The Cheesecake Factory Incorporated (CAKE) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2016	Jul. 27, 2016
Document and Entity Information
Entity Registrant Name	CHEESECAKE FACTORY INC
Entity Central Index Key	887,596
Document Type	10-Q
Document Period End Date	Jun. 28, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-27
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,079,544
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2016	Dec. 29, 2015
Current assets:
Cash and cash equivalents	$ 79,618	$ 43,854
Accounts receivable	14,468	14,159
Income taxes receivable	4,341	18,739
Other receivables	27,150	72,658
Inventories	34,571	34,010
Prepaid expenses	37,824	41,976
Total current assets	197,972	225,396
Property and equipment, net	888,849	892,191
Other assets:
Intangible assets, net	22,597	21,972
Prepaid rent	44,386	46,881
Other	50,514	46,906
Total other assets	117,497	115,759
Total assets	1,204,318	1,233,346
Current liabilities:
Accounts payable	38,573	47,770
Other accrued expenses	265,851	302,456
Total current liabilities	304,424	350,226
Deferred income taxes	83,737	82,524
Deferred rent	72,255	72,911
Deemed landlord financing liability	91,973	87,841
Other noncurrent liabilities	55,087	51,305
Commitments and contingencies (Note 4)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued
Common stock, $.01 par value, 250,000,000 shares authorized; 93,901,866 and 93,126,667 issued at June 28, 2016 and December 29, 2015, respectively	939	931
Additional paid-in capital	742,041	710,242
Retained earnings	1,193,914	1,140,788
Treasury stock, 45,622,532 and 44,064,322 shares at cost at June 28, 2016 and December 29, 2015, respectively	(1,340,052)	(1,263,422)
Total stockholders' equity	596,842	588,539
Total liabilities and stockholders' equity	$ 1,204,318	$ 1,233,346

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 28, 2016	Dec. 29, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	93,901,866	93,126,667
Treasury stock, shares	45,622,532	44,064,322

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Revenues	$ 558,862	$ 529,107	$ 1,112,555	$ 1,047,080
Costs and expenses:
Cost of sales	126,933	126,623	257,706	253,235
Labor expenses	185,211	168,495	370,869	339,664
Other operating costs and expenses	131,980	123,675	261,537	247,110
General and administrative expenses	35,785	35,345	71,122	68,420
Depreciation and amortization expenses	21,461	21,158	42,925	42,335
Preopening costs	2,302	4,058	4,612	5,509
Total costs and expenses	503,672	479,354	1,008,771	956,273
Income from operations	55,190	49,753	103,784	90,807
Interest and other expense, net	(2,181)	(1,432)	(4,485)	(3,327)
Income before income taxes	53,009	48,321	99,299	87,480
Income tax provision	14,424	13,597	26,760	24,333
Net income	$ 38,585	$ 34,724	$ 72,539	$ 63,147
Net income per share:
Basic (in dollars per share)	$ 0.80	$ 0.72	$ 1.50	$ 1.29
Diluted (in dollars per share)	$ 0.78	$ 0.69	$ 1.46	$ 1.25
Weighted average shares outstanding:
Basic (in shares)	48,232	48,451	48,375	48,838
Diluted (in shares)	49,598	50,262	49,814	50,681
Cash dividends declared per common share (in dollars per share)	$ 0.20	$ 0.165	$ 0.40	$ 0.33

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 6 months ended Jun. 28, 2016 - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Total
Balance at Dec. 29, 2015	$ 931	$ 710,242	$ 1,140,788	$ (1,263,422)	$ 588,539
Balance (in shares) at Dec. 29, 2015	93,127
Increase (Decrease) in Stockholders' Equity
Net income			72,539		72,539
Cash dividends declared			(19,413)		(19,413)
Tax impact of stock options exercised, net of cancellations		6,559			6,559
Stock-based compensation		11,453			11,453
Common stock issued under stock-based compensation plans	$ 8	13,787			13,795
Common stock issued under stock-based compensation plans (in shares)	775
Treasury stock purchases				(76,630)	(76,630)
Balance at Jun. 28, 2016	$ 939	$ 742,041	$ 1,193,914	$ (1,340,052)	$ 596,842
Balance (in shares) at Jun. 28, 2016	93,902

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 72,539	$ 63,147
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization expenses	42,925	42,335
Deferred income taxes	1,213	1,146
Stock-based compensation	11,304	9,677
Tax impact of stock options exercised, net of cancellations	6,559	7,838
Excess tax benefit related to stock options exercised	(6,635)	(7,826)
Other	1,342	1,346
Changes in assets and liabilities:
Accounts receivable	(309)	6,359
Other receivables	45,508	28,914
Inventories	(561)	(3,211)
Prepaid expenses	4,152	(8,389)
Other assets	(1,071)	(6,010)
Accounts payable	(5,992)	(8,562)
Income taxes receivable/payable	14,398	11,466
Other accrued expenses	(33,586)	(17,264)
Cash provided by operating activities	151,786	120,966
Cash flows from investing activities:
Additions to property and equipment	(40,208)	(59,473)
Additions to intangible assets	(924)	(948)
Cash used in investing activities	(41,132)	(60,421)
Cash flows from financing activities:
Deemed landlord financing proceeds	2,673
Deemed landlord financing payments	(1,780)	(1,497)
Borrowings on credit facility		25,000
Proceeds from exercise of stock options	13,795	16,892
Excess tax benefit related to stock options exercised	6,635	7,826
Cash dividends paid	(19,583)	(16,438)
Treasury stock purchases	(76,630)	(84,197)
Payment for future treasury stock purchases under accelerated stock repurchase agreement		(4,601)
Cash used in financing activities	(74,890)	(57,015)
Net change in cash and cash equivalents	35,764	3,530
Cash and cash equivalents at beginning of period	43,854	58,018
Cash and cash equivalents at end of period	79,618	61,548
Supplemental disclosures:
Interest paid	3,055	2,988
Income taxes paid, net of refunds	5,034	3,850
Construction payable	$ 10,294	$ 13,531

