2024 Q1 Form 10-K Financial Statement

#000155837024001595 Filed on February 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $1.321B $1.164B $4.632B
YoY Change 12.51% 15.34% 15.36%
Cost Of Revenue $445.1M $395.8M $1.594B
YoY Change 8.37% 12.52% 15.65%
Gross Profit $876.1M $768.6M $3.038B
YoY Change 14.73% 16.84% 15.21%
Gross Profit Margin 66.31% 66.01% 65.59%
Selling, General & Admin $507.7M $461.3M $1.840B
YoY Change 10.63% 15.65% 14.51%
% of Gross Profit 57.94% 60.01% 60.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.49M $40.40M $153.2M
YoY Change 14.54% 13.93% 11.63%
% of Gross Profit 4.74% 5.26% 5.04%
Operating Expenses $742.8M $684.7M $2.684B
YoY Change 12.1% 16.47% 15.92%
Operating Profit $133.1M $83.92M $354.3M
YoY Change 31.88% 20.03% 10.64%
Interest Expense $1.408M $424.0K $4.335M
YoY Change 13.73% -54.06% -3595.97%
% of Operating Profit 1.06% 0.51% 1.22%
Other Income/Expense, Net
YoY Change
Pretax Income $134.8M $84.20M $358.3M
YoY Change 30.95% 20.67% 11.52%
Income Tax $18.80M $9.175M $44.65M
% Of Pretax Income 13.95% 10.9% 12.46%
Net Earnings $116.0M $72.43M $304.9M
YoY Change 34.27% 20.98% 12.99%
Net Earnings / Revenue 8.78% 6.22% 6.58%
Basic Earnings Per Share $1.69 $4.56
Diluted Earnings Per Share $1.69 $1.08 $4.54
COMMON SHARES
Basic Shares Outstanding 66.83M 66.78M 66.89M
Diluted Shares Outstanding 67.11M 67.15M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.4M $104.2M $104.2M
YoY Change 36.69% -40.04% -40.04%
Cash & Equivalents $213.4M $104.2M $104.2M
Short-Term Investments
Other Short-Term Assets $38.68M $252.2M $252.2M
YoY Change 12.98% 626.86% 626.86%
Inventory $38.38M $38.32M $38.32M
Prepaid Expenses
Receivables $53.91M $175.5M $175.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $344.4M $356.5M $356.5M
YoY Change 28.16% -10.17% -10.17%
LONG-TERM ASSETS
Property, Plant & Equipment $1.500B $2.169B $2.169B
YoY Change 14.42% 70.72% 14.11%
Goodwill $169.7M $169.7M
YoY Change 0.03% 14.09%
Intangibles $2.928M $3.483M
YoY Change -50.03% -37.88%
Long-Term Investments
YoY Change
Other Assets $97.80M $95.00M $95.00M
YoY Change 28.05% 28.59% 28.59%
Total Long-Term Assets $2.486B $2.437B $2.437B
YoY Change 12.69% 14.47% 14.47%
TOTAL ASSETS
Total Short-Term Assets $344.4M $356.5M $356.5M
Total Long-Term Assets $2.486B $2.437B $2.437B
Total Assets $2.830B $2.793B $2.793B
YoY Change 14.37% 10.6% 10.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.3M $131.6M $131.6M
YoY Change 23.24% 24.7% 24.7%
Accrued Expenses $264.7M $743.5M $743.5M
YoY Change 16.19% 253.01% 253.01%
Deferred Revenue $266.5M $373.9M
YoY Change 10.7% 11.48%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $686.4M $1.489B $1.489B
YoY Change 16.72% 128.36% 128.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $121.6M $147.0M $147.0M
YoY Change 32.12% 64.82% -81.04%
Total Long-Term Liabilities $121.6M $147.0M $147.0M
YoY Change 32.12% 5.6% -82.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $686.4M $1.489B $1.489B
Total Long-Term Liabilities $121.6M $147.0M $147.0M
Total Liabilities $1.607B $1.652B $1.652B
YoY Change 14.45% 10.26% 9.17%
SHAREHOLDERS EQUITY
Retained Earnings $1.207B $1.142B
YoY Change 15.08% 14.22%
Common Stock $67.00K $67.00K
YoY Change -98.94% -99.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.207B $1.142B $1.142B
YoY Change
Total Liabilities & Shareholders Equity $2.830B $2.793B $2.793B
YoY Change 14.37% 10.6% 10.6%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $116.0M $72.43M $304.9M
YoY Change 34.27% 20.98% 12.99%
Depreciation, Depletion And Amortization $41.49M $40.40M $153.2M
YoY Change 14.54% 13.93% 11.63%
Cash From Operating Activities $243.4M $174.3M $565.0M
YoY Change 28.82% 49.38% 10.41%
INVESTING ACTIVITIES
Capital Expenditures $77.67M $103.1M $347.0M
YoY Change 16.39% 43.39% 41.0%
Acquisitions $0.00 $39.15M
YoY Change -100.0% 18.4%
Other Investing Activities $2.980M $9.467M -$20.13M
YoY Change -108.15% 149.13% 14.31%
Cash From Investing Activities -$74.69M -$93.67M -$367.2M
YoY Change -27.69% 37.49% 39.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$49.99M
YoY Change -123.48%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.57M -45.63M -267.4M
YoY Change -42.39% -23.94% -34.74%
NET CHANGE
Cash From Operating Activities 243.4M 174.3M 565.0M
Cash From Investing Activities -74.69M -93.67M -367.2M
Cash From Financing Activities -59.57M -45.63M -267.4M
Net Change In Cash 109.2M 34.99M -69.62M
YoY Change -716.22% -405.44% -56.97%
FREE CASH FLOW
Cash From Operating Activities $243.4M $174.3M $565.0M
Capital Expenditures $77.67M $103.1M $347.0M
Free Cash Flow $165.8M $71.15M $218.0M
YoY Change 35.6% 59.03% -17.94%

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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;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">(1) Description of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 10pt 0pt;">Texas Roadhouse, Inc. and subsidiaries (collectively, the "Company," "we," "our" and/or "us"), <span style="white-space:pre-wrap;">is a growing restaurant company operating predominantly in the casual dining segment. Our late founder, W. Kent Taylor, started the business in 1993 with the opening of the first Texas Roadhouse restaurant in Clarksville, Indiana. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 10pt 0pt;">The Company maintains three<span style="white-space:pre-wrap;"> restaurant concepts operating as Texas Roadhouse, Bubba’s 33 and Jaggers. As of December 26, 2023, we owned and operated </span>635 restaurants and franchised an additional 106 restaurants in 49 states and ten<span style="white-space:pre-wrap;"> foreign countries. Of the </span>106 franchise restaurants, there were 58 domestic and 48<span style="white-space:pre-wrap;"> international restaurants. As of December 27, 2022, we owned and operated </span>597 restaurants and franchised an additional 100 restaurants in 49 states and ten<span style="white-space:pre-wrap;"> foreign countries. Of the </span>100 franchise restaurants, 62 were domestic and 38 were international restaurants.</p>
