Cheesecake Factory Inc. Files 10-Q for Period Ending April 2, 2024

TL;DR

<b>The Cheesecake Factory, Inc. has filed its 10-Q report for the quarter ending April 2, 2024, detailing its financial status and equity components.</b>

AI Summary

CHEESECAKE FACTORY INC (CAKE) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. The Cheesecake Factory, Inc. filed a 10-Q report for the period ending April 2, 2024. The filing covers the company's financial performance and position. Key financial statement items like common stock, retained earnings, and additional paid-in capital are detailed. Information regarding treasury stock, AOCI, and employee stock options is included. The report also references senior notes and a revolving credit facility.

Why It Matters

For investors and stakeholders tracking CHEESECAKE FACTORY INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's operational performance and financial health. Understanding the changes in equity, debt, and stock-related items offers insights into capital management, share buybacks, and potential dilution.

Risk Assessment

Risk Level: low — CHEESECAKE FACTORY INC shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, indicating a low level of immediate risk from this specific document.

Analyst Insight

Review the detailed financial statements and footnotes within the 10-Q to understand revenue trends, cost management, and any significant changes in the balance sheet.

Key Numbers

• 2024-04-02 — Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed as of date)
• 0000887596 — Central Index Key (Filer's identifier)
• 5812 — SIC Code (Standard Industrial Classification for Eating Places)

Key Players & Entities

• CHEESECAKE FACTORY INC (company) — Filer
• 2024-04-02 (date) — Conformed Period of Report
• 2024-05-08 (date) — Filed as of date
• 0000887596 (company) — Central Index Key
• 5812 (industry) — Standard Industrial Classification
• DE (state) — State of Incorporation
• 818-871-3000 (phone) — Business Phone
• CAKE (ticker) — Ticker Symbol

FAQ

Industry Context

The Cheesecake Factory operates in the restaurant industry, specifically in the full-service dining segment.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the balance sheet for changes in cash, debt, and equity.
2. Review the statement of operations for revenue and net income trends.
3. Examine the statement of cash flows for operating, investing, and financing activities.

Key Dates

• 2024-04-02: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending April 2, 2024, and comparative data from the previous period will be found within the document itself.

Filing Documents

• cake-20240402x10q.htm (10-Q) — 1202KB
• cake-20240402xex31d1.htm (EX-31.1) — 10KB
• cake-20240402xex31d2.htm (EX-31.2) — 10KB
• cake-20240402xex32d1.htm (EX-32.1) — 6KB
• cake-20240402xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-000636.txt (&nbsp;) — 5712KB
• cake-20240402.xsd (EX-101.SCH) — 40KB
• cake-20240402_cal.xml (EX-101.CAL) — 45KB
• cake-20240402_def.xml (EX-101.DEF) — 138KB
• cake-20240402_lab.xml (EX-101.LAB) — 386KB
• cake-20240402_pre.xml (EX-101.PRE) — 261KB
• cake-20240402x10q_htm.xml (XML) — 972KB

Financial Statements

Financial Statements : Condensed Consolidated Balance Sheets (Unaudited) 1 Condensed Consolidated Statements of Income (Unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II OTHER INFORMATION 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 5. Other Items 27 Item 6. Exhibits 28

Signatures

Signatures 29 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. THE CHEESECAKE FACTORY INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) April 2, January 2, 2024 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 60,220 $ 56,290 Accounts and other receivables 75,559 103,094 Income taxes receivable 19,838 20,670 Inventories 65,469 57,654 Prepaid expenses 62,486 63,090 Total current assets 283,572 300,798 Property and equipment, net 793,810 791,093 Other assets: Intangible assets, net 251,771 251,727 Operating lease assets 1,310,319 1,302,150 Other 198,168 194,615 Total other assets 1,760,258 1,748,492 Total assets $ 2,837,640 $ 2,840,383 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 61,383 $ 63,152 Gift card liabilities 196,236 222,915 Operating lease liabilities 147,380 134,905 Other accrued expenses 249,502 239,699 Total current liabilities 654,501 660,671 Long-term debt 470,551 470,047 Operating lease liabilities 1,243,276 1,254,955 Other noncurrent liabilities 136,874 136,648 Total liabilities 2,505,202 2,522,321 Commitments and contingencies (Note 7) Stockholders' equity: Preferred stock, $ .01 par value, 5,000,000 shares authorized; none issued — — Common stock, $ .01 par value, 250,000,000 shares authorized; 107,875,007 shares issued and 50,972,401 shares outstanding at April 2, 2024 and 107,195,287 shares issued and 50,652,129 shares outstanding at January 2, 2024 1,079 1,072 Additional paid-in capital 921,133 913,442 Retained earnings 1,235,666 1,216,239 Treasury stock inclusive of excise tax, 56,902,606 and 56,543,158 shares at cost at April 2, 2024 and January 2, 2024, respectively ( 1,824,493 ) ( 1,811,997 ) Accumulated other comprehensive loss ( 947 ) ( 694 ) Total stockholders' equity 332,438 318,062 Total liabilities and sto