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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 29, 2016
Stock-Based Compensation  
Schedule of information related to stock-based compensation

 

The following table presents information related to stock-based compensation (in thousands):

 

 

 

Thirteen
Weeks Ended
March 29, 2016

 

Thirteen
Weeks Ended
March 31, 2015

 

 

 

 

 

 

 

Labor expenses

 

$

1,256 

 

$

1,546 

 

Other operating costs and expenses

 

50 

 

73 

 

General and administrative expenses

 

3,879 

 

3,112 

 

 

 

 

 

 

 

Total stock-based compensation

 

5,185 

 

4,731 

 

Income tax benefit

 

1,983 

 

1,810 

 

 

 

 

 

 

 

Total stock-based compensation, net of taxes

 

$

3,202 

 

$

2,921 

 

 

 

 

 

 

 

 

 

Capitalized stock-based compensation(1)

 

$

73 

 

$

67 

 

 

(1)

It is our policy to capitalize the portion of stock-based compensation costs for our internal development and construction, legal, and facilities departments that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations, lease, intellectual property and liquor license acquisition activities and equipment installation.  Capitalized stock-based compensation is included in property and equipment, net and other assets on the consolidated balance sheets.

 

Schedule of stock option activity

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Term

 

Aggregate
Intrinsic Value(1)

 

 

 

(In thousands)

 

(Per share)

 

(In years)

 

(In thousands)

 

Outstanding at December 29, 2015

 

3,066

 

$

30.00

 

3.6

 

$

52,416

 

Granted

 

225

 

50.26

 

 

 

 

 

Exercised

 

(556

)

20.95

 

 

 

 

 

Forfeited or cancelled

 

(31

)

40.97

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at March 29, 2016

 

2,704

 

$

33.42

 

4.1

 

$

52,871

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at March 29, 2016

 

1,672

 

$

27.65

 

3.0

 

$

42,326

 

 

(1)

Aggregate intrinsic value is calculated as the difference between our closing stock price at fiscal period end and the exercise price, multiplied by the number of in-the-money options and represents the pretax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date.

 

Schedule of restricted share and restricted share unit activity

 

 

 

Shares

 

Weighted
Average
Fair Value

 

 

 

(In thousands)

 

(Per share)

 

 

 

 

 

 

 

Outstanding at December 29, 2015

 

1,891

 

$

41.31

 

Granted

 

312

 

49.93

 

Vested

 

(250

)

33.79

 

Forfeited

 

(37

)

40.96

 

 

 

 

 

 

 

Outstanding at March 29, 2016

 

1,916

 

$

43.66