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CY2022Q4 us-gaap Number Of Countries In Which Entity Operates
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CY2023 us-gaap Fiscal Period
FiscalPeriod
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><span style="font-style:italic;font-weight:bold;">Fiscal Year</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 10pt 0pt;">We utilize a <span style="-sec-ix-hidden:Hidden_pmalBSxZDk2I6DO0i_iz2A;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">52</span></span> or <span style="-sec-ix-hidden:Hidden_g4g1sCOVEEeM2TXIn8WnuA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">53 week</span></span><span style="white-space:pre-wrap;"> accounting period that typically ends on the last Tuesday in December. We utilize a </span><span style="-sec-ix-hidden:Hidden_H_QUX4NM8E6l3-r6b_77TQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">13</span></span> week accounting period for quarterly reporting purposes, except in years containing <span style="-sec-ix-hidden:Hidden_qEhkJNGDikSgHoqtOycPcw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">53 weeks</span></span> when the fourth quarter contains <span style="-sec-ix-hidden:Hidden_KUriJl61p06-vowNGzNHOw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">14</span></span> <span style="white-space:pre-wrap;">weeks. Fiscal years 2023, 2022 and 2021 were </span>52<span style="white-space:pre-wrap;"> weeks in length. </span> </p>
CY2021 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2022 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2023 us-gaap Fiscal Period Duration
FiscalPeriodDuration
P364D
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20.15pt;margin:0pt 0pt 10pt 0pt;"><span style="white-space:pre-wrap;">We have made a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reporting of revenue and expenses during the period to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP"). Significant items subject to such estimates and assumptions include the valuation of property and equipment, goodwill, lease liabilities and right-of-use assets, obligations related to insurance reserves, legal reserves, income taxes and gift card breakage. Actual results could differ from those estimates.</span></p>
CY2023Q4 us-gaap Credit Card Receivables
CreditCardReceivables
27800000
CY2022Q4 us-gaap Credit Card Receivables
CreditCardReceivables
22000000.0
CY2023 us-gaap Threshold Period Past Due For Writeoff Of Trade Accounts Receivable
ThresholdPeriodPastDueForWriteoffOfTradeAccountsReceivable
P120D
CY2023Q4 txrh Capitalized Cloud Compounding Implementation Cost Net
CapitalizedCloudCompoundingImplementationCostNet
3000000.0
CY2022Q4 txrh Capitalized Cloud Compounding Implementation Cost Net
CapitalizedCloudCompoundingImplementationCostNet
1900000
CY2023 txrh Amortization Expense On Cloud Compounding Implementation Cost
AmortizationExpenseOnCloudCompoundingImplementationCost
1400000
CY2022 txrh Amortization Expense On Cloud Compounding Implementation Cost
AmortizationExpenseOnCloudCompoundingImplementationCost
1000000.0
CY2021 txrh Amortization Expense On Cloud Compounding Implementation Cost
AmortizationExpenseOnCloudCompoundingImplementationCost
200000
CY2022Q4 txrh Self Insurance Reserve Limit Employee Healthcare
SelfInsuranceReserveLimitEmployeeHealthcare
400000000
CY2023 txrh Initial Retention Amount On General Liability Claims
InitialRetentionAmountOnGeneralLiabilityClaims
2500000000
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2023Q4 txrh Self Insurance Reserve Limit Employee Practices Liability
SelfInsuranceReserveLimitEmployeePracticesLiability
500000000
CY2022Q4 txrh Self Insurance Reserve Limit Employee Practices Liability
SelfInsuranceReserveLimitEmployeePracticesLiability
500000000
CY2023Q4 txrh Self Insurance Reserve Limit Employee Practices Class Action
SelfInsuranceReserveLimitEmployeePracticesClassAction
2500000000
CY2022Q4 txrh Self Insurance Reserve Limit Employee Practices Class Action
SelfInsuranceReserveLimitEmployeePracticesClassAction
2500000000
CY2023Q4 txrh Self Insurance Reserve Limit Workers Compensation
SelfInsuranceReserveLimitWorkersCompensation
350000000
CY2022Q4 txrh Self Insurance Reserve Limit Workers Compensation
SelfInsuranceReserveLimitWorkersCompensation
350000000
CY2023Q4 txrh Self Insurance Reserve Limit General Liability
SelfInsuranceReserveLimitGeneralLiability
2500000000
CY2022Q4 txrh Self Insurance Reserve Limit General Liability
SelfInsuranceReserveLimitGeneralLiability
2500000000
CY2023Q4 txrh Self Insurance Reserve Limit Property
SelfInsuranceReserveLimitProperty
250000000
CY2022Q4 txrh Self Insurance Reserve Limit Property
SelfInsuranceReserveLimitProperty
250000000
