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Prepaid expenses and other current assets

159,583

156,367

20,572

16,047

Deferred income taxes

3,061

Total current assets

372,978

358,857

Property and equipment

2,143,787

2,093,448

Less: Accumulated depreciation and amortization of capital leases

1,029,547

995,351

Property and equipment - net

1,114,240

1,098,097

Other assets

69,725

64,988

Total assets

1,556,943

1,521,942

Current Liabilities:

Accounts payable

106,502

118,395

Taxes withheld and accrued

27,235

36,725

Deferred revenue

102,912

72,376

Other current liabilities

128,456

148,332

Total current liabilities

365,105

375,828

Long-term debt

400,000

Long-term interest rate swap liability

1,706

6,833

Other long-term obligations

130,933

129,353

Deferred income taxes

43,574

65,421

Commitments and Contingencies (Note 12)

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; 24,003,611 shares issued and outstanding at January 26, 2018, and 24,055,682 shares issued and outstanding at July 28, 2017

240

241

Additional paid-in capital

41,849

55,659

Accumulated other comprehensive income (loss)

1,197

(4,229)

Retained earnings

572,339

492,836

Total shareholders' equity

615,625

544,507

Total liabilities and shareholders' equity

$ 1,556,943

$ 1,521,942

[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 28, 2017, as filed with the Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended July 28, 2017.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jan. 26, 2018	Jul. 28, 2017
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)	24,003,611	24,055,682
Common stock, shares outstanding (in shares)	24,003,611	24,055,682
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. 26, 2018	Jan. 27, 2017	Jan. 26, 2018	Jan. 27, 2017
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) [Abstract]
Total revenue	$ 787,771	$ 772,682	$ 1,498,139	$ 1,482,653
Cost of goods sold (exclusive of depreciation and rent)	260,952	254,920	471,701	468,029
Labor and other related expenses	263,726	259,270	511,794	508,374
Other store operating expenses	150,407	140,979	294,227	278,905
Store operating income	112,686	117,513	220,417	227,345
General and administrative expenses	36,012	34,817	72,905	68,905
Operating income	76,674	82,696	147,512	158,440
Interest expense	3,680	3,638	7,298	7,314
Income before income taxes	72,994	79,058	140,214	151,126
Provision for income taxes	(18,145)	26,331	2,695	50,044
Net income	$ 91,139	$ 52,727	$ 137,519	$ 101,082
Net income per share:
Basic (in dollars per share)	$ 3.80	$ 2.19	$ 5.73	$ 4.21
Diluted (in dollars per share)	$ 3.79	$ 2.19	$ 5.71	$ 4.19
Weighted average shares:
Basic (in shares)	24,001,493	24,040,243	24,018,347	24,020,976
Diluted (in shares)	24,056,533	24,109,000	24,080,860	24,106,748
Dividends declared per share (in dollars per share)	$ 1.20	$ 1.15	$ 2.40	$ 2.30
Dividends paid per share (in dollars per share)	$ 1.20	$ 1.15	$ 2.40	$ 2.30

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 26, 2018	Jan. 27, 2017	Jan. 26, 2018	Jan. 27, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Net income	$ 91,139	$ 52,727	$ 137,519	$ 101,082
Other comprehensive income before income tax expense:
Change in fair value of interest rate swaps	5,394	11,394	8,449	17,500
Income tax expense	1,855	4,358	3,023	6,693
Other comprehensive income, net of tax	3,539	7,036	5,426	10,807
Comprehensive income	$ 94,678	$ 59,763	$ 142,945	$ 111,889

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

6 Months Ended

Jan. 26, 2018

Jan. 27, 2017

Cash flows from operating activities:

Net income

$ 137,519

$ 101,082

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

Depreciation and amortization

44,344

41,830

Loss on disposition of property and equipment

3,029

2,472

Share-based compensation

4,321

4,011

Excess tax benefit from share-based compensation

(1,203)

Changes in assets and liabilities:

Other current liabilities

(3,216)

(3,571)

Other current assets

(6,359)

11,765

Accounts payable

(11,893)

(32,105)

Deferred revenues

30,536

32,820

(27,882)

(6,894)

Other long-term assets and liabilities

(21,894)

(705)

Net cash provided by operating activities

148,505

149,502

Cash flows from investing activities:

Purchase of property and equipment

(63,728)

