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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 30, 2017	Feb. 28, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	National Vision Holdings, Inc.
Entity Central Index Key	0001710155
Current Fiscal Year End Date	--12-30
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		74,656,175
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$ 671.6

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 4,208	$ 4,945
Accounts receivable, net	43,193	34,370
Inventories	91,151	87,064
Prepaid expenses and other current assets	23,925	20,880
Total current assets	162,477	147,259
Property and equipment, net	304,132	256,414
Other assets:
Goodwill	792,744	793,229
Intangible assets	72,903
Other assets	10,988	12,330
Total non-current assets	1,421,314	1,383,858
Total assets	1,583,791	1,531,117
Current liabilities:
Accounts payable	35,708	39,400
Other payables and accrued expenses	77,611	69,402
Unearned revenue	27,739	25,600
Deferred revenue	62,993	57,996
Current maturities of long-term debt	7,258	7,285
Total current liabilities	211,309	199,683
Long-term debt, less current portion and debt discount	561,980	738,340
Other non-current liabilities:
Deferred revenue	31,222	29,432
Other liabilities	46,044	50,497
Deferred income taxes, net	73,648	111,278
Total other non-current liabilities	150,914	191,207
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 74,654 and 56,202 shares issued and outstanding as of December 30, 2017 and December 31, 2016, respectively	746	562
Additional paid-in capital	631,798	424,789
Accumulated other comprehensive loss	(9,868)	(14,556)
Retained earnings (accumulated deficit)	37,145	(8,675)
Treasury stock, at cost; 28 shares as of December 30, 2017 and December 31, 2016	(233)	(233)
Total stockholders’ equity	659,588	401,887
Total liabilities and stockholders’ equity	1,583,791	1,531,117
Trademarks and trade names
Other assets:
Intangible assets	240,547	240,547
Other
Other assets:
Intangible assets	$ 72,903	$ 81,338

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 30, 2017	Oct. 30, 2017	Feb. 02, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01			$ 0.01
Common stock, shares authorized	200,000,000	200,000,000		200,000,000
Common stock, shares, issued	74,654,000			56,202,000
Common stock, shares, outstanding	74,654,000		110,500,000	56,202,000
Treasury stock, shares	28,000			28,000

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Revenue:
Net product sales	$ 1,129,313	$ 980,953	$ 870,463
Net sales of services and plans	245,995	215,242	192,065
Total net revenue	1,375,308	1,196,195	1,062,528
Costs applicable to revenue (exclusive of depreciation and amortization):
Products	456,078	390,369	353,894
Services and plans	180,888	154,412	137,206
Total costs applicable to revenue	636,966	544,781	491,100
Operating expenses:
Selling, general and administrative expenses	597,924	524,238	474,053
Depreciation and amortization	61,115	51,993	44,069
Asset impairment	4,117	7,132	7,716
Litigation settlement	7,000	0	0
Other expense, net	950	1,667	913
Total operating expenses	671,106	585,030	526,751
Income from operations	67,236	66,384	44,677
Interest expense, net	55,536	39,092	36,741
Debt issuance costs	4,527	0	2,551
Earnings before income taxes	7,173	27,292	5,385
Income tax (benefit) provision	(38,647)	12,534	1,768
Net income	$ 45,820	$ 14,758	$ 3,617
Earnings per share:
Basic (usd per share)	$ 0.77	$ 0.26	$ 0.06
Diluted (usd per share)	$ 0.74	$ 0.26	$ 0.06
Weighted average shares outstanding:
Basic (shares)	59,895	56,185	55,962
Diluted (shares)	62,035	57,001	55,962
Comprehensive income (loss):
Net income	$ 45,820	$ 14,758	$ 3,617
Change in unrealized gain (loss) on hedge instruments	7,613	(5,116)	(7,065)
Tax (provision) benefit of change in unrealized gain (loss) on hedge instruments	(2,925)	1,844	2,837
Comprehensive income (loss)	$ 50,508	$ 11,486	$ (611)

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)	Treasury Stock
Beginning balance (shares) at Jan. 03, 2015		55,831
Beginning balance at Jan. 03, 2015	$ 523,594	$ 558	$ 557,142	$ (7,056)	$ (27,050)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to stockholders	(145,667)		(145,667)
Tax benefit of dividend	407		407
Stock option exercises (shares)		245
Stock option exercises	1,762	$ 3	1,759
Issuance of common stock, net (shares)		12
Issuance of common stock, net	110		110
Stock option compensation	6,635		6,635
Change in unrealized gain (loss) on hedge instruments	(4,228)			(4,228)
Net income	3,617				3,617
Ending balance (shares) at Jan. 02, 2016		56,088
Ending balance at Jan. 02, 2016	386,230	$ 561	420,386	(11,284)	(23,433)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Tax impact of stock option exercises	(619)		(619)
Stock option exercises (shares)		142
Stock option exercises	1,041	$ 1	1,040
Stock option compensation	4,293		4,293
Repurchase of stock options	(167)		(167)
Repurchase of common stock (shares)		(28)
Repurchase of common stock	(377)		(144)			(233)
Change in unrealized gain (loss) on hedge instruments	(3,272)			(3,272)
Net income	14,758				14,758
Ending balance (shares) at Dec. 31, 2016		56,202
Ending balance at Dec. 31, 2016	401,887	$ 562	424,789	(14,556)	(8,675)	(233)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to stockholders	(170,983)		(170,983)
Stock option exercises (shares)		212
Stock option exercises	1,092	$ 2	1,090
Issuance of common stock, net (shares)		18,240
Issuance of common stock, net	371,932	$ 182	371,750
Stock option compensation	5,152		5,152
Change in unrealized gain (loss) on hedge instruments	4,688			4,688
Net income	45,820				45,820
Ending balance (shares) at Dec. 30, 2017		74,654
Ending balance at Dec. 30, 2017	$ 659,588	$ 746	$ 631,798	$ (9,868)	$ 37,145	$ (233)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Cash flows from operating activities:
Net income	$ 45,820	$ 14,758	$ 3,617
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation of property and equipment	52,680	42,804	34,859
Amortization of intangible assets	8,435	9,189	9,210
Amortization of loan costs	7,078	3,906	3,816
Asset impairment	4,117	7,132	7,716
Deferred income tax (benefit) expense	(39,734)	11,181	1,528
Non-cash stock option compensation	5,152	4,293	6,635
Non-cash inventory adjustments	5,496	1,728	2,056
Bad debt expense	8,035	4,052	3,816
Debt issuance costs	4,527	0	2,551
Other	1,188	1,028	25
Changes in operating assets and liabilities:
Accounts receivable, net	(16,858)	(9,075)	(6,851)
Inventories	(9,583)	(13,827)	(10,664)
Other assets	(2,075)	(4,153)	(4,563)
Accounts payable	(3,692)	5,616	(82)
Deferred revenue	6,787	9,550	13,678
Other liabilities	12,879	9,406	15,784
Net cash provided by operating activities	90,252	97,588	83,131
Cash flows from investing activities:
Purchase of property and equipment	(93,219)	(90,026)	(77,157)
Purchase of investments	(1,500)	(1,000)	(2,850)
Other	(108)	(638)	(44)
Net cash used for investing activities	(94,827)	(91,664)	(80,051)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	174,924	0	148,185
Proceeds from issuance of common stock	371,932	0	110
Proceeds from exercise of stock options	1,092	915	1,762
Principal payments on long-term debt	(367,660)	(6,515)	(6,136)
Debt issuance costs	(4,527)	0	(2,551)
Dividend to stockholders	(170,983)	0	(145,667)
Other	(940)	(974)	(20)
Net cash provided by (used for) financing activities	3,838	(6,574)	(4,317)
Net change in cash and cash equivalents	(737)	(650)	(1,237)
Cash and cash equivalents, beginning of year	4,945	5,595	6,832
Cash and cash equivalents, end of year	4,208	4,945	5,595
Supplemental cash flow information ($000’s):
Cash paid for interest	47,090	34,873	33,386
Cash paid (received) for taxes	2,647	(415)	365
Property and equipment accrued at the end of the period	10,782	9,202	5,956
Fixed assets acquired under capital lease obligations	10,117	1,004	1,073
Non-cash issuance of common shares	0	157	0
Non-cash repurchase of common shares	$ 0	$ (188)	$ 0

Business and Significant Accounting Policies

12 Months Ended

Dec. 30, 2017

Accounting Policies [Abstract]

Business and Significant Accounting Policies

Nature of Operations

National Vision Holdings, Inc. (“NVHI,” the “Company,” “we,” “our,” or “us”) is a holding company whose operating subsidiaries include its indirect wholly owned subsidiary, National Vision, Inc. (“NVI”) and NVI’s direct wholly owned subsidiaries.

We are a leading value retailer of eyeglasses and contact lenses in the United States. We operated 1,013 and 943 retail optical locations in the United States and its territories as of the fiscal years ended December 30, 2017 and December 31, 2016, respectively, through our five store brands, including America’s Best Contacts and Eyeglasses (“America’s Best”), Eyeglass World, Vista Optical locations on U.S. Army/Air Force military bases (“Military”) and within Fred Meyer (“Fred Meyer”) stores, and our management and services arrangement with Walmart (“legacy”).

We sell contact lenses and optical accessory products to retail customers through our wholly owned e-commerce subsidiary, Arlington Contact Lens Service, Inc. (“AC Lens”). AC Lens operates several of its own proprietary retail web sites as well as web sites on behalf of certain independent retailers and insurance companies. AC Lens also distributes contact lenses to Walmart and Sam's Club under fee for services arrangements. Under the associated agreements, AC Lens sells contact lens products to Walmart and Sam’s Club store locations at its cost, and earns a fulfillment fee per order shipped.

Our wholly-owned subsidiary specialized health maintenance organization (“HMO”), FirstSight Vision Services, Inc. (“FirstSight”), that is licensed as a single-service health plan under California law, issues individual vision care benefit plans in connection with our America’s Best operations in California, provides or arranges for the provision of optometric services at almost all of the optometric offices next to Walmart and Sam’s Club stores in California and also sells contact lenses to its members in certain locations. As of December 30, 2017, FirstSight operated 124 optometric offices in Walmart locations in California, of which 20 are adjacent to vision centers we manage and that FirstSight subleases from us and 104 that are leased directly from Walmart.

Fiscal Year

We operate on a retail fiscal calendar that results in a given fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to December 31. In a 52-week fiscal year, each quarter contains 13 weeks of operations; in a 53-week fiscal year, each of the first, second and third quarters includes 13 weeks of operations and the fourth quarter includes 14 weeks of operations.

References herein to “fiscal year 2017,” “fiscal year 2016,” and “fiscal year 2015,” relate to the 52 weeks ended December 30, 2017, December 31, 2016, and January 2, 2016, respectively. Unless otherwise stated, references to years in this report relate to fiscal years rather than calendar years.

Basis of Presentation and Principles of Consolidation

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include our accounts and those of our subsidiaries, all of which are wholly-owned. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Initial Public Offering

On October 30, 2017, we completed an initial public offering of our common stock (“IPO”) in which we issued and sold 18,170,000 shares, including 2,370,000 shares pursuant to the exercise in full of the underwriters’ option to purchase additional shares. The shares sold in the offering were registered under the Securities Act pursuant to our Registration Statement on Form S-1 (File No. 333-220719), which was declared effective by the Securities and Exchange Commission on October 25, 2017. The shares were sold at an initial offering price of $22.00 per share, which generated net proceeds of approximately $375.8 million to the Company, after deducting underwriting discounts and commissions of approximately $24.0 million which included $0.7 million paid to KKR Capital Markets LLC (“KCM”), an affiliate of Kohlberg Kravis Roberts & Co. (“KKR Sponsor”), for underwriting services in connection with the IPO.

We primarily used the proceeds from the IPO to repay $125.0 million in outstanding aggregate principal amount of our second lien term loans and approximately $235.0 million of the outstanding principal amount of our first lien term loans and accrued and unpaid interest thereon. The repayment resulted in a retirement of debt in the amount of $353.3 million. Additionally, we paid $4.8 million of transaction related costs which are recorded as a charge against additional paid-in capital included in the consolidated balance sheets. The remaining $11.0 million of the proceeds was used for general corporate purposes, and payment of the termination fees described below.

NVI was party to a Monitoring Agreement, dated as of March 14, 2014, with KKR Sponsor and Berkshire Partners LLC (“Berkshire”), which was terminated automatically in accordance with its terms upon the completion of the IPO. The Company paid termination fees of approximately $3.6 million and $0.8 million to KKR Sponsor and Berkshire, respectively, recorded in selling, general and administrative expenses in the consolidated statements of operations. Affiliates of KKR Sponsor and Berkshire retained 58.2% and 13.6% ownership interest, respectively, in the Company after the IPO.

Second Amended and Restated Certificate of Incorporation and Bylaws

The Company’s Second Amended and Restated Certificate of Incorporation became effective in connection with the completion of the IPO on October 30, 2017, which among other things, provides that the Company’s authorized capital stock consists of 200,000,000 shares of Common Stock and 50,000,000 shares of preferred stock, par value $0.01 per share. The Company’s bylaws were also amended and restated as of October 30, 2017.

Stock Split

On October 12, 2017, the Company’s Board of Directors approved a 1.96627-for-one reverse stock split of the Company’s common stock, effective October 24, 2017. The accompanying consolidated financial statements and notes thereto give retroactive effect to the reverse stock split for all periods presented.

Property and Equipment

Property and equipment (“P&E”) is stated at cost less accumulated depreciation. Depreciation associated with P&E is included in depreciation and amortization in the accompanying consolidated statements of operations. When we retire or otherwise dispose of P&E, the cost and related accumulated depreciation are removed from the accounts and any gain or loss on sale of such assets is included in selling, general, and administrative (“SG&A”) expenses in the consolidated statements of operations. Major replacements, remodeling, or betterments are capitalized. Expenditures for maintenance and repairs are charged to SG&A.

P&E is depreciated for financial accounting purposes using the straight-line method over the following estimated useful lives:



Buildings	34 years
Land improvements^(a)	10 years
Equipment^(b)	5 - 7 years
Information systems hardware and software	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(a)	10 years
P&E under capital leases	Shorter of useful life or lease term
____________
(a) Depreciation of land and leasehold improvements is recognized over the shorter of the estimated useful life of the asset or the term of the lease. The term of the lease includes renewal options for additional periods if the exercise of the renewal is considered to be reasonably assured.
(b) Costs of developing or obtaining software for internal use, such as direct costs of materials or services and internal payroll costs related to the software development projects, are capitalized to equipment.

Goodwill and Intangible Assets

Indefinite-lived, non-amortizing intangible assets include goodwill and our trademarks and tradenames and are evaluated annually for impairment. Our annual testing date for impairment of goodwill and indefinite-lived intangible assets is the first day of the fourth fiscal quarter, which for fiscal years 2017 and 2016 was October 1, 2017, and October 2, 2016, respectively.

Definite-lived, amortizing intangible assets primarily consist of our contracts and relationships with certain retailers, and also our customer database tool. We amortize definite-lived intangible assets on a straight-line basis over their estimated useful lives, ranging from four to 23 years. Amortization expense associated with definite-lived intangible assets is included in depreciation and amortization in the accompanying consolidated statements of operations.

Fair Value Measurement of Assets and Liabilities (Non-Recurring Basis)

Non-financial assets such as P&E, intangible assets, and goodwill are subject to nonrecurring fair value measurements if impairment indicators are present. Factors we consider important that could trigger an impairment review include a significant under-performance relative to expected operating results, a significant or adverse change in customer business climate, or a significant negative industry or economic trend.

Impairment of P&E

We evaluate impairment of long-lived tangible store assets at an individual store level, which is the lowest level at which independent cash flows can be identified, when events or conditions indicate the carrying value of such assets may not be recoverable. If the store's projected undiscounted cash flows expected to be generated by the related assets over the remaining useful life are less than the carrying value of the related assets, we then measure impairment based on a discounted cash flow model (Level 3 inputs) and record an impairment charge as the difference between carrying value and estimated fair value.

In circumstances where a discounted cash flow analysis is not appropriate for assessing impairment of P&E, we use a liquidation approach, whereby we estimate the fair value of the subject assets based on the expected sales value that a market participant would be willing to pay for the assets in their current location and condition, net of expected cost to remove and transport the assets to the buyer where applicable.

As a result of our tests for impairment of our long-lived tangible store assets classified as held and used, impairment of $1.6 million, $1.2 million, and $2.4 million was recorded for fiscal year 2017, 2016, and 2015, respectively. There was no remaining fair value of the assets that were impaired during fiscal years 2017 and 2016.

We assess non-store tangible assets, including capitalized software costs in use or under development, for impairment if events or changes in circumstances indicate that the carrying value of those assets may not be recoverable. During fiscal year 2017 we recorded $1.5 million in impairment charges associated with capitalized software costs. There was no impairment of capitalized software costs during fiscal year 2016. An impairment charge of $0.5 million was recorded during fiscal year 2015 associated with software that was replaced during the year.

Impairment of Goodwill and Intangible Assets

If impairment indicators related to amortizing intangible assets are present, we estimate cash flows expected to be generated over the remaining useful lives of the related assets based on current projections. If the projected undiscounted cash flows are less than the carrying value of the related assets, we then measure impairment based on a discounted cash flow model (Level 3 inputs) and record an impairment charge as the difference between carrying value and estimated fair value.

We evaluate non-amortizing trademarks and tradenames for impairment annually or whenever events or changes in circumstances indicate that those assets may be impaired. We use the relief-from-royalty method to estimate fair value, whereby an estimated royalty rate is determined based on comparable licensing arrangements, which is then applied to the revenue projections for the subject asset. The estimated fair value is calculated using a discounted cash flow analysis (Level 3 inputs). We record an impairment charge as the excess of carrying value over estimated fair value.

Goodwill impairment is present if a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying value of goodwill. We consider each of our operating segments to be separate reporting units. We estimate the fair value of our reporting units primarily utilizing the income approach. The income approach is based on a discounted cash flow analysis and calculates the fair value of reporting units by estimating after-tax cash flows attributable to the reporting units and then discounting the after-tax cash flows using the weighted average cost of capital. The cash flows utilized in the discounted cash flow analysis are based on financial forecasts developed internally by management (Level 3 inputs) and require significant judgment. We record an impairment charge for the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. See Note 3. “Goodwill and Intangible Assets” for further detail on impairment of goodwill and intangible assets.

Equity Method Investment

The Company has an investment in a private start-up company whose principal business is licensing software to eyeglass retailers. We evaluate the recoverability of our investment by first reviewing the investment for any indicators of impairment. If indicators are present, we estimate the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, we make an assessment of whether the impairment is other-than-temporary (“OTTI”). In making this assessment, we consider the length of time and the extent to which fair value has been less than cost and our intent and ability to retain our interest long enough for a recovery in market value. Based on our current year assessment, we did not identify OTTI in our equity method investment. See Note 9. “Equity in Net Assets of Non-Consolidated Affiliates,” for further discussion relating to this investment.

Cost Method Investment

As of fiscal year end 2016, the Company had a $1.0 million cost method investment in a private start-up entity whose principal business is creating eyeglasses through three dimensional printing. During the second quarter of fiscal year 2017, management determined that it is unlikely that the business will be able to continue operations for the foreseeable future. Therefore, we have recorded an impairment charge for the entire amount of the investment in asset impairment in the consolidated statement of operations for fiscal year 2017.

Revenue Recognition

Product revenues include sales of prescription and non-prescription eyewear, contact lenses, and related accessories to retail customers (including those covered by managed care) and sales of inventory in which our customer is another retail entity. Revenues from services and plans include eye exams, eye-care club membership fees, product protection plans (i.e. warranties), and HMO membership fees. Service revenue also includes fees we earn for managing certain vision centers and performing laboratory processing services for our legacy partner.

Our retail customers generally make payments for prescription eyewear products at the time they place an order. Amounts we collect in advance for undelivered merchandise are reported as unearned revenue in the accompanying consolidated balance sheets. Unearned revenue at the end of a reporting period is estimated based on delivery times throughout the current month and generally ranges from four to 10 days. For sales of in-store non-prescription eyewear and related accessories, and paid eye exams, we recognize revenue at the point of sale. Revenue is recognized net of sales taxes and returns. The returns allowance is based on historical return patterns.

At our America’s Best brand, our lead offer is two pairs of eyeglasses and a free eye exam for one low price (“two-pair deal”). The Company has determined that the eye exam included in the two-pair deal represents a separate unit of accounting, and therefore, the offer represents a multiple element arrangement. However, the arrangement with the customer requires delivery of acceptable prescription eyeglasses. Otherwise the Company refunds the entire price of the two-pair deal. As a result, we do not allocate revenue to the eye exam associated with the two-pair deal, and we record all revenue associated with the offer in net product sales when the customer has received and accepted the merchandise.

