642	$ 0	129,176	(172,161)	(57,080)
Balance as of beginning of period, treasury stock (in shares) at Jun. 30, 2021			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,265				12,265
Other comprehensive income	824					824
Share-based compensation on equity classified awards, net of withholding tax	3,260			3,260
Purchase of treasury stock (in shares)			(405)
Purchase of treasury stock	(6,563)		$ (6,563)
Balance as of end of period (in shares) at Sep. 29, 2021		64,200
Balance as of end of period at Sep. 29, 2021	$ (89,637)	$ 642	$ (6,563)	132,436	(159,896)	(56,256)
Balance as of end of period, treasury stock (in shares) at Sep. 29, 2021			(405)
Balance as of beginning of period (in shares) at Dec. 29, 2021	64,200	64,200
Balance as of beginning of period at Dec. 29, 2021	$ (65,265)	$ 642	$ (30,592)	135,596	(116,441)	(54,470)
Balance as of beginning of period, treasury stock (in shares) at Dec. 29, 2021	(1,990)		(1,990)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 61,941				61,941
Other comprehensive income	11,167					11,167
Share-based compensation on equity classified awards, net of withholding tax	$ 4,646			4,646
Purchase of treasury stock (in shares)	(5,500)		(5,507)
Purchase of treasury stock	$ (57,119)		$ (57,119)
Issuance of common stock for share-based compensation (in shares)		798
Issuance of common stock for share-based compensation	$ 0	$ 8		(8)
Balance as of end of period (in shares) at Sep. 28, 2022	64,998	64,998
Balance as of end of period at Sep. 28, 2022	$ (44,630)	$ 650	$ (87,711)	140,234	(54,500)	(43,303)
Balance as of end of period, treasury stock (in shares) at Sep. 28, 2022	(7,497)		(7,497)
Balance as of beginning of period (in shares) at Jun. 29, 2022		64,998
Balance as of beginning of period at Jun. 29, 2022	$ (58,708)	$ 650	$ (79,841)	138,347	(71,583)	(46,281)
Balance as of beginning of period, treasury stock (in shares) at Jun. 29, 2022			(6,654)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	17,083				17,083
Other comprehensive income	2,978					2,978
Share-based compensation on equity classified awards, net of withholding tax	1,887			1,887
Purchase of treasury stock (in shares)			(843)
Purchase of treasury stock	$ (7,870)		$ (7,870)
Balance as of end of period (in shares) at Sep. 28, 2022	64,998	64,998
Balance as of end of period at Sep. 28, 2022	$ (44,630)	$ 650	$ (87,711)	$ 140,234	$ (54,500)	$ (43,303)
Balance as of end of period, treasury stock (in shares) at Sep. 28, 2022	(7,497)		(7,497)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021
Cash flows from operating activities:
Net income	$ 61,941	$ 34,618
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation and amortization	11,052	11,380
Operating (gains), losses and other charges, net	(1,051)	204
Gains and amortization on dedesignated interest rate swaps, net	(52,678)	(14,771)
Amortization of deferred financing costs	475	946
Losses (gains) on investments	289	(11)
Gains on early termination of debt and leases	(29)	(52)
Deferred income tax expense	15,669	3,713
Share-based compensation expense	9,467	10,212
Changes in assets and liabilities, excluding acquisitions and dispositions:
Receivables	(4,788)	4,182
Inventories	(3,866)	(49)
Prepaids and other current assets	1,683	4,296
Other noncurrent assets	3,189	(1,021)
Operating lease assets and liabilities	(560)	(1,150)
Accounts payable	(3,115)	6,360
Accrued payroll	(3,385)	1,462
Accrued taxes	1,926	1,253
Other accrued liabilities	(2,024)	5,890
Other noncurrent liabilities	(9,245)	(4,233)
Net cash flows provided by operating activities	24,950	63,229
Cash flows from investing activities:
Capital expenditures	(10,146)	(5,321)
Acquisition of restaurant	(750)	0
Acquisition of Keke's Breakfast Cafe	(81,500)	0
Proceeds from sales of restaurants, real estate and other assets	4,114	1,785
Investment purchases	(1,200)	0
Proceeds from sale of investments	1,700	200
Refund of deposits for real estate acquisitions	3,624	0
Collections on notes receivable	184	539
Issuance of notes receivable	0	(115)
Net cash flows used in investing activities	(83,974)	(2,912)
Cash flows from financing activities:
Revolver borrowings	156,325	181,000
Revolver payments	(59,825)	(221,000)
Repayments of finance leases	(1,513)	(1,583)
Proceeds from exercise of stock options	0	116
Tax withholding on share-based payments	(4,781)	(1,377)
Deferred financing costs	0	(1,809)
Purchase of treasury stock	(57,460)	(6,228)
Net bank overdrafts	0	(3,125)
Net cash flows provided by (used in) financing activities	32,746	(54,006)
Increase (decrease) in cash and cash equivalents	(26,278)	6,311
Cash and cash equivalents at beginning of period	30,624	3,892
Cash and cash equivalents at end of period	$ 4,346	$ 10,203

Introduction and Basis of Prese

Introduction and Basis of Presentation	9 Months Ended
	Sep. 28, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Introduction and Basis of Presentation	Introduction and Basis of Presentation Denny’s Corporation, or the Company, is one of America’s largest full-service restaurant chains based on number of restaurants. As of September 28, 2022, the Company consisted of 1,666 restaurants, 1,592 of which were franchised/licensed restaurants and 74 of which were company operated. The Company consists of the Denny’s brand and the Keke’s Breakfast Café brand (“Keke’s”). Keke’s was acquired on July 20, 2022, see Note 3 for details. As of September 28, 2022, the Denny's brand consisted of 1,613 restaurants, 1,547 of which were franchised/licensed restaurants and 66 of which were company operated. At September 28, 2022, the Keke's brand consisted of 53 restaurants, 45 of which were franchised restaurants and eight of which were company operated. We manage our restaurant brands, Denny’s and Keke’s as operating segments. We aggregate our operating segments into one reportable segment based on similar economic characteristics, nature of products and services, methods to provide services, and types of customers between the brands. The global crisis resulting from the spread of coronavirus ("COVID-19") has had a substantial impact on our restaurant operations starting in the quarter ended March 25, 2020 with continuing impacts into the current quarter ended September 28, 2022, including impacts on labor and commodity costs and the ability of many franchise restaurants to return to 24/7 operations. While we have seen improvements compared to earlier periods during the COVID-19 pandemic, we cannot currently estimate the duration or future financial impact of the COVID-19 pandemic on our business. Ongoing material adverse effects of the COVID-19 pandemic for an extended period could negatively affect our business, results of operations, liquidity and financial condition and could impact our impairment assessments of accounts receivable, property, right-of-use ("ROU") assets, goodwill and intangible assets. Our unaudited consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for interim financial information. Therefore, certain information and notes normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. In our opinion, all adjustments considered necessary for a fair presentation of the interim periods presented have been included. Such adjustments are of a normal and recurring nature. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions; however, we believe that our estimates are reasonable. These interim consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto as of and for the fiscal year ended December 29, 2021 which are contained in our audited Annual Report on Form 10-K for the fiscal year ended December 29, 2021. The results of operations for the interim periods presented are not necessarily indicative of the results for the entire fiscal year ending December 28, 2022. Our significant interim accounting policies include the recognition of advertising and marketing costs, generally in proportion to revenue, and the recognition of income taxes using an estimated annual effective rate.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 28, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Newly Adopted Accounting Standards In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was later clarified in January 2021 by ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. The guidance provides optional guidance, for a limited time, to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The Company adopted ASU 2020-04 on March 12, 2020. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on the Company’s consolidated financial position or results of operations. The guidance is effective through December 31, 2022. Accounting Standards to be Adopted We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on our consolidated financial statements as a result of future adoption.

