2 unchanged sentences
There were approximately 1,375 holders of record of our common stock at February 14, 2022, and we estimate there were approximately 172,200 beneficial stockholders on that date.
−Removed: Under the authorization by our Board to repurchase up to 56.0 million shares of our common stock, we have cumulatively repurchased 53.0 million shares at a total cost of $1,696.7 million through December 29, 2020 with 9,998 shares repurchased at a cost of $0.4 million during the fourth quarter of fiscal 2020 to satisfy tax withholding obligations on vested restricted share awards.
+Added: Under authorization by our Board to repurchase up to 56.0 million shares of our common stock, we have cumulatively repurchased 53.1 million shares at a total cost of $1,702.5 million through December 28, 2021 with 13,098 shares repurchased at a cost of $0.5 million during the fourth quarter of fiscal 2021 to satisfy tax withholding obligations on vested restricted share awards.
Our share repurchase authorization does not have an expiration date, does not require us to purchase a specific number of shares and may be modified, suspended or terminated at any time.
To preserve liquidity during the COVID-19 pandemic and in conjunction with the terms of our credit facility, in March 2020, our Board suspended share repurchases.
+Added: Our Board is actively evaluating share repurchase strategies for fiscal 2022.
The timing and number of shares repurchased are also subject to legal constraints and financial covenants under our credit facility that limit share repurchases based on a defined ratio.
10 unchanged sentences
September 29— November 2, 2021
−Removed: November 4 — December 1, 2020
+Added: November 3 — November 30, 2021
December 1 — December 28, 2021
2 unchanged sentences
Future decisions to pay or to increase or decrease dividends are at the discretion of the Board and will be dependent on our operating performance, financial condition, capital expenditure requirements, limitations on cash distributions pursuant to the terms and conditions of our credit facility and applicable law, and such other factors that the Board considers relevant.
−Removed: (See Item 1A — Risk Factors — Risks Related to Owning Our Stock — "
−Removed: Our stock price could be adversely affected if we are unable to continue to pay or if we are unable to increase dividends.")
−Removed: On April 20, 2020, as further discussed in Note 17 of Notes to Consolidated Financial Statements in Part IV, Item 15 of this report, to increase our liquidity given the impact of the COVID-19 pandemic on our operations, we issued 200,000 shares of Series A Convertible Preferred Stock, par value $0.01 per share (the "Series A preferred stock") for an aggregate purchase price of $200 million.
−Removed: During fiscal 2020, we recorded paid in-kind dividends of $13.5 million.
−Removed: Each holder of Series A preferred stock has the right, at its option, to convert its Series A preferred stock, in whole or in part, into fully paid and non-assessable shares of our common stock at a conversion price equal to $22.23 per share, subject to customary anti-dilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events and certain anti-dilutive offerings occurring through April 19, 2021.
−Removed: Pursuant to the terms of the Certificate of Designations, unless and until approval of our stockholders is obtained as contemplated by Nasdaq Listing Rules, no holder may convert shares of Series A preferred stock through either an optional or a mandatory conversion into shares of our common stock if and solely to the extent that such conversion would result in the holder beneficially owning in excess of 19.9% of then outstanding common stock.
−Removed: The Company has the right to settle any conversion in cash.
−Removed: After April 20, 2023 and subject to certain conditions, we may, at our option, require conversion of all of the outstanding shares of Series A preferred stock to common stock if, for at least 20 trading days during the 30 consecutive trading days immediately preceding the date we notify the holders of the Series A preferred stock of the election to convert, the closing price of the common stock is at least 200% of the conversion price.
−Removed: We will not exercise our right to mandatorily convert all outstanding shares of Series A preferred stock unless certain liquidity conditions with regard to the shares of common stock to be issued upon such conversion are satisfied.
−Removed: The shares of common stock issuable upon conversion of shares of the Series A preferred stock will be issued in reliance upon the exemption from registration in Section 3(a)(9) of the Securities Act.
−Removed: (See Note 12 and 17 of Notes to Consolidated Financial Statements in Part IV, Item 15 of this report for further discussion of our credit facility and stockholders' equity, respectively.)
+Added: Our Board is considering the reinstatement of our dividend program in fiscal 2022.
+Added: However, the decision to reinstate the dividend as well as the amount of any dividend have yet to be determined.
+Added: (See Item 1A — Risk Factors — “ Our stock price could be adversely affected if we continue to be unable to pay dividends or, if paid, if we are unable to increase dividends.”)
+Added: (See Note 12 of Notes to Consolidated Financial Statements in Part IV, Item 15 of this report for further discussion of our credit facility.)
Price Performance Graph
10 unchanged sentences
This graph shall not be deemed incorporated by reference by any general statement incorporating by reference this Annual Report on Form 10-K into any filing under the Securities Act of 1933 or under the Securities Exchange Act of 1934, except to the extent that the Company specifically incorporates this information by reference, and shall not otherwise be deemed filed under such Acts.
−Removed: SELECTED FINANCIAL DATA
−Removed: The following selected financial data should be read in conjunction with our consolidated financial statements and related notes thereto, and with Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
−Removed: Fiscal Year (1)
−Removed: (In thousands, except per share data)
−Removed: Statements of (Loss)/Income Data:
−Removed: Costs and expenses:
−Removed: Cost of sales
−Removed: Labor expenses
−Removed: Other operating costs and expenses
−Removed: General and administrative expenses
−Removed: Depreciation and amortization expenses
−Removed: Impairment of assets and lease termination expenses
−Removed: Acquisition-related costs
−Removed: Acquisition-related contingent consideration, compensation and amortization (benefit)/expenses
−Removed: Preopening costs
−Removed: Total costs and expenses
−Removed: (Loss)/income from operations
−Removed: Gain/(loss) on investments in unconsolidated affiliates
−Removed: Interest and other expense, net
−Removed: (Loss)/income before income taxes
−Removed: Income tax (benefit)/provision
−Removed: Net (loss)/income
−Removed: Dividends on Series A preferred stock
−Removed: Direct and incremental Series A preferred stock issuance costs
−Removed: Net (loss)/income available to common stockholders
−Removed: Net (loss)/income per common share:
−Removed: Weighted-average shares outstanding:
−Removed: Cash dividends declared per common share
−Removed: Balance Sheet Data (at end of period):
−Removed: Cash and cash equivalents
−Removed: Total long-term debt and deemed landlord financing liability, including current portion
−Removed: Total stockholders’ equity and Series A convertible preferred stock
−Removed: Restaurant Data:
−Removed: The Cheesecake Factory comparable restaurant sales
−Removed: The Cheesecake Factory restaurants open at year-end
−Removed: (1) Fiscal 2016 consisted of 53 weeks.
−Removed: All other fiscal years presented consisted of 52 weeks.
−Removed: The estimated impact of the 53rd week in fiscal 2016 was an increase in revenues and diluted net income per share of approximately $54.7 million and $0.07, respectively.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.