We offer extended warranty plans that generally provide for repair and replacement of eyeglasses for a one- or two-year period after purchase. We offer three- and five-year eye-care club memberships to our contact lens customers. In California, we offer 12-month HMO memberships through our FirstSight subsidiary. We recognize service revenue under these programs on a straight-line basis over the warranty or service period. Amounts collected in advance for these programs are reported as deferred revenue in the accompanying consolidated balance sheets. Refer to Note 11. “Deferred Revenue” for further details.

Costs Applicable To Revenue

Costs applicable to revenue consist primarily of cost of products sold and costs of administering services and plans. Costs of products sold include (i) costs to procure non-prescription eyewear, contacts, and accessories which we purchase and sell in their finished form, (ii) costs to manufacture finished prescription eyeglasses, including direct materials, labor, and overhead, and (iii) remake costs, warehousing and distribution expenses, and internal transfer costs. Costs of services and plans include costs associated with warranty programs, eye-care club memberships, HMO memberships, eye-care practitioner and eye exam technician payroll, taxes, and benefits, and optometric and other service costs. Depreciation and amortization are excluded from costs applicable to revenue and are presented as separate items on the consolidated statements of operations.

As a component of the Company's consolidated procurement program, the Company frequently enters into contracts with its vendors that provide for payments of rebates or other allowances. These vendor payments are reflected in the carrying value of the inventory when earned or as progress is made toward earning the rebate or allowance and as a component of cost of products as the inventory is sold.

Selling, General and Administrative Expenses

SG&A includes store associate payroll, taxes, and benefits, store occupancy, advertising and promotion, field supervision, and corporate support. Advertising and promotion costs, including online marketing arrangements, newspaper, direct mail, television and radio, are recorded in SG&A and expensed at the time the advertising first occurs. Production costs of future media advertising and related promotional campaigns are deferred until the advertising events occur.

Advertising expenses were $93.2 million, $85.4 million and $77.0 million for fiscal years 2017, 2016, and 2015, respectively. Non-capital expenditures associated with opening new stores, including rent, store remodels, marketing expenses, travel and relocation costs, and training costs, are recorded in SG&A as incurred.

Leases

We lease our retail stores, optometric examination offices, distribution centers, vehicles, office space and optical labs, with the exception of our St. Cloud, Minnesota lab, which we own. Rent expense on operating leases is recorded in SG&A on a straight-line basis over the term of the lease, commencing on the date the Company takes possession of the leased property. Generally, the Company is required to pay base rent, real estate taxes, maintenance, and insurance. Certain of our lease agreements include rent holidays and rent escalation provisions and may include contingent rent provisions for sales in excess of specified levels. The Company recognizes rent holidays, including the time period during which the Company has control of the property prior to the opening of the store, as well as escalating rent provisions, as deferred rent expense and amortizes these balances on a straight-line basis over the term of the lease. Deferred rent is included in non-current other liabilities on the accompanying consolidated balance sheets.

For capital leases, a lease asset is recorded as P&E and a corresponding amount is recorded as a long-term debt obligation at an amount equal to the lesser of the net present value of minimum lease payments to be made over the lease term or the fair value of the property. The Company allocates capital lease payments to reductions in the lease obligation and interest expense using the effective interest method.

See Note 4. “Long-term Debt” for further details related to our capital lease commitments and Note 12. “Commitments and Contingencies” for further details related to our operating lease commitments.

Tenant improvement allowances (“TIAs”) are contractual amounts received by a lessee from a lessor for improvements made to leased properties by the lessee. TIAs are recorded in other non-current liabilities in the accompanying consolidated balance sheets, and are amortized as a reduction in rental expense over the life of the respective leases. Receivables for TIA’s are recorded in accounts receivable in the accompanying consolidated balance sheets.

In the event a leased store is closed before the expiration of the lease, the discounted remaining lease obligation less estimated sublease rental income, asset impairment charges related to improvements and fixtures, inventory write-downs, and other miscellaneous expenses are recognized when the store closes. Accruals for store closure costs are recorded in current and non-current other liabilities in the accompanying consolidated balance sheets and are not material.

Stock-Based Compensation

We measure stock-based compensation cost, which consists of grants of stock options, restricted stock units and restricted shares to employees, consultants and non-employee directors, based on the estimated grant date fair value of the awards. We recognize compensation expense for service-based vesting awards over the requisite service period. For awards that are subject to performance conditions, we recognize compensation expense once achievement of the conditions is considered to be probable. See Note 5. “Stock Incentive Plan” for further details related to our stock-based compensation plans.

Income Taxes

We account for deferred income taxes based on the asset and liability method. The Company must make certain estimates and judgments in determining income tax expense. We are required to determine the aggregate amount of income tax expense to accrue and the amount which will be currently payable or refundable based upon tax statutes of each jurisdiction in which the Company does business. Deferred income taxes are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets also include future tax benefits to be derived from the utilization of tax loss carry-forwards and application of certain carry-forward credits. The net carrying amount of deferred income tax assets and liabilities is recorded in non-current deferred income tax liabilities in the accompanying consolidated balance sheets.

Deferred income taxes are measured using enacted tax rates in effect for the years in which those differences are expected to be recovered or settled. The effect on deferred taxes from a change in the tax rate is recognized through continuing operations in the period that includes the enactment of the change. Changes in tax laws and rates could affect recorded deferred tax assets and liabilities in the future.

A valuation allowance is recorded if it is more-likely-than-not that some portion of a deferred tax asset will not be realized. Valuation allowances are released as positive evidence of future taxable income sufficient to realize the underlying deferred tax assets becomes available.

We establish a liability for tax positions for which there is uncertainty as to whether the position will ultimately be sustained. We assess our tax positions by determining whether it is more-likely-than-not that a tax position will be sustained upon examination by the appropriate taxing authorities, including resolution of any related appeals or litigation, based solely on the technical merits of the position. These calculations and assessments involve estimates and judgments because the ultimate tax outcomes are uncertain and future events are unpredictable. See Note 6. “Income Taxes” for further details.

On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the “Tax Legislation”) was enacted into law. We are required to recognize the effect of tax law changes in the period of enactment, such as re-measuring and reassessing the net realizability of our deferred tax assets and liabilities. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which allows us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. Since the Tax Legislation was passed late in the fourth quarter of 2017, and ongoing guidance and accounting interpretation is expected over the next 12 months, we consider the deferred tax re-measurements and other items to be incomplete due to the forthcoming guidance and our ongoing analysis of final year end data and tax positions. We expect to complete our analysis within the measurement period in accordance with SAB 118. See Note 6. “Income Taxes” for additional information.

Cash and Cash Equivalents

Cash consists of currency and demand deposits with banks. We consider all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. We maintain the majority of our cash and cash equivalents in one large national banking institution. Such amounts are in excess of federally insured limits. We also review cash balances on a bank by bank basis to identify book overdrafts. Book overdrafts occur when the amount of outstanding checks exceed the cash deposited at a bank. We reclassify book overdrafts, if any, to accounts payable.

Accounts Receivable, Net

Accounts receivable consists primarily of credit card receivables and receivables from health care plans and programs located throughout the United States (“managed care”). Accounts receivable are reduced by allowances for amounts that may become uncollectible. Estimates of our allowance for uncollectible accounts are based on our historical and current operating, billing, and collection trends.

Receivables from managed care represents 47% of accounts receivable, net, presented in the accompanying consolidated balance sheets as of fiscal year end 2017. A relatively small number of payors comprise the majority of our managed care receivables, which potentially subjects us to concentration of credit risk. We monitor the financial condition of managed care payors and establish an allowance for doubtful accounts for balances estimated to be uncollectible.

Inventories

The cost of inventory is determined using the weighted average cost method. Inventories at retail stores are comprised of finished goods and are valued at the lower of cost or estimated net realizable value (“NRV”). Manufacturing inventories are valued using absorption accounting which includes material, labor, other variable costs, and other applicable manufacturing overhead. Inventory values are adjusted for estimated obsolescence and written down to NRV based on estimates of current and anticipated demand, customer preference, merchandise age, planned promotional activities, technology developments, market conditions, and estimates of future retail sales prices. Shrinkage is estimated and recorded throughout the period as a percentage of cost of sales based on historical results and current inventory levels. Actual shrinkage is recorded throughout the year based upon periodic physical counts. See Note 2. “Details of Certain Balance Sheet Accounts” for further details.

The Company’s inventory purchasing consists primarily of contact lenses, eyeglass frames, and unprocessed eyeglass lenses. Our inventory is supplied by a small number of key vendors. During fiscal year 2017 , three vendors supplied 94% of contact lenses, four vendors supplied 56% of frames, and two vendors provided 91% of lenses. This exposes us to concentration of vendor risk.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets include primarily prepaid software maintenance and licensing fees, prepaid rent, prepaid insurance, and income taxes receivable.

Deferred Financing Costs and Loan Discounts

Costs incurred in connection with long-term debt which are paid directly to the Company’s lenders and to third parties are treated as a debt discount. Loan discounts are amortized over the term of the related financing agreement and included in interest expense in the accompanying consolidated statements of operations.

Other Non-Current Assets

Other non-current assets consist primarily of our equity method investment, below market leases, security deposits associated with leased properties, and other long-term prepaid expenses.

Self-Insurance Accruals

We are primarily self-insured for workers’ compensation, employee health benefits, and general liability claims. We record self-insurance liabilities based on claims filed, including the development of those claims, and an estimate of claims incurred but not yet reported. Should a different amount of claims occur compared to what was estimated, or costs of the claims increase or decrease beyond what was anticipated, reserves may need to be adjusted accordingly. We periodically update our estimates and record such adjustments in the period in which such determination is made. Self-insurance reserves are recorded in other payables and accrued expenses (current portion) and other non-current liabilities on an undiscounted basis in the accompanying consolidated balance sheets.

We reinsure worker’s compensation and medical claims above our retention levels of $0.3 million per claim and $0.2 million per individual, respectively. Estimated recoveries from reinsurance are included in prepaid expenses and other current assets in the amounts of $0.6 million and $0.4 million (current portion) as of fiscal year end 2017 and fiscal year end 2016, respectively, and other assets in the amounts of $1.0 million and $0.7 million (non-current portion) as of fiscal year end 2017 and fiscal year end 2016, respectively, in the accompanying consolidated balance sheets. The accrued obligation for self-insurance programs was $6.9 million and $7.2 million (current portion) and $4.6 million and $3.9 million (non-current portion) as of fiscal year end 2017 and fiscal year end 2016, respectively.

Derivative Financial Instruments

The Company uses interest rate swaps to manage its exposure to adverse fluctuations in interest rates by converting a portion of our debt portfolio from a floating rate to a fixed rate. We designate our interest rate swaps as cash flow hedges and formally document our hedge relationships, including identification of the hedging instruments and the hedged items, as well as our risk management objectives and strategies for undertaking the hedge transactions. We record all interest rate swaps in our consolidated balance sheets on a gross basis at fair value. We do not hold or enter into financial instruments for trading or speculative purposes.

The gain or loss resulting from fair value adjustments on cash flow hedges are recorded in accumulated other comprehensive loss (“AOCL”) in the accompanying consolidated balance sheets until the hedged item is recognized as interest expense in the consolidated statements of operations. We perform periodic assessments of the effectiveness of our derivative contracts designated as hedges, including the possibility of counterparty default.

To manage credit risk associated with our interest rate hedging program, we select counterparties based on their credit ratings and limit our exposure to any single counterparty. The counterparties to our derivative contracts are major domestic financial institutions with investment grade credit ratings. We periodically monitor the credit risk of our counterparties and adjust our hedging position as appropriate. The impact of credit risk, as well as the ability of each party to fulfill its obligations under our derivative financial instruments, is considered in determining the fair value of the contracts. Credit risk has not had a significant effect on the fair value of our derivative instruments. We do not have any credit risk-related contingent features or collateral requirements associated with our derivative contracts. See Note 7. “Interest Rate Derivatives” for further details.

Accumulated Other Comprehensive Loss

AOCL is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Accumulated other comprehensive loss, net of income tax, is entirely comprised of the cumulative change in the fair value of our hedging instruments. See Note 15. “Accumulated Other Comprehensive Loss” for further details of reclassifications out of AOCL.

Correction of an Error

During the first quarter of 2017, we identified an error in our previously issued 2016 consolidated financial statements related to contact lens inventories that were expired or expiring and could not be sold as of December 31, 2016. Fiscal year 2016 costs applicable to revenue (products) was understated by $2.1 million, and net income was overstated by $1.3 million. We corrected the error in the second quarter of fiscal year 2017. We concluded that the error was not material to the 2016 or the 2017 consolidated financial statements.

Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers. ASU No. 2014-09 provides new guidance related to the core principle that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The FASB issued additional ASUs to clarify certain aspects of ASU No. 2014-09, including ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) in March 2016, and ASU No. 2016-10, Identifying Performance Obligations and Licensing in April 2016. This new guidance is effective for fiscal years beginning after December 15, 2017, and interim reporting periods within that fiscal year. The Company will adopt this new guidance in the first quarter of 2018 using the modified retrospective method.

The majority of our revenue arrangements generally consist of a single performance obligation to transfer promised goods or services. Based on our evaluation process and review of our contracts with customers, the timing and amount of revenue recognized under the new guidance for those single performance obligation arrangements will be consistent with our current revenue recognition policy. Those revenues will be recognized at a point in time either at the point of sale or upon delivery and customer acceptance.

The remaining revenues are recognized over time, including product protection plans (i.e. warranties), eye care club memberships, and HMO memberships. Under current guidance, we recognize revenue ratably on a straight-line basis over the contract period for these programs. Under the new guidance we expect the timing of revenue recognition for membership programs to be accelerated since a significant amount of the membership services are transferred to the customer early in the contract period. Membership programs comprise approximately 3% of our consolidated net revenue. Absent a significant increase or decrease in the number of memberships sold each period, this change is not expected to have a significant impact on our on-going consolidated results of operations.

Under the modified retrospective transition method, periods prior to the date of adoption are not retrospectively revised, but a cumulative effect of adoption will be recognized for the impact on uncompleted contracts at the date of adoption.

In preparation of adopting this new guidance, we have implemented the necessary changes to our business processes, systems and controls to support recognition and disclosure upon adoption on December 31, 2017, which is the first day of our fiscal year 2018. We drafted our accounting policy for this new guidance based on a detailed review of our business and contracts. Except for the earlier recognition of revenue related to our membership programs, we do not currently expect that the adoption of the new guidance will have a material impact on our revenues, results of operations or financial position. We expect to make additional disclosures related to the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers as required by the new guidance.

In February 2016, the FASB issued ASU No. 2016-02, Leases. This new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either financing or operating, with such classification affecting the pattern of expense recognition in the statement of operations. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim reporting periods within that fiscal year. The guidance allows a cumulative transition approach in adjusting the opening balance of retained earnings. The Company will adopt this new guidance in the first quarter of 2019. We expect that adoption will have a material impact on the Company’s total assets and liabilities since we have a significant number of operating leases not currently recognized on our consolidated balance sheets.

In April 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. This new guidance simplifies the accounting for share-based payment transactions, including income tax consequences, classification of certain items on the statement of cash flows, forfeitures, and minimum statutory withholding requirements. We adopted this new guidance in the first quarter of 2017. The adoption of this new guidance did not have a material effect on the Company’s financial condition, results of operations, or cash flows.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other. This new guidance removes Step 2 of the goodwill impairment test. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. We adopted this new guidance during the first quarter of 2017. The adoption of this new guidance did not have a material effect on the Company’s financial condition, results of operations, or cash flows.

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities. This new guidance better aligns an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. Under the new guidance, the application of hedge accounting is simplified. Specifically, the guidance eliminates the requirement to separately measure and report hedge ineffectiveness. For cash flow hedges, the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness will be recorded in AOCL and will be reclassified to earnings in the same income statement line item that is used to present the earnings effect of the hedged item when the hedged item affects earnings. We adopted this new guidance during fiscal year 2017. The adoption of this new guidance did not have a material effect on the Company’s financial condition, results of operations, or cash flows.

Details of Certain Balance Sheet Accounts

12 Months Ended

Dec. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Certain Balance Sheet Accounts



In thousands	As of December 30, 2017			As of December 31, 2016
Accounts receivable, net:
Trade receivables	$	28,862		$	20,817
Credit card receivables	10,459			9,398
Tenant improvement allowances receivable	4,794			3,308
Other receivables	2,936			2,430
Allowance for uncollectible accounts	(3,858		)	(1,583		)
	$	43,193		$	34,370

Inventories:
Raw materials and work in process ⁽¹⁾	$	43,953		$	42,266
Finished goods	47,198			44,798
	$	91,151		$	87,064
(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.

Property and equipment, net:
Land and building	$	3,608		$	3,607
Equipment	220,088			161,714
Furniture and fixtures	42,708			36,046
Leasehold improvements	155,369			121,963
Construction in progress	18,375			28,099
Property under capital leases	11,756			3,244
	451,904			354,673
Less accumulated depreciation	147,772			98,259
	$	304,132		$	256,414



In thousands	As of December 30, 2017		As of December 31, 2016
Other payables and accrued expenses:
Employee compensation and benefits	$	21,134	$	19,009
Self-insurance reserves	6,854		7,209
Capital expenditures	10,782		9,202
Advertising	2,900		1,058
Reserves for customer returns and remakes	4,565		4,611
Legacy management and services agreement	6,000		4,591
Fair value of derivative liabilities	6,969		8,218
Rental expenses	1,140		2,172
Sales and use taxes	1,218		954
Amounts payable to charitable organizations	1,000		1,000
Supplies and other store support expenses	3,014		3,489
Litigation settlements	3,942		422
Other	8,093		7,467
	$	77,611	$	69,402

Other non-current liabilities:
Fair value of derivative liabilities	$	9,155	$	15,518
Tenant improvements ⁽²⁾	22,894		21,089
Deferred rental expenses	7,246		6,256
Other	6,749		7,634
	$	46,044	$	50,497
(2) Obligations for tenant improvements are amortized as a reduction of rental expense over the life of the respective leases.

Goodwill and Intangible Assets

12 Months Ended

Dec. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

No goodwill impairment was identified during fiscal year 2017. Fair value exceeded carrying value by a substantial margin (in excess of 75%) for each reporting unit except Fred Meyer, to which fair value exceeded carrying value by 5.0%. Fred Meyer goodwill comprises less than 5.0% of total consolidated goodwill. A goodwill impairment of $3.3 million and $4.8 million was identified at the AC Lens reporting unit for fiscal year 2016 and 2015, respectively, as a result of performing our annual impairment tests. The primary reason for the impairment charges in each year was due to competitive pressure in the e-commerce contact lens business. As of fiscal year end 2016, there was no remaining goodwill at the AC Lens reporting unit.

No impairment of indefinite-lived or definite-lived intangible assets was identified during fiscal year 2017. We recorded impairment of $1.3 million in definite-lived intangible assets and $1.2 million in P&E during fiscal year 2016 at AC Lens. There was no remaining fair value of definite-lived intangible assets after the impairment charges, and the remaining fair value of the P&E was $0.3 million.

