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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 29, 2018	Jan. 31, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	National Vision Holdings, Inc.
Entity Central Index Key	0001710155
Current Fiscal Year End Date	--12-29
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 29, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		78,208,539
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1.3

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Current assets:
Cash and cash equivalents	$ 17,132	$ 4,208
Accounts receivable, net	50,735	43,193
Inventories	116,022	91,151
Prepaid expenses and other current assets	30,815	23,925
Total current assets	214,704	162,477
Property and equipment, net	355,117	302,280
Other assets:
Goodwill	777,613	792,744
Trademarks and trade names	240,547	240,547
Other intangible assets, net	64,532	72,903
Other assets	8,876	10,988
Total non-current assets	1,446,685	1,419,462
Total assets	1,661,389	1,581,939
Current liabilities:
Accounts payable	43,642	35,708
Other payables and accrued expenses	81,004	77,611
Unearned revenue	27,295	27,739
Deferred revenue	52,144	62,993
Current maturities of long-term debt	7,567	7,258
Total current liabilities	211,652	211,309
Long-term debt, less current portion and debt discount	570,545	561,980
Other non-current liabilities:
Deferred revenue	20,134	31,222
Other liabilities	53,964	50,902
Deferred income taxes, net	61,940	71,926
Total other non-current liabilities	136,038	154,050
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 78,246 and 74,654 shares issued as of December 29, 2018 and December 30, 2017, respectively; 78,167 and 74,654 shares outstanding as of December 29, 2018 and December 30, 2017, respectively	782	746
Additional paid-in capital	672,503	631,798
Accumulated other comprehensive loss	(2,810)	(9,868)
Retained earnings	74,840	32,157
Treasury stock, at cost; 79 and 28 shares as of December 29, 2018 and December 30, 2017, respectively	(2,161)	(233)
Total stockholders’ equity	743,154	654,600
Total liabilities and stockholders’ equity	$ 1,661,389	$ 1,581,939

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 29, 2018	Dec. 30, 2017	Oct. 30, 2017	Feb. 02, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	200,000,000	200,000,000	200,000,000
Common stock, issued (shares)	78,246,000	74,654,000
Common stock, outstanding (shares)	78,167,000	74,654,000		110,500,000
Treasury stock, at cost (shares)	79,000	28,000

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Revenue:
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Costs applicable to revenue (exclusive of depreciation and amortization):
Total costs applicable to revenue	173,470	182,588	177,059	180,454	152,393	162,358	156,408	165,808	713,571	636,966	544,781
Operating expenses:
Selling, general and administrative expenses									687,476	600,010	525,869
Depreciation and amortization									74,339	61,974	52,677
Asset impairment									17,630	4,117	7,132
Litigation settlement									0	7,000	0
Other expense, net									1,487	950	1,667
Total operating expenses									780,932	674,051	587,345
Income from operations	(19,387)	(2,083)	24,973	38,848	(3,606)	15,816	13,059	39,022	42,351	64,291	64,069
Interest expense, net									37,283	55,536	39,092
Debt issuance costs									200	4,527	0
Earnings before income taxes									4,868	4,228	24,977
Income tax provision (benefit)									(18,785)	(38,910)	11,634
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Earnings per share:
Basic (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Weighted average shares outstanding:
Basic (shares)	77,526	76,118	75,249	74,714	70,454	56,414	56,414	56,261	75,899	59,895	56,185
Diluted (shares)	77,526	79,710	77,858	77,837	73,256	58,459	56,414	57,934	79,041	62,035	57,001
Comprehensive income:
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Unrealized gain (loss) on hedge instruments									9,488	7,613	(5,116)
Tax provision (benefit) of unrealized gain (loss) on hedge instruments									2,430	2,925	(1,844)
Comprehensive income									30,711	47,826	10,071
Products
Revenue:
Total net revenue									1,269,612	1,129,313	980,953
Costs applicable to revenue (exclusive of depreciation and amortization):
Total costs applicable to revenue									511,406	456,078	390,369
Services and plans
Revenue:
Total net revenue									267,242	245,995	215,242
Costs applicable to revenue (exclusive of depreciation and amortization):
Total costs applicable to revenue									$ 202,165	$ 180,888	$ 154,412

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. 02, 2016		56,088
Beginning balance at Jan. 02, 2016	$ 385,339	$ 561	$ 420,386	$ (11,284)	$ (24,324)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Tax impact of stock option exercises	(619)		(619)
Common stock issuances (shares)		142
Common stock issuances	1,041	$ 1	1,040
Share based compensation	4,293		4,293
Repurchase of stock options	(167)		(167)
Purchase of treasury stock (shares)		(28)
Purchase of treasury stock	(377)		(144)			(233)
Unrealized gain on hedge instruments, net of tax	(3,272)			(3,272)
Net income	13,343				13,343
Ending balance (shares) at Dec. 31, 2016		56,202
Ending balance at Dec. 31, 2016	399,581	$ 562	424,789	(14,556)	(10,981)	(233)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends to stockholders	(170,983)		(170,983)
Issuance of common stock, net (shares)		18,452
Issuance of common stock	373,024	$ 184	372,840
Share based compensation	5,152		5,152
Unrealized gain on hedge instruments, net of tax	4,688			4,688
Net income	43,138				43,138
Ending balance (shares) at Dec. 30, 2017		74,654
Ending balance at Dec. 30, 2017	654,600	$ 746	631,798	(9,868)	32,157	(233)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net (shares)		3,564
Issuance of common stock	19,802	$ 36	19,766
Share based compensation	20,939		20,939
Purchase of treasury stock (shares)		(51)
Purchase of treasury stock	(1,928)					(1,928)
Unrealized gain on hedge instruments, net of tax	7,058			7,058
Net income	23,653
Ending balance (shares) at Dec. 29, 2018		78,167
Ending balance at Dec. 29, 2018	$ 743,154	$ 782	$ 672,503	$ (2,810)	$ 74,840	$ (2,161)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 23,653	$ 43,138	$ 13,343
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	74,339	61,974	52,677
Amortization of loan costs	1,848	7,078	3,906
Asset impairment	17,630	4,117	7,132
Deferred income tax expense (benefit)	(19,340)	(39,997)	10,281
Non-cash stock option compensation	20,939	5,152	4,293
Non-cash inventory adjustments	3,868	5,496	1,728
Bad debt expense	7,107	8,035	4,052
Debt issuance costs	200	4,527	0
Other	2,413	1,188	1,028
Changes in operating assets and liabilities:
Accounts receivable, net	(14,649)	(16,858)	(9,075)
Inventories	(28,739)	(9,583)	(13,827)
Other assets	(7,011)	(2,075)	(4,153)
Accounts payable	7,934	(3,692)	5,616
Deferred revenue	3,839	6,787	9,550
Other liabilities	12,597	14,965	11,037
Net cash provided by operating activities	106,628	90,252	97,588
Cash flows from investing activities:
Purchase of property and equipment	(104,493)	(93,219)	(90,026)
Purchase of investments	0	(1,500)	(1,000)
Other	272	136	54
Net cash used for investing activities	(104,221)	(94,583)	(90,972)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	200,000	174,924	0
Proceeds from issuance of common stock	19,802	373,024	915
Principal payments on long-term debt	(204,275)	(367,660)	(6,515)
Purchase of treasury stock	(1,928)	0	(188)
Payments on capital lease obligations	(1,802)	(940)	(587)
Debt issuance costs	(1,400)	(4,527)	0
Dividend to stockholders	0	(170,983)	0
Other	0	0	(199)
Net cash provided by (used for) financing activities	10,397	3,838	(6,574)
Net change in cash, cash equivalents and restricted cash	12,804	(493)	42
Cash and cash equivalents and restricted cash, beginning of year	5,194	5,687	5,645
Cash and cash equivalents and restricted cash, end of year	17,998	5,194	5,687
Supplemental cash flow information:
Cash paid for interest	33,469	47,090	34,873
Cash paid (received) for taxes	1,447	2,647	(415)
Property and equipment accrued at the end of the period	14,078	10,782	9,202
Fixed assets acquired under capital lease obligations	14,303	10,117	1,004
Non-cash issuance of common shares	446	0	157
Non-cash purchase of treasury stock	(446)	0	(188)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Total cash, cash equivalents and restricted cash	$ 5,194	$ 5,687	$ 5,645

Business and Significant Accounting Policies

12 Months Ended

Dec. 29, 2018

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 1,082 and 1,013 retail optical locations in the United States and its territories as of the fiscal years ended December 29, 2018 and December 30, 2017, 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 and web sites on behalf of certain independent retailers and insurance companies. AC Lens also distributes contact lenses at its cost to Walmart and Sam's Club store locations and earns a fulfillment fee per order shipped.

Our wholly-owned subsidiary is a specialized health maintenance organization (“HMO”), FirstSight Vision Services, Inc. (“FirstSight”) that is licensed as a single-service health plan under California law. FirstSight issues individual vision care benefit plans in connection with our America’s Best operations in California, and provides or arranges for the provision of optometric services at the offices next to certain Walmart stores throughout California.

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 2018,” “fiscal year 2017,” and “fiscal year 2016,” relate to the 52 weeks ended December 29, 2018, December 30, 2017 and December 31, 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 and Secondary Public Offerings

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 Term Loan B under our first lien credit agreement 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 (“SG&A”) 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.

During fiscal year 2018, we completed three underwritten public offerings in which KKR Sponsor, Berkshire and certain management stockholders (“selling stockholders”) sold an aggregate of 42,914,852 shares of the Company’s common stock. The Company did not receive any proceeds from the offerings. However, the second and third offerings resulted in certain incentive compensation expenses relating to vesting of performance-based stock options and a payout under a non-executive long-term incentive plan. See Note 5. “Stock Incentive Plan” for details. Affiliates of KKR Sponsor and Berkshire retained 11.7% and 2.7% ownership interest, respectively, as of fiscal year end 2018.

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.

Cash and Cash Equivalents

Cash consists of currency and demand deposits with financial institutions. 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 in the accompanying consolidated balance sheets.

Accounts Receivable, Net

Accounts receivable associated with revenues consist primarily of trade receivables and credit card receivables. Trade receivables consist primarily of receivables from managed care payors and receivables from major retailers. While we have relationships with almost all vision care insurers in the United States and with all of the major carriers, currently, a relatively small number of payors comprise the majority of our managed care revenues, subjecting us to concentration risk. Trade receivables and credit card receivables are included in accounts receivable, net, on our consolidated balance sheets, and are presented separately in Note 2. “Details of Certain Balance Sheet Accounts.” 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. Bad debt expense recognized on our receivables were approximately $7.1 million, $8.0 million and $4.1 million for the fiscal years 2018, 2017 and 2016, respectively.

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”). Manufactured 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, contact lens vendor return acceptance activity, 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 consists primarily of contact lenses, eyeglass frames and unprocessed eyeglass lenses. A significant portion of our inventory is supplied by a small number of key vendors. During fiscal year 2018, 93% of contact lens expenditures were with three vendors, 52% of frame expenditures were with two vendors and 90% of lens expenditures were with one vendor. This exposes us to concentration of vendor risk.