(53,194)

Proceeds from insurance recoveries of property and equipment

275

260

Proceeds from sale of property and equipment

340

412

Net cash used in investing activities

(63,113)

(52,522)

Cash flows from financing activities:

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

(3,360)

(6,031)

Purchases and retirement of common stock

(14,772)

Dividends on common stock

(59,453)

(57,420)

Excess tax benefit from share-based compensation

1,203

Net cash used in financing activities

(77,585)

(62,248)

Net increase in cash and cash equivalents

7,807

34,732

Cash and cash equivalents, beginning of period

161,001

^[1]

150,966

Cash and cash equivalents, end of period

168,808

185,698

Cash paid during the period for:

Interest, net of amounts capitalized

6,780

6,582

Income taxes

22,889

28,801

Supplemental schedule of non-cash investing and financing activities:

Capital expenditures accrued in accounts payable

2,737

2,559

Change in fair value of interest rate swaps

8,449

17,500

Change in deferred tax asset for interest rate swaps

(3,023)

(6,693)

Dividends declared but not yet paid

$ 29,853

$ 28,997

[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 28, 2017, as filed with the Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended July 28, 2017.

Condensed Consolidated Financial Statements

6 Months Ended

Jan. 26, 2018

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 26, 2018 and July 28, 2017 and the related condensed consolidated statements of income, comprehensive income and cash flows for the quarters and/or the six-month periods ended January 26, 2018 and January 27, 2017, 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 (“SEC”) 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 28, 2017 (the “2017 Form 10-K”). The accounting policies used in preparing these condensed consolidated financial statements are the same as described in the 2017 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

Inventory

In July 2015, the Financial Accounting Standards Board (“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 fiscal years on a prospective basis. The adoption of this accounting guidance in the first quarter of 2018 did not have a significant impact on the Company’s consolidated financial position or results of operations.

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 fiscal years. This accounting guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Other than the revised balance sheet presentation of deferred tax liabilities and assets, the adoption of this accounting guidance on a prospective basis in the first quarter of 2018 did not have a significant impact on the Company’s consolidated financial position or results of operations. Prior periods were not retrospectively adjusted for the adoption of this accounting guidance.

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 fiscal 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. The Company adopted this accounting guidance in the first quarter of 2018. The impact of recognizing excess tax benefits of $759 as a reduction to the provision for income taxes on a prospective basis resulted in a benefit of $0.03 per diluted share in the first quarter of 2018. The Company elected to apply the presentation of excess tax benefits on the statement of cash flows on a prospective basis; prior periods were not retrospectively adjusted. The Company also elected to continue estimating forfeitures of share-based awards.

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 fiscal 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.

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 fiscal 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.

Modification of Share-Based Payment Awards

In May 2017, the FASB issued accounting guidance to provide clarity, reduce the diversity in practice and to simplify the accounting guidance related to a change to the terms or conditions of a share-based payment award. This new standard provides guidance for evaluating which changes to the terms or conditions of a share-based payment award are substantive and require modification accounting to be applied. This accounting guidance is effective for fiscal periods beginning after December 15, 2017, and interim periods within those fiscal years on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019.

Accounting for Hedging Activities

In August 2017, the FASB issued accounting guidance which amends the recognition, presentation and disclosure requirements of hedge accounting in order to better portray the economics of entities’ risk management activities, increase transparency and understandability of hedging relationships and simplify the application of hedge accounting. This accounting guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted. The recognition requirements for cash flow and net investment hedges existing at the date of adoption will be applied using a cumulative-effect adjustment to retained earnings. The amended presentation and disclosure requirements will be applied on a prospective basis. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2020.

Fair Value Measurements

6 Months Ended

Jan. 26, 2018

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 26, 2018 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*	$	89,446	$	--	$	--	$	89,446
Interest rate swap asset (see Note 5)		--		3,307		--		3,307
Deferred compensation plan assets**		32,985		--		--		32,985
Total assets at fair value	$	122,431	$	3,307	$	--	$	125,738

Interest rate swap liability (see Note 5)	$	--	$	1,706	$	--	$	1,706
Total liabilities at fair value	$	--	$	1,706	$	--	$	1,706

The Company’s assets and liabilities measured at fair value on a recurring basis at July 28, 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*	$	82,524	$	--	$	--	$	82,524
Interest rate swap asset (see Note 5)		--		32		--		32
Deferred compensation plan assets**		31,196		--		--		31,196
Total assets at fair value	$	113,720	$	32	$	--	$	113,752

Interest rate swap liability (see Note 5)	$	--	$	6,880	$	--	$	6,880
Total liabilities at fair value	$	--	$	6,880	$	--	$	6,880

* 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 26, 2018 and July 28, 2017.

