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Prepaid expenses and other current assets

155,879

152,308

18,727

14,573

Deferred income taxes

2,252

2,320

Total current assets

382,210

355,740

Property and equipment

2,050,593

2,011,845

Less: Accumulated depreciation and amortization of capital leases

961,981

931,656

Property and equipment - net

1,088,612

1,080,189

Other assets

64,069

61,735

Total assets

1,534,891

1,497,664

Current Liabilities:

Accounts payable

100,388

132,493

Taxes withheld and accrued

27,668

37,561

Income taxes payable

1,632

Deferred revenues

96,848

64,028

Other current liabilities

133,099

134,735

Total current liabilities

359,635

368,817

Long-term debt

400,000

Long-term interest rate swap liability

6,538

22,070

Other long-term obligations

126,607

126,608

Deferred income taxes

60,394

53,726

Commitments and Contingencies (Note 11)

Shareholders' Equity:

Preferred stock - 100,000,000 shares of $.01 par value authorized; 300,000 shares designated as Series A Junior Participating Preferred Stock; no shares issued

Common stock - 400,000,000 shares of $.01 par value authorized; 24,042,573 shares issued and outstanding at January 27, 2017, and 23,956,134 shares issued and outstanding at July 29, 2016

240

Additional paid-in capital

50,645

51,462

Accumulated other comprehensive loss

(2,933)

(13,740)

Retained earnings

533,765

488,481

Total shareholders' equity

581,717

526,443

Total liabilities and shareholders' equity

$ 1,534,891

$ 1,497,664

[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 29, 2016, as filed with the Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended July 29, 2016.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 27, 2017	Jul. 29, 2016
Shareholders' Equity:
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	24,042,573	23,956,134
Common stock, shares outstanding (in shares)	24,042,573	23,956,134
Series A Junior Participating Preferred Stock [Member]
Shareholders' Equity:
Preferred stock, shares authorized (in shares)	300,000	300,000

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2017	Jan. 29, 2016	Jan. 27, 2017	Jan. 29, 2016
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract]
Total revenue	$ 772,682	$ 764,002	$ 1,482,653	$ 1,466,631
Cost of goods sold (exclusive of depreciation and rent)	254,920	264,932	468,029	487,905
Labor and other related expenses	259,270	251,935	508,374	496,257
Other store operating expenses	140,979	141,103	278,905	276,810
Store operating income	117,513	106,032	227,345	205,659
General and administrative expenses	34,817	35,507	68,905	69,826
Operating income	82,696	70,525	158,440	135,833
Interest expense	3,638	3,569	7,314	7,113
Income before income taxes	79,058	66,956	151,126	128,720
Provision for income taxes	26,331	18,714	50,044	39,613
Net income	$ 52,727	$ 48,242	$ 101,082	$ 89,107
Net income per share:
Basic (in dollars per share)	$ 2.19	$ 2.02	$ 4.21	$ 3.72
Diluted (in dollars per share)	$ 2.19	$ 2.01	$ 4.19	$ 3.70
Weighted average shares:
Basic (in shares)	24,040,243	23,937,812	24,020,976	23,947,183
Diluted (in shares)	24,109,000	24,047,042	24,106,748	24,060,047
Dividends declared per share (in dollars per share)	$ 1.15	$ 1.10	$ 3.30	$ 2.20
Dividends paid per share (in dollars per share)	$ 1.15	$ 1.10	$ 3.30	$ 5.20

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 27, 2017	Jan. 29, 2016	Jan. 27, 2017	Jan. 29, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net income	$ 52,727	$ 48,242	$ 101,082	$ 89,107
Other comprehensive income (loss) before income tax expense (benefit):
Change in fair value of interest rate swaps	11,394	(5,048)	17,500	(9,930)
Income tax expense (benefit)	4,358	(1,931)	6,693	(3,780)
Other comprehensive income (loss), net of tax	7,036	(3,117)	10,807	(6,150)
Comprehensive income	$ 59,763	$ 45,125	$ 111,889	$ 82,957

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands

6 Months Ended

Jan. 27, 2017

Jan. 29, 2016

Cash flows from operating activities:

Net income

$ 101,082

$ 89,107

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

41,830

37,783

Loss on disposition of property and equipment

2,472

2,667

Share-based compensation

4,011

4,955

Excess tax benefit from share-based compensation

(1,203)

(1,948)

Changes in assets and liabilities:

Other current liabilities

(3,571)

2,099

Other current assets

11,765

(2,471)

Accounts payable

(32,105)

(41,643)

Deferred revenue

32,820

28,222

(6,894)

(33,299)

Other long-term assets and liabilities

(705)

141

Net cash provided by operating activities

149,502

85,613

Cash flows from investing activities:

Purchase of property and equipment

(53,194)

(36,972)

Proceeds from insurance recoveries of property and equipment

260

175

Proceeds from sale of property and equipment

412

472

Net cash used in investing activities

(52,522)

(36,325)

Cash flows from financing activities:

(Taxes withheld) and proceeds from issuance of share-based compensation awards, net

(6,031)

(5,343)

Purchases and retirement of common stock

(14,653)

Dividends on common stock

(57,420)

(125,052)

Excess tax benefit from share-based compensation

1,203

1,948

Net cash used in financing activities

(62,248)

(143,100)

Net increase (decrease) in cash and cash equivalents

34,732

(93,812)

Cash and cash equivalents, beginning of period

150,966

^[1]

265,455

Cash and cash equivalents, end of period

185,698

171,643

Cash paid during the period for:

Interest, net of amounts capitalized

6,582

6,331

Income taxes

28,801

37,662

Supplemental schedule of non-cash investing and financing activities:

Capital expenditures accrued in accounts payable

2,559

2,988

Change in fair value of interest rate swaps

17,500

(9,930)

Change in deferred tax asset for interest rate swaps

(6,693)

3,780

Dividends declared but not yet paid

$ 28,997

$ 27,877

[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 29, 2016, as filed with the Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended July 29, 2016.

Condensed Consolidated Financial Statements

6 Months Ended

Jan. 27, 2017

Condensed Consolidated Financial Statements [Abstract]

Condensed Consolidated Financial Statements

1.	Condensed Consolidated Financial Statements

Cracker Barrel Old Country Store, Inc. and its affiliates (collectively, in these Notes to Condensed Consolidated Financial Statements, the “Company”) are principally engaged in the operation and development in the United States of the Cracker Barrel Old Country Store® (“Cracker Barrel”) concept.

The condensed consolidated balance sheets at January 27, 2017 and July 29, 2016 and the related condensed consolidated statements of income, comprehensive income and cash flows for the quarters and six months ended January 27, 2017 and January 29, 2016, respectively, have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission without audit. In the opinion of management, all adjustments (consisting of normal and recurring items) necessary for a fair presentation of such condensed consolidated financial statements have been made. The results of operations for any interim period are not necessarily indicative of results for a full year.

These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended July 29, 2016 (the “2016 Form 10-K”). The accounting policies used in preparing these condensed consolidated financial statements are the same as described in the 2016 Form 10-K. References to a year in these Notes to Condensed Consolidated Financial Statements are to the Company’s fiscal year unless otherwise noted.

Recent Accounting Pronouncements Adopted

Debt Issuance Costs

In April 2015, the FASB issued accounting guidance which requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability rather than as an asset. This accounting guidance was effective for fiscal years beginning after December 15, 2015, and interim periods within those years on a retrospective basis. Since this accounting guidance does not pertain to debt issuance costs related to revolving debt agreements, this accounting guidance did not have a significant impact on the Company’s consolidated financial position or results of operations upon adoption in the first quarter of 2017.

Recent Accounting Pronouncements Not Yet Adopted

Revenue Recognition

In May 2014, the FASB issued accounting guidance which clarifies the principles for recognizing revenue and provides a comprehensive model for revenue recognition. Revenue recognition should depict the transfer of goods or services to a customer at an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. This accounting guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. Early application is permitted for fiscal years beginning after December 15, 2016. A company may apply this accounting guidance either retrospectively or by using the cumulative effect transition method. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019.

Inventory

In July 2015, the FASB issued accounting guidance which requires companies to measure certain inventory at the lower of cost and net realizable value. This accounting guidance does not apply to inventories measured by using either the last-in, first-out method or the retail inventory method. This accounting guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years on a prospective basis. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018.

Deferred Taxes

In November 2015, in order to simplify the presentation of deferred income taxes, the FASB issued accounting guidance which requires deferred tax liabilities and assets to be classified as noncurrent in the balance sheet. This accounting guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years. This accounting guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018.

Leases

In February 2016, the FASB issued accounting guidance which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The accounting guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years on a modified retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2020.

Recognition of Breakage for Certain Prepaid Stored-Value Products

In March 2016, in order to address diversity in practice related to the derecognition of a prepaid stored-value product liability, the FASB issued accounting guidance requiring breakage for prepaid stored-value product liabilities to be accounted for consistent with the breakage guidance in the revenue recognition standard (see “Revenue Recognition” above). This accounting guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. This accounting guidance may be applied either on a modified retrospective basis or on a retrospective basis. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019.

Share-Based Payments

In March 2016, the FASB issued accounting guidance in order to simplify certain aspects of the accounting and presentation of share-based payments, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This accounting guidance is effective for fiscal periods beginning after December 15, 2016, and interim periods within those years. This guidance may be applied either on a prospective basis, retrospective basis or a modified retrospective basis depending on the specific accounting topic covered in the accounting guidance. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018.