The following table presents the changes in the carrying amount of our goodwill during fiscal year 2015, fiscal year 2016, and fiscal year 2017:



Balance as of January 2, 2016	In thousands
Goodwill	$	805,562
Accumulated impairment losses	(8,989		)
Subtotal	796,573
Balance as of December 31, 2016
Goodwill	805,562
Accumulated impairment losses	(12,333		)
Subtotal	793,229
Balance as of December 30, 2017
Goodwill	805,562
Other	(485		)
Total gross goodwill	805,077
Accumulated impairment losses	(12,333		)
Subtotal	$	792,744

Goodwill in our reportable segments (see Note 14. “Segment Reporting”) as of the fiscal year end 2017 is as follows:



In thousands	Owned & Host Segment			Legacy Segment		Corporate/Other			Total
Gross goodwill	$	736,901		$	60,069	$	8,107		$	805,077
Accumulated impairment	(4,226		)	—		(8,107		)	(12,333		)
Goodwill as of December 30, 2017	$	732,675		$	60,069	$	—		$	792,744

Indefinite-lived, non-amortizing intangible assets by major asset class are as follows:



In thousands	As of December 30, 2017		As of December 31, 2016
Trademarks and tradenames:
America's Best Contacts and Eyeglasses	$	200,547	$	200,547
Eyeglass World	40,000		40,000
	$	240,547	$	240,547

Definite-lived, amortizing intangible assets by major asset class are as follows:



	As of December 30, 2017					As of December 31, 2016
In thousands	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)
Contracts and relationships:
Legacy	$	65,000	$	22,470	7	$	65,000	$	16,582	8
Fred Meyer	35,000		5,787		19	35,000		4,271		20
Customer database	4,400		3,347		1	4,400		2,470		2
Other	738		631		1	738		477		1 - 2
	$	105,138	$	32,235		$	105,138	$	23,800

Aggregate amortization expense is included in depreciation and amortization in the accompanying consolidated statements of operations. Aggregate future estimated amortization expense is shown in the following table:



Fiscal Year	In thousands
2018	$	8,371
2019	7,598
2020	7,547
2021	7,405
2022	7,405
Thereafter	34,577
	$	72,903

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Long-term Debt

12 Months Ended

Dec. 30, 2017

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consists of the following:



In thousands	As of December 30, 2017			As of December 31, 2016
First lien term loans, due November 20, 2024	$	568,575		$	633,598
Second lien term loans	—			125,000
Term loans before unamortized discount	568,575			758,598
Unamortized discount	(11,322		)	(15,661		)
Total term loans	557,253			742,937
Less current maturities	(5,700		)	(6,515		)
Term loans - non-current portion	551,553			736,422
Capitalized lease obligations	11,985			2,688
Less current maturities	(1,558		)	(770		)
Long-term debt, less current portion and unamortized debt discount	$	561,980		$	738,340

The Company used proceeds from the IPO to repay $125.0 million in outstanding aggregate amount of our second lien term loans, $235.0 million in outstanding amount of our first lien term loans, and accrued and unpaid interest thereon.

The dividend discussed in Note 8. “Related Party Transactions” was funded with $175.0 million in borrowed funds under the Company’s first lien credit agreement which was then repaid with IPO proceeds, as discussed in Note 1. “Description of Business and Basis of Presentation.”

Scheduled annual maturities of debt are as follows:



Fiscal Year	In thousands
2018	$	5,700
2019	5,700
2020	5,700
2021	5,700
2022	5,700
Thereafter	540,075
	$	568,575

First Lien Credit Agreement - Joinder and Amendment Agreement

On October 30, 2017 and November 20, 2017, the credit agreement dated as of March 13, 2014, among Nautilus Acquisition Holdings, Inc., a wholly-owned subsidiary of the Company, NVI, as borrower, Goldman Sachs Bank USA, as administrative agent, collateral agent, swingline lender and letter of credit issuer, and the lenders from time to time party thereto and the other parties thereto (the “first lien credit agreement”) was amended pursuant to joinder and amendment agreements (the “Amendments”) to (a) establish new first lien term loans in an aggregate principal amount of $570.0 million to refinance all of the first lien term loans outstanding immediately prior to the amendment, (b) extend the maturity of such term loans to November 24, 2024 and (c) reprice the rates applicable to such term loans by amending the definitions of ABR, Applicable Margin and LIBOR Rate (each, as defined in the first lien credit agreement). Pursuant to the Amendments, the initial new Applicable Margins are (i) 2.75% for the new first lien term loans that are LIBOR Loans (as defined in the first lien credit agreement), which is 25 basis points lower than the previous interest rate margin and (ii) 1.75% for the new first lien term loans that are ABR Loans (as defined in the first lien credit agreement), which is 25 basis points lower than the previous interest rate margin. The Amendments further provide that the above Applicable Margins for the new term loans will be based on NVI’s public corporate credit rating from Moody’s as follows: (i) if NVI’s rating is lower than Ba3 (stable), the Applicable Margin will be 2.75% for LIBOR Loans and 1.75% for ABR Loans and (ii) if NVI’s rating is Ba3 (stable) or better, the Applicable Margin will step down to 2.50% for LIBOR Loans and 1.5% for ABR Loans, as specified in the Amendments.

The principal under the first lien credit agreement is payable in equal installments of $1.4 million on the last business day of each of our fiscal quarters. We are required to prepay an amount equal to 50% of the preceding fiscal year’s excess cash flow, as defined in the agreement. The required prepayment is reduced to 25% of the preceding year’s excess cash flow if our consolidated earnings before interest, tax, depreciation and amortization (“Credit Agreement EBITDA”) ratio, as defined in the agreement, is less than or equal to 4.25 to 1.00. No prepayment is required if such ratio is less than or equal to 4.00 to 1.00. We have not been required to make a prepayment related to our current first lien credit agreement.

The first lien credit agreement contains covenants that limit our ability to incur additional debt, create liens against our assets, make acquisitions, pay dividends or distributions on our stock, merge or consolidate with another entity, and transfer or sell assets.

Revolving Credit Facility - Joinder and Amendment Agreement

The first lien credit agreement provides for a revolving credit facility which was amended in October 2017 pursuant to a joinder and amendment agreement to (a) increase the size of the credit facility from $75.0 million to $100.0 million and (b) extend the maturity of such facility to October 15, 2022.

Amounts borrowed under the revolving credit facility bear interest, at our election, at either 2.0% over ABR or 3.0% over LIBOR. These interest rate spreads will decline to 1.75% and 2.75%, respectively, if our Credit Agreement EBITDA ratio declines to 4.25 to 1.00 or less, and the spreads will further decline to 1.50% and 2.50%, respectively, if such ratio declines to 3.75 to 1.00 or less. We may use up to $20.0 million of the revolving credit facility to issue letters of credit. Letter of credit fees accrue at the same rate as the then-applicable LIBOR spread. Our credit agreement also provides that, if aggregate borrowings (inclusive of certain letters of credit) under our revolving credit facility exceed 30% of the total revolving commitment, the ratio of debt under our first lien credit agreement to Credit Agreement EBITDA may not, on the last day of the applicable measurement period, exceed 7.75 to 1.00.

Capital Leases

Our obligations under capital leases are included in the consolidated balance sheets as long-term debt, less current portion and debt discount (non-current portion) and current maturities of long-term debt (current portion). Future minimum lease payments required under our capital leases as of fiscal year end 2017 are as follows:



	Fiscal Year	In thousands
	2018	$	2,760
	2019	2,297
	2020	1,993
	2021	1,876
	2022	1,791
	Thereafter	7,461
Total minimum lease payments		18,178
Less: Amount representing interest		(6,193		)
Present value of net minimum lease payments		11,985
Less: Current maturities of capital lease obligations		(1,558		)
Capital lease obligations - non-current portion		$	10,427

Stock Incentive Plans

12 Months Ended

Dec. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Incentive Plans

2014 Stock Incentive Plan

In 2014, our Board of Directors and stockholders of the Company approved the 2014 Stock Incentive Plan for Key Employees of National Vision Holdings, Inc. (formerly known as Nautilus Parent, Inc.) and its Subsidiaries (the “2014 Stock Incentive Plan”). Only stock options to purchase common stock of NVHI have been granted under the 2014 Stock Incentive Plan. The Board of Directors determined the exercise price of service-based and performance-based options on the basis of the fair value of the common stock as of the grant date. Due to the limited number of participants in the plan and high levels of retention among participants, forfeitures of outstanding service-based options are not expected to be material. Therefore, all service-based options outstanding at fiscal year end 2017 are expected to vest.

There are 10,988,827 stock options available for issuance pursuant to the 2014 Stock Incentive Plan, of which 10,347,067 are issued and outstanding, and 69,452 are authorized but unissued as of fiscal year end 2017.

Vesting of performance-based options is conditional upon the achievement by KKR Sponsor, with respect to its investment in the Company, of both a minimum internal rate of return and a minimum multiple of invested capital and then increases proportionally as the multiple of invested capital increases up to a defined target. No compensation expense has been recorded relating to performance based options since achievement of vesting conditions has not been deemed to be probable as of the fiscal years ended 2017, 2016 and 2015.

The following presents a roll-forward of performance-based options:



Outstanding options at January 3, 2015	5,135,945
Granted	544,032
Forfeited	(62,032	)
Outstanding options at January 2, 2016	5,617,945
Granted	396,690
Forfeited	(249,479	)
Outstanding options at December 31, 2016	5,765,156
Granted	758,996
Forfeited	—
Outstanding options at December 30, 2017	6,524,152

Compensation expense associated with service-based stock options is included in SG&A in the accompanying consolidated statements of operations. Service-based options have a contractual maturity of 10 years. The following table summarizes service-based stock option activity during the fiscal years ended 2017, 2016 and 2015 (amounts reflect the effects of modifications to exercise prices resulting from the recapitalization dividend discussed in Note 8. “Related Party Transactions”):



	Number of Options Outstanding		Weighted Average Exercise Price ($)	Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding options at January 3, 2015	3,423,962		9.83
Granted	362,688		8.20
Exercised	(211,891	)	8.22
Forfeited	(41,354	)	8.22
Outstanding options at January 2, 2016	3,533,405		7.45
Granted	264,460		13.80
Exercised	(142,402	)	7.31
Repurchased	(22,333	)	7.41
Forfeited	(104,605	)	7.24
Outstanding options at December 31, 2016	3,528,525		7.94
Granted	505,958		15.34
Exercised	(211,568	)	5.16
Outstanding options at December 30, 2017	3,822,915		7.22	6.96	$	127,641

Vested and exercisable at December 30, 2017	1,631,023		6.75	6.42	$	55,229

Substantially all service-based options vest in 20% annual increments on each of the first five anniversaries of the grant date. The Company has selected an accelerated method of recording compensation expense associated with service-based options, whereby the total grant-date fair value of the awards is amortized 46%, 25%, 16%, 9%, and 4% for years one through five, respectively.

The fair value of service-based stock option grants was estimated at the grant date using the Black-Scholes-Merton option pricing model. The following assumptions were used in our estimate:



	Fiscal Year 2017		Fiscal Year 2016
Expected term	6.5 years		6.5 years
Expected volatility	60.4	%	60.4	%
Risk-free interest rate	2.0	%	1.6% to 2.0%
Dividend yield	—	%	—	%

The expected term was based on the mid-point between the weighted average time to vesting and the contractual time to maturity. Since all options granted in the 2014 Stock Incentive Plan were issued prior to the IPO, expected volatility was based on the volatility of comparable publicly traded companies. The risk-free interest rate was based on the U.S. Treasury yield curve. The dividend yield was based on our expectation of not paying dividends on the common stock of NVHI for the foreseeable future.

The following table summarizes information about the 2014 Stock Incentive Plan service-based options outstanding as of fiscal year end 2017:



Grants During:	Weighted Average Grant Date Fair Value		Options Granted	Aggregate Grant Date Fair Value (In Thousands)		Remaining Unrecognized Service Cost (In Thousands)		Remaining Requisite Service Period (Years)	Non-Vested Options Outstanding	Fair Value Of Options Vested (In Thousands)
Fiscal Year 2015	$	5.63	362,688	$	2,043	$	386	2.70	187,796	$	894
Fiscal Year 2016	$	8.58	264,460	$	2,270	$	1,125	3.81	211,568	$	454
Fiscal Year 2017	$	9.01	505,958	$	4,559	$	3,579	4.53	505,958	$	—

The aggregate intrinsic value of service-based options exercised was $1.5 million for the fiscal year ended December 30, 2017 and $0.3 million for the fiscal year ended December 31, 2016.

Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan

As of fiscal year end 2017, there were 169,049 options to purchase common shares of NVHI vested and outstanding under the Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan, at a weighted average exercise price of $1.66.

2017 Omnibus Incentive Plan

In connection with the IPO, on October 23, 2017 the Company’s Board of Directors adopted, and its stockholders approved, the National Vision Holdings, Inc. 2017 Omnibus Incentive Plan (the “2017 Omnibus Incentive Plan”). The total number of shares of common stock that may be issued under the plan is 4,000,000. Under the plan, we may grant stock options, stock appreciation rights, restricted stock, restricted stock units, other equity-based awards and other cash-based awards to our employees, directors, officers, consultants and advisers.

Effective October 25, 2017, we granted stock options to purchase 92,443 shares of our common stock at an exercise price of $22.00 per share to an employee under the 2017 Omnibus Incentive Plan. The fair value of the award was $0.8 million on the grant date, with three year vesting. As of fiscal year-end 2017, none of the options had vested, the remaining contractual life was 9.82 years, the intrinsic value of the award was $1.7 million, the remaining unrecognized service cost was $0.8 million, and the remaining requisite service period was 2.82 years.

Effective October 26, 2017, we granted an aggregate of 182,138 restricted stock units, net of forfeitures, to certain employees under the 2017 Omnibus Incentive Plan. Restricted stock units of 59,800 vest in two equal installments on the first and second anniversaries of the grant date, and 122,338 restricted stock units vest in three equal installments on the first, second and third anniversaries of the grant date. The fair value of the awards on the grant date were $1.3 million and $2.7 million for the two and three year awards, respectively. The remaining unrecognized service cost was $1.2 million and $2.5 million for the two and three year awards, respectively. The remaining requisite service period was 1.82 years and 2.82 years for the two and three year awards, respectively.

Income Taxes

12 Months Ended

Dec. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

The income tax (benefit) provision consists of:



In thousands	Fiscal Year 2017			Fiscal Year 2016		Fiscal Year 2015
Current income tax:
Federal	$	5		$	51	$	38
State	1,082			1,302		202
Deferred income tax:
Federal	(40,044		)	10,058		1,360
State	310			1,123		168
Income tax (benefit) provision	$	(38,647	)	$	12,534	$	1,768

Our income tax (benefit) provision differs from the amounts computed by multiplying earnings before income taxes by the statutory federal income tax rate as shown in the following table:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Federal income tax provision at statutory rate of 35%	$	2,511		$	9,552		$	1,885
State income tax provision, net of federal income tax	273			1,058			211
Increase (decrease) in deferred tax asset valuation allowance	769			979			(497		)
Benefit of tax legislation	(42,965		)	—			—
Other, net	765			945			169
Net income tax (benefit) provision	$	(38,647	)	$	12,534		$	1,768
Effective income tax rate	(538.8		)%	45.9		%	32.8		%

The Tax Legislation signed into law on December 22, 2017 makes broad and complex changes to the U.S. tax code including, but not limited to: (1) reducing the U.S. federal rate from 35% to 21%, effective January 1, 2018; (2) eliminating the corporate alternative minimum tax (“AMT”) and changing how the credits can be realized; (3) creating new limitations on deductions for interest expense; (4) changing rules related to limitations of net operating loss (“NOL”) carryforwards, and (5) enhancing and extending through 2026 the option to claim accelerated depreciation deductions on qualified property.

The effects of new legislation are required to be recognized upon enactment. Accordingly, recognition of the tax effects of the legislation is required in the annual period that includes December 22, 2017. The Company recorded a tax benefit of $43.0 million due to a re-measurement of deferred tax assets and liabilities in fiscal year 2017.

Pursuant to the guidance within SAB 118, as of December 30, 2017, the Company recognized the provisional effects of the enactment of the Tax Legislation for which measurement could be reasonably estimated. Although we continue to analyze certain aspects of the new legislation and refine our assessment, the ultimate impact of the legislation may differ from these estimates due to our continued analysis or further regulatory guidance that may be issued as a result of the legislation. Adjustments to the provisional amounts recorded by the Company as of December 30, 2017 that are identified within a subsequent measurement period of up to one year from the enactment date will be included as an adjustment to tax expense from continuing operations in the period the amounts are determined.

The sources of the differences between the financial accounting and tax bases of our assets and liabilities that give rise to the deferred tax assets and deferred tax liabilities and the tax effects of each are as follows:



In thousands	As of December 30, 2017			As of December 31, 2016
Deferred tax assets:
NOL carry-forwards	$	6,278		$	3,195
AMT payment and employment credits	3,741			2,721
Deferred revenue	7,643			10,751
Accrued expenses and reserves	12,934			15,193
Loss on equity and cost method investments	1,175			1,000
Stock option compensation	6,606			6,489
Unrealized losses on hedging instruments	4,130			9,180
Other	4,222			5,171
Subtotal	46,729			53,700
Valuation allowances	1,296			1,131
Total net deferred tax assets	45,433			52,569
Deferred tax liabilities:
Depreciation of property and equipment	(38,355		)	(41,872		)
Amortization of intangible assets	(78,329		)	(120,346		)
Other	(2,397		)	(1,629		)
Total deferred tax liabilities	(119,081		)	(163,847		)
Net deferred tax liabilities	$	(73,648	)	$	(111,278	)

As of fiscal year end 2017, we had available U.S. federal NOL carry-forwards aggregating to $26.1 million that can be utilized to reduce future federal income taxes. If not utilized, $5.1 million, $3.3 million and $17.7 million of these carry-forward losses expire at the end of fiscal year 2020, fiscal year 2033 and fiscal year 2037, respectively. In addition, we have NOL carry-forwards in varying amounts and with varying expiration dates in various states in which we operate. We believe it is more-likely-than-not that we will realize a tax benefit for these NOL’s in the future.

As of fiscal year end 2017, we also have non-expiring federal and state AMT carry-forward credits and employment credits totaling $3.7 million available to offset certain future taxes.

We have a $0.9 million deferred income tax asset for non-deductible losses that are associated with our equity method non-consolidated affiliate and a $0.3 million deferred income tax asset for capital losses associated with the impairment of a cost method investment. We do not expect to generate significant capital gains from these investments, or other sources, in the near future. Therefore, we believe it is more-likely-than-not that we will not realize a tax benefit for these deferred income tax assets, and accordingly we have established a full valuation allowance for those amounts.

As a result of our utilization of NOL carry-forwards to reduce or eliminate subsequent years’ tax obligations, our federal and a substantial number of our state income tax returns for fiscal years 2001 through 2016 remain open for examination by the tax authorities. We had no uncertain tax positions or unrecognized tax benefits as of fiscal year 2017 and fiscal year 2016.

Interest Rate Derivatives

12 Months Ended

Dec. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Interest Rate Derivatives

The Company is party to three pay-fixed and receive-floating interest rate swap agreements to offset the variability of cash flows in LIBOR-indexed debt interest payments, subject to a 1.0% floor, attributable to changes in the benchmark interest rate from March 13, 2017 to March 13, 2021 related to its current first lien credit agreement. The fixed rates associated with the first derivative (“Derivative 1”) notional amount of $175.0 million and the second derivative (“Derivative 2”) notional amount of $225.0 million were 3.4063% and 3.5125% , respectively. The fixed rate associated with the third derivative (“Derivative 3”) notional amount of $100.0 million was 2.6000%. Derivative 1 will hedge the first amount of LIBOR-based interest payments up to its applicable notional amount and Derivative 2 will hedge the next amount (i.e., the first amount not already hedged by Derivative 1) up to its applicable notional amount. Derivative 3 will hedge interest payments not already hedged by Derivatives 1 and 2.

Changes in the cash flows of each derivative are expected to be highly effective in offsetting the changes in interest payments on a principal balance equal to the derivative’s notional amount, attributable to the hedged risk.

Our cash flow hedge position related to interest rate derivative contracts is as follows:



In thousands	Notional Amount		Final Maturity Date	Other Payables and Accrued Expenses		Other Liabilities		AOCL, Net of Tax
As of December 31, 2016	$	500,000	March 2021	$	8,218	$	15,518	$	14,556
As of December 30, 2017	$	500,000	March 2021	$	6,969	$	9,155	$	9,868

As of December 30, 2017, the Company expects to reclassify $7.0 million of AOCL into earnings in the next 12 months. See Note 15. “Accumulated Other Comprehensive Loss” for further detail regarding AOCL.

Related Party Transactions

12 Months Ended

Dec. 30, 2017

Related Party Transactions

Transactions With Equity Sponsors

Under certain agreements we have entered into with our equity sponsors, we recorded the following expenses:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
KKR Sponsor	$	7,259	$	851	$	3,533
Berkshire	$	955	$	199	$	194

Fees paid to equity sponsors include retainer fees and certain other on-going project-oriented initiatives and are presented in SG&A in the accompanying consolidated statements of operations, except KKR Sponsor fees during the fiscal year 2017 include $2.3 million presented in debt issuance costs. Fiscal year 2017 expenses also include the monitoring agreement termination fee discussed in Note 1. “Description of Business and Basis of Presentation.”

Dividend & Stockholders’ Equity

On February 2, 2017, the Company declared a recapitalization dividend to its stockholders. Common stockholders received a dividend per common share of $1.51. There were 110.5 million common shares outstanding and eligible for the dividend. Vested and roll-over option holders received an additional cash payment of $1.51 per option, for an aggregate payment of $3.7 million. The income tax benefit of the additional cash payment was $1.4 million. The exercise price of unvested options was reduced by $1.51 per option. Since the Company was in an accumulated deficit position on the date of declaration, according to our accounting policy the combined total cash payment of $171.0 million was recorded as a reduction to additional paid-in capital in the accompanying consolidated balance sheet.