Prepaid Expenses and Other Current Assets

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

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 SG&A 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
Equipment	5 - 7 years
Information systems hardware and software ^(a)	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(b)	10 years
P&E under capital leases ^(b)	10 years
____________
(a) 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 information systems hardware and software.
(b) Depreciation of 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.

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 2018 and 2017 was September 30, 2018, and October 1, 2017, respectively.

Definite-lived, amortizing intangible assets primarily consist of our contracts and relationships with certain retailers and 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.

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 reporting units. We estimate the fair value of our reporting units using the income approach, which is based on a discounted cash flow analysis and calculate the fair value of reporting units by estimating after-tax cash flows discounted using the Company’s consolidated weighted average cost of capital. The cash flows used in the analysis are based on financial forecasts developed internally by management and require significant judgment. The significant unobservable inputs used in the fair value measurement of the reporting units are revenue growth rate, cost of sales, payroll expense growth rate and other store expenses growth rate. These assumptions are sensitive to future changes in the business profitability, changes in our business strategy and external market conditions, among other factors. A decrease to the long term revenue growth rate assumption or an increase to the expense growth rate assumptions could require us to record additional impairment charges for goodwill, which could lead to decreased assets and reduced net income.

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 net undiscounted cash flows are less than the carrying value of the related assets, we then measure impairment based on a discounted cash flow model and record an impairment charge as the excess of carrying value and estimated fair value.

We evaluate non-amortizing trademarks and trade names 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. We record an impairment charge as the excess of carrying value over estimated fair value.

See Note 3. “Goodwill and Intangible Assets” for further detail on impairment of goodwill and intangible assets.

Other Assets

Other non-current assets consist primarily of our investment in and loans to our equity method investee, below market leases, self-insurance recoveries and technology support service contracts.

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 exceeds 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 Investee,” for further discussion relating to this investment.

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 compared to expected operating results, a significant or adverse change in customer business climate, or a significant negative industry or economic trend.

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 debt discounts. Loan discounts are amortized over the term of the related financing agreement and included in interest expense in the accompanying consolidated statements of operations.

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 $0.8 million and $0.6 million (current portion) as of fiscal year end 2018 and fiscal year end 2017, respectively, and other assets in the amounts of $1.1 million and $1.0 million (non-current portion) as of fiscal year end 2018 and fiscal year end 2017, respectively, in the accompanying consolidated balance sheets. The accrued obligation for self-insurance programs was $8.1 million and $6.9 million (current portion) and $5.1 million and $4.6 million (non-current portion) as of fiscal year end 2018 and fiscal year end 2017, 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. Fair value represents 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). 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. 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 13. “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 unrealized loss on our hedging instruments. See Note 16. “Accumulated Other Comprehensive Loss” for details of reclassifications out of AOCL.

Revenue Recognition

Product revenues include sales of prescription and non-prescription eyewear, contact lenses, 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.

At our America’s Best brand, our signature offer is two pairs of eyeglasses and a free eye exam for one low price (“two-pair offer”). Since an eye exam is a key component in the ability for acceptable prescription eyewear to be delivered to a customer, we concluded that the eye exam service, while capable of being distinct from the eyeglass product delivery, was not distinct in the context of the two-pair offer. As a result, we do not allocate revenue to the eye exam associated with the two-pair offer, and we record all revenue associated with the offer in owned & host net product sales when the customer has received and accepted the merchandise.

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 processing and delivery times throughout the current month and generally ranges from four to 10 days with most sales having an average processing versus delivery time difference of seven to eight days. All unearned revenue at the end of a reporting period is recognized in the next fiscal period

Revenue is recognized net of sales taxes and returns. The returns allowance is based on historical return patterns. Provisions for estimated returns are established and the expected costs continue to be recognized as contra-revenue when the products are sold.

Refer to Note 7. “Revenue from Contracts With Customers” for further details of our revenues.

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 accompanying consolidated statements of operations.

As a component of the Company's 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, occupancy and other store expenses, 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. 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.

Advertising expenses were $107.5 million, $93.2 million and $85.4 million for fiscal years 2018, 2017 and 2016, respectively.

Leases

We lease our retail stores, optometric examination offices, distribution centers, vehicles, office space and optical laboratories, 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 obtains the right to use 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. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more. The lease term includes renewal option periods when the renewal is reasonably assured, and is consistent with the depreciable life of corresponding leasehold improvements. 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 corresponding amounts are recorded as debt obligations 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.

Impairment of P&E

We evaluate impairment of long-lived tangible store assets at the 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 net cash flows expected to be generated by the related assets over the shorter of the remaining useful life or the remaining term of the lease are less than the carrying value of the subject assets, we then measure impairment based on a discounted cash flow model and record an impairment charge as the excess of carrying value and estimated fair value using Level 3 fair valuation inputs.

As a result of our tests for impairment of our long-lived tangible store assets classified as held and used, an impairment of $2.5 million, $1.6 million and $1.2 million was recorded for fiscal years 2018, 2017 and 2016, respectively. There was $0.1 million remaining fair value of the assets that were impaired during fiscal year 2018 and no remaining fair value of the assets that were impaired during fiscal year 2017.

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 years 2018 and 2016 there was no impairment of capitalized software. There was $1.5 million in impairment of capitalized software during fiscal year 2017.

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 the 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. Pursuant to SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Legislation, the Company recognized provisional effects of the enactment of the Tax Legislation for which measurement could be reasonably estimated as of fiscal year end 2017. For fiscal year 2018, the Company recorded adjustments to the provisional estimates related to depreciation expense. The adjustments to the provisional estimates of fiscal year end 2017 did not materially impact the effective tax rate of the Company during fiscal year 2018. See Note 6. “Income Taxes” for additional information.

Adoption of New Accounting Pronouncements

Revenue from Contracts with Customers. 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. It also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments.

Under the new guidance, there is a five-step model to apply to revenue recognition, consisting of: (1) determination of whether a contract, an agreement between two or more parties that creates legally enforceable rights and obligations, exists; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when (or as) the performance obligation is satisfied.

The Company adopted this new guidance in the first quarter of 2018 using the modified retrospective transition method. The adoption resulted in a $14.0 million and $11.8 million decrease in current and non-current deferred revenue, respectively, for certain contracts where we satisfy performance obligations over time and a related $6.8 million increase in deferred income tax liability, resulting in a net $19.0 million increase to retained earnings on the consolidated balance sheet as of December 30, 2017. Under previous guidance, we recognized revenue for eyecare club memberships on a ratable basis over the service period. Currently, we have selected the portfolio approach because our historical club membership data demonstrated that our club customers behave similarly, such that the difference between the portfolio approach and applying ASC 606 to each contract is not material. This change did not have a significant impact on our ongoing consolidated results of operations and the cumulative effect and the impact on revenues is described in Note 7. “Revenue From Contracts with Customers”.

Our results of operations for the reported periods after December 30, 2017 are presented under this amended guidance, while prior period amounts are not adjusted and continue to be reported in accordance with historical accounting guidance. Adoption of this new guidance did not result in significant changes to our business processes, systems or controls, or have a material impact on our results of operations and cash flows. The impact of adopting the amended guidance primarily relates to the timing of revenue recognition for our eyecare club memberships, which comprised approximately 3% of our consolidated net revenue during each of the most recent three fiscal years. See Note 7. “Revenue From Contracts with Customers” for additional information.

The following table summarizes the cumulative effect of adoption of ASC 606 on the Company’s consolidated balance sheet as of December 29, 2018, which reflects the change in timing of revenue recognition relating to eyecare club memberships.



In thousands	With ASC 606 Adoption		Without ASC 606 Adoption		Impact of Adoption
Current liabilities:
Deferred revenue	$	52,144	$	67,435	$	(15,291	)
Total current liabilities	$	211,652	$	226,943	$	(15,291	)
Other non-current liabilities:
Deferred revenue	$	20,134	$	31,926	$	(11,792	)
Deferred income taxes, net	$	61,940	$	55,002	$	6,938
Total other non-current liabilities	$	136,038	$	140,892	$	(4,854	)
Stockholders' equity:
Retained earnings	$	74,840	$	54,695	$	20,145
Total stockholders' equity	$	743,154	$	723,009	$	20,145

The following table summarizes the impact of adoption on the Company’s consolidated statement of operations for the year ended December 29, 2018:



In thousands, except earnings per share	With ASC 606 Adoption			Without ASC 606 Adoption			Impact of Adoption
Revenue:
Net sales of services and plans	$	267,242		$	265,935		$	1,307
Total net revenue	$	1,536,854		$	1,535,547		$	1,307
Income from operations	$	42,351		$	41,044		$	1,307
Earnings before income taxes	$	4,868		$	3,561		$	1,307
Income tax provision (benefit)	$	(18,785	)	$	(19,119	)	$	334
Net income	$	23,653		$	22,680		$	973
Earnings per share:
Basic	$	0.31		$	0.30		$	0.01
Diluted	$	0.30		$	0.29		$	0.01

There were no other material impacts on our consolidated financial statements as a result of our adoption of this new guidance.

Restricted Cash. In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash. This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The Company adopted this new guidance during the first quarter of 2018 using full retrospective application to each period presented. The adoption of this new guidance did not have a material impact on the Company’s financial condition, results of operations, or cash flows.

Share Based Payment Accounting. In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This new guidance expands the scope of Topic 718 to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. The Company adopted this new guidance effective beginning of fiscal year 2018. The adoption of this new guidance did not have a material impact on Company’s financial condition, results of operations, or cash flows.

Future Adoption of Accounting Pronouncements

Lease. 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. Disclosure of key information about leasing arrangements will also be required. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim reporting periods within that fiscal year. In July 2018, the FASB issued ASU 2018-11, “Leases: Targeted Improvements,” as an amendment to ASU 2016-02, “Leases,” which provides entities with an additional transition method to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. We will adopt the accounting standard using a modified retrospective transition approach in the first quarter of 2019, which applies the provisions of the new guidance at the effective date without adjusting the comparative periods presented, and will elect the package of practical expedients, short-term practical expedient and the expedient to not separate lease components from non-lease components. We currently believe the most significant impact of adopting this ASU relates to recording operating lease liabilities and related ROU assets estimated to be between $325.0 million and $345.0 million on the consolidated balance sheet as of December 30, 2018. The Company does not expect the adoption of this new guidance to have a significant impact on the recognition, measurement or presentation of lease expenses within our consolidated statements of operations.

Other Comprehensive Income. In February 2018, the FASB issued Accounting Standards Update ASU 2018-02, Income Statement–Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02"). This guidance allows for an optional reclassification from accumulated other comprehensive income or loss to retained earnings for stranded tax effects as a result of the newly enacted federal corporate income tax rate under the Tax Legislation. This guidance is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. We will adopt the guidance during the first quarter of fiscal year 2019, and do not expect to reclassify the stranded income tax benefit resulting from adoption of the Tax Legislation from AOCL into earnings until the maturity of our interest rate derivative contracts. No other impact to the Company’s financial condition, result of operations, or cash flows is expected.