CY2023Q4 txrh Self Insurance Reserve Limit Employee Healthcare
SelfInsuranceReserveLimitEmployeeHealthcare
400000000
CY2021Q4 us-gaap Goodwill
Goodwill
127001000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2023 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
28300000
CY2022 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
25000000.0
CY2021 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
21100000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1520000
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
21731000
CY2022 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
6900000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2813000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4631672000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4014919000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3463946000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
335403000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
300657000
CY2023 txrh Contract With Customer Liability Gift Card Activations
ContractWithCustomerLiabilityGiftCardActivations
420047000
CY2022 txrh Contract With Customer Liability Gift Card Activations
ContractWithCustomerLiabilityGiftCardActivations
366606000
CY2023 txrh Contract With Customer Liability Gift Card Redemptions And Breakage
ContractWithCustomerLiabilityGiftCardRedemptionsAndBreakage
-381537000
CY2022 txrh Contract With Customer Liability Gift Card Redemptions And Breakage
ContractWithCustomerLiabilityGiftCardRedemptionsAndBreakage
-331860000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
373913000
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
335403000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2553577000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2238385000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1078855000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
968036000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1474722000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1270349000
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
500000
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1300000
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000
CY2022Q4 us-gaap Goodwill
Goodwill
148732000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5607000
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
20952000
CY2023 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
900000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3024000
CY2023Q4 us-gaap Goodwill
Goodwill
169684000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3483000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24400000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20900000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
23500000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17900000
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P1Y
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
694014000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27411000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
743476000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
770887000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
630258000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25490000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
677874000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
703364000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
75068000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
68742000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
5079000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
4393000
CY2023 us-gaap Lease Cost
LeaseCost
80147000
CY2022 us-gaap Lease Cost
LeaseCost
73135000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
68755000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
63269000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
83310000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
54666000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y8M15D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y6M25D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0649
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0634
CY2023Q4 txrh Operating Lease Payments Minimum Lease Payments Excluded Not Yet Taken Possession Of Leases Real Estate
OperatingLeasePaymentsMinimumLeasePaymentsExcludedNotYetTakenPossessionOfLeasesRealEstate
39200000
CY2023 txrh Number Of Finance Leases
NumberOfFinanceLeases
2
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2000000.0
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2800000
CY2022 txrh Number Of Finance Leases
NumberOfFinanceLeases
2
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2100000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2700000
CY2023Q4 txrh Sale Leaseback Transaction Number
SaleLeasebackTransactionNumber
6
CY2023 us-gaap Proceeds From Sale Of Lease Receivables
ProceedsFromSaleOfLeaseReceivables
16300000
CY2022Q4 txrh Sale Leaseback Transaction Number
SaleLeasebackTransactionNumber
4
CY2022 us-gaap Proceeds From Sale Of Lease Receivables
ProceedsFromSaleOfLeaseReceivables
12900000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.037
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.038
CY2023 txrh Effective Income Tax Rate Reconciliation Tax Credits Fica Tip
