Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Jan. 03, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information (Unaudited)

The tables below set forth summary unaudited consolidated quarterly financial information for 2020 and 2019. The Company reports on a fiscal year consisting of 52 or 53 weeks ending on the Sunday closest to December 31. During 2020, the Company’s first, second and third fiscal quarters contained 13 weeks and the Company’s fourth quarter contained 14 weeks. All of the Company’s fiscal quarters in 2019 contained 13 weeks.

	2020 Quarter Ended (a)
	March 29		June 28		September 27		January 3
Revenues	$	404,960	$	402,306	$	452,242	$	474,317
Cost of sales	149,999		140,626		159,545		164,737
Operating profit	48,732		60,661		81,348		78,567
Net income	$	14,441	$	24,904	$	39,753	$	38,734
Basic income per share	$	.06	$	.11	$	.18	$	.17
Diluted income per share	$	.06	$	.11	$	.17	$	.17

	2019 Quarter Ended (b)
	March 31		June 30		September 29		December 29
Revenues	$	408,583	$	435,348	$	437,880	$	427,191
Cost of sales	142,579		151,092		152,425		151,434
Operating profit	66,266		80,573		79,023		36,717
Net income	$	31,894	$	32,386	$	46,127	$	26,533
Basic income per share	$	.14	$	.14	$	.20	$	.12
Diluted income per share	$	.14	$	.14	$	.20	$	.11

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(a)The Company’s consolidated statements of operation in fiscal 2020 were significantly impacted by the advertising funds deficit and reorganization and realignment costs. The pre-tax impact of the advertising funds deficit for the first, second and third quarters was $1,387, $3,205 and $7,293, respectively. The pre-tax impact of reorganization and realignment costs for the first, second, third, and fourth quarters was $3,910, $2,911, $3,375 and $5,834, respectively (see Note 5 for further information).

(b)The Company’s consolidated statements of operations in fiscal 2019 were significantly impacted by investment income, net, franchise support and other costs, reorganization and realignment costs and loss on early extinguishment of debt. The pre-tax impact of investment income, net for the fourth quarter was $24,599 (see Note 8 for further information). The pre-tax impact of franchise support and other costs for the fourth quarter included approximately $16,400 to support U.S. franchisees in preparation for the launch of breakfast across the U.S. system on March 2, 2020. The pre-tax impact of reorganization and realignment costs for the fourth quarter was $12,194 (see Note 5 for further information). The pre-tax impact of loss on early extinguishment of debt for the second and fourth quarters was $7,150 and $1,346, respectively (see Note 12 for further information).