Cloud Computing. In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). This new guidance aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This new guidance is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years, with early adoption permitted. The amendments in this new guidance may be applied either retrospectively or prospectively. The Company is in the process of assessing the new guidance.

Correction of Errors in Previously Issued Financial Statements

In conjunction with fiscal 2018 year end financial reporting process, the Company identified errors in its previously issued consolidated financial statements related to lease accounting, specifically the accounting for tenant improvement allowances, straight-line rent and leasehold improvements. For certain leases, we depreciated leasehold improvements over a period longer than the remaining lease term. In addition, rent expense was understated as a result of amortizing tenant improvement allowances and recording straight-line rent adjustments over a period that differed from the lease term, which was determined giving consideration to those renewal periods that were reasonably assured of being exercised.

In accordance with SEC Staff Accounting Bulletin 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements (codified as Topic 1-N), the Company concluded that the correction of the errors was not material to any of its previously issued annual or interim financial statements. The Company has revised its previously issued consolidated financial statements contained in this Annual Report on Form 10-K to correct the effect of these immaterial errors for the corresponding periods. Accordingly, for these prior periods we revised the affected line items of our consolidated balance sheets, consolidated statements of operations and comprehensive income, consolidated statements of stockholders’ equity, and consolidated statements of cash flows.

The correction of the errors resulted in a $0.9 million increase in accumulated deficit as of January 2, 2016.

The following table presents the impact of these corrections on affected consolidated statements of operations and comprehensive income line items for the years ended December 30, 2017 and December 31, 2016:



	Fiscal Year 2017									Fiscal Year 2016
In thousands, except earnings per share	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Operating Expenses:
Selling, general and administrative expenses	$	597,924		$	2,086		$	600,010		$	524,238	$	1,631		$	525,869
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Total operating expenses	$	671,106		$	2,945		$	674,051		$	585,030	$	2,315		$	587,345
Income from operations	$	67,236		$	(2,945	)	$	64,291		$	66,384	$	(2,315	)	$	64,069
Earnings before income taxes	$	7,173		$	(2,945	)	$	4,228		$	27,292	$	(2,315	)	$	24,977
Income tax provision (benefit)	$	(38,647	)	$	(263	)	$	(38,910	)	$	12,534	$	(900	)	$	11,634
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Earnings per share:
Basic	$	0.77		$	(0.05	)	$	0.72		$	0.26	$	(0.02	)	$	0.24
Diluted	$	0.74		$	(0.04	)	$	0.70		$	0.26	$	(0.03	)	$	0.23
Comprehensive income:	$	50,508		$	(2,682	)	$	47,826		$	11,486	$	(1,415	)	$	10,071

The following table presents the impact of these corrections on affected consolidated balance sheet line items as of December 30, 2017:



	As of December 30, 2017
In thousands	As Previously Reported		Adjustments			As Corrected
Property and equipment, net	$	304,132	$	(1,852	)	$	302,280
Total non-current assets	$	1,421,314	$	(1,852	)	$	1,419,462
Total assets	$	1,583,791	$	(1,852	)	$	1,581,939
Other liabilities	$	46,044	$	4,858		$	50,902
Deferred income taxes, net	$	73,648	$	(1,722	)	$	71,926
Total other non-current liabilities	$	150,914	$	3,136		$	154,050
Retained earnings	$	37,145	$	(4,988	)	$	32,157
Total stockholders’ equity	$	659,588	$	(4,988	)	$	654,600
Total liabilities and stockholders’ equity	$	1,583,791	$	(1,852	)	$	1,581,939

The following table presents the impact of these corrections on affected consolidated statements of cash flows line items for fiscal years ended December 30, 2017 and December 31, 2016:



	Fiscal Year 2017									Fiscal Year 2016
In thousands	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Deferred income tax expense (benefit)	$	(39,734	)	$	(263	)	$	(39,997	)	$	11,181	$	(900	)	$	10,281
Changes in operating assets and liabilities: Other liabilities	$	12,879		$	2,086		$	14,965		$	9,406	$	1,631		$	11,037

Details of Certain Balance Sheet Accounts

12 Months Ended

Dec. 29, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Certain Balance Sheet Accounts



In thousands	As of December 29, 2018			As of December 30, 2017
Accounts receivable, net:
Trade receivables	$	27,356		$	28,862
Credit card receivables	16,636			10,459
Tenant improvement allowances receivable	5,149			4,794
Other receivables	4,206			2,936
Allowance for uncollectible accounts	(2,612		)	(3,858		)
	$	50,735		$	43,193



In thousands	As of December 29, 2018		As of December 30, 2017
Inventories:
Raw materials and work in process ⁽¹⁾	$	59,946	$	43,953
Finished goods	56,076		47,198
	$	116,022	$	91,151
(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.



In thousands	As of December 29, 2018		As of December 30, 2017
Property and equipment, net:
Land and building	$	3,632	$	3,608
Equipment	160,958		136,876
Information systems hardware and software	101,809		83,212
Furniture and fixtures	48,992		42,708
Leasehold improvements	186,499		155,369
Construction in progress	40,697		18,375
Property under capital leases	25,446		11,756
	568,033		451,904
Less accumulated depreciation	212,916		149,624
	$	355,117	$	302,280



In thousands	As of December 29, 2018		As of December 30, 2017
Other payables and accrued expenses:
Employee compensation and benefits	$	20,529	$	21,134
Self-insurance reserves	8,117		6,854
Capital expenditures	14,078		10,782
Advertising	2,076		2,900
Reserves for customer returns and remakes	4,645		4,565
Legacy management and services agreement	5,383		6,000
Fair value of derivative liabilities	3,130		6,969
Supplies and other store support expenses	4,929		3,014
Litigation settlements	3,938		3,942
Other	14,179		11,451
	$	81,004	$	77,611



In thousands	As of December 29, 2018		As of December 30, 2017
Other non-current liabilities:
Fair value of derivative liabilities	$	3,505	$	9,155
Tenant improvements ⁽¹⁾	30,851		25,854
Deferred rental expenses	11,926		9,144
Self-insurance reserves	5,114		4,564
Other	2,568		2,185
	$	53,964	$	50,902
(1) 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. 29, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

During the fourth quarter of fiscal year 2018, as a result of our annual goodwill impairment test, we fully impaired the remaining carrying value of goodwill at Fred Meyer and Military of $11.4 million and $3.7 million, respectively. Management lowered the revenue growth rate assumptions at Fred Meyer and Military resulting in the fair values at these reporting units to be lower than their carrying values. The lower revenue growth rate assumptions at Fred Meyer and Military were primarily the result of recent sales underperformance resulting from decreases in projected customer transaction volume.

Fair value exceeded carrying value by a substantial margin (in excess of 75%) for America’s Best and Eyeglass World. Legacy fair value exceeded carrying value by 21% and represents 8% of consolidated goodwill. No goodwill impairment was identified during fiscal year 2017. A goodwill impairment of $3.3 million was identified at the AC Lens reporting unit for fiscal year 2016.

The gross carrying amount and accumulated impairment of Company’s goodwill balances for 2018 and 2017 are as follows:



	As of December 29, 2018					As of December 30, 2017
In thousands	Gross Carrying Amount		Accumulated Impairment			Gross Carrying Amount		Accumulated Impairment
Owned & Host Segment	$	736,901	$	(19,357	)	$	736,901	$	(4,226	)
Legacy Segment	60,069		—			60,069		—
Corporate/Other	8,107		(8,107		)	8,107		(8,107		)
	$	805,077	$	(27,464	)	$	805,077	$	(12,333	)

No impairment of indefinite-lived or definite-lived intangible assets was identified during fiscal years 2018 and 2017. We recorded impairment of $1.3 million in definite-lived intangible assets during fiscal year 2016 at AC Lens.

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



In thousands	As of December 29, 2018		As of December 30, 2017
Trademarks and trade names:
America's Best	$	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 29, 2018					As of December 30, 2017
In thousands	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)
Contracts and relationships:
Legacy	$	65,000	$	28,359	6	$	65,000	$	22,470	7
Fred Meyer	35,000		7,303		18	35,000		5,787		19
Customer database	4,400		4,224		—	4,400		3,347		1
Other	738		720		—	738		631		1
	$	105,138	$	40,606		$	105,138	$	32,235

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
2019	$	7,598
2020	7,547
2021	7,405
2022	7,405
2023	7,405
Thereafter	27,172
	$	64,532

- 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. 29, 2018

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt consists of the following:



In thousands	As of December 29, 2018			As of December 30, 2017
First Lien - Term Loan B, due November 20, 2024	$	364,300		$	568,575
First Lien - Term Loan A, due October 9, 2023	200,000			—
Total term loans before unamortized discount	564,300			568,575
Unamortized discount	(10,673		)	(11,322		)
Total term loans	553,627			557,253
Less current maturities	(5,000		)	(5,700		)
Term loans - non-current portion	548,627			551,553
Capitalized lease obligations	24,485			11,985
Less current maturities	(2,567		)	(1,558		)
Long-term debt, less current portion and unamortized debt discount	$	570,545		$	561,980

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. "Business and Significant Accounting Policies".

Scheduled annual maturities of debt are as follows:



Fiscal Year	In thousands
2019	$	5,000
2020	5,000
2021	5,000
2022	10,000
2023	175,000
Thereafter	364,300
	$	564,300

First Lien - Term Loan B

On October 31, 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, and letter of credit issuer, and the lenders from time to time party thereto and the other parties thereto (as amended, restated, supplemented or otherwise modified from time to time, the “first lien credit agreement”) was amended pursuant to separate joinder and amendment agreements (collectively, the “Amendments”) to, among other things, (a) establish new first lien term loans (“First Lien - Term Loan B”) 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 20, 2024 and (c) reprice the rates applicable to such term loans by amending the definition of Applicable Margin (as defined in the first lien credit agreement). The Amendments further provide that the Applicable Margins for First Lien - Term Loan B 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 1.50% for ABR Loans, as specified in the Amendments. 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 first lien credit agreement.

First Lien - Term Loan B contains covenants that, among other things, 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.

On September 7, 2018, Moody’s announced that it had upgraded NVI’s public corporate credit rating from B1 to Ba3 (stable) and as a result, the Applicable Margin to LIBOR for this term loan decreased from 2.75% to 2.50%. Additionally, $200.0 million of the proceeds from the issuance of new term loans in the current year as described below, was used to prepay a portion of First Lien - Term Loan B on October 9, 2018. As a result of the $200.0 million prepayment, no required principal payments are due until November 24, 2024.