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 28, 2016
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies The accompanying condensed consolidated financial statements include the accounts of The Cheesecake Factory Incorporated and its wholly owned subsidiaries (referred to herein collectively as the “Company,” “we,” “us” and “our”) prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The unaudited financial statements presented herein include all material adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for the fair statement of the financial condition, results of operations and cash flows for the period. However, these results are not necessarily indicative of results for any other interim period or for the full fiscal year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules of the Securities and Exchange Commission (“SEC”). The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 29, 2015 filed with the SEC on February 25, 2016. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions for the reporting periods covered by the financial statements. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent liabilities. Actual results could differ from these estimates. We utilize a 52/53-week fiscal year ending on the Tuesday closest to December 31 for financial reporting purposes. Fiscal year 2016 consists of 53 weeks and will end on January 3, 2017. Fiscal 2015, which ended on December 29, 2015, was a 52-week year. Impairment of Long-Lived Assets and Lease Terminations We assess the potential impairment of our long-lived assets whenever events or changes in circumstances indicate the carrying value of the assets or asset group may not be recoverable. Factors considered include, but are not limited to, significant underperformance relative to historical or projected future operating results, significant changes in the manner in which an asset is being used, an expectation that an asset will be disposed of significantly before the end of its previously estimated useful life and significant negative industry or economic trends. We regularly review restaurants that are cash flow negative for the previous four quarters and those that are being considered for closure or relocation to determine if impairment testing is warranted. At any given time, we may be monitoring a small number of locations, and future impairment charges could be required if individual restaurant performance does not improve. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance affecting all entities that issue share-based payment awards to their employees. This update covers such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. This update is effective for annual and interim periods beginning after December 15, 2016, which will require us to adopt these provisions in the first quarter of fiscal 2017. This guidance will be applied either prospectively, retrospectively or using a modified retrospective transition method, depending on the area covered in this update. Early adoption is permitted. We have not yet selected a transition date nor have we determined the effect of the standard on our condensed consolidated financial statements. In February 2016, the FASB issued guidance that requires a lessee to recognize on the balance sheet a liability to make lease payments and a corresponding right-of-use asset. The standard also requires certain qualitative and quantitative disclosures about the amount, timing and uncertainty of cash flows arising from leases. This update is effective for annual and interim periods beginning after December 15, 2018, which will require us to adopt these provisions in the first quarter of fiscal 2019 using a modified retrospective approach. Early adoption is permitted. We have not yet selected a transition date nor have we determined the effect of the standard on our condensed consolidated financial statements. In July 2015, the FASB issued guidance that requires inventory within the scope of the standard to be measured at the lower of cost or net realizable value. Previous guidance required inventory to be measured at the lower of cost or market (where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin). The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We expect the adoption of this guidance to have no material impact on our condensed consolidated financial statements. In April 2015, the FASB issued guidance regarding a customer’s accounting for fees paid in a cloud computing arrangement. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In April 2015, the FASB issued updated guidance intended to simplify, and provide consistency to, the presentation of debt issuance costs. The new standard requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. In August 2015, the FASB provided additional guidance for presentation of debt issuance costs related to line-of-credit arrangements. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In February 2015, the FASB issued updated guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In June 2014, the FASB issued updated guidance intended to eliminate the diversity in practice regarding share-based payment awards that include terms which provide for a performance target that affects vesting being achieved after the requisite service period. The new standard requires that a performance target which affects vesting and could be achieved after the requisite service period be treated as a performance condition that affects vesting and should not be reflected in estimating the grant-date fair value. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In May 2014, the FASB issued accounting guidance that provides a comprehensive new revenue recognition model that will supersede most of the existing revenue recognition requirements and require entities to recognize revenue at an amount that reflects the consideration to which a company expects to be entitled in exchange for transferring goods or services to a customer. In August 2015, the FASB deferred the effective date of this standard by one year with early adoption permitted no earlier than the original effective date. The guidance is now effective for us beginning in the first quarter of fiscal 2018. In March and April 2016, the FASB provided additional guidance related to implementation. This standard is not expected to have a material impact on our condensed consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 28, 2016
Inventories
Inventories	2. Inventories Inventories consisted of (in thousands): June 28, 2016 December 29, 2015 Restaurant food and supplies $ $ Bakery finished goods and work in progress Bakery raw materials and supplies Total $ $

