The Cheesecake Factory Incorporated (CAKE) 10-Q 8 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 01, 2019	Nov. 01, 2019
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Oct. 1, 2019
Entity File Number	0-20574
Entity Registrant Name	THE CHEESECAKE FACTORY INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0340466
Entity Address, Address Line One	26901 Malibu Hills Road
Entity Address, City or Town	Calabasas Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91301
City Area Code	818
Local Phone Number	871-3000
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	CAKE
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		44,633,789
Entity Central Index Key	0000887596
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 01, 2019	Jan. 01, 2019
Current assets:
Cash and cash equivalents	$ 306,252	$ 26,578
Accounts receivable	16,356	20,928
Income taxes receivable	8,415
Other receivables	31,445	68,193
Inventories	47,778	38,886
Prepaid expenses	38,895	40,645
Total current assets	449,141	195,230
Property and equipment, net	759,243	913,275
Other assets:
Intangible assets, net	20,271	26,209
Prepaid rent		34,961
Operating lease assets	984,838
Investments in unconsolidated affiliates	69,328	79,767
Other	98,949	64,691
Total other assets	1,173,386	205,628
Total assets	2,381,770	1,314,133
Current liabilities:
Accounts payable	36,095	49,071
Income taxes payable		712
Gift card liabilities	135,566	172,336
Operating lease liabilities	90,027
Other accrued expenses	172,098	194,381
Total current liabilities	433,786	416,500
Deferred income taxes	38,449	52,123
Deferred rent liabilities		79,697
Deemed landlord financing liabilities		113,095
Long-term debt	335,000	10,000
Operating lease liabilities	959,632
Other noncurrent liabilities	81,087	71,659
Commitments and contingencies (Note 7)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued
Common stock, $.01 par value, 250,000,000 shares authorized; 97,548,633 and 96,621,990 issued at October 1, 2019 and January 1, 2019, respectively	975	967
Additional paid-in capital	850,485	828,676
Retained earnings	1,375,690	1,384,494
Treasury stock, 52,906,744 and 51,791,941 shares at cost at October 1, 2019 and January 1, 2019, respectively	(1,692,701)	(1,642,140)
Accumulated other comprehensive loss	(633)	(938)
Total stockholders' equity	533,816	571,059
Total liabilities and stockholders' equity	$ 2,381,770	$ 1,314,133

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 01, 2019	Jan. 01, 2019
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	97,548,633	96,621,990
Treasury stock, shares	52,906,744	51,791,941

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Revenues	$ 586,536	$ 575,160	$ 1,788,662	$ 1,747,176
Costs and expenses:
Cost of sales	132,941	132,168	403,566	398,059
Labor expenses	213,600	203,449	648,831	624,432
Other operating costs and expenses	149,397	140,975	451,724	426,466
General and administrative expenses	39,746	37,469	116,116	118,166
Depreciation and amortization expenses	21,342	24,090	64,363	71,819
Impairment of assets and lease terminations		263		2,846
Preopening costs	2,546	3,251	6,851	5,799
Total costs and expenses	559,572	541,665	1,691,451	1,647,587
Income from operations	26,964	33,495	97,211	99,589
Loss on investment in unconsolidated affiliates	(10,345)	(1,558)	(13,439)	(2,686)
Interest and other income/(expense), net	6	(1,732)	(17)	(5,018)
Income before income taxes	16,625	30,205	83,755	91,885
Income tax provision	535	1,730	5,171	9,028
Net income	$ 16,090	$ 28,475	$ 78,584	$ 82,857
Net income per share:
Basic (in dollars per share)	$ 0.37	$ 0.63	$ 1.78	$ 1.82
Diluted (in dollars per share)	$ 0.36	$ 0.61	$ 1.76	$ 1.79
Weighted average shares outstanding:
Basic (in shares)	43,682	45,321	44,034	45,418
Diluted (in shares)	44,186	46,368	44,643	46,400

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 16,090	$ 28,475	$ 78,584	$ 82,857
Other comprehensive gain/(loss):
Foreign currency translation adjustment	(109)	272	305	(223)
Other comprehensive gain/(loss)	(109)	272	305	(223)
Total comprehensive income	$ 15,981	$ 28,747	$ 78,889	$ 82,634

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Total
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting the pronouncement related to revenue recognition, net of tax | Accounting Standards Update 2014-09			$ (3,560)			$ (3,560)
Balance (as adjusted)	$ 954	$ 799,862	1,342,106	$ (1,532,864)	$ (88)	609,970
Balance at Jan. 02, 2018	$ 954	799,862	1,345,666	(1,532,864)	(88)	613,530
Balance (in shares) at Jan. 02, 2018	95,412
Increase (Decrease) in Stockholders' Equity
Net income			26,029			26,029
Foreign currency translation adjustment					(246)	(246)
Cash dividends declared Common stock			(13,280)			(13,280)
Stock-based compensation	$ 4	6,079				6,083
Stock-based compensation (in shares)	334
Common stock issued under stock-based compensation plans	$ 2	538				540
Common stock issued under stock-based compensation plans (in shares)	211
Treasury stock purchases				(34,903)		(34,903)
Balance at Apr. 03, 2018	$ 960	806,479	1,354,855	(1,567,767)	(334)	594,193
Balance (in shares) at Apr. 03, 2018	95,957
Balance at Jan. 02, 2018	$ 954	799,862	1,345,666	(1,532,864)	(88)	613,530
Balance (in shares) at Jan. 02, 2018	95,412
Increase (Decrease) in Stockholders' Equity
Net income						82,857
Foreign currency translation adjustment						(223)
Balance at Oct. 02, 2018	$ 963	823,206	1,383,305	(1,593,757)	(311)	613,406
Balance (in shares) at Oct. 02, 2018	96,388
Balance at Apr. 03, 2018	$ 960	806,479	1,354,855	(1,567,767)	(334)	594,193
Balance (in shares) at Apr. 03, 2018	95,957
Increase (Decrease) in Stockholders' Equity
Net income			28,353			28,353
Foreign currency translation adjustment					(249)	(249)
Cash dividends declared Common stock			(13,296)			(13,296)
Stock-based compensation		5,130				5,130
Stock-based compensation (in shares)	45
Common stock issued under stock-based compensation plans	$ 2	5,775				5,777
Common stock issued under stock-based compensation plans (in shares)	227
Treasury stock purchases				(7,126)		(7,126)
Balance at Jul. 03, 2018	$ 962	817,384	1,369,912	(1,574,893)	(583)	612,782
Balance (in shares) at Jul. 03, 2018	96,229
Increase (Decrease) in Stockholders' Equity
Net income			28,475			28,475
Foreign currency translation adjustment					272	272
Cash dividends declared Common stock			(15,082)			(15,082)
Stock-based compensation		4,803				4,803
Stock-based compensation (in shares)	51
Common stock issued under stock-based compensation plans	$ 1	1,019				1,020
Common stock issued under stock-based compensation plans (in shares)	108
Treasury stock purchases				(18,864)		(18,864)
Balance at Oct. 02, 2018	$ 963	823,206	1,383,305	(1,593,757)	(311)	613,406
Balance (in shares) at Oct. 02, 2018	96,388
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adopting the pronouncement related to revenue recognition, net of tax | ASU 2016-02			(41,466)			(41,466)
Balance (as adjusted)	$ 967	828,676	1,343,028	(1,642,140)	(938)	529,593
Balance at Jan. 01, 2019	$ 967	828,676	1,384,494	(1,642,140)	(938)	571,059
Balance (in shares) at Jan. 01, 2019	96,622
Increase (Decrease) in Stockholders' Equity
Net income			26,984			26,984
Foreign currency translation adjustment					239	239
Cash dividends declared Common stock			(14,952)			(14,952)
Stock-based compensation	$ 3	5,907				5,910
Stock-based compensation (in shares)	350
Common stock issued under stock-based compensation plans	$ 4	5,537				5,541
Common stock issued under stock-based compensation plans (in shares)	412
Treasury stock purchases				(11,071)		(11,071)
Balance at Apr. 02, 2019	$ 974	840,120	1,355,060	(1,653,211)	(699)	542,244
Balance (in shares) at Apr. 02, 2019	97,384
Balance at Jan. 01, 2019	$ 967	828,676	1,384,494	(1,642,140)	(938)	571,059
Balance (in shares) at Jan. 01, 2019	96,622
Increase (Decrease) in Stockholders' Equity
Net income						78,584
Foreign currency translation adjustment						305
Balance at Oct. 01, 2019	$ 975	850,485	1,375,690	(1,692,701)	(633)	533,816
Balance (in shares) at Oct. 01, 2019	97,549
Balance at Apr. 02, 2019	$ 974	840,120	1,355,060	(1,653,211)	(699)	542,244
Balance (in shares) at Apr. 02, 2019	97,384
Increase (Decrease) in Stockholders' Equity
Net income			35,510			35,510
Foreign currency translation adjustment					175	175
Cash dividends declared Common stock			(14,899)			(14,899)
Stock-based compensation	$ 1	4,691				4,692
Stock-based compensation (in shares)	47
Common stock issued under stock-based compensation plans		650				650
Common stock issued under stock-based compensation plans (in shares)	49
Treasury stock purchases				(28,093)		(28,093)
Balance at Jul. 02, 2019	$ 975	845,461	1,375,671	(1,681,304)	(524)	540,279
Balance (in shares) at Jul. 02, 2019	97,480
Increase (Decrease) in Stockholders' Equity
Net income			16,090			16,090
Foreign currency translation adjustment					(109)	(109)
Cash dividends declared Common stock			(16,071)			(16,071)
Stock-based compensation		4,699				4,699
Stock-based compensation (in shares)	13
Common stock issued under stock-based compensation plans	$ 0	325				325
Common stock issued under stock-based compensation plans (in shares)	56
Treasury stock purchases				(11,397)		(11,397)
Balance at Oct. 01, 2019	$ 975	$ 850,485	$ 1,375,690	$ (1,692,701)	$ (633)	$ 533,816
Balance (in shares) at Oct. 01, 2019	97,549

