0001275158-21-000121 | 10-Q | XBRL Viewer

^[1]

237,600

(223)

$ 2

^[1]

(225)

1,954

Ending balance (in shares) at Sep. 29, 2020

(19,440)

46,795,534

^[1]

2,423,871

Ending balance at Sep. 29, 2020

32,862

$ 468

^[1]

$ (35,000)

202,314

(134,920)

Beginning balance (in shares) at Jun. 30, 2020

46,778,682

^[1]

2,423,871

Beginning balance at Jun. 30, 2020

32,276

$ 468

^[1]

$ (35,000)

201,601

(134,793)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

^[1]

16,852

$ 0

^[1]

664

Ending balance (in shares) at Sep. 29, 2020

(127)

46,795,534

^[1]

2,423,871

Ending balance at Sep. 29, 2020

32,862

$ 468

^[1]

$ (35,000)

202,314

(134,920)

Beginning balance (in shares) at Dec. 29, 2020

46,807,587

^[1]

2,423,871

Beginning balance at Dec. 29, 2020

29,699

$ 468

^[1]

$ (35,000)

202,970

(138,739)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

L Catterton warrants exercised (in shares)

^[1]

975,458

L Catterton warrants exercised

$ 10

^[1]

(10)

^[1]

282,871

(481)

$ 3

^[1]

(484)

3,481

Ending balance (in shares) at Sep. 28, 2021

8,403

48,065,916

^[1]

2,423,871

Ending balance at Sep. 28, 2021

41,102

$ 481

^[1]

$ (35,000)

205,957

(130,336)

Beginning balance (in shares) at Jun. 29, 2021

48,011,761

^[1]

2,423,871

Beginning balance at Jun. 29, 2021

35,443

$ 480

^[1]

$ (35,000)

204,996

(135,033)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

^[1]

54,155

(202)

$ 1

^[1]

(203)

1,164

Ending balance (in shares) at Sep. 28, 2021

4,697

48,065,916

^[1]

2,423,871

Ending balance at Sep. 28, 2021

$ 41,102

$ 481

^[1]

$ (35,000)

$ 205,957

$ (130,336)

[1]	Unless otherwise noted, activity relates to Class A common stock.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Supplemental Financial Information [Abstract]

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2021	Sep. 29, 2020
Operating activities
Net income (loss)	$ 8,403	$ (19,440)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	16,734	16,273
Deferred income taxes	41	72
Restaurant impairments, closure costs and asset disposals	1,441	3,034
Amortization of debt issuance costs	333	260
Stock-based compensation	3,436	1,904
Gain on insurance proceeds	(406)	0
Changes in operating assets and liabilities:
Accounts receivable	(431)	230
Inventories	(221)	75
Prepaid expenses and other assets	(1,893)	(802)
Accounts payable	3,149	3,505
Income taxes	(22)	27
Operating lease assets and liabilities	(649)	4,034
Accrued expenses and other liabilities	(19)	(858)
Net cash provided by operating activities	29,896	8,314
Investing activities
Purchases of property and equipment	(12,965)	(9,887)
Insurance proceeds received for property damage	406	0
Net cash used in investing activities	(12,559)	(9,887)
Financing activities
Proceeds from issuance of long-term debt	0	55,500
Payments on long-term debt	(20,118)	(54,125)
Payments on finance leases	(1,429)	(686)
Debt issuance costs	0	(731)
Stock plan transactions and tax withholding on share-based compensation awards	(481)	(223)
Net cash used in financing activities	(22,028)	(265)
Net decrease in cash and cash equivalents	(4,691)	(1,838)
Cash and cash equivalents
Beginning of period	7,840	10,459
End of period	$ 3,149	$ 8,621

