2021 Form 10-K Financial Statement

#000160636622000014 Filed on March 11, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $454.4M $110.3M $426.1M
YoY Change 6.64% 2.56% -3.67%
Cost Of Revenue $224.7M $56.70M $213.2M
YoY Change 5.39% 2.53% -5.66%
Gross Profit $229.7M $53.70M $212.9M
YoY Change 7.87% 2.68% -1.62%
Gross Profit Margin 50.55% 48.69% 49.97%
Selling, General & Admin $170.0M $41.10M $157.2M
YoY Change 8.13% 5.38% -1.75%
% of Gross Profit 74.01% 76.54% 73.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.18M $4.250M $16.88M
YoY Change -10.08% -1.16% -5.47%
% of Gross Profit 6.61% 7.91% 7.93%
Operating Expenses $185.2M $45.30M $174.1M
YoY Change 6.35% 4.86% -2.08%
Operating Profit $41.34M $8.400M $33.56M
YoY Change 23.18% 57.42% -12.45%
Interest Expense $1.824M -$700.0K $3.292M
YoY Change -44.59% -22.22% -10.71%
% of Operating Profit 4.41% -8.33% 9.81%
Other Income/Expense, Net -$58.00K -$100.0K -$100.0K
YoY Change -42.0% -50.0% 0.0%
Pretax Income $39.45M $7.400M $30.13M
YoY Change 30.96% 76.19% -12.89%
Income Tax $10.33M $2.000M $5.651M
% Of Pretax Income 26.19% 27.03% 18.76%
Net Earnings $29.12M $5.500M $24.47M
YoY Change 18.99% 57.23% -1.71%
Net Earnings / Revenue 6.41% 4.99% 5.74%
Basic Earnings Per Share $0.81 $0.70
Diluted Earnings Per Share $0.80 $151.1K $0.68
COMMON SHARES
Basic Shares Outstanding 35.97M 36.45M 35.19M
Diluted Shares Outstanding 36.45M 35.80M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.05M $13.20M $13.20M
YoY Change 127.62% 62.96% 62.96%
Cash & Equivalents $30.05M $13.22M $13.20M
Short-Term Investments
Other Short-Term Assets $3.732M $3.900M $3.900M
YoY Change -4.31% -31.58% -31.58%
Inventory $2.318M $2.100M $2.100M
Prepaid Expenses
Receivables $13.41M $10.00M $10.00M
Other Receivables $0.00 $2.500M $2.500M
Total Short-Term Assets $49.50M $31.67M $31.70M
YoY Change 56.16% 28.33% 28.34%
LONG-TERM ASSETS
Property, Plant & Equipment $249.3M $79.64M $258.4M
YoY Change -3.53% -13.22% -9.08%
Goodwill $248.7M
YoY Change 0.0%
Intangibles $61.89M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $4.437M $1.392M $4.600M
YoY Change -3.54% -14.6% -13.21%
Total Long-Term Assets $564.3M $573.6M $573.5M
YoY Change -1.61% -4.42% -4.43%
TOTAL ASSETS
Total Short-Term Assets $49.50M $31.67M $31.70M
Total Long-Term Assets $564.3M $573.6M $573.5M
Total Assets $613.8M $605.2M $605.2M
YoY Change 1.42% -3.13% -3.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.63M $7.472M $7.500M
YoY Change 41.68% 32.79% 33.93%
Accrued Expenses $57.77M $52.40M $52.40M
YoY Change 10.25% -12.67% -12.67%
Deferred Revenue $4.008M
YoY Change 33.33%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $143.0K $100.0K $100.0K
YoY Change 43.0%
Total Short-Term Liabilities $74.58M $66.41M $66.40M
YoY Change 12.32% -10.2% -10.27%
LONG-TERM LIABILITIES
Long-Term Debt $41.71M $64.50M $64.50M
YoY Change -35.33% -33.57% -33.57%
Other Long-Term Liabilities $181.4M $11.29M $191.5M
YoY Change -5.27% 98.84% -7.26%
Total Long-Term Liabilities $223.1M $11.29M $256.0M
YoY Change -12.84% 98.84% -15.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $74.58M $66.41M $66.40M
Total Long-Term Liabilities $223.1M $11.29M $256.0M
Total Liabilities $303.2M $327.6M $327.6M
YoY Change -7.46% -13.59% -13.61%
SHAREHOLDERS EQUITY
Retained Earnings -$61.51M
YoY Change -28.46%
Common Stock $339.9M
YoY Change 2.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $310.6M $277.6M $277.6M
YoY Change
Total Liabilities & Shareholders Equity $613.8M $605.2M $605.2M
YoY Change 1.42% -3.13% -3.14%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $29.12M $5.500M $24.47M
YoY Change 18.99% 57.23% -1.71%
Depreciation, Depletion And Amortization $15.18M $4.250M $16.88M
YoY Change -10.08% -1.16% -5.47%
Cash From Operating Activities $52.10M $7.030M $40.55M
YoY Change 28.49% 65.8% 12.21%
INVESTING ACTIVITIES
Capital Expenditures $17.04M -$2.340M $6.690M
YoY Change 154.72% -49.02% -56.67%
Acquisitions
YoY Change
Other Investing Activities $4.556M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$12.49M -$2.340M -$6.690M
YoY Change 86.62% -49.02% -37.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$866.0K -$5.866M
YoY Change -85.24% -112.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.79M -21.00M -28.71M
YoY Change -20.62% 475.34% 17.82%
NET CHANGE
Cash From Operating Activities 52.10M 7.030M 40.55M
Cash From Investing Activities -12.49M -2.340M -6.690M
Cash From Financing Activities -22.79M -21.00M -28.71M
Net Change In Cash 16.83M -16.31M 5.149M
YoY Change 226.8% 307.75% 367.67%
FREE CASH FLOW
Cash From Operating Activities $52.10M $7.030M $40.55M
Capital Expenditures $17.04M -$2.340M $6.690M
Free Cash Flow $35.06M $9.370M $33.86M
YoY Change 3.55% 6.12% 63.59%

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CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020 us-gaap Increase Decrease In Insurance Liabilities
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CY2019 us-gaap Increase Decrease In Insurance Liabilities
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CY2019 us-gaap Increase Decrease In Other Accrued Liabilities
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Proceeds From Secured Lines Of Credit
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CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2019 us-gaap Proceeds From Issuance Of Common Stock