Fair Value Measurements

6 Months Ended

Jan. 27, 2017

Fair Value Measurements [Abstract]

Fair Value Measurements

2.	Fair Value Measurements

The Company’s assets and liabilities measured at fair value on a recurring basis at January 27, 2017 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash equivalents*	$	110,120	$	--	$	--	$	110,120
Interest rate swap asset (see Note 5)		--		1,790		--		1,790
Deferred compensation plan assets**		28,780		--		--		28,780
Total assets at fair value	$	138,900	$	1,790	$	--	$	140,690

Interest rate swap liability (see Note 5)	$	--	$	6,540	$	--	$	6,540
Total liabilities at fair value	$	--	$	6,540	$	--	$	6,540

The Company’s assets and liabilities measured at fair value on a recurring basis at July 29, 2016 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash equivalents*	$	76,084	$	--	$	--	$	76,084
Interest rate swap asset (see Note 5)		--		--		--		--
Deferred compensation plan assets**		27,764		--		--		27,764
Total assets at fair value	$	103,848	$	--	$	--	$	103,848

Interest rate swap liability (see Note 5)	$	--	$	22,250	$	--	$	22,250
Total liabilities at fair value	$	--	$	22,250	$	--	$	22,250

*Consists of money market fund investments.

**Represents plan assets invested in mutual funds established under a rabbi trust for the Company’s non-qualified savings plan and is included in the Condensed Consolidated Balance Sheets as other assets.

The Company’s money market fund investments and deferred compensation plan assets are measured at fair value using quoted market prices. The fair values of the Company’s interest rate swap assets and liabilities are determined based on the present value of expected future cash flows. Since the values of the Company’s interest rate swaps are based on the LIBOR forward curve, which is observable at commonly quoted intervals for the full terms of the swaps, it is considered a Level 2 input. Non-performance risk is reflected in determining the fair value of the interest rate swaps by using the Company’s credit spread less the risk-free interest rate, both of which are observable at commonly quoted intervals for the terms of the swaps. Thus, the adjustment for non-performance risk is also considered a Level 2 input.

The fair values of the Company’s accounts receivable and accounts payable approximate their carrying amounts because of their short duration. The fair value of the Company’s variable rate debt, based on quoted market prices, which are considered Level 1 inputs, approximates its carrying amount at January 27, 2017 and July 29, 2016.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Inventories

6 Months Ended

Jan. 27, 2017

Inventories [Abstract]

Derivative Instruments and Hedging Activities [Abstract]

3.	Inventories

Inventories were comprised of the following at:

	January 27, 2017		July 29, 2016
Retail	$	118,323	$	114,610
Restaurant		20,005		21,522
Supplies		17,551		16,176
Total	$	155,879	$	152,308

Debt

6 Months Ended

Jan. 27, 2017

Debt [Abstract]

Debt

The Company has a $750,000 revolving credit facility (the “Revolving Credit Facility”), which expires on January 8, 2020. At both January 27, 2017 and July 29, 2016, the Company had $400,000 of outstanding borrowings under the Revolving Credit Facility. At January 27, 2017, the Company had $9,655 of standby letters of credit, which reduce the Company’s borrowing availability under the Revolving Credit Facility (see Note 11 for more information on the Company’s standby letters of credit). At January 27, 2017, the Company had $340,345 in borrowing availability under the Revolving Credit Facility.

In accordance with the Revolving Credit Facility, outstanding borrowings bear interest, at the Company’s election, either at LIBOR or prime plus a percentage point spread based on certain specified financial ratios under the Revolving Credit Facility. As of January 27, 2017, the Company’s outstanding borrowings were swapped at a weighted average interest rate of 3.10% (see Note 5 for information on the Company’s interest rate swaps).

The Revolving Credit Facility contains customary financial covenants, which include maintenance of a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. At January 27, 2017, the Company was in compliance with all financial covenants.

The Revolving Credit Facility also imposes restrictions on the amount of dividends the Company is permitted to pay and the amount of shares the Company is permitted to repurchase. Under the Revolving Credit Facility, provided there is no default existing and the total of the Company’s availability under the Revolving Credit Facility plus the Company’s cash and cash equivalents on hand is at least $100,000 (the “cash availability”), the Company may declare and pay cash dividends on shares of its common stock and repurchase shares of its common stock (1) in an unlimited amount if, at the time such dividend or repurchase is made, the Company’s consolidated total leverage ratio is 3.00 to 1.00 or less and (2) in an aggregate amount not to exceed $100,000 in any fiscal year if the Company’s consolidated total leverage ratio is greater than 3.00 to 1.00 at the time the dividend or repurchase is made; notwithstanding (1) and (2), so long as immediately after giving effect to the payment of any such dividends, cash availability is at least $100,000, the Company may declare and pay cash dividends on shares of its common stock in an aggregate amount not to exceed in any fiscal year the product of the aggregate amount of dividends declared in the fourth quarter of the immediately preceding fiscal year multiplied by four.