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 28, 2016
Long-Term Debt
Long-Term Debt	3. Long-Term Debt On December 22, 2015, we entered into a new loan agreement (“Facility”) which amended and restated in its entirety our prior loan agreement dated October 16, 2013. This Facility, which matures on December 22, 2020, provides us with revolving loan commitments totaling $200 million, of which $50 million may be used for issuances of letters of credit. Availability under the Facility is reduced by outstanding letters of credit, which are used to support our self-insurance programs. The Facility contains a commitment increase feature that could provide for an additional $100 million in available credit upon our request and subject to the lenders electing to increase their commitments or by means of the addition of new lenders. Our obligations under the Facility are unsecured. Certain of our material subsidiaries have guaranteed our obligations under the Facility. At June 28, 2016, we had net availability for borrowings of $178.2 million, based on a zero outstanding debt balance and $21.8 million in standby letters of credit. We did not withdraw or repay any amounts under this Facility during the first half of fiscal 2016. We are subject to certain financial covenants under the Facility requiring us to maintain (i) a maximum “Net Adjusted Leverage Ratio” of 4.0, comprised of debt plus eight times rent minus unrestricted cash and cash equivalents in excess of $25 million divided by “EBITDAR” (trailing 12-month earnings before interest, taxes, depreciation, amortization, noncash stock option expense, rent and permitted acquisition costs) and (ii) a trailing 12-month minimum EBITDAR to interest and rental expense ratio (“EBITDAR Ratio”) of 1.9. Our Net Adjusted Leverage and EBITDAR Ratios were 2.4 and 3.0, respectively, at June 28, 2016, and we were in compliance with the financial covenants in effect at that date. The Facility also limits cash distributions with respect to our equity interests, such as cash dividends and share repurchases, based on the Net Adjusted Leverage Ratio. Borrowings under the Facility bear interest, at our option, at a rate equal to either (i) the Adjusted LIBO Rate plus a margin ranging from 1.00% to 1.75% based on our Net Adjusted Leverage Ratio or (ii) the sum of (a) the highest of (1) the rate of interest publicly announced by JP Morgan Chase Bank as its prime rate in effect, (2) the greater of the Federal Funds Effective Rate or the Overnight Bank Funding Rate, in either case plus 0.5%, and (3) the one-month Adjusted LIBO Rate plus 1.0%, plus (b) a margin ranging from 0.00% to 0.75% based on our Net Adjusted Leverage Ratio. Under the Facility, we paid certain customary loan origination fees and will pay a fee on the unused portion of the Facility ranging from 0.125% to 0.25% also based on our Net Adjusted Leverage Ratio.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2016
Commitments and Contingencies
Commitments and Contingencies	4. Commitments and Contingencies On April 11, 2013, a former restaurant hourly employee filed a class action lawsuit in the California Superior Court, Placer County, alleging that the Company violated the California Labor Code and California Business and Professions Code, by requiring employees to purchase uniforms for work (Sikora v. The Cheesecake Factory Restaurants, Inc., et al; Case No SCV0032820). A similar lawsuit covering a different time period was also filed in Placer County (Reed v. The Cheesecake Factory Restaurants, Inc. et al; Case No. SCV27073). By stipulation the parties agreed to transfer the Reed and Sikora cases to Los Angeles County. Both cases were subsequently coordinated together in Los Angeles County by order of the Judicial Council. On November 15, 2013, the Company filed a motion to enforce judgment and to preclude the prosecution of certain claims under the California Private Attorney General Act (“PAGA”) and California Business and Professions Code Section 17200. On March 11, 2015, the court granted the Company’s motion in Case No. SCV0032820. The parties participated in voluntary mediation on June 25, 2015 and have executed a memorandum of understanding with respect to the terms of settlement, which is subject to court approval and is intended to be a full and final resolution of the actions. On January 29, 2016, the court granted the parties’ Motion for Preliminary Approval of Class Action Settlement for Case Nos. SCV0032820 and SCV27073. On June 10, 2016, the court entered the order and judgment granting final approval of the class action settlement. Based on the current status of this matter, we have reserved an immaterial amount in anticipation of settlement. On November 26, 2014, a former restaurant hourly employee filed a class action lawsuit in the San Diego County Superior Court, alleging that the Company violated the California Labor Code and California Business and Professions Code, by failing to pay overtime, to permit required rest breaks and to provide accurate wage statements, among other claims (Masters v. The Cheesecake Factory Restaurants, Inc., et al; Case No 37-2014-00040278). By stipulation, the parties agreed to transfer Case No. 37-2014-00040278 to the Orange County Superior Court. On March 2, 2015, Case No. 37-2014-00040278 was officially transferred and assigned a new Case No. 30-2015-00775529 in the Orange County Superior Court. On June 27, 2016, we gave notice to the court that Case Nos. CIV1504091 and BC603620 described below may be related. The lawsuit seeks unspecified amounts of fees, penalties and other monetary payments on behalf of the Plaintiff and other purported class members. We intend to vigorously defend this action. Based on the current status of this matter, we have not reserved for any potential future payments. On May 28, 2015, a group of current and former restaurant hourly employees filed a class action lawsuit in the U.S. District Court for the Eastern District of New York, alleging that the Company violated the Fair Labor Standards Act and New York Labor Code, by requiring employees to purchase uniforms for work and violated the State of New York’s minimum wage and overtime provisions (Guglielmo v. The Cheesecake Factory Restaurants, Inc., et al; Case No 2:15-CV-03117). On September 8, 2015, the Company filed its response to the complaint, requesting the court to compel arbitration against opt-in plaintiffs with valid arbitration agreements. On July 21, 2016, the court issued an order confirming the agreement of the parties to dismiss all class claims with prejudice and to allow the case to proceed as a collective action at a limited number of the Company’s restaurants in the State of New York. The plaintiffs are seeking unspecified amounts of penalties and other monetary payments. We intend to vigorously defend this action. Based upon the current status of this matter, we have not reserved for any potential future payments. On November 10, 2015, a current restaurant hourly employee filed a class action lawsuit in the Marin County Superior Court alleging that the Company failed to provide complete and accurate wage statements as set forth in the California Labor Code. On January 26, 2016, the plaintiff filed a First Amended Complaint. The lawsuit seeks unspecified penalties under PAGA in addition to other monetary payments (Brown v. The Cheesecake Factory Restaurants, Inc.; Case No. CIV1504091). On April 18, 2016, the court granted our motion to compel individual arbitration of plaintiff’s wage statement claim and stayed the PAGA claim until completion of the individual arbitration. On June 28, 2016, we gave notice to the court that Case Nos. 30-2015-00775529 and BC603620 may be related. We intend to vigorously defend against this action. Based upon the current status of this matter, we have not reserved for any potential future payments. On December 10, 2015, a former restaurant management employee filed a class action lawsuit in the Los Angeles County Superior Court alleging that the Company improperly classified its managerial employees, failed to pay overtime, and failed to provide accurate wage statements, in addition to other claims. The lawsuit seeks unspecified penalties under