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Jul. 25, 2019	Oct. 01, 2019	Jul. 02, 2019	Apr. 02, 2019	Oct. 02, 2018	Jul. 03, 2018	Apr. 03, 2018
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
Cash dividends declared per common share (in dollars per share)	$ 0.36	$ 0.36	$ 0.33	$ 0.33	$ 0.33	$ 0.29	$ 0.29

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018
Cash flows from operating activities:
Net income	$ 78,584	$ 82,857
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization expenses	64,363	71,819
Deferred income taxes	(2,640)	916
Impairment of assets and lease terminations		2,532
Stock-based compensation	15,135	15,807
Loss on investments in unconsolidated affiliates	13,439	2,686
Changes in assets and liabilities:
Accounts and other receivable	40,634	35,747
Income taxes receivable/payable	(9,127)	11,832
Inventories	(8,890)	2,789
Prepaid expenses	(2,746)	10,163
Operating lease assets/liabilities	(5,234)
Other assets	(8,985)	279
Accounts payable	(15,654)	(8,392)
Gift Card Liabilities	(36,774)	(38,606)
Other accrued expenses	(5,898)	(8,323)
Cash provided by operating activities	116,207	182,106
Cash flows from investing activities:
Additions to property and equipment	(46,702)	(78,716)
Additions to intangible assets	(353)	(2,677)
Investments in unconsolidated affiliates	(3,000)	(25,000)
loans made to unconsolidated Affiliates	(22,500)
Proceeds from variable life insurance contract		540
Cash used in investing activities	(72,555)	(105,853)
Cash flows from financing activities:
Deemed landlord financing proceeds		19,156
Deemed landlord financing payments		(3,799)
Borrowings on credit facility	335,000	45,000
Repayments on credit facility	(10,000)	(35,000)
Proceeds from exercise of stock options	6,516	7,337
Cash dividends paid	(44,990)	(41,449)
Treasury stock purchases	(50,561)	(60,893)
Cash provided/(used) in financing activities	235,965	(69,648)
Foreign currency translation adjustment	57	26
Net change in cash and cash equivalents	279,674	6,631
Cash and cash equivalents at beginning of period	26,578	6,008
Cash and cash equivalents at end of period	306,252	12,639
Supplemental disclosures:
Interest paid	854	6,156
Income taxes paid	16,966	8,144
Construction payable	$ 6,400	8,609
Non-cash operating:
Settlement of sale-leaseback accounting		286
Non-cash investing:
Settlement of landlord sale-leaseback accounting		(1,174)
Non-cash financing:
Settlement of landlord financing obligation for sale-leaseback leases		888
Deemed landlord financing proceeds		$ 7,278

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Oct. 01, 2019
Significant Accounting Policies
Significant Accounting Policies	1. Significant Accounting Policies ​ Basis of Presentation ​ 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”) and are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions for the periods presented have been eliminated in consolidation. 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 that may be achieved 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 January 1, 2019 filed with the SEC on March 4, 2019 (“fiscal 2018 10-K”). ​ We utilize a 52/53-week fiscal year ending on the Tuesday closest to December 31 for financial reporting purposes. Fiscal 2019 consists of 52 weeks and will end on December 31, 2019. Fiscal 2018, which ended on January 1, 2019, was also a 52-week year. ​ Beginning with our fiscal 2018 10-K, we separately disclosed our investments in unconsolidated affiliates on the consolidated balance sheet and our related share of losses on the consolidated statement of income and statement of cash flow. Corresponding balances for the thirteen and thirty-nine weeks ended October 1, 2018 were reclassified to conform to the current presentation. ​ Beginning with our fiscal 2018 10-K, we corrected an error in our consolidated statements of income by reclassifying complimentary meals out of revenue and other operating expenses. We also reclassified the associated cost of complimentary meals from other operating expenses to cost of sales and labor. The reclassifications had no impact on previously reported income from operations or net income. Corresponding balances for the first three fiscal quarters of 2018 were reclassified to conform to the current presentation. ​ Use of Estimates ​ 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. ​ Recent Accounting Pronouncements ​ We adopted FASB Accounting Standards Codification (“ASC”) Topic 842, “Leases,” as of January 2, 2019, using the alternative transition method and recorded a cumulative effect adjustment to beginning retained earnings without restating prior periods. We elected the package of practical expedients which allowed us to carry forward our historical lease classification, our assessment of whether a contract is or contains a lease and our initial direct costs for any leases that existed prior to adoption of the new standard. In addition, we elected the hindsight practical expedient, which lengthened the lease term for certain of our leases to include renewal options, and the short-term lease exclusion. Adoption of the new standard resulted in the recognition of operating lease assets and liabilities of $975.1 million and $1,045.4 million, respectively, and a reduction to retained earnings of $41.5 million, net of tax. All prior lease-related balances of $39.2 million of prepaid rent, $140.2 million in property and equipment, net, $6.2 million of intangible assets, net, $82.1 million of deferred rent liabilities and $118.7 million of deemed landlord financing have been reclassified into operating lease assets or eliminated upon ASC 842 adoption. ​ Leases ​ We currently lease all our restaurant locations, generally with initial terms of 20 years plus two five-year renewal options. Our leases typically require contingent rent above the minimum base rent payments based on a percentage of revenues, have escalating minimum rent requirements over the term of the lease and require payment for various expenses incidental to the use of the property. A majority of our leases provide for a reduced level of overall rent obligation should specified co-tenancy requirements not be satisfied. We expend cash for leasehold improvements and furniture, fixtures, and equipment to build out and equip our leased premises. We may also expend cash for structural additions that we make to leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed to us by our landlords as construction contributions. If obtained, landlord construction contributions usually take the form of up-front cash, full or partial credits against our future minimum or percentage rents, or a combination thereof. We do not meet any of the accounting criteria for being the owner of the asset under construction. Many of our leases provide early termination rights permitting us to terminate the lease prior to expiration in the event our revenues are below a stated level for a period of time, generally conditioned upon repayment of the unamortized landlord contributions. ​ In addition to leases for our restaurant locations, we also lease automobiles and certain equipment that is used in the restaurants, bakeries and corporate office. The automobile leases are the only non-real estate leases included in our operating lease assets and liabilities. All other leases are immaterial or qualify for the short-term lease exclusion. ​ The assessment of whether a contract is or contains a lease is performed at contract inception. A lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined as having both the right to obtain substantially all the economic benefits from the use of the asset and to direct how and for what purpose the asset is used. ​ At lease commencement, we evaluate each lease to determine its appropriate classification as an operating or finance lease. All our restaurant and automobile leases are classified as operating leases. For restaurant leases existing at transition, we will continue to apply our historical practice of excluding executory costs, and only minimum base rent will be factored into the initial operating lease liability and corresponding lease asset. For restaurant leases beginning after adoption of ASC 842, we have elected the single lease component practical expedient. Operating lease assets and liabilities are recorded on the balance sheet at lease commencement based on the present value of minimum base rent and other fixed payments over the reasonably certain lease term. The difference between the amounts we expend for structural costs and the construction contributions received from our landlords is recorded as an adjustment to the operating lease asset. Lease terms include the build-out period for our leases where no rent payments are typically due under the terms of the lease, as well as options to renew when we deem we have significant economic incentive to exercise the extension. When determining if we have a significant economic incentive, we consider relevant factors, such as contractual, asset, entity and market-based considerations. Option periods are included in the lease term for the majority of our leases. Termination rights have not been factored into the lease terms since based on our probability assessment we are reasonably certain we will not terminate our leases. ​ We cannot determine the interest rate implicit in our leases because we do not have access to the lessor's estimated residual value or the amount of the lessor's deferred initial direct costs. Therefore, we use our incremental borrowing rate as the discount rate for our leases. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because we do not generally borrow on a collateralized basis, we derive an appropriate incremental borrowing rate using the interest rate we pay on our non-collateralized borrowings, adjusted for the amount of the lease payments, the lease term and the effect of designating specific collateral with a value equal to the unpaid lease payments for that lease. We apply the incremental borrowing rate on a portfolio basis given the impact of applying it on a lease by lease basis would be immaterial . ​ We monitor for events or changes in circumstances that require reassessment of our leases. When a reassessment results in the re-measurement of a lease liability, a corresponding adjustment is made to the carrying amount of the operating lease asset. We also assess the potential impairment of our operating lease assets under long-lived asset impairment guidance in ASC 360. ​ Rent expense included in our operating lease assets is recognized on a straight-line basis. Contingent rent expense is recorded as incurred to the extent it exceeds minimum base rent per the lease agreement. Other variable rent expense is recognized as incurred. The reasonably certain lease term and the incremental borrowing rate for each restaurant location require judgment by management and can impact the classification and accounting for a lease as operating or finance, as well as the value of the operating lease asset and liability. These judgments may produce materially different amounts of rent expense than would be reported if different assumptions were used. ​ ​