EffectiveIncomeTaxRateReconciliationTaxCreditsFICATip
0.111
CY2022 txrh Effective Income Tax Rate Reconciliation Tax Credits Fica Tip
EffectiveIncomeTaxRateReconciliationTaxCreditsFICATip
0.105
CY2021 txrh Effective Income Tax Rate Reconciliation Tax Credits Fica Tip
EffectiveIncomeTaxRateReconciliationTaxCreditsFICATip
0.093
CY2023 txrh Effective Income Tax Rate Reconciliation Tax Credits Work Opportunity
EffectiveIncomeTaxRateReconciliationTaxCreditsWorkOpportunity
0.010
CY2022 txrh Effective Income Tax Rate Reconciliation Tax Credits Work Opportunity
EffectiveIncomeTaxRateReconciliationTaxCreditsWorkOpportunity
0.013
CY2021 txrh Effective Income Tax Rate Reconciliation Tax Credits Work Opportunity
EffectiveIncomeTaxRateReconciliationTaxCreditsWorkOpportunity
0.012
CY2023 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.005
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.001
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
21694000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
15549000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
16700000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19105000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
18120000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
13539000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
735000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
590000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
443000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
41534000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
34259000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
30682000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
4518000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
9664000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
7391000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1403000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-208000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1505000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3115000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9456000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8896000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44649000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
43715000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
39578000
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
0.036
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.015
CY2023 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.004
CY2022 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Minority Interest Income Expense
EffectiveIncomeTaxRateReconciliationMinorityInterestIncomeExpense
0.005
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.006
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.007
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.011
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.005
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.136
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.135
CY2023Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
32999000
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
29889000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
8351000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
6506000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
1884000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
1060000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
5241000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
5059000
CY2023Q4 txrh Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Operating Lease Right Of Use Assets And Lease Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOperatingLeaseRightOfUseAssetsAndLeaseLiabilities
191422000
CY2022Q4 txrh Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Operating Lease Right Of Use Assets And Lease Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOperatingLeaseRightOfUseAssetsAndLeaseLiabilities
173853000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
21697000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
17934000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
45000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
2740000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3907000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2991000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
265546000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
240032000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
90638000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
82832000
CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
9116000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
8374000
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
171999000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
155837000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
16897000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
13968000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
288650000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
261011000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
23104000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
20979000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1528000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1545000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