Business Summary and Basis of Presentation	9 Months Ended
Business Summary and Basis of Presentation	Sep. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Summary and Basis of Presentation	Business Summary and Basis of Presentation Business Noodles & Company (the “Company”), a Delaware corporation, develops and operates fast casual restaurants that serve globally inspired noodle and pasta dishes, soups, salads and appetizers. As of September 28, 2021, the Company had 450 restaurants system-wide in 29 states, comprised of 374 company-owned restaurants and 76 franchise restaurants. The Company operates its business as one operating and reportable segment. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Noodles & Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of the Company, all adjustments considered necessary for the fair presentation of the Company’s results of operations, financial position and cash flows for the periods presented have been included and are of a normal, recurring nature. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for any interim period are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements on Form 10-K have been condensed or omitted. The condensed consolidated balance sheet as of December 29, 2020 was derived from audited financial statements. These financial statements should be read in conjunction with the audited financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2020. Fiscal Year The Company operates on a 52- or 53-week fiscal year ending on the Tuesday closest to December 31. The Company’s fiscal quarters each contain 13 operating weeks, with the exception of the fourth quarter of a 53-week fiscal year, which contains 14 operating weeks. Fiscal year 2021, which ends on December 28, 2021, and fiscal year 2020, which ended on December 29, 2020, both contain 52 weeks. The Company’s fiscal quarter that ended September 28, 2021 is referred to as the third quarter of 2021, and the fiscal quarter ended September 29, 2020 is referred to as the third quarter of 2020. Risks and Uncertainties We are subject to risks and uncertainties as a result of the ongoing COVID-19 pandemic. The onset of the COVID-19 pandemic resulted in significant disruption to the restaurant industry and adversely affected our business. The greatest impact to our sales and overall financial results was during the initial stages of the pandemic, beginning the third week of March 2020 through the second quarter of 2020. During this period, we temporarily closed nearly all of our dining rooms, driven by local government imposed restrictions in areas where we operate our restaurants and migrated to an almost completely off-premise model. Since the initial disruption, we have seen sequential improvement in our financial performance due in part to our investments in our off-premise and digital channels. In 2021, we saw further improvement as vaccine availability was more widespread and social distancing restrictions were softened. The extent of the impact of the COVID-19 pandemic on our operations and financial results depends on future developments and is highly uncertain due to the unknown duration and severity of the outbreak, including the potential impact of the COVID-19 delta variant. The situation is changing rapidly and future impacts may materialize that are not yet known. As of the date of this filing, substantially all of our restaurants continue to operate, with dining rooms open at varying capacities. We intend to continue to actively monitor the evolving situation and may take further actions that alter our business operations as may be required by federal, state or local authorities or that we determine are in the best interests of our team members, customers, suppliers and shareholders. Recent Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 was issued as a means to reduce the complexity of accounting for income taxes for those entities that fall within the scope of the accounting standard. This guidance is effective for public companies for annual reporting periods beginning after December 15, 2020 and interim periods within those reporting periods. Interim period adoption is permitted. The guidance is to be applied using a prospective method, excluding amendments related to franchise taxes, which should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted this standard on December 30, 2020. The adoption of this standard did not have a material impact on our consolidated financial statements or disclosures.

Supplemental Financial Information

9 Months Ended

Sep. 28, 2021

Supplemental Financial Information

Accounts receivable consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Delivery program receivables	$	1,592	$	1,268
Insurance receivable	—		74
Vendor rebate receivables	752		641
Franchise receivables	715		564
Other receivables	793		881
Accounts receivable	$	3,852	$	3,428

Prepaid expenses and other assets consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Prepaid insurance	$	1,347	$	744
Prepaid occupancy related costs	60		884
Other prepaid expenses	3,162		1,092
Other current assets	117		39
Prepaid expenses and other assets	$	4,686	$	2,759

Property and equipment, net, consists of the following (in thousands):


	September 28, 2021		December 29, 2020
Leasehold improvements	$	200,574	$	199,782
Furniture, fixtures and equipment	137,311		132,756
Construction in progress	9,195		1,713
	347,080		334,251
Accumulated depreciation and amortization	(225,489)		(211,334)
Property and equipment, net	$	121,591	$	122,917

Accrued payroll and benefits consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Accrued payroll and related liabilities	$	6,243	$	6,812
Accrued bonus	5,474		2,364
Insurance liabilities	3,452		3,700
Accrued payroll and benefits	$	15,169	$	12,876

Accrued expenses and other current liabilities consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Gift card liability	$	2,189	$	2,551
Occupancy related	2,109		1,322
Utilities	1,412		1,338
Current portion of finance lease liability	1,957		1,800
Accrued interest	316		375
Insurance liabilities	404		398
Other restaurant expense accruals	1,170		1,079
Other corporate expense accruals	2,884		2,769
Accrued expenses and other current liabilities	$	12,441	$	11,632

Long-Term Debt

9 Months Ended

Sep. 28, 2021

Debt Disclosure [Abstract]

Long-Term Debt

On May 9, 2018, the Company entered into a credit facility with U.S. Bank National Association (the “2018 Credit Facility”). The 2018 Credit Facility consisted of a term loan facility in an aggregate principal amount of $25.0 million and a revolving credit facility of $65.0 million, which included a letter of credit subfacility in the amount of $15.0 million and a swingline subfacility in the amount of $10.0 million.

On November 20, 2019, the Company amended its 2018 Credit Facility by entering into the First Amendment to the Credit Agreement (the “Amendment” and the 2018 Credit Facility, as amended, the “First Amended Credit Facility”). Among other things, the Amendment: (i) extended the maturity date to November 20, 2024; (ii) increased the revolving credit facility from $65.0 million to $75.0 million; (iii) delayed step downs of the Company’s leverage covenant; and (iv) increased the limit on capital expenditures to $37.0 million in 2020 and to $45.0 million in 2021 and each fiscal year thereafter.

Borrowings under the First Amended Credit Facility, including the term loan facility, bear interest annually, at the Company’s option, at either (i) LIBOR plus a margin of 2.00% to 2.75% per annum, based upon the consolidated total lease-adjusted leverage ratio or (ii) the highest of the following base rates plus a margin of 1.00% to 1.75% per annum: (a) the federal funds rate plus 0.50%; (b) the U.S. Bank prime rate or (c) the one-month LIBOR plus 1.00%. The Amendment includes a commitment fee of 0.20% to 0.35% per annum, based upon the consolidated total lease-adjusted leverage ratio, on any unused portion of the revolving credit facility.