Equity in Net Assets of Non-Consolidated Affiliates

12 Months Ended

Dec. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Equity in Net Assets of Non-Consolidated Affiliates

From time to time the Company invests in technological innovators across the optical retail industry. One of these investments is a nonconsolidated affiliate (the “affiliate”) in which an equity ownership interest is maintained and for which the equity method of accounting is used due to our ability to exert significant influence over decisions relating to the affiliate’s operating and financial affairs. We hold a 28% equity interest in the affiliate as of fiscal year end 2017.

Revenues and expenses of the affiliate are not consolidated into our financial statements; rather, our proportionate share of the earnings or losses of the affiliate is reflected as equity income or loss in other expense, net in our consolidated statements of operations. We have determined that we should not consolidate our affiliate because, although it is a variable interest entity, we are not the primary beneficiary. After adjusting the carrying value of our interest in the affiliate’s reported net losses, our investment balance in the business was $2.3 million and $3.3 million at the end of fiscal years 2017 and 2016, respectively, which is included in other assets in the accompanying consolidated balance sheets.

The Company's fiscal year end for 2017 was December 30, 2017. Our affiliate's year-end date was December 31, 2017. The Company's fiscal year end for 2015 was January 2, 2016. Our affiliate's year-end date was December 31, 2015. No material transactions occurred on December 31, 2017 or from January 1, 2016 to January 2, 2016 requiring adjustment to the our affiliate's or our results as presented in the tables below.

Summarized balance sheet information for our affiliate is as follows:



In thousands	As of December 30, 2017			As of December 31, 2016
Current assets	$	2,407		$	1,610
Non-current assets	557			718
Total assets	2,964			2,328

Current liabilities	1,046			1,018
Non-current liabilities	3,000			—
Total liabilities	4,046			1,018

Net assets	$	(1,082	)	$	1,310

Summarized income statement information for our affiliate is as follows:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Revenues	$	6,244		$	5,847		$	1,910
Net loss	$	(3,433	)	$	(4,153	)	$	(3,233	)
National Vision’s share of net loss	$	(1,001	)	$	(1,370	)	$	(896	)

In the ordinary course of business we are a licensee of our affiliate. Additionally, on August 29, 2017, the affiliate issued a secured convertible promissory note to the Company, in the principal amount of $1.5 million, due on August 29, 2020. The note bears interest at a fixed rate of 5.00% with an additional variable interest component based on the base rate of the Bank of England, as published on the first day of each calendar year, which is 0.25% for 2017.

Transactions with our non-consolidated affiliate included in our consolidated statements of operations and balance sheets were as follows:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Statements of operations
Licensing fees (SG&A)	$	955	$	987	$	1,061

	As of December 30, 2017		As of December 31, 2016
Balance sheets
Prepaid expenses and other current assets	$	172	$	172
Other assets ⁽¹⁾	$	1,518	$	—

____________


(1)	Other assets include loan receivable and accrued interest receivable of $1.5 million and $18.0 thousand, respectively as of December 30, 2017.

Fair Value Measurements of Financial Assets and Liabilities

12 Months Ended

Dec. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements of Financial Assets and Liabilities

Fair Value Measurement of Financial Assets and Liabilities

The Company uses a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions.

Under U.S. GAAP, the Company is required to, a) measure certain assets and liabilities at fair value or, b) disclose the fair values of certain assets and liabilities recorded at cost. Accounting standards define fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated assuming the transaction occurs in the principal or most advantageous market for the asset or liability and includes consideration of non-performance risk and credit risk of both parties. A three-tier fair value hierarchy prioritizes the inputs used in measuring fair value. These tiers include:


•	Level 1 - Valuation inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.


•	Level 2 - Valuation inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in inactive markets, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.


•	Level 3 - Valuation inputs are unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.

The fair value estimates of financial instruments are not necessarily indicative of the amounts we might pay or receive in actual market transactions. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.

Cash and Cash Equivalents

The carrying amount of cash and cash equivalents approximates fair value due to the short term maturity of the instruments. All cash and cash equivalents are denominated in U.S. currency.

Accounts Receivable

The carrying amount of accounts receivable approximates fair value due to the short-term nature of those items and the effect of related allowances for doubtful accounts.

Accounts Payable and Other Payables and Accrued Expenses

The carrying amounts of accounts payable and other payables and accrued expenses approximate fair value due to the short-term nature of those items.

Long-term Debt First Lien Credit Agreements

Loans under our first lien credit agreement are traded in private markets on a less-than-daily basis. Fair value is based on the average of trading prices and bid/ask quotes around period-end (Level 2 inputs). The estimated fair values of our first lien term loans were $570.2 million and $753.0 million as of fiscal year end 2017 and 2016, respectively, compared to carrying values of $557.3 million and $742.9 million, respectively, which includes the current portion, and is net of unamortized discounts and deferred debt issuance costs.

Long-term Debt - Capital Leases

The fair value of capital lease obligations is based on estimated future contractual cash flows discounted at an appropriate market rate of interest (Level 2 inputs). The estimated fair values of our capital leases were $14.0 million and $2.9 million as of fiscal year end 2017 and 2016, respectively, compared to carrying values of $12.0 million and $2.7 million, respectively.

Interest Rate Derivatives

We recognize as assets or liabilities at fair value the estimated amounts we would receive or pay upon a termination of interest rate swaps prior to their scheduled expiration dates. The fair value was based on information that is model-driven and whose inputs were observable (Level 2 inputs). See Note 7. “Interest Rate Derivatives” for further details.

Deferred Revenue

12 Months Ended

Dec. 30, 2017

Revenue Recognition and Deferred Revenue [Abstract]

Deferred Revenue

The following depicts a roll-forward of deferred revenue:



	Fiscal Year 2017
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	23,855		$	63,478		$	95		$	87,428
Sold	54,028			46,443			7,926			108,397
Revenue recognized	(51,152		)	(42,491		)	(7,967		)	(101,610		)
End of year	$	26,731		$	67,430		$	54		$	94,215

Current	$	26,312		$	36,627		$	54		$	62,993
Non-current	419			30,803			—			31,222
	$	26,731		$	67,430		$	54		$	94,215

	Fiscal Year 2016
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	20,972		$	56,802		$	104		$	77,878
Sold	48,021			43,767			10,915			102,703
Revenue recognized	(45,138		)	(37,091		)	(10,924		)	(93,153		)
End of year	$	23,855		$	63,478		$	95		$	87,428

Current	$	23,437		$	34,464		$	95		$	57,996
Non-current	418			29,014			—			29,432
	$	23,855		$	63,478		$	95		$	87,428

Deferred revenue recorded as of fiscal year end 2017 is expected to be reflected in future operating results as follows:



Fiscal Year	In thousands
2018	$	62,993
2019	23,021
2020	7,766
2021	329
2022	106
	$	94,215

Commitments and Contingencies

12 Months Ended

Dec. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

Total rental expenses related to operating leases were approximately $77.1 million, $69.7 million, and $60.4 million in the fiscal years ended 2017, 2016 and 2015, respectively. Total rental expense includes percentage rent of approximately $6.1 million, $6.3 million, and $4.6 million during the fiscal years ended 2017, 2016 and 2015, respectively.

As of fiscal year end 2017, aggregate future minimum rental payments under our operating leases are as follows:



Fiscal Year	In thousands
2018	$	81,939
2019	73,745
2020	60,843
2021	46,574
2022	34,782
Thereafter	86,151
	$	384,034

Other Agreements

The Company is a party to a multi-year marketing agreement with a term from January 2017 through December 2019, with no renewal provision. The Company has committed to pay a total fee of $9.9 million over the term of the agreement.

Warranty Costs

The Company records an allowance for the estimated amount of future warranty costs when the related revenue is recognized, which is recorded in other payables and accrued expenses on the accompanying consolidated balance sheets. Expense associated with warranty costs is presented in cost of services and plans in the accompanying consolidated statements of operations. Estimated future warranty costs are primarily based on historical experience of identified warranty claims. However, there can be no assurance that future warranty costs will not exceed historical amounts. The following details the activity in our product warranty liability accounts:



In thousands	Fiscal Year 2017			Fiscal Year 2016
Beginning of year balance	$	1,343		$	1,077
Accrued obligation	26,806			23,857
Claims paid	(26,556		)	(23,591		)
End of year balance	$	1,593		$	1,343

401(k) Plan

The Company sponsors a 401(k) plan into which employees may defer a portion of their wages. We match a portion of such deferred wages. The expense for the plan was $3.1 million, $2.6 million, and $2.2 million in the fiscal years ended 2017, 2016 and 2015, respectively. Expense associated with our 401(k) plan is presented in SG&A in the accompanying consolidated statements of operations.

Legal Proceedings

From time to time, the Company is involved in various legal proceedings incidental to its business. Because of the nature and inherent uncertainties of litigation, we cannot predict with certainty the ultimate resolution of these actions and, should the outcome of these actions be unfavorable, the Company's business, financial position, results of operations or cash flows could be materially and adversely affected.

The Company reviews the status of its legal proceedings and records a provision for a liability when it is considered probable that both a liability has been incurred and the amount of the loss can be reasonably estimated. This review is updated periodically as additional information becomes available. If either or both of the criteria are not met, we reassess whether there is at least a reasonable possibility that a loss, or additional losses, may be incurred. If there is a reasonable possibility that a loss may be incurred, we disclose the estimate of the amount of the loss or range of losses, or that an estimate of loss cannot be made. The Company expenses its legal fees as incurred.

In January 29, 2016, FirstSight, our wholly-owned specialized health maintenance organization, was named as a defendant in a proposed class action filed on behalf of all persons who paid for an eye examination from an optometrist at a Walmart location in California from November 5, 2009 through the date of the resolution of the litigation. The complaint alleges in particular that FirstSight participated in arrangements that caused the illegal delivery of eye examinations to the plaintiffs, and that FirstSight thereby violated, among other statutes, the Unfair Competition and False Advertising laws of California. In March 2017, the Court granted a motion to dismiss previously filed by FirstSight. The plaintiffs have appealed to the U.S. Court of Appeals for the Ninth Circuit. The Company believes that the claim against it is without merit and intends to vigorously defend the litigation.

In May 2017, a complaint (the “1-800 Contacts Matter”) was filed against the Company and other defendants alleging, on behalf of a proposed class of consumers who purchased contact lenses online, that 1-800 Contacts, Inc. entered into a series of agreements with the other defendants, including AC Lens, the Company’s subsidiary, to suppress certain online advertising and that each defendant thereby engaged in anticompetitive conduct in violation of the Sherman Antitrust Act. The Company has settled the 1-800 Contacts Matter for $7.0 million, without admitting liability. Accordingly, the Company recorded a charge for this amount in litigation settlement in the accompanying consolidated statement of operations during the second quarter of fiscal year 2017.

On November 8, 2017, the court in the 1-800 Contacts Matter entered an order preliminarily approving the settlement agreement, subject to a settlement hearing. Pursuant to this order, the Company deposited 50% of the settlement amount, or $3.5 million, into an escrow account, to be distributed subject to and in accordance with the terms of the settlement agreement and any further order of the court.

Earnings Per Share

12 Months Ended

Dec. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted average shares outstanding for the period and includes the dilutive impact of potential new shares issuable upon exercise of stock options and vesting of restricted stock units. Potentially dilutive securities are excluded from the computation of diluted EPS if their effect is anti-dilutive. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows:



In thousands, except EPS	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Net income	$	45,820	$	14,758	$	3,617
Weighted average shares outstanding for basic EPS	59,895		56,185		55,962
Effect of dilutive securities:
Stock options	2,140		817		—
Weighted average shares outstanding for diluted EPS	62,035		57,001		55,962
Basic EPS	$	0.77	$	0.26	$	0.06
Diluted EPS	$	0.74	$	0.26	$	0.06
Anti-dilutive options outstanding excluded from EPS	254		88		887

Segment Reporting

12 Months Ended

Dec. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

The Company’s reportable segments were determined on the same basis as used by the Chief Operating Decision Maker (“CODM”) to evaluate performance internally. Our operations consist of two reportable segments:

•

Owned & host store brands - Our owned brands consist of our America’s Best and Eyeglass World operating segments. In America’s Best stores, vision care services are provided by optometrists employed either by us or by independent professional corporations. Eyeglass World locations primarily feature independent optometrists to perform eye exams and on-site laboratories. Our two host operating segments consist of Military and Fred Meyer. These brands provide eye exams principally by independent optometrists in nearly all locations. We have aggregated our America’s Best, Eyeglass World, Military, and Fred Meyer operating segments into a single reportable segment due to similar economic characteristics and similarity of the nature of products and services, production processes, class of customers, regulatory environment, and distribution methods of those brands.

•

Legacy - The Company manages the operations of, and supplies inventory and lab processing services to, 227 legacy retail vision centers. Under our legacy agreements, our responsibilities include development of annual operating budgets, providing managers and staff at each location, training personnel, ordering and maintaining merchandise inventory at the locations, providing sales receipts to customers, and owning and maintaining store furniture, fixtures and equipment. We earn management fees as a result of providing such services and therefore we record revenue related to sales of products and product protection plans to our legacy partner’s customers on a net basis. We also sell to our legacy partner wholesale merchandise that is stocked in retail locations, and provide central lab services associated with the manufacture of finished eyeglasses and frames housed in our optical labs expected to be consumed in the production of eyeglasses for our legacy partner’s customers. We lease space from our legacy partner within or adjacent to each of the locations we manage and use this space for providing optometric examination services. During fiscal year 2017, sales associated with our legacy partner arrangement represented 11.2% of consolidated net revenue. This exposes us to concentration of customer risk. Our legacy agreements were renewed on January 13, 2017, and expire on August 23, 2020, subject to extension pursuant to the terms of the agreements. Sales of services and plans in our legacy segment consist of fees earned for managing the operations of our legacy partner and revenues associated with the provision of eye exams. Revenues associated with managing operations of our legacy partner were $36.7 million, $38.3 million and $40.6 million for fiscal years ended 2017, 2016 and 2015, respectively.

The “Corporate/Other” category includes the results of operations of our other operating segments AC Lens, FirstSight and corporate overhead support. The “Reconciliations” category represents other adjustments to reportable segment results necessary for the presentation of consolidated financial results in accordance with U.S. GAAP for the two reportable segments.

The operating segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our CODM to allocate resources and assess performance. Our CODM is our Chief Executive Officer. The Company considers each of our brands to be an operating segment and has further concluded that presenting the results of our reportable segments provides meaningful information consistent with the objectives of ASC 280, Segment Reporting. Strategic initiatives and financial objectives for each reportable segment are determined at the corporate level. Each operating segment is responsible for implementing defined strategic initiatives and achieving certain financial objectives, and has a general manager responsible for the sales and marketing initiatives and financial results for product lines within the segment.

Revenues from the Corporate/Other segments are attributable to the AC Lens and FirstSight operating segments and the Company’s corporate function. AC Lens sells contact lenses and optical accessory products to retail customers through e-commerce. AC Lens also distributes contact lenses to Walmart and Sam’s Club under fee for services arrangements. FirstSight issues individual vision care benefit plans in connection with our America’s Best operations in California, issues individual vision care benefit plans in connection with our America’s Best operations in California, provides or arranges for the provision of optometric services at almost all of the optometric offices next to Walmart and Sam’s Club stores in California and also sells contact lenses to its members in certain locations. None of those segments met the quantitative thresholds for determining reportable segments for any of the periods presented.

Our reportable segment profit measure is earnings before interest, tax, depreciation and amortization (“EBITDA”), excluding asset impairment, debt issuance costs, litigation settlement, and other expense, net. There are no transactions between our reportable segments. There are no differences between the measurement of our reportable segments’ assets and consolidated assets. There have been no changes from prior periods in the measurement methods used to determine reportable segment profit or loss, and there have been no asymmetrical allocations to segments.

The following is a summary of certain financial data for each of our segments. Reportable segment information is presented on the same basis as our consolidated financial statements, except for net revenue, which is presented on a cash basis, excluding the effects of unearned and deferred revenue, consistent with what the CODM regularly reviews. Asset information is not included in the following summary since the CODM does not regularly review such information for the reportable segments. In addition, impairments are treated in the same manner and are not presented in the reportable segment columns. See Note 1. “Business and Significant Accounting Policies” for discussion regarding retail store long-lived assets and Note 3. “Goodwill and Intangible Assets” for discussion regarding goodwill on a reportable segment level.



	Fiscal Year 2017
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	847,866	$	103,887	$	179,718		$	(2,158	)	$	1,129,313
Segment services and plans revenues	190,701		49,955		12,172			(6,833		)	245,995
Total net revenue	1,038,567		153,842		191,890			(8,991		)	1,375,308
Cost of products	248,548		48,275		159,789			(534		)	456,078
Cost of services and plans	153,691		16,624		10,573			—			180,888
Total costs applicable to revenue	402,239		64,899		170,362			(534		)	636,966
SG&A	401,762		52,705		143,457			—			597,924
Asset impairment	—		—		4,117			—			4,117
Debt issuance cost	—		—		4,527			—			4,527
Litigation settlement	—		—		7,000			—			7,000
Other expense, net	—		—		950			—			950
EBITDA	$	234,566	$	36,238	$	(138,523	)	$	(8,457	)	$	123,824
Depreciation and amortization											61,115
Interest expense, net											55,536
Income before income taxes											$	7,173



	Fiscal Year 2016
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	730,741	$	103,618	$	151,083		$	(4,489	)	$	980,953
Segment services and plans revenues	158,667		48,592		17,533			(9,550		)	215,242
Total net revenue	889,408		152,210		168,616			(14,039		)	1,196,195
Cost of products	212,208		48,097		131,257			(1,193		)	390,369
Cost of services and plans	127,904		11,510		14,998			—			154,412
Total costs applicable to revenue	340,112		59,607		146,255			(1,193		)	544,781
SG&A	343,838		52,925		127,475			—			524,238
Asset impairment	—		—		7,132			—			7,132
Other expense, net	—		—		1,667			—			1,667
EBITDA	$	205,458	$	39,678	$	(113,913	)	$	(12,846	)	$	118,377
Depreciation and amortization											51,993
Interest expense, net											39,092
Income before income taxes											$	27,292



	Fiscal Year 2015
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	622,845	$	104,218	$	145,794		$	(2,394	)	$	870,463
Segment services and plans revenues	136,480		50,795		18,468			(13,678		)	192,065
Total net revenue	759,325		155,013		164,262			(16,072		)	1,062,528
Cost of products	180,847		49,701		123,771			(425		)	353,894
Cost of services and plans	111,383		10,759		15,064			—			137,206
Total costs applicable to revenue	292,230		60,460		138,835			(425		)	491,100
SG&A	293,700		52,924		127,429			—			474,053
Asset impairment	—		—		7,716			—			7,716
Debt issuance costs	—		—		2,551			—			2,551
Other expense, net	—		—		913			—			913
EBITDA	$	173,395	$	41,629	$	(113,182	)	$	(15,647	)	$	86,195
Depreciation and amortization											44,069
Interest expense, net											36,741
Income before income taxes											$	5,385

Consolidated Net Product Revenue Information

The following table presents our consolidated net product revenue information:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Net Product Sales
Eyeglasses and sunglasses	$	763,268	$	663,253	$	574,969
Contact lenses	358,808		310,322		288,570
Accessories and other	7,237		7,378		6,924
Total net product revenues	$	1,129,313	$	980,953	$	870,463

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 30, 2017

Equity [Abstract]

Accumulated Other Comprehensive Loss

Cumulative unrealized losses on the Company’s cash flow hedge derivative instruments are recorded in AOCL. The following table presents the change in AOCL, net of tax during the fiscal years 2017, 2016, and 2015, respectively:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Cash flow hedging activity
Balance at beginning of period	$	(14,556	)	$	(11,284	)	$	(7,056	)
Other comprehensive loss before reclassification	(1,051		)	(5,116		)	(7,065		)
Tax effect of other comprehensive loss before reclassification	436			1,844			2,837
Amount reclassified from AOCL	8,664			—			—
Tax effect of amount reclassified from AOCL	(3,361		)	—			—
Net current period other comprehensive income (loss), net of tax	4,688			(3,272		)	(4,228		)
Balance at end of fiscal year	$	(9,868	)	$	(14,556	)	$	(11,284	)

Amounts reclassified from AOCL to earnings are included in interest expense, net in the accompanying consolidated statements of operations.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events None.