PAGA in addition to other monetary payments (Tagalogon v. The Cheesecake Factory Restaurants, Inc., Case No. BC603620). On March 23, 2016, the parties issued their joint status conference statement at which time we gave notice to the court that Case Nos. 30-2015-00775529 and CIV1504091 may be related. On April 29, 2016, the Company filed its response to the complaint. We intend to vigorously defend against this action. Based upon the current status of this matter, we have not reserved for any potential future payments. On April 24, 2016, a class action lawsuit was filed in the United States District Court for the Eastern District of New York alleging that the Company violated the New York deceptive business practices statute by improperly calculating suggested gratuities on split payment checks. The lawsuit seeks unspecified penalties in addition to other monetary payments. On June 8, 2016, the Company informed the court that it intends to file a motion to dismiss the complaint. We intend to vigorously defend against this action. Based upon the current status of this matter, we have not reserved for any potential future payments. Within the ordinary course of our business, we are subject to private lawsuits, government audits, administrative proceedings and other claims. These matters typically involve claims from customers, staff members and others related to operational and employment issues common to the foodservice industry. A number of these claims may exist at any given time, and some of the claims may be pled as class actions. From time to time, we are also involved in lawsuits with respect to infringements of, or challenges to, our registered trademarks and other intellectual property, both domestically and abroad. We could be affected by adverse publicity and litigation costs resulting from such allegations, regardless of whether they are valid or whether we are legally determined to be liable. At this time, we believe that the final disposition of any pending lawsuits, audits, proceedings and claims will not have a material adverse effect individually or in the aggregate on our financial position, results of operations or liquidity. It is possible, however, that our future results of operations for a particular quarter or fiscal year could be impacted by changes in circumstances relating to lawsuits, audits, proceedings or claims.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 28, 2016
Stockholders' Equity
Stockholders' Equity	5. Stockholders’ Equity On April 21, 2016, our Board of Directors (“Board”) declared a quarterly cash dividend of $0.20 per share that was paid on May 24, 2016 to the stockholders of record at the close of business on May 11, 2016. Future decisions to pay, increase or decrease dividends are at the discretion of the Board and will be dependent on our operating performance, financial condition, capital expenditure requirements and such other factors that the Board considers relevant. As of June 28, 2016, our Board had authorized the repurchase of up to 48.5 million shares of our common stock. Under this authorization, we cumulatively repurchased 45.6 million shares at a total cost of $1,340.1 million through June 28, 2016, including 0.5 million shares at a cost of $26.6 million during the second quarter of fiscal 2016. Repurchased common stock is reflected as a reduction of stockholders’ equity. Our share repurchases have included repurchases under Rule 10b5-1 plans adopted from time to time by our Board in furtherance of its repurchase authorization. Repurchases made during the second quarter of fiscal 2016 were made under a Rule 10b5-1 plan that was adopted by our Board on November 3, 2015 and is effective from January 4, 2016 through June 30, 2016. On April 21, 2016, our Board approved the adoption of a 10b5-1 Plan, which will be effective from July 1, 2016 through December 30, 2016. Our share repurchase authorization does not have an expiration date, does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time. Shares may be repurchased in the open market or through privately negotiated transactions at times and prices considered appropriate by us. Purchases in the open market are made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 (the “Act”). We make the determination to repurchase shares based on several factors, including an evaluation of current and future capital needs associated with new restaurant development, current and forecasted cash flows, including dividend payments, a review of our capital structure and cost of capital, our share price and current market conditions. The timing and number of shares repurchased are also subject to legal constraints and financial covenants under our Facility that limit share repurchases based on a defined ratio. (See Note 3 for further discussion of our long-term debt.) Our objectives with regard to share repurchases are to offset the dilution to our shares outstanding that results from equity compensation grants and to supplement our earnings per share growth.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 28, 2016
Stock-Based Compensation
Stock-Based Compensation	6. Stock-Based Compensation The following table presents information related to stock-based compensation (in thousands): Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 Labor expenses $ $ $ $ Other operating costs and expenses General and administrative expenses Total stock-based compensation Income tax benefit Total stock-based compensation, net of taxes $ $ $ $ Capitalized stock-based compensation (1) $ $ $ $ (1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development and construction, legal, and facilities departments that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations, lease, intellectual property and liquor license acquisition activities and equipment installation. Capitalized stock-based compensation is included in property and equipment, net and other assets on the condensed consolidated balance sheets. Stock Options We did not issue any stock options during the second quarters of fiscal 2016 or fiscal 2015. Stock option activity during the twenty-six weeks ended June 28, 2016 was as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value(1) (In thousands) (Per share) (In years) (In thousands) Outstanding at December 29, 2015 $ $ Granted Exercised ) Forfeited or cancelled ) Outstanding at June 28, 2016 $ $ Exercisable at June 28, 2016 $ $ (1) Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pretax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date. The total intrinsic value of options exercised during the thirteen and twenty-six weeks ended June 28, 2016 was $2.4 million and $18.6 million, respectively. The total intrinsic value of options exercised during the thirteen and twenty-six weeks ended June 30, 2015 was $13.0 million and $21.6 million, respectively. As of June 28, 2016, total unrecognized stock-based compensation expense related to unvested stock options was $10.0 million, which we expect to recognize over a weighted average period of approximately 2.9 years. Restricted Shares and Restricted Share Units Restricted share and restricted share unit activity during the twenty-six weeks ended June 28, 2016 was as follows: Shares Weighted Average Fair Value (In thousands) (Per share) Outstanding at December 29, 2015 $ Granted Vested ) Forfeited ) Outstanding at June 28, 2016 $ Fair value of our restricted shares and restricted share units is based on our closing stock price on the date of grant. The weighted average fair value at the grant date for restricted shares and restricted share units issued during the second quarters of fiscal 2016 and fiscal 2015 was $52.08 and $48.80, respectively. The fair value of shares that vested during the thirteen and twenty-six weeks ended June 28, 2016 was $0.3 million and $8.7 million, respectively. The fair value of shares that vested during the thirteen and twenty-six weeks ended June 30, 2015 was $0.6 million and $6.3 million, respectively. As of June 28, 2016, total unrecognized stock-based compensation expense related to unvested restricted shares and restricted share units was $43.9 million, which we expect to recognize over a weighted average period of approximately 2.8 years.

