XML 64 R45.htm IDEA: XBRL DOCUMENT
v3.25.4

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of Income before income taxes were as follows:
| 2025 |  | 2024 |  | 2023
Domestic | $ | 18,469 |  |  | $ | (18,247) |  |  | $ | (13,427) |
Foreign | 54,140 |  |  | 32,491 |  |  | 30,407 |
Income before income taxes | $ | 72,609 |  |  | $ | 14,244 |  |  | $ | 16,980 |
Schedule of Components of Income Tax Expense | The components of Income tax expense (benefit) were as follows:
|  |  | 2025 |  | 2024 |  | 2023
Current income taxes: |  |  |  |  |
| State and local | $ | 3,155 |  |  | $ | 554 |  |  | $ | 1,271 |
| Foreign | 3,132 |  |  | 3,924 |  |  | 3,793 |
| Total current income taxes | 6,287 |  |  | 4,478 |  |  | 5,064 |
Deferred income taxes: |  |  |  |  |
| Federal | 10,237 |  |  | (2,731) |  |  | (12,427) |
| State and local | 6,379 |  |  | 1,677 |  |  | 3,353 |
| Total deferred income taxes | 16,616 |  |  | (1,054) |  |  | (9,074) |
Income tax expense (benefit) | $ | 22,903 |  |  | $ | 3,424 |  |  | $ | (4,010) |
Reconciliation of Income Tax Expense, US Income Tax Rate | A reconciliation of Income tax expense (benefit) computed at the U.S. federal statutory income tax rate to the recognized Income tax expense (benefit) and the U.S. statutory income tax rate to our effective tax rate after the adoption of ASU 2023-09 was as follows:
|  | 2025 |  |  |  |
Expected U.S. federal income taxes at statutory rate | $ | 15,248 |  | 21.0 | % |  |  |  |  |  |
State and local income taxes, net of federal benefit (1) | 8,216 |  | 11.3 | % |  |  |  |  |  |
Foreign Tax Effects: |  |  |  |  |  |  |  |
| Foreign withholding taxes | 3,052 |  | 4.2 | % |  |  |  |  |  |
Tax credits: |  |  |  |  |  |  |  |
| Federal employer tip credit | (2,613) |  | (3.6) | % |  |  |  |  |  |
| Other credits | (1,490) |  | (2.1) | % |  |  |  |  |  |
Non-taxable or non-deductible items: |  |  |  |  |  |  |  |
| Non-deductible compensation | 926 |  | 1.3 | % |  |  |  |  |  |
| Equity-based compensation | (1,461) |  | (2.0) | % |  |  |  |  |  |
| Other | 1,341 |  | 1.8 | % |  |  |  |  |  |
Changes in unrecognized tax benefits | 14 |  | — | % |  |  |  |  |  |
Other | (330) |  | (0.4) | % |  |  |  |  |  |
Income tax expense (benefit) | $ | 22,903 |  | 31.5 | % |  |  |  |  |  |
(1)For fiscal 2025, the states and local jurisdictions that contribute to the majority (greater than 50%) of the tax effect in this category include New York State and City. Reconciliations of Income tax expense (benefit) computed at the U.S. federal statutory income tax rate to the recognized Income tax expense (benefit) and the U.S. statutory income tax rate to our effective tax rates before the adoption of ASU 2023-09 were as follows:
|  |  | 2024 |  | 2023
Expected U.S. federal income taxes at statutory rate |  | $ | 2,991 |  | 21.0 | % |  | $ | 3,565 |  | 21.0 | %
State and local income taxes, net of federal benefit |  | 2,166 |  | 15.2 | % |  | 2,090 |  | 12.3 | %
Foreign withholding taxes |  | 3,924 |  | 27.6 | % |  | 3,792 |  | 22.3 | %
Tax credits |  | (7,033) |  | (49.4) | % |  | (7,060) |  | (41.6) | %
Non-controlling interest |  | (166) |  | (1.2) | % |  | (196) |  | (1.2) | %
Non-deductible expenses |  | 2,240 |  | 15.7 | % |  | 1,169 |  | 6.9 | %
Reserve for uncertain tax positions |  | — |  | — | % |  | 154 |  | 0.9 | %