Acquisition of Keke's Breakfast

Acquisition of Keke's Breakfast Cafe	9 Months Ended
	Sep. 28, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition of Keke's Breakfast Cafe	Acquisition of Keke's Breakfast Cafe On July 20, 2022, the Company completed its acquisition of Keke's pursuant to that certain Asset Purchase Agreement (the "Purchase Agreement"), dated May 3, 2022, which was subsequently amended by the First Amendment to Asset Purchase Agreement (the "First Amendment"), dated July 11, 2022, by and between the Company, as purchaser, and K2 Restaurants, Inc. together with the other sellers and principals party thereto, for the acquisition of certain assets and assumption of certain liabilities of the franchise business, consisting of 44 franchised restaurants, and eight company owned and operated restaurants. Pursuant to the Purchase Agreement, we agreed to purchase Keke's for an aggregate purchase price of $82.5 million. Of the aggregate purchase price, $81.5 million was funded by utilizing cash on hand as well as funds from the Company's revolving credit facility, with the remaining $1.0 million to be paid as part of the post closing adjustments. The acquisition was accounted for as a business combination using the acquisition method of accounting. The preliminary allocation of the purchase price is based on management's analysis, including work performed by third party valuation specialists. We will continue to obtain information to assist in determining the fair value of net assets acquired during the measurement period. The components of the preliminary purchase price allocation were as follows: (In thousands) Gross cash consideration $ 81,500 Payable to seller (included in other current liabilities) 1,000 Total consideration paid 82,500 Assets: Property 2,015 Operating lease ROU assets 7,908 Franchise agreements 10,700 Trade name 35,600 Liabilities: Operating lease liabilities 7,908 Deferred franchise revenue 992 Other liabilities 36 Net assets acquired, excluding goodwill 47,287 Goodwill $ 35,213 The Keke's trade name has been assigned an indefinite life, and therefore, will not be amortized, but rather tested annually for impairment. Franchise agreements have a weighted average useful life of 14.9 years. Goodwill attributable to the Keke's acquisition will be amortized and deductible for tax purposes. Goodwill is considered to represent the value associated with the workforce and synergies anticipated to be realized as a combined company. Acquisition transaction costs totaling approximately $0.6 million during the year-to-date period ended September 28, 2022 were recorded in general and administrative expenses in the accompanying Consolidated Statements of Operations. Results of operations starting from the date of acquisition of Keke's have been included in our unaudited Consolidated Financial Statements for the quarter and year-to-date periods ended September 28, 2022. The Keke's acquisition is not material to our unaudited Consolidated Financial Statements, and therefore, supplemental pro forma financial information for the quarter and year-to-date periods ended September 28, 2022 and the respective prior year periods related to the acquisition is not included herein.

Receivables

Receivables	9 Months Ended
	Sep. 28, 2022
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following: September 28, 2022 December 29, 2021 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 12,393 $ 13,430 Financing receivables from franchisees 9,296 1,027 Vendor receivables 1,637 4,041 Credit card receivables 596 747 Other 1,140 950 Allowance for doubtful accounts (549) (574) Total receivables, net $ 24,513 $ 19,621 Other noncurrent assets: Financing receivables from franchisees $ 6 $ 293

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following table reflects the changes in carrying amount of goodwill: (In thousands) Balance, December 29, 2021 $ 36,884 Addition related to the acquisition of Keke's 35,213 Addition related to the acquisition of a Denny's franchise unit 643 Balance, September 28, 2022 72,740 Intangible assets consisted of the following: September 28, 2022 December 29, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names (1) $ 79,687 $ — $ 44,087 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 11,801 6,739 12,218 6,199 Franchise agreements (1) 10,700 104 — — Intangible assets, net $ 102,308 $ 6,843 $ 56,425 $ 6,199 (1) The increases in trade names and franchise agreements is a result of the Keke's acquisition. See Note 3 for details on the Keke's acquisition. Amortization expense for intangible assets with definite lives totaled $0.4 million and $1.1 million for the quarter and year-to-date periods ended September 28, 2022, respectively. Amortization expense for intangible assets with definite lives totaled $0.3 million and $1.0 million for the quarter and year-to-date period ended September 29, 2021, respectively. As of September 28, 2022, estimated amortization expense for intangible assets with definite lives in the next five years is as follows: (In thousands) Remainder of 2022 $ 429 2023 1,536 2024 1,466 2025 1,410 2026 1,242

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 28, 2022
Other Liabilities, Current [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities consisted of the following: September 28, 2022 December 29, 2021 (In thousands) Accrued payroll $ 17,348 $ 20,676 Current portion of liability for insurance claims 3,951 4,285 Accrued taxes 6,459 4,533 Accrued advertising 13,825 15,355 Gift cards 5,512 7,170 Accrued legal settlements 5,465 3,173 Other 10,208 8,954 Other current liabilities $ 62,768 $ 64,146

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 28, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Financial assets and liabilities measured at fair value on a recurring basis are summarized below: Total Quoted Prices in Active Markets for Identical Assets/Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands ) Fair value measurements as of September 28, 2022: Deferred compensation plan investments (1) $ 10,445 $ 10,445 $ — $ — Interest rate swaps, net (2) 17,563 — 17,563 — Investments (3) 1,763 — 1,763 — Total $ 29,771 $ 10,445 $ 19,326 $ — Fair value measurements as of December 29, 2021: Deferred compensation plan investments (1) $ 13,726 $ 13,726 $ — $ — Interest rate swaps (2) (52,121) — (52,121) — Investments (3) 2,551 — 2,551 — Total $ (35,844) $ 13,726 $ (49,570) $ — (1) The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments and are included in other noncurrent assets in our Consolidated Balance Sheets. (2) The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models. The key inputs for the valuation models are quoted market prices, interest rates and forward yield curves. See Note 8 for details on the interest rate swaps. (3) The fair values of our investments are valued using a readily determinable net asset value per share based on the fair value of the underlying securities. There are no significant redemption restrictions associated with these investments. Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: Significant Unobservable Inputs Impairment Charges (In thousands) Fair value measurements for the year-to-date period ended September 28, 2022: Assets held and used (1) $ 753 $ 963 (1) As of September 28, 2022, impaired assets were written down to their fair value. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly. There is uncertainty in the projected future cash flows used in the Company's impairment analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods. Assets that are measured at fair value on a non-recurring basis include property, operating ROU assets, finance ROU assets and reacquired franchise rights. During the year-to-date period ended September 28, 2022, we recognized impairment charges of $1.0 million related to certain of these assets. See Note 10. Additionally, assets measured at fair value on a non-recurring basis as part of the Keke’s acquisition include franchise agreements, trade name and goodwill. See Note 3 for more details. The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses are deemed to approximate fair value due to the immediate or short-term maturity of these instruments. The fair value of notes receivable approximates the carrying value after consideration of recorded allowances and related risk-based interest rates. The outstanding senior secured revolver is carried at historical cost, which approximates fair value. The fair value of our senior secured revolver approximates its carrying value since it is a variable rate facility (Level 2).