- Definition

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. 26, 2018

Inventories [Abstract]

Derivative Instruments and Hedging Activities [Abstract]

3.	Inventories

Inventories were comprised of the following at:

	January 26, 2018		July 28, 2017
Retail	$	120,945	$	119,446
Restaurant		21,414		20,252
Supplies		17,224		16,669
Total	$	159,583	$	156,367

Debt

6 Months Ended

Jan. 26, 2018

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 26, 2018 and July 28, 2017, the Company had $400,000 of outstanding borrowings under the Revolving Credit Facility. At January 26, 2018, the Company had $9,455 of standby letters of credit, which reduce the Company’s borrowing availability under the Revolving Credit Facility (see Note 12 for more information on the Company’s standby letters of credit). At January 26, 2018, the Company had $340,545 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 26, 2018, the Company’s outstanding borrowings were swapped at a weighted average interest rate of 3.21% (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 26, 2018, 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. 26, 2018

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 26, 2018 was 1.00%. 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 26, 2018 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 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		120,000		2.51	%
June 24, 2014	May 3, 2015		4		90,000		2.51	%
July 1, 2014	May 5, 2015		4		90,000		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 26, 2018 and July 28, 2017 were as follows:

(See Note 2)	Balance Sheet Location	January 26, 2018		July 28, 2017
Interest rate swaps	Prepaid expenses and other current assets	$	85	$	32
Interest rate swaps	Other assets		3,222		--
Total assets		$	3,307	$	32

Interest rate swaps	Other current liabilities	$	--	$	47
Interest rate swaps	Long-term interest rate swap liability		1,706		6,833
Total liabilities		$	1,706	$	6,880

* These interest rate swap assets and liabilities are recorded at gross at both January 26, 2018 and July 28, 2017 since there were no offsetting assets and liabilities under the Company’s master netting agreements.

The estimated fair value of the Company’s interest rate swap assets and liabilities incorporates the Company’s non-performance risk (see Note 2). The adjustment related to the Company’s non-performance risk at January 26, 2018 and July 28, 2017 resulted in reductions of $84 and $103, respectively, in the fair value of the interest rate swap liabilities. The offset to the interest rate swap asset and liabilities is recorded in accumulated other comprehensive income (loss) (“AOCIL”), net of the deferred tax asset, and will be reclassified into earnings over the term of the underlying debt. As of January 26, 2018, the estimated pre-tax portion of AOCIL that is expected to be reclassified into earnings over the next twelve months is $1,367. 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 AOCIL for the six months ended January 26, 2018 and the year ended July 28, 2017:

	Amount of Income Recognized in AOCIL on Derivatives (Effective Portion)
	Six Months Ended January 26, 2018		Year Ended July 28, 2017
Cash flow hedges:
Interest rate swaps	$	8,449	$	15,402

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 26, 2018 and January 27, 2017:

	Location of Loss Reclassified from AOCIL into Income (Effective Portion)	Amount of Loss Reclassified from AOCIL into Income (Effective Portion)
		Quarter Ended				Six Months Ended
		January 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Cash flow hedges:
Interest rate swaps	Interest expense	$	923	$	1,118	$	1,987	$	2,361

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 26, 2018 and January 27, 2017.

Shareholders' Equity

6 Months Ended

Jan. 26, 2018

Shareholders' Equity [Abstract]

Shareholders' Equity

6.	Shareholders’ Equity

During the six months ended January 26, 2018, the Company issued 47,929 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 $3,360.

During the six months ended January 26, 2018, the Company repurchased 100,000 shares of its common stock in the open market at an aggregate cost of $14,772.

During the six months ended January 26, 2018, total share-based compensation expense was $4,321.

During the six months ended January 26, 2018, the Company paid regular dividends of $2.40 per share of its common stock and declared a regular dividend of $1.20 per share of its common stock that was paid on February 5, 2018 to shareholders of record on January 12, 2018.