872000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
20000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3925000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
964000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
139000
CY2023 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
246000
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4782000
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2500000
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2100000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2022Q4 txrh Preferred Stock Series Number Minimum
PreferredStockSeriesNumberMinimum
1
CY2023Q4 txrh Preferred Stock Series Number Minimum
PreferredStockSeriesNumberMinimum
1
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000.0
CY2023 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50000000.0
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
455026
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
212900000
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2734005
CY2023Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
116900000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
304876000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
269818000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
245294000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66893000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67643000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69709000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.56
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.99
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.52
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66893000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67643000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69709000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
256000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
277000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
389000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67149000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67920000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70098000
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.54
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.97
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.50
CY2023Q4 txrh Capital Project Commitment Estimated Cost
CapitalProjectCommitmentEstimatedCost
237400000
CY2022Q4 txrh Capital Project Commitment Estimated Cost
CapitalProjectCommitmentEstimatedCost
205700000
CY2023Q4 txrh Number Of Significant Beef Suppliers
NumberOfSignificantBeefSuppliers
4
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34230000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36663000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
38139000
CY2023 txrh Fair Value Assets Transfers Amount
FairValueAssetsTransfersAmount
0
CY2023 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
300000
CY2022 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1600000
CY2021 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
700000
CY2023 txrh Ongoing Closure Costs
OngoingClosureCosts
300000
CY2022 txrh Ongoing Closure Costs
OngoingClosureCosts
600000
CY2022 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
700000
CY2023 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
3896590000
CY2023 txrh Restaurant Margin
RestaurantMargin
707964000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
153202000
CY2023Q4 us-gaap Assets
Assets
2793376000
CY2023 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
347034000
CY2022 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
3361290000
CY2022 txrh Restaurant Margin
RestaurantMargin
627501000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
137237000
CY2022Q4 us-gaap Assets
Assets
2525665000
CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
246121000
CY2021 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
2857444000
CY2021 txrh Restaurant Margin
RestaurantMargin
581732000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
126761000
CY2021Q4 us-gaap Assets
Assets
2511952000
CY2021 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
200692000
CY2023 txrh Restaurant Margin
RestaurantMargin
707964000
CY2022 txrh Restaurant Margin
RestaurantMargin
627501000
CY2021 txrh Restaurant Margin
RestaurantMargin
581732000
CY2023 us-gaap Pre Opening Costs
PreOpeningCosts
29234000
CY2022 us-gaap Pre Opening Costs
PreOpeningCosts
21883000
CY2021 us-gaap Pre Opening Costs
PreOpeningCosts
24335000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
153202000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
137237000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
126761000
CY2023 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
275000
CY2022 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1600000
CY2021 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
734000
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
198382000
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
172712000
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
157480000
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
353989000
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
320197000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
297192000

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