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 28, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company and certain of its subsidiaries have a credit facility consisting of a five-year $400 million senior secured revolver (with a $25 million letter of credit sublimit). The credit facility includes an accordion feature that would allow us to increase the size of the facility to $450 million. Borrowings bear a tiered interest rate, which is based on the Company's consolidated leverage ratio. The maturity date for the credit facility is August 26, 2026. The credit facility is available for working capital, capital expenditures and other general corporate purposes. The credit facility is guaranteed by the Company and its material subsidiaries and is secured by assets of the Company and its subsidiaries, including the stock of its subsidiaries (other than its insurance captive subsidiary). It includes negative covenants that are usual for facilities and transactions of this type. The credit facility also includes certain financial covenants with respect to a maximum consolidated leverage ratio and a minimum consolidated fixed charge coverage ratio. We were in compliance with all financial covenants as of September 28, 2022. As of September 28, 2022, we had outstanding revolver loans of $266.5 million and outstanding letters of credit under the credit facility of $12.3 million. These balances resulted in unused commitments of $121.2 million as of September 28, 2022 under the credit facility. As of September 28, 2022, borrowings under the credit facility bore interest at a rate of LIBOR plus 1.75% and the commitment fee, paid on the unused portion of the credit facility, was set to 0.25%. Prior to considering the impact of our interest rate swaps, described below, the weighted-average interest rate on outstanding revolver loans was 4.45% and 2.09% as of September 28, 2022 and December 29, 2021, respectively. Taking into consideration our interest rate swaps that are designated as cash flow hedges, the weighted-average interest rate of outstanding revolver loans was 4.40% and 4.44% as of September 28, 2022 and December 29, 2021, respectively. Interest Rate Hedges We have receive-variable, pay-fixed interest rate swaps to hedge the forecasted cash flows of our floating rate debt. We initially designated the interest rate swaps as cash flow hedges of our exposure to variability in future cash flows attributable to variable interest payments due on forecasted notional amounts. A summary of our interest rate swaps as of September 28, 2022 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as cash flow hedges March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 4,748 2.44 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 2,402 2.46 % Dedesignated swaps February 15, 2018 March 31, 2020 December 31, 2033 $ 120,000 (1) $ 10,413 3.19 % Total $ 290,000 $ 17,563 (1) The notional amounts of the swaps entered into on February 15, 2018 increase periodically until they reach the maximum notional amount of $425.0 million on September 28, 2029. Swaps Designated as Cash Flow Hedges To the extent the swaps are highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the swaps are not included in the Consolidated Statements of Operations but are reported as a component of other comprehensive income. The interest rate swaps entered into in 2015 are designated as cash flow hedges with unrealized gains and losses recorded as a component of accumulated other comprehensive loss, net. As of September 28, 2022, the fair value of the swaps designated as cash flow hedges was an asset of $7.1 million, recorded as a component of other noncurrent assets. The designated swaps have an offsetting amount (before taxes) recorded as a component of accumulated other comprehensive loss, net in our Consolidated Balance Sheets. See Note 14 for amounts recorded in accumulated other comprehensive loss related to interest rate swaps. We expect to reclassify approximately $1.1 million from accumulated other comprehensive loss, net as a reduction to interest expense, net in our Consolidated Statements of Operations related to swaps designated as cash flow hedges during the next 12 months. Dedesignated Interest Rate Swaps During the year ended December 30, 2020, we determined that a portion of the underlying cash flows related to our hedging relationship entered into in 2018 (“2018 Swaps”) were no longer probable of occurring over the term of the interest rate swaps. Accordingly, we dedesignated the cash flow relationship and discontinued hedge accounting treatment for the 2018 Swaps. As a result, we reclassified a portion of losses from accumulated other comprehensive loss, net to other nonoperating income, net in our Consolidated Statements of Operations and began amortizing the remaining amounts of unrealized losses related to the 2018 Swaps from accumulated other comprehensive loss, net into our Consolidated Statements of Operations as a component of interest expense, net over the remaining term of the 2018 Swaps. For the quarter and three quarters ended September 28, 2022, unrealized losses of less than $0.1 million were reclassified to interest expense, net related to the 2018 Swaps. For the quarter and three quarters ended September 29, 2021, no unrealized losses and approximately $0.2 million of unrealized losses, respectively, were reclassified to interest expense, net related to the 2018 Swaps. At September 28, 2022, $64.2 million (before taxes) of unrealized losses remained in accumulated other comprehensive loss, net. We expect to amortize approximately $0.2 million from accumulated other comprehensive loss, net to interest expense, net in our Consolidated Statements of Operations related to dedesignated interest rate swaps during the next 12 months.

Revenues

Revenues	9 Months Ended
	Sep. 28, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Our revenues are derived primarily from two sales channels: company restaurants and franchised and licensed restaurants. The following table disaggregates our revenue by sales channel and type of good or service: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Company restaurant sales $ 52,211 $ 46,470 $ 145,354 $ 127,611 Franchise and license revenue: Royalties 28,992 27,336 84,276 75,297 Advertising revenue 18,950 18,215 56,642 50,926 Initial and other fees 7,749 1,442 20,035 5,346 Occupancy revenue 9,554 10,331 29,273 31,355 Franchise and license revenue 65,245 57,324 190,226 162,924 Total operating revenue $ 117,456 $ 103,794 $ 335,580 $ 290,535 Franchise occupancy revenue consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Operating lease revenue $ 7,074 $ 7,594 $ 21,745 $ 23,175 Variable lease revenue 2,480 2,737 7,528 8,180 Total occupancy revenue $ 9,554 $ 10,331 $ 29,273 $ 31,355 Balances related to contracts with customers consist of receivables, deferred franchise revenue and deferred gift card revenue. See Note 4 for details on our receivables. The components of the change in deferred franchise revenue are as follows: (In thousands) Balance, December 29, 2021 $ 19,896 Fees received from franchisees 2,853 Acquired deferred franchise revenue 992 Franchisee deferred costs (1) (3,845) Revenue recognized, net (2) (2,184) Balance, September 28, 2022 17,712 Less current portion included in other current liabilities 1,881 Deferred franchise revenue included in other noncurrent liabilities $ 15,831 (1) Deferred costs are contract assets consisting of incentives given to franchisees related to the rollout of kitchen equipment to all franchise locations. (2) Of this amount $1.9 million was included in the deferred franchise revenue balance as of December 29, 2021. Deferred franchise revenue consists primarily of the unamortized portion of initial franchise fees that are currently being amortized into revenue and amounts related to development agreements and unopened restaurants that we will begin amortizing into revenue when the related restaurants are opened net of certain deferred costs. Deferred franchise revenue represents our remaining performance obligations to our franchisees, excluding amounts of variable consideration related to sales-based royalties and advertising. The Company has purchased equipment related to the rollout of kitchen equipment for franchise restaurants which is billed to the franchisee and recognized as revenue as the equipment is installed, less a total of $5.4 million in commitments from the Company, $3.9 million of which has been deferred as contract assets as of September 28, 2022. Amounts committed from the Company are contract assets that have been netted against deferred revenue and will be recognized as a component of franchise and license revenue over the remaining term of the related franchise agreements. For the quarter and three quarters ended September 28, 2022, we have recognized $5.6 million and $13.5 million of revenue, respectively. As of September 28, 2022, we had approximately $7.6 million in inventory and $8.6 million in receivables related to the kitchen equipment rollout. As of December 29, 2021, we had approximately $3.7 million in inventory and $0.4 million in receivables related to the kitchen equipment rollout. Deferred gift card liabilities consist of the unredeemed portion of gift cards sold in company restaurants and at third party locations. The balance of deferred gift card liabilities represents our remaining performance obligations to our customers. The balance of deferred gift card liabilities as of September 28, 2022 and December 29, 2021 was $5.5 million and $7.2 million, respectively. During the year-to-date period ended September 28, 2022, we recognized revenue of $0.4 million from gift card redemptions at company restaurants.