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 28, 2016
Net Income Per Share
Net Income Per Share	7. Net Income Per Share At both June 28, 2016 and June 30, 2015, 1.8 million shares of restricted stock issued to employees were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal quarters ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Assumed proceeds from the in-the-money options include the windfall tax benefits, net of shortfalls, calculated under the “as-if” method as prescribed by FASB Accounting Standards Codification (“ASC”) 718, “Compensation — Stock Option Compensation.” Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 (In thousands, except per share data) Net income $ $ $ $ Basic weighted average shares outstanding Dilutive effect of equity awards Diluted weighted average shares outstanding Basic net income per share $ $ $ $ Diluted net income per share $ $ $ $ Shares of common stock equivalents of 0.9 million and 1.3 million for the thirteen and twenty-six weeks ended June 28, 2016, respectively, and 0.6 million and 1.1 million for the thirteen and twenty-six weeks ended June 30, 2015, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

Segment Information

Segment Information	6 Months Ended
	Jun. 28, 2016
Segment Information
Segment Information	8. Segment Information For decision-making purposes, our management reviews discrete financial information for The Cheesecake Factory, Grand Lux Cafe and RockSugar Pan Asian Kitchen restaurants, our bakery division and our international licensing operations. Based on quantitative thresholds set forth in ASC 280, “Segment Reporting,” The Cheesecake Factory is our only business that meets the criteria of a reportable operating segment. Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing are combined in Other. Unallocated corporate expenses, assets and capital expenditures are presented below as reconciling items to the amounts presented in the condensed consolidated financial statements. Segment information is presented below (in thousands): Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 Revenues: The Cheesecake Factory restaurants $ $ $ $ Other Total $ $ $ $ Income/(Loss) from operations: The Cheesecake Factory restaurants $ $ $ $ Other Corporate ) ) ) ) Total $ $ $ $ Depreciation and amortization: The Cheesecake Factory restaurants $ $ $ $ Other Corporate Total $ $ $ $ Capital expenditures: The Cheesecake Factory restaurants $ $ $ $ Other Corporate Total $ $ $ $ June 28, 2016 December 29, 2015 Total assets: The Cheesecake Factory restaurants $ $ Other Corporate Total $ $

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 28, 2016
Subsequent Events
Subsequent Events	9. Subsequent Events On July 21, 2016, our Board declared a quarterly cash dividend of $0.24 per share to be paid on August 23, 2016 to the stockholders of record at the close of business on August 10, 2016. On July 21, 2016, our Board increased the authorization to repurchase our common stock by 7.5 million shares to 56 million shares. See Note 5 for further discussion of our repurchase authorization and methods.