Derivative Instruments and Hedging Activities

6 Months Ended

Jan. 27, 2017

Derivative Instruments and Hedging Activities

5.	Derivative Instruments and Hedging Activities

The Company has interest rate risk relative to its outstanding borrowings (see Note 4 for information on the Company’s outstanding borrowings). The Company’s policy has been to manage interest cost using a mix of fixed and variable rate debt. To manage this risk in a cost-efficient manner, the Company uses derivative instruments, specifically interest rate swaps.

For each of the Company’s interest rate swaps, the Company has agreed to exchange with a counterparty the difference between fixed and variable interest amounts calculated by reference to an agreed-upon notional principal amount. The interest rates on the portion of the Company’s outstanding debt covered by its interest rate swaps are fixed at the rates in the table below plus the Company’s credit spread. The Company’s credit spread at January 27, 2017 was 1.25%. All of the Company’s interest rate swaps are accounted for as cash flow hedges.

A summary of the Company’s interest rate swaps at January 27, 2017 is as follows:

Trade Date	Effective Date	Term (in Years)		Notional Amount		Fixed Rate
March 18, 2013	May 3, 2015		3	$	50,000		1.51	%
April 8, 2013	May 3, 2015		2		50,000		1.05	%
April 15, 2013	May 3, 2015		2		50,000		1.03	%
April 22, 2013	May 3, 2015		3		25,000		1.30	%
April 25, 2013	May 3, 2015		3		25,000		1.29	%
June 18, 2014	May 3, 2015		4		80,000		2.51	%
June 24, 2014	May 3, 2015		4		60,000		2.51	%
July 1, 2014	May 5, 2015		4		60,000		2.43	%
January 30, 2015	May 3, 2019		2		80,000		2.15	%
January 30, 2015	May 3, 2019		2		60,000		2.16	%
January 30, 2015	May 4, 2021		3		120,000		2.41	%
January 30, 2015	May 3, 2019		2		60,000		2.15	%
January 30, 2015	May 4, 2021		3		80,000		2.40	%

The notional amount for the interest rate swap entered into on June 18, 2014 increases by $40,000 each May over the four-year term of the interest rate swap until the notional amount reaches $160,000 in May 2018. The notional amounts for the interest rate swaps entered into on June 24, 2014 and July 1, 2014 increase by $30,000 each May over the four-year terms of the interest rate swaps until the notional amounts each reach $120,000 in May 2018.

The Company does not hold or use derivative instruments for trading purposes. The Company also does not have any derivatives not designated as hedging instruments and has not designated any non-derivatives as hedging instruments.

Companies may elect to offset related assets and liabilities and report the net amount on their financial statements if the right of setoff exists. Under a master netting agreement, the Company has the legal right to offset the amounts owed to the Company against amounts owed by the Company under a derivative instrument that exists between the Company and a counterparty. When the Company is engaged in more than one outstanding derivative transaction with the same counterparty and also has a legally enforceable master netting agreement with that counterparty, its credit risk exposure is based on the net exposure under the master netting agreement. If, on a net basis, the Company owes the counterparty, the Company regards its credit exposure to the counterparty as being zero.

The estimated fair values of the Company’s derivative instruments as of January 27, 2017 and July 29, 2016 were as follows:

(See Note 2)	Balance Sheet Location	January 27, 2017		July 29, 2016
Interest rate swaps	Other assets	$	1,790	$	--

Interest rate swaps	Other current liabilities	$	2	$	180
Interest rate swaps	Long-term interest rate swap liability		6,538		22,070
	Total	$	6,540	$	22,250

The following table summarizes the offsetting of the Company’s derivative assets in the Condensed Consolidated Balance Sheets at January 27, 2017 and July 29, 2016:

	Gross Asset Amounts				Liability Amount Offset					Net Asset Amount Presented in the Balance Sheets
(See Note 2)	January 27, 2017		July 29, 2016		January 27, 2017			July 29, 2016		January 27, 2017		July 29, 2016
Interest rate swaps	$	1,791	$	--	$	(1	)	$	--	$	1,790	$	--

The following table summarizes the offsetting of the Company’s derivative liabilities in the Condensed Consolidated Balance Sheets at January 27, 2017 and July 29, 2016:

	Gross Liability Amounts				Asset Amount Offset				Net Liability Amount Presented in the Balance Sheets
(See Note 2)	January 27, 2017		July 29, 2016		January 27, 2017		July 29, 2016		January 27, 2017		July 29, 2016
Interest rate swaps	$	6,540	$	22,250	$	--	$	--	$	6,540	$	22,250

The estimated fair value of the Company’s interest rate swap liabilities incorporates the Company’s non-performance risk (see Note 2). The adjustment related to the Company’s non-performance risk at January 27, 2017 and July 29, 2016 resulted in reductions of $68 and $1,035, respectively, in the fair value of the interest rate swap liabilities. The offset to the interest rate swap liabilities is recorded in accumulated other comprehensive loss (“AOCL”), net of the deferred tax asset, and will be reclassified into earnings over the term of the underlying debt. As of January 27, 2017, the estimated pre-tax portion of AOCL that is expected to be reclassified into earnings over the next twelve months is $2,843. Cash flows related to the interest rate swaps are included in interest expense and in operating activities.

The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCL for the six months ended January 27, 2017 and the year ended July 29, 2016:

	Amount of Income (Loss) Recognized in AOCL on Derivatives (Effective Portion)
	Six Months Ended January 27, 2017		Year Ended July 29, 2016
Cash flow hedges:
Interest rate swaps	$	17,500	$	(16,188	)

The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six-month periods ended January 27, 2017 and January 29, 2016:

	Location of Loss Reclassified from AOCL into Income (Effective Portion)	Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		Quarter Ended				Six Months Ended
		January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Cash flow hedges:
Interest rate swaps	Interest expense	$	1,118	$	1,444	$	2,361	$	2,891

Any portion of the fair value of the swaps determined to be ineffective will be recognized currently in earnings. No ineffectiveness has been recorded in the six-month periods ended January 27, 2017 and January 29, 2016.

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624177-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

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-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Shareholders' Equity

6 Months Ended

Jan. 27, 2017

Shareholders' Equity [Abstract]

Shareholders' Equity

6.	Shareholders’ Equity

During the six months ended January 27, 2017, the Company issued 86,439 shares of its common stock resulting from the vesting of share-based compensation awards and stock option exercises. Related tax withholding payments on these share-based compensation awards exceeded proceeds received from the exercise of stock options, which resulted in a net reduction to shareholders’ equity of $6,031.

During the six months ended January 27, 2017, total share-based compensation expense was $4,011. The excess tax benefit realized upon exercise of share-based compensation awards was $1,203.

During the six months ended January 27, 2017, the Company paid regular dividends of $3.30 per share of its common stock and declared a regular dividend of $1.15 per share of its common stock that was paid on February 6, 2017 to shareholders of record on January 13, 2017.

The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the six months ended January 27, 2017 (see Notes 2 and 5):

	Changes in AOCL
AOCL balance at July 29, 2016	$	(13,740	)
Other comprehensive income before reclassifications		12,265
Amounts reclassified from AOCL		(1,458	)
Other comprehensive income, net of tax		10,807
AOCL balance at January 27, 2017	$	(2,933	)

The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter and six months ended January 27, 2017:

	Amount Reclassified from AOCL						Affected Line Item in the Condensed Consolidated Financial Statements
	Quarter Ended			Six Months Ended
Loss on cash flow hedges:
Interest rate swaps	$	(1,118	)	$	(2,361	)	Interest expense
Tax benefit		428			903		Provision for income taxes
	$	(690	)	$	(1,458	)	Net of tax

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Seasonality

6 Months Ended

Jan. 27, 2017

Seasonality [Abstract]

Seasonality

7.	Seasonality

Historically, the net income of the Company has been lower in the first and third quarters and higher in the second and fourth quarters. Management attributes these variations to the Christmas holiday shopping season and the summer vacation and travel season. The Company's retail sales, which are made substantially to the Company’s restaurant customers, historically have been highest in the Company's second quarter, which includes the Christmas holiday shopping season. Historically, interstate tourist traffic and the propensity to dine out have been higher during the summer months, thereby contributing to higher profits in the Company’s fourth quarter. The Company generally opens additional new locations throughout the year. Therefore, the results of operations for any interim period cannot be considered indicative of the operating results for an entire year.