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 30, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

The unaudited quarterly financial information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of net income for interim periods. Quarterly results are not necessarily indicative of a full year’s operations because of various factors. The following tables present unaudited quarterly financial information for the periods presented:



	Fiscal Year 2017
In thousands, except EPS	Fourth Quarter Ended December 30, 2017			Third Quarter Ended September 30, 2017		Second Quarter Ended July 1, 2017			First Quarter Ended April 1, 2017
Total net revenue	$	321,819		$	346,089	$	337,541		$	369,859
(Loss) income from operations	$	(2,818	)	$	16,560	$	13,772		$	39,722
Net income (loss)	$	28,700		$	1,546	$	(1,496	)	$	17,070
Weighted-average shares used in computing basic EPS	70,454			56,414		56,414			56,261
Weighted-average shares used in computing diluted EPS	73,256			58,459		56,414			57,934
Basic EPS	$	0.41		$	0.03	$	(0.03	)	$	0.30
Diluted EPS	$	0.39		$	0.03	$	(0.03	)	$	0.29



	Fiscal Year 2016
In thousands, except EPS	Fourth Quarter Ended December 31, 2016			Third Quarter Ended October 1, 2016		Second Quarter Ended July 2, 2016		First Quarter Ended April 2, 2016
Total net revenue	$	277,114		$	301,216	$	291,056	$	326,809
(Loss) income from operations	$	(3,353	)	$	14,315	$	15,737	$	39,685
Net (loss) income	$	(9,709	)	$	3,026	$	3,587	$	17,854
Weighted-average shares used in computing basic EPS	56,210			56,211		56,210		56,107
Weighted-average shares used in computing diluted EPS	56,210			57,170		57,075		56,197
Basic EPS	$	(0.17	)	$	0.05	$	0.06	$	0.32
Diluted EPS	$	(0.17	)	$	0.05	$	0.06	$	0.32

Condensed Financial Information of the Registrant

12 Months Ended

Dec. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant

Schedule I - Condensed Financial Information of Registrant

National Vision Holdings, Inc. and Subsidiaries (Parent Company Only)

Condensed Balance Sheets

In Thousands, Except Par Value



	As of December 30, 2017			As of December 31, 2016
ASSETS
Current assets:
Cash and cash equivalents	$	23		$	12
Total current assets	23			12

Deferred income taxes	304			212
Investment in subsidiary	659,536			401,704
Total non-current assets	659,840			401,916
Total assets	$	659,863		$	401,928

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Other current liabilities	$	46		$	32

Non-current liabilities:
Other non-current liabilities	229			9

Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 74,654 and 56,202 shares issued and outstanding as of December 30, 2017 and December 31, 2016, respectively	746			562
Additional paid-in capital	631,798			424,789
Accumulated other comprehensive loss	(9,868		)	(14,556		)
Retained earnings (accumulated deficit)	37,145			(8,675		)
Treasury stock, at cost; 28 shares as of December 30, 2017 and December 31, 2016	(233		)	(233		)
Total stockholders’ equity	659,588			401,887
Total liabilities and stockholders’ equity	$	659,863		$	401,928

The accompanying notes are an integral part of these condensed financial statements.

Schedule I - Condensed Financial Information of Registrant

National Vision Holdings, Inc. And Subsidiaries (Parent Company Only)

Condensed Statements of Operations and Comprehensive Income (Loss)

In Thousands



	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Total net revenue	$	—		$	—		$	—
Cost applicable to revenue	—			—			—
Operating expenses	218			195			343
Loss before income taxes	(218		)	(195		)	(343		)
Income tax benefit	(85		)	(76		)	(134		)
Loss before equity in net income of subsidiaries	(133		)	(119		)	(209		)
Net income of subsidiaries	45,953			14,877			3,826
Net income	$	45,820		$	14,758		$	3,617

Comprehensive income (loss):
Net income	45,820			14,758			3,617
Change in unrealized gain (loss) on hedge instruments	7,613			(5,116		)	(7,065		)
Tax (provision) benefit of change in unrealized gain (loss) on hedge instruments	(2,925		)	1,844			2,837
Comprehensive income (loss)	$	50,508		$	11,486		$	(611	)

The accompanying notes are an integral part of these condensed financial statements.

Schedule I - Condensed Financial Information of Registrant

National Vision Holdings, Inc. and Subsidiaries (Parent Company Only)

Condensed Statements of Cash Flows

In Thousands



	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Operating Activities
Net cash provided by (used for) operating activities	$	11		$	(564	)	$	(335	)
Investing Activities
Dividend from subsidiary	170,983			167			145,667
Investment in subsidiary	(373,024		)	(884		)	(1,181		)
Net cash (used in) provided by investing activities	(202,041		)	(717		)	144,486
Financing Activities
Proceeds from stock option exercises	1,092			915			1,762
Proceeds from sale of common stock	371,932			—			110
Dividend to stockholders	(170,983		)	—			(145,667		)
Other	—			(387		)	404
Net cash provided by (used in) financing activities	202,041			528			(143,391		)
Net change in cash and cash equivalents	11			(753		)	760
Cash and cash equivalents, beginning of year	12			765			5
Cash and cash equivalents, end of year	$	23		$	12		$	765

The accompanying notes are an integral part of these condensed financial statements.

1. Basis of Presentation

National Vision Holdings, Inc. (“NVHI,” or the “Company”) conducts substantially all of its activities through its indirect wholly owned subsidiary, National Vision, Inc. (“NVI”) and its subsidiaries. NVHI was incorporated in Delaware on February 14, 2014 under the name Nautilus Parent, Inc. There were no financial transactions between the inception date and March 13, 2014, the date the majority ownership of NVI was transferred from private equity funds managed by Berkshire Partners LLC to affiliates of Kohlberg Kravis Roberts & Co. L.P. In the parent-company-only financial statements, NVHI’s investment in subsidiaries is stated at cost, plus equity in undistributed earnings of subsidiaries since the date of acquisition, less dividends. The parent-company-only financial statements should be read in conjunction with the NVHI consolidated financial statements.

2. Guarantees and Restrictions

On February 2, 2017, the Company declared a recapitalization dividend to its stockholders. The dividend was funded with $175.0 million in new term loans under NVI’s first lien credit agreement.

As described in the Initial Public Offering section included in Note 1. “Description of Business and Basis of Presentation,” to the NVHI consolidated financial statements, NVI used proceeds from the NVHI IPO to repay all $125.0 million outstanding aggregate amount of its second lien term loans and approximately $235.0 million of the outstanding amount of its first lien term loans and accrued and unpaid interest thereon. As of December 30, 2017, NVI had $568.6 million of principal amount of long-term debt outstanding under its first lien term loans. Pursuant to the joinder and amendment agreements, as described in Note 4. “Long-term Debt,” to the NVHI consolidated financial statements, the first lien credit agreement also provides for up to $100.0 million in revolving loans (“revolving credit facility”). As of fiscal year end 2017, NVI had no outstanding revolving loan obligations and had $11.2 million in outstanding letters of credit related to the revolving credit facility.

The first lien credit agreement contains covenants that, among other things, limit NVI’s ability to incur additional debt, create liens against our assets, make acquisitions, pay dividends or distributions on our stock, merge or consolidate with another entity, and transfer or sell assets. Under the agreement, provided no event of default has occurred and is continuing, NVI is permitted to pay dividends to NVHI with certain restrictions as stated in the credit agreement.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Business and Significant Accounting Policies (Policies)

12 Months Ended

Dec. 30, 2017

Accounting Policies [Abstract]

Fiscal Year

Basis of Presentation and Principles of Consolidation

Use of Estimates

Property and Equipment

P&E is depreciated for financial accounting purposes using the straight-line method over the following estimated useful lives:



Buildings	34 years
Land improvements^(a)	10 years
Equipment^(b)	5 - 7 years
Information systems hardware and software	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(a)	10 years
P&E under capital leases	Shorter of useful life or lease term
____________
(a) Depreciation of land and leasehold improvements is recognized over the shorter of the estimated useful life of the asset or the term of the lease. The term of the lease includes renewal options for additional periods if the exercise of the renewal is considered to be reasonably assured.
(b) Costs of developing or obtaining software for internal use, such as direct costs of materials or services and internal payroll costs related to the software development projects, are capitalized to equipment.

Goodwill and Intangible Assets

Fair Value Measurement of Assets and Liabilities (Non-Recurring Basis)

Impairment of P&E, Goodwill and Intangible Assets

Impairment of P&E

Impairment of Goodwill and Intangible Assets

Equity Method Investment

Cost Method Investment

Revenue Recognition

Costs Applicable To Revenue

Selling, General and Administrative Expenses

Leases

Stock-Based Compensation

Income Taxes

Cash and Cash Equivalents

Accounts Receivable, Net

Inventories

The Company’s inventory purchasing consists primarily of contact lenses, eyeglass frames, and unprocessed eyeglass lenses. Our inventory is supplied by a small number of key vendors.

Prepaid Expenses and Other Current Assets, Deferred Financing Costs and Loan Discounts, and Other Non-Current Assets

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets include primarily prepaid software maintenance and licensing fees, prepaid rent, prepaid insurance, and income taxes receivable.

Deferred Financing Costs and Loan Discounts

Other Non-Current Assets

Other non-current assets consist primarily of our equity method investment, below market leases, security deposits associated with leased properties, and other long-term prepaid expenses.

Self-Insurance Accruals

Derivative Financial Instruments

Accumulated Other Comprehensive Loss

Recently Issued Accounting Pronouncements

Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2017

Accounting Policies [Abstract]

Schedule of Property and Equipment, Net

P&E is depreciated for financial accounting purposes using the straight-line method over the following estimated useful lives:



Buildings	34 years
Land improvements^(a)	10 years
Equipment^(b)	5 - 7 years
Information systems hardware and software	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(a)	10 years
P&E under capital leases	Shorter of useful life or lease term
____________
(a) Depreciation of land and leasehold improvements is recognized over the shorter of the estimated useful life of the asset or the term of the lease. The term of the lease includes renewal options for additional periods if the exercise of the renewal is considered to be reasonably assured.
(b) Costs of developing or obtaining software for internal use, such as direct costs of materials or services and internal payroll costs related to the software development projects, are capitalized to equipment.



In thousands	As of December 30, 2017			As of December 31, 2016
Accounts receivable, net:
Trade receivables	$	28,862		$	20,817
Credit card receivables	10,459			9,398
Tenant improvement allowances receivable	4,794			3,308
Other receivables	2,936			2,430
Allowance for uncollectible accounts	(3,858		)	(1,583		)
	$	43,193		$	34,370

Inventories:
Raw materials and work in process ⁽¹⁾	$	43,953		$	42,266
Finished goods	47,198			44,798
	$	91,151		$	87,064
(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.

Property and equipment, net:
Land and building	$	3,608		$	3,607
Equipment	220,088			161,714
Furniture and fixtures	42,708			36,046
Leasehold improvements	155,369			121,963
Construction in progress	18,375			28,099
Property under capital leases	11,756			3,244
	451,904			354,673
Less accumulated depreciation	147,772			98,259
	$	304,132		$	256,414

Details of Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable, Net



In thousands	As of December 30, 2017			As of December 31, 2016
Accounts receivable, net:
Trade receivables	$	28,862		$	20,817
Credit card receivables	10,459			9,398
Tenant improvement allowances receivable	4,794			3,308
Other receivables	2,936			2,430
Allowance for uncollectible accounts	(3,858		)	(1,583		)
	$	43,193		$	34,370

Inventories:
Raw materials and work in process ⁽¹⁾	$	43,953		$	42,266
Finished goods	47,198			44,798
	$	91,151		$	87,064
(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.

Property and equipment, net:
Land and building	$	3,608		$	3,607
Equipment	220,088			161,714
Furniture and fixtures	42,708			36,046
Leasehold improvements	155,369			121,963
Construction in progress	18,375			28,099
Property under capital leases	11,756			3,244
	451,904			354,673
Less accumulated depreciation	147,772			98,259
	$	304,132		$	256,414

Schedule of Inventories



In thousands	As of December 30, 2017			As of December 31, 2016
Accounts receivable, net:
Trade receivables	$	28,862		$	20,817
Credit card receivables	10,459			9,398
Tenant improvement allowances receivable	4,794			3,308
Other receivables	2,936			2,430
Allowance for uncollectible accounts	(3,858		)	(1,583		)
	$	43,193		$	34,370

Inventories:
Raw materials and work in process ⁽¹⁾	$	43,953		$	42,266
Finished goods	47,198			44,798
	$	91,151		$	87,064
(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.

Property and equipment, net:
Land and building	$	3,608		$	3,607
Equipment	220,088			161,714
Furniture and fixtures	42,708			36,046
Leasehold improvements	155,369			121,963
Construction in progress	18,375			28,099
Property under capital leases	11,756			3,244
	451,904			354,673
Less accumulated depreciation	147,772			98,259
	$	304,132		$	256,414

Schedule of Property and Equipment, Net

P&E is depreciated for financial accounting purposes using the straight-line method over the following estimated useful lives:



Buildings	34 years
Land improvements^(a)	10 years
Equipment^(b)	5 - 7 years
Information systems hardware and software	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(a)	10 years
P&E under capital leases	Shorter of useful life or lease term
____________
(a) Depreciation of land and leasehold improvements is recognized over the shorter of the estimated useful life of the asset or the term of the lease. The term of the lease includes renewal options for additional periods if the exercise of the renewal is considered to be reasonably assured.
(b) Costs of developing or obtaining software for internal use, such as direct costs of materials or services and internal payroll costs related to the software development projects, are capitalized to equipment.



In thousands	As of December 30, 2017			As of December 31, 2016
Accounts receivable, net:
Trade receivables	$	28,862		$	20,817
Credit card receivables	10,459			9,398
Tenant improvement allowances receivable	4,794			3,308
Other receivables	2,936			2,430
Allowance for uncollectible accounts	(3,858		)	(1,583		)
	$	43,193		$	34,370

Inventories:
Raw materials and work in process ⁽¹⁾	$	43,953		$	42,266
Finished goods	47,198			44,798
	$	91,151		$	87,064
(1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.

Property and equipment, net:
Land and building	$	3,608		$	3,607
Equipment	220,088			161,714
Furniture and fixtures	42,708			36,046
Leasehold improvements	155,369			121,963
Construction in progress	18,375			28,099
Property under capital leases	11,756			3,244
	451,904			354,673
Less accumulated depreciation	147,772			98,259
	$	304,132		$	256,414

Schedule of Other Payables and Accrued Expenses



In thousands	As of December 30, 2017		As of December 31, 2016
Other payables and accrued expenses:
Employee compensation and benefits	$	21,134	$	19,009
Self-insurance reserves	6,854		7,209
Capital expenditures	10,782		9,202
Advertising	2,900		1,058
Reserves for customer returns and remakes	4,565		4,611
Legacy management and services agreement	6,000		4,591
Fair value of derivative liabilities	6,969		8,218
Rental expenses	1,140		2,172
Sales and use taxes	1,218		954
Amounts payable to charitable organizations	1,000		1,000
Supplies and other store support expenses	3,014		3,489
Litigation settlements	3,942		422
Other	8,093		7,467
	$	77,611	$	69,402

Other non-current liabilities:
Fair value of derivative liabilities	$	9,155	$	15,518
Tenant improvements ⁽²⁾	22,894		21,089
Deferred rental expenses	7,246		6,256
Other	6,749		7,634
	$	46,044	$	50,497
(2) Obligations for tenant improvements are amortized as a reduction of rental expense over the life of the respective leases.

Schedule of Other Noncurrent Liabilities



In thousands	As of December 30, 2017		As of December 31, 2016
Other payables and accrued expenses:
Employee compensation and benefits	$	21,134	$	19,009
Self-insurance reserves	6,854		7,209
Capital expenditures	10,782		9,202
Advertising	2,900		1,058
Reserves for customer returns and remakes	4,565		4,611
Legacy management and services agreement	6,000		4,591
Fair value of derivative liabilities	6,969		8,218
Rental expenses	1,140		2,172
Sales and use taxes	1,218		954
Amounts payable to charitable organizations	1,000		1,000
Supplies and other store support expenses	3,014		3,489
Litigation settlements	3,942		422
Other	8,093		7,467
	$	77,611	$	69,402

Other non-current liabilities:
Fair value of derivative liabilities	$	9,155	$	15,518
Tenant improvements ⁽²⁾	22,894		21,089
Deferred rental expenses	7,246		6,256
Other	6,749		7,634
	$	46,044	$	50,497
(2) Obligations for tenant improvements are amortized as a reduction of rental expense over the life of the respective leases.

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the changes in the carrying amount of our goodwill during fiscal year 2015, fiscal year 2016, and fiscal year 2017:



Balance as of January 2, 2016	In thousands
Goodwill	$	805,562
Accumulated impairment losses	(8,989		)
Subtotal	796,573
Balance as of December 31, 2016
Goodwill	805,562
Accumulated impairment losses	(12,333		)
Subtotal	793,229
Balance as of December 30, 2017
Goodwill	805,562
Other	(485		)
Total gross goodwill	805,077
Accumulated impairment losses	(12,333		)
Subtotal	$	792,744

Goodwill in our reportable segments (see Note 14. “Segment Reporting”) as of the fiscal year end 2017 is as follows:



In thousands	Owned & Host Segment			Legacy Segment		Corporate/Other			Total
Gross goodwill	$	736,901		$	60,069	$	8,107		$	805,077
Accumulated impairment	(4,226		)	—		(8,107		)	(12,333		)
Goodwill as of December 30, 2017	$	732,675		$	60,069	$	—		$	792,744

Schedule of Indefinite-Lived Intangible Assets

Indefinite-lived, non-amortizing intangible assets by major asset class are as follows:



In thousands	As of December 30, 2017		As of December 31, 2016
Trademarks and tradenames:
America's Best Contacts and Eyeglasses	$	200,547	$	200,547
Eyeglass World	40,000		40,000
	$	240,547	$	240,547

Schedule of Definite-Lived Intangible Assets

Definite-lived, amortizing intangible assets by major asset class are as follows:



	As of December 30, 2017					As of December 31, 2016
In thousands	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)
Contracts and relationships:
Legacy	$	65,000	$	22,470	7	$	65,000	$	16,582	8
Fred Meyer	35,000		5,787		19	35,000		4,271		20
Customer database	4,400		3,347		1	4,400		2,470		2
Other	738		631		1	738		477		1 - 2
	$	105,138	$	32,235		$	105,138	$	23,800

Schedule of Aggregate Future Estimated Amortization Expense



Fiscal Year	In thousands
2018	$	8,371
2019	7,598
2020	7,547
2021	7,405
2022	7,405
Thereafter	34,577
	$	72,903

Long-term Debt (Tables)

12 Months Ended

Dec. 30, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consists of the following:



In thousands	As of December 30, 2017			As of December 31, 2016
First lien term loans, due November 20, 2024	$	568,575		$	633,598
Second lien term loans	—			125,000
Term loans before unamortized discount	568,575			758,598
Unamortized discount	(11,322		)	(15,661		)
Total term loans	557,253			742,937
Less current maturities	(5,700		)	(6,515		)
Term loans - non-current portion	551,553			736,422
Capitalized lease obligations	11,985			2,688
Less current maturities	(1,558		)	(770		)
Long-term debt, less current portion and unamortized debt discount	$	561,980		$	738,340

Schedule of Annual Maturities of Debt

Scheduled annual maturities of debt are as follows:



Fiscal Year	In thousands
2018	$	5,700
2019	5,700
2020	5,700
2021	5,700
2022	5,700
Thereafter	540,075
	$	568,575

Schedule of Future Minimum Lease Payments for Capital Leases

Future minimum lease payments required under our capital leases as of fiscal year end 2017 are as follows:



	Fiscal Year	In thousands
	2018	$	2,760
	2019	2,297
	2020	1,993
	2021	1,876
	2022	1,791
	Thereafter	7,461
Total minimum lease payments		18,178
Less: Amount representing interest		(6,193		)
Present value of net minimum lease payments		11,985
Less: Current maturities of capital lease obligations		(1,558		)
Capital lease obligations - non-current portion		$	10,427

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: 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.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Stock Incentive Plans (Tables)

12 Months Ended

Dec. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Option Activity

The following table summarizes service-based stock option activity during the fiscal years ended 2017, 2016 and 2015 (amounts reflect the effects of modifications to exercise prices resulting from the recapitalization dividend discussed in Note 8. “Related Party Transactions”):