The following table summarizes the changes in AOCIL, net of tax, related to the Company’s interest rate swaps for the six months ended January 26, 2018 (see Notes 2 and 5):

	Changes in AOCIL
AOCIL balance at July 28, 2017	$	(4,229	)
Other comprehensive income before reclassifications		6,806
Amounts reclassified from AOCIL		(1,380	)
Other comprehensive income, net of tax		5,426
AOCIL balance at January 26, 2018	$	1,197

The following table summarizes the amounts reclassified out of AOCIL related to the Company’s interest rate swaps for the quarter and six months ended January 26, 2018:

	Amount Reclassified from AOCIL						Affected Line Item in the Condensed Consolidated Financial Statements
	Quarter Ended			Six Months Ended
Loss on cash flow hedges:
Interest rate swaps	$	(923	)	$	(1,987	)	Interest expense
Tax benefit		282			607		Provision for income taxes
	$	(641	)	$	(1,380	)	Net of tax

Seasonality

6 Months Ended

Jan. 26, 2018

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 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 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. 26, 2018

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 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Revenue:
Restaurant	$	603,198	$	591,113	$	1,181,435	$	1,164,790
Retail		184,573		181,569		316,704		317,863
Total revenue	$	787,771	$	772,682	$	1,498,139	$	1,482,653

Share-Based Compensation

6 Months Ended

Jan. 26, 2018

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 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Nonvested stock awards	$	2,127	$	2,115	$	3,919	$	3,098
Performance-based market stock units (“MSU Grants”)		159		471		402		913
	$	2,286	$	2,586	$	4,321	$	4,011

Net Income Per Share and Weighted Average Shares

6 Months Ended

Jan. 26, 2018

Net Income Per Share and Weighted Average Shares [Abstract]

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 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Net income per share numerator	$	91,139	$	52,727	$	137,519	$	101,082

Net income per share denominator:
Weighted average shares		24,001,493		24,040,243		24,018,347		24,020,976
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		55,040		68,757		62,513		85,772
Diluted weighted average shares		24,056,533		24,109,000		24,080,860		24,106,748

Income Taxes

6 Months Ended

Jan. 26, 2018

Income Taxes [Abstract]

Income Taxes

11.	Income Taxes

On December 22, 2017, the U.S. government enacted P.L. 115-97, the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, reducing the U.S. federal corporate tax rate from 35% to 21% effective January 1, 2018. In accordance with Section 15 of the Internal Revenue Code, the Company will use a blended rate of 26.9% for our fiscal 2018 tax year, by applying a prorated percentage of the number of days prior to and subsequent to the January 1, 2018 effective date of the Tax Act.

The SEC’s Staff Accounting Bulletin No. 118 (“SAB 118”) provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting guidance under FASB Accounting Standards Codification Topic 740, Income Taxes (“ASC 740”). In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, the company must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. While the Company is able to make reasonable estimates of the impact of the reduction in corporate rate, the final impact of the Tax Act may differ from these estimates, due to, among other things, additional guidance that may be issued by the Internal Revenue Service, expected state tax responses to either follow or reject the federal changes, and changes in our interpretations and assumptions. The Company continues to gather additional information to determine the final impact.

During the second quarter of 2018, the Company recorded a provisional tax benefit for the re-measurement of deferred tax liabilities of $27,032 and $2,500 for long-term and short-term deferred tax liabilities, respectively.

Commitments and Contingencies

6 Months Ended

Jan. 26, 2018

Commitments and Contingencies [Abstract]

Commitments and Contingencies

12.	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 26, 2018, the Company had $9,455 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 26, 2018, the Company is secondarily liable for lease payments associated with two properties occupied by a third party. 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 26, 2018.