First Lien - Term Loan A

On October 9, 2018 (the “Closing Date”), our first lien credit agreement, dated as of March 13, 2014 (as amended, the “Credit Agreement”), was amended pursuant to a joinder and amendment agreement (the “October 2018 Joinder”) to, among other things, (i) establish new first lien term loans in an aggregate principal amount of $200.0 million (“First Lien - Term Loan A”) to prepay a portion of First Lien - Term Loan B outstanding immediately prior to the Closing Date, (ii) set the maturity of such term loans to October 9, 2023 and (iii) set the rates applicable to such term loans. Pursuant to the October 2018 Joinder, the initial new Applicable Margins are (i) 1.75% for the new first lien term loans that are LIBOR Loans (as defined in the Credit Agreement) and (ii) 0.75% for the new first lien term loans that are ABR Loans (as defined in the Credit Agreement).

The October 2018 Joinder further provides that following the Closing Date, the above Applicable Margins for First Lien - Term Loan A will be based on either (x) NVI’s total leverage ratio or (y) NVI’s public corporate credit rating from Moody’s and/or NVI’s public corporate credit rating from S&P as follows: (a) if NVI’s total leverage ratio is less than 2.00 to 1.00 or NVI’s rating is either Ba2 (stable) or better from Moody’s or BB (stable) or better from S&P, the Applicable Margin will be 1.25% for LIBOR Loans and 0.25% for ABR Loans, (b) if NVI’s total leverage ratio is equal to or greater than 2.00 to 1.00, but less than 2.50 to 1.00, or NVI’s rating is BB- (stable) from S&P, the Applicable Margin will be 1.50% for LIBOR Loans and 0.50% for ABR Loans and (c) if NVI’s total leverage ratio is equal to or greater than 2.50 to 1.00, the Applicable Margin will be 1.75% for LIBOR Loans and 0.75% for ABR Loans, as specified in the October 2018 Joinder. First Lien - Term Loan A will amortize in equal quarterly installments equal to 2.50% per annum in the first three years of the loan and 5.00% per annum thereafter.

In addition, pursuant to the October 2018 Joinder, solely with respect to the First Lien - Term Loan A, commencing on the fiscal quarter ending on December 29, 2018, the Company will not permit (i) the Consolidated Total Debt to Consolidated EBITDA Ratio (as defined in the Credit Agreement) as of the last day of any fiscal quarter of the Company to be greater than 4.75 to 1.00 or (ii) the Consolidated Interest Coverage Ratio (as defined in the Credit Agreement) of the Company as of the last day of any fiscal quarter of the Company to be less than 3.00 to 1.00.

First Lien - Revolving Credit Facility

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 2.00% over ABR or 3.00% 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 2018 are as follows:



	Fiscal Year	In thousands
	2019	$	5,786
	2020	5,500
	2021	5,395
	2022	5,324
	2023	4,346
	Thereafter	13,062
Total minimum lease payments		39,413
Less: Amount representing interest		(14,928		)
Present value of net minimum lease payments		24,485
Less: Current maturities of capital lease obligations		(2,567		)
Capital lease obligations - non-current portion		$	21,918

Stock Incentive Plans

12 Months Ended

Dec. 29, 2018

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 2018 are expected to vest. Service-based and performance-based options have a contractual maturity of 10 years.

There were 10,988,827 stock options authorized for issuance pursuant to the 2014 Stock Incentive Plan, of which 6,618,288 are issued and outstanding, and 468,975 are authorized but unissued as of fiscal year end 2018.

Performance-based awards under the 2014 Stock Incentive Plan

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. Compensation expense of $16.1 million and $0.4 million was recorded during fiscal years 2018 and 2017, respectively, from the achievement of vesting conditions resulting from secondary offerings previously discussed in Note 1. “Business and Significant Accounting Policies.” No compensation expense was recorded relating to performance-based options for fiscal year 2016 since achievement of vesting conditions was not considered probable. Secondary offerings also resulted in $7.0 million of cash compensation expense associated with a non-executive long-term incentive plan for fiscal year 2018, which is included in SG&A in the accompanying statement of operations.

The following table summarizes performance-based stock option activity:



	Number of Options Outstanding		Weighted Average Exercise Price ($)	Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding options at December 30, 2017	6,524,152		6.07
Exercised	(2,051,033	)	5.87
Forfeited	(329,338	)	5.33
Outstanding options at December 29, 2018	4,143,781		6.23	5.91	$	94,291
Vested and exercisable at December 29, 2018	1,737,952		5.87	5.79	$	40,172

There were no grants of performance-based options during fiscal year 2018. The weighted average grant date fair value of performance-based options granted during fiscal years 2017 and 2016 was $3.68 and $3.49, respectively. The fair value of performance-based options vested during fiscal years 2018 and 2017 was $16.1 million and $0.4 million, respectively. No vesting of performance-based options occurred during fiscal year 2016. The aggregate intrinsic value of performance-based options exercised during fiscal year 2018 was $70.2 million. No performance-based options were exercised during fiscal years 2017 and 2016.

The grant date fair value of performance-based shares was estimated using Monte Carlo simulation assuming expected term range of 2.37 to 5.00 years, expected volatility range of 46.9% to 65.8% and expected risk free interest rate of 1.19% to 1.51%.

Service-based awards under the 2014 Stock Incentive Plan

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 Company recorded $3.1 million, $4.4 million and $4.3 million of compensation expense associated with service-based stock options in SG&A in the accompanying consolidated statements of operations during fiscal years 2018, 2017 and 2016, respectively.

The following table summarizes service-based stock option activity (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 December 30, 2017	3,822,915		7.22
Exercised	(1,278,223	)	5.67
Forfeited	(70,185	)	7.42
Outstanding options at December 29, 2018	2,474,507		8.02	6.26	$	51,877
Vested and exercisable at December 29, 2018	1,212,053		7.35	5.81	$	26,219

There were no grants of service-based options during fiscal year 2018. The weighted average grant date fair value of service-based options granted during fiscal years 2017 and 2016 was $9.01 and $8.58, respectively. The fair value of service-based options vested during fiscal years 2018, 2017 and 2016 was $5.6 million, $4.6 million and $4.3 million, respectively. The aggregate intrinsic value of service-based options exercised during fiscal years 2018, 2017 and 2016 was $39.6 million, $1.5 million and $0.3 million, respectively.

As of December 29, 2018, unrecognized compensation cost related to nonvested shares is $2.7 million expected to be recognized over 1.70 years.

The fair value of service-based stock option grants was estimated at the grant date using the Black-Scholes-Merton option pricing model with assumed expected term of 6.5 years, expected volatility of 60.4% and risk free interest rate of 1.6% to 2%.

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.

Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan

As of December 30, 2017 there were 169,049 options outstanding with a maximum contractual life of 10 years. During fiscal year ended December 29, 2018, there were 152,619 options exercised under the Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan at a weighted average exercise price of $1.66 and an intrinsic value of $6.1 million. As of fiscal year end 2018, there were 16,430 options remaining that are vested and outstanding at a weighted average exercise price of $1.66, a weighted average remaining contractual life of 5.20 years and an intrinsic value of $0.5 million. There was no expense associated with these options for fiscal years 2018, 2017 and 2016 since the options were fully vested prior to fiscal year 2016.

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”) in October 2017. The total number of shares of common stock that may be issued under the plan is 4,000,000. The plan authorizes the grant of 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. The maximum contractual period of shares granted under the plan is 10 years.

During fiscal year 2017, we granted stock options to purchase 92,443 shares of our common stock at an exercise price of $22.00 per share to a named executive officer. The grant date fair value of the award was $0.8 million, with three year vesting. Fair value of the awards is calculated on a straight-line basis. The expense associated with this grant is recorded in SG&A in the consolidated statements of operations and was $0.3 million and $0.1 million for fiscal years 2018 and 2017, respectively. As of fiscal year end 2018, the options have a remaining contractual life of 8.82 years, an intrinsic value of $0.6 million, and remaining unrecognized service cost of $0.5 million. The remaining requisite service period is 1.82 years. All of the options remain outstanding and the intrinsic value of the 30,814 options that have vested is $0.2 million.

During fiscal year 2017, we granted an aggregate of 182,138 restricted stock units, net of forfeitures, at a weighted average exercise price of $22.00, to certain employees. These restricted stock units include 59,800 restricted stock units that vest in two equal installments on the first and second anniversaries of the grant date, and 122,338 restricted stock units that vest in three equal installments on the first, second and third anniversaries of the grant date. The aggregate grant date fair value of the awards was $4.0 million. During fiscal year 2018, 63,872 and 20,190 restricted stock units had vested and forfeited, respectively. The expense associated with restricted stock units is recorded in SG&A in the consolidated statements of operations and was $1.4 million and $0.3 million for fiscal years 2018 and 2017, respectively. The remaining weighted average requisite service period of outstanding restricted stock units was 1.51 years, and the remaining unrecognized service cost was $2.3 million.

During fiscal year 2018, we granted an aggregate of 7,193 restricted stock awards, to certain directors under the 2017 Omnibus Incentive Plan. The awards vest proportionally over three years. The aggregate grant date fair value of the awards, based on the stock price on the date of grant, was $0.3 million for fiscal year 2018. As of fiscal year end 2018, the intrinsic value of the awards was $0.1 million, the remaining unrecognized service cost was $0.2 million and the remaining requisite service period was 2.40 years.

Associate Stock Purchase Plan

On June 6, 2018, the Company’s Board of Directors adopted, and its stockholders approved, the National Vision Holdings, Inc. 2018 Associate Stock Purchase Plan (the “ASPP”). The ASPP provides that up to 850,000 shares of common stock, at par value of $0.01 per share, may be offered and issued under the ASPP. During fiscal year 2018, the compensation cost related to the plan was not material.

Income Taxes

12 Months Ended

Dec. 29, 2018

Income Tax Disclosure [Abstract]

Income Taxes

The income tax provision (benefit) consists of:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Current income tax:
Federal	$	174		$	5		$	51
State	381			1,082			1,302
Deferred income tax:
Federal	(15,687		)	(40,136		)	9,243
State	(3,653		)	139			1,038
Income tax provision (benefit)	$	(18,785	)	$	(38,910	)	$	11,634

Our income tax provision (benefit) 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 2018			Fiscal Year 2017			Fiscal Year 2016
Federal income tax provision at statutory rate	$	1,022		$	1,480		$	8,742
State income tax provision, net of federal income tax	226			165			973
Increase in deferred tax asset valuation allowance	318			769			979
Goodwill impairment	3,879			—			—
Benefit of tax legislation	—			(42,089		)	—
Tax benefit of equity-based compensation deductions	(25,544		)	—			—
Other, net	1,314			765			940
Net income tax provision (benefit)	$	(18,785	)	$	(38,910	)	$	11,634
Effective income tax rate	(385.9		)%	(920.3		)%	46.6		%

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 $42.1 million due to a re-measurement of deferred tax assets and liabilities in fiscal year 2017.