Segment Information

6 Months Ended

Jan. 27, 2017

Segment Information [Abstract]

Segment Information

8.	Segment Information

Cracker Barrel stores represent a single, integrated operation with two related and substantially integrated product lines. The operating expenses of the restaurant and retail product lines of a Cracker Barrel store are shared and are indistinguishable in many respects. Accordingly, the Company currently manages its business on the basis of one reportable operating segment. All of the Company’s operations are located within the United States. Total revenue was comprised of the following for the specified periods:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Revenue:
Restaurant	$	591,113	$	580,918	$	1,164,790	$	1,143,197
Retail		181,569		183,084		317,863		323,434
Total revenue	$	772,682	$	764,002	$	1,482,653	$	1,466,631

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Share-Based Compensation

6 Months Ended

Jan. 27, 2017

Share-Based Compensation [Abstract]

Share-Based Compensation

9.	Share-Based Compensation

Share-based compensation is recorded in general and administrative expenses in the accompanying Condensed Consolidated Statements of Income. Total share-based compensation was comprised of the following for the specified periods:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Nonvested stock awards	$	2,115	$	2,146	$	3,098	$	3,412
Performance-based market stock units (“MSU Grants”)		471		857		913		1,543
	$	2,586	$	3,003	$	4,011	$	4,955

Net Income Per Share and Weighted Average Shares [Abstract]

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Net Income Per Share and Weighted Average Shares

6 Months Ended

Jan. 27, 2017

Net Income Per Share and Weighted Average Shares

10.	Net Income Per Share and Weighted Average Shares

Basic consolidated net income per share is computed by dividing consolidated net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period. Diluted consolidated net income per share reflects the potential dilution that could occur if securities, options or other contracts to issue shares of common stock were exercised or converted into shares of common stock and is based upon the weighted average number of shares of common stock and common equivalent shares outstanding during the reporting period. Common equivalent shares related to stock options, nonvested stock awards and units and MSU Grants issued by the Company are calculated using the treasury stock method. The outstanding stock options, nonvested stock awards and units and MSU Grants issued by the Company represent the only dilutive effects on diluted consolidated net income per share.

The following table reconciles the components of diluted earnings per share computations:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Net income per share numerator	$	52,727	$	48,242	$	101,082	$	89,107

Net income per share denominator:
Weighted average shares		24,040,243		23,937,812		24,020,976		23,947,183
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		68,757		109,230		85,772		112,864
Diluted weighted average shares		24,109,000		24,047,042		24,106,748		24,060,047

Commitments and Contingencies

6 Months Ended

Jan. 27, 2017

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11.	Commitments and Contingencies

The Company and its subsidiaries are party to various legal and regulatory proceedings and claims incidental to their business in the ordinary course. In the opinion of management, based upon information currently available, the ultimate liability with respect to these proceedings and claims will not materially affect the Company’s consolidated results of operations or financial position.

Related to its workers’ compensation insurance coverage, the Company is contingently liable pursuant to standby letters of credit as credit guarantees to certain insurers. As of January 27, 2017, the Company had $9,655 of standby letters of credit related to securing reserved claims under workers’ compensation insurance. All standby letters of credit are renewable annually and reduce the Company’s borrowing availability under its Revolving Credit Facility (see Note 4).

At January 27, 2017, the Company is secondarily liable for lease payments associated with two properties. The Company is not aware of any non-performance under these lease arrangements that would result in the Company having to perform in accordance with the terms of these guarantees; and therefore, no provision has been recorded in the Condensed Consolidated Balance Sheets for amounts to be paid in case of non-performance by the primary obligor under such lease arrangements.

The Company enters into certain indemnification agreements in favor of third parties in the ordinary course of business. The Company believes that the probability of incurring an actual liability under such indemnification agreements is sufficiently remote that no such liability has been recorded in the Condensed Consolidated Balance Sheet as of January 27, 2017.

Condensed Consolidated Financial Statements (Policies)	6 Months Ended
Condensed Consolidated Financial Statements (Policies)	Jan. 27, 2017
Condensed Consolidated Financial Statements [Abstract]
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Adopted Debt Issuance Costs In April 2015, the FASB issued accounting guidance which requires debt issuance costs to be presented in the balance sheet as a reduction of the related debt liability rather than as an asset. This accounting guidance was effective for fiscal years beginning after December 15, 2015, and interim periods within those years on a retrospective basis. Since this accounting guidance does not pertain to debt issuance costs related to revolving debt agreements, this accounting guidance did not have a significant impact on the Company’s consolidated financial position or results of operations upon adoption in the first quarter of 2017. Recent Accounting Pronouncements Not Yet Adopted Revenue Recognition In May 2014, the FASB issued accounting guidance which clarifies the principles for recognizing revenue and provides a comprehensive model for revenue recognition. Revenue recognition should depict the transfer of goods or services to a customer at an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The guidance also requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. This accounting guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. Early application is permitted for fiscal years beginning after December 15, 2016. A company may apply this accounting guidance either retrospectively or by using the cumulative effect transition method. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019. Inventory In July 2015, the FASB issued accounting guidance which requires companies to measure certain inventory at the lower of cost and net realizable value. This accounting guidance does not apply to inventories measured by using either the last-in, first-out method or the retail inventory method. This accounting guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years on a prospective basis. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018. Deferred Taxes In November 2015, in order to simplify the presentation of deferred income taxes, the FASB issued accounting guidance which requires deferred tax liabilities and assets to be classified as noncurrent in the balance sheet. This accounting guidance is effective for fiscal years beginning after December 15, 2016, and interim periods within those years. This accounting guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018. Leases In February 2016, the FASB issued accounting guidance which requires the recognition of lease assets and lease liabilities on the balance sheet and disclosure of key information about leasing arrangements. The accounting guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years on a modified retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2020. Recognition of Breakage for Certain Prepaid Stored-Value Products In March 2016, in order to address diversity in practice related to the derecognition of a prepaid stored-value product liability, the FASB issued accounting guidance requiring breakage for prepaid stored-value product liabilities to be accounted for consistent with the breakage guidance in the revenue recognition standard (see “Revenue Recognition” above). This accounting guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those years. This accounting guidance may be applied either on a modified retrospective basis or on a retrospective basis. Early application is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019. Share-Based Payments In March 2016, the FASB issued accounting guidance in order to simplify certain aspects of the accounting and presentation of share-based payments, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This accounting guidance is effective for fiscal periods beginning after December 15, 2016, and interim periods within those years. This guidance may be applied either on a prospective basis, retrospective basis or a modified retrospective basis depending on the specific accounting topic covered in the accounting guidance. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2018.