	Number of Options Outstanding		Weighted Average Exercise Price ($)	Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding options at January 3, 2015	3,423,962		9.83
Granted	362,688		8.20
Exercised	(211,891	)	8.22
Forfeited	(41,354	)	8.22
Outstanding options at January 2, 2016	3,533,405		7.45
Granted	264,460		13.80
Exercised	(142,402	)	7.31
Repurchased	(22,333	)	7.41
Forfeited	(104,605	)	7.24
Outstanding options at December 31, 2016	3,528,525		7.94
Granted	505,958		15.34
Exercised	(211,568	)	5.16
Outstanding options at December 30, 2017	3,822,915		7.22	6.96	$	127,641

Vested and exercisable at December 30, 2017	1,631,023		6.75	6.42	$	55,229

The following presents a roll-forward of performance-based options:



Outstanding options at January 3, 2015	5,135,945
Granted	544,032
Forfeited	(62,032	)
Outstanding options at January 2, 2016	5,617,945
Granted	396,690
Forfeited	(249,479	)
Outstanding options at December 31, 2016	5,765,156
Granted	758,996
Forfeited	—
Outstanding options at December 30, 2017	6,524,152

Schedule of Valuation Assumptions for Stock Option Grants

The fair value of service-based stock option grants was estimated at the grant date using the Black-Scholes-Merton option pricing model. The following assumptions were used in our estimate:



	Fiscal Year 2017		Fiscal Year 2016
Expected term	6.5 years		6.5 years
Expected volatility	60.4	%	60.4	%
Risk-free interest rate	2.0	%	1.6% to 2.0%
Dividend yield	—	%	—	%

Schedule of Stock Incentive Plan Options Outstanding

The following table summarizes information about the 2014 Stock Incentive Plan service-based options outstanding as of fiscal year end 2017:



Grants During:	Weighted Average Grant Date Fair Value		Options Granted	Aggregate Grant Date Fair Value (In Thousands)		Remaining Unrecognized Service Cost (In Thousands)		Remaining Requisite Service Period (Years)	Non-Vested Options Outstanding	Fair Value Of Options Vested (In Thousands)
Fiscal Year 2015	$	5.63	362,688	$	2,043	$	386	2.70	187,796	$	894
Fiscal Year 2016	$	8.58	264,460	$	2,270	$	1,125	3.81	211,568	$	454
Fiscal Year 2017	$	9.01	505,958	$	4,559	$	3,579	4.53	505,958	$	—

Income Taxes (Tables)

12 Months Ended

Dec. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Benefit) Provision

The income tax (benefit) provision consists of:



In thousands	Fiscal Year 2017			Fiscal Year 2016		Fiscal Year 2015
Current income tax:
Federal	$	5		$	51	$	38
State	1,082			1,302		202
Deferred income tax:
Federal	(40,044		)	10,058		1,360
State	310			1,123		168
Income tax (benefit) provision	$	(38,647	)	$	12,534	$	1,768

Schedule of Effective Income Tax Rate Reconciliation

Our income tax (benefit) provision differs from the amounts computed by multiplying earnings before income taxes by the statutory federal income tax rate as shown in the following table:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Federal income tax provision at statutory rate of 35%	$	2,511		$	9,552		$	1,885
State income tax provision, net of federal income tax	273			1,058			211
Increase (decrease) in deferred tax asset valuation allowance	769			979			(497		)
Benefit of tax legislation	(42,965		)	—			—
Other, net	765			945			169
Net income tax (benefit) provision	$	(38,647	)	$	12,534		$	1,768
Effective income tax rate	(538.8		)%	45.9		%	32.8		%

Schedule of Deferred Tax Assets and Liabilities



In thousands	As of December 30, 2017			As of December 31, 2016
Deferred tax assets:
NOL carry-forwards	$	6,278		$	3,195
AMT payment and employment credits	3,741			2,721
Deferred revenue	7,643			10,751
Accrued expenses and reserves	12,934			15,193
Loss on equity and cost method investments	1,175			1,000
Stock option compensation	6,606			6,489
Unrealized losses on hedging instruments	4,130			9,180
Other	4,222			5,171
Subtotal	46,729			53,700
Valuation allowances	1,296			1,131
Total net deferred tax assets	45,433			52,569
Deferred tax liabilities:
Depreciation of property and equipment	(38,355		)	(41,872		)
Amortization of intangible assets	(78,329		)	(120,346		)
Other	(2,397		)	(1,629		)
Total deferred tax liabilities	(119,081		)	(163,847		)
Net deferred tax liabilities	$	(73,648	)	$	(111,278	)

Interest Rate Derivatives (Tables)

12 Months Ended

Dec. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Cash Flow Hedge Derivative Contracts

Our cash flow hedge position related to interest rate derivative contracts is as follows:



In thousands	Notional Amount		Final Maturity Date	Other Payables and Accrued Expenses		Other Liabilities		AOCL, Net of Tax
As of December 31, 2016	$	500,000	March 2021	$	8,218	$	15,518	$	14,556
As of December 30, 2017	$	500,000	March 2021	$	6,969	$	9,155	$	9,868

Related Party Transactions (Tables)

12 Months Ended

Dec. 30, 2017

Under certain agreements we have entered into with our equity sponsors, we recorded the following expenses:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
KKR Sponsor	$	7,259	$	851	$	3,533
Berkshire	$	955	$	199	$	194

Transactions with our non-consolidated affiliate included in our consolidated statements of operations and balance sheets were as follows:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Statements of operations
Licensing fees (SG&A)	$	955	$	987	$	1,061

	As of December 30, 2017		As of December 31, 2016
Balance sheets
Prepaid expenses and other current assets	$	172	$	172
Other assets ⁽¹⁾	$	1,518	$	—

____________


(1)	Other assets include loan receivable and accrued interest receivable of $1.5 million and $18.0 thousand, respectively as of December 30, 2017.

Equity in Net Assets of Non-Consolidated Affiliates (Tables)

12 Months Ended

Dec. 30, 2017

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Financial Information and Transactions with Equity Method Affiliate

Summarized balance sheet information for our affiliate is as follows:



In thousands	As of December 30, 2017			As of December 31, 2016
Current assets	$	2,407		$	1,610
Non-current assets	557			718
Total assets	2,964			2,328

Current liabilities	1,046			1,018
Non-current liabilities	3,000			—
Total liabilities	4,046			1,018

Net assets	$	(1,082	)	$	1,310

Summarized income statement information for our affiliate is as follows:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Revenues	$	6,244		$	5,847		$	1,910
Net loss	$	(3,433	)	$	(4,153	)	$	(3,233	)
National Vision’s share of net loss	$	(1,001	)	$	(1,370	)	$	(896	)

Schedule of Transactions with Affiliate

Under certain agreements we have entered into with our equity sponsors, we recorded the following expenses:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
KKR Sponsor	$	7,259	$	851	$	3,533
Berkshire	$	955	$	199	$	194

Transactions with our non-consolidated affiliate included in our consolidated statements of operations and balance sheets were as follows:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Statements of operations
Licensing fees (SG&A)	$	955	$	987	$	1,061

	As of December 30, 2017		As of December 31, 2016
Balance sheets
Prepaid expenses and other current assets	$	172	$	172
Other assets ⁽¹⁾	$	1,518	$	—

____________


(1)	Other assets include loan receivable and accrued interest receivable of $1.5 million and $18.0 thousand, respectively as of December 30, 2017.

Deferred Revenue (Tables)

12 Months Ended

Dec. 30, 2017

Revenue Recognition and Deferred Revenue [Abstract]

Schedule of Roll-Forward of Deferred Revenue

The following depicts a roll-forward of deferred revenue:



	Fiscal Year 2017
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	23,855		$	63,478		$	95		$	87,428
Sold	54,028			46,443			7,926			108,397
Revenue recognized	(51,152		)	(42,491		)	(7,967		)	(101,610		)
End of year	$	26,731		$	67,430		$	54		$	94,215

Current	$	26,312		$	36,627		$	54		$	62,993
Non-current	419			30,803			—			31,222
	$	26,731		$	67,430		$	54		$	94,215

	Fiscal Year 2016
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	20,972		$	56,802		$	104		$	77,878
Sold	48,021			43,767			10,915			102,703
Revenue recognized	(45,138		)	(37,091		)	(10,924		)	(93,153		)
End of year	$	23,855		$	63,478		$	95		$	87,428

Current	$	23,437		$	34,464		$	95		$	57,996
Non-current	418			29,014			—			29,432
	$	23,855		$	63,478		$	95		$	87,428

Schedule of Expected Period of Recognition of Deferred Revenue in Future Operating Results

Deferred revenue recorded as of fiscal year end 2017 is expected to be reflected in future operating results as follows:



Fiscal Year	In thousands
2018	$	62,993
2019	23,021
2020	7,766
2021	329
2022	106
	$	94,215

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

As of fiscal year end 2017, aggregate future minimum rental payments under our operating leases are as follows:



Fiscal Year	In thousands
2018	$	81,939
2019	73,745
2020	60,843
2021	46,574
2022	34,782
Thereafter	86,151
	$	384,034

Schedule of Product Warranty Liability

The following details the activity in our product warranty liability accounts:



In thousands	Fiscal Year 2017			Fiscal Year 2016
Beginning of year balance	$	1,343		$	1,077
Accrued obligation	26,806			23,857
Claims paid	(26,556		)	(23,591		)
End of year balance	$	1,593		$	1,343

Earnings Per Share (Tables)

12 Months Ended

Dec. 30, 2017

Earnings Per Share [Abstract]

Schedule of Reconciliation of Basic and Diluted EPS Calculations

A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows:



In thousands, except EPS	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Net income	$	45,820	$	14,758	$	3,617
Weighted average shares outstanding for basic EPS	59,895		56,185		55,962
Effect of dilutive securities:
Stock options	2,140		817		—
Weighted average shares outstanding for diluted EPS	62,035		57,001		55,962
Basic EPS	$	0.77	$	0.26	$	0.06
Diluted EPS	$	0.74	$	0.26	$	0.06
Anti-dilutive options outstanding excluded from EPS	254		88		887

Segment Reporting (Tables)

12 Months Ended

Dec. 30, 2017

Segment Reporting [Abstract]

Schedule of Financial Data by Segment



	Fiscal Year 2017
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	847,866	$	103,887	$	179,718		$	(2,158	)	$	1,129,313
Segment services and plans revenues	190,701		49,955		12,172			(6,833		)	245,995
Total net revenue	1,038,567		153,842		191,890			(8,991		)	1,375,308
Cost of products	248,548		48,275		159,789			(534		)	456,078
Cost of services and plans	153,691		16,624		10,573			—			180,888
Total costs applicable to revenue	402,239		64,899		170,362			(534		)	636,966
SG&A	401,762		52,705		143,457			—			597,924
Asset impairment	—		—		4,117			—			4,117
Debt issuance cost	—		—		4,527			—			4,527
Litigation settlement	—		—		7,000			—			7,000
Other expense, net	—		—		950			—			950
EBITDA	$	234,566	$	36,238	$	(138,523	)	$	(8,457	)	$	123,824
Depreciation and amortization											61,115
Interest expense, net											55,536
Income before income taxes											$	7,173



	Fiscal Year 2016
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	730,741	$	103,618	$	151,083		$	(4,489	)	$	980,953
Segment services and plans revenues	158,667		48,592		17,533			(9,550		)	215,242
Total net revenue	889,408		152,210		168,616			(14,039		)	1,196,195
Cost of products	212,208		48,097		131,257			(1,193		)	390,369
Cost of services and plans	127,904		11,510		14,998			—			154,412
Total costs applicable to revenue	340,112		59,607		146,255			(1,193		)	544,781
SG&A	343,838		52,925		127,475			—			524,238
Asset impairment	—		—		7,132			—			7,132
Other expense, net	—		—		1,667			—			1,667
EBITDA	$	205,458	$	39,678	$	(113,913	)	$	(12,846	)	$	118,377
Depreciation and amortization											51,993
Interest expense, net											39,092
Income before income taxes											$	27,292



	Fiscal Year 2015
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	622,845	$	104,218	$	145,794		$	(2,394	)	$	870,463
Segment services and plans revenues	136,480		50,795		18,468			(13,678		)	192,065
Total net revenue	759,325		155,013		164,262			(16,072		)	1,062,528
Cost of products	180,847		49,701		123,771			(425		)	353,894
Cost of services and plans	111,383		10,759		15,064			—			137,206
Total costs applicable to revenue	292,230		60,460		138,835			(425		)	491,100
SG&A	293,700		52,924		127,429			—			474,053
Asset impairment	—		—		7,716			—			7,716
Debt issuance costs	—		—		2,551			—			2,551
Other expense, net	—		—		913			—			913
EBITDA	$	173,395	$	41,629	$	(113,182	)	$	(15,647	)	$	86,195
Depreciation and amortization											44,069
Interest expense, net											36,741
Income before income taxes											$	5,385

Schedule of Net Product Revenue

The following table presents our consolidated net product revenue information:



In thousands	Fiscal Year 2017		Fiscal Year 2016		Fiscal Year 2015
Net Product Sales
Eyeglasses and sunglasses	$	763,268	$	663,253	$	574,969
Contact lenses	358,808		310,322		288,570
Accessories and other	7,237		7,378		6,924
Total net product revenues	$	1,129,313	$	980,953	$	870,463

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 30, 2017

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table presents the change in AOCL, net of tax during the fiscal years 2017, 2016, and 2015, respectively:



In thousands	Fiscal Year 2017			Fiscal Year 2016			Fiscal Year 2015
Cash flow hedging activity
Balance at beginning of period	$	(14,556	)	$	(11,284	)	$	(7,056	)
Other comprehensive loss before reclassification	(1,051		)	(5,116		)	(7,065		)
Tax effect of other comprehensive loss before reclassification	436			1,844			2,837
Amount reclassified from AOCL	8,664			—			—
Tax effect of amount reclassified from AOCL	(3,361		)	—			—
Net current period other comprehensive income (loss), net of tax	4,688			(3,272		)	(4,228		)
Balance at end of fiscal year	$	(9,868	)	$	(14,556	)	$	(11,284	)

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 30, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following tables present unaudited quarterly financial information for the periods presented:



	Fiscal Year 2017
In thousands, except EPS	Fourth Quarter Ended December 30, 2017			Third Quarter Ended September 30, 2017		Second Quarter Ended July 1, 2017			First Quarter Ended April 1, 2017
Total net revenue	$	321,819		$	346,089	$	337,541		$	369,859
(Loss) income from operations	$	(2,818	)	$	16,560	$	13,772		$	39,722
Net income (loss)	$	28,700		$	1,546	$	(1,496	)	$	17,070
Weighted-average shares used in computing basic EPS	70,454			56,414		56,414			56,261
Weighted-average shares used in computing diluted EPS	73,256			58,459		56,414			57,934
Basic EPS	$	0.41		$	0.03	$	(0.03	)	$	0.30
Diluted EPS	$	0.39		$	0.03	$	(0.03	)	$	0.29



	Fiscal Year 2016
In thousands, except EPS	Fourth Quarter Ended December 31, 2016			Third Quarter Ended October 1, 2016		Second Quarter Ended July 2, 2016		First Quarter Ended April 2, 2016
Total net revenue	$	277,114		$	301,216	$	291,056	$	326,809
(Loss) income from operations	$	(3,353	)	$	14,315	$	15,737	$	39,685
Net (loss) income	$	(9,709	)	$	3,026	$	3,587	$	17,854
Weighted-average shares used in computing basic EPS	56,210			56,211		56,210		56,107
Weighted-average shares used in computing diluted EPS	56,210			57,170		57,075		56,197
Basic EPS	$	(0.17	)	$	0.05	$	0.06	$	0.32
Diluted EPS	$	(0.17	)	$	0.05	$	0.06	$	0.32

Business and Significant Accounting Policies - Nature of Operations (Details)	12 Months Ended
	Dec. 30, 2017 office store store_brand	Dec. 31, 2016 store
Accounting Policies [Abstract]
Number of retail optical locations \| store	1,013	943
Number of store brands \| store_brand	5
Number of optometric offices operated by subsidiary	124
Number of optometric offices operated by subsidiary, subleased from Company	20
Number of optometric offices operated by subsidiary, leased from third-party	104

Business and Significant Accounting Policies - Initial Public Offering (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Oct. 30, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Class of Stock [Line Items]
Repayments of long-term debt		$ 367,660	$ 6,515	$ 6,136
Extinguishment of debt	$ 353,300
Transaction-related costs expected during fourth quarter	4,800
Component of proceeds from initial public offering to be used for general corporate purposes	11,000
KKR
Class of Stock [Line Items]
Termination fees to related party	$ 3,600	7,259	851	3,533
Ownership percentage in Company retained by equity sponsor	58.20%
Berkshire
Class of Stock [Line Items]
Termination fees to related party	$ 800	$ 955	$ 199	$ 194
Ownership percentage in Company retained by equity sponsor	13.60%
Term Loan \| First Lien Term Loans
Class of Stock [Line Items]
Repayments of long-term debt	$ 235,000
Term Loan \| Second Lien Term Loans
Class of Stock [Line Items]
Repayments of long-term debt	$ 125,000
IPO
Class of Stock [Line Items]
Shares issued in initial public offering (shares)	18,170,000
Shares issued, offering price (in usd per share)	$ 22
Net proceeds from initial public offering	$ 375,800
Underwriting discounts and commissions	24,000
IPO \| KKR
Class of Stock [Line Items]
Underwriting discounts and commissions	$ 700
Underwriter Option
Class of Stock [Line Items]
Shares issued in initial public offering (shares)	2,370,000

Business and Significant Accounting Policies - Certificate of Incorporation and Bylaws, and Stock Split (Details)	Oct. 24, 2017	Dec. 30, 2017 shares	Oct. 30, 2017 $ / shares shares	Dec. 31, 2016 shares
Accounting Policies [Abstract]
Common stock, shares authorized		200,000,000	200,000,000	200,000,000
Preferred stock, shares authorized			50,000,000
Preferred stock, par value (usd per share) \| $ / shares			$ 0.01
Stock split conversion ratio	1.96627

Business and Significant Accounting Policies - Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Accounting Policies [Abstract]
Impairment of capitalized software costs	$ 1.5	$ 0.0	$ 0.5
Minimum
Intangible Assets
Definite-lived intangible assets, estimated useful life (in years)	4 years
Maximum
Intangible Assets
Definite-lived intangible assets, estimated useful life (in years)	23 years
Long-lived tangible store assets held-for-use
Property and Equipment
Impairment of long-lived assets held-for-use	$ 1.6	$ 1.2	$ 2.4
Buildings
Property and Equipment
Estimated useful life (in years)	34 years
Land improvements
Property and Equipment
Estimated useful life (in years)	10 years
Equipment \| Minimum
Property and Equipment
Estimated useful life (in years)	5 years
Equipment \| Maximum
Property and Equipment
Estimated useful life (in years)	7 years
Information systems hardware and software \| Minimum
Property and Equipment
Estimated useful life (in years)	2 years
Information systems hardware and software \| Maximum
Property and Equipment
Estimated useful life (in years)	7 years
Furniture and fixtures
Property and Equipment
Estimated useful life (in years)	6 years
Leasehold improvements
Property and Equipment
Estimated useful life (in years)	10 years

Business and Significant Accounting Policies - Cost Method Investment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cost method investment, original cost		$ 1.0
Impairment of cost method investment	$ 1.0

Business and Significant Accounting Policies - Accounts Receivable, Net and Inventories (Details)	12 Months Ended
	Dec. 30, 2017
Credit Concentration Risk \| Accounts Receivable \| Managed Care Programs
Concentration Risk [Line Items]
Concentration risk (percent)	47.00%
Supplier Concentration Risk \| Contact Lenses \| Three Key Vendors
Concentration Risk [Line Items]
Concentration risk (percent)	94.00%
Supplier Concentration Risk \| Frames \| Four Key Vendors
Concentration Risk [Line Items]
Concentration risk (percent)	56.00%
Supplier Concentration Risk \| Lenses \| Two Key Vendors
Concentration Risk [Line Items]
Concentration risk (percent)	91.00%

Business and Significant Accounting Policies - Correction of an Error (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of products									$ 456,078	$ 390,369	$ 353,894
Net income	$ 28,700	$ 1,546	$ (1,496)	$ 17,070	$ (9,709)	$ 3,026	$ 3,587	$ 17,854	$ 45,820	$ 14,758	$ 3,617
Inventory Valuation \| Restatement Correction
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of products			2,100
Net income			$ (1,300)