Inventories

Inventories	9 Months Ended
	Oct. 01, 2019
Inventories
Inventories	2. Inventories ​ Inventories consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2019 January 1, 2019 Restaurant food and supplies ​ $ 20,102 ​ $ 18,362 Bakery finished goods and work in progress ​ 21,679 ​ 13,845 Bakery raw materials and supplies ​ 5,997 ​ 6,679 Total ​ $ 47,778 ​ $ 38,886 ​

Gift Cards

Gift Cards	9 Months Ended
	Oct. 01, 2019
Gift Cards
Gift Cards	3. Gift Cards ​ The following tables present information related to gift cards (in thousands): ​ Gift card liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 142,361 ​ $ 133,617 ​ $ 172,336 ​ $ 163,951 Activations ​ 21,577 ​ 20,559 ​ 70,949 ​ 70,754 Redemptions and breakage ​ (28,372) ​ (28,834) ​ (107,719) ​ (109,363) Ending balance ​ $ 135,566 ​ $ 125,342 ​ $ 135,566 ​ $ 125,342 ​ Gift card contract assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 20,092 ​ $ 20,619 ​ $ 23,388 ​ $ 23,814 Deferrals ​ 2,929 ​ 2,500 ​ 8,993 ​ 8,902 Amortization ​ (4,689) ​ (4,756) ​ (14,049) ​ (14,353) Ending balance ​ $ 18,332 ​ $ 18,363 ​ $ 18,332 ​ $ 18,363 (1) Included in prepaid expenses on the condensed consolidated balance sheets.

Other Assets

Other Assets	9 Months Ended
	Oct. 01, 2019
Other Assets
Other Assets	4. Other Assets ​ Other assets consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1,2019 January 1,2019 Executive Savings Plan trust assets ​ $ 66,869 ​ $ 57,605 Loans receivable from unconsolidated affiliates ​ 22,500 ​ — Deposits ​ 5,485 ​ 5,489 Deferred income taxes ​ 4,095 ​ 1,597 Total ​ $ 98,949 ​ $ 64,691 ​