Operating (Gains), Losses and O

Operating (Gains), Losses and Other Charges, Net	9 Months Ended
	Sep. 28, 2022
Other Income and Expenses [Abstract]
Operating (Gains), Losses and Other Charges, Net	Operating (Gains), Losses and Other Charges, Net Operating (gains), losses and other charges, net consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Gains on sales of assets and other, net $ (3,066) $ (93) $ (3,311) $ (1,100) Restructuring charges and exit costs 472 (122) 1,297 1,304 Impairment charges 697 — 963 — Operating (gains), losses and other charges, net $ (1,897) $ (215) $ (1,051) $ 204 As of September 28, 2022, we had recorded assets held for sale at their carrying amount of $1.1 million (consisting of property of $0.9 million and other assets of $0.2 million) related to three parcels of real estate. There were no assets held for sale as of December 29, 2021. Restructuring charges and exit costs consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Exit costs $ 38 $ 101 $ 88 $ 324 Severance and other restructuring charges 434 (223) 1,209 980 Total restructuring charges and exit costs $ 472 $ (122) $ 1,297 $ 1,304 Exit costs primarily consist of costs related to closed restaurants. Exit cost liabilities related to lease costs are included as a component of operating lease liabilities in our Consolidated Balance Sheets. As of September 28, 2022 and December 29, 2021, we had accrued severance and other restructuring charges of $0.9 million and $0.1 million, respectively. The balance as of September 28, 2022 is expected to be paid during the next 12 months. We recorded impairment charges of $0.7 million and $1.0 million (consisting of property and ROU assets) during the quarter and year-to-date period ended September 28, 2022, respectively, resulting from our assessment of underperforming restaurants and recoverability of ROU assets. The $0.7 million included $0.4 million related to property and $0.3 million related to operating lease ROU assets. The $1.0 million included $0.6 million related to property, $0.3 million related to operating lease ROU assets and $0.1 million related to finance lease ROU assets.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 28, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Total share-based compensation included as a component of general and administrative expenses was as follows: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Employee share awards $ 1,706 $ 3,127 $ 8,784 $ 9,544 Restricted stock units for board members 241 225 683 668 Total share-based compensation $ 1,947 $ 3,352 $ 9,467 $ 10,212 Employee Share Awards During the quarter ended March 30, 2022, we granted certain employees approximately 233,000 performance share units ("PSUs") with a grant date fair value of $24.51 per share that vest based on the total shareholder return (“TSR”) of our common stock compared to the TSRs of a group of peer companies and approximately 233,000 PSUs with a grant date fair value of $15.59 per share that vest based on our Adjusted EPS growth rate versus plan, as defined under the terms of the award. As the TSR based PSUs contain a market condition, a Monte Carlo valuation was used to determine the grant date fair value. The performance period for these PSUs is the three year fiscal period beginning December 30, 2021 and ending December 25, 2024. The PSUs will completely vest and be earned at the end of the performance period at which point the relative TSR and Adjusted EPS growth rate achievement percentages will be applied to the vested units (from 0% to 200% of the target award). We recognize compensation cost associated with approximately 312,000 of these PSU awards over the entire performance period on a straight-line basis, with compensation cost for the remaining 154,000 PSU awards recognized on a graded-vesting basis due to the accelerated vesting terms for certain retirement eligible individuals. During the quarter ended March 30, 2022, we also granted certain employees approximately 310,000 restricted stock units ("RSUs") with a grant date fair value of $15.59 per share. The RSUs vest evenly over the three year fiscal period beginning December 30, 2021 and ending December 25, 2024. We recognize compensation cost associated with these RSU awards on a straight-line basis over the entire performance period of the award. Additionally, during the quarters ended June 29, 2022 and September 28, 2022, we granted PSUs and RSUs to certain employees. The grants included approximately 78,000 PSUs with a weighted average grant date fair value of $12.18 per share that vest based on the TSR of our common stock compared to the TSRs of a group of peer companies and approximately 78,000 PSUs with a weighted average grant date fair value of $9.93 per share that vest based on our Adjusted EPS growth rate versus plan, as defined under the terms of the award. As the TSR based PSUs contain a market condition, a Monte Carlo valuation was used to determine the grant date fair value. The performance period and application of achievement percentages for these PSUs are the same as mentioned above. We recognize compensation cost associated with these PSU awards on a straight-line basis. In addition, the grants included approximately 104,000 RSUs with a weighted average grant date fair value of $9.93 per share. During the three quarters ended September 28, 2022, we issued approximately 768,000 shares of common stock related to vested PSUs and RSUs. In addition, approximately 24,000 shares of common stock were deferred and approximately 407,000 shares of common stock were withheld in lieu of taxes related to vested PSUs and RSUs. As of September 28, 2022, we had approximately $11.5 million of unrecognized compensation cost related to unvested PSU awards and RSU awards outstanding, which have a weighted average remaining contractual term of 1.9 years. Restricted Stock Units for Board Members During the quarter and three quarters ended September 28, 2022, we granted less than 0.1 million RSUs (which are equity classified) with a weighted average grant date fair value of $9.93 per unit to non-employee members of our Board of Directors. The RSUs vest after a one year service period. A director may elect to convert these awards into shares of common stock either on a specific date in the future (while still serving as a member of our Board of Directors), upon termination as a member of our Board of Directors, or in three equal annual installments commencing after termination of service as a member of our Board of Directors. During the quarter and three quarters ended September 28, 2022, less than 0.1 million RSUs were converted into shares of common stock.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective income tax rate was 24.3% for the quarter and 25.7% for the year-to-date period ended September 28, 2022, compared to 25.0% and 24.1% for the prior year periods, respectively.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 28, 2022
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The amounts used for the basic and diluted net income per share calculations are summarized below: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands, except per share amounts) Net income $ 17,083 $ 12,265 $ 61,941 $ 34,618 Weighted average shares outstanding - basic 59,020 65,447 61,558 65,413 Effect of dilutive share-based compensation awards 20 382 128 401 Weighted average shares outstanding - diluted 59,040 65,829 61,686 65,814 Net income per share - basic $ 0.29 $ 0.19 $ 1.01 $ 0.53 Net income per share - diluted $ 0.29 $ 0.19 $ 1.00 $ 0.53 Anti-dilutive share-based compensation awards 641 365 737 445

Shareholders' Deficit

Shareholders' Deficit	9 Months Ended
	Sep. 28, 2022
Stockholders' Equity Attributable to Parent [Abstract]
Shareholders' Deficit	Shareholders' Deficit Share Repurchases Our credit facility permits the repurchase of the Company's stock and the payment of cash dividends subject to certain limitations. Our Board of Directors approves share repurchases of our common stock. Under these authorizations, we may, from time to time, purchase shares in the open market (including pre-arranged stock trading plans in accordance with the guidelines specified in Rule 10b5-1 under the Securities Exchange Act of 1934, as amended) or in privately negotiated transactions, subject to market and business conditions. Currently, we are operating under a $250 million share repurchase authorization approved by the Board of Directors in December 2019. During the three quarters ended September 28, 2022, we repurchased a total of 5.5 million shares of our common stock for approximately $57.1 million. This brings the total amount repurchased under the current authorization to approximately $89.7 million, leaving approximately $160.3 million that can be used to repurchase our common stock under this authorization as of September 28, 2022. Repurchased shares are included as treasury stock in our Consolidated Balance Sheets and our Consolidated Statements of Shareholders' Deficit. As of September 28, 2022, 7.5 million shares were held in treasury stock. Accumulated Other Comprehensive Loss, Net The components of the change in accumulated other comprehensive loss, net were as follows: Defined Benefit Plans Derivatives Accumulated Other Comprehensive Loss, Net (In thousands) Balance as of December 29, 2021 $ (900) $ (53,570) $ (54,470) Amortization of net loss (1) 92 — 92 Changes in the fair value of cash flow hedges — 12,965 12,965 Reclassification of cash flow hedges to interest expense, net (2) — 1,818 1,818 Amortization of unrealized losses related to dedesignated swaps to interest expense, net — 16 16 Income tax expense related to items of other comprehensive income (23) (3,701) (3,724) Balance as of September 28, 2022 $ (831) $ (42,472) $ (43,303) (1) Before-tax amount related to our defined benefit plans that was reclassified from accumulated other comprehensive loss, net and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Operations during the three quarters ended September 28, 2022. (2) Amounts reclassified from accumulated other comprehensive loss, net into interest expense, net in our Consolidated Statements of Operations represent payments either received from or made to the counterparty for the interest rate hedges. See Note 8 for additional details.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 28, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesLegal ProceedingsThere are various claims and pending legal actions against or indirectly involving us, incidental to and arising out of the ordinary course of the business. In the opinion of management, based upon information currently available, the ultimate liability with respect to these proceedings and claims will not materially affect our consolidated results of operations or financial position.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 28, 2022
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Quarters Ended September 28, 2022 September 29, 2021 (In thousands) Income taxes paid, net $ 6,161 $ 5,638 Interest paid $ 9,117 $ 11,189 Noncash investing and financing activities: Business acquisition payable $ 1,000 $ — Issuance of common stock, pursuant to share-based compensation plans $ 9,547 $ 3,087 Receipt of real estate receivable $ 3,000 $ — Execution of finance leases $ 506 $ 992 Treasury stock payable $ 292 $ 335 Accrued deferred financing costs $ — $ 36