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CY2020 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. DESCRIPTION OF BUSINESS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">El Pollo Loco Holdings, Inc. (“Holdings”) is a Delaware corporation headquartered in Costa Mesa, California. Holdings and its direct and indirect subsidiaries are collectively known as “we,” “us” or the “Company.” The Company’s activities are conducted principally through its indirect wholly-owned subsidiary, El Pollo Loco, Inc. (“EPL”), which develops, franchises, licenses and operates quick-service restaurants under the name El Pollo Loco ®. The restaurants, which are located principally in California but also in Arizona, Nevada, Texas, Utah and Louisiana, specialize in fire-grilling citrus-marinated chicken in a wide variety of contemporary Mexican and LA-inspired entrees, including specialty chicken burritos, chicken quesadillas, chicken tostada salads, chicken tortilla soup, variations on our Pollo Bowl®, Pollo Salads and our Pollo Fit entrees. At December 29, 2021, the Company operated 189 (141 in the greater Los Angeles area) and franchised 291 (135 in the greater Los Angeles area) El Pollo Loco restaurants. In addition, the Company currently licenses one restaurant in the Philippines. The Company’s largest stockholder is Trimaran Pollo Partners, L.L.C. (“LLC”), which is controlled by affiliates of Trimaran Capital, L.L.C. LLC acquired Chicken Acquisition Corp. (“CAC”), a predecessor of Holdings, on November 17, 2005 (the “Acquisition”) and has a 45.8% ownership interest as of December 29, 2021. LLC’s only material asset is its investment in Holdings.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">On April <span style="white-space:pre-wrap;">22, 2014, CAC, the LLC’s wholly owned subsidiary, Chicken Subsidiary Corp (“CSC”) and CSC’s wholly owned subsidiary, the former El Pollo Loco Holdings, Inc. (“Old Holdings”) entered into the following reorganization transactions: (i) Old Holdings merged with and into CSC with CSC continuing as the surviving corporation; (ii) CSC merged with and into CAC with CAC continuing as the surviving corporation and (iii) CAC renamed itself El Pollo Loco Holdings, Inc.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Holdings has no material assets or operations. Holdings and Holdings’ direct subsidiary, EPL Intermediate, Inc. (“Intermediate”), guarantee EPL’s 2018 Revolver (see Note 6, “Long-Term Debt”) on a full and unconditional basis and Intermediate has no subsidiaries other than EPL. EPL is a separate and distinct legal entity, and has no obligation to make funds available to Intermediate. EPL and Intermediate may pay dividends to Intermediate and to Holdings, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Company operates in one operating segment. All significant revenues relate to retail sales of food and beverages through either company or franchised restaurants.</p>
CY2021 us-gaap Number Of Operating Segments
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CY2021 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;margin:0pt;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and revenue and expenses during the period reported. Actual results could materially differ from those estimates. The Company’s significant estimates include estimates for impairment of goodwill, intangible assets and property and equipment, insurance reserves, lease accounting matters, stock-based compensation, tax receivable agreement (the “TRA”) liability, contingent liabilities and income tax valuation allowances.</p>
CY2021 loco Employee Expenses Leaves Of Absence And Overtime Covid19
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CY2021 loco Employee Retention Credit Covid19
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CY2021 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:12pt 0pt 12pt 0pt;">Concentration of Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed federally-insured limits. The Company has never experienced any losses related to these balances.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company had one supplier for which amounts due at December 29, 2021 totaled 26.1% of the Company’s accounts payable. As of December 30, 2020, the Company had two suppliers for which amounts due totaled 24.2% and 11.4% of the Company’s accounts payable. Purchases from the Company’s largest supplier totaled 27.1% of the Company’s purchases for fiscal 2021, 26.9% for fiscal 2020 and 29.0% for fiscal 2019 with no amounts payable at December 29, 2021 or December 30, 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">In fiscal 2021, 2020 and 2019, Company-operated and franchised restaurants in the greater Los Angeles area generated, in the aggregate, approximately 70.9%, 71.3%, and 70.5%, respectively, of total revenue. One franchisee accounted for 10.6% of total accounts receivable as of December 29, 2021, and one franchisee accounted for 11.5% of total accounts receivable as of December 30, 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Management believes the loss of the significant supplier or franchisee could have a material adverse effect on the Company’s consolidated results of operations and financial condition.</p>
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CY2020Q3 loco Loyalty Rewards Program Points Needed For One Reward
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CY2021Q4 loco Accrued Loyalty Rewards Program Liability Current
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CY2020Q4 loco Accrued Loyalty Rewards Program Liability Current
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P1Y
CY2021Q4 loco Number Of Commitment To Open Franchised Restaurants
NumberOfCommitmentToOpenFranchisedRestaurants
67
CY2021 us-gaap Advertising Expense
AdvertisingExpense
16100000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
15300000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
16100000
CY2021Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
3600000
CY2020Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
100000
CY2021Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
3600000
CY2021 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Leases</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company’s operations utilize property, facilities, equipment and vehicles. Buildings and facilities leased from others are primarily for restaurants and support facilities. Restaurants are operated under lease arrangements that generally provide for a fixed base rent and, in some instances, contingent rent based on a percentage of gross operating profit or net revenues more than a defined amount. Initial terms of land and restaurant building leases generally have terms of 20 years, exclusive of options to renew. ROU assets and operating and finance lease liabilities are recognized at the lease commencement date, which is the date the Company takes possession of the property. Operating and finance lease liabilities represent the present value of lease payments not yet paid. ROU assets represent the Company’s right to use an underlying asset and are based upon the operating and finance lease liabilities adjusted for prepayments or accrued lease payments, lease incentives, and impairment of ROU assets. To determine the present value of lease payments not yet paid, the Company estimates incremental borrowing rates corresponding to the lease term including reasonably certain renewal periods. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company’s leases generally have escalating rents over the term of the lease, and are recorded on a straight-line basis over the expected lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce the right-of-use asset related to the lease. These are amortized through the operating lease asset as reductions of expense over the lease term.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Operating and finance lease liabilities that are based on an index or rate are calculated using the prevailing index or rate at lease commencement. Subsequent escalations in the index or rate and contingent rental payments are recognized as variable lease expenses. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Leases of equipment primarily consist of restaurant equipment, computer systems and vehicles. The Company subleases facilities to certain franchisees and other non-related parties which are recorded on a straight-line basis. </p>
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P20Y
CY2020 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
2000000.0
CY2020 us-gaap Proceeds From Insurance Settlement Investing Activities
ProceedsFromInsuranceSettlementInvestingActivities
100000
CY2019 loco Recovery Of Securities Class Action Legal Cost
RecoveryOfSecuritiesClassActionLegalCost
10000000.0
CY2019Q4 loco Number Of Restaurant Sales
NumberOfRestaurantSales
3
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2021 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
100000
CY2014Q3 loco Percentage Of Operating Loss Carryforwards Tax Savings Payable To Pre Initial Public Offering Stockholders
PercentageOfOperatingLossCarryforwardsTaxSavingsPayableToPreInitialPublicOfferingStockholders
0.85
CY2021Q4 loco Tax Receivable Agreement Expected Payments
TaxReceivableAgreementExpectedPayments
1500000
CY2020Q4 loco Tax Receivable Agreement Expected Payments
TaxReceivableAgreementExpectedPayments
3100000
CY2021 loco Payment Related To Tax Receivable Agreement
PaymentRelatedToTaxReceivableAgreement
1700000
CY2020 loco Payment Related To Tax Receivable Agreement
PaymentRelatedToTaxReceivableAgreement
5200000
CY2020Q4 loco Minimum Alternate Tax Receivable Cares Act
MinimumAlternateTaxReceivableCaresAct
400000
CY2020 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
500000
CY2019 loco Payment Related To Tax Receivable Agreement
PaymentRelatedToTaxReceivableAgreement
5800000
CY2020Q4 loco Social Security Tax Employer Deferral Cares Act
SocialSecurityTaxEmployerDeferralCaresAct
4900000
CY2021Q4 loco Social Security Tax Employer Deferral Percentage Due By Current Fiscal Year Cares Act
SocialSecurityTaxEmployerDeferralPercentageDueByCurrentFiscalYearCaresAct
0.50
CY2021Q4 loco Social Security Tax Employer Deferral Percentage Due By Next Fiscal Year Cares Act
SocialSecurityTaxEmployerDeferralPercentageDueByNextFiscalYearCaresAct
0.50
CY2021Q4 loco Employee Retention Credit Cares Act
EmployeeRetentionCreditCaresAct
2400000
CY2021Q4 loco Employee Retention Credit Percentage Of Qualified Wages Paid For Refundable Payroll Tax Credit Cares Act
EmployeeRetentionCreditPercentageOfQualifiedWagesPaidForRefundablePayrollTaxCreditCaresAct
0.70
CY2021 loco Employee Retention Tax Credit
EmployeeRetentionTaxCredit
3400000
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
240670000
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
241006000
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
165002000
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
161364000
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
75668000
CY2020Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
79642000
CY2021 us-gaap Depreciation
Depreciation
15200000
CY2020 us-gaap Depreciation
Depreciation
16900000
CY2019 us-gaap Depreciation
Depreciation
17900000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
300000
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
3000000.0
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
300000
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P20Y
CY2021 loco Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
4
CY2021 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021 loco Number Of Restaurants Resulting In Impairment
NumberOfRestaurantsResultingInImpairment
2
CY2020 loco Impairmentof Rightof Use Assets
ImpairmentofRightofUseAssets
500000
CY2019 loco Impairmentof Rightof Use Assets
ImpairmentofRightofUseAssets
3200000
CY2019Q4 loco Number Of Restaurants Sold
NumberOfRestaurantsSold
4
CY2019Q4 loco Number Of Restaurant Closed
NumberOfRestaurantClosed
1
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
80000
CY2020 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
11000
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
59000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
27000
CY2019 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
27000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
27623000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
27805000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
27485000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
34000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
893000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
635000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
641000
CY2021 us-gaap Sublease Income
SubleaseIncome
3823000
CY2020 us-gaap Sublease Income
SubleaseIncome
3251000
CY2019 us-gaap Sublease Income
SubleaseIncome
2430000
CY2021 us-gaap Lease Cost
LeaseCost
24853000
CY2020 us-gaap Lease Cost
LeaseCost
25250000
CY2019 us-gaap Lease Cost
LeaseCost
25766000
CY2021 us-gaap Lease Cost
LeaseCost
24853000
CY2020 us-gaap Lease Cost
LeaseCost
25250000
CY2019 us-gaap Lease Cost
LeaseCost
25766000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
27498000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
24913000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
26450000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
148000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
39000
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
68000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17763000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5863000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10595000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
196000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1677000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
CY2021 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-4612000
CY2020 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-569000
CY2019 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-4731000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
190000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27866000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Next Twelve Months
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsNextTwelveMonths
3588000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
145000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
26115000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Two Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinTwoYears
3571000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
145000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
24013000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Three Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinThreeYears
3456000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
141000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
21773000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Four Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinFourYears
3106000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
108000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
19546000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Five Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinFiveYears
2789000
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1582000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
127306000
CY2021Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Thereafter
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsThereafter
23165000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2311000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
246619000
CY2021Q4 loco Lessee Operating Lease Minimum Sublease Income
LesseeOperatingLeaseMinimumSubleaseIncome
39675000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
456000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
55009000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1855000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
191610000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
143000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19959000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1712000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
171651000
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
400000
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
600000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
500000
CY2021 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
600000
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1054000
CY2020 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1257000
CY2019 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
377000
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4726000
CY2020Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5216000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4622000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4008000
CY2021Q4 loco Accrued Loyalty Rewards Program
AccruedLoyaltyRewardsProgram
687000
CY2020Q4 loco Accrued Loyalty Rewards Program
AccruedLoyaltyRewardsProgram
900000
CY2021Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
3635000
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
771000
CY2020Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
321000
CY2021Q4 loco Deferred Franchise And Development Fee Current
DeferredFranchiseAndDevelopmentFeeCurrent
637000
CY2020Q4 loco Deferred Franchise And Development Fee Current
DeferredFranchiseAndDevelopmentFeeCurrent
503000
CY2020Q4 loco Deferred Lease Payments Current
DeferredLeasePaymentsCurrent
1793000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4718000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4063000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
19796000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
16804000
CY2021Q4 loco Deferred Franchise And Development Fees
DeferredFranchiseAndDevelopmentFees
5691000
CY2020Q4 loco Deferred Franchise And Development Fees
DeferredFranchiseAndDevelopmentFees
5125000
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
396000
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1139000
CY2021Q4 loco Employer Social Security Tax Deferral Noncurrent
EmployerSocialSecurityTaxDeferralNoncurrent
2426000
CY2020Q4 loco Employer Social Security Tax Deferral Noncurrent
EmployerSocialSecurityTaxDeferralNoncurrent
4853000
CY2021Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
140000
CY2020Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
175000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8653000
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
11292000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7163000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
520000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2158000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1123000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
104000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9321000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1643000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
104000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
93000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3350000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
5991000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
918000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
658000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3587000
CY2021 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
1011000
CY2020 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
4008000
CY2019 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
9578000
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
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0.25
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5651000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9682000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.024
CY2021 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
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CY2020 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
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0.002
CY2019 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
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0.003
CY2021 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
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0.005
CY2020 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
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0.009
CY2019 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
EffectiveIncomeTaxRateReconciliationDeductionsWorkingOpportunityTaxCredit
0.008
CY2021 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
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-0.014
CY2020 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
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-0.066
CY2019 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
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-0.010
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0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.004
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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6200000
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0.85
CY2021 loco Income Tax Expense Benefit Tax Receivable Agreement
IncomeTaxExpenseBenefitTaxReceivableAgreement
100000
CY2020 loco Income Tax Expense Benefit Tax Receivable Agreement
IncomeTaxExpenseBenefitTaxReceivableAgreement
100000
CY2019 loco Income Tax Expense Benefit Tax Receivable Agreement
IncomeTaxExpenseBenefitTaxReceivableAgreement
-100000
CY2021 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
1700000
CY2020 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
5200000
CY2019 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
5800000
CY2019 us-gaap Defined Contribution Plan Cost Recognized
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