Leases

Leases	9 Months Ended
	Oct. 01, 2019
Leases
Leases	5. Leases ​ Components of lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Thirty-Nine ​ ​ October 1, 2019 ​ October 1, 2019 Operating ​ $ 26,270 ​ $ 77,875 Variable ​ 15,768 ​ 48,529 Short-term ​ 81 ​ 234 Total ​ $ 42,119 ​ $ 126,638 ​ Rent expense on all operating leases (under ASC 840) was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Thirty-Nine ​ ​ October 2, 2018 ​ October 2, 2018 Straight-lined minimum base rent ​ $ 21,078 ​ $ 62,051 Contingent rent ​ 4,980 ​ 15,187 Common area maintenance and taxes ​ 10,110 ​ 29,948 Total ​ $ 36,168 ​ $ 107,186 ​ Supplemental cash flow information related to leases (in thousands, except percentages): ​ ​ ​ ​ ​ ​ ​ Thirty-Nine ​ ​ ​ October 1, 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 73,163 ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 35,271 ​ Weighted-average remaining lease term — operating leases (in years) ​ 17.1 ​ Weighted-average discount rate — operating leases ​ ​ 5.3 % ​ As of October 1, 2019, the maturities of our operating lease liabilities are as follows (in thousands): ​ ​ ​ ​ ​ 2019 $ 18,474 2020 ​ ​ 100,442 2021 ​ ​ 98,794 2022 ​ ​ 97,528 2023 ​ ​ 96,003 Thereafter ​ ​ 1,230,956 Total future lease payments ​ $ 1,642,197 Less: Interest ​ 592,538 Present value of lease liabilities ​ $ 1,049,659 ​ As of January 1, 2019, the aggregate minimum annual lease payments under operating leases (under ASC 840), including amounts characterized as deemed landlord financing payments, were as follows (in thousands): ​ ​ ​ ​ ​ 2019 $ 93,792 2020 ​ 91,808 2021 ​ 88,829 2022 ​ 86,925 2023 ​ 81,929 Thereafter ​ 495,091 Total ​ $ 938,374 ​ During the first three quarters of fiscal 2019, five leases were executed; three have initial terms of 20 years plus two five-year renewal options, one has an initial term of 10 years and four five-year renewal options and one has a term of 20 years. All but one include allowances for tenant improvements. Four of these leases commenced in the third quarter of fiscal 2019, two with reasonably certain lease terms of 20 years and two with reasonably certain lease terms of 30 years. The remaining lease is expected to commence in the fourth quarter of fiscal 2019 with undiscounted fixed payments over the initial term of $14.1 million. We will assess the reasonably certain lease term at lease commencement.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 01, 2019
Long-Term Debt
Long-Term Debt	6. Long-Term Debt ​ On July 30, 2019, we entered into a Third Amended and Restated Loan Agreement (the “New Facility”), which amends and restates in its entirety our prior Second Amended and Restated Loan Agreement dated as of December 22, 2015. The New Facility, which terminates on July 30, 2024, provides us with revolving loan commitments that total $400 million (of which $40 million may be used for issuances of letters of credit). The New Facility contains a commitment increase feature that could provide for an additional $200 million in available credit upon our request and subject to the participating lenders electing to increase their commitments or new lenders being added to the New Facility. During the third quarter of fiscal 2019, we utilized the New Facility to support the North Italia and Fox Restaurant Concepts LLC ("FRC") acquisitions (see Note 12 for further discussion of the acquisitions). At October 1, 2019, we had net availability for borrowings of $45.6 million, based on a $335.0 million outstanding debt balance and $19.4 million in standby letters of credit. ​ We are subject to certain financial covenants under the New Facility requiring us to maintain (i) a maximum "Net Adjusted Leverage Ratio" of 4.75 and (ii) a minimum ratio of EBITDAR to interest and rent expense of 1.9 ("EBITDAR Ratio"), as well as customary events of default that, if triggered, could result in acceleration of the maturity of the New Facility. The New Facility also limits cash distributions with respect to our equity interests, such as cash dividends and share repurchases, based on a defined ratio, and also sets forth negative covenants that restrict indebtedness, liens, investments, sales of assets, fundamental changes and other matters. ​ Borrowings under the New Facility bear interest, at our option, at a rate equal to either: (i) the adjusted LIBO Rate (as customarily defined) (the “Adjusted LIBO Rate”) plus a margin that is based on our net adjusted leverage ratio, or (ii) the sum of (a) the highest of (1) the rate of interest last quoted by The Wall Street Journal as the prime rate in effect in the United States, (2) the greater of the rate calculated by the Federal Reserve Bank of New York as the effective federal funds rate or the rate that is published by the Federal Reserve Bank of New York as an 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 that is based on our net adjusted leverage ratio. Letters of credit issued under the New Facility bear fees that are equivalent to the interest rate margin that is applicable to revolving loans that bear interest at the adjusted LIBO Rate plus other customary fees charged by the issuing bank. Under the New Facility, we paid certain customary loan origination fees and will pay an unused fee on the unused portion of the New Facility that is also based on our Net Adjusted Leverage Ratio. Our Net Adjusted Leverage and EBITDAR Ratios were 3.3 and 2.5, respectively, at October 1, 2019, and we were in compliance with all covenants in effect at that date. ​ Our obligations under the New Facility are unsecured. Certain of our material subsidiaries have guaranteed our obligations under the New Facility. The New Facility will be used for our general corporate purposes, including for the issuance of standby letters of credit to support our self-insurance programs, and to fund dividends, stock repurchases and permitted acquisitions. ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 01, 2019
Commitments and Contingencies
Commitments and Contingencies	7. Commitments and Contingencies ​ 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 the California Labor Code Private Attorney General Act in addition to other monetary payments (Tagalogon v. The Cheesecake Factory Restaurants, Inc.; Case No. BC603620). On July 29, 2016, we filed a response to the complaint. On March 7, 2019, the parties participated in voluntary mediation, which concluded without the parties reaching a resolution. On June 4, 2019, the parties notified the Court that they reached a tentative agreement to settle this case. The settlement agreement is subject to documentation and court approval. Based on the current status of this matter, we have reserved an immaterial amount in anticipation of settlement. ​ On June 7, 2018, the California Department of Industrial Relations issued a $4.2 million wage citation jointly against the Company and our vendor that provides janitorial services to eight of our Southern California restaurants, alleging that the janitorial vendor or its subcontractor failed to comply with various provisions of the California Labor Code (Wage Citation Case No. 35-CM-188798-16). The wage citation seeks to recover penalties and other monetary payments on behalf of the employees that worked for this vendor or its subcontractor. On June 28, 2018, we filed an appeal of the wage citation. The initial hearing on our appeal took place on November 5, 2019. We intend to vigorously defend this action. However, it is not possible at this time to reasonably estimate the outcome of or any potential liability from this matter and, accordingly, we have not reserved for any potential future payments. ​ On June 22, 2018, the Internal Revenue Service issued a Notice of Deficiency in which they disallowed $8.0 million of our §199 Domestic Production Activities Deduction for tax years 2010, 2011 and 2012. On September 11, 2018 we petitioned the United States Tax Court for a redetermination of the deficiency. The tax court has assigned docket number 18150-18 to our case. We intend to vigorously defend our position in litigation and based on our analysis of the law, regulations and relevant facts, 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 amount of reasonably possible losses resulting from 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. Legal costs related to such claims are expensed as incurred.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Oct. 01, 2019
Stockholders' Equity
Stockholders' Equity	8. Stockholders’ Equity ​ On July 25, 2019, our Board of Directors (“Board”) approved a quarterly cash dividend of $0.36 per share that was paid on August 27, 2019 to the stockholders of record at the close of business on August 14, 2019. Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will be dependent on our operating performance, financial condition, capital expenditure requirements, limitations on cash distributions pursuant to the terms and conditions of the New Facility and applicable law, and such other factors that our Board considers relevant. (See Note 6 for further discussion of the New Facility.) ​ Under authorization by our Board to repurchase up to 56.0 million shares of our common stock, we have cumulatively repurchased 52.9 million shares at a total cost of $1,692.7 million through October 1, 2019, including 0.3 million shares at a cost of $11.4 million repurchased during the third quarter of fiscal 2019. Repurchased common stock is reflected as a reduction of stockholders’ equity in treasury stock. ​ 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. We make the determination to repurchase shares based on several factors, including current and forecasted operating cash flows, capital needs associated with new restaurant development and maintenance of existing locations, dividend payments, debt levels and cost of borrowing, obligations associated with the Acquisitions, our share price and current market conditions. (See Note 12 for further discussion of the acquisitions.) The timing and number of shares repurchased are also subject to legal constraints and financial covenants under the New Facility that limit share repurchases based on a defined ratio. (See Note 6 for further discussion of our long-term debt.) Our objectives regarding 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	9 Months Ended
	Oct. 01, 2019
Stock-Based Compensation
Stock-Based Compensation	9. Stock-Based Compensation ​ On April 5, 2017, our Board approved an amendment to our 2010 Stock Incentive Plan to increase the number of shares of common stock available for grant under the plan to 12.7 million shares from 9.2 million shares. This amendment was approved by our stockholders at our annual meeting held on June 8, 2017. On April 4, 2019, our Board adopted The Cheesecake Factory Incorporated Stock Incentive Plan. This plan was approved by our stockholders at our annual meeting held on May 30, 2019. The maximum number of shares of common stock available for grant under this plan is 4.8 million shares plus 1.8 million shares, which, as of May 30, 2019, were available for issuance under our 2010 Stock Incentive Plan plus 1.9 million shares which may become available for issuance under The Cheesecake Factory Incorporated Stock Incentive Plan due to forfeiture or lapse of awards under our 2010 Stock Incentive Plan following May 30, 2019. ​ The following table presents information related to stock-based compensation, net of forfeitures (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Labor expenses ​ $ 1,742 ​ $ (129) ​ $ 5,184 ​ $ 4,046 Other operating costs and expenses ​ 68 ​ 110 ​ 204 ​ 220 General and administrative expenses ​ 2,837 ​ 4,751 ​ 9,747 ​ 11,541 Total stock-based compensation ​ 4,647 ​ 4,732 ​ 15,135 ​ 15,807 Income tax benefit ​ 1,141 ​ 1,180 ​ 3,719 ​ 3,944 Total stock-based compensation, net of taxes ​ $ 3,506 ​ $ 3,552 ​ $ 11,416 ​ $ 11,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized stock-based compensation (1) ​ $ 52 ​ $ 71 ​ $ 166 ​ $ 209 (1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations 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 third quarters of fiscal 2019 or fiscal 2018. Stock option activity during the thirty-nine weeks ended October 1, 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ ​ ​ Average ​ Contractual ​ Aggregate ​ ​ Shares ​ Exercise Price ​ Term ​ Intrinsic Value (1) ​ ​ (In thousands) ​ (Per share) ​ (In years) ​ (In thousands) Outstanding at January 1, 2019 1,799 ​ $ 45.03 4.1 ​ $ 5,606 Granted 300 ​ 46.03 ​ ​ ​ ​ ​ Exercised (219) ​ 29.81 ​ ​ ​ ​ ​ Forfeited or cancelled (17) ​ 48.38 ​ ​ ​ ​ ​ Outstanding at October 1, 2019 1,863 ​ $ 46.95 4.4 ​ $ 1,993 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at October 1, 2019 1,028 ​ $ 45.37 2.9 ​ $ 1,993 (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 pre-tax 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 thirty-nine weeks ended October 1, 2019 was $0.1 million and $3.7 million, respectively. The total intrinsic value of options exercised during the thirteen and thirty-nine weeks ended October 2, 2018 was $0.8 million and $5.5 million, respectively. As of October 1, 2019, total unrecognized stock-based compensation expense related to unvested stock options was $7.7 million, which we expect to recognize over a weighted average period of approximately 3.3 years. ​ Restricted Shares and Restricted Share Units ​ Restricted share and restricted share unit activity during the thirty-nine weeks ended October 1, 2019 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ Shares Fair Value ​ ​ (In thousands) ​ (Per share) Outstanding at January 1, 2019 1,702 ​ $ 48.08 Granted 453 ​ 45.80 Vested (317) ​ 45.16 Forfeited (82) ​ 48.05 Outstanding at October 1, 2019 1,756 ​ $ 48.01 ​ 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 for restricted shares and restricted share units issued during the third quarter of fiscal 2019 and fiscal 2018 was $44.24 and $50.15, respectively. The fair value of shares that vested during the thirteen weeks and thirty-nine weeks ended October 1, 2019 was $1.9 million and $14.3 million, respectively. The fair value of shares that vested during the thirteen weeks and thirty-nine weeks ended October 2, 2018 was $3.0 million and $14.8 million, respectively. As of October 1, 2019, total unrecognized stock-based compensation expense related to unvested restricted shares and restricted share units was $39.9 million, which we expect to recognize over a weighted average period of approximately 3.6 years.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Oct. 01, 2019
Net Income Per Share
Net Income Per Share	10. Net Income Per Share ​ Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of October 1, 2019 and October 2, 2018, 1.8 million shares and 1.7 million shares, respectively, of restricted stock issued to staff members were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Shares of common stock equivalents of 2.1 million and 1.3 million as of October 1, 2019 and October 2, 2018, respectively, were excluded from the diluted calculation due to their anti-dilutive effect. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ (In thousands, except per share data) Net income ​ $ 16,090 ​ $ 28,475 ​ $ 78,584 ​ $ 82,857 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ 43,682 ​ 45,321 ​ 44,034 ​ 45,418 Dilutive effect of equity awards ​ 504 ​ 1,047 ​ 609 ​ 982 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted weighted average shares outstanding ​ 44,186 ​ 46,368 ​ 44,643 ​ 46,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 0.37 ​ $ 0.63 ​ $ 1.78 ​ $ 1.82 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income per share ​ $ 0.36 ​ $ 0.61 ​ $ 1.76 ​ $ 1.79 ​