Condensed Consolidated Financial Statements (Policies)	6 Months Ended
Condensed Consolidated Financial Statements (Policies)	Jan. 26, 2018
Condensed Consolidated Financial Statements [Abstract]
Recent Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Adopted Inventory In July 2015, the Financial Accounting Standards Board (“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 fiscal years on a prospective basis. The adoption of this accounting guidance in the first quarter of 2018 did not have a significant impact on the Company’s consolidated financial position or results of operations. 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 fiscal years. This accounting guidance may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Other than the revised balance sheet presentation of deferred tax liabilities and assets, the adoption of this accounting guidance on a prospective basis in the first quarter of 2018 did not have a significant impact on the Company’s consolidated financial position or results of operations. Prior periods were not retrospectively adjusted for the adoption of this accounting guidance. 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 fiscal 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. The Company adopted this accounting guidance in the first quarter of 2018. The impact of recognizing excess tax benefits of $759 as a reduction to the provision for income taxes on a prospective basis resulted in a benefit of $0.03 per diluted share in the first quarter of 2018. The Company elected to apply the presentation of excess tax benefits on the statement of cash flows on a prospective basis; prior periods were not retrospectively adjusted. The Company also elected to continue estimating forfeitures of share-based awards. 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 fiscal 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. 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 fiscal 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. Modification of Share-Based Payment Awards In May 2017, the FASB issued accounting guidance to provide clarity, reduce the diversity in practice and to simplify the accounting guidance related to a change to the terms or conditions of a share-based payment award. This new standard provides guidance for evaluating which changes to the terms or conditions of a share-based payment award are substantive and require modification accounting to be applied. This accounting guidance is effective for fiscal periods beginning after December 15, 2017, and interim periods within those fiscal years on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2019. Accounting for Hedging Activities In August 2017, the FASB issued accounting guidance which amends the recognition, presentation and disclosure requirements of hedge accounting in order to better portray the economics of entities’ risk management activities, increase transparency and understandability of hedging relationships and simplify the application of hedge accounting. This accounting guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early application is permitted. The recognition requirements for cash flow and net investment hedges existing at the date of adoption will be applied using a cumulative-effect adjustment to retained earnings. The amended presentation and disclosure requirements will be applied on a prospective basis. The Company is currently evaluating the impact of adopting this accounting guidance in the first quarter of 2020.

Fair Value Measurements (Tables)

6 Months Ended

Jan. 26, 2018

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 26, 2018 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*	$	89,446	$	--	$	--	$	89,446
Interest rate swap asset (see Note 5)		--		3,307		--		3,307
Deferred compensation plan assets**		32,985		--		--		32,985
Total assets at fair value	$	122,431	$	3,307	$	--	$	125,738

Interest rate swap liability (see Note 5)	$	--	$	1,706	$	--	$	1,706
Total liabilities at fair value	$	--	$	1,706	$	--	$	1,706

The Company’s assets and liabilities measured at fair value on a recurring basis at July 28, 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*	$	82,524	$	--	$	--	$	82,524
Interest rate swap asset (see Note 5)		--		32		--		32
Deferred compensation plan assets**		31,196		--		--		31,196
Total assets at fair value	$	113,720	$	32	$	--	$	113,752

Interest rate swap liability (see Note 5)	$	--	$	6,880	$	--	$	6,880
Total liabilities at fair value	$	--	$	6,880	$	--	$	6,880

* Consists of money market fund investments.

Inventories (Tables)

6 Months Ended

Jan. 26, 2018

Inventories [Abstract]

Derivative Instruments and Hedging Activities [Abstract]

Inventories were comprised of the following at:

	January 26, 2018		July 28, 2017
Retail	$	120,945	$	119,446
Restaurant		21,414		20,252
Supplies		17,224		16,669
Total	$	159,583	$	156,367

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jan. 26, 2018

Summary of Interest Rate Swaps

A summary of the Company’s interest rate swaps at January 26, 2018 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 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		120,000		2.51	%
June 24, 2014	May 3, 2015		4		90,000		2.51	%
July 1, 2014	May 5, 2015		4		90,000		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 26, 2018 and July 28, 2017 were as follows:

(See Note 2)	Balance Sheet Location	January 26, 2018		July 28, 2017
Interest rate swaps	Prepaid expenses and other current assets	$	85	$	32
Interest rate swaps	Other assets		3,222		--
Total assets		$	3,307	$	32

Interest rate swaps	Other current liabilities	$	--	$	47
Interest rate swaps	Long-term interest rate swap liability		1,706		6,833
Total liabilities		$	1,706	$	6,880

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

The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCIL for the six months ended January 26, 2018 and the year ended July 28, 2017:

	Amount of Income Recognized in AOCIL on Derivatives (Effective Portion)
	Six Months Ended January 26, 2018		Year Ended July 28, 2017
Cash flow hedges:
Interest rate swaps	$	8,449	$	15,402

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 26, 2018 and January 27, 2017:

	Location of Loss Reclassified from AOCIL into Income (Effective Portion)	Amount of Loss Reclassified from AOCIL into Income (Effective Portion)
		Quarter Ended				Six Months Ended
		January 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Cash flow hedges:
Interest rate swaps	Interest expense	$	923	$	1,118	$	1,987	$	2,361

- Definition

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.

