Financial reports / The Cheesecake Factory Incorporated | Tables in SEC filings

CAKE The Cheesecake Factory Incorporated

Quarterly report


	October 1,		January 2,
	2024		2024
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	52,215	$	56,290
Accounts and other receivables		74,344		103,094
Income taxes receivable		28,980		20,670
Inventories		69,805		57,654
Prepaid expenses		61,194		63,090
Total current assets		286,538		300,798
Property and equipment, net		829,393		791,093
Other assets:
Intangible assets, net		252,015		251,727
Operating lease assets		1,361,826		1,302,150
Other		206,016		194,615
Total other assets		1,819,857		1,748,492
Total assets	$	2,935,788	$	2,840,383

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	62,663	$	63,152
Gift card liabilities		184,258		222,915
Operating lease liabilities		139,974		134,905
Other accrued expenses		264,998		239,699
Total current liabilities		651,893		660,671

Long-term debt		471,558		470,047
Operating lease liabilities		1,276,951		1,254,955
Other noncurrent liabilities		139,007		136,648
Total liabilities		2,539,409		2,522,321
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; 107,983,084 shares issued and 50,939,646 shares outstanding at October 1, 2024 and 107,195,287 shares issued and 50,652,129 shares outstanding at January 2, 2024		1,080		1,072
Additional paid-in capital		935,093		913,442
Retained earnings		1,290,562		1,216,239
Treasury stock inclusive of excise tax, 57,043,438 and 56,543,158 shares at cost at October 1, 2024 and January 2, 2024, respectively		(1,829,462)		(1,811,997)
Accumulated other comprehensive loss		(894)		(694)
Total stockholders’ equity		396,379		318,062
Total liabilities and stockholders’ equity	$	2,935,788	$	2,840,383


	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	October 1, 2024		October 3, 2023		October 1, 2024		October 3, 2023

Revenues	$	865,471	$	830,210	$	2,660,736	$	2,562,494

Costs and expenses:
Food and beverage costs		195,306		194,733		600,253		602,051
Labor expenses		310,939		301,663		949,151		919,340
Other operating costs and expenses		239,470		229,534		712,108		687,459
General and administrative expenses		56,204		54,209		170,954		162,766
Depreciation and amortization expenses		25,299		22,837		75,015		69,124
Impairment of assets and lease termination (income)/expenses		(3,472)		48		(1,577)		1,637
Acquisition-related contingent consideration, compensation and amortization expenses		1,020		1,414		3,287		3,890
Preopening costs		7,005		6,742		19,860		15,800
Total costs and expenses		831,771		811,180		2,529,051		2,462,067
Income from operations		33,700		19,030		131,685		100,427
Interest and other expense, net		(1,865)		(2,027)		(5,974)		(6,069)
Income before income taxes		31,835		17,003		125,711		94,358
Income tax provision/(benefit)		1,841		(942)		10,082		5,688
Net income	$	29,994	$	17,945	$	115,629	$	88,670

Net income per share:
Basic	$	0.63	$	0.37	$	2.42	$	1.83
Diluted (Note 10)	$	0.61	$	0.37	$	2.37	$	1.80

Weighted-average shares outstanding:
Basic		47,750		48,281		47,734		48,489
Diluted		48,946		48,985		48,751		49,197


	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	October 1, 2024		October 3, 2023		October 1, 2024		October 3, 2023
Gift card contract assets:
Beginning balance	$	16,900	$	17,369	$	19,111	$	19,886
Deferrals		2,119		2,509		7,678		7,823
Amortization		(3,814)		(3,914)		(11,584)		(11,745)
Ending balance	$	15,205	$	15,964	$	15,205	$	15,964


				Total Number of	Maximum Number
				Shares Purchased	of Shares that May
	Total Number			as Part of Publicly	Yet be Purchased
	of Shares	Average Price		Announced Plans	Under the Plans or
Period	Purchased (1)	Paid per Share (2)		or Programs	Programs
July 3 — August 6, 2024	29,164	$	37.35	0	3,953,098
August 7 — September 3, 2024	286		38.36	0	3,952,812
September 4 — October 1, 2024	—		—	—	3,952,812
Total	29,450			0


	January 2, 2024
	Level 1		Level 2		Level 3
Assets/(Liabilities)
Non-qualified deferred compensation assets	$	94,136	$	—	$	—
Non-qualified deferred compensation liabilities		(93,979)		—		—
Acquisition-related contingent consideration and compensation liabilities		—		—		(25,495)

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