Segment Information

Segment Information	9 Months Ended
	Oct. 01, 2019
Segment Information
Segment Information	11. Segment Information ​ For decision-making purposes, our management reviews discrete financial information for The Cheesecake Factory, Grand Lux Cafe, RockSugar Southeast Asian Kitchen and Social Monk Asian Kitchen restaurants, our bakery division, consumer packaged goods and 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. The other segments noted above 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 ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 536,101 ​ $ 524,846 ​ $ 1,636,253 ​ $ 1,596,561 Other ​ 50,435 ​ 50,314 ​ 152,409 ​ 150,615 Total ​ $ 586,536 ​ $ 575,160 ​ $ 1,788,662 ​ $ 1,747,176 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income/(loss) from operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants (1) ​ $ 59,664 ​ $ 63,013 ​ $ 189,897 ​ $ 193,955 Other ​ 4,388 ​ 3,495 ​ 15,416 ​ 14,353 Corporate ​ (37,088) ​ (33,013) ​ (108,102) ​ (108,719) Total ​ $ 26,964 ​ $ 33,495 ​ $ 97,211 ​ $ 99,589 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 17,728 ​ $ 20,116 ​ $ 53,340 ​ $ 60,452 Other ​ ​ 2,410 ​ ​ 2,798 ​ ​ 7,270 ​ ​ 7,666 Corporate ​ ​ 1,204 ​ ​ 1,176 ​ ​ 3,753 ​ ​ 3,701 Total ​ $ 21,342 ​ $ 24,090 ​ $ 64,363 ​ $ 71,819 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 16,149 ​ $ 20,375 ​ $ 42,880 ​ $ 50,537 Other (2) ​ 642 ​ 5,718 ​ 2,185 ​ 25,668 Corporate ​ 540 ​ 753 ​ 1,637 ​ 2,511 Total ​ $ 17,331 ​ $ 26,846 ​ $ 46,702 ​ $ 78,716 ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2019 January 1, 2019 Total assets: ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 1,888,948 ​ $ 928,345 Other ​ 226,098 ​ 164,972 Corporate ​ 266,724 ​ 220,816 Total ​ $ 2,381,770 ​ $ 1,314,133 (1) The thirteen and thirty-nine weeks ended October 2, 2018 include $0.3 million and $2.8 million of lease termination costs related to the closure of one The Cheesecake Factory restaurant. (2) The thirteen and thirty-nine weeks ended October 2, 2018 include costs related to an infrastructure modernization of our California bakery facility.

Subsequent Events

Subsequent Events	9 Months Ended
	Oct. 01, 2019
Subsequent Events
Subsequent Events	12. Subsequent Events ​ Dividend ​ On October 23, 2019, our Board declared a quarterly cash dividend of $0.36 per share to be paid on November 26, 2019 to the stockholders of record at the close of business on November 12, 2019. ​ North Italia and Fox Restaurant Concepts LLC (“FRC”) Acquisitions ​ On October 2, 2019 (the “Closing Date” or “Closing”), we completed the acquisition of North Italia (the “North Italia Acquisition”) and the remaining business of Fox Restaurant Concepts LLC (the “FRC Acquisition”), including Flower Child and all other FRC brands (the “FRC Acquisition” and together with the North Italia Acquisition, the “Acquisitions”). North Italia is a restaurant company that operated 21 locations across ten states and Washington D.C. as of the Closing Date. FRC is a multi-concept restaurant company that operated 10 concepts with 47 locations across eight states and Washington D.C. as of the Closing Date. We have concluded that the Acquisitions represent a single business combination of related businesses under common control within the scope of ASC Topic 805, “Business Combinations”. The acquisition date was determined to be the Closing Date, which was the date we obtained control by legally transferring the consideration for the remaining ownership interests, acquiring the assets and assuming the liabilities of North Italia and the remaining FRC business. The Acquisitions, which we expect will accelerate and diversify our revenue growth, were completed for consideration consisting of the following components: $286 million in cash at Closing, which was primarily funded by drawing on the New Facility; assumption of $10 million in debt previously owed by FRC to us; $45 million of deferred consideration due ratably over the next four years (including a $13 million indemnity escrow amount specifically related to the FRC Acquisition); and a $12 million indemnity escrow amount specifically related to the North Italia Acquisition due ratably over the next two years. Additionally, included in consideration are the acquisition-date fair values of contingent consideration and our previously held equity interests in North Italia and Flower Child. The provision for contingent consideration is payable on the fifth anniversary of the Closing Date and is based on achievement of revenue and profitability targets for the FRC brands other than North Italia and Flower Child with considerations made in the event we undergo a change in control or divest any FRC brand (other than North Italia and Flower Child) during the five years after Closing. We are also required to provide financing to FRC in an amount sufficient to support achievement of these targets during the five years after Closing. During the third quarter of fiscal 2019, we incurred $3.2 million of costs to effect the Acquisitions, which have been expensed in accordance with ASC 805 and are included in general and administrative expenses in the accompanying condensed consolidated statement of operations. We have excluded the disclosure of purchase accounting and supplemental pro forma financial information required under ASC 805 for a public business entity. Disclosure of such information has been deemed impracticable by management due primarily to the short timeframe we have had to obtain the necessary information from the acquired company (not a public business entity), apply various valuation methodologies and prepare the information for this filing. The purchase accounting and related disclosures will be included in the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2019 and finalized within the one-year measurement period permitted under ASC 805.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 01, 2019
Significant Accounting Policies
Basis of Presentation	Basis of Presentation ​ 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”) and are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany accounts and transactions for the periods presented have been eliminated in consolidation. 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 that may be achieved 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 January 1, 2019 filed with the SEC on March 4, 2019 (“fiscal 2018 10-K”). ​ We utilize a 52/53-week fiscal year ending on the Tuesday closest to December 31 for financial reporting purposes. Fiscal 2019 consists of 52 weeks and will end on December 31, 2019. Fiscal 2018, which ended on January 1, 2019, was also a 52-week year. ​ Beginning with our fiscal 2018 10-K, we separately disclosed our investments in unconsolidated affiliates on the consolidated balance sheet and our related share of losses on the consolidated statement of income and statement of cash flow. Corresponding balances for the thirteen and thirty-nine weeks ended October 1, 2018 were reclassified to conform to the current presentation. ​ Beginning with our fiscal 2018 10-K, we corrected an error in our consolidated statements of income by reclassifying complimentary meals out of revenue and other operating expenses. We also reclassified the associated cost of complimentary meals from other operating expenses to cost of sales and labor. The reclassifications had no impact on previously reported income from operations or net income. Corresponding balances for the first three fiscal quarters of 2018 were reclassified to conform to the current presentation. ​
Use of Estimates	Use of Estimates ​ 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. ​
Recent Accounting Pronouncements	Recent Accounting Pronouncements ​ We adopted FASB Accounting Standards Codification (“ASC”) Topic 842, “Leases,” as of January 2, 2019, using the alternative transition method and recorded a cumulative effect adjustment to beginning retained earnings without restating prior periods. We elected the package of practical expedients which allowed us to carry forward our historical lease classification, our assessment of whether a contract is or contains a lease and our initial direct costs for any leases that existed prior to adoption of the new standard. In addition, we elected the hindsight practical expedient, which lengthened the lease term for certain of our leases to include renewal options, and the short-term lease exclusion. Adoption of the new standard resulted in the recognition of operating lease assets and liabilities of $975.1 million and $1,045.4 million, respectively, and a reduction to retained earnings of $41.5 million, net of tax. All prior lease-related balances of $39.2 million of prepaid rent, $140.2 million in property and equipment, net, $6.2 million of intangible assets, net, $82.1 million of deferred rent liabilities and $118.7 million of deemed landlord financing have been reclassified into operating lease assets or eliminated upon ASC 842 adoption.
Leases	Leases ​ We currently lease all our restaurant locations, generally with initial terms of 20 years plus two five-year renewal options. Our leases typically require contingent rent above the minimum base rent payments based on a percentage of revenues, have escalating minimum rent requirements over the term of the lease and require payment for various expenses incidental to the use of the property. A majority of our leases provide for a reduced level of overall rent obligation should specified co-tenancy requirements not be satisfied. We expend cash for leasehold improvements and furniture, fixtures, and equipment to build out and equip our leased premises. We may also expend cash for structural additions that we make to leased premises. Generally, a portion of the leasehold improvements and building costs are reimbursed to us by our landlords as construction contributions. If obtained, landlord construction contributions usually take the form of up-front cash, full or partial credits against our future minimum or percentage rents, or a combination thereof. We do not meet any of the accounting criteria for being the owner of the asset under construction. Many of our leases provide early termination rights permitting us to terminate the lease prior to expiration in the event our revenues are below a stated level for a period of time, generally conditioned upon repayment of the unamortized landlord contributions. ​ In addition to leases for our restaurant locations, we also lease automobiles and certain equipment that is used in the restaurants, bakeries and corporate office. The automobile leases are the only non-real estate leases included in our operating lease assets and liabilities. All other leases are immaterial or qualify for the short-term lease exclusion. ​ The assessment of whether a contract is or contains a lease is performed at contract inception. A lease is defined as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined as having both the right to obtain substantially all the economic benefits from the use of the asset and to direct how and for what purpose the asset is used. ​ At lease commencement, we evaluate each lease to determine its appropriate classification as an operating or finance lease. All our restaurant and automobile leases are classified as operating leases. For restaurant leases existing at transition, we will continue to apply our historical practice of excluding executory costs, and only minimum base rent will be factored into the initial operating lease liability and corresponding lease asset. For restaurant leases beginning after adoption of ASC 842, we have elected the single lease component practical expedient. Operating lease assets and liabilities are recorded on the balance sheet at lease commencement based on the present value of minimum base rent and other fixed payments over the reasonably certain lease term. The difference between the amounts we expend for structural costs and the construction contributions received from our landlords is recorded as an adjustment to the operating lease asset. Lease terms include the build-out period for our leases where no rent payments are typically due under the terms of the lease, as well as options to renew when we deem we have significant economic incentive to exercise the extension. When determining if we have a significant economic incentive, we consider relevant factors, such as contractual, asset, entity and market-based considerations. Option periods are included in the lease term for the majority of our leases. Termination rights have not been factored into the lease terms since based on our probability assessment we are reasonably certain we will not terminate our leases. ​ We cannot determine the interest rate implicit in our leases because we do not have access to the lessor's estimated residual value or the amount of the lessor's deferred initial direct costs. Therefore, we use our incremental borrowing rate as the discount rate for our leases. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because we do not generally borrow on a collateralized basis, we derive an appropriate incremental borrowing rate using the interest rate we pay on our non-collateralized borrowings, adjusted for the amount of the lease payments, the lease term and the effect of designating specific collateral with a value equal to the unpaid lease payments for that lease. We apply the incremental borrowing rate on a portfolio basis given the impact of applying it on a lease by lease basis would be immaterial . ​ We monitor for events or changes in circumstances that require reassessment of our leases. When a reassessment results in the re-measurement of a lease liability, a corresponding adjustment is made to the carrying amount of the operating lease asset. We also assess the potential impairment of our operating lease assets under long-lived asset impairment guidance in ASC 360. ​ Rent expense included in our operating lease assets is recognized on a straight-line basis. Contingent rent expense is recorded as incurred to the extent it exceeds minimum base rent per the lease agreement. Other variable rent expense is recognized as incurred. The reasonably certain lease term and the incremental borrowing rate for each restaurant location require judgment by management and can impact the classification and accounting for a lease as operating or finance, as well as the value of the operating lease asset and liability. These judgments may produce materially different amounts of rent expense than would be reported if different assumptions were used. ​

