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Quarterly Data (Unaudited) | 12 Months Ended
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Dec. 25, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Data (Unaudited) | Quarterly Data (Unaudited) The results for each quarter include all adjustments which, in our opinion, are necessary for a fair presentation of the results for interim periods. All adjustments are of a normal and recurring nature. Selected consolidated financial data for each quarter of fiscal 2019 and 2018 are set forth below:
| Fiscal Year Ended December 25, 2019
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share data)
Company restaurant sales (1) | $ | 98,545 |  |  | $ | 95,447 |  |  | $ | 63,582 |  |  | $ | 48,803 |
Franchise and licensing revenue (1) | 52,866 |  |  | 56,437 |  |  | 60,676 |  |  | 65,033 |
Total operating revenue (1) | 151,411 |  |  | 151,884 |  |  | 124,258 |  |  | 113,836 |
Total operating costs and expenses (1) | 127,280 |  |  | 105,769 |  |  | 56,084 |  |  | 87,273 |
Operating income (1) | $ | 24,131 |  |  | $ | 46,115 |  |  | $ | 68,174 |  |  | $ | 26,563 |
Net income (1) | $ | 15,490 |  |  | $ | 34,239 |  |  | $ | 49,122 |  |  | $ | 18,559 |
Basic net income per share (1)(2) | $ | 0.25 |  |  | $ | 0.57 |  |  | $ | 0.83 |  |  | $ | 0.32 |
Diluted net income per share (1)(2) | $ | 0.24 |  |  | $ | 0.55 |  |  | $ | 0.80 |  |  | $ | 0.31 |
| Fiscal Year Ended December 26, 2018
| First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
| (In thousands, except per share data)
Company restaurant sales | $ | 101,193 |  |  | $ | 102,741 |  |  | $ | 103,609 |  |  | $ | 104,389 |
Franchise and licensing revenue | 54,080 |  |  | 54,593 |  |  | 54,414 |  |  | 55,160 |
Total operating revenue | 155,273 |  |  | 157,334 |  |  | 158,023 |  |  | 159,549 |
Total operating costs and expenses | 138,848 |  |  | 138,374 |  |  | 139,554 |  |  | 139,789 |
Operating income | $ | 16,425 |  |  | $ | 18,960 |  |  | $ | 18,469 |  |  | $ | 19,760 |
Net income | $ | 9,759 |  |  | $ | 11,626 |  |  | $ | 10,805 |  |  | $ | 11,503 |
Basic net income per share (2) | $ | 0.15 |  |  | $ | 0.18 |  |  | $ | 0.17 |  |  | $ | 0.19 |
Diluted net income per share (2) | $ | 0.15 |  |  | $ | 0.18 |  |  | $ | 0.16 |  |  | $ | 0.18 |
(1) | During 2019, the Company migrated from a 90% franchised business model to one that is 96% franchised by selling company owned restaurants to franchisees which resulted in, among other items, a reduction in revenues and the recording of approximately $82.9 million of gains. In addition, the Company also recorded an additional $11.9 million of gains related to the sale of real estate. See Note 4 and Note 5 for details.
(2) Per share amounts do not necessarily sum to the total year amounts due to changes in shares outstanding and rounding.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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