Fair Value Measurements (Tables)

6 Months Ended

Jan. 27, 2017

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis at January 27, 2017 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash equivalents*	$	110,120	$	--	$	--	$	110,120
Interest rate swap asset (see Note 5)		--		1,790		--		1,790
Deferred compensation plan assets**		28,780		--		--		28,780
Total assets at fair value	$	138,900	$	1,790	$	--	$	140,690

Interest rate swap liability (see Note 5)	$	--	$	6,540	$	--	$	6,540
Total liabilities at fair value	$	--	$	6,540	$	--	$	6,540

The Company’s assets and liabilities measured at fair value on a recurring basis at July 29, 2016 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Fair Value
Cash equivalents*	$	76,084	$	--	$	--	$	76,084
Interest rate swap asset (see Note 5)		--		--		--		--
Deferred compensation plan assets**		27,764		--		--		27,764
Total assets at fair value	$	103,848	$	--	$	--	$	103,848

Interest rate swap liability (see Note 5)	$	--	$	22,250	$	--	$	22,250
Total liabilities at fair value	$	--	$	22,250	$	--	$	22,250

*Consists of money market fund investments.

Inventories (Tables)

6 Months Ended

Jan. 27, 2017

Inventories [Abstract]

Derivative Instruments and Hedging Activities [Abstract]

Inventories were comprised of the following at:

	January 27, 2017		July 29, 2016
Retail	$	118,323	$	114,610
Restaurant		20,005		21,522
Supplies		17,551		16,176
Total	$	155,879	$	152,308

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jan. 27, 2017

Summary of Interest Rate Swaps

A summary of the Company’s interest rate swaps at January 27, 2017 is as follows:

Trade Date	Effective Date	Term (in Years)		Notional Amount		Fixed Rate
March 18, 2013	May 3, 2015		3	$	50,000		1.51	%
April 8, 2013	May 3, 2015		2		50,000		1.05	%
April 15, 2013	May 3, 2015		2		50,000		1.03	%
April 22, 2013	May 3, 2015		3		25,000		1.30	%
April 25, 2013	May 3, 2015		3		25,000		1.29	%
June 18, 2014	May 3, 2015		4		80,000		2.51	%
June 24, 2014	May 3, 2015		4		60,000		2.51	%
July 1, 2014	May 5, 2015		4		60,000		2.43	%
January 30, 2015	May 3, 2019		2		80,000		2.15	%
January 30, 2015	May 3, 2019		2		60,000		2.16	%
January 30, 2015	May 4, 2021		3		120,000		2.41	%
January 30, 2015	May 3, 2019		2		60,000		2.15	%
January 30, 2015	May 4, 2021		3		80,000		2.40	%

Schedule of Estimated Fair Value of Derivative Instruments

The estimated fair values of the Company’s derivative instruments as of January 27, 2017 and July 29, 2016 were as follows:

(See Note 2)	Balance Sheet Location	January 27, 2017		July 29, 2016
Interest rate swaps	Other assets	$	1,790	$	--

Interest rate swaps	Other current liabilities	$	2	$	180
Interest rate swaps	Long-term interest rate swap liability		6,538		22,070
	Total	$	6,540	$	22,250

Offsetting Assets

The following table summarizes the offsetting of the Company’s derivative assets in the Condensed Consolidated Balance Sheets at January 27, 2017 and July 29, 2016:

	Gross Asset Amounts				Liability Amount Offset					Net Asset Amount Presented in the Balance Sheets
(See Note 2)	January 27, 2017		July 29, 2016		January 27, 2017			July 29, 2016		January 27, 2017		July 29, 2016
Interest rate swaps	$	1,791	$	--	$	(1	)	$	--	$	1,790	$	--

Offsetting Liabilities

The following table summarizes the offsetting of the Company’s derivative liabilities in the Condensed Consolidated Balance Sheets at January 27, 2017 and July 29, 2016:

	Gross Liability Amounts				Asset Amount Offset				Net Liability Amount Presented in the Balance Sheets
(See Note 2)	January 27, 2017		July 29, 2016		January 27, 2017		July 29, 2016		January 27, 2017		July 29, 2016
Interest rate swaps	$	6,540	$	22,250	$	--	$	--	$	6,540	$	22,250

Schedule of Pre-tax Effects of Derivative Instruments on Income and AOCL

The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCL for the six months ended January 27, 2017 and the year ended July 29, 2016:

	Amount of Income (Loss) Recognized in AOCL on Derivatives (Effective Portion)
	Six Months Ended January 27, 2017		Year Ended July 29, 2016
Cash flow hedges:
Interest rate swaps	$	17,500	$	(16,188	)

The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six-month periods ended January 27, 2017 and January 29, 2016:

	Location of Loss Reclassified from AOCL into Income (Effective Portion)	Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		Quarter Ended				Six Months Ended
		January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Cash flow hedges:
Interest rate swaps	Interest expense	$	1,118	$	1,444	$	2,361	$	2,891

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Changes in AOCL, Net of Tax, Related to Interest Rate Swaps

Shareholders' Equity (Tables)

6 Months Ended

Jan. 27, 2017

Shareholders' Equity [Abstract]

The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the six months ended January 27, 2017 (see Notes 2 and 5):

	Changes in AOCL
AOCL balance at July 29, 2016	$	(13,740	)
Other comprehensive income before reclassifications		12,265
Amounts reclassified from AOCL		(1,458	)
Other comprehensive income, net of tax		10,807
AOCL balance at January 27, 2017	$	(2,933	)

Amounts Reclassified Out of AOCL Related to Interest Rate Swaps

The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter and six months ended January 27, 2017:

	Amount Reclassified from AOCL						Affected Line Item in the Condensed Consolidated Financial Statements
	Quarter Ended			Six Months Ended
Loss on cash flow hedges:
Interest rate swaps	$	(1,118	)	$	(2,361	)	Interest expense
Tax benefit		428			903		Provision for income taxes
	$	(690	)	$	(1,458	)	Net of tax

Segment Information (Tables)

6 Months Ended

Jan. 27, 2017

Segment Information [Abstract]

Composition of Total Revenue

Total revenue was comprised of the following for the specified periods:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Revenue:
Restaurant	$	591,113	$	580,918	$	1,164,790	$	1,143,197
Retail		181,569		183,084		317,863		323,434
Total revenue	$	772,682	$	764,002	$	1,482,653	$	1,466,631

Share-Based Compensation (Tables)

6 Months Ended

Jan. 27, 2017

Share-Based Compensation [Abstract]

Components of Share-based Compensation

Total share-based compensation was comprised of the following for the specified periods:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Nonvested stock awards	$	2,115	$	2,146	$	3,098	$	3,412
Performance-based market stock units (“MSU Grants”)		471		857		913		1,543
	$	2,586	$	3,003	$	4,011	$	4,955

Net Income Per Share and Weighted Average Shares (Tables)

6 Months Ended

Jan. 27, 2017

Net Income Per Share and Weighted Average Shares [Abstract]

Reconciliation of Components of Diluted Earnings per Share Computations

The following table reconciles the components of diluted earnings per share computations:

	Quarter Ended				Six Months Ended
	January 27, 2017		January 29, 2016		January 27, 2017		January 29, 2016
Net income per share numerator	$	52,727	$	48,242	$	101,082	$	89,107

Net income per share denominator:
Weighted average shares		24,040,243		23,937,812		24,020,976		23,947,183
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		68,757		109,230		85,772		112,864
Diluted weighted average shares		24,109,000		24,047,042		24,106,748		24,060,047

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)
$ in Thousands

Jan. 27, 2017

Jul. 29, 2016

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

$ 110,120

$ 76,084

1,790

^[2]

28,780

27,764

140,690

103,848

6,540

22,250

Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]

6,540

22,250

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

110,120

76,084

^[2]

28,780

27,764

138,900

103,848

Significant Other Observable Inputs (Level 2) [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

1,790

^[2]

1,790

6,540

22,250

Significant Unobservable Inputs (Level 3) [Member]

6,540

22,250

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[1]

^[2]