Basis of Presentation and Sig16

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2016
Basis of Presentation and Significant Accounting Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued guidance affecting all entities that issue share-based payment awards to their employees. This update covers such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. This update is effective for annual and interim periods beginning after December 15, 2016, which will require us to adopt these provisions in the first quarter of fiscal 2017. This guidance will be applied either prospectively, retrospectively or using a modified retrospective transition method, depending on the area covered in this update. Early adoption is permitted. We have not yet selected a transition date nor have we determined the effect of the standard on our condensed consolidated financial statements. In February 2016, the FASB issued guidance that requires a lessee to recognize on the balance sheet a liability to make lease payments and a corresponding right-of-use asset. The standard also requires certain qualitative and quantitative disclosures about the amount, timing and uncertainty of cash flows arising from leases. This update is effective for annual and interim periods beginning after December 15, 2018, which will require us to adopt these provisions in the first quarter of fiscal 2019 using a modified retrospective approach. Early adoption is permitted. We have not yet selected a transition date nor have we determined the effect of the standard on our condensed consolidated financial statements. In July 2015, the FASB issued guidance that requires inventory within the scope of the standard to be measured at the lower of cost or net realizable value. Previous guidance required inventory to be measured at the lower of cost or market (where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin). The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. We expect the adoption of this guidance to have no material impact on our condensed consolidated financial statements. In April 2015, the FASB issued guidance regarding a customer’s accounting for fees paid in a cloud computing arrangement. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for fiscal years beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In April 2015, the FASB issued updated guidance intended to simplify, and provide consistency to, the presentation of debt issuance costs. The new standard requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. In August 2015, the FASB provided additional guidance for presentation of debt issuance costs related to line-of-credit arrangements. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In February 2015, the FASB issued updated guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In June 2014, the FASB issued updated guidance intended to eliminate the diversity in practice regarding share-based payment awards that include terms which provide for a performance target that affects vesting being achieved after the requisite service period. The new standard requires that a performance target which affects vesting and could be achieved after the requisite service period be treated as a performance condition that affects vesting and should not be reflected in estimating the grant-date fair value. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2015, with early adoption permitted. Our adoption of this guidance in the first quarter of fiscal 2016 had no impact on our condensed consolidated financial statements. In May 2014, the FASB issued accounting guidance that provides a comprehensive new revenue recognition model that will supersede most of the existing revenue recognition requirements and require entities to recognize revenue at an amount that reflects the consideration to which a company expects to be entitled in exchange for transferring goods or services to a customer. In August 2015, the FASB deferred the effective date of this standard by one year with early adoption permitted no earlier than the original effective date. The guidance is now effective for us beginning in the first quarter of fiscal 2018. In March and April 2016, the FASB provided additional guidance related to implementation. This standard is not expected to have a material impact on our condensed consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 28, 2016
Inventories
Schedule of inventories	Inventories consisted of (in thousands): June 28, 2016 December 29, 2015 Restaurant food and supplies $ $ Bakery finished goods and work in progress Bakery raw materials and supplies Total $ $

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 28, 2016
Stock-Based Compensation
Schedule of information related to stock-based compensation	The following table presents information related to stock-based compensation (in thousands): Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 Labor expenses $ $ $ $ Other operating costs and expenses General and administrative expenses Total stock-based compensation Income tax benefit Total stock-based compensation, net of taxes $ $ $ $ Capitalized stock-based compensation (1) $ $ $ $ (1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development and construction, legal, and facilities departments that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations, lease, intellectual property and liquor license acquisition activities and equipment installation. Capitalized stock-based compensation is included in property and equipment, net and other assets on the condensed consolidated balance sheets.
Schedule of stock option activity	Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value(1) (In thousands) (Per share) (In years) (In thousands) Outstanding at December 29, 2015 $ $ Granted Exercised ) Forfeited or cancelled ) Outstanding at June 28, 2016 $ $ Exercisable at June 28, 2016 $ $ (1) Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pretax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date.
Schedule of restricted share and restricted share unit activity	Shares Weighted Average Fair Value (In thousands) (Per share) Outstanding at December 29, 2015 $ Granted Vested ) Forfeited ) Outstanding at June 28, 2016 $

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 28, 2016
Net Income Per Share
Schedule of basic and diluted income (loss) per share	Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 (In thousands, except per share data) Net income $ $ $ $ Basic weighted average shares outstanding Dilutive effect of equity awards Diluted weighted average shares outstanding Basic net income per share $ $ $ $ Diluted net income per share $ $ $ $