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 28, 2022
Accounting Policies [Abstract]
Newly Adopted Accounting Standards and Accounting Standards to be Adopted	Newly Adopted Accounting Standards In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which was later clarified in January 2021 by ASU 2021-01, “Reference Rate Reform (Topic 848): Scope”. The guidance provides optional guidance, for a limited time, to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting. The Company adopted ASU 2020-04 on March 12, 2020. The adoption of and future elections under this new guidance did not and are not expected to have a material impact on the Company’s consolidated financial position or results of operations. The guidance is effective through December 31, 2022. Accounting Standards to be Adopted We reviewed all other newly issued accounting pronouncements and concluded that they are either not applicable to our business or are not expected to have a material effect on our consolidated financial statements as a result of future adoption.

Acquisition of Keke's Breakfa_2

Acquisition of Keke's Breakfast Cafe (Tables)	9 Months Ended
	Sep. 28, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Purchase Price Allocation	The components of the preliminary purchase price allocation were as follows: (In thousands) Gross cash consideration $ 81,500 Payable to seller (included in other current liabilities) 1,000 Total consideration paid 82,500 Assets: Property 2,015 Operating lease ROU assets 7,908 Franchise agreements 10,700 Trade name 35,600 Liabilities: Operating lease liabilities 7,908 Deferred franchise revenue 992 Other liabilities 36 Net assets acquired, excluding goodwill 47,287 Goodwill $ 35,213

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Sep. 28, 2022
Receivables [Abstract]
Schedule of Receivables, Net	Receivables consisted of the following: September 28, 2022 December 29, 2021 (In thousands) Receivables, net: Trade accounts receivable from franchisees $ 12,393 $ 13,430 Financing receivables from franchisees 9,296 1,027 Vendor receivables 1,637 4,041 Credit card receivables 596 747 Other 1,140 950 Allowance for doubtful accounts (549) (574) Total receivables, net $ 24,513 $ 19,621 Other noncurrent assets: Financing receivables from franchisees $ 6 $ 293

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	The following table reflects the changes in carrying amount of goodwill: (In thousands) Balance, December 29, 2021 $ 36,884 Addition related to the acquisition of Keke's 35,213 Addition related to the acquisition of a Denny's franchise unit 643 Balance, September 28, 2022 72,740
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consisted of the following: September 28, 2022 December 29, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names (1) $ 79,687 $ — $ 44,087 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 11,801 6,739 12,218 6,199 Franchise agreements (1) 10,700 104 — — Intangible assets, net $ 102,308 $ 6,843 $ 56,425 $ 6,199 (1) The increases in trade names and franchise agreements is a result of the Keke's acquisition. See Note 3 for details on the Keke's acquisition.
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following: September 28, 2022 December 29, 2021 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization (In thousands) Intangible assets with indefinite lives: Trade names (1) $ 79,687 $ — $ 44,087 $ — Liquor licenses 120 — 120 — Intangible assets with definite lives: Reacquired franchise rights 11,801 6,739 12,218 6,199 Franchise agreements (1) 10,700 104 — — Intangible assets, net $ 102,308 $ 6,843 $ 56,425 $ 6,199 (1) The increases in trade names and franchise agreements is a result of the Keke's acquisition. See Note 3 for details on the Keke's acquisition.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of September 28, 2022, estimated amortization expense for intangible assets with definite lives in the next five years is as follows: (In thousands) Remainder of 2022 $ 429 2023 1,536 2024 1,466 2025 1,410 2026 1,242

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 28, 2022
Other Liabilities, Current [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: September 28, 2022 December 29, 2021 (In thousands) Accrued payroll $ 17,348 $ 20,676 Current portion of liability for insurance claims 3,951 4,285 Accrued taxes 6,459 4,533 Accrued advertising 13,825 15,355 Gift cards 5,512 7,170 Accrued legal settlements 5,465 3,173 Other 10,208 8,954 Other current liabilities $ 62,768 $ 64,146

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 28, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Financial assets and liabilities measured at fair value on a recurring basis are summarized below: Total Quoted Prices in Active Markets for Identical Assets/Liabilities Significant Other Observable Inputs Significant Unobservable Inputs (In thousands ) Fair value measurements as of September 28, 2022: Deferred compensation plan investments (1) $ 10,445 $ 10,445 $ — $ — Interest rate swaps, net (2) 17,563 — 17,563 — Investments (3) 1,763 — 1,763 — Total $ 29,771 $ 10,445 $ 19,326 $ — Fair value measurements as of December 29, 2021: Deferred compensation plan investments (1) $ 13,726 $ 13,726 $ — $ — Interest rate swaps (2) (52,121) — (52,121) — Investments (3) 2,551 — 2,551 — Total $ (35,844) $ 13,726 $ (49,570) $ — (1) The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments and are included in other noncurrent assets in our Consolidated Balance Sheets. (2) The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models. The key inputs for the valuation models are quoted market prices, interest rates and forward yield curves. See Note 8 for details on the interest rate swaps. (3) The fair values of our investments are valued using a readily determinable net asset value per share based on the fair value of the underlying securities. There are no significant redemption restrictions associated with these investments.
Fair Value Measurements, Nonrecurring	Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: Significant Unobservable Inputs Impairment Charges (In thousands) Fair value measurements for the year-to-date period ended September 28, 2022: Assets held and used (1) $ 753 $ 963 (1) As of September 28, 2022, impaired assets were written down to their fair value. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly. There is uncertainty in the projected future cash flows used in the Company's impairment analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 28, 2022
Debt Disclosure [Abstract]
Schedule of Interest Rate Swaps	A summary of our interest rate swaps as of September 28, 2022 is as follows: Trade Date Effective Date Maturity Date Notional Amount Fair Value Fixed Rate (In thousands) Swaps designated as cash flow hedges March 20, 2015 March 29, 2018 March 31, 2025 $ 120,000 $ 4,748 2.44 % October 1, 2015 March 29, 2018 March 31, 2026 $ 50,000 $ 2,402 2.46 % Dedesignated swaps February 15, 2018 March 31, 2020 December 31, 2033 $ 120,000 (1) $ 10,413 3.19 % Total $ 290,000 $ 17,563 (1) The notional amounts of the swaps entered into on February 15, 2018 increase periodically until they reach the maximum notional amount of $425.0 million on September 28, 2029.