Business and Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 30, 2017 USD ($) pair	Dec. 31, 2016 USD ($)	Jan. 02, 2016 USD ($)
Accounting Policies [Abstract]
Number of pairs of glasses in lead offer \| pair	2
HMO membership	12 months
Membership program as percent of total revenue (percent)	3.00%
Advertising expenses	$ 93,200	$ 85,400	$ 77,000
Reinsurance retention level per claim	300
Reinsurance retention level per individual	200
Estimated insurance recoveries, current	600	400
Estimated insurance recoveries, non-current	1,000	700
Self-insurance reserves, current	6,854	7,209
Self-insurance reserves, non-current	$ 4,600	$ 3,900
Minimum
Revenue Recognition [Line Items]
Delivery time used in period end unearned revenue calculation	4 days
Extended warranty plan	1 year
Eye-care club membership	3 years
Maximum
Revenue Recognition [Line Items]
Delivery time used in period end unearned revenue calculation	10 days
Extended warranty plan	2 years
Eye-care club membership	5 years

Details of Certain Balance Sheet Accounts - Assets (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Accounts receivable, net:
Allowance for uncollectible accounts	$ (3,858)	$ (1,583)
Accounts receivable, net of allowances	43,193	34,370
Inventories:
Raw materials and work in process	43,953	42,266
Finished goods	47,198	44,798
Inventories	91,151	87,064
Property and equipment, net:
Property and equipment, gross	451,904	354,673
Less accumulated depreciation	147,772	98,259
Property and equipment, net	304,132	256,414
Trade receivables
Accounts receivable, net:
Accounts receivable, gross	28,862	20,817
Credit card receivables
Accounts receivable, net:
Accounts receivable, gross	10,459	9,398
Tenant improvement allowances receivable
Accounts receivable, net:
Accounts receivable, gross	4,794	3,308
Other receivables
Accounts receivable, net:
Accounts receivable, gross	2,936	2,430
Land and building
Property and equipment, net:
Property and equipment, gross	3,608	3,607
Equipment
Property and equipment, net:
Property and equipment, gross	220,088	161,714
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	42,708	36,046
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	155,369	121,963
Construction in progress
Property and equipment, net:
Property and equipment, gross	18,375	28,099
Property under capital leases
Property and equipment, net:
Property and equipment, gross	$ 11,756	$ 3,244

Details of Certain Balance Sheet Accounts - Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Other payables and accrued expenses:
Employee compensation and benefits	$ 21,134	$ 19,009
Self-insurance reserves	6,854	7,209
Capital expenditures	10,782	9,202
Advertising	2,900	1,058
Reserves for customer returns and remakes	4,565	4,611
Legacy management and services agreement	6,000	4,591
Fair value of derivative liabilities	6,969	8,218
Rental expenses	1,140	2,172
Sales and use taxes	1,218	954
Amounts payable to charitable organizations	1,000	1,000
Supplies and other store support expenses	3,014	3,489
Litigation settlements	3,942	422
Other	8,093	7,467
Total other payables and accrued expenses	77,611	69,402
Other non-current liabilities:
Fair value of derivative liabilities	9,155	15,518
Tenant improvements	22,894	21,089
Deferred rental expenses	7,246	6,256
Other	6,749	7,634
Total other non-current liabilities	$ 46,044	$ 50,497

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Goodwill [Line Items]
Goodwill impairment	$ 0
Percentage of fair value in excess of carrying amount	75.00%
Goodwill	$ 792,744,000	$ 793,229,000	$ 796,573,000
Impairment of indefinite-lived intangible assets	0
Impairment of definite-lived intangible assets	0
Definite-lived intangible assets	72,903,000
Property and equipment, net	$ 304,132,000	256,414,000
Fred Meyer
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount	5.00%
Reporting unit's percentage of total consolidated goodwill (less than)	5.00%
AC Lens
Goodwill [Line Items]
Goodwill impairment		3,300,000	$ 4,800,000
Goodwill		0
Impairment of definite-lived intangible assets		1,300,000
Impairment of property and equipment		1,200,000
Definite-lived intangible assets		0
Property and equipment, net		$ 300,000

Goodwill and Intangible Assets - Goodwill Carrying Amount (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Goodwill [Line Items]
Goodwill, gross	$ 805,562	$ 805,077	$ 805,562	$ 805,562
Accumulated impairment losses		(12,333)	(12,333)	(8,989)
Goodwill		792,744	$ 793,229	$ 796,573
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	805,562
Other	(485)
Goodwill, gross, ending balance	805,077
Owned & Host
Goodwill [Line Items]
Goodwill, gross	736,901	736,901
Accumulated impairment losses		(4,226)
Goodwill		732,675
Goodwill [Roll Forward]
Goodwill, gross, ending balance	736,901
Legacy
Goodwill [Line Items]
Goodwill, gross	60,069	60,069
Accumulated impairment losses		0
Goodwill		60,069
Goodwill [Roll Forward]
Goodwill, gross, ending balance	60,069
Corporate/Other
Goodwill [Line Items]
Goodwill, gross	8,107	8,107
Accumulated impairment losses		(8,107)
Goodwill		$ 0
Goodwill [Roll Forward]
Goodwill, gross, ending balance	$ 8,107

Goodwill and Intangible Assets - Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 240,547	$ 240,547
Trademarks and tradenames - America's Best Contacts and Eyeglasses
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	200,547	200,547
Trademarks and tradenames - Eyeglass World
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 40,000	$ 40,000

Goodwill and Intangible Assets - Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 105,138	$ 105,138
Accumulated Amortization	32,235	23,800
Contracts and relationships - Legacy
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	65,000	65,000
Accumulated Amortization	$ 22,470	$ 16,582
Remaining Life (Years)	7 years	8 years
Contracts and relationships - Fred Meyer
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 35,000	$ 35,000
Accumulated Amortization	$ 5,787	$ 4,271
Remaining Life (Years)	19 years	20 years
Customer database
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,400	$ 4,400
Accumulated Amortization	$ 3,347	$ 2,470
Remaining Life (Years)	1 year	2 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 738	$ 738
Accumulated Amortization	$ 631	$ 477
Remaining Life (Years)	1 year
Minimum \| Other
Finite-Lived Intangible Assets [Line Items]
Remaining Life (Years)		1 year
Maximum \| Other
Finite-Lived Intangible Assets [Line Items]
Remaining Life (Years)		2 years

Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) $ in Thousands	Dec. 30, 2017 USD ($)
Definite-Lived Intangible Assets, Estimated Future Amortization Expense
2018	$ 8,371
2019	7,598
2020	7,547
2021	7,405
2022	7,405
Thereafter	34,577
Intangible assets	$ 72,903

Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 568,575
Capitalized lease obligations	11,985	$ 2,688
Less current maturities	(1,558)	(770)
Long-term debt, less current portion and unamortized debt discount	561,980	738,340
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	568,575	758,598
Unamortized discount	(11,322)	(15,661)
Total term loans	557,253	742,937
Less current maturities	(5,700)	(6,515)
Term loans - non-current portion	551,553	736,422
Term Loan \| First lien term loans, due November 20, 2024
Debt Instrument [Line Items]
Long-term debt, gross		633,598
Term Loan \| Second lien term loans
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 125,000

Long-term Debt - Narrative (Details)			12 Months Ended
Long-term Debt - Narrative (Details)	Nov. 20, 2017 USD ($)	Oct. 30, 2017 USD ($)	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jan. 02, 2016 USD ($)	Oct. 31, 2017 USD ($)	Feb. 02, 2017 USD ($)
Debt Instrument [Line Items]
Repayments of long-term debt			$ 367,660,000	$ 6,515,000	$ 6,136,000
First Lien Credit Agreement
Debt Instrument [Line Items]
Required prepayment as percentage of prior year excess cash flow, Baseline	50.00%
First Lien Credit Agreement \| Maximum
Debt Instrument [Line Items]
Credit agreement EBITDA ratio, threshold one	4.25
Credit agreement EBITDA ratio, threshold two	4.00
Credit agreement EBITDA ratio, threshold three	3.75
First Lien Credit Agreement \| EBITDA Ratio 4.25 to 1.00
Debt Instrument [Line Items]
Required prepayment as percentage of prior year excess cash flow, Baseline	25.00%
First Lien Credit Agreement \| EBITDA Ratio 4.00 to 1.00
Debt Instrument [Line Items]
Required prepayment as percentage of prior year excess cash flow, Baseline	0.00%
Term Loan \| First Lien Credit Agreement
Debt Instrument [Line Items]
Borrowed funds							$ 175,000,000
Periodic principal payment	$ 1,400,000
Term Loan \| First Lien Term Loans
Debt Instrument [Line Items]
Repayments of long-term debt		$ 235,000,000
Borrowed funds	$ 570,000,000
Term Loan \| First Lien Term Loans \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.75%
Decrease in applicable margin from previous interest rate margin (percent)	(0.25%)
Term Loan \| First Lien Term Loans \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.75%
Term Loan \| First Lien Term Loans \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.50%
Term Loan \| First Lien Term Loans \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
Term Loan \| First Lien Term Loans \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
Term Loan \| First Lien Term Loans \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.50%
Term Loan \| Second Lien Term Loans
Debt Instrument [Line Items]
Repayments of long-term debt		125,000,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Credit facility borrowing capacity		$ 75,000,000				$ 100,000,000
Credit facility aggregate borrowings as component of total commitment (percent)	30.00%
Credit agreement ratio of debt To EBITDA	7.75
Revolving Credit Facility \| Line of Credit \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	3.00%
Revolving Credit Facility \| Line of Credit \| LIBOR \| EBITDA Ratio 4.25 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.75%
Revolving Credit Facility \| Line of Credit \| LIBOR \| EBITDA Ratio 3.75 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.50%
Revolving Credit Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	2.00%
Revolving Credit Facility \| Line of Credit \| Base Rate \| EBITDA Ratio 4.25 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
Revolving Credit Facility \| Line of Credit \| Base Rate \| EBITDA Ratio 3.75 to 1.00
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.50%
Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Credit facility borrowing capacity	$ 20,000,000

Long-term Debt - Maturities of Debt (Details) $ in Thousands	Dec. 30, 2017 USD ($)
Long-term Debt, Fiscal Year Maturity
2018	$ 5,700
2019	5,700
2020	5,700
2021	5,700
2022	5,700
Thereafter	540,075
Total	$ 568,575

Long-term Debt - Future Minimum Lease Payments Under Capital Leases (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2018	$ 2,760
2019	2,297
2020	1,993
2021	1,876
2022	1,791
Thereafter	7,461
Total minimum lease payments	18,178
Less: Amount representing interest	(6,193)
Present value of net minimum lease payments	11,985
Less: Current maturities of capital lease obligations	(1,558)	$ (770)
Capital lease obligations - non-current portion	$ 10,427

Stock Incentive Plans - 2014 Stock Incentive Plan Narrative (Details) - 2014 Stock Incentive Plan $ in Millions	12 Months Ended
	Dec. 30, 2017 USD ($) anniversary shares	Dec. 31, 2016 USD ($) shares	Jan. 02, 2016 shares	Jan. 03, 2015 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares reserved under stock incentive plan (shares)	10,988,827
Number of shares available for future grants (shares)	69,452
Service-Based and Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options issued and outstanding, excluding rollover options (shares)	10,347,067
Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options issued and outstanding, excluding rollover options (shares)	3,822,915	3,528,525	3,533,405	3,423,962
Contractual maturity (years)	10 years
Vesting percentage in annual increments	20.00%
Number of annual vesting increments in vesting period \| anniversary	5
Intrinsic value of options exercised \| $	$ 1.5	$ 0.3
Service-Based \| Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	46.00%
Service-Based \| Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	25.00%
Service-Based \| Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	16.00%
Service-Based \| Year Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	9.00%
Service-Based \| Year Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	4.00%

Stock Incentive Plans - Stock Option Activity (Details) - 2014 Stock Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Performance-Based
Number of Options Outstanding
Outstanding, beginning balance (shares)	5,765,156	5,617,945	5,135,945
Granted (shares)	758,996	396,690	544,032
Forfeited (shares)	0	(249,479)	(62,032)
Outstanding, ending balance (shares)	6,524,152	5,765,156	5,617,945
Service-Based
Number of Options Outstanding
Outstanding, beginning balance (shares)	3,528,525	3,533,405	3,423,962
Granted (shares)	505,958	264,460	362,688
Exercised (shares)	(211,568)	(142,402)	(211,891)
Repurchased (shares)		(22,333)
Forfeited (shares)		(104,605)	(41,354)
Outstanding, ending balance (shares)	3,822,915	3,528,525	3,533,405
Vested and exercisable (shares)	1,631,023
Weighted Average Exercise Price ($)
Outstanding, beginning balance (usd per share)	$ 7.94	$ 7.45	$ 9.83
Granted (usd per share)	15.34	13.80	8.20
Exercised (usd per share)	5.16	7.31	8.22
Repurchased (usd per share)		7.41
Forfeited (usd per share)		7.24	8.22
Outstanding, ending balance (usd per share)	7.22	$ 7.94	$ 7.45
Vested and exercisable (usd per share)	$ 6.75
Outstanding, weighted average remaining contractual term (years)	6 years 11 months 16 days
Outstanding, aggregate intrinsic value	$ 127,641
Vested and exercisable, weighted average remaining contractual term (years)	6 years 5 months 1 day
Vested and exercisable, aggregate intrinsic value	$ 55,229

Stock Incentive Plans - Stock Option Valuation Assumptions (Details) - 2014 Stock Incentive Plan - Service-Based	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Fair Value Assumptions
Expected term	6 years 6 months	6 years 6 months
Expected volatility	60.40%	60.40%
Risk-free interest rate	2.00%
Risk-free interest rate, minimum		1.60%
Risk-free interest rate, maximum		2.00%
Dividend yield	0.00%	0.00%

Stock Incentive Plans - Service-Based Options (Details) - 2014 Stock Incentive Plan - Service-Based - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value (usd per share)	$ 9.01	$ 8.58	$ 5.63
Options Granted (shares)	505,958	264,460	362,688
Aggregate Grant Date Fair Value	$ 4,559	$ 2,270	$ 2,043
Remaining Unrecognized Service Cost	$ 3,579	$ 1,125	$ 386
Remaining Requisite Service Period (Years)	4 years 6 months 11 days	3 years 9 months 22 days	2 years 8 months 12 days
Non-Vested Options Outstanding (shares)	505,958	211,568	187,796
Fair Value Of Options Vested	$ 0	$ 454	$ 894

Stock Incentive Plans - Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan Narrative (Details) - Vision Holding Corp Amended And Restated 2013 Equity Incentive Plan	Dec. 30, 2017 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested and exercisable (shares) \| shares	169,049
Weighted average exercise price (usd per share) \| $ / shares	$ 1.66

Stock Incentive Plans - 2017 Omnibus Incentive Plan Narrative (Details) - 2017 Omnibus Incentive Plan - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Oct. 26, 2017	Oct. 25, 2017	Dec. 30, 2017	Oct. 23, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock authorized to be issued under plan (shares)				4,000,000
Options Granted (shares)		92,443
Options granted exercise price (usd per share)		$ 22.00
Grant date fair value		$ 0.8
Vesting period (years)		3 years
Weighted average remaining contractual term (years)			9 years 9 months 26 days
Aggregate intrinsic value			$ 1.7
Remaining unrecognized service cost			$ 0.8
Remaining requisite service period (years)			2 years 9 months 26 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (shares)	182,138
Restricted Stock Units \| Vesting in Two Equal Installments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining requisite service period (years)			1 year 9 months 26 days
Unvested restricted units (shares)	59,800
Grant date fair value	$ 1.3
Remaining unrecognized service cost			$ 1.2
Restricted Stock Units \| Vesting in Three Equal Installments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining requisite service period (years)			2 years 9 months 26 days
Unvested restricted units (shares)	122,338
Grant date fair value	$ 2.7
Remaining unrecognized service cost			$ 2.5

Income Taxes - Components of Income Tax (Benefit) Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Current income tax:
Federal	$ 5	$ 51	$ 38
State	1,082	1,302	202
Deferred income tax:
Federal	(40,044)	10,058	1,360
State	310	1,123	168
Income Tax Expense (Benefit)	$ (38,647)	$ 12,534	$ 1,768

Income Taxes - Reconciliation of Effective Tax Rate (Details) - USD ($)	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Income Tax Disclosure [Abstract]
Federal income tax provision at statutory rate of 35%	$ 2,511,000	$ 9,552,000	$ 1,885,000
State income tax provision, net of federal income tax	273,000	1,058,000	211,000
Increase (decrease) in deferred tax asset valuation allowance	769,000	979,000	(497,000)
Benefit of tax legislation	(42,965,000)	0	0
Other, net	765,000	945,000	169,000
Income Tax Expense (Benefit)	$ (38,647,000)	$ 12,534,000	$ 1,768,000
Effective income tax rate (percent)	(538.80%)	45.90%	32.80%

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016
Deferred tax assets:
NOL carry-forwards	$ 6,278	$ 3,195
AMT payment and employment credits	3,741	2,721
Deferred revenue	7,643	10,751
Accrued expenses and reserves	12,934	15,193
Loss on equity and cost method investments	1,175	1,000
Stock option compensation	6,606	6,489
Unrealized losses on hedging instruments	4,130	9,180
Other	4,222	5,171
Subtotal	46,729	53,700
Valuation allowances	1,296	1,131
Total net deferred tax assets	45,433	52,569
Deferred tax liabilities:
Depreciation of property and equipment	(38,355)	(41,872)
Amortization of intangible assets	(78,329)	(120,346)
Other	(2,397)	(1,629)
Total deferred tax liabilities	(119,081)	(163,847)
Net deferred tax liabilities	$ (73,648)	$ (111,278)

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Tax benefit due to re-measurement of deferred taxes as a result of new tax legislation	$ 43,000,000
Operating Loss Carryforwards [Line Items]
Non-expiring AMT carryforward credits and employment credits	3,741,000	$ 2,721,000
Deferred tax asset associated with equity method affiliate	900,000
Deferred tax asset related to impairment of cost method investment	300,000
Unrecognized tax benefits	0	$ 0
U.S. federal
Operating Loss Carryforwards [Line Items]
NOL carryforwards	26,100,000
NOL carryforwards expiring at end of fiscal year 2020	5,100,000
NOL carryforwards expiring at end of fiscal year 2033	3,300,000
NOL carryforwards expiring at end of fiscal year 2037	17,700,000
AMT carryforward and employment credit \| U.S. federal and state
Operating Loss Carryforwards [Line Items]
Non-expiring AMT carryforward credits and employment credits	$ 3,700,000

Interest Rate Derivatives - Narrative (Details)	Dec. 30, 2017 USD ($) agreement	Dec. 31, 2016 USD ($)
Derivative [Line Items]
Estimated reclassification from AOCL to earnings in next 12 months	$ 7,000,000
Interest Rate Swap \| Cash Flow Hedges
Derivative [Line Items]
Number of interest rate swap agreements \| agreement	3
Interest rate floor (percent)	1.00%
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 500,000,000	$ 500,000,000
Interest Rate Swap One \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 175,000,000
Fixed interest rate (percent)	3.4063%
Interest Rate Swap Two \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 225,000,000
Fixed interest rate (percent)	3.5125%
Interest Rate Swap Three \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 100,000,000
Fixed interest rate (percent)	2.60%

Interest Rate Derivatives - Cash Flow Hedge Derivative Instruments (Details) - USD ($)	Dec. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities, current	$ 6,969,000	$ 8,218,000
Fair value of derivative liabilities, noncurrent	9,155,000	15,518,000
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional amount	500,000,000	500,000,000
Fair value of derivative liabilities, current	6,969,000	8,218,000
Fair value of derivative liabilities, noncurrent	9,155,000	15,518,000
Hedge position in AOCL, net of tax	$ 9,868,000	$ 14,556,000

Related Party Transactions - Expenses Related to Management and Advisory Fees (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 30, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Related Party Transaction [Line Items]
Debt issuance costs		$ 4,527		$ 2,551
KKR
Related Party Transaction [Line Items]
Expenses related to management and/or advisory fees	$ 3,600	7,259	$ 851	3,533
Debt issuance costs		2,300
Berkshire
Related Party Transaction [Line Items]
Expenses related to management and/or advisory fees	$ 800	$ 955	$ 199	$ 194

Related Party Transactions - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Feb. 02, 2017	Dec. 30, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Dividends paid per share of common stock (in usd per share)	$ 1.51
Common stock, shares, outstanding	110,500	74,654	56,202
Tax benefit from cash distribution to vested option holders	$ 1.4
Reduction in additional paid-in capital related to dividends in excess of retained earnings	$ 171.0
Stock Options
Related Party Transaction [Line Items]
Cash distribution per share to vested option holders (in usd per share)	$ 1.51
Cash distribution to vested option holders	$ 3.7
Reduction in exercise price for unvested options (in usd per share)	$ 1.51