+ References

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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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=84234895&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

+ Details

Shareholders' Equity (Tables)

6 Months Ended

Jan. 26, 2018

Shareholders' Equity [Abstract]

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

The following table summarizes the changes in AOCIL, net of tax, related to the Company’s interest rate swaps for the six months ended January 26, 2018 (see Notes 2 and 5):

	Changes in AOCIL
AOCIL balance at July 28, 2017	$	(4,229	)
Other comprehensive income before reclassifications		6,806
Amounts reclassified from AOCIL		(1,380	)
Other comprehensive income, net of tax		5,426
AOCIL balance at January 26, 2018	$	1,197

Amounts Reclassified Out of AOCIL Related to Interest Rate Swaps

The following table summarizes the amounts reclassified out of AOCIL related to the Company’s interest rate swaps for the quarter and six months ended January 26, 2018:

	Amount Reclassified from AOCIL						Affected Line Item in the Condensed Consolidated Financial Statements
	Quarter Ended			Six Months Ended
Loss on cash flow hedges:
Interest rate swaps	$	(923	)	$	(1,987	)	Interest expense
Tax benefit		282			607		Provision for income taxes
	$	(641	)	$	(1,380	)	Net of tax

Segment Information (Tables)

6 Months Ended

Jan. 26, 2018

Segment Information [Abstract]

Composition of Total Revenue

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

	Quarter Ended				Six Months Ended
	January 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Revenue:
Restaurant	$	603,198	$	591,113	$	1,181,435	$	1,164,790
Retail		184,573		181,569		316,704		317,863
Total revenue	$	787,771	$	772,682	$	1,498,139	$	1,482,653

Share-Based Compensation (Tables)

6 Months Ended

Jan. 26, 2018

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 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Nonvested stock awards	$	2,127	$	2,115	$	3,919	$	3,098
Performance-based market stock units (“MSU Grants”)		159		471		402		913
	$	2,286	$	2,586	$	4,321	$	4,011

Net Income Per Share and Weighted Average Shares (Tables)

6 Months Ended

Jan. 26, 2018

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 26, 2018		January 27, 2017		January 26, 2018		January 27, 2017
Net income per share numerator	$	91,139	$	52,727	$	137,519	$	101,082

Net income per share denominator:
Weighted average shares		24,001,493		24,040,243		24,018,347		24,020,976
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		55,040		68,757		62,513		85,772
Diluted weighted average shares		24,056,533		24,109,000		24,080,860		24,106,748

Condensed Consolidated Financial Statements (Details) - Accounting Standards Update 2016-09 [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Oct. 27, 2017 USD ($) $ / shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Impact of recognizing excess tax benefits \| $	$ 759
Impact of recognizing excess tax benefits per diluted share (in dollars per share) \| $ / shares	$ 0.03

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

Jan. 26, 2018

Jul. 28, 2017

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

^[1]

$ 89,446

$ 82,524

3,307

^[2]

32,985

31,196

125,738

113,752

1,706

6,880

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

1,706

6,880

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

^[1]

89,446

82,524

^[2]

32,985

31,196

122,431

113,720

Significant Other Observable Inputs (Level 2) [Member]

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

^[1]

3,307

^[2]

3,307

1,706

6,880

Significant Unobservable Inputs (Level 3) [Member]

1,706

6,880

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

^[1]

^[2]

$ 0

[1]	Consists of money market fund investments.
[2]	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.

Inventories (Details) - USD ($)
$ in Thousands

Jan. 26, 2018

Jul. 28, 2017

Inventories [Abstract]

Retail

$ 120,945

$ 119,446

Restaurant

21,414

20,252

Supplies

17,224

16,669

Total

$ 159,583

$ 156,367

^[1]

[1]	This Condensed Consolidated Balance Sheet has been derived from the audited Consolidated Balance Sheet as of July 28, 2017, as filed with the Securities and Exchange Commission in the Company's Annual Report on Form 10-K for the fiscal year ended July 28, 2017.