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 01, 2019
Inventories
Schedule of inventories	Inventories consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2019 January 1, 2019 Restaurant food and supplies ​ $ 20,102 ​ $ 18,362 Bakery finished goods and work in progress ​ 21,679 ​ 13,845 Bakery raw materials and supplies ​ 5,997 ​ 6,679 Total ​ $ 47,778 ​ $ 38,886

Gift Cards (Tables)

Gift Cards (Tables)	9 Months Ended
	Oct. 01, 2019
Gift Cards
Schedule of gift card liabilities	The following tables present information related to gift cards (in thousands): ​ Gift card liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 142,361 ​ $ 133,617 ​ $ 172,336 ​ $ 163,951 Activations ​ 21,577 ​ 20,559 ​ 70,949 ​ 70,754 Redemptions and breakage ​ (28,372) ​ (28,834) ​ (107,719) ​ (109,363) Ending balance ​ $ 135,566 ​ $ 125,342 ​ $ 135,566 ​ $ 125,342 ​
Schedule of gift card contract assets	The following tables present information related to gift cards (in thousands): Gift card contract assets: (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 20,092 ​ $ 20,619 ​ $ 23,388 ​ $ 23,814 Deferrals ​ 2,929 ​ 2,500 ​ 8,993 ​ 8,902 Amortization ​ (4,689) ​ (4,756) ​ (14,049) ​ (14,353) Ending balance ​ $ 18,332 ​ $ 18,363 ​ $ 18,332 ​ $ 18,363 (1) Included in prepaid expenses on the condensed consolidated balance sheets.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Oct. 01, 2019
Other Assets
Schedule of other assets	Other assets consisted of (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1,2019 January 1,2019 Executive Savings Plan trust assets ​ $ 66,869 ​ $ 57,605 Loans receivable from unconsolidated affiliates ​ 22,500 ​ — Deposits ​ 5,485 ​ 5,489 Deferred income taxes ​ 4,095 ​ 1,597 Total ​ $ 98,949 ​ $ 64,691

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 01, 2019
Leases
Components for lease expense	​ Components of lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Thirty-Nine ​ ​ October 1, 2019 ​ October 1, 2019 Operating ​ $ 26,270 ​ $ 77,875 Variable ​ 15,768 ​ 48,529 Short-term ​ 81 ​ 234 Total ​ $ 42,119 ​ $ 126,638 ​ Rent expense on all operating leases (under ASC 840) was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Thirty-Nine ​ ​ October 2, 2018 ​ October 2, 2018 Straight-lined minimum base rent ​ $ 21,078 ​ $ 62,051 Contingent rent ​ 4,980 ​ 15,187 Common area maintenance and taxes ​ 10,110 ​ 29,948 Total ​ $ 36,168 ​ $ 107,186 ​
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases (in thousands, except percentages): ​ ​ ​ ​ ​ ​ ​ Thirty-Nine ​ ​ ​ October 1, 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 73,163 ​ Right-of-use assets obtained in exchange for new operating lease liabilities ​ ​ 35,271 ​ Weighted-average remaining lease term — operating leases (in years) ​ 17.1 ​ Weighted-average discount rate — operating leases ​ ​ 5.3 %
Maturity of operating lease liabilities	As of October 1, 2019, the maturities of our operating lease liabilities are as follows (in thousands): ​ ​ ​ ​ ​ 2019 $ 18,474 2020 ​ ​ 100,442 2021 ​ ​ 98,794 2022 ​ ​ 97,528 2023 ​ ​ 96,003 Thereafter ​ ​ 1,230,956 Total future lease payments ​ $ 1,642,197 Less: Interest ​ 592,538 Present value of lease liabilities ​ $ 1,049,659 ​ As of January 1, 2019, the aggregate minimum annual lease payments under operating leases (under ASC 840), including amounts characterized as deemed landlord financing payments, were as follows (in thousands): ​ ​ ​ ​ ​ 2019 $ 93,792 2020 ​ 91,808 2021 ​ 88,829 2022 ​ 86,925 2023 ​ 81,929 Thereafter ​ 495,091 Total ​ $ 938,374

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 01, 2019
Stock-Based Compensation
Schedule of information related to stock-based compensation, net of forfeitures	The following table presents information related to stock-based compensation, net of forfeitures (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Labor expenses ​ $ 1,742 ​ $ (129) ​ $ 5,184 ​ $ 4,046 Other operating costs and expenses ​ 68 ​ 110 ​ 204 ​ 220 General and administrative expenses ​ 2,837 ​ 4,751 ​ 9,747 ​ 11,541 Total stock-based compensation ​ 4,647 ​ 4,732 ​ 15,135 ​ 15,807 Income tax benefit ​ 1,141 ​ 1,180 ​ 3,719 ​ 3,944 Total stock-based compensation, net of taxes ​ $ 3,506 ​ $ 3,552 ​ $ 11,416 ​ $ 11,863 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized stock-based compensation (1) ​ $ 52 ​ $ 71 ​ $ 166 ​ $ 209 (1) It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations 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	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ ​ ​ Average ​ Contractual ​ Aggregate ​ ​ Shares ​ Exercise Price ​ Term ​ Intrinsic Value (1) ​ ​ (In thousands) ​ (Per share) ​ (In years) ​ (In thousands) Outstanding at January 1, 2019 1,799 ​ $ 45.03 4.1 ​ $ 5,606 Granted 300 ​ 46.03 ​ ​ ​ ​ ​ Exercised (219) ​ 29.81 ​ ​ ​ ​ ​ Forfeited or cancelled (17) ​ 48.38 ​ ​ ​ ​ ​ Outstanding at October 1, 2019 1,863 ​ $ 46.95 4.4 ​ $ 1,993 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercisable at October 1, 2019 1,028 ​ $ 45.37 2.9 ​ $ 1,993 (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 pre-tax 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	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ Shares Fair Value ​ ​ (In thousands) ​ (Per share) Outstanding at January 1, 2019 1,702 ​ $ 48.08 Granted 453 ​ 45.80 Vested (317) ​ 45.16 Forfeited (82) ​ 48.05 Outstanding at October 1, 2019 1,756 ​ $ 48.01 ​