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 28, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates our revenue by sales channel and type of good or service: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Company restaurant sales $ 52,211 $ 46,470 $ 145,354 $ 127,611 Franchise and license revenue: Royalties 28,992 27,336 84,276 75,297 Advertising revenue 18,950 18,215 56,642 50,926 Initial and other fees 7,749 1,442 20,035 5,346 Occupancy revenue 9,554 10,331 29,273 31,355 Franchise and license revenue 65,245 57,324 190,226 162,924 Total operating revenue $ 117,456 $ 103,794 $ 335,580 $ 290,535
Schedule of Components of Lease Income	Franchise occupancy revenue consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Operating lease revenue $ 7,074 $ 7,594 $ 21,745 $ 23,175 Variable lease revenue 2,480 2,737 7,528 8,180 Total occupancy revenue $ 9,554 $ 10,331 $ 29,273 $ 31,355
Schedule of Components of the Change in Deferred Franchise Revenue	The components of the change in deferred franchise revenue are as follows: (In thousands) Balance, December 29, 2021 $ 19,896 Fees received from franchisees 2,853 Acquired deferred franchise revenue 992 Franchisee deferred costs (1) (3,845) Revenue recognized, net (2) (2,184) Balance, September 28, 2022 17,712 Less current portion included in other current liabilities 1,881 Deferred franchise revenue included in other noncurrent liabilities $ 15,831 (1) Deferred costs are contract assets consisting of incentives given to franchisees related to the rollout of kitchen equipment to all franchise locations. (2) Of this amount $1.9 million was included in the deferred franchise revenue balance as of December 29, 2021.

Operating (Gains), Losses and_2

Operating (Gains), Losses and Other Charges, Net (Tables)	9 Months Ended
	Sep. 28, 2022
Other Income and Expenses [Abstract]
Schedule of Operating Gains Losses and Other Charges, Net	Operating (gains), losses and other charges, net consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Gains on sales of assets and other, net $ (3,066) $ (93) $ (3,311) $ (1,100) Restructuring charges and exit costs 472 (122) 1,297 1,304 Impairment charges 697 — 963 — Operating (gains), losses and other charges, net $ (1,897) $ (215) $ (1,051) $ 204
Schedule of Restructuring Charges and Exit Costs	Restructuring charges and exit costs consisted of the following: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Exit costs $ 38 $ 101 $ 88 $ 324 Severance and other restructuring charges 434 (223) 1,209 980 Total restructuring charges and exit costs $ 472 $ (122) $ 1,297 $ 1,304

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 28, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Total Share-based Compensation	Total share-based compensation included as a component of general and administrative expenses was as follows: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands) Employee share awards $ 1,706 $ 3,127 $ 8,784 $ 9,544 Restricted stock units for board members 241 225 683 668 Total share-based compensation $ 1,947 $ 3,352 $ 9,467 $ 10,212

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 28, 2022
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income Per Share	The amounts used for the basic and diluted net income per share calculations are summarized below: Quarter Ended Three Quarters Ended September 28, 2022 September 29, 2021 September 28, 2022 September 29, 2021 (In thousands, except per share amounts) Net income $ 17,083 $ 12,265 $ 61,941 $ 34,618 Weighted average shares outstanding - basic 59,020 65,447 61,558 65,413 Effect of dilutive share-based compensation awards 20 382 128 401 Weighted average shares outstanding - diluted 59,040 65,829 61,686 65,814 Net income per share - basic $ 0.29 $ 0.19 $ 1.01 $ 0.53 Net income per share - diluted $ 0.29 $ 0.19 $ 1.00 $ 0.53 Anti-dilutive share-based compensation awards 641 365 737 445

Shareholders' Deficit (Tables)

Shareholders' Deficit (Tables)	9 Months Ended
	Sep. 28, 2022
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of the change in accumulated other comprehensive loss, net were as follows: Defined Benefit Plans Derivatives Accumulated Other Comprehensive Loss, Net (In thousands) Balance as of December 29, 2021 $ (900) $ (53,570) $ (54,470) Amortization of net loss (1) 92 — 92 Changes in the fair value of cash flow hedges — 12,965 12,965 Reclassification of cash flow hedges to interest expense, net (2) — 1,818 1,818 Amortization of unrealized losses related to dedesignated swaps to interest expense, net — 16 16 Income tax expense related to items of other comprehensive income (23) (3,701) (3,724) Balance as of September 28, 2022 $ (831) $ (42,472) $ (43,303) (1) Before-tax amount related to our defined benefit plans that was reclassified from accumulated other comprehensive loss, net and included as a component of pension expense within general and administrative expenses in our Consolidated Statements of Operations during the three quarters ended September 28, 2022. (2) Amounts reclassified from accumulated other comprehensive loss, net into interest expense, net in our Consolidated Statements of Operations represent payments either received from or made to the counterparty for the interest rate hedges. See Note 8 for additional details.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 28, 2022
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Three Quarters Ended September 28, 2022 September 29, 2021 (In thousands) Income taxes paid, net $ 6,161 $ 5,638 Interest paid $ 9,117 $ 11,189 Noncash investing and financing activities: Business acquisition payable $ 1,000 $ — Issuance of common stock, pursuant to share-based compensation plans $ 9,547 $ 3,087 Receipt of real estate receivable $ 3,000 $ — Execution of finance leases $ 506 $ 992 Treasury stock payable $ 292 $ 335 Accrued deferred financing costs $ — $ 36

Introduction and Basis of Pre_2

Introduction and Basis of Presentation (Details)	Sep. 28, 2022 restaurant
Franchisor Disclosure [Line Items]
Number of restaurants	1,666
Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,613
Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	53
Franchised/licensed Restaurants
Franchisor Disclosure [Line Items]
Number of restaurants	1,592
Franchised/licensed Restaurants | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	1,547
Franchised/licensed Restaurants | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	45
Company Restaurants
Franchisor Disclosure [Line Items]
Number of restaurants	74
Company Restaurants | Denny's Brand
Franchisor Disclosure [Line Items]
Number of restaurants	66
Company Restaurants | Keke's
Franchisor Disclosure [Line Items]
Number of restaurants	8

Acquisition of Keke's Breakfa_3

Acquisition of Keke's Breakfast Cafe - Narrative (Details) $ in Thousands		9 Months Ended
	Jul. 20, 2022 USD ($) restaurant	Sep. 28, 2022 USD ($) restaurant	Sep. 29, 2021 USD ($)
Business Acquisition [Line Items]
Number of restaurants | restaurant		1,666
Acquisition of Keke's Breakfast Cafe		$ 81,500	$ 0
Company Restaurants
Business Acquisition [Line Items]
Number of restaurants | restaurant		74
Keke's
Business Acquisition [Line Items]
Total purchase price	$ 82,500
Acquisition of Keke's Breakfast Cafe	81,500
Contingent consideration liability, to be paid as post closing adjustments	$ 1,000
Acquisition, transaction costs		$ 600
Keke's | Franchise agreements
Business Acquisition [Line Items]
Weighted average useful life	14 years 10 months 24 days
Keke's | Franchised Location
Business Acquisition [Line Items]
Number of restaurants | restaurant	44
Keke's | Company Restaurants
Business Acquisition [Line Items]
Number of restaurants | restaurant	8