Equity in Net Assets of Non-Consolidated Affiliates - Narrative (Details) - USD ($) $ in Millions	Aug. 29, 2017	Dec. 30, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Equity interest in affiliate (percent)		28.00%
Investment in subsidiary		$ 2.3	$ 3.3
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Secured convertible promissory note receivable	$ 1.5	$ 1.5
Fixed interest rate on note receivable (percent)	5.00%
Equity Method Investee \| Base Rate
Schedule of Equity Method Investments [Line Items]
Variable interest rate on note receivable (percent)	0.25%

Equity in Net Assets of Non-Consolidated Affiliates - Financial Information of Affiliate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Balance Sheet Information for Affiliate
Current assets	$ 2,407	$ 1,610
Non-current assets	557	718
Total assets	2,964	2,328
Current liabilities	1,046	1,018
Non-current liabilities	3,000	0
Total liabilities	4,046	1,018
Net assets	(1,082)	1,310
Income Statement Information for Affiliate
Revenues	6,244	5,847	$ 1,910
Net loss	(3,433)	(4,153)	(3,233)
National Vision’s share of net loss	$ (1,001)	$ (1,370)	$ (896)

Equity in Net Assets of Non-Consolidated Affiliates - Transactions with Affiliate (Details) - Equity Method Investee - USD ($)	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Aug. 29, 2017
Statements of operations
Licensing fees (SG&A)	$ 955,000	$ 987,000	$ 1,061,000
Balance sheets
Prepaid expenses and other current assets	172,000	172,000
Other assets	1,518,000	$ 0
Loan receivable	1,500,000			$ 1,500,000
Accrued interest receivable	$ 18,000

Fair Value Measurements of Financial Assets and Liabilities - Narrative (Details) - Level 2 - USD ($) $ in Millions	Dec. 30, 2017	Dec. 31, 2016
Term Loan \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 570.2	$ 753.0
Term Loan \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	557.3	742.9
Capital Lease Obligations \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	14.0	2.9
Capital Lease Obligations \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 12.0	$ 2.7

Deferred Revenue - Roll-Forward of Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Movement in Deferred Revenue [Roll Forward]
Beginning balance	$ 87,428	$ 77,878
Sold	108,397	102,703
Revenue recognized	(101,610)	(93,153)
Ending balance	94,215	87,428
Product Protection Plans
Movement in Deferred Revenue [Roll Forward]
Beginning balance	23,855	20,972
Sold	54,028	48,021
Revenue recognized	(51,152)	(45,138)
Ending balance	26,731	23,855
Eye Care Clubs
Movement in Deferred Revenue [Roll Forward]
Beginning balance	63,478	56,802
Sold	46,443	43,767
Revenue recognized	(42,491)	(37,091)
Ending balance	67,430	63,478
HMO Memberships
Movement in Deferred Revenue [Roll Forward]
Beginning balance	95	104
Sold	7,926	10,915
Revenue recognized	(7,967)	(10,924)
Ending balance	$ 54	$ 95

Deferred Revenue - Current and Non-current Balances (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Deferred Revenue Arrangement [Line Items]
Current	$ 62,993	$ 57,996
Non-current	31,222	29,432
Deferred revenue	94,215	87,428	$ 77,878
Eye Care Clubs
Deferred Revenue Arrangement [Line Items]
Current	36,627	34,464
Non-current	30,803	29,014
Deferred revenue	67,430	63,478	56,802
HMO Memberships
Deferred Revenue Arrangement [Line Items]
Current	54	95
Non-current	0	0
Deferred revenue	54	95	104
Product Protection Plans
Deferred Revenue Arrangement [Line Items]
Current	26,312	23,437
Non-current	419	418
Deferred revenue	$ 26,731	$ 23,855	$ 20,972

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

- Definition

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

Deferred Revenue - Period to be Reflected in Future Operating Results (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Deferred Revenue Reflected in Operating Results of Future Fiscal Years
2018	$ 62,993
2019	23,021
2020	7,766
2021	329
2022	106
Deferred revenue	$ 94,215	$ 87,428	$ 77,878

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 08, 2017	May 31, 2017	Jul. 01, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Loss Contingencies [Line Items]
401(k) plan expense				$ 3,100	$ 2,600	$ 2,200
Charge for litigation settlement				7,000	$ 0	$ 0
1-800 Contacts Matter
Loss Contingencies [Line Items]
Amount of litigation settlement		$ 7,000
Charge for litigation settlement			$ 7,000
Percent of settlement award deposited in escrow account (percent)	50.00%
Amount of settlement deposited in escrow account	$ 3,500
Multi-Year Marketing Agreement
Loss Contingencies [Line Items]
Marketing agreement commitment				$ 9,900

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Commitments and Contingencies Disclosure [Abstract]
Total rent expense related to operating leases	$ 77,100	$ 69,700	$ 60,400
Percentage rent included in total rental expense	6,100	$ 6,300	$ 4,600
Future Minimum Rental Payments Under Operating Leases by Fiscal Year
2018	81,939
2019	73,745
2020	60,843
2021	46,574
2022	34,782
Thereafter	86,151
Total	$ 384,034

Commitments and Contingencies - Warranty Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Movement in Product Warrant Liability Accounts
Beginning balance	$ 1,343	$ 1,077
Accrued obligation	26,806	23,857
Claims paid	(26,556)	(23,591)
Ending balance	$ 1,593	$ 1,343

Earnings Per Share - Reconciliation of Basic and Diluted EPS Calculations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Earnings Per Share [Abstract]
Net income	$ 28,700	$ 1,546	$ (1,496)	$ 17,070	$ (9,709)	$ 3,026	$ 3,587	$ 17,854	$ 45,820	$ 14,758	$ 3,617
Weighted average shares outstanding for basic EPS	70,454	56,414	56,414	56,261	56,210	56,211	56,210	56,107	59,895	56,185	55,962
Effect of dilutive securities:
Stock options									2,140	817	0
Weighted average shares outstanding for diluted EPS	73,256	58,459	56,414	57,934	56,210	57,170	57,075	56,197	62,035	57,001	55,962
Basic EPS (usd per share)	$ 0.41	$ 0.03	$ (0.03)	$ 0.30	$ (0.17)	$ 0.05	$ 0.06	$ 0.32	$ 0.77	$ 0.26	$ 0.06
Diluted EPS (usd per share)	$ 0.39	$ 0.03	$ (0.03)	$ 0.29	$ (0.17)	$ 0.05	$ 0.06	$ 0.32	$ 0.74	$ 0.26	$ 0.06
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from EPS									254	88	887

Segment Reporting - Narrative (Details) $ in Millions	12 Months Ended
Segment Reporting - Narrative (Details) $ in Millions	Dec. 30, 2017 USD ($) store segment	Dec. 31, 2016 USD ($) store	Jan. 02, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Number of retail vision centers	1,013	943
Legacy
Segment Reporting Information [Line Items]
Number of retail vision centers	227
Revenue associated with managing operations of partner \| $	$ 36.7	$ 38.3	$ 40.6
Customer Concentration Risk \| Sales revenue
Segment Reporting Information [Line Items]
Concentration risk (percent)	11.20%

Segment Reporting - Financial Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Segment Reporting Information [Line Items]
Segment product revenues									$ 1,129,313	$ 980,953	$ 870,463
Segment services and plans revenues									245,995	215,242	192,065
Total net revenue	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 277,114	$ 301,216	$ 291,056	$ 326,809	1,375,308	1,196,195	1,062,528
Cost of products									456,078	390,369	353,894
Cost of services and plans									180,888	154,412	137,206
Total costs applicable to revenue									636,966	544,781	491,100
SG&A									597,924	524,238	474,053
Asset impairment									4,117	7,132	7,716
Debt issuance costs									4,527		2,551
Litigation settlement									7,000	0	0
Other expense, net									950	1,667	913
EBITDA									123,824	118,377	86,195
Depreciation and amortization									61,115	51,993	44,069
Interest expense, net									55,536	39,092	36,741
Earnings before income taxes									7,173	27,292	5,385
Operating Segments \| Owned & Host
Segment Reporting Information [Line Items]
Segment product revenues									847,866	730,741	622,845
Segment services and plans revenues									190,701	158,667	136,480
Total net revenue									1,038,567	889,408	759,325
Cost of products									248,548	212,208	180,847
Cost of services and plans									153,691	127,904	111,383
Total costs applicable to revenue									402,239	340,112	292,230
SG&A									401,762	343,838	293,700
Asset impairment									0	0	0
Debt issuance costs									0		0
Litigation settlement									0
Other expense, net									0	0	0
EBITDA									234,566	205,458	173,395
Operating Segments \| Legacy
Segment Reporting Information [Line Items]
Segment product revenues									103,887	103,618	104,218
Segment services and plans revenues									49,955	48,592	50,795
Total net revenue									153,842	152,210	155,013
Cost of products									48,275	48,097	49,701
Cost of services and plans									16,624	11,510	10,759
Total costs applicable to revenue									64,899	59,607	60,460
SG&A									52,705	52,925	52,924
Asset impairment									0	0	0
Debt issuance costs									0		0
Litigation settlement									0
Other expense, net									0	0	0
EBITDA									36,238	39,678	41,629
Operating Segments \| Corporate/Other
Segment Reporting Information [Line Items]
Segment product revenues									179,718	151,083	145,794
Segment services and plans revenues									12,172	17,533	18,468
Total net revenue									191,890	168,616	164,262
Cost of products									159,789	131,257	123,771
Cost of services and plans									10,573	14,998	15,064
Total costs applicable to revenue									170,362	146,255	138,835
SG&A									143,457	127,475	127,429
Asset impairment									4,117	7,132	7,716
Debt issuance costs									4,527		2,551
Litigation settlement									7,000
Other expense, net									950	1,667	913
EBITDA									(138,523)	(113,913)	(113,182)
Reconciling Items
Segment Reporting Information [Line Items]
Segment product revenues									(2,158)	(4,489)	(2,394)
Segment services and plans revenues									(6,833)	(9,550)	(13,678)
Total net revenue									(8,991)	(14,039)	(16,072)
Cost of products									(534)	(1,193)	(425)
Cost of services and plans									0	0	0
Total costs applicable to revenue									(534)	(1,193)	(425)
SG&A									0	0	0
Asset impairment									0	0	0
Debt issuance costs									0		0
Litigation settlement									0
Other expense, net									0	0	0
EBITDA									$ (8,457)	$ (12,846)	$ (15,647)

Segment Reporting - Net Product Revenue Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Revenue from External Customer [Line Items]
Net product sales	$ 1,129,313	$ 980,953	$ 870,463
Eyeglasses and sunglasses
Revenue from External Customer [Line Items]
Net product sales	763,268	663,253	574,969
Contact lenses
Revenue from External Customer [Line Items]
Net product sales	358,808	310,322	288,570
Accessories and other
Revenue from External Customer [Line Items]
Net product sales	$ 7,237	$ 7,378	$ 6,924

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	$ 401,887	$ 386,230	$ 523,594
Ending balance	659,588	401,887	386,230
Cash Flow Hedges
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(14,556)	(11,284)	(7,056)
Other comprehensive loss before reclassification	(1,051)	(5,116)	(7,065)
Tax effect of other comprehensive loss before reclassification	436	1,844	2,837
Amount reclassified from AOCL	8,664	0	0
Tax effect of amount reclassified from AOCL	(3,361)	0	0
Net current period other comprehensive income (loss), net of tax	4,688	(3,272)	(4,228)
Ending balance	$ (9,868)	$ (14,556)	$ (11,284)

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Quarterly Financial Information Disclosure [Abstract]
Total net revenue	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 277,114	$ 301,216	$ 291,056	$ 326,809	$ 1,375,308	$ 1,196,195	$ 1,062,528
(Loss) income from operations	(2,818)	16,560	13,772	39,722	(3,353)	14,315	15,737	39,685	67,236	66,384	44,677
Net income (loss)	$ 28,700	$ 1,546	$ (1,496)	$ 17,070	$ (9,709)	$ 3,026	$ 3,587	$ 17,854	$ 45,820	$ 14,758	$ 3,617
Weighted average shares outstanding for basic EPS	70,454	56,414	56,414	56,261	56,210	56,211	56,210	56,107	59,895	56,185	55,962
Weighted average shares outstanding for diluted EPS	73,256	58,459	56,414	57,934	56,210	57,170	57,075	56,197	62,035	57,001	55,962
Basic EPS (usd per share)	$ 0.41	$ 0.03	$ (0.03)	$ 0.30	$ (0.17)	$ 0.05	$ 0.06	$ 0.32	$ 0.77	$ 0.26	$ 0.06
Diluted EPS (usd per share)	$ 0.39	$ 0.03	$ (0.03)	$ 0.29	$ (0.17)	$ 0.05	$ 0.06	$ 0.32	$ 0.74	$ 0.26	$ 0.06

Condensed Financial Information of the Registrant - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Jan. 03, 2015
Current assets:
Cash and cash equivalents	$ 4,208	$ 4,945	$ 5,595	$ 6,832
Total current assets	162,477	147,259
Investment in subsidiary	2,300	3,300
Total non-current assets	1,421,314	1,383,858
Total assets	1,583,791	1,531,117
Non-current liabilities:
Other non-current liabilities	46,044	50,497
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 74,654 and 56,202 shares issued and outstanding as of December 30, 2017 and December 31, 2016, respectively	746	562
Additional paid-in capital	631,798	424,789
Accumulated other comprehensive loss	(9,868)	(14,556)
Retained earnings (accumulated deficit)	37,145	(8,675)
Treasury stock, at cost; 28 shares as of December 30, 2017 and December 31, 2016	(233)	(233)
Total stockholders’ equity	659,588	401,887	386,230	523,594
Total liabilities and stockholders’ equity	1,583,791	1,531,117
Parent Company
Current assets:
Cash and cash equivalents	23	12	$ 765	$ 5
Total current assets	23	12
Deferred income taxes	304	212
Investment in subsidiary	659,536	401,704
Total non-current assets	659,840	401,916
Total assets	659,863	401,928
Current liabilities:
Other current liabilities	46	32
Non-current liabilities:
Other non-current liabilities	229	9
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 74,654 and 56,202 shares issued and outstanding as of December 30, 2017 and December 31, 2016, respectively	746	562
Additional paid-in capital	631,798	424,789
Accumulated other comprehensive loss	(9,868)	(14,556)
Retained earnings (accumulated deficit)	37,145	(8,675)
Treasury stock, at cost; 28 shares as of December 30, 2017 and December 31, 2016	(233)	(233)
Total stockholders’ equity	659,588	401,887
Total liabilities and stockholders’ equity	$ 659,863	$ 401,928

Condensed Financial Information of the Registrant - Condensed Balance Sheets Additional Information (Details) - $ / shares	Dec. 30, 2017	Oct. 30, 2017	Feb. 02, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (usd per share)	$ 0.01			$ 0.01
Common stock, shares authorized	200,000,000	200,000,000		200,000,000
Common stock, shares, issued	74,654,000			56,202,000
Common stock, shares, outstanding	74,654,000		110,500,000	56,202,000
Treasury stock, shares	28,000			28,000
Parent Company
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (usd per share)	$ 0.01			$ 0.01
Common stock, shares authorized	200,000,000			200,000,000
Common stock, shares, issued	74,654,000			56,202,000
Common stock, shares, outstanding	74,654,000			56,202,000
Treasury stock, shares	28,000			28,000

Condensed Financial Information of the Registrant - Condensed Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Apr. 02, 2016	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Condensed Financial Statements, Captions [Line Items]
Total net revenue	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 277,114	$ 301,216	$ 291,056	$ 326,809	$ 1,375,308	$ 1,196,195	$ 1,062,528
Cost applicable to revenue									636,966	544,781	491,100
Operating expenses									671,106	585,030	526,751
Earnings before income taxes									7,173	27,292	5,385
Income tax (benefit) provision									(38,647)	12,534	1,768
Net income	28,700	1,546	(1,496)	17,070	(9,709)	3,026	3,587	17,854	45,820	14,758	3,617
Comprehensive income (loss):
Net income	$ 28,700	$ 1,546	$ (1,496)	$ 17,070	$ (9,709)	$ 3,026	$ 3,587	$ 17,854	45,820	14,758	3,617
Change in unrealized gain (loss) on hedge instruments									7,613	(5,116)	(7,065)
Tax (provision) benefit of change in unrealized gain (loss) on hedge instruments									(2,925)	1,844	2,837
Comprehensive income (loss)									50,508	11,486	(611)
Parent Company
Condensed Financial Statements, Captions [Line Items]
Total net revenue									0	0	0
Cost applicable to revenue									0	0	0
Operating expenses									218	195	343
Earnings before income taxes									(218)	(195)	(343)
Income tax (benefit) provision									(85)	(76)	(134)
Loss before equity in net income of subsidiaries									(133)	(119)	(209)
Net income of subsidiaries									45,953	14,877	3,826
Net income									45,820	14,758	3,617
Comprehensive income (loss):
Net income									45,820	14,758	3,617
Change in unrealized gain (loss) on hedge instruments									7,613	(5,116)	(7,065)
Tax (provision) benefit of change in unrealized gain (loss) on hedge instruments									(2,925)	1,844	2,837
Comprehensive income (loss)									$ 50,508	$ 11,486	$ (611)

Condensed Financial Information of the Registrant - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Cash flows from operating activities:
Net cash provided by (used for) operating activities	$ 90,252	$ 97,588	$ 83,131
Cash flows from investing activities:
Net cash used for investing activities	(94,827)	(91,664)	(80,051)
Cash flows from financing activities:
Proceeds from exercise of stock options	1,092	915	1,762
Proceeds from issuance of common stock	371,932	0	110
Dividend to stockholders	(170,983)	0	(145,667)
Other	(940)	(974)	(20)
Net cash provided by (used for) financing activities	3,838	(6,574)	(4,317)
Net change in cash and cash equivalents	(737)	(650)	(1,237)
Cash and cash equivalents, beginning of year	4,945	5,595	6,832
Cash and cash equivalents, end of year	4,208	4,945	5,595
Parent Company
Cash flows from operating activities:
Net cash provided by (used for) operating activities	11	(564)	(335)
Cash flows from investing activities:
Dividend from subsidiary	170,983	167	145,667
Investment in subsidiary	(373,024)	(884)	(1,181)
Net cash used for investing activities	(202,041)	(717)	144,486
Cash flows from financing activities:
Proceeds from exercise of stock options	1,092	915	1,762
Proceeds from issuance of common stock	371,932	0	110
Dividend to stockholders	(170,983)	0	(145,667)
Other	0	(387)	404
Net cash provided by (used for) financing activities	202,041	528	(143,391)
Net change in cash and cash equivalents	11	(753)	760
Cash and cash equivalents, beginning of year	12	765	5
Cash and cash equivalents, end of year	$ 23	$ 12	$ 765

Condensed Financial Information of the Registrant - Notes to Condensed Financial Statements (Details) - USD ($)		12 Months Ended
	Oct. 30, 2017	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016	Nov. 20, 2017	Oct. 31, 2017	Feb. 02, 2017
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt		$ 367,660,000	$ 6,515,000	$ 6,136,000
Long-term debt, gross		568,575,000
Term Loan
Condensed Financial Statements, Captions [Line Items]
Long-term debt, gross		568,575,000	758,598,000
First Lien Credit Agreement \| Term Loan
Condensed Financial Statements, Captions [Line Items]
Borrowed funds							$ 175,000,000
First Lien Credit Agreement \| Term Loan \| National Vision Inc. \| Subsidiary
Condensed Financial Statements, Captions [Line Items]
Borrowed funds							$ 175,000,000
Second Lien Term Loans \| Term Loan
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt	$ 125,000,000
Long-term debt, gross		0	125,000,000
Second Lien Term Loans \| Term Loan \| National Vision Inc. \| Subsidiary
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt	125,000,000
First Lien Term Loans \| Term Loan
Condensed Financial Statements, Captions [Line Items]
Borrowed funds					$ 570,000,000
Repayments of long-term debt	235,000,000
Long-term debt, gross			$ 633,598,000
First Lien Term Loans \| Term Loan \| National Vision Inc. \| Subsidiary
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt	235,000,000
Long-term debt, gross		568,575,000
Revolving Credit Facility \| Line of Credit
Condensed Financial Statements, Captions [Line Items]
Credit facility borrowing capacity	$ 75,000,000					$ 100,000,000
Revolving Credit Facility \| Line of Credit \| National Vision Inc. \| Subsidiary
Condensed Financial Statements, Captions [Line Items]
Credit facility borrowing capacity						$ 100,000,000
Amount outstanding on line of credit		0
Outstanding letters of credit		$ 11,200,000