On June 16, 2020 (the “Effective Date”), the Company amended its First Amended Credit Facility by entering into the Second Amendment to the Credit Agreement (the “Second Amendment” and the First Amended Credit Facility, as amended, or the “Second Amended Credit Facility”). Beginning on the Effective Date and through the third quarter of 2021 (the “Amendment Period”), borrowings under the Second Amended Credit Facility, including the term loan facility, will bear interest at LIBOR plus 3.25% per annum. Following the Amendment Period, borrowings will bear interest at LIBOR plus a margin of 2.00% to 3.00% per annum, based upon the consolidated total lease-adjusted leverage ratio. Among other things, the Second Amendment (i) waives the lease-adjusted leverage ratio and fixed charge ratio covenants through the first quarter of 2021; (ii) amends the Company’s lease-adjusted leverage ratio and fixed coverage ratio covenant thresholds beginning in the second quarter of 2021 through the third quarter of 2022 and the first quarter of 2022, respectively; and (iii) limits capital expenditures to $12.0 million in 2020, $12.0 million plus a liquidity-based performance basket up to an additional $12.0 million in 2021, $34.0 million in 2022, $37.0 million in 2023 and $45.0 million annually thereafter.

As of September 28, 2021, the Company had $23.7 million of indebtedness (excluding $1.4 million of unamortized debt issuance costs) and $3.2 million of letters of credit outstanding under the Second Amended Credit Facility reflecting debt repayments of $20.1 million including $19.6 million on the revolver and $0.5 million on the term loan in the first three quarters of 2021. As of September 28, 2021, the Company had cash on hand of $3.1 million.

The term loan requires principal payments of $187,500 per quarter through the third quarter of 2021, $375,000 per quarter through the third quarter of 2022, $531,250 per quarter through the third quarter of 2023 and $625,000 per quarter thereafter through maturity.

Aggregate maturities for debt outstanding as of September 28, 2021 are as follows (in thousands):


Year 1	$	1,500
Year 2	2,125
Year 3	2,500
Year 4	17,563
Total	$	23,688

The Company’s outstanding indebtedness bore interest at rates between 3.33% to 3.52% during the first three quarters of 2021.

The Company also maintains outstanding letters of credit to secure obligations under its workers’ compensation program and certain lease obligations. The Company was in compliance with all of its debt covenants as of September 28, 2021.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 28, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and all other current liabilities approximate their fair values due to their short-term nature. The carrying amounts of borrowings approximate fair value as the line of credit and term borrowings vary with market interest rates and negotiated terms and conditions are consistent with current market rates. The fair value of the Company’s line of credit and term borrowings are measured using Level 2 inputs. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Assets recognized or disclosed at fair value in the condensed consolidated financial statements on a non-recurring basis include items such as leasehold improvements, property and equipment, operating lease assets, goodwill and other intangible assets. These assets are measured at fair value if determined to be impaired or when acquired. Adjustments to the fair value of assets measured at fair value on a non-recurring basis as of September 28, 2021 and September 29, 2020 are discussed in Note 7, Restaurant Impairments, Closure Costs and Asset Disposals.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

9 Months Ended

Sep. 28, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The following table presents the Company’s provision for income taxes (in thousands):


	Fiscal Quarter Ended						Three Fiscal Quarters Ended
	September 28, 2021			September 29, 2020			September 28, 2021			September 29, 2020
Provision for income taxes	$	29		$	27		$	48		$	73
Effective tax rate	0.6		%	(27.0)		%	0.6		%	(0.4)		%

The effective tax rate for the third quarter of 2021 and the first three quarters of 2021 reflects the impact of the previously recorded valuation allowance. For the remainder of fiscal 2021, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded. The Company will maintain the valuation allowance against deferred tax assets until there is sufficient evidence to support a full or partial reversal. The reversal of a previously recorded valuation allowance will generally result in a benefit from income tax.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

9 Months Ended

Sep. 28, 2021

Stock-Based Compensation

The Company’s Stock Incentive Plan (the “Plan”), as amended and restated in May of 2013, authorizes the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance share units and incentive bonuses to employees, officers, non-employee directors and other service providers. As of September 28, 2021, approximately 3.0 million share-based awards were available to be granted under the Plan.

The following table shows total stock-based compensation expense (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Stock-based compensation expense	$	1,177	$	708	$	3,590	$	1,960
Capitalized stock-based compensation expense	$	11	$	12	$	45	$	50

Restaurant Impairments, Closure Costs and Asset Disposals

9 Months Ended

Sep. 28, 2021

Property, Plant and Equipment Impairment or Disposal [Abstract]

Restaurant Impairments, Closure Costs and Asset Disposals

The following table presents restaurant impairments, closure costs and asset disposals (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Restaurant impairments (1)	$	536	$	113	$	1,216	$	2,375
Closure costs (1)	236		(168)		829		345
Loss on disposal of assets and other	354		424		702		1,263
	$	1,126	$	369	$	2,747	$	3,983

_____________________________

(1)Restaurant impairments and closure costs in all periods presented above include amounts related to restaurants previously impaired or closed.

