XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.20.2

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 29, 2020
Stock-Based Compensation |
Stock-Based Compensation | 12. Stock-Based Compensation ​ On April 4, 2019, our Board adopted The Cheesecake Factory Incorporated Stock Incentive Plan (the “Plan”) under which incentive stock options, non-qualified stock options, stock appreciation rights, restricted shares and restricted share units may be granted to staff members, consultants and non-employee directors. The Plan replaced the 2010 Stock Incentive Plan. ​ The following table presents the stock-based compensation recorded in the consolidated financial statements: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen | ​ | Thirteen | ​ | Thirty-Nine | ​ | Thirty-Nine
​ | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended | ​ | Weeks Ended
​ |  | September 29, 2020 |  | October 1, 2019 |  | September 29, 2020 |  | October 1, 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Labor expenses | ​ | $ | 1,868 | ​ | $ | 1,742 | ​ | $ | 5,761 | ​ | $ | 5,184
Other operating costs and expenses | ​ |  | 70 | ​ |  | 68 | ​ |  | 209 | ​ |  | 204
General and administrative expenses | ​ |  | 2,979 | ​ |  | 2,837 | ​ |  | 9,563 | ​ |  | 9,747
Total stock-based compensation | ​ |  | 4,917 | ​ |  | 4,647 | ​ |  | 15,533 | ​ |  | 15,135
Income tax benefit | ​ |  | 1,208 | ​ |  | 1,141 | ​ |  | 3,815 | ​ |  | 3,719
Total stock-based compensation, net of taxes | ​ | $ | 3,709 | ​ | $ | 3,506 | ​ | $ | 11,718 | ​ | $ | 11,416
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capitalized stock-based compensation (1) | ​ | $ | 52 | ​ | $ | 52 | ​ | $ | 143 | ​ | $ | 166
(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 on the consolidated balance sheets.
​ ​ ​ Stock Options ​ We did not issue any stock options during the third quarter of fiscal 2020 or 2019. Stock option activity during the thirty-nine weeks ended September 29, 2020 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 December 31, 2019 |  | 1,829 | ​ | $ | 47.32 |  | 4.3 | ​ | $ | 844
Granted |  | 654 | ​ |  | 40.16 | ​ | ​ | ​ | ​ | ​
Exercised |  | (4) | ​ |  | 29.79 | ​ | ​ | ​ | ​ | ​
Forfeited or cancelled |  | (118) | ​ |  | 47.15 | ​ | ​ | ​ | ​ | ​
Outstanding at September 29, 2020 |  | 2,361 | ​ | $ | 45.38 |  | 5.1 | ​ | $ | 8,701
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at September 29, 2020 |  | 1,188 | ​ | $ | 46.74 |  | 2.5 | ​ | $ | 4,986
(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.
​ There were no options exercised during the thirteen weeks ended September 29, 2020. The total intrinsic value of options exercised during the thirty-nine weeks ended September 29, 2020 was $35,606. 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. As of September 29, 2020, total unrecognized stock-based compensation expense related to unvested stock options was $7.5 million, which we expect to recognize over a weighted-average period of approximately 3.6 years. ​ Restricted Shares and Restricted Share Units ​ Restricted share and restricted share unit activity during the thirty-nine weeks ended September 29, 2020 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-
​ | ​ | ​ | ​ | Average
​ |  | Shares |  | Fair Value
​ | ​ | (In thousands) | ​ | (Per share)
Outstanding at December 31, 2019 |  | 1,764 | ​ | $ | 47.76
Granted |  | 588 | ​ |  | 39.74
Vested |  | (285) | ​ |  | 49.94
Forfeited |  | (182) | ​ |  | 49.13
Outstanding at September 29, 2020 |  | 1,885 | ​ | $ | 44.79
​ 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 2020 and 2019 was $24.00 and $44.24, respectively. The fair value of shares that vested during the thirteen weeks and thirty-nine weeks ended September 29, 2020 was $1.8 million and $14.2 million, 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. As of September 29, 2020, total unrecognized stock-based compensation expense related to unvested restricted shares and restricted share units was $34.3 million, which we expect to recognize over a weighted-average period of approximately 3.0 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