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  "documentTitle": "Cheesecake Factory | Investor Presentation Deck | 36 slides",
  "authorId": "cheesecake-factory",
  "authorName": "The Cheesecake Factory",
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  "presentationDate": "2025-02-01 00:00:00",
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      "text": "The Cheesecake Factory",
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      "text": "In addition to the results provided in accordance with the Generally Accepted Accounting Principles (\"GAAP\") in this presentation, the Company is providing non-GAAP measurements which present free cash flow, adjusted net income/(loss), adjusted diluted net income/(loss) per common share, adjusted net income margin and adjusted earnings before interest, tax, depreciation and amortization (\"EBITDA\"). The non-GAAP measurements are intended to supplement the presentation of the Company's financial results in accordance with GAAP. The Company believes that the presentation of these items provides additional information to facilitate the comparison of past and present financial results. These non-GAAP measures may not be comparable to similarly-titled measures used by other companies and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. We calculate these non-GAAP measures by eliminating from net income/(loss), diluted net income/(loss) per common share, net income margin and EBITDA the impact of items we do not consider indicative of our ongoing operations. Additionally, EBITDA and adjusted EBITDA exclude the impact of certain non-cash transactions. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our inclusion of these adjusted measures should not be construed as an indication that our future results will be unaffected by unusual or infrequent items. In the future, we may incur expenses or generate income similar to the adjusted items.",
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      "text": "(1) Free cash flow, EBITDA and Adjusted EBITDA may not add due to rounding.\n(2) A detailed breakdown of impairment of assets and lease termination expenses recorded can be found in the Selected Segment Information table in the 10-K and 10-Q.\n(3) Represents changes in the fair value of the deferred consideration and contingent consideration and compensation liabilities related to the North Italia and FRC acquisition, as well as amortization of acquired definite-lived licensing agreements.\n(4) Represents incremental costs associated with COVID-19 such as sick and vaccination pay, healthcare and meal benefits for furloughed staff members, additional sanitation and personal protective equipment.",
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      "text": "Fiscal Year Fiscal Quarter\n2019 2020 2021 2022 2023 2024 4Q23 4Q24\nNet income/(loss) $ 127,293 $(253,365) $ 72,373 $ 43,123 $ 101,351 $ 156,783 $ 12,681 $ 41,154\nDepreciation and amortization expenses 88,133 91,415 89,654 92,380 93,136 101,450 24,012 26,435\nInterest expense, net 3,209 10,543 11,625 7,488 10,160 10,107 2,937 2,137\nIncome tax expense/(benefit) 13,041 (102,671) (753) (10,231) (1,337) 14,264 (7,025) 4,182\nEBITDA(1) $ 231,676 $(254,078) $ 172,899 $ 132,760 $ 203,310 $ 282,604 $ 32,605 $ 73,908\nImpairment of assets and lease termination expenses(2) $ 18,247 $ 219,333 $ 18,139 $ 31,387 $ 29,464 $ 13,647 $ 27,827 $ 15,224\nLoss on investment in unconsolidated affiliates 13,439\nGain on investment in unconsolidated affiliates (52,672)\nAcquisition-related costs 5,270 2,699\nAcquisition-related contingent consideration, compensation and amortization expenses/(benefit) (3) 1,033 (3,872) 19,510 13,368 11,686 2,429 7,796 (858)\nStock-based compensation 19,373 21,350 22,988 24,426 25,781 29,962 6,931 8,466\nCOVID-19 related costs (4) 22,963 4,917\nAdjusted EBITDA(1) $ 236,366 $ 8,395 $ 238,453 $ 201,941 $ 270,241 $ 328,642 $ 75,159 $ 96,740",
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      "text": "Fiscal Year\n2019 2020 2021 2022 2023 2024\nCash flow from operations $ 218,761 $ 2,908 $ 213,006 $ 161,926 $ 218,401 $ 268,325\nCapital expenditures / investments 99,265 50,329 66,943 112,464 151,565 160,364\nFree cash flow(1) $ 119,496 $ (47,421) $ 146,063 $ 49,462 $ 66,836 $ 107,961",
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      "text": "NON-GAAP RECONCILIATIONS",
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