Debt (Details) - Revolving Credit Facility [Member] $ in Thousands	6 Months Ended
	Jan. 26, 2018 USD ($)	Jul. 28, 2017 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 750,000
Line of credit facility, expiration date	Jan. 08, 2020
Outstanding borrowings	$ 400,000	$ 400,000
Amount of standby letters of credit	9,455
Current borrowing capacity	$ 340,545
Weighted average interest rates of swapped debt	3.21%
Restrictions on dividends payable	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.
Liquidity requirements	$ 100,000
Dividends threshold	$ 100,000
Leverage ratio, maximum	3.00
Multiplier used in calculating aggregate amount of cash dividends on shares of common stock in any fiscal year	4

Derivative Instruments and Hedging Activities (Details) $ in Thousands	6 Months Ended
	Jan. 26, 2018 USD ($)
Derivative [Line Items]
Company's credit spread	1.00%
Interest Rate Swap March 18, 2013 [Member]
Derivative [Line Items]
Trade date	Mar. 18, 2013
Effective date	May 03, 2015
Term	3 years
Notional amount	$ 50,000
Fixed rate	1.51%
Interest Rate Swap April 22, 2013 [Member]
Derivative [Line Items]
Trade date	Apr. 22, 2013
Effective date	May 03, 2015
Term	3 years
Notional amount	$ 25,000
Fixed rate	1.30%
Interest Rate Swap April 25, 2013 [Member]
Derivative [Line Items]
Trade date	Apr. 25, 2013
Effective date	May 03, 2015
Term	3 years
Notional amount	$ 25,000
Fixed rate	1.29%
Interest Rate Swap June 18, 2014 [Member]
Derivative [Line Items]
Trade date	Jun. 18, 2014
Effective date	May 03, 2015
Term	4 years
Notional amount	$ 120,000
Fixed rate	2.51%
Increase in notional amount each year	$ 40,000
Maximum notional amount	$ 160,000
Interest Rate Swap June 24, 2014 [Member]
Derivative [Line Items]
Trade date	Jun. 24, 2014
Effective date	May 03, 2015
Term	4 years
Notional amount	$ 90,000
Fixed rate	2.51%
Increase in notional amount each year	$ 30,000
Maximum notional amount	$ 120,000
Interest Rate Swap July 1, 2014 [Member]
Derivative [Line Items]
Trade date	Jul. 01, 2014
Effective date	May 05, 2015
Term	4 years
Notional amount	$ 90,000
Fixed rate	2.43%
Increase in notional amount each year	$ 30,000
Maximum notional amount	$ 120,000
Interest Rate Swap One January 30, 2015 [Member]
Derivative [Line Items]
Trade date	Jan. 30, 2015
Effective date	May 03, 2019
Term	2 years
Notional amount	$ 80,000
Fixed rate	2.15%
Interest Rate Swap Two January 30, 2015 [Member]
Derivative [Line Items]
Trade date	Jan. 30, 2015
Effective date	May 03, 2019
Term	2 years
Notional amount	$ 60,000
Fixed rate	2.16%
Interest Rate Swap Three January 30, 2015 [Member]
Derivative [Line Items]
Trade date	Jan. 30, 2015
Effective date	May 04, 2021
Term	3 years
Notional amount	$ 120,000
Fixed rate	2.41%
Interest Rate Swap Four January 30, 2015 [Member]
Derivative [Line Items]
Trade date	Jan. 30, 2015
Effective date	May 03, 2019
Term	2 years
Notional amount	$ 60,000
Fixed rate	2.15%
Interest Rate Swap Five January 30, 2015 [Member]
Derivative [Line Items]
Trade date	Jan. 30, 2015
Effective date	May 04, 2021
Term	3 years
Notional amount	$ 80,000
Fixed rate	2.40%

Derivative Instruments and Hedging Activities, Estimated Fair Values of Derivative Instruments (Details) - Interest Rate Swaps [Member] - USD ($)
$ in Thousands

Jan. 26, 2018

Jul. 28, 2017

Prepaid Expenses and Other Current Assets [Member]

Fair value, asset

^[1]

$ 3,307

$ 32

Fair value, liability

^[1]

1,706

6,880

Fair value, asset

^[1]

Other Assets [Member]

Other Current Liabilities [Member]

Fair value, asset

^[1]

3,222

Long-term Interest Rate Swap Liability [Member]

Fair value, liability

^[1]