XML 26 R17.htm IDEA: XBRL DOCUMENT
v3.19.3

Stock-Based Compensation | 9 Months Ended
--- | ---
Oct. 01, 2019
Stock-Based Compensation |
Stock-Based Compensation | 9. Stock-Based Compensation ​ On April 5, 2017, our Board approved an amendment to our 2010 Stock Incentive Plan to increase the number of shares of common stock available for grant under the plan to 12.7 million shares from 9.2 million shares. This amendment was approved by our stockholders at our annual meeting held on June 8, 2017. On April 4, 2019, our Board adopted The Cheesecake Factory Incorporated Stock Incentive Plan. This plan was approved by our stockholders at our annual meeting held on May 30, 2019. The maximum number of shares of common stock available for grant under this plan is 4.8 million shares plus 1.8 million shares, which, as of May 30, 2019, were available for issuance under our 2010 Stock Incentive Plan plus 1.9 million shares which may become available for issuance under The Cheesecake Factory Incorporated Stock Incentive Plan due to forfeiture or lapse of awards under our 2010 Stock Incentive Plan following May 30, 2019. ​ The following table presents information related to stock-based compensation, net of forfeitures (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirty-Nine | ​ | Thirty-Nine
​ | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended
​ |  | October 1, 2019 |  | October 2, 2018 |  | October 1, 2019 |  | October 2, 2018
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Labor expenses | ​ | $ | 1,742 | ​ | $ | (129) | ​ | $ | 5,184 | ​ | $ | 4,046
Other operating costs and expenses | ​ |  | 68 | ​ |  | 110 | ​ |  | 204 | ​ |  | 220
General and administrative expenses | ​ |  | 2,837 | ​ |  | 4,751 | ​ |  | 9,747 | ​ |  | 11,541
Total stock-based compensation | ​ |  | 4,647 | ​ |  | 4,732 | ​ |  | 15,135 | ​ |  | 15,807
Income tax benefit | ​ |  | 1,141 | ​ |  | 1,180 | ​ |  | 3,719 | ​ |  | 3,944
Total stock-based compensation, net of taxes | ​ | $ | 3,506 | ​ | $ | 3,552 | ​ | $ | 11,416 | ​ | $ | 11,863
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capitalized stock-based compensation (1) | ​ | $ | 52 | ​ | $ | 71 | ​ | $ | 166 | ​ | $ | 209
(1) | It is our policy to capitalize the portion of stock-based compensation costs for our internal development department that relates to capitalizable activities such as the design and construction of new restaurants, remodeling existing locations and equipment installation. Capitalized stock-based compensation is included in property and equipment, net and other assets on the condensed consolidated balance sheets.
​ Stock Options ​ We did not issue any stock options during the third quarters of fiscal 2019 or fiscal 2018. Stock option activity during the thirty-nine weeks ended October 1, 2019 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | Weighted |  | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Remaining | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Contractual | ​ | Aggregate
​ | ​ | Shares | ​ | Exercise Price | ​ | Term | ​ | Intrinsic Value (1)
​ | ​ | (In thousands) | ​ | (Per share) | ​ | (In years) | ​ | (In thousands)
Outstanding at January 1, 2019 |  | 1,799 | ​ | $ | 45.03 |  | 4.1 | ​ | $ | 5,606
Granted |  | 300 | ​ |  | 46.03 | ​ | ​ | ​ | ​ | ​
Exercised |  | (219) | ​ |  | 29.81 | ​ | ​ | ​ | ​ | ​
Forfeited or cancelled |  | (17) | ​ |  | 48.38 | ​ | ​ | ​ | ​ | ​
Outstanding at October 1, 2019 |  | 1,863 | ​ | $ | 46.95 |  | 4.4 | ​ | $ | 1,993
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at October 1, 2019 |  | 1,028 | ​ | $ | 45.37 |  | 2.9 | ​ | $ | 1,993
(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 pre-tax amount that would have been received by the option holders, had they all exercised their options on the fiscal period end date.
​ The total intrinsic value of options exercised during the thirteen and thirty-nine weeks ended October 1, 2019 was $0.1 million and $3.7 million, respectively. The total intrinsic value of options exercised during the thirteen and thirty-nine weeks ended October 2, 2018 was $0.8 million and $5.5 million, respectively. As of October 1, 2019, total unrecognized stock-based compensation expense related to unvested stock options was $7.7 million, which we expect to recognize over a weighted average period of approximately 3.3 years. ​ Restricted Shares and Restricted Share Units ​ Restricted share and restricted share unit activity during the thirty-nine weeks ended October 1, 2019 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ |  | Shares |  | Fair Value
​ | ​ | (In thousands) | ​ | (Per share)
Outstanding at January 1, 2019 |  | 1,702 | ​ | $ | 48.08
Granted |  | 453 | ​ |  | 45.80
Vested |  | (317) | ​ |  | 45.16
Forfeited |  | (82) | ​ |  | 48.05
Outstanding at October 1, 2019 |  | 1,756 | ​ | $ | 48.01
​ Fair value of our restricted shares and restricted share units is based on our closing stock price on the date of grant. The weighted average fair value for restricted shares and restricted share units issued during the third quarter of fiscal 2019 and fiscal 2018 was $44.24 and $50.15, respectively. The fair value of shares that vested during the thirteen weeks and thirty-nine weeks ended October 1, 2019 was $1.9 million and $14.3 million, respectively. The fair value of shares that vested during the thirteen weeks and thirty-nine weeks ended October 2, 2018 was $3.0 million and $14.8 million, respectively. As of October 1, 2019, total unrecognized stock-based compensation expense related to unvested restricted shares and restricted share units was $39.9 million, which we expect to recognize over a weighted average period of approximately 3.6 years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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