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 28, 2016
Segment Information
Schedule of segment information	Segment information is presented below (in thousands): Thirteen Weeks Ended June 28, 2016 Thirteen Weeks Ended June 30, 2015 Twenty-Six Weeks Ended June 28, 2016 Twenty-Six Weeks Ended June 30, 2015 Revenues: The Cheesecake Factory restaurants $ $ $ $ Other Total $ $ $ $ Income/(Loss) from operations: The Cheesecake Factory restaurants $ $ $ $ Other Corporate ) ) ) ) Total $ $ $ $ Depreciation and amortization: The Cheesecake Factory restaurants $ $ $ $ Other Corporate Total $ $ $ $ Capital expenditures: The Cheesecake Factory restaurants $ $ $ $ Other Corporate Total $ $ $ $ June 28, 2016 December 29, 2015 Total assets: The Cheesecake Factory restaurants $ $ Other Corporate Total $ $

Basis of Presentation and Sig21

Basis of Presentation and Significant Accounting Policies (Details)	6 Months Ended	12 Months Ended
	Jun. 28, 2016	Dec. 29, 2015
Summary of Significant Accounting Policies
Length of fiscal year	371 days	364 days

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 28, 2016	Dec. 29, 2015
Inventories
Restaurant food and supplies	$ 15,318	$ 16,127
Bakery finished goods and work in progress	13,480	12,104
Bakery raw materials and supplies	5,773	5,779
Total	$ 34,571	$ 34,010

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Millions	6 Months Ended
	Jun. 28, 2016USD ($)item	Dec. 22, 2015USD ($)
Long-term debt
Maximum commitments		$ 200
Maximum commitments, letter of credit subfacility		50
Additional available credit		$ 100
Available borrowings	$ 178.2
Outstanding borrowings	0
Outstanding letters of credit	$ 21.8
Multiplier of rent used to compute Adjusted Debt | item	8
Threshold amount of unrestricted cash and cash equivalents above which amounts are netted against debt for calculation of net adjusted leverage ratio	$ 25
Trailing period for which EBITDAR is computed	12 months
Net Adjusted Leverage Ratio	2.4
EBITDAR Ratio	3
Minimum
Long-term debt
Financial covenant, EBITDAR Ratio	1.9
Commitment fee (as a percent)	0.125%
Maximum
Long-term debt
Financial covenant, EBITDAR Ratio	4
Commitment fee (as a percent)	0.25%
Adjusted LIBO Rate
Long-term debt
Credit facility, floating interest rate basis	Adjusted LIBO Rate
Adjusted LIBO Rate | Minimum
Long-term debt
Credit facility, basis spread on variable rate, (as a percent)	1.00%
Adjusted LIBO Rate | Maximum
Long-term debt
Credit facility, basis spread on variable rate, (as a percent)	1.75%
Federal Funds Effective Rate
Long-term debt
Credit facility, floating interest rate basis	Federal Funds Effective Rate
Credit facility, basis spread on variable rate, (as a percent)	0.50%
One-month Adjusted LIBO Rate
Long-term debt
Credit facility, floating interest rate basis	one-month Adjusted LIBO Rate
Fixed percentage added to variable rate	1.00%
One-month Adjusted LIBO Rate | Minimum
Long-term debt
Credit facility, basis spread on variable rate, (as a percent)	0.00%
One-month Adjusted LIBO Rate | Maximum
Long-term debt
Credit facility, basis spread on variable rate, (as a percent)	0.75%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 21, 2016	Apr. 21, 2016	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015	Dec. 29, 2015
Stockholders Equity:
Cash dividends declared per common share (in dollars per share)		$ 0.20	$ 0.20	$ 0.165	$ 0.40	$ 0.33
Repurchased shares since program inception			45,622,532		45,622,532		44,064,322
Value of shares repurchased since program inception			$ 1,340,052		$ 1,340,052		$ 1,263,422
Treasury stock repurchased during period					$ 76,630
Subsequent event
Stockholders Equity:
Cash dividends declared per common share (in dollars per share)	$ 0.24
Treasury Stock
Stockholders Equity:
Additional number of shares authorized to repurchase			48,500,000		48,500,000
Repurchased shares since program inception			45,600,000		45,600,000
Value of shares repurchased since program inception			$ 1,340,100		$ 1,340,100
Shares repurchased during period			500,000
Treasury stock repurchased during period			$ 26,600
Treasury Stock | Subsequent event
Stockholders Equity:
Additional number of shares authorized to repurchase	7,500,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015
Stock-based compensation
Total stock-based compensation	$ 6,119	$ 4,946	$ 11,304	$ 9,677
Income tax benefit	2,340	1,892	4,324	3,701
Total stock-based compensation, net of taxes	3,779	3,054	6,980	5,976
Capitalized stock-based compensation	76	79	149	146
Labor expenses
Stock-based compensation
Total stock-based compensation	1,708	1,556	2,964	3,102
Other operating costs and expenses
Stock-based compensation
Total stock-based compensation	75	64	125	137
General and administrative expenses
Stock-based compensation
Total stock-based compensation	$ 4,336	$ 3,326	$ 8,215	$ 6,438