The Company impaired one restaurant in the third quarter of 2021 and had no restaurant impairments in the third quarter of 2020. The Company impaired two restaurants in the first three quarters of 2021 and five restaurants in the first three quarters of 2020. Impairment is based on management’s current assessment of the expected future cash flows of a restaurant based on recent results and other specific market factors. Impairment expense is a Level 3 fair value measure and is determined by comparing the carrying value of restaurant assets to the estimated fair value of the restaurant assets at resale value and the right-of-use asset based on a discounted cash flow analysis utilizing market lease rates. The Company will continue to monitor the impact from the COVID-19 pandemic as it relates to recoverability of long-lived assets. Although the Company has seen an improvement in sales, the Company is unable to predict how long these conditions will persist, what additional measures may be introduced by governments or what effect any such additional measures may have on restaurants and our business. Any measure that encourages consumers to stay in their homes, engage in social distancing or avoid larger gatherings of people for an extended period of time is and has been highly likely to continue to be harmful to the restaurant industry in general.

Closure costs in the third quarter of 2021 and the first three quarters of 2021 include ongoing costs related to restaurants closed in previous years as well as eight company-owned restaurant closures during the first three quarters of 2021. Closure costs in the third quarter and first three quarters of 2020 include ongoing costs related to restaurants closed in previous years as well as three company-owned restaurant closures during the third quarter of 2020. In addition, closure costs were offset by gains resulting from adjustments to liabilities as lease terminations occur. These gains included a total of $0.6 million in the third quarter and first three quarters of 2020.

Loss on disposal of assets and other for the first three quarters of 2021 includes a gain on insurance proceeds from property damage. Loss on disposal of assets and other includes expenses recognized during the first three quarters of 2020 related to the divestiture of company-owned restaurants to a franchisee.

These expenses are included in the “Restaurant impairments, closure costs and asset disposals” line in the Condensed Consolidated Statements of Operations.

Earnings (Loss) Per Share

9 Months Ended

Sep. 28, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted EPS is calculated using net income (loss) available to common stockholders divided by diluted weighted-average shares of common stock outstanding during each period. Potentially dilutive securities include shares of common stock underlying stock options, warrants and RSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Net income (loss)	$	4,697	$	(127)	$	8,403	$	(19,440)
Shares:
Basic weighted average shares outstanding	45,635,455		44,358,763		45,414,332		44,238,400
Effect of dilutive securities	747,054		—		720,662		—
Diluted weighted average shares outstanding	46,382,509		44,358,763		46,134,994		44,238,400
Earnings (loss) per share:
Basic earnings (loss) per share	$	0.10	$	—	$	0.19	$	(0.44)
Diluted earnings (loss) per share	$	0.10	$	—	$	0.18	$	(0.44)

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. Potential common shares are excluded from the computation of diluted earnings (loss) per share when the effect would be anti-dilutive. The shares issuable on the vesting or exercise of share-based awards or exercise of outstanding warrants that were excluded from the calculation of diluted earnings per share because the effect of their inclusion would have been anti-dilutive totaled 359,211 and 3,107,448 for the third quarters of 2021 and 2020, respectively, and totaled 479,494 and 3,251,799 for the first three quarters of 2021 and 2020, respectively.

Leases

9 Months Ended

Sep. 28, 2021

Leases [Abstract]

Leases

Supplemental balance sheet information related to leases is as follows (in thousands):


Classification		September 28, 2021		December 29, 2020
Assets
Operating	Operating lease assets, net	$	190,134	$	195,618
Finance	Finance lease assets, net (1)	6,924		7,822
Total leased assets		$	197,058	$	203,440
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	26,757	$	26,094
Finance	Current finance lease liabilities (2)	1,957		1,800
Long-term lease liabilities
Operating	Long-term operating lease liabilities	203,589		210,454
Finance	Long-term finance lease liabilities (2)	5,149		6,056
Total lease liabilities		$	237,452	$	244,404

_____________________

(1)The finance lease assets are included in property and equipment, net in the Condensed Consolidated Balance Sheets.

(2)The current portion of the finance lease liabilities is included in accrued expenses and other current liabilities, and the long-term portion was included in other long-term liabilities in the Condensed Consolidated Balance Sheets.

Sublease income recognized in the Condensed Consolidated Statements of Operations was $0.4 million and $0.2 million for the third quarter of 2021 and 2020, and $1.4 million and $0.7 million for the first three quarters of 2021 and 2020, respectively.

During 2020, the onset of the COVID-19 pandemic impacted the Company’s business significantly, including temporary closures of our dining rooms starting in March 2020. During the second and third quarters of 2020, we were able to negotiate with the majority of our landlords to obtain rent abatements, or defer rent amounts due during the second quarter, and in some cases, the periods of the respective lease terms were extended earlier than as proscribed in the lease as part of the rent concessions. In the case where the lease term was extended, we remeasured the remaining consideration in the contract. The total rent that was deferred for lease amendments that have been executed was $4.2 million.

