XML 46 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly Financial Data (unaudited)
 12 Months Ended
Jan. 01, 2013
Quarterly Financial Data (unaudited)  
Quarterly Financial Data (unaudited)

16.  Quarterly Financial Data (unaudited)

 

Summarized unaudited quarterly financial data for fiscal 2012 and 2011, is as follows (in thousands, except per share data):

 

Quarter Ended:

 

April 3, 2012

 

July 3, 2012(2)

 

October 2, 2012

 

January 1, 2013(3)

 

Revenues

 

$

435,754

 

$

454,749

 

$

453,819

 

$

464,695

 

Income from operations

 

$

30,219

 

$

40,970

 

$

39,324

 

$

28,186

 

Net income

 

$

20,722

 

$

11,733

 

$

27,163

 

$

22,139

 

Basic net income per share (1)

 

$

0.39

 

$

0.53

 

$

0.51

 

$

0.42

 

Diluted net income per share (1)

 

$

0.37

 

$

0.52

 

$

0.49

 

$

0.40

 

Cash dividends declared per common share

 

$

¾

 

$

¾

 

$

0.12

 

$

0.12

 

 

Quarter Ended:

 

March 29, 2011

 

June 28, 2011

 

September 27, 2011

 

January 3, 2012(4)

 

Revenues

 

$

418,765

 

$

430,746

 

$

430,417

 

$

477,696

 

Income from operations

 

$

29,851

 

$

35,162

 

$

30,254

 

$

38,183

 

Net income

 

$

20,456

 

$

24,748

 

$

20,574

 

$

29,942

 

Basic net income per share (1)

 

$

0.35

 

$

0.44

 

$

0.37

 

$

0.55

 

Diluted net income per share (1)

 

$

0.34

 

$

0.42

 

$

0.36

 

$

0.54

 

Cash dividends declared per common share

 

$

¾

 

$

¾

 

$

¾

 

$

¾

 

 

 

(1)         Net income per share calculations for each quarter are based on the weighted average diluted shares outstanding for that quarter and may not total to the full year amount.

(2)         Net income included $419 in proceeds from a variable life insurance contract used to support our ESP.

(3)         Net income included $3,281 in expense for the impairment of the carrying value of one The Cheesecake Factory restaurant.  The pre-tax amount associated with this item was $5,469.  Net income also included $2,440 in expense for partial reimbursement to landlords of tenant improvement allowances and broker fees on three Grand Lux Cafe locations where we are discontinuing operations as of the end of March 2013.  The pre-tax amount associated with this item was $4,067.  (See Note 1 for further discussion of impairment of assets and lease terminations.)

(4)         The quarter ended January 3, 2012 consisted of 14 weeks, while all other quarters presented consisted of 13 weeks.  Net income included $928 in expense for the impairment of the carrying value of two The Cheesecake Factory restaurants and one Grand Lux Cafe.  The pre-tax amount associated with this item was $1,547. (See Note 1 for further discussion of impairment of assets.)  Net income also included $1,506 in income for a partial settlement with the IRS recorded in the fourth quarter of fiscal 2011 as described in Note 13.  The pre-tax amount associated with this item was $719.

 

While seasonal fluctuations do not generally have a material impact on our quarterly results, quarterly results can be significantly impacted by the number and timing of new restaurant openings and their associated preopening costs and operating inefficiencies.  As a result of these factors, our financial results for any quarter are not necessarily indicative of the results that many be achieved for the full fiscal year.