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Oct. 01, 2019
Net Income Per Share
Schedule of basic and diluted income per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 ​ ​ (In thousands, except per share data) Net income ​ $ 16,090 ​ $ 28,475 ​ $ 78,584 ​ $ 82,857 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares outstanding ​ 43,682 ​ 45,321 ​ 44,034 ​ 45,418 Dilutive effect of equity awards ​ 504 ​ 1,047 ​ 609 ​ 982 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted weighted average shares outstanding ​ 44,186 ​ 46,368 ​ 44,643 ​ 46,400 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic net income per share ​ $ 0.37 ​ $ 0.63 ​ $ 1.78 ​ $ 1.82 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted net income per share ​ $ 0.36 ​ $ 0.61 ​ $ 1.76 ​ $ 1.79

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 01, 2019
Segment Information
Schedule of segment information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen ​ Thirteen ​ Thirty-Nine ​ Thirty-Nine ​ ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ Weeks Ended ​ October 1, 2019 October 2, 2018 October 1, 2019 October 2, 2018 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 536,101 ​ $ 524,846 ​ $ 1,636,253 ​ $ 1,596,561 Other ​ 50,435 ​ 50,314 ​ 152,409 ​ 150,615 Total ​ $ 586,536 ​ $ 575,160 ​ $ 1,788,662 ​ $ 1,747,176 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income/(loss) from operations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants (1) ​ $ 59,664 ​ $ 63,013 ​ $ 189,897 ​ $ 193,955 Other ​ 4,388 ​ 3,495 ​ 15,416 ​ 14,353 Corporate ​ (37,088) ​ (33,013) ​ (108,102) ​ (108,719) Total ​ $ 26,964 ​ $ 33,495 ​ $ 97,211 ​ $ 99,589 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 17,728 ​ $ 20,116 ​ $ 53,340 ​ $ 60,452 Other ​ ​ 2,410 ​ ​ 2,798 ​ ​ 7,270 ​ ​ 7,666 Corporate ​ ​ 1,204 ​ ​ 1,176 ​ ​ 3,753 ​ ​ 3,701 Total ​ $ 21,342 ​ $ 24,090 ​ $ 64,363 ​ $ 71,819 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 16,149 ​ $ 20,375 ​ $ 42,880 ​ $ 50,537 Other (2) ​ 642 ​ 5,718 ​ 2,185 ​ 25,668 Corporate ​ 540 ​ 753 ​ 1,637 ​ 2,511 Total ​ $ 17,331 ​ $ 26,846 ​ $ 46,702 ​ $ 78,716 ​ ​ ​ ​ ​ ​ ​ ​ ​ October 1, 2019 January 1, 2019 Total assets: ​ ​ ​ ​ ​ ​ The Cheesecake Factory restaurants ​ $ 1,888,948 ​ $ 928,345 Other ​ 226,098 ​ 164,972 Corporate ​ 266,724 ​ 220,816 Total ​ $ 2,381,770 ​ $ 1,314,133 (1) The thirteen and thirty-nine weeks ended October 2, 2018 include $0.3 million and $2.8 million of lease termination costs related to the closure of one The Cheesecake Factory restaurant. (2) The thirteen and thirty-nine weeks ended October 2, 2018 include costs related to an infrastructure modernization of our California bakery facility.

Significant Accounting Polici_3

Significant Accounting Policies - Basis of Presentation (Details)	9 Months Ended	12 Months Ended
	Oct. 01, 2019	Jan. 01, 2019
Significant Accounting Policies
Length of fiscal year	364 days	364 days

Significant Accounting Polici_4

Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 01, 2019	Jan. 01, 2019
Recent Accounting Pronouncements
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	true
Operating lease assets	$ 984,838
Operating lease liabilities	1,049,659
Prepaid rent		$ 34,961
Property and equipment, net	759,243	913,275
Intangible assets, net	20,271	26,209
Deferred rent liabilities		79,697
Deemed landlord financing liabilities		$ 113,095
ASU 2016-02
Recent Accounting Pronouncements
Operating lease assets	975,100
Operating lease liabilities	1,045,400
Reduction to retained earnings due to adoption of new accounting standards	41,500
Prepaid rent	(39,200)
Property and equipment, net	(140,200)
Intangible assets, net	(6,200)
Deferred rent liabilities	(82,100)
Deemed landlord financing liabilities	$ (118,700)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 01, 2019	Jan. 01, 2019
Inventories
Restaurant food and supplies	$ 20,102	$ 18,362
Bakery finished goods and work in progress	21,679	13,845
Bakery raw materials and supplies	5,997	6,679
Total	$ 47,778	$ 38,886

Gift Cards (Details)

Gift Cards (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018
Gift card liabilities:
Beginning balance	$ 142,361	$ 133,617	$ 172,336	$ 163,951
Activations	21,577	20,559	70,949	70,754
Redemptions and breakage	(28,372)	(28,834)	(107,719)	(109,363)
Ending balance	135,566	125,342	135,566	125,342
Gift card contract assets:
Beginning balance	20,092	20,619	23,388	23,814
Deferrals	2,929	2,500	8,993	8,902
Amortization	(4,689)	(4,756)	(14,049)	(14,353)
Ending balance	$ 18,332	$ 18,363	$ 18,332	$ 18,363

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Oct. 01, 2019	Jan. 01, 2019
Other Assets
Executive Savings Plan trust assets	$ 66,869	$ 57,605
Investments in unconsolidated affiliates	22,500
Deposits	5,485	5,489
Deferred income taxes	4,095	1,597
Total	$ 98,949	$ 64,691

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018
Leases
Operating	$ 26,270		$ 77,875
Variable	15,768		48,529
Short-term	81		234
Total	$ 42,119		126,638
Rent expense
Straight-lined minimum base rent		$ 21,078		$ 62,051
Contingent rent		4,980		15,187
Common area maintenance and taxes		10,110		29,948
Total		$ 36,168		$ 107,186
Lessee Operating Lease Description
Cash paid for amounts included in the measurement of lease liabilities-Operating cash flows from operating leases			73,163
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability			$ 35,271
Weighted-average remaining lease term - operating leases (in years)	17 years 1 month 6 days		17 years 1 month 6 days
Weighted-average discount rate - operating leases	5.30%		5.30%

Leases - Maturity of operating

Leases - Maturity of operating lease liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2019	Jan. 01, 2019
Operating Leases
2019	$ 18,474	$ 93,792
2020	100,442	91,808
2021	98,794	88,829
2022	97,528	86,925
2023	96,003	81,929
Thereafter	1,230,956	495,091
Total future lease payments	1,642,197	$ 938,374
Less: Interest	592,538
Present value of lease liabilities	$ 1,049,659

Leases - Operating lease option

Leases - Operating lease options (Details) $ in Thousands	9 Months Ended
	Oct. 01, 2019USD ($)lease	Jan. 01, 2019USD ($)
Operating Leases
Number of leases executed	5
Initial term of leases, Restaurant locations	20 years
Number of renewal options	2
Renewal term of leases, Restaurant locations	5 years
Number of leases commenced	4
Number of leases that have been executed but have not yet commenced	1
Undiscounted fixed payments | $	$ 1,642,197	$ 938,374
Three Lease Options
Operating Leases
Initial term of leases, Restaurant locations	20 years
Number of renewal options	2
Renewal term of leases, Restaurant locations	5 years
One lease option with term of 10 years
Operating Leases
Initial term of leases, Restaurant locations	10 years
Number of renewal options	4
Renewal term of leases, Restaurant locations	5 years
One lease option with term of 20 years
Operating Leases
Initial term of leases, Restaurant locations	20 years
Undiscounted fixed payments | $	$ 14,100
Leases commenced with term 20 years tenure
Operating Leases
Number of leases commenced	2
Leases commenced with term 30 years tenure
Operating Leases
Number of leases commenced	2

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Millions	Jul. 30, 2019USD ($)	Oct. 01, 2019USD ($)
Long-Term Debt
Available borrowings		$ 45.6
Outstanding borrowings		335
Outstanding letters of credit		$ 19.4
Net Adjusted Leverage Ratio		3.3
EBITDAR Ratio		2.5
New Facility
Long-Term Debt
Maximum commitments	$ 400
Maximum commitments, letter of credit sub-facility	40
Additional available credit	$ 200
New Facility | Maximum
Long-Term Debt
Financial covenant, Net Adjusted Leverage Ratio	4.75
New Facility | Minimum
Long-Term Debt
Financial covenant, EBITDAR Ratio	1.9
New Facility | Federal Reserve Bank of New York Rate
Long-Term Debt
Credit facility, floating interest rate basis	Federal Reserve Bank of New York Rate
Credit facility, basis spread on variable rate, (as a percent)	0.50%
New Facility | One-month Adjusted LIBO Rate
Long-Term Debt
Credit facility, floating interest rate basis	one-month Adjusted LIBO Rate
Credit facility, basis spread on variable rate, (as a percent)	1.00%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jul. 07, 2018item	Jun. 22, 2018USD ($)	Jun. 07, 2018USD ($)
Commitments and Contingencies
Number of restaurants receiving janitorial services | item	8
Wage citation			$ 4.2
Internal Revenue Service
Commitments and Contingencies
Tax disallowance		$ 8

