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v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes |
Schedule of provision for income taxes | The provision for income taxes consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal Year
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 171,047 | ​ | $ | 100,014 | ​ | $ | 32,892
Income tax provision/(benefit): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 10,638 | ​ | $ | 7,183 | ​ | $ | 3,520
State | ​ |  | 9,688 | ​ |  | 7,195 | ​ |  | 4,895
Total current | ​ |  | 20,326 | ​ |  | 14,378 | ​ |  | 8,415
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | (7,542) | ​ |  | (15,329) | ​ |  | (17,733)
State | ​ |  | 1,480 | ​ |  | (386) | ​ |  | (913)
Total deferred | ​ |  | (6,062) | ​ |  | (15,715) | ​ |  | (18,646)
Total provision/(benefit) | ​ | $ | 14,264 | ​ | $ | (1,337) | ​ | $ | (10,231)
​
Schedule of reconciles the U.S. federal statutory rate to the effective tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year |
​ |  | 2024 |  | 2023 |  | 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. federal statutory rate |  | 21.0 | % | 21.0 | % | 21.0 | %
State and district income taxes, net of federal benefit |  | 5.0 | ​ | 5.4 | ​ | 8.9 | ​
Credit for FICA taxes paid on tips |  | (16.3) | ​ | (24.9) | ​ | (66.4) | ​
Other credits and incentives |  | (1.0) | ​ | (2.2) | ​ | (10.7) | ​
Deferred compensation |  | (1.6) | ​ | (2.4) | ​ | 9.7 | ​
Equity compensation | ​ | 1.2 | ​ | 1.5 | ​ | 5.5 | ​
Uncertain tax positions | ​ | (0.9) | ​ | (0.7) | ​ | (2.3) | ​
Non-deductible executive compensation | ​ | 1.0 | ​ | 0.8 | ​ | 2.8 | ​
Other |  | (0.1) | ​ | 0.2 | ​ | 0.4 | ​
Effective tax rate |  | 8.3 | % | (1.3) | % | (31.1) | %
Schedule of deferred tax assets and liabilities | Following are the temporary differences that created our deferred tax assets and liabilities (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2024 |  | January 2, 2024
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Staff member benefits | ​ | $ | 40,500 | ​ | $ | 35,932
Insurance reserves | ​ |  | 15,244 | ​ |  | 14,931
Operating lease liability | ​ | ​ | 335,034 | ​ | ​ | 324,587
Deferred income | ​ |  | 39,248 | ​ |  | 38,074
Tax credit carryforwards | ​ |  | 79,933 | ​ |  | 74,004
Goodwill | ​ |  | 21,393 | ​ |  | 22,743
Stock-based compensation | ​ | ​ | 10,788 | ​ | ​ | 10,789
State and foreign net operating loss carryforwards | ​ | ​ | 1,331 | ​ | ​ | 1,640
Other | ​ | ​ | 867 | ​ | ​ | 674
Subtotal | ​ |  | 544,338 | ​ |  | 523,374
Less: Valuation allowance | ​ |  | (601) | ​ |  | (1,444)
Total | ​ | $ | 543,737 | ​ | $ | 521,930
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Property and equipment | ​ | $ | (129,504) | ​ | $ | (121,219)
Prepaid expenses | ​ |  | (8,435) | ​ |  | (8,933)
Inventory | ​ |  | (9,194) | ​ |  | (8,882)
Accrued rent | ​ | ​ | (5,867) | ​ | ​ | (5,889)
Operating lease asset | ​ | ​ | (291,991) | ​ | ​ | (284,244)
Other | ​ | ​ | (896) | ​ | ​ | (819)
Total | ​ | $ | (445,887) | ​ | $ | (429,986)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax asset | ​ | $ | 97,850 | ​ | $ | 91,944
Schedule of reconciliation of our uncertain tax positions | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fiscal Year
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of year | ​ | $ | 3,847 | ​ | $ | 3,787 | ​ | $ | 4,799
(Reductions)/additions related to prior year tax positions | ​ | ​ | (419) | ​ | ​ | 181 | ​ | ​ | 227
Reductions related to current period tax positions | ​ |  | (32) | ​ |  | (121) | ​ |  | (54)
Reductions related to settlements with taxing authorities | ​ |  | — | ​ |  | — | ​ |  | (1,185)
Balance at end of year | ​ | $ | 3,396 | ​ | $ | 3,847 | ​ | $ | 3,787

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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