Pursuant to SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Legislation, the Company recognized provisional effects of the enactment of the 2017 Tax Legislation for which measurement could be reasonably estimated as of fiscal year end 2017. As of fiscal year end 2018, the Company recorded adjustments to the provisional estimates related to depreciation expense. The adjustments to the provisional estimates of December 30, 2017 did not materially impact the effective tax rate of the Company during fiscal year 2018.

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 29, 2018			As of December 30, 2017
Deferred tax assets:
NOL carry-forwards	$	13,614		$	6,278
Deferred interest expense carry-forwards	4,655			—
AMT payment and employment credits	4,679			3,741
Deferred revenue	4,984			7,643
Accrued expenses and reserves	11,370			14,178
Loss on equity and other investments	1,493			1,175
Stock option compensation	5,893			6,606
Unrealized losses on hedging instruments	1,700			4,130
Other	1,193			4,222
Subtotal	49,581			47,973
Valuation allowances	1,614			1,296
Total net deferred tax assets	47,967			46,677
Deferred tax liabilities:
Depreciation of property and equipment	(32,631		)	(37,877		)
Amortization of intangible assets	(75,422		)	(78,329		)
Other	(1,854		)	(2,397		)
Total deferred tax liabilities	(109,907		)	(118,603		)
Net deferred tax liabilities	$	(61,940	)	$	(71,926	)

As of fiscal year end 2018, we had available U.S. federal NOL carry-forwards aggregating to $55.8 million that can be utilized to reduce future federal income taxes. The Company has $37.7 million of carry-forward losses that do not expire and $5.1 million, $3.3 million and $9.7 million of carry-forward losses expiring at the end of fiscal year 2019, 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 2018, we also have non-expiring federal and state AMT carry-forward credits and employment credits totaling $4.7 million available to offset certain future taxes.

We have a $1.3 million deferred income tax asset on losses associated with our equity method non-consolidated investee and a $0.2 million deferred income tax asset for capital losses associated with the impairment of an investment recorded during fiscal year 2017. 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 2018 remain open for examination by the tax authorities. We had no uncertain tax positions or unrecognized tax benefits as of fiscal years 2018 and 2017.

Revenue From Contracts With Customers

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

The majority of our annual revenues are recognized either at the point of sale or upon delivery and customer acceptance, paid for at the time of sale in cash, credit card, or on account with managed care payors having terms generally between 14 and 120 days, with most paying within 90 days. For sales of in-store non-prescription eyewear and related accessories, and paid eye exams, we recognize revenue at the point of sale. Our point in time revenues include 1) retail sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers (including those covered by managed care), 2) eye exams and 3) wholesale sales of inventory in which our customer is another retail entity. Revenues recognized over time primarily include product protection plans, eyecare club memberships and management fees earned from our legacy partner.

Revenues Recognized at a Point in Time

Owned & Host

Within our owned & host segment, product revenues include sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers.

For sales of in-store non-prescription eyewear and related accessories, we recognize revenue at the point of sale. For sales of prescription eyewear, we recognize revenue when the performance obligations identified under the terms of contracts with our customers are satisfied, which generally occurs, for products, when those products have been delivered and accepted by our customers. Within our owned & host segment services and plans revenues, eye exam services sold on a stand-alone basis are also recognized at the point of sale which occurs immediately after the exam is performed.

Legacy

Within our legacy segment, product revenues include sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers in transactions where the retail customer uses a managed-care payor; and wholesale sales of the same inventory types to the legacy partner.

The revenue recognition for the retail sales are identical to similar sales in the owned & host segment.

Wholesale sales of inventory to the legacy partner are recognized at the point in time when control of the inventory has been transferred in accordance with the contractual terms and conditions of sale. Since the wholesale sales of inventory to the legacy partner are a separate performance obligation in our management and services agreement with the legacy partner, we considered the appropriate allocation of consideration to wholesale inventory sales. We concluded that the difference between the stand-alone-selling price of the wholesale inventory and the contractual prices was not material.

Within our legacy segment services and plans revenues, eye exam services sold to retail customers are recognized at the point of sale which occurs immediately after the exam is performed.

Corporate/Other

Revenues from our non-reportable Corporate/Other segment are attributable to wholly owned subsidiaries AC Lens and FirstSight. AC Lens sells contact lenses and optical accessory products to retail customers through e-commerce. AC Lens also distributes contact lenses at its cost to Walmart and Sam’s Club under fee for services arrangements, reports revenue on a gross basis and is the principal in the arrangement since AC Lens controls the products in those transactions before the products are transferred to the customer.

FirstSight issues individual vision care benefit plans in connection with our America’s Best operations in California, and provides or arranges for the provision of optometric services at certain optometric offices next to Walmart and Sam’s Club stores in California.

Revenues Recognized Over Time

Owned & Host

Within our owned & host segment, services and plans revenues include revenues from product protection plans (i.e. warranties), eyecare club memberships and HMO membership fees. We offer extended warranty plans in our owned & host segment that generally provide for repair and replacement of eyeglasses for primarily a one-year term after purchase. We recognize service revenue under these programs on a straight-line basis over the warranty or service period which is consistent with our efforts expended to satisfy the obligation. We offer three- or five-year eyecare club memberships in our owned & host segment to our contact lens customers. For these programs we apply the portfolio approach of recognizing revenues of contracts with similar characteristics and use estimates and assumptions that reflect the size and composition of the portfolio of contracts. We selected the portfolio approach because our historical club

membership data demonstrate that our club customers behave similarly, such that the difference between the portfolio approach and calculating revenue of each individual contract is not material. We recognize revenue across the contract portfolio based on the value delivered to the customers relative to the remaining services promised under the programs. We determine the value delivered based on the expected timing and amount of customer usage of benefits over the terms of the contracts. The unamortized portion of amounts we collect in advance for these services and plans are reported as deferred revenue (current and non-current portions) in the accompanying consolidated balance sheets.

Legacy

Sales of services and plans in our legacy segment include fees earned for managing the operations of our legacy partner. These fees are recorded on a net basis and are based primarily on sales of products and product protection plans to non-managed care customers. We determined that under the terms of the arrangement our legacy partner controls the products and services in the transaction with the retail customer and therefore we act as the agent in those transactions. We recognize this service revenue using the “right to invoice” method because our right to payment corresponds directly with the value of the management services provided to our legacy partner.

The following disaggregation of revenues depicts our revenues based on the timing of revenue recognition:



In thousands	Fiscal Year 2018
Revenues recognized at a point in time	$	1,397,801
Revenues recognized over time	139,053
Total net revenue	$	1,536,854

Refer to Note 15."Segment Reporting" for the Company’s disaggregation of net revenue by reportable segment and product type. As the reportable segments are aligned by similar economic factors, trends and customers, the reportable segment disaggregation view best depicts how the nature, amount and uncertainty of revenue and cash flows are affected by economic factors.

following depicts a roll-forward of deferred revenue:



	Fiscal Year 2018
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	26,731		$	67,430		$	54		$	94,215
Adjustment for adoption of ASU 2014-09	—			(25,776		)	—			(25,776		)
Beginning of the year - As Adjusted	26,731			41,654			54			68,439
Sold	58,860			47,923			1,384			108,167
Revenue recognized	(56,816		)	(46,089		)	(1,423		)	(104,328		)
End of year	$	28,775		$	43,488		$	15		$	72,278

Current	$	28,403		$	23,726		$	15		$	52,144
Non-current	372			19,762			—			20,134
	$	28,775		$	43,488		$	15		$	72,278

	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

Deferred revenue recorded as of fiscal year end 2018 is expected to be reflected in future operating results as follows:



Fiscal Year	In thousands
2019	$	52,144
2020	15,029
2021	4,840
2022	204
2023	61
	$	72,278

Related Party Transactions

12 Months Ended

Dec. 29, 2018

Related Party Transactions

Transactions with KKR Sponsor and Berkshire

During the fiscal year 2018, KCM acted as a lead arranger with respect to the joinder and amendment agreement, dated as of October 9, 2018, relating to the first lien credit agreement, and received $1.2 million in fees in connection therewith.

Under certain agreements we have entered into with KKR Sponsor and Berkshire, we recorded the following expenses:



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
KKR Sponsor	$	—	$	7,259	$	851
Berkshire	$	—	$	955	$	199

Fees paid to KKR Sponsor and Berkshire 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. “Business and Significant Accounting Policies.”

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 Investee

12 Months Ended

Dec. 29, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity in Net Assets of Non-Consolidated Investee

From time to time the Company invests in technological innovators across the optical retail industry. One of these investments is a nonconsolidated investee (the “investee”) 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 our investee’s operations and financial affairs. We hold a 28% equity interest in our investee as of fiscal year end 2018.

Revenues and expenses of the investee are not consolidated into our financial statements; rather, our proportionate share of the earnings or losses of the investee 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 investee because, although it is a variable interest entity, we are not the primary beneficiary. After adjusting the carrying value of our interest in the investee’s reported net losses, our investment balance in the business was $1.0 million and $2.3 million at the end of fiscal years 2018 and 2017, respectively, which is included in other assets in the accompanying consolidated balance sheets.

The Company’s fiscal year end for 2018 was December 29, 2018, while our investee’s year end date was December 31, 2018. The Company’s fiscal year end for 2017 was December 30, 2017. Our investee’s year end date was December 31, 2017. No material transactions occurred from December 29, 2018 to December 31, 2018 or on December 31, 2017, requiring adjustment to our investee's or our results as presented in the tables below.

Summarized balance sheet information for our investee is as follows:



In thousands	As of December 29, 2018			As of December 30, 2017
Current assets	$	2,197		$	2,407
Non-current assets	558			557
Total assets	2,755			2,964

Current liabilities	6,321			1,046
Non-current liabilities	3,000			3,000
Total liabilities	9,321			4,046

Net assets	$	(6,566	)	$	(1,082	)

Summarized income statement information for our investee is as follows:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Revenues	$	3,871		$	6,244		$	5,847
Net loss	$	(5,632	)	$	(3,433	)	$	(4,153	)
National Vision’s share of net loss	$	(1,304	)	$	(1,001	)	$	(1,370	)

In the ordinary course of business we are a licensee of our investee. Additionally, on August 29, 2017, the investee 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 each calendar year, which is 0.75% as of December 29, 2018 and is included in other assets in the accompanying consolidated balance sheets.

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



In thousands	As of December 29, 2018		As of December 30, 2017
Balance sheets
Prepaid expenses and other current assets	$	—	$	172
Other assets ⁽¹⁾	$	1,522	$	1,518
(1) Other assets include loan receivable of $1.5 million as of December 29, 2018 and December 30, 2017.



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
Statements of operations
Licensing fees (SG&A)	$	172	$	955	$	987

Fair Value Measurement of Financial Assets and Liabilities

12 Months Ended

Dec. 29, 2018

Fair Value Disclosures [Abstract]

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 impact 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 Agreement

Our long-term debt is 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 long term debt was $556.1 million and $570.2 million as of fiscal year end 2018 and 2017, respectively, compared to carrying values of $553.6 million and $557.3 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 $30.7 million and $14.0 million as of fiscal year end 2018 and 2017, respectively, compared to carrying values of $24.5 million and $12.0 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 13. “Interest Rate Derivatives” for further details.