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015	Dec. 29, 2015
Stock options
Stock option activity, shares
Outstanding, at the beginning of the period (in shares)			3,066
Granted (in shares)			225
Exercised (in shares)			(644)
Forfeited or cancelled (in shares)			(31)
Outstanding at the end of the period (in shares)	2,616		2,616		3,066
Exercisable at the end of the period (in shares)	1,651		1,651
Weighted Average Exercise price
Outstanding at the beginning of the period (in dollars per share)			$ 30
Granted (in dollars per share)			50.26
Exercised (in dollars per share)			21.41
Forfeited or cancelled (in dollars per share)			40.96
Outstanding at the end of the period (in dollars per share)	$ 33.73		33.73		$ 30
Exercisable at the end of the period (in dollars per share)	$ 27.92		$ 27.92
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term			3 years 10 months 24 days		3 years 7 months 6 days
Exercisable at the end of the period			2 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding at the beginning of the period			$ 52,416
Outstanding at the end of the period	$ 36,215		36,215		$ 52,416
Exercisable at the end of the period	31,779		31,779
Total intrinsic value of options exercised	2,400	$ 13,000	18,600	$ 21,600
Unrecognized Stock-based Compensation Expense
Total unrecognized stock-based compensation expenses related to unvested stock options, restricted shares and restricted share units	$ 10,000		$ 10,000
Expected weighted average period for recognition of compensation expense related to unvested stock option			2 years 10 months 24 days
Restricted stock
Restricted Shares and Restricted Share Units
Outstanding at the beginning of the period (in shares)			1,891
Granted (in shares)			316
Vested (in shares)			(256)
Forfeited (in shares)			(66)
Outstanding at the end of the period (in shares)	1,885		1,885		1,891
Fair value of shares vested	$ 300	$ 600	$ 8,700	$ 6,300
Weighted Average Fair Value
Outstanding at the beginning of the period (in dollars per share)			$ 41.31
Granted (in dollars per share)	$ 52.08	$ 48.80	49.95
Vested (in dollars per share)			33.92
Forfeited (in dollars per share)			41.79
Outstanding at the end of the period (in dollars per share)	$ 43.70		$ 43.70		$ 41.31
Unrecognized Stock-based Compensation Expense
Total unrecognized stock-based compensation expenses related to unvested stock options, restricted shares and restricted share units	$ 43,900		$ 43,900
Expected weighted average period for recognition of compensation expense related to unvested stock option			2 years 9 months 18 days

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jun. 28, 2016	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015
Net income per share
Antidilutive securities excluded from calculation of basic earnings per share (in shares)		900	600	1,300	1,100
Net income per share, basic and diluted
Net income		$ 38,585	$ 34,724	$ 72,539	$ 63,147
Basic weighted average shares outstanding (in shares)		48,232	48,451	48,375	48,838
Dilutive effect of equity awards (in shares)		1,366	1,811	1,439	1,843
Diluted weighted average shares outstanding (in shares)		49,598	50,262	49,814	50,681
Basic net income per share (in dollars per share)		$ 0.80	$ 0.72	$ 1.50	$ 1.29
Diluted net income per share (in dollars per share)		$ 0.78	$ 0.69	$ 1.46	$ 1.25
Restricted stock
Net income per share
Antidilutive securities excluded from calculation of basic earnings per share (in shares)	1,800				1,800

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015	Dec. 29, 2015
Segment information
Revenues	$ 558,862	$ 529,107	$ 1,112,555	$ 1,047,080
Income/(loss) from operations	55,190	49,753	103,784	90,807
Depreciation and amortization	21,461	21,158	42,925	42,335
Capital expenditures	17,767	35,322	40,208	59,473
Total assets	1,204,318		1,204,318		$ 1,233,346
The Cheesecake Factory restaurants
Segment information
Revenues	511,918	483,285	1,018,234	956,102
Income/(loss) from operations	82,285	77,292	156,577	143,993
Depreciation and amortization	18,222	17,638	36,474	35,306
Capital expenditures	14,640	25,398	36,072	42,220
Total assets	890,751		890,751		934,606
Other
Segment information
Revenues	46,944	45,822	94,321	90,978
Income/(loss) from operations	5,769	5,263	12,681	11,326
Depreciation and amortization	2,068	2,512	4,143	5,006
Capital expenditures	2,778	5,745	3,471	9,311
Total assets	150,360		150,360		152,243
Corporate
Segment information
Income/(loss) from operations	(32,864)	(32,802)	(65,474)	(64,512)
Depreciation and amortization	1,171	1,008	2,308	2,023
Capital expenditures	349	$ 4,179	665	$ 7,942
Total assets	$ 163,207		$ 163,207		$ 146,497

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares shares in Millions	Jul. 21, 2016	Apr. 21, 2016	Jun. 28, 2016	Jun. 30, 2015	Jun. 28, 2016	Jun. 30, 2015
Subsequent events
Cash dividends declared per common share (in dollars per share)		$ 0.20	$ 0.20	$ 0.165	$ 0.40	$ 0.33
Subsequent event
Subsequent events
Cash dividends declared per common share (in dollars per share)	$ 0.24
Treasury Stock
Subsequent events
Additional number of shares authorized to repurchase			48.5		48.5
Treasury Stock | Subsequent event
Subsequent events
Additional number of shares authorized to repurchase	7.5
Number of shares authorized to be repurchased	56