Acquisition of Keke's Breakfa_4

Acquisition of Keke's Breakfast Cafe - Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands		9 Months Ended
	Jul. 20, 2022	Sep. 28, 2022	Sep. 29, 2021	Dec. 29, 2021
Business Acquisition [Line Items]
Gross cash consideration		$ 81,500	$ 0
Liabilities:
Goodwill		$ 72,740		$ 36,884
Keke's
Business Acquisition [Line Items]
Gross cash consideration	$ 81,500
Payable to seller (included in other current liabilities)	1,000
Total consideration paid	82,500
Assets:
Property	2,015
Operating lease ROU assets	7,908
Liabilities:
Operating lease liabilities	7,908
Deferred franchise revenue	992
Other liabilities	36
Net assets acquired, excluding goodwill	47,287
Goodwill	35,213
Keke's | Trade name
Assets:
Purchase price allocated to intangible assets	35,600
Keke's | Franchise agreements
Assets:
Purchase price allocated to intangible assets	$ 10,700

Receivables - Receivables, Net

Receivables - Receivables, Net (Details) - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Receivables, net:
Trade accounts receivable from franchisees	$ 12,393	$ 13,430
Financing receivables from franchisees	9,296	1,027
Allowance for doubtful accounts	(549)	(574)
Receivables, net	24,513	19,621
Other noncurrent assets:
Financing receivables from franchisees	6	293
Vendor receivables
Receivables, net:
Other receivables, gross, current	1,637	4,041
Credit card receivables
Receivables, net:
Other receivables, gross, current	596	747
Other
Receivables, net:
Other receivables, gross, current	$ 1,140	$ 950

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 28, 2022 USD ($)
Goodwill [Roll Forward]
Balance, beginning of period	$ 36,884
Balance, ending of period	72,740
Keke's
Goodwill [Roll Forward]
Addition related to the acquisition	35,213
Franchise Unit
Goodwill [Roll Forward]
Addition related to the acquisition	$ 643

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Finite-Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Intangible Assets
Trade names	$ 79,687	$ 44,087
Liquor licenses	120	120
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	6,843	6,199
Intangible assets, net	102,308	56,425
Reacquired franchise rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,801	12,218
Accumulated Amortization	6,739	6,199
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,700	0
Accumulated Amortization	$ 104	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 0.4	$ 0.3	$ 1.1	$ 1

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Sep. 28, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 429
2023	1,536
2024	1,466
2025	1,410
2026	$ 1,242

Other Current Liabilities - Oth

Other Current Liabilities - Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Other Liabilities, Current [Abstract]
Accrued payroll	$ 17,348	$ 20,676
Current portion of liability for insurance claims	3,951	4,285
Accrued taxes	6,459	4,533
Accrued advertising	13,825	15,355
Gift cards	5,512	7,170
Accrued legal settlements	5,465	3,173
Other	10,208	8,954
Other current liabilities	$ 62,768	$ 64,146

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Assets and Liabilities on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Sep. 28, 2022	Dec. 29, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	$ 10,445	$ 13,726
Interest rate swaps, net	17,563
Interest rate swaps		(52,121)
Investments	1,763	2,551
Total	29,771
Total		(35,844)
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	10,445	13,726
Interest rate swaps, net	0
Interest rate swaps		0
Investments	0	0
Total	10,445	13,726
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	0	0
Interest rate swaps, net	17,563
Interest rate swaps		(52,121)
Investments	1,763	2,551
Total	19,326
Total		(49,570)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan investments	0	0
Interest rate swaps, net	0
Interest rate swaps		0
Investments	0	0
Total	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets and Liabilities on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges	$ 697	$ 0	$ 963	$ 0
Fair Value, Nonrecurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held and used	$ 753		$ 753

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021	Jun. 29, 2022	Dec. 29, 2021	Jun. 30, 2021	Dec. 30, 2020
Line of Credit Facility [Line Items]
Unrealized losses remained in accumulated other comprehensive loss, net	$ 44,630,000	$ 89,637,000	$ 44,630,000	$ 89,637,000	$ 58,708,000	$ 65,265,000	$ 99,423,000	$ 130,446,000
Derivatives
Line of Credit Facility [Line Items]
Reclassification (less than)			16,000
Derivatives
Line of Credit Facility [Line Items]
Reclassification (less than)			1,818,000
Unrealized losses remained in accumulated other comprehensive loss, net	42,472,000		42,472,000			$ 53,570,000
Effective Interest Rate Swaps
Line of Credit Facility [Line Items]
Cash flow hedge, asset value	7,100,000		7,100,000
Expected reclassification within next twelve months			1,100,000
Dedesignated Interest Rate Swaps
Line of Credit Facility [Line Items]
Interest rate swaps, net	10,400,000		10,400,000
Dedesignated Interest Rate Swaps | Other Nonoperating Income (Expense)
Line of Credit Facility [Line Items]
Unrealized gain on derivatives	10,800,000	$ 2,300,000	52,700,000	14,900,000
Dedesignated Interest Rate Swaps | Derivatives
Line of Credit Facility [Line Items]
Reclassification (less than)	100,000		100,000	$ 200,000
Dedesignated Interest Rate Swaps | Derivatives
Line of Credit Facility [Line Items]
Unrealized losses remained in accumulated other comprehensive loss, net	64,200,000		64,200,000
Dedesignated Interest Rate Swaps | Derivatives
Line of Credit Facility [Line Items]
Expected reclassification within next twelve months			$ 200,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, term			5 years
Line of credit facility, current borrowing capacity	400,000,000		$ 400,000,000
Line of credit facility, borrowing capacity, accordion feature	450,000,000		450,000,000
Outstanding amount under credit facility	266,500,000		266,500,000
Availability under the credit facility	$ 121,200,000		$ 121,200,000
Commitment fee, percent			0.25%
Weighted-average interest rate	4.45%		4.45%			2.09%
Revolving Credit Facility | Interest Rate Swap
Line of Credit Facility [Line Items]
Weighted-average interest rate	4.40%		4.40%			4.44%
Revolving Credit Facility | Libor
Line of Credit Facility [Line Items]
Basis spread on variable rate debt (as a percent)			1.75%
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity	$ 25,000,000		$ 25,000,000
Outstanding amount of letters of credit	$ 12,300,000		$ 12,300,000

Long-Term Debt - Interest Rate

Long-Term Debt - Interest Rate Swaps (Details)	Sep. 28, 2022 USD ($)
Derivative [Line Items]
Notional Amount	$ 290,000,000
Fair Value	17,563,000
Interest Rate Swap 2018-2025
Derivative [Line Items]
Notional Amount	120,000,000
Fair Value	$ 4,748,000
Fixed Rate	2.44%
Interest Rate Swap 2018-2026
Derivative [Line Items]
Notional Amount	$ 50,000,000
Fair Value	$ 2,402,000
Fixed Rate	2.46%
Interest Rate Swap 2020-2033
Derivative [Line Items]
Notional Amount	$ 120,000,000
Fair Value	$ 10,413,000
Fixed Rate	3.19%
Interest Rate Swap 2020-2033 | Maximum
Derivative [Line Items]
Notional Amount	$ 425,000,000

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenues (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022 USD ($)	Sep. 29, 2021 USD ($)	Sep. 28, 2022 USD ($) channel	Sep. 29, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Number of sales channels | channel			2
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 117,456	$ 103,794	$ 335,580	$ 290,535
Company restaurant sales
Disaggregation of Revenue [Line Items]
Total operating revenue	52,211	46,470	145,354	127,611
Royalties
Disaggregation of Revenue [Line Items]
Total operating revenue	28,992	27,336	84,276	75,297
Advertising revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	18,950	18,215	56,642	50,926
Initial and other fees
Disaggregation of Revenue [Line Items]
Total operating revenue	7,749	1,442	20,035	5,346
Occupancy revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	9,554	10,331	29,273	31,355
Franchise and license revenue
Disaggregation of Revenue [Line Items]
Total operating revenue	$ 65,245	$ 57,324	$ 190,226	$ 162,924