Deferred Revenue

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Deferred Revenue

Revenues Recognized at a Point in Time

Owned & Host

Within our owned & host segment, product revenues include sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers.

Legacy

The revenue recognition for the retail sales are identical to similar sales in the owned & host segment.

Within our legacy segment services and plans revenues, eye exam services sold to retail customers are recognized at the point of sale which occurs immediately after the exam is performed.

Corporate/Other

Revenues Recognized Over Time

Owned & Host

Legacy

The following disaggregation of revenues depicts our revenues based on the timing of revenue recognition:



In thousands	Fiscal Year 2018
Revenues recognized at a point in time	$	1,397,801
Revenues recognized over time	139,053
Total net revenue	$	1,536,854

following depicts a roll-forward of deferred revenue:



	Fiscal Year 2018
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	26,731		$	67,430		$	54		$	94,215
Adjustment for adoption of ASU 2014-09	—			(25,776		)	—			(25,776		)
Beginning of the year - As Adjusted	26,731			41,654			54			68,439
Sold	58,860			47,923			1,384			108,167
Revenue recognized	(56,816		)	(46,089		)	(1,423		)	(104,328		)
End of year	$	28,775		$	43,488		$	15		$	72,278

Current	$	28,403		$	23,726		$	15		$	52,144
Non-current	372			19,762			—			20,134
	$	28,775		$	43,488		$	15		$	72,278

	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

Deferred revenue recorded as of fiscal year end 2018 is expected to be reflected in future operating results as follows:



Fiscal Year	In thousands
2019	$	52,144
2020	15,029
2021	4,840
2022	204
2023	61
	$	72,278

Commitments and Contingencies

12 Months Ended

Dec. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

Total rental expenses related to operating leases were approximately $89.6 million, $79.2 million and $71.3 million in the fiscal years ended 2018, 2017 and 2016, respectively. Total rental expense includes percentage rent of approximately $5.8 million, $6.1 million and $6.3 million during the fiscal years ended 2018, 2017 and 2016, respectively.

As of fiscal year end 2018, aggregate future minimum rental payments under our operating leases are as follows:



Fiscal Year	In thousands
2019	$	69,372
2020	63,218
2021	56,219
2022	49,303
2023	42,545
Thereafter	126,388
	$	407,045

The future minimal rental payments above do not include amounts for variable executory costs such as insurance, real estate taxes and common area maintenance. These costs were approximately $18.0 million, $14.9 million and $13.9 million during fiscal years ended 2018, 2017 and 2016, respectively.

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. As of fiscal year end 2018, $3.3 million of fees remain unpaid over the remaining term of the agreement. Minimum purchase commitments with our trade vendors represent a small portion of our costs applicable to revenue at approximately $8.0 million annually through 2023.

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 2018			Fiscal Year 2017
Beginning of year balance	$	1,593		$	1,343
Accrued obligation	29,943			26,806
Claims paid	(29,794		)	(26,556		)
End of year balance	$	1,742		$	1,593

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 $4.2 million, $3.1 million and $2.6 million in the fiscal years ended 2018, 2017 and 2016, 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 filed an appeal to the U.S. Court of Appeals for the Ninth Circuit in April 2017. In July 2018, the U.S. Court of Appeals for the Ninth Circuit vacated in part, and reversed in part, the district court’s dismissal and remanded for further proceedings. In October 2018, the plaintiffs filed a second amended complaint with the district court and in November 2018, FirstSight filed a motion to dismiss. The Company believes that the claims are without merit and intends to continue 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.

Interest Rate Derivatives

12 Months Ended

Dec. 29, 2018

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 credit agreements. During the first quarter of 2018, in accordance with the original agreements with the counterparties, the notional amount of the first derivative decreased from $175 million to $140 million. There were no other changes in the terms of the arrangements. The fixed rates associated with the first derivative (“Derivative 1”) notional amount of $140.0 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 hedges have been deemed effective since inception as a result of our quarterly hedge effectiveness testing.

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 ⁽¹⁾
As of December 30, 2017	$	500,000	March 2021	$	6,969	$	9,155	$	9,868
As of December 29, 2018	$	465,000	March 2021	$	3,130	$	3,505	$	2,810
(1) Includes stranded income tax benefit of $2.1 million within AOCL from adopting provisions of the Tax Legislation of 2017 during the year ended December 30, 2017.

As of December 29, 2018, the Company expects to reclassify $2.3 million of AOCL into earnings in the next 12 months. See Note 16. “Accumulated Other Comprehensive Loss” for further detail regarding AOCL.

Earnings Per Share

12 Months Ended

Dec. 29, 2018

Earnings Per Share [Abstract]

Earnings Per Share

ic 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 vesting and 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 2018		Fiscal Year 2017		Fiscal Year 2016
Net income	$	23,653	$	43,138	$	13,343
Weighted average shares outstanding for basic EPS	75,899		59,895		56,185
Effect of dilutive securities:
Stock options	3,129		2,140		817
Restricted Stock	13		—		—
Weighted average shares outstanding for diluted EPS	79,041		62,035		57,001
Basic EPS	$	0.31	$	0.72	$	0.24
Diluted EPS	$	0.30	$	0.70	$	0.23
Anti-dilutive options outstanding excluded from EPS	—		254		88

Segment Reporting

12 Months Ended

Dec. 29, 2018

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. 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 processing for the finished eyeglasses and frames expected to be sold to 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 2018, sales associated with our legacy partner arrangement represented 10.0% 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 for our managed care customers. Revenues associated with managing operations of our legacy partner were $34.7 million, $36.7 million and $38.3 million for fiscal years ended 2018, 2017 and 2016, respectively. Our management & services agreement also allows our legacy partner to collect penalties if the Vision Centers do not generate a requisite amount of revenues. No such penalties have been assessed under our current arrangement.

The “Corporate/Other” category includes the results of operations of our other operating segments 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. AC Lens primarily sells contact lenses and optical accessory products to retail customers through e-commerce. AC Lens also distributes contact lenses to certain Walmart and Sam’s Club under fee for services arrangements. FirstSight sells single service health plans in connection with the operations of America’s Best operations in California, and arranges for the provision of optometric services at the offices next to Walmart and Sam’s Club stores throughout California. 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”), or net revenue, less costs applicable to revenue, less selling, general and administrative costs. Depreciation and amortization, asset impairment, litigation settlement and other corporate costs that are not allocated to the reportable segments, including interest expense and debt issuance costs are excluded from segment EBITDA. 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, including point of sales for managed care payors and 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.



	Fiscal Year 2018
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	956,355	$	103,890	$	208,875		$	492		$	1,269,612
Segment services and plans revenues	217,047		50,522		3,552			(3,879		)	267,242
Total net revenue	1,173,402		154,412		212,427			(3,387		)	1,536,854
Cost of products	280,720		46,986		183,459			241			511,406
Cost of services and plans	178,362		20,272		3,531			—			202,165
Total costs applicable to revenue	459,082		67,258		186,990			241			713,571
SG&A	457,618		54,091		175,767			—			687,476
Asset impairment	—		—		17,630			—			17,630
Debt issuance cost	—		—		200			—			200
Other expense, net	—		—		1,487			—			1,487
EBITDA	$	256,702	$	33,063	$	(169,647	)	$	(3,628	)	$	116,490
Depreciation and amortization											74,339
Interest expense, net											37,283
Income before income taxes											$	4,868



	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	403,848		52,705		143,457			—			600,010
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	$	232,480	$	36,238	$	(138,523	)	$	(8,457	)	$	121,738
Depreciation and amortization											61,974
Interest expense, net											55,536
Income before income taxes											$	4,228



	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	345,469		52,925		127,475			—			525,869
Asset impairment	—		—		7,132			—			7,132
Other expense, net	—		—		1,667			—			1,667
EBITDA	$	203,827	$	39,678	$	(113,913	)	$	(12,846	)	$	116,746
Depreciation and amortization											52,677
Interest expense, net											39,092
Income before income taxes											$	24,977

Consolidated Net Product Revenue Information

The following table presents our consolidated net product revenue information:



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
Net Product Sales
Eyeglasses and sunglasses	$	851,328	$	763,268	$	663,253
Contact lenses	410,839		358,808		310,322
Accessories and other	7,445		7,237		7,378
Total net product revenues	$	1,269,612	$	1,129,313	$	980,953

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 29, 2018

Equity [Abstract]

Accumulated Other Comprehensive Loss

h flow hedge derivative instruments are recorded in AOCL. Amounts reclassified from AOCL to earnings are included in interest expense, net in the accompanying consolidated statements of operations.

The following table presents the change in AOCL, net of tax during the fiscal years 2018, 2017 and 2016, respectively:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Cash flow hedging activity
Balance at beginning of fiscal year	$	(9,868	)	$	(14,556	)	$	(11,284	)
Other comprehensive income (loss) before reclassification	3,182			(1,051		)	(5,116		)
Tax effect of other comprehensive income (loss) before reclassification	(815		)	436			1,844
Amount reclassified from AOCL	6,306			8,664			—
Tax effect of amount reclassified from AOCL	(1,615		)	(3,361		)	—
Net current period other comprehensive income (loss), net of tax	7,058			4,688			(3,272		)
Balance at end of fiscal year	$	(2,810	)	$	(9,868	)	$	(14,556	)

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

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 2018
In thousands, except EPS	Fourth Quarter Ended December 29, 2018			Third Quarter Ended September 29, 2018			Second Quarter Ended June 30, 2018		First Quarter Ended March 31, 2018
Total net revenue	$	355,922		$	387,425		$	385,532	$	407,975
Total costs applicable to revenue	$	173,470		$	182,588		$	177,059	$	180,454
Income (loss) from operations	$	(19,387	)	$	(2,083	)	$	24,973	$	38,848
Net income (loss)	$	(18,440	)	$	5,171		$	12,467	$	24,455
Weighted-average shares used in computing basic EPS	77,526			76,118			75,249		74,714
Weighted-average shares used in computing diluted EPS	77,526			79,710			77,858		77,837
Basic EPS	$	(0.24	)	$	0.07		$	0.17	$	0.33
Diluted EPS	$	(0.24	)	$	0.06		$	0.16	$	0.31
Anti-dilutive options outstanding excluded from EPS	3,130			—			—		—



	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
Total costs applicable to revenue	$	152,393		$	162,358	$	156,408		$	165,808
Income (loss) from operations	$	(3,606	)	$	15,816	$	13,059		$	39,022
Net income (loss)	$	27,341		$	1,089	$	(1,933	)	$	16,641
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	$	0.39		$	0.02	$	(0.03	)	$	0.30
Diluted EPS	$	0.37		$	0.02	$	(0.03	)	$	0.29
Anti-dilutive options outstanding excluded from EPS	—			—		2,036			218