Remeasurement of deferred tax assets in connection with other tax rate changes |  | 392 |  | 2.8 | % |  | 1,547 |  | 9.1 | %
Return to provision adjustment |  | (650) |  | (4.6) | % |  | (519) |  | (3.0) | %
Change in valuation allowance |  | (97) |  | (0.7) | % |  | (9,195) |  | (54.1) | %
Other |  | (343) |  | (2.4) | % |  | 643 |  | 3.8 | %
Income tax expense (benefit) |  | $ | 3,424 |  | 24.0 | % |  | $ | (4,010) |  | (23.6) | %
Schedule of Cash Flow Information | The following table sets forth the total income taxes paid, net of refunds after the adoption of ASU 2023-09:
|  | 2025 |  |  |  |
U.S. state and local: |  |  |  |  |
| New York | $ | 609 |  |  |  |  |
| Tennessee | 282 |  |  |  |  |
| Other | 237 |  |  |  |  |
| Total U.S. state and local | 1,128 |  |  |  |  |
Foreign: |  |  |  |  |
| China | 511 |  |  |  |  |
| Mexico | 327 |  |  |  |  |
| Philippines | 220 |  |  |  |  |
| Singapore | 220 |  |  |  |  |
| South Korea | 737 |  |  |  |  |
| Other | 1,117 |  |  |  |  |
| Total foreign | 3,132 |  |  |  |  |
Total | $ | 4,260 |  |  |  |  |
Before to the adoption of ASU 2023-09, income taxes paid, net of refunds for fiscal 2024 and fiscal 2023 were $6,531 and $4,056, respectively. The following table sets forth supplemental cash flow information:
|  | 2025 |  | 2024 |  | 2023
Cash paid for: |  |  |  |  |
| Income taxes, net of refunds | $ | 4,260 |  |  | $ | 6,531 |  |  | $ | 4,056 |
| Interest, net of amounts capitalized | 820 |  |  | 882 |  |  | 537 |
Non-cash investing activities: |  |  |  |  |
| Accrued purchases of property and equipment | 34,727 |  |  | 19,226 |  |  | 24,999 |
| Capitalized equity-based compensation | 208 |  |  | 217 |  |  | 181 |
Non-cash financing activities: |  |  |  |  |
| Establishment of liabilities under Tax Receivable Agreement | 861 |  |  | 12,121 |  |  | 720 |
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities were as follows:
|  |  | December 31 2025 |  | December 25 2024
Deferred tax assets: |  |  |
| Investment in partnership | $ | 74,094 |  |  | $ | 89,397 |
| Tax Receivable Agreement | 66,053 |  |  | 67,192 |
| Operating lease liability | 6,281 |  |  | 5,264 |
| Financing lease liability | 159 |  |  | 124 |
| Deferred revenue | 251 |  |  | 209 |
| Equity-based compensation | 423 |  |  | 357 |
| Net operating loss carryforwards | 146,137 |  |  | 148,700 |
| Tax credits | 34,731 |  |  | 33,643 |
| Other assets | 1,117 |  |  | 1,772 |
| Total gross deferred tax assets | 329,246 |  |  | 346,658 |
Valuation allowance | (980) |  |  | (260) |
Total deferred tax assets, net of valuation allowance | 328,266 |  |  | 346,398 |
Deferred tax liabilities: |  |  |
| Property and equipment | (652) |  |  | (537) |
| Operating lease right-of-use asset | (5,064) |  |  | (4,147) |
| Financing lease right-of-use asset | (152) |  |  | (119) |
| Other liabilities | (13) |  |  | (9) |
| Total gross deferred tax liabilities | (5,881) |  |  | (4,812) |
Net deferred tax assets | $ | 322,385 |  |  | $ | 341,586 |
Schedule of Unrecognized Tax Benefits Roll Forward |
| 2025 |  | 2024 |  | 2023
Beginning balance | $ | 147 |  |  | $ | 147 |  |  | $ | — |
Additions for tax positions of prior years | — |  |  | — |  |  | 263 |
Settlements | — |  |  | — |  |  | (116) |
Ending balance | $ | 147 |  |  | $ | 147 |  |  | $ | 147 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration