2024 Q1 Form 10-K Financial Statement

#000160636624000013 Filed on March 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $116.2M $112.2M $468.7M
YoY Change 1.42% -3.17% -0.28%
Cost Of Revenue $56.20M $55.66M $235.5M
YoY Change -3.34% -7.23% -5.25%
Gross Profit $59.95M $56.59M $233.2M
YoY Change 6.33% 1.19% 5.31%
Gross Profit Margin 51.62% 50.42% 49.75%
Selling, General & Admin $46.37M $44.52M $181.8M
YoY Change 2.79% 2.67% 3.03%
% of Gross Profit 77.34% 78.67% 77.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.851M $3.958M $15.24M
YoY Change 5.88% 7.76% 5.67%
% of Gross Profit 6.42% 6.99% 6.53%
Operating Expenses $50.22M $48.48M $197.1M
YoY Change 3.02% 3.07% 3.23%
Operating Profit $9.679M $8.115M $39.79M
YoY Change 24.87% -8.77% 32.11%
Interest Expense $1.564M -$1.449M $4.811M
YoY Change 55.78% 101.25% 186.88%
% of Operating Profit 16.16% -17.86% 12.09%
Other Income/Expense, Net $2.000K -$103.0K
YoY Change -97.8% -123.62%
Pretax Income $8.115M $6.014M $34.88M
YoY Change 18.14% -32.26% 20.77%
Income Tax $2.200M $1.663M $9.324M
% Of Pretax Income 27.11% 27.65% 26.73%
Net Earnings $5.912M $4.351M $25.55M
YoY Change 20.21% -33.43% 22.85%
Net Earnings / Revenue 5.09% 3.88% 5.45%
Basic Earnings Per Share $0.19 $0.75
Diluted Earnings Per Share $0.19 $0.14 $0.74
COMMON SHARES
Basic Shares Outstanding 31.28M 32.95M 34.25M
Diluted Shares Outstanding 30.94M 34.37M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.121M $7.288M $7.288M
YoY Change 90.46% -64.44% -64.44%
Cash & Equivalents $9.100M $7.300M $7.288M
Short-Term Investments
Other Short-Term Assets $5.361M $5.634M $5.634M
YoY Change 13.22% 53.85% 53.85%
Inventory $1.736M $1.911M $1.911M
Prepaid Expenses
Receivables $10.61M $10.15M $10.15M
Other Receivables $0.00 $153.0K $153.0K
Total Short-Term Assets $26.83M $25.13M $25.13M
YoY Change 12.1% -32.88% -32.88%
LONG-TERM ASSETS
Property, Plant & Equipment $86.30M $84.03M $253.6M
YoY Change 7.44% 6.84% 3.17%
Goodwill $248.7M $248.7M
YoY Change 0.0% 0.0%
Intangibles $61.89M $61.89M
YoY Change 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $3.063M $3.043M $3.043M
YoY Change 4.61% 3.68% -11.72%
Total Long-Term Assets $571.2M $567.2M $567.2M
YoY Change 0.85% 1.32% 1.32%
TOTAL ASSETS
Total Short-Term Assets $26.83M $25.13M $25.13M
Total Long-Term Assets $571.2M $567.2M $567.2M
Total Assets $598.0M $592.3M $592.3M
YoY Change 1.3% -0.82% -0.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.88M $12.54M $12.54M
YoY Change 1.49% -1.57% -1.57%
Accrued Expenses $56.99M $56.16M $56.16M
YoY Change 13.91% 4.99% 4.99%
Deferred Revenue $4.497M $4.877M
YoY Change 6.64% 4.5%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $168.0K $140.0K $140.0K
YoY Change 52.73% 27.27% 27.27%
Total Short-Term Liabilities $75.22M $72.58M $72.58M
YoY Change 17.38% 5.94% 5.94%
LONG-TERM LIABILITIES
Long-Term Debt $81.70M $85.62M $85.62M
YoY Change 37.09% 26.6% 26.6%
Other Long-Term Liabilities $6.380M $6.445M $174.5M
YoY Change 7.55% 10.06% 1.82%
Total Long-Term Liabilities $6.380M $6.445M $260.1M
YoY Change 7.55% 10.06% 8.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $75.22M $72.58M $72.58M
Total Long-Term Liabilities $6.380M $6.445M $260.1M
Total Liabilities $341.7M $341.6M $341.6M
YoY Change 10.31% 8.08% 8.08%
SHAREHOLDERS EQUITY
Retained Earnings $19.87M $13.96M
YoY Change -397.78% -220.45%
Common Stock $236.4M $236.7M
YoY Change -17.67% -19.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $256.3M $250.7M $250.7M
YoY Change
Total Liabilities & Shareholders Equity $598.0M $592.3M $592.3M
YoY Change 1.3% -0.82% -0.82%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $5.912M $4.351M $25.55M
YoY Change 20.21% -33.43% 22.85%
Depreciation, Depletion And Amortization $3.851M $3.958M $15.24M
YoY Change 5.88% 7.76% 5.67%
Cash From Operating Activities $11.16M $8.179M $40.69M
YoY Change 192.3% -50.85% 5.55%
INVESTING ACTIVITIES
Capital Expenditures $4.162M $6.035M $21.33M
YoY Change -30.4% -12.47% 7.1%
Acquisitions
YoY Change
Other Investing Activities $41.00K -$5.000K $7.885M
YoY Change -86.33% -100.5% 686.93%
Cash From Investing Activities -$4.121M -$6.035M -$13.45M
YoY Change -27.45% 2.41% -28.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $58.05M
YoY Change 3288.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.209M -8.671M -40.45M
YoY Change -62.37% -9.02% 38.58%
NET CHANGE
Cash From Operating Activities 11.16M 8.179M 40.69M
Cash From Investing Activities -4.121M -6.035M -13.45M
Cash From Financing Activities -5.209M -8.671M -40.45M
Net Change In Cash 1.833M -6.527M -13.21M
YoY Change -111.67% -635.88% 38.23%
FREE CASH FLOW
Cash From Operating Activities $11.16M $8.179M $40.69M
Capital Expenditures $4.162M $6.035M $21.33M
Free Cash Flow $7.001M $2.144M $19.36M
YoY Change -423.97% -78.0% 3.89%

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CY2023 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 referred to herein as 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, Colorado, 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 the Company’s Pollo Bowl®, Pollo Salads and Pollo Fit entrees. At December 27, 2023, the Company operated 172 (138 in the greater Los Angeles area) and franchised 323 (141 in the greater Los Angeles area) El Pollo Loco restaurants. In addition, the Company currently licenses five restaurants in the Philippines.</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 2022 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>
CY2023 us-gaap Number Of Operating Segments
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CY2023 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;margin:0pt 0pt 12pt 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, contingent liabilities and income tax valuation allowances.</p>
CY2023 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 27, 2023 totaled 15.14% of the Company’s accounts payable. As of December 28, 2022, the Company had one supplier for which the amount due totaled 41.7% of the Company’s accounts payable. Purchases from the Company’s largest supplier totaled 26.6% of the Company’s purchases for fiscal 2023, 28.5% for fiscal 2022 and 27.1% for fiscal 2021 with no amounts payable at December 27, 2023 or December 28, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">In fiscal 2023, 2022 and 2021, Company-operated and franchised restaurants in the greater Los Angeles area generated, in the aggregate, approximately 71.3%, 71.2%, and 70.9%, respectively, of total revenue. One franchisee accounted for 11.4% of total accounts receivable as of December 27, 2023, and one franchisee accounted for 12.9% of total accounts receivable as of December 28, 2022.</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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AccruedLoyaltyRewardsProgramLiabilityCurrent
500000
CY2023 loco Loyalty Rewards Program Expected Loyalty Points Redemption Period
LoyaltyRewardsProgramExpectedLoyaltyPointsRedemptionPeriod
P1Y
CY2023Q4 loco Number Of Franchised Restaurants Committed To Open
NumberOfFranchisedRestaurantsCommittedToOpen
107
CY2023 us-gaap Advertising Expense
AdvertisingExpense
16200000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
16400000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
16100000
CY2023Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
3000000.0
CY2022Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
800000
CY2023Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
3000000.0
CY2023 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>
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P20Y
CY2023 loco Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
4
CY2023 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023 loco Operating Lease Right Of Use Assets Impact Of Original Lease Classification
OperatingLeaseRightOfUseAssetsImpactOfOriginalLeaseClassification
0
CY2023 loco Number Of Restaurants Resulting In Impairment
NumberOfRestaurantsResultingInImpairment
1
CY2022 loco Number Of Restaurants Resulting In Impairment
NumberOfRestaurantsResultingInImpairment
1
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P20Y
CY2023 loco Gain On Recovery Of Insurance Proceeds For Property And Equipment
GainOnRecoveryOfInsuranceProceedsForPropertyAndEquipment
200000
CY2023 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
300000
CY2023 loco Proceeds From Insurance Settlement Net Investing Activities
ProceedsFromInsuranceSettlementNetInvestingActivities
500000
CY2023 loco Number Of Restaurants Sold
NumberOfRestaurantsSold
18
CY2023 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
7700000
CY2023 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
5000000.0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2014Q3 loco Percentage Of Operating Loss Carryforwards Tax Savings Payable To Pre Initial Public Offering Stockholders
PercentageOfOperatingLossCarryforwardsTaxSavingsPayableToPreInitialPublicOfferingStockholders
0.85
CY2023Q4 loco Tax Receivable Agreement Expected Payments
TaxReceivableAgreementExpectedPayments
400000
CY2022Q4 loco Tax Receivable Agreement Expected Payments
TaxReceivableAgreementExpectedPayments
700000
CY2022 loco Payment Related To Tax Receivable Agreement
PaymentRelatedToTaxReceivableAgreement
400000
CY2021 loco Payment Related To Tax Receivable Agreement
PaymentRelatedToTaxReceivableAgreement
1700000
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
CY2022Q4 loco Social Security Tax Employer Deferral Percentage Due By Next Fiscal Year Cares Act
SocialSecurityTaxEmployerDeferralPercentageDueByNextFiscalYearCaresAct
0.50
CY2023Q4 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
CY2022 loco Proceeds From Employee Retention Credit
ProceedsFromEmployeeRetentionCredit
3100000
CY2022Q4 loco Employee Retention Credit Receivable
EmployeeRetentionCreditReceivable
300000
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
400000
CY2021 loco Number Of Restaurants Resulting In Impairment
NumberOfRestaurantsResultingInImpairment
2
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
254275000
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
251931000
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
170248000
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
173287000
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
84027000
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
78644000
CY2023 us-gaap Depreciation
Depreciation
15200000
CY2022 us-gaap Depreciation
Depreciation
14400000
CY2021 us-gaap Depreciation
Depreciation
15200000
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1500000
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
400000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
300000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
154000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
25043000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Three Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinThreeYears
5034000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
144000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
23581000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Four Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinFourYears
4858000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
75000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
75000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
80000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
45000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
45000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
59000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
27984000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
27542000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
27623000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
8000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
1825000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1274000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
893000
CY2023 us-gaap Sublease Income
SubleaseIncome
5570000
CY2022 us-gaap Sublease Income
SubleaseIncome
4555000
CY2021 us-gaap Sublease Income
SubleaseIncome
3823000
CY2023 us-gaap Lease Cost
LeaseCost
24367000
CY2022 us-gaap Lease Cost
LeaseCost
24399000
CY2021 us-gaap Lease Cost
LeaseCost
24853000
CY2023 us-gaap Lease Cost
LeaseCost
24367000
CY2022 us-gaap Lease Cost
LeaseCost
24399000
CY2021 us-gaap Lease Cost
LeaseCost
24853000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
28156000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
28174000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
27498000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
158000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
162000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
148000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
21502000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13070000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17763000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
135000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
28000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
196000
CY2023 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-44000
CY2022 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-74000
CY2021 loco Right Of Use Asset De Recognition Termination Impairment Or Modifications
RightOfUseAssetDeRecognitionTerminationImpairmentOrModifications
-4612000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
191000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
28328000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Next Twelve Months
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsNextTwelveMonths
5886000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
187000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
27126000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Two Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinTwoYears
5518000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
103000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
21384000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rental Within Five Years
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalWithinFiveYears
4484000
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1376000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
118426000
CY2023Q4 loco Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Thereafter
OperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsThereafter
27854000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2155000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
243888000
CY2023Q4 loco Lessee Operating Lease Minimum Sublease Income
LesseeOperatingLeaseMinimumSubleaseIncome
53634000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
398000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
56314000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1757000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
187574000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
140000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
19490000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1617000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
168084000
CY2023 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
300000
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
400000
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
400000
CY2023 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
170000
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-143000
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1054000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3478000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
9321000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5229000
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
5270000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4877000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4667000
CY2023Q4 loco Accrued Loyalty Rewards Program
AccruedLoyaltyRewardsProgram
687000
CY2022Q4 loco Accrued Loyalty Rewards Program
AccruedLoyaltyRewardsProgram
526000
CY2023Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
3010000
CY2022Q4 us-gaap Accrued Advertising Current
AccruedAdvertisingCurrent
831000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
720000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1303000
CY2023Q4 loco Deferred Franchise And Development Fee Current
DeferredFranchiseAndDevelopmentFeeCurrent
586000
CY2022Q4 loco Deferred Franchise And Development Fee Current
DeferredFranchiseAndDevelopmentFeeCurrent
610000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3252000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1913000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
18361000
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
15120000
CY2023Q4 loco Deferred Franchise And Development Fees
DeferredFranchiseAndDevelopmentFees
6411000
CY2022Q4 loco Deferred Franchise And Development Fees
DeferredFranchiseAndDevelopmentFees
5767000
CY2023Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
34000
CY2022Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
89000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6445000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5856000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-29000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
2958000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
6572000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2366000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7163000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1846000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1112000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2158000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
8418000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
93000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
935000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1642000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
918000
CY2023 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
906000
CY2022 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
4600000
CY2021 loco Deferred Income Tax Expense Benefit Net Of Revaluations
DeferredIncomeTaxExpenseBenefitNetOfRevaluations
1011000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9324000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8078000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10332000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.064
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.077
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.059
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.193
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.001
CY2023 loco Effective Income Tax Rate Reconciliation State Credit Expiration
EffectiveIncomeTaxRateReconciliationStateCreditExpiration
-0.191
CY2023 loco Effective Income Tax Rate Reconciliation Tax Receivable Agreement Income Expenses Percent
EffectiveIncomeTaxRateReconciliationTaxReceivableAgreementIncomeExpensesPercent
0.001
CY2022 loco Effective Income Tax Rate Reconciliation Tax Receivable Agreement Income Expenses Percent
EffectiveIncomeTaxRateReconciliationTaxReceivableAgreementIncomeExpensesPercent
-0.003
CY2023 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
EffectiveIncomeTaxRateReconciliationTreasuryIssueToEmployeeAsCompensationPercent
0.006
CY2022 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
EffectiveIncomeTaxRateReconciliationTreasuryIssueToEmployeeAsCompensationPercent
0.005
CY2021 loco Effective Income Tax Rate Reconciliation Treasury Issue To Employee As Compensation Percent
EffectiveIncomeTaxRateReconciliationTreasuryIssueToEmployeeAsCompensationPercent
0.008
CY2023 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
EffectiveIncomeTaxRateReconciliationDeductionsWorkingOpportunityTaxCredit
-0.007
CY2022 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
EffectiveIncomeTaxRateReconciliationDeductionsWorkingOpportunityTaxCredit
-0.009
CY2021 loco Effective Income Tax Rate Reconciliation Deductions Working Opportunity Tax Credit
EffectiveIncomeTaxRateReconciliationDeductionsWorkingOpportunityTaxCredit
-0.005
CY2023 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
EffectiveIncomeTaxRateReconciliationShareBasedCompensationOptionExercises
0.001
CY2022 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
EffectiveIncomeTaxRateReconciliationShareBasedCompensationOptionExercises
0.003
CY2021 loco Effective Income Tax Rate Reconciliation Share Based Compensation Option Exercises
EffectiveIncomeTaxRateReconciliationShareBasedCompensationOptionExercises
-0.014
CY2023 loco Effective Income Tax Rate Reconciliation Deferred Tax Liability True Up
EffectiveIncomeTaxRateReconciliationDeferredTaxLiabilityTrueUp
-0.011
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.005
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.003
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.267
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.262
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
100000
CY2014Q3 loco Percentage Of Operating Loss Carryforwards Tax Savings Payable To Pre Initial Public Offering Stockholders
PercentageOfOperatingLossCarryforwardsTaxSavingsPayableToPreInitialPublicOfferingStockholders
0.85
CY2023 loco Income Tax Expense Benefit Tax Receivable Agreement
IncomeTaxExpenseBenefitTaxReceivableAgreement
100000
CY2022 loco Income Tax Expense Benefit Tax Receivable Agreement
IncomeTaxExpenseBenefitTaxReceivableAgreement
-400000
CY2023 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
300000
CY2022 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
400000
CY2021 loco Payment To Stockholders Under Tax Receivable Agreement
PaymentToStockholdersUnderTaxReceivableAgreement
1700000
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