For certain of the Company’s restaurants, the COVID-19 pandemic has had an impact on the underlying asset values. In the first quarter of 2021, the Company recorded a right-of-use asset impairment charge for one restaurant to reduce the carrying value of operating lease assets to its respective estimated fair value. There was no impairment to the Company’s right-of-use assets during the second and third quarters of 2021. In the first three quarters of 2020, we recorded an impairment charge of $0.3 million on the right-of-use assets of one restaurant that was impaired in the second quarter of 2020.

Supplemental disclosures of cash flow information related to leases are as follows (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Cash paid for lease liabilities:
Operating leases	$	11,285	$	14,784	$	30,880	$	28,358
Finance leases	583		324		1,807		776
	$	11,868	$	15,108	$	32,687	$	29,134
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	4,110	$	108	$	10,806	$	10,388
Finance leases	—		545		700		3,387
	$	4,110	$	653	$	11,506	$	13,775

Leases

Supplemental balance sheet information related to leases is as follows (in thousands):


Classification		September 28, 2021		December 29, 2020
Assets
Operating	Operating lease assets, net	$	190,134	$	195,618
Finance	Finance lease assets, net (1)	6,924		7,822
Total leased assets		$	197,058	$	203,440
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	26,757	$	26,094
Finance	Current finance lease liabilities (2)	1,957		1,800
Long-term lease liabilities
Operating	Long-term operating lease liabilities	203,589		210,454
Finance	Long-term finance lease liabilities (2)	5,149		6,056
Total lease liabilities		$	237,452	$	244,404

_____________________

(1)The finance lease assets are included in property and equipment, net in the Condensed Consolidated Balance Sheets.

Supplemental disclosures of cash flow information related to leases are as follows (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Cash paid for lease liabilities:
Operating leases	$	11,285	$	14,784	$	30,880	$	28,358
Finance leases	583		324		1,807		776
	$	11,868	$	15,108	$	32,687	$	29,134
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	4,110	$	108	$	10,806	$	10,388
Finance leases	—		545		700		3,387
	$	4,110	$	653	$	11,506	$	13,775

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows

9 Months Ended

Sep. 28, 2021

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows

The following table presents the supplemental disclosures to the Condensed Consolidated Statements of Cash Flows for the three quarters ended September 28, 2021 and September 29, 2020 (in thousands):


	September 28, 2021		September 29, 2020
Interest paid (net of amounts capitalized)	$	1,163	$	1,902
Income taxes paid (refunded)	30		(78)
Purchases of property and equipment accrued in accounts payable	3,777		2,818

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 28, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue Revenue consists of sales from restaurant operations, franchise royalties and fees, and sublease income. Revenue from the operation of company-owned restaurants is recognized when sales occur. The Company reports revenue net of sales tax collected from customers and remitted to governmental taxing authorities. Gift Cards The Company sells gift cards which do not have an expiration date, and it does not deduct non-usage fees from outstanding gift card balances. The Company recognizes revenue from gift cards when the gift card is redeemed by the customer or the Company determines the likelihood of the gift card being redeemed by the customer is remote (“gift card breakage”). The determination of the gift card breakage rate is based upon Company-specific historical redemption patterns. The Company has determined that approximately 9% of gift cards will not be redeemed and recognizes gift card breakage ratably over the estimated redemption period of the gift card, which is approximately 24 months. Gift card liability balances are typically highest at the end of each calendar year following increased gift card purchases during the holiday season. As of September 28, 2021 and December 29, 2020, the current portion of the gift card liability, $2.2 million and $2.6 million, respectively, was included in accrued expenses and other current liabilities, and the long-term portion, $0.4 million and $0.6 million, respectively, was included in other long-term liabilities in the Condensed Consolidated Balance Sheets. Revenue recognized in the Condensed Consolidated Statements of Operations for the redemption of gift cards was $0.6 million for both the third quarter of 2021 and 2020, and $2.5 million and $2.8 million for the first three quarters of 2021 and 2020, respectively. Franchise Fees Royalties from franchise restaurants are based on a percentage of restaurant revenues and are recognized in the period the related franchised restaurants’ sales occur. In the second quarter of 2020, the Company forgave the franchise royalties due for the quarter due to the impact of the COVID-19 pandemic. Royalties were reinstated in the third quarter of 2020. Development fees and franchise fees, portions of which are collected in advance, are nonrefundable and are recognized in income ratably over the term of the related franchise agreement or recognized upon the termination of the agreement between the Company and the franchisee. The Company has determined that the initial franchise services are not distinct from the continuing rights or services offered during the term of the franchise agreement and should be treated as a single performance obligation; therefore, initial fees received from franchisees are recognized as revenue over the term of each respective franchise agreement, which is typically 20 years. Loyalty Program The Company operates the Noodles Rewards program, which is primarily a spend-based loyalty program. With each purchase, Noodles Rewards members earn loyalty points that can be redeemed for rewards, including free products. Using an estimate of the value of reward redemptions, we defer revenue associated with points earned, net of estimated points that will not be redeemed based upon the Company’s historical redemption patterns. Points generally expire after six months. Revenue is recognized in a future period when the reward points are redeemed. As of September 28, 2021 and December 29, 2020, the deferred revenue related to the rewards was $0.2 million and $0.4 million, respectively, and was included in accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Supplemental Financial Information [Abstract]