Revenues - Components of Lease

Revenues - Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Revenue from Contract with Customer [Abstract]
Operating lease revenue	$ 7,074	$ 7,594	$ 21,745	$ 23,175
Variable lease revenue	2,480	2,737	7,528	8,180
Total occupancy revenue	$ 9,554	$ 10,331	$ 29,273	$ 31,355

Revenues - Components of the Ch

Revenues - Components of the Change in Deferred Franchise Revenue (Details) $ in Thousands	9 Months Ended
	Sep. 28, 2022 USD ($)
Movement In Deferred Revenue Roll Forward
Balance, December 29, 2021	$ 19,896
Fees received from franchisees	2,853
Acquired deferred franchise revenue	992
Franchisee deferred costs	(3,845)
Revenue recognized, net	(2,184)
Balance, September 28, 2022	17,712
Less current portion included in other current liabilities	1,881
Deferred franchise revenue included in other noncurrent liabilities	15,831
Deferred revenue recognized	$ 1,900

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021	Dec. 29, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognized	$ 117,456	$ 103,794	$ 335,580	$ 290,535
Receivables, net	24,513		24,513		$ 19,621
Liability balance	1,881		1,881
Deferred revenue recognized			1,900
Gift Card Redemption
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Liability balance	5,500		5,500		7,200
Deferred revenue recognized			400
Kitchen Equipment Rollout For Franchise Restaurants
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount committed by the company	5,400		5,400
Contract assets	3,900		3,900
Revenue recognized	5,600		13,500
Inventory related to kitchen equipment rollout	7,600		7,600		3,700
Receivables, net	$ 8,600		$ 8,600		$ 400

Operating (Gains), Losses and_3

Operating (Gains), Losses and Other Charges, Net - Operating Gains Losses and Other Charges, Net and Restructuring Charges and Exit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Other Income and Expenses [Abstract]
Gains on sales of assets and other, net	$ (3,066)	$ (93)	$ (3,311)	$ (1,100)
Restructuring charges and exit costs	472	(122)	1,297	1,304
Impairment charges	697	0	963	0
Operating (gains), losses and other charges, net	(1,897)	(215)	(1,051)	204
Restructuring Charges [Abstract]
Exit costs	38	101	88	324
Severance and other restructuring charges	434	(223)	1,209	980
Total restructuring charges and exit costs	$ 472	$ (122)	$ 1,297	$ 1,304

Operating (Gains), Losses and_4

Operating (Gains), Losses and Other Charges, Net - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 28, 2022 USD ($) real_estate	Sep. 29, 2021 USD ($)	Sep. 28, 2022 USD ($) real_estate	Sep. 29, 2021 USD ($)	Dec. 29, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Severance and other restructuring charges	$ 900,000		$ 900,000		$ 100,000
Impairment charges	697,000	$ 0	963,000	$ 0
Property impairment	400,000		600,000
Operating lease right-of-use asset impairment	300,000		300,000
Finance lease right-of-use asset impairment			100,000
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Carrying amount	1,100,000		1,100,000		$ 0
Property	900,000		900,000
Other assets	$ 200,000		$ 200,000
Number of real estate properties | real_estate	3		3

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 1,947	$ 3,352	$ 9,467	$ 10,212
Employee share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	1,706	3,127	8,784	9,544
Restricted stock units for board members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ 241	$ 225	$ 683	$ 668

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 28, 2022 USD ($) installment $ / shares shares	Jun. 29, 2022 $ / shares shares	Mar. 30, 2022 $ / shares shares	Sep. 28, 2022 USD ($) installment $ / shares shares
Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 11.5			$ 11.5
Unrecognized contractual term				1 year 10 months 24 days
PSUs, TSR | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	78,000	78,000	233,000
Fair value of units granted (in dollars per share) | $ / shares	$ 12.18	$ 12.18	$ 24.51
PSUs, Adjusted EPS | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	78,000	78,000	233,000
Fair value of units granted (in dollars per share) | $ / shares	$ 9.93	$ 9.93	$ 15.59
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, straight-line basis			312,000
Compensation cost, graded-vesting basis			154,000
Performance Shares | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of performance			3 years
Performance Shares | Employee Share Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement			0%
Performance Shares | Employee Share Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target achievement			200%
Restricted Stock Units | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	104,000	104,000	310,000
Fair value of units granted (in dollars per share) | $ / shares	$ 9.93	$ 9.93	$ 15.59
Period of performance			3 years
Restricted Stock Units | Board Members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in periods (in shares)	100,000			100,000
Fair value of units granted (in dollars per share) | $ / shares	$ 9.93			$ 9.93
Period of performance	1 year			1 year
Common stock, shares issued (in shares)	100,000			100,000
Unrecognized compensation cost | $	$ 0.6			$ 0.6
Unrecognized contractual term				7 months 6 days
Number of equal annual installments | installment	3			3
PSUs and RSUs | Certain Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued (in shares)				768,000
Deferred common stock (in shares)	24,000			24,000
Shares paid for tax withholding (in shares)				407,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Income Tax Disclosure [Abstract]
Effective tax rate expense (benefit), percent	24.30%	25%	25.70%	24.10%

Net Income Per Share - Basic an

Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021
Earnings Per Share [Abstract]
Net income	$ 17,083	$ 12,265	$ 61,941	$ 34,618
Weighted average shares outstanding - basic (in shares)	59,020	65,447	61,558	65,413
Effect of dilutive share-based compensation awards (in shares)	20	382	128	401
Weighted average shares outstanding - diluted (in shares)	59,040	65,829	61,686	65,814
Net income per share - basic (in dollars per share)	$ 0.29	$ 0.19	$ 1.01	$ 0.53
Net income per share - diluted (in dollars per share)	$ 0.29	$ 0.19	$ 1	$ 0.53
Anti-dilutive share-based compensation awards (in shares)	641	365	737	445

Shareholders' Deficit - Narrati

Shareholders' Deficit - Narrative (Details) - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021	Sep. 28, 2022	Sep. 29, 2021	Dec. 25, 2019
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury stock (in shares)			5.5
Purchase of treasury stock	$ 7,870,000	$ 6,563,000	$ 57,119,000	$ 6,563,000
Treasury stock, at cost, shares (in shares)	7.5		7.5
Share Repurchase Program 2019
Equity, Class of Treasury Stock [Line Items]
Share repurchase, authorized amount					$ 250,000,000
Purchase of treasury stock			$ 89,700,000
Remaining shares to be repurchased	$ 160,300,000		$ 160,300,000

Shareholders' Deficit - Compone

Shareholders' Deficit - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2022	Sep. 28, 2022	Sep. 29, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	$ (58,708)	$ (65,265)	$ (130,446)
Income tax expense related to items of other comprehensive income		(3,724)
Balance as of end of period	(44,630)	(44,630)	(89,637)
Defined Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period		(900)
Reclassification		92
Income tax expense related to items of other comprehensive income		(23)
Balance as of end of period	(831)	(831)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period		(53,570)
Reclassification		1,818
Changes in the fair value of cash flow hedges		12,965
Income tax expense related to items of other comprehensive income		(3,701)
Balance as of end of period	(42,472)	(42,472)
Amortization of net loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification		16
Accumulated Other Comprehensive Loss, Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of beginning of period	(46,281)	(54,470)	(60,405)
Balance as of end of period	$ (43,303)	$ (43,303)	$ (56,256)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2022	Sep. 29, 2021
Supplemental Cash Flow Information [Abstract]
Income taxes paid, net	$ 6,161	$ 5,638
Interest paid	9,117	11,189
Noncash investing and financing activities:
Business acquisition payable	1,000	0
Issuance of common stock, pursuant to share-based compensation plans	9,547	3,087
Receipt of real estate receivable	3,000	0
Execution of finance leases	506	992
Treasury stock payable	292	335
Accrued deferred financing costs	$ 0	$ 36