Condensed Financial Information of the Registrant

12 Months Ended

Dec. 29, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

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 29, 2018			As of December 30, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	246		$	23
Total current assets	246			23

Deferred income taxes	393			304
Investment in subsidiary	745,198			654,548
Total non-current assets	745,591			654,852
Total assets	$	745,837		$	654,875

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Other current liabilities	$	65		$	46

Non-current liabilities:
Other non-current liabilities	2,618			229

Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 78,246 and 74,654 shares issued as of December 29, 2018 and December 30, 2017, respectively; 78,167 and 74,654 shares outstanding as of December 29, 2018 and December 30, 2017, respectively	782			746
Additional paid-in capital	672,503			631,798
Accumulated other comprehensive loss	(2,810		)	(9,868		)
Retained earnings	74,840			32,157
Treasury stock, at cost; 79 and 28 shares as of December 29, 2018 and December 30, 2017, respectively	(2,161		)	(233		)
Total stockholders’ equity	743,154			654,600
Total liabilities and stockholders’ equity	$	745,837		$	654,875

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

In Thousands



	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Total net revenue	$	—		$	—		$	—
Cost applicable to revenue	—			—			—
Operating expenses	265			218			195
Loss before income taxes	(265		)	(218		)	(195		)
Income tax benefit	(91		)	(85		)	(76		)
Loss before equity in net income of subsidiaries	(174		)	(133		)	(119		)
Net income of subsidiaries	23,827			43,271			13,462
Net income	$	23,653		$	43,138		$	13,343

Comprehensive income:
Net income	23,653			43,138			13,343
Unrealized gain (loss) on hedge instruments	9,488			7,613			(5,116		)
Tax provision (benefit) of unrealized gain (loss) on hedge instruments	2,430			2,925			(1,844		)
Comprehensive income	$	30,711		$	47,826		$	10,071

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 2018			Fiscal Year 2017			Fiscal Year 2016
Operating Activities
Net cash provided by (used for) operating activities	$	223		$	11		$	(564	)
Investing Activities
Dividend from subsidiary	—			170,983			167
Investment in subsidiary	(19,802		)	(373,024		)	(884		)
Net cash provided by (used for) investing activities	(19,802		)	(202,041		)	(717		)
Financing Activities
Proceeds from stock option exercises and employee stock purchase plan	19,802			1,092			915
Proceeds from sale of common stock	—			371,932			—
Dividend to stockholders	—			(170,983		)	—
Other	—			—			(387		)
Net cash provided by (used for) financing activities	19,802			202,041			528
Net change in cash and cash equivalents	223			11			(753		)
Cash and cash equivalents, beginning of year	23			12			765
Cash and cash equivalents, end of year	$	246		$	23		$	12

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.

Certain prior amounts have been revised to correct the effect of immaterial errors related to lease accounting. See further discussion in the “Correction of Errors in Previously Issued Financial Statements” section of Note 1. Business and Significant Accounting Policies” of the accompanying 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 and Secondary Public Offerings section included in Note 1. “Business and Significant Accounting Policies,” 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 Loan B and accrued and unpaid interest thereon. As of December 29, 2018, NVI had $564.3 million of principal amount of long-term debt outstanding under its first lien credit agreement. 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 2018, NVI had no outstanding revolving loan obligations and had $5.5 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. 29, 2018

Accounting Policies [Abstract]

Fiscal Year

Basis of Presentation and Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Accounts Receivable, Net

Inventories

Prepaid Expenses and Other Current Assets

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
Equipment	5 - 7 years
Information systems hardware and software ^(a)	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(b)	10 years
P&E under capital leases ^(b)	10 years
____________
(a) 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 information systems hardware and software.
(b) Depreciation of 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.

Goodwill and Intangible Assets

Equity Method Investment

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

Deferred Financing Costs and Loan Discounts

Self-Insurance Accruals

Derivative Financial Instruments

Accumulated Other Comprehensive Loss

Revenue Recognition and Costs Applicable to Revenue

Revenue Recognition

Refer to Note 7. “Revenue from Contracts With Customers” for further details of our revenues.

Costs Applicable To Revenue

Selling, General and Administrative Expenses

Leases

Stock-Based Compensation

Impairment of P&E, Goodwill and Intangible Assets

Impairment of P&E

Income Taxes

Recently Issued Accounting Pronouncements

Adoption of New Accounting Pronouncements



In thousands	With ASC 606 Adoption		Without ASC 606 Adoption		Impact of Adoption
Current liabilities:
Deferred revenue	$	52,144	$	67,435	$	(15,291	)
Total current liabilities	$	211,652	$	226,943	$	(15,291	)
Other non-current liabilities:
Deferred revenue	$	20,134	$	31,926	$	(11,792	)
Deferred income taxes, net	$	61,940	$	55,002	$	6,938
Total other non-current liabilities	$	136,038	$	140,892	$	(4,854	)
Stockholders' equity:
Retained earnings	$	74,840	$	54,695	$	20,145
Total stockholders' equity	$	743,154	$	723,009	$	20,145

The following table summarizes the impact of adoption on the Company’s consolidated statement of operations for the year ended December 29, 2018:



In thousands, except earnings per share	With ASC 606 Adoption			Without ASC 606 Adoption			Impact of Adoption
Revenue:
Net sales of services and plans	$	267,242		$	265,935		$	1,307
Total net revenue	$	1,536,854		$	1,535,547		$	1,307
Income from operations	$	42,351		$	41,044		$	1,307
Earnings before income taxes	$	4,868		$	3,561		$	1,307
Income tax provision (benefit)	$	(18,785	)	$	(19,119	)	$	334
Net income	$	23,653		$	22,680		$	973
Earnings per share:
Basic	$	0.31		$	0.30		$	0.01
Diluted	$	0.30		$	0.29		$	0.01

There were no other material impacts on our consolidated financial statements as a result of our adoption of this new guidance.

Future Adoption of Accounting Pronouncements

Correction of Errors in Previously Issued Financial Statements

The correction of the errors resulted in a $0.9 million increase in accumulated deficit as of January 2, 2016.



	Fiscal Year 2017									Fiscal Year 2016
In thousands, except earnings per share	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Operating Expenses:
Selling, general and administrative expenses	$	597,924		$	2,086		$	600,010		$	524,238	$	1,631		$	525,869
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Total operating expenses	$	671,106		$	2,945		$	674,051		$	585,030	$	2,315		$	587,345
Income from operations	$	67,236		$	(2,945	)	$	64,291		$	66,384	$	(2,315	)	$	64,069
Earnings before income taxes	$	7,173		$	(2,945	)	$	4,228		$	27,292	$	(2,315	)	$	24,977
Income tax provision (benefit)	$	(38,647	)	$	(263	)	$	(38,910	)	$	12,534	$	(900	)	$	11,634
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Earnings per share:
Basic	$	0.77		$	(0.05	)	$	0.72		$	0.26	$	(0.02	)	$	0.24
Diluted	$	0.74		$	(0.04	)	$	0.70		$	0.26	$	(0.03	)	$	0.23
Comprehensive income:	$	50,508		$	(2,682	)	$	47,826		$	11,486	$	(1,415	)	$	10,071

The following table presents the impact of these corrections on affected consolidated balance sheet line items as of December 30, 2017:



	As of December 30, 2017
In thousands	As Previously Reported		Adjustments			As Corrected
Property and equipment, net	$	304,132	$	(1,852	)	$	302,280
Total non-current assets	$	1,421,314	$	(1,852	)	$	1,419,462
Total assets	$	1,583,791	$	(1,852	)	$	1,581,939
Other liabilities	$	46,044	$	4,858		$	50,902
Deferred income taxes, net	$	73,648	$	(1,722	)	$	71,926
Total other non-current liabilities	$	150,914	$	3,136		$	154,050
Retained earnings	$	37,145	$	(4,988	)	$	32,157
Total stockholders’ equity	$	659,588	$	(4,988	)	$	654,600
Total liabilities and stockholders’ equity	$	1,583,791	$	(1,852	)	$	1,581,939

The following table presents the impact of these corrections on affected consolidated statements of cash flows line items for fiscal years ended December 30, 2017 and December 31, 2016:



	Fiscal Year 2017									Fiscal Year 2016
In thousands	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Deferred income tax expense (benefit)	$	(39,734	)	$	(263	)	$	(39,997	)	$	11,181	$	(900	)	$	10,281
Changes in operating assets and liabilities: Other liabilities	$	12,879		$	2,086		$	14,965		$	9,406	$	1,631		$	11,037

Business and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 29, 2018

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
Equipment	5 - 7 years
Information systems hardware and software ^(a)	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(b)	10 years
P&E under capital leases ^(b)	10 years
____________
(a) 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 information systems hardware and software.
(b) Depreciation of 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.



In thousands	As of December 29, 2018		As of December 30, 2017
Property and equipment, net:
Land and building	$	3,632	$	3,608
Equipment	160,958		136,876
Information systems hardware and software	101,809		83,212
Furniture and fixtures	48,992		42,708
Leasehold improvements	186,499		155,369
Construction in progress	40,697		18,375
Property under capital leases	25,446		11,756
	568,033		451,904
Less accumulated depreciation	212,916		149,624
	$	355,117	$	302,280

Schedule of Impact of Adoption of New Accounting Pronouncement



In thousands	With ASC 606 Adoption		Without ASC 606 Adoption		Impact of Adoption
Current liabilities:
Deferred revenue	$	52,144	$	67,435	$	(15,291	)
Total current liabilities	$	211,652	$	226,943	$	(15,291	)
Other non-current liabilities:
Deferred revenue	$	20,134	$	31,926	$	(11,792	)
Deferred income taxes, net	$	61,940	$	55,002	$	6,938
Total other non-current liabilities	$	136,038	$	140,892	$	(4,854	)
Stockholders' equity:
Retained earnings	$	74,840	$	54,695	$	20,145
Total stockholders' equity	$	743,154	$	723,009	$	20,145

The following table summarizes the impact of adoption on the Company’s consolidated statement of operations for the year ended December 29, 2018:



In thousands, except earnings per share	With ASC 606 Adoption			Without ASC 606 Adoption			Impact of Adoption
Revenue:
Net sales of services and plans	$	267,242		$	265,935		$	1,307
Total net revenue	$	1,536,854		$	1,535,547		$	1,307
Income from operations	$	42,351		$	41,044		$	1,307
Earnings before income taxes	$	4,868		$	3,561		$	1,307
Income tax provision (benefit)	$	(18,785	)	$	(19,119	)	$	334
Net income	$	23,653		$	22,680		$	973
Earnings per share:
Basic	$	0.31		$	0.30		$	0.01
Diluted	$	0.30		$	0.29		$	0.01

