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Quarterly Financial Data (unaudited) (Tables)
12 Months Ended
Jan. 02, 2018
Quarterly Financial Data (unaudited)  
Summary of quarterly financial data

 

Summarized unaudited quarterly financial data for fiscal 2017 and 2016 is as follows (in thousands, except per share data):

 

Quarter Ended:

 

April 4, 2017

 

July 4, 2017

 

October 3, 2017

 

January 2, 2018

 

Revenues

 

$

563,426

 

$

569,869

 

$

555,392

 

$

571,815

 

Income from operations (1)

 

$

43,563

 

$

50,218

 

$

34,317

 

$

22,747

 

Net income (1)(2)

 

$

35,043

 

$

38,166

 

$

26,445

 

$

57,738

 

Basic net income per share (3)

 

$

0.74

 

$

0.80

 

$

0.57

 

$

1.26

 

Diluted net income per share (3)

 

$

0.71

 

$

0.78

 

$

0.56

 

$

1.24

 

Cash dividends declared per common share

 

$

0.24

 

$

0.24

 

$

0.29

 

$

0.29

 

 

Quarter Ended:

 

March 29, 2016

 

June 28, 2016

 

September 27, 2016

 

January 3, 2017

 

Revenues

 

$

553,693

 

$

558,862

 

$

560,018

 

$

603,146

 

Income from operations (1)

 

$

48,594

 

$

55,190

 

$

50,063

 

$

47,146

 

Net income (1)

 

$

33,954

 

$

38,585

 

$

34,574

 

$

32,381

 

Basic net income per share (3)

 

$

0.70

 

$

0.80

 

$

0.72

 

$

0.68

 

Diluted net income per share (3)

 

$

0.68

 

$

0.78

 

$

0.70

 

$

0.66

 

Cash dividends declared per common share

 

$

0.20

 

$

0.20

 

$

0.24

 

$

0.24

 

 

 

(1)

Income from operations included $0.8 million, $0.4 million and $9.1 million of accelerated depreciation and impairment expense in the first, second and fourth quarters of fiscal 2017, respectively, and $0.1 million of accelerated depreciation expense in the fourth quarter of fiscal 2016. The impact to net income of these items was $0.4 million, $0.3 million, $5.5 million and $0.1 million, respectively. These amounts were recorded in impairment of assets and lease terminations in the consolidated statements of income. (See Note 1 for further discussion of impairment of assets and lease terminations.)

(2)

The fourth quarter of fiscal 2017 includes a $38.5 million benefit to our income tax provision related to the Tax Act. (See Note 14 for further discussion of income taxes.)

(3)

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.