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 28, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the normal course of business, the Company is subject to other proceedings, lawsuits and claims. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. Consequently, the Company is unable to ascertain the ultimate aggregate amount of monetary liability or financial impact with respect to these matters as of September 28, 2021. These matters could affect the operating results of any one financial reporting period when resolved in future periods. The Company believes that an unfavorable outcome with respect to these matters is remote or a potential range of loss is not material to its consolidated financial statements. Significant increases in the number of these claims, or one or more successful claims that result in greater liabilities than the Company currently anticipates, could materially and adversely affect its business, financial condition, results of operations or cash flows.

Business Summary and Basis of Presentation (Policies)	9 Months Ended
Business Summary and Basis of Presentation (Policies)	Sep. 28, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Noodles & Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. In the opinion of the Company, all adjustments considered necessary for the fair presentation of the Company’s results of operations, financial position and cash flows for the periods presented have been included and are of a normal, recurring nature. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for any interim period are not necessarily indicative of results for the full year. Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements on Form 10-K have been condensed or omitted. The condensed consolidated balance sheet as of December 29, 2020 was derived from audited financial statements. These financial statements should be read in conjunction with the audited financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2020.
Fiscal Year	Fiscal Year The Company operates on a 52- or 53-week fiscal year ending on the Tuesday closest to December 31. The Company’s fiscal quarters each contain 13 operating weeks, with the exception of the fourth quarter of a 53-week fiscal year, which contains 14 operating weeks. Fiscal year 2021, which ends on December 28, 2021, and fiscal year 2020, which ended on December 29, 2020, both contain 52 weeks. The Company’s fiscal quarter that ended September 28, 2021 is referred to as the third quarter of 2021, and the fiscal quarter ended September 29, 2020 is referred to as the third quarter of 2020.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements and related disclosures. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). ASU 2019-12 was issued as a means to reduce the complexity of accounting for income taxes for those entities that fall within the scope of the accounting standard. This guidance is effective for public companies for annual reporting periods beginning after December 15, 2020 and interim periods within those reporting periods. Interim period adoption is permitted. The guidance is to be applied using a prospective method, excluding amendments related to franchise taxes, which should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted this standard on December 30, 2020. The adoption of this standard did not have a material impact on our consolidated financial statements or disclosures.

Supplemental Financial Information (Tables)

9 Months Ended

Sep. 28, 2021

Schedule of Accounts Receivable

Accounts receivable consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Delivery program receivables	$	1,592	$	1,268
Insurance receivable	—		74
Vendor rebate receivables	752		641
Franchise receivables	715		564
Other receivables	793		881
Accounts receivable	$	3,852	$	3,428

Schedule of Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Prepaid insurance	$	1,347	$	744
Prepaid occupancy related costs	60		884
Other prepaid expenses	3,162		1,092
Other current assets	117		39
Prepaid expenses and other assets	$	4,686	$	2,759

Schedule of Property and Equipment

Property and equipment, net, consists of the following (in thousands):


	September 28, 2021		December 29, 2020
Leasehold improvements	$	200,574	$	199,782
Furniture, fixtures and equipment	137,311		132,756
Construction in progress	9,195		1,713
	347,080		334,251
Accumulated depreciation and amortization	(225,489)		(211,334)
Property and equipment, net	$	121,591	$	122,917

Schedule of Accrued Payroll and Benefits

Accrued payroll and benefits consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Accrued payroll and related liabilities	$	6,243	$	6,812
Accrued bonus	5,474		2,364
Insurance liabilities	3,452		3,700
Accrued payroll and benefits	$	15,169	$	12,876

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	September 28, 2021		December 29, 2020
Gift card liability	$	2,189	$	2,551
Occupancy related	2,109		1,322
Utilities	1,412		1,338
Current portion of finance lease liability	1,957		1,800
Accrued interest	316		375
Insurance liabilities	404		398
Other restaurant expense accruals	1,170		1,079
Other corporate expense accruals	2,884		2,769
Accrued expenses and other current liabilities	$	12,441	$	11,632

Long-Term Debt (Tables)

9 Months Ended

Sep. 28, 2021

Debt Disclosure [Abstract]

Schedule of Aggregate Maturities for Debt Outstanding

Aggregate maturities for debt outstanding as of September 28, 2021 are as follows (in thousands):


Year 1	$	1,500
Year 2	2,125
Year 3	2,500
Year 4	17,563
Total	$	23,688

Income Taxes (Tables)