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 27, 2019	Jul. 25, 2019	Oct. 01, 2019	Jul. 02, 2019	Apr. 02, 2019	Oct. 02, 2018	Jul. 03, 2018	Apr. 03, 2018	Jan. 01, 2019
Stockholders Equity
Cash dividends declared per common share (in dollars per share)		$ 0.36	$ 0.36	$ 0.33	$ 0.33	$ 0.33	$ 0.29	$ 0.29
Cash dividends paid per common share (in dollars per share)	$ 0.36
Repurchased shares since program inception			52,906,744						51,791,941
Value of shares repurchased since program inception			$ 1,692,701						$ 1,642,140
Treasury stock repurchased during period			$ 11,397	$ 28,093	$ 11,071	$ 18,864	$ 7,126	$ 34,903
Treasury Stock
Stockholders Equity
Number of shares authorized to be repurchased			56,000,000
Repurchased shares since program inception			52,900,000
Value of shares repurchased since program inception			$ 1,692,700
Shares repurchased during period			300,000
Treasury stock repurchased during period			$ 11,400

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - shares shares in Millions	May 30, 2019	Apr. 05, 2017	Apr. 04, 2017
Stock-Based Compensation
Shares authorized for issuance under share-based compensation plan	1.8	12.7	9.2
Shares available for grant	1.9
Maximum
Stock-Based Compensation
Shares authorized for issuance under share-based compensation plan	4.8

Stock-Based Compensation - Net

Stock-Based Compensation - Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018
Stock-Based Compensation
Total stock-based compensation	$ 4,647	$ 4,732	$ 15,135	$ 15,807
Income tax benefit	1,141	1,180	3,719	3,944
Total stock-based compensation, net of taxes	3,506	3,552	11,416	11,863
Capitalized stock-based compensation	52	71	166	209
Labor expenses
Stock-Based Compensation
Total stock-based compensation	1,742	(129)	5,184	4,046
Other operating costs and expenses
Stock-Based Compensation
Total stock-based compensation	68	110	204	220
General and administrative expenses
Stock-Based Compensation
Total stock-based compensation	$ 2,837	$ 4,751	$ 9,747	$ 11,541

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Fair Value (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018	Jan. 01, 2019
Stock Options
Stock option activity, Shares
Outstanding at beginning of year (in shares)			1,799
Granted (in shares)			300
Exercised (in shares)			(219)
Forfeited or cancelled (in shares)			(17)
Outstanding at end of year (in shares)	1,863		1,863		1,799
Exercisable at end of year (in shares)	1,028		1,028
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)			$ 45.03
Granted (in dollars per share)			46.03
Exercised (in dollars per share)			29.81
Forfeited or cancelled (in dollars per share)			48.38
Outstanding at end of year (in dollars per share)	$ 46.95		46.95		$ 45.03
Exercisable at end of year (in dollars per share)	$ 45.37		$ 45.37
Weighted Average Remaining Contractual Term (In years)
Weighted Average Remaining Contractual Term (In years)			4 years 4 months 24 days		4 years 1 month 6 days
Exercisable at end of year (In years)			2 years 10 months 24 days
Aggregate Intrinsic Value
Outstanding at beginning of year			$ 5,606
Outstanding at end of year	$ 1,993		1,993		$ 5,606
Exercisable at end of year	1,993		1,993
Total intrinsic value of options exercised	100	$ 800	3,700	$ 5,500
Unrecognized Stock-based Compensation Expense
Total unrecognized stock-based compensation expenses related to unvested stock options, restricted shares and restricted share units	$ 7,700		$ 7,700
Expected weighted average period for recognition of compensation expense related to unvested stock option			3 years 3 months 18 days
Restricted Shares and Restricted Share Units
Restricted Shares and Restricted Share Units, Shares
Outstanding at beginning of year (in shares)			1,702
Granted (in shares)			453
Vested (in shares)			(317)
Forfeited (in shares)			(82)
Outstanding at end of year (in shares)	1,756		1,756		1,702
Fair value of shares vested	$ 1,900	$ 3,000	$ 14,300	$ 14,800
Weighted Average Fair Value
Outstanding at beginning of year (in dollars per share)			$ 48.08
Granted (in dollars per share)	$ 44.24	$ 50.15	45.80
Vested (in dollars per share)			45.16
Forfeited (in dollars per share)			48.05
Outstanding at end of year (in dollars per share)	$ 48.01		$ 48.01		$ 48.08
Unrecognized Stock-based Compensation Expense
Total unrecognized stock-based compensation expenses related to unvested stock options, restricted shares and restricted share units	$ 39,900		$ 39,900
Expected weighted average period for recognition of compensation expense related to unvested stock option			3 years 7 months 6 days

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 01, 2019	Jul. 02, 2019	Apr. 02, 2019	Oct. 02, 2018	Jul. 03, 2018	Apr. 03, 2018	Oct. 01, 2019	Oct. 02, 2018
Net Income Per Share
Antidilutive securities excluded from calculation of basic earnings per share (in shares)							2,100	1,300
Net income per share, basic and diluted
Net income	$ 16,090	$ 35,510	$ 26,984	$ 28,475	$ 28,353	$ 26,029	$ 78,584	$ 82,857
Basic weighted average shares outstanding (in shares)	43,682			45,321			44,034	45,418
Dilutive effect of equity awards (in shares)	504			1,047			609	982
Diluted weighted average shares outstanding (in shares)	44,186			46,368			44,643	46,400
Basic net income per share (in dollars per share)	$ 0.37			$ 0.63			$ 1.78	$ 1.82
Diluted net income per share (in dollars per share)	$ 0.36			$ 0.61			$ 1.76	$ 1.79
Restricted Shares and Restricted Share Units
Net Income Per Share
Antidilutive securities excluded from calculation of basic earnings per share (in shares)							1,800	1,700

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 01, 2019	Oct. 02, 2018	Oct. 01, 2019	Oct. 02, 2018	Jan. 01, 2019
Segment Information
Revenues	$ 586,536	$ 575,160	$ 1,788,662	$ 1,747,176
Income/(loss) from operations	26,964	33,495	97,211	99,589
Depreciation and amortization	21,342	24,090	64,363	71,819
Capital expenditures	17,331	26,846	46,702	78,716
Total assets	2,381,770		2,381,770		$ 1,314,133
Lease termination costs		300		2,800
The Cheesecake Factory restaurants
Segment Information
Revenues	536,101	524,846	1,636,253	1,596,561
Income/(loss) from operations	59,664	63,013	189,897	193,955
Depreciation and amortization	17,728	20,116	53,340	60,452
Capital expenditures	16,149	20,375	42,880	50,537
Total assets	1,888,948		1,888,948		928,345
Other
Segment Information
Revenues	50,435	50,314	152,409	150,615
Income/(loss) from operations	4,388	3,495	15,416	14,353
Depreciation and amortization	2,410	2,798	7,270	7,666
Capital expenditures	642	5,718	2,185	25,668
Total assets	226,098		226,098		164,972
Corporate
Segment Information
Income/(loss) from operations	(37,088)	(33,013)	(108,102)	(108,719)
Depreciation and amortization	1,204	1,176	3,753	3,701
Capital expenditures	540	$ 753	1,637	$ 2,511
Total assets	$ 266,724		$ 266,724		$ 220,816

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Nov. 12, 2019	Oct. 23, 2019	Aug. 27, 2019	Jul. 25, 2019	Oct. 01, 2019	Jul. 02, 2019	Apr. 02, 2019	Oct. 02, 2018	Jul. 03, 2018	Apr. 03, 2018
Subsequent Events
Cash dividends declared per common share (in dollars per share)				$ 0.36	$ 0.36	$ 0.33	$ 0.33	$ 0.33	$ 0.29	$ 0.29
Cash dividends paid per common share (in dollars per share)			$ 0.36
Subsequent Events
Subsequent Events
Cash dividends declared per common share (in dollars per share)		$ 0.36
Cash dividends paid per common share (in dollars per share)	$ 0.36

Subsequent Events - FRC Agreeme

Subsequent Events - FRC Agreements (Details) $ in Millions	Oct. 02, 2019USD ($)locationitemstate	Oct. 01, 2019USD ($)	Dec. 31, 2019
FRC Acquisition
FRC Agreements
Total consideration		$ 3.2
Number of years for providing finance to achieve the targets	5 years
FRC Acquisition | Subsequent Events
FRC Agreements
Number of locations | location	47
Number of states | state	8
Number of concept | item	10
Gross consideration payable in cash	$ 286
Amount owed by the acquiree	10
Deferred consideration	45
Amount in escrow account	$ 13
Period of amount deferred	4 years
Acquisition - measurement Period			1 year
North Italia Acquisition | Subsequent Events
FRC Agreements
Number of locations | location	21
Number of states | state	10
Amount in escrow account	$ 12
Period of amount deferred	2 years