9 Months Ended

Sep. 28, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The following table presents the Company’s provision for income taxes (in thousands):


	Fiscal Quarter Ended						Three Fiscal Quarters Ended
	September 28, 2021			September 29, 2020			September 28, 2021			September 29, 2020
Provision for income taxes	$	29		$	27		$	48		$	73
Effective tax rate	0.6		%	(27.0)		%	0.6		%	(0.4)		%

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 28, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The following table shows total stock-based compensation expense (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Stock-based compensation expense	$	1,177	$	708	$	3,590	$	1,960
Capitalized stock-based compensation expense	$	11	$	12	$	45	$	50

Restaurant Impairments, Closure Costs and Asset Disposals (Tables)

9 Months Ended

Sep. 28, 2021

Property, Plant and Equipment Impairment or Disposal [Abstract]

Schedule of Restaurant Impairments, Closure Costs and Asset Disposals

The following table presents restaurant impairments, closure costs and asset disposals (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Restaurant impairments (1)	$	536	$	113	$	1,216	$	2,375
Closure costs (1)	236		(168)		829		345
Loss on disposal of assets and other	354		424		702		1,263
	$	1,126	$	369	$	2,747	$	3,983

_____________________________

(1)Restaurant impairments and closure costs in all periods presented above include amounts related to restaurants previously impaired or closed.

Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 28, 2021

Earnings Per Share [Abstract]

Schedule of Basic and Diluted EPS

The following table sets forth the computations of basic and diluted EPS (in thousands, except share and per share data):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Net income (loss)	$	4,697	$	(127)	$	8,403	$	(19,440)
Shares:
Basic weighted average shares outstanding	45,635,455		44,358,763		45,414,332		44,238,400
Effect of dilutive securities	747,054		—		720,662		—
Diluted weighted average shares outstanding	46,382,509		44,358,763		46,134,994		44,238,400
Earnings (loss) per share:
Basic earnings (loss) per share	$	0.10	$	—	$	0.19	$	(0.44)
Diluted earnings (loss) per share	$	0.10	$	—	$	0.18	$	(0.44)

Leases (Tables)

9 Months Ended

Sep. 28, 2021

Leases [Abstract]

Schedule of Supplemental Lease Information

Supplemental balance sheet information related to leases is as follows (in thousands):


Classification		September 28, 2021		December 29, 2020
Assets
Operating	Operating lease assets, net	$	190,134	$	195,618
Finance	Finance lease assets, net (1)	6,924		7,822
Total leased assets		$	197,058	$	203,440
Liabilities
Current lease liabilities
Operating	Current operating lease liabilities	$	26,757	$	26,094
Finance	Current finance lease liabilities (2)	1,957		1,800
Long-term lease liabilities
Operating	Long-term operating lease liabilities	203,589		210,454
Finance	Long-term finance lease liabilities (2)	5,149		6,056
Total lease liabilities		$	237,452	$	244,404

_____________________

(1)The finance lease assets are included in property and equipment, net in the Condensed Consolidated Balance Sheets.

Supplemental disclosures of cash flow information related to leases are as follows (in thousands):


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	September 28, 2021		September 29, 2020		September 28, 2021		September 29, 2020
Cash paid for lease liabilities:
Operating leases	$	11,285	$	14,784	$	30,880	$	28,358
Finance leases	583		324		1,807		776
	$	11,868	$	15,108	$	32,687	$	29,134
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	4,110	$	108	$	10,806	$	10,388
Finance leases	—		545		700		3,387
	$	4,110	$	653	$	11,506	$	13,775

Supplemental Disclosures to Condensed Consolidated Statements of Cash Flows (Tables)

9 Months Ended

Sep. 28, 2021

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Disclosures to the Condensed Consolidated Statements of Cash Flows

The following table presents the supplemental disclosures to the Condensed Consolidated Statements of Cash Flows for the three quarters ended September 28, 2021 and September 29, 2020 (in thousands):


	September 28, 2021		September 29, 2020
Interest paid (net of amounts capitalized)	$	1,163	$	1,902
Income taxes paid (refunded)	30		(78)
Purchases of property and equipment accrued in accounts payable	3,777		2,818

Business Summary and Basis of Presentation (Details)	9 Months Ended
Business Summary and Basis of Presentation (Details)	Sep. 28, 2021 restaurant state segment
Franchisor Disclosure [Line Items]
Number of restaurants	450
Number of states with operations \| state	29
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Company-owned
Franchisor Disclosure [Line Items]
Number of restaurants	374
Franchise
Franchisor Disclosure [Line Items]
Number of restaurants	76

Supplemental Financial Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 29, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 3,852	$ 3,428
Delivery program receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	1,592	1,268
Insurance receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	0	74
Vendor rebate receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	752	641
Franchise receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	715	564
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 793	$ 881

Supplemental Financial Information - Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 29, 2020
Supplemental Financial Information [Abstract]
Prepaid insurance	$ 1,347	$ 744
Prepaid occupancy related costs	60	884
Other prepaid expenses	3,162	1,092
Other current assets	117	39
Prepaid expenses and other assets	$ 4,686	$ 2,759

Supplemental Financial Information - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 29, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 347,080	$ 334,251
Accumulated depreciation and amortization	(225,489)	(211,334)
Property and equipment, net	121,591	122,917
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	200,574	199,782
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	137,311	132,756
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,195	$ 1,713

Supplemental Financial Information - Accrued Payroll and Benefits (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 29, 2020
Supplemental Financial Information [Abstract]
Accrued payroll and related liabilities	$ 6,243	$ 6,812
Accrued bonus	5,474	2,364
Insurance liabilities	3,452	3,700
Accrued payroll and benefits	$ 15,169	$ 12,876

Supplemental Financial Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 29, 2020
Supplemental Financial Information [Abstract]
Gift card liability	$ 2,189	$ 2,551
Occupancy related	2,109	1,322
Utilities	1,412	1,338
Current portion of finance lease liability	1,957	1,800
Accrued interest	316	375
Insurance liabilities	404	398
Other restaurant expense accruals	1,170	1,079
Other corporate expense accruals	2,884	2,769
Accrued expenses and other current liabilities	$ 12,441	$ 11,632

Long-Term Debt - Narrative (Details) - USD ($)		9 Months Ended		12 Months Ended		14 Months Ended	15 Months Ended	38 Months Ended
Long-Term Debt - Narrative (Details) - USD ($)	Nov. 20, 2019	Sep. 28, 2021	Sep. 29, 2020	Oct. 03, 2023	Sep. 27, 2022	Nov. 20, 2024	Sep. 28, 2021	Nov. 20, 2024	Dec. 29, 2020	Jun. 16, 2020	May 09, 2018
Line of Credit Facility [Line Items]
Indebtedness		$ 23,688,000					$ 23,688,000
Unamortized debt issuance costs		1,400,000					1,400,000
Letters of credit outstanding		3,200,000					3,200,000
Payments on long-term debt		20,118,000	$ 54,125,000
Cash on hand		$ 3,149,000					$ 3,149,000		$ 7,840,000
Minimum
Line of Credit Facility [Line Items]
Interest rate during period		3.33%
Maximum
Line of Credit Facility [Line Items]
Interest rate during period		3.52%
Term loan
Line of Credit Facility [Line Items]
Payments on long-term debt		$ 500,000
Revolving credit facility
Line of Credit Facility [Line Items]
Payments on long-term debt		19,600,000
2018 Credit Facility \| Term loan
Line of Credit Facility [Line Items]
Aggregate principal amount											$ 25,000,000
Quarterly principal payments		$ 187,500
Frequency of periodic payment		quarter
2018 Credit Facility \| Term loan \| Forecast
Line of Credit Facility [Line Items]
Quarterly principal payments				$ 531,250	$ 375,000	$ 625,000
2018 Credit Facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											65,000,000
2018 Credit Facility \| Letter of credit subfacility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											15,000,000
2018 Credit Facility \| Swingline subfacility
Line of Credit Facility [Line Items]
Maximum borrowing capacity											$ 10,000,000
First Amended Credit Facility
Line of Credit Facility [Line Items]
Capital expenditure limit in current fiscal year per agreement	$ 37,000,000
Capital expenditure limit in each year after current fiscal year	$ 45,000,000
First Amended Credit Facility \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
First Amended Credit Facility \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
First Amended Credit Facility \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
First Amended Credit Facility \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
First Amended Credit Facility \| Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
First Amended Credit Facility \| Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
First Amended Credit Facility \| Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 75,000,000
First Amended Credit Facility \| Revolving credit facility \| Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.20%
First Amended Credit Facility \| Revolving credit facility \| Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.35%
Second Amended Credit Facility
Line of Credit Facility [Line Items]
Capital expenditure limit in current fiscal year per agreement										$ 12,000,000
Capital expenditure limit in next fiscal year per agreement										12,000,000
Liquidity-based performance basket in next fiscal year per agreement										12,000,000
Capital expenditure limit in 2022 per agreement										34,000,000
Capital expenditure limit in 2023 per agreement										37,000,000
Capital expenditure limit after 2023 per agreement										$ 45,000,000
Second Amended Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate							3.25%
Second Amended Credit Facility \| LIBOR \| Minimum \| Forecast
Line of Credit Facility [Line Items]
Basis spread on variable rate								2.00%
Second Amended Credit Facility \| LIBOR \| Maximum \| Forecast
Line of Credit Facility [Line Items]
Basis spread on variable rate								3.00%

Long-Term Debt - Aggregate Maturities (Details) $ in Thousands	Sep. 28, 2021 USD ($)
Aggregate Maturities for Debt Outstanding
Year 1	$ 1,500
Year 2	2,125
Year 3	2,500
Year 4	17,563
Total	$ 23,688

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Sep. 29, 2020	Sep. 28, 2021	Sep. 29, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 29	$ 27	$ 48	$ 73
Effective tax rate	0.60%	(27.00%)	0.60%	(0.40%)