Schedule of Error Corrections and Prior Period Adjustments



	Fiscal Year 2017									Fiscal Year 2016
In thousands, except earnings per share	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Operating Expenses:
Selling, general and administrative expenses	$	597,924		$	2,086		$	600,010		$	524,238	$	1,631		$	525,869
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Total operating expenses	$	671,106		$	2,945		$	674,051		$	585,030	$	2,315		$	587,345
Income from operations	$	67,236		$	(2,945	)	$	64,291		$	66,384	$	(2,315	)	$	64,069
Earnings before income taxes	$	7,173		$	(2,945	)	$	4,228		$	27,292	$	(2,315	)	$	24,977
Income tax provision (benefit)	$	(38,647	)	$	(263	)	$	(38,910	)	$	12,534	$	(900	)	$	11,634
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Earnings per share:
Basic	$	0.77		$	(0.05	)	$	0.72		$	0.26	$	(0.02	)	$	0.24
Diluted	$	0.74		$	(0.04	)	$	0.70		$	0.26	$	(0.03	)	$	0.23
Comprehensive income:	$	50,508		$	(2,682	)	$	47,826		$	11,486	$	(1,415	)	$	10,071

The following table presents the impact of these corrections on affected consolidated balance sheet line items as of December 30, 2017:



	As of December 30, 2017
In thousands	As Previously Reported		Adjustments			As Corrected
Property and equipment, net	$	304,132	$	(1,852	)	$	302,280
Total non-current assets	$	1,421,314	$	(1,852	)	$	1,419,462
Total assets	$	1,583,791	$	(1,852	)	$	1,581,939
Other liabilities	$	46,044	$	4,858		$	50,902
Deferred income taxes, net	$	73,648	$	(1,722	)	$	71,926
Total other non-current liabilities	$	150,914	$	3,136		$	154,050
Retained earnings	$	37,145	$	(4,988	)	$	32,157
Total stockholders’ equity	$	659,588	$	(4,988	)	$	654,600
Total liabilities and stockholders’ equity	$	1,583,791	$	(1,852	)	$	1,581,939

The following table presents the impact of these corrections on affected consolidated statements of cash flows line items for fiscal years ended December 30, 2017 and December 31, 2016:



	Fiscal Year 2017									Fiscal Year 2016
In thousands	As Previously Reported			Adjustments			As Corrected			As Previously Reported		Adjustments			As Corrected
Net income	$	45,820		$	(2,682	)	$	43,138		$	14,758	$	(1,415	)	$	13,343
Depreciation and amortization	$	61,115		$	859		$	61,974		$	51,993	$	684		$	52,677
Deferred income tax expense (benefit)	$	(39,734	)	$	(263	)	$	(39,997	)	$	11,181	$	(900	)	$	10,281
Changes in operating assets and liabilities: Other liabilities	$	12,879		$	2,086		$	14,965		$	9,406	$	1,631		$	11,037

Details of Certain Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 29, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable, Net



In thousands	As of December 29, 2018			As of December 30, 2017
Accounts receivable, net:
Trade receivables	$	27,356		$	28,862
Credit card receivables	16,636			10,459
Tenant improvement allowances receivable	5,149			4,794
Other receivables	4,206			2,936
Allowance for uncollectible accounts	(2,612		)	(3,858		)
	$	50,735		$	43,193

Schedule of Inventories



In thousands	As of December 29, 2018		As of December 30, 2017
Inventories:
Raw materials and work in process ⁽¹⁾	$	59,946	$	43,953
Finished goods	56,076		47,198
	$	116,022	$	91,151
(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.

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
Equipment	5 - 7 years
Information systems hardware and software ^(a)	2 - 5 years
Furniture and fixtures	6 years
Leasehold improvements^(b)	10 years
P&E under capital leases ^(b)	10 years
____________
(a) 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 information systems hardware and software.
(b) Depreciation of 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.



In thousands	As of December 29, 2018		As of December 30, 2017
Property and equipment, net:
Land and building	$	3,632	$	3,608
Equipment	160,958		136,876
Information systems hardware and software	101,809		83,212
Furniture and fixtures	48,992		42,708
Leasehold improvements	186,499		155,369
Construction in progress	40,697		18,375
Property under capital leases	25,446		11,756
	568,033		451,904
Less accumulated depreciation	212,916		149,624
	$	355,117	$	302,280

Schedule of Other Payables and Accrued Expenses



In thousands	As of December 29, 2018		As of December 30, 2017
Other payables and accrued expenses:
Employee compensation and benefits	$	20,529	$	21,134
Self-insurance reserves	8,117		6,854
Capital expenditures	14,078		10,782
Advertising	2,076		2,900
Reserves for customer returns and remakes	4,645		4,565
Legacy management and services agreement	5,383		6,000
Fair value of derivative liabilities	3,130		6,969
Supplies and other store support expenses	4,929		3,014
Litigation settlements	3,938		3,942
Other	14,179		11,451
	$	81,004	$	77,611

Schedule of Other Non-current Liabilities



In thousands	As of December 29, 2018		As of December 30, 2017
Other non-current liabilities:
Fair value of derivative liabilities	$	3,505	$	9,155
Tenant improvements ⁽¹⁾	30,851		25,854
Deferred rental expenses	11,926		9,144
Self-insurance reserves	5,114		4,564
Other	2,568		2,185
	$	53,964	$	50,902
(1) 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. 29, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The gross carrying amount and accumulated impairment of Company’s goodwill balances for 2018 and 2017 are as follows:



	As of December 29, 2018					As of December 30, 2017
In thousands	Gross Carrying Amount		Accumulated Impairment			Gross Carrying Amount		Accumulated Impairment
Owned & Host Segment	$	736,901	$	(19,357	)	$	736,901	$	(4,226	)
Legacy Segment	60,069		—			60,069		—
Corporate/Other	8,107		(8,107		)	8,107		(8,107		)
	$	805,077	$	(27,464	)	$	805,077	$	(12,333	)

Schedule of Indefinite-Lived Intangible Assets

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



In thousands	As of December 29, 2018		As of December 30, 2017
Trademarks and trade names:
America's Best	$	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 29, 2018					As of December 30, 2017
In thousands	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)	Gross Carrying Amount		Accumulated Amortization		Remaining Life (Years)
Contracts and relationships:
Legacy	$	65,000	$	28,359	6	$	65,000	$	22,470	7
Fred Meyer	35,000		7,303		18	35,000		5,787		19
Customer database	4,400		4,224		—	4,400		3,347		1
Other	738		720		—	738		631		1
	$	105,138	$	40,606		$	105,138	$	32,235

Schedule of Aggregate Future Estimated Amortization Expense



Fiscal Year	In thousands
2019	$	7,598
2020	7,547
2021	7,405
2022	7,405
2023	7,405
Thereafter	27,172
	$	64,532

Long-term Debt (Tables)

12 Months Ended

Dec. 29, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consists of the following:



In thousands	As of December 29, 2018			As of December 30, 2017
First Lien - Term Loan B, due November 20, 2024	$	364,300		$	568,575
First Lien - Term Loan A, due October 9, 2023	200,000			—
Total term loans before unamortized discount	564,300			568,575
Unamortized discount	(10,673		)	(11,322		)
Total term loans	553,627			557,253
Less current maturities	(5,000		)	(5,700		)
Term loans - non-current portion	548,627			551,553
Capitalized lease obligations	24,485			11,985
Less current maturities	(2,567		)	(1,558		)
Long-term debt, less current portion and unamortized debt discount	$	570,545		$	561,980

Schedule of Annual Maturities of Debt

Scheduled annual maturities of debt are as follows:



Fiscal Year	In thousands
2019	$	5,000
2020	5,000
2021	5,000
2022	10,000
2023	175,000
Thereafter	364,300
	$	564,300

Schedule of Future Minimum Lease Payments for Capital Leases

Future minimum lease payments required under our capital leases as of fiscal year end 2018 are as follows:



	Fiscal Year	In thousands
	2019	$	5,786
	2020	5,500
	2021	5,395
	2022	5,324
	2023	4,346
	Thereafter	13,062
Total minimum lease payments		39,413
Less: Amount representing interest		(14,928		)
Present value of net minimum lease payments		24,485
Less: Current maturities of capital lease obligations		(2,567		)
Capital lease obligations - non-current portion		$	21,918

- 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. 29, 2018

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

Schedule of Stock Option Activity

The following table summarizes performance-based stock option activity:



	Number of Options Outstanding		Weighted Average Exercise Price ($)	Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding options at December 30, 2017	6,524,152		6.07
Exercised	(2,051,033	)	5.87
Forfeited	(329,338	)	5.33
Outstanding options at December 29, 2018	4,143,781		6.23	5.91	$	94,291
Vested and exercisable at December 29, 2018	1,737,952		5.87	5.79	$	40,172



	Number of Options Outstanding		Weighted Average Exercise Price ($)	Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In Thousands)
Outstanding options at December 30, 2017	3,822,915		7.22
Exercised	(1,278,223	)	5.67
Forfeited	(70,185	)	7.42
Outstanding options at December 29, 2018	2,474,507		8.02	6.26	$	51,877
Vested and exercisable at December 29, 2018	1,212,053		7.35	5.81	$	26,219

Income Taxes (Tables)

12 Months Ended

Dec. 29, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Benefit) Provision

The income tax provision (benefit) consists of:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Current income tax:
Federal	$	174		$	5		$	51
State	381			1,082			1,302
Deferred income tax:
Federal	(15,687		)	(40,136		)	9,243
State	(3,653		)	139			1,038
Income tax provision (benefit)	$	(18,785	)	$	(38,910	)	$	11,634

Schedule of Effective Income Tax Rate Reconciliation

Our income tax provision (benefit) 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 2018			Fiscal Year 2017			Fiscal Year 2016
Federal income tax provision at statutory rate	$	1,022		$	1,480		$	8,742
State income tax provision, net of federal income tax	226			165			973
Increase in deferred tax asset valuation allowance	318			769			979
Goodwill impairment	3,879			—			—
Benefit of tax legislation	—			(42,089		)	—
Tax benefit of equity-based compensation deductions	(25,544		)	—			—
Other, net	1,314			765			940
Net income tax provision (benefit)	$	(18,785	)	$	(38,910	)	$	11,634
Effective income tax rate	(385.9		)%	(920.3		)%	46.6		%

Schedule of Deferred Tax Assets and Liabilities



In thousands	As of December 29, 2018			As of December 30, 2017
Deferred tax assets:
NOL carry-forwards	$	13,614		$	6,278
Deferred interest expense carry-forwards	4,655			—
AMT payment and employment credits	4,679			3,741
Deferred revenue	4,984			7,643
Accrued expenses and reserves	11,370			14,178
Loss on equity and other investments	1,493			1,175
Stock option compensation	5,893			6,606
Unrealized losses on hedging instruments	1,700			4,130
Other	1,193			4,222
Subtotal	49,581			47,973
Valuation allowances	1,614			1,296
Total net deferred tax assets	47,967			46,677
Deferred tax liabilities:
Depreciation of property and equipment	(32,631		)	(37,877		)
Amortization of intangible assets	(75,422		)	(78,329		)
Other	(1,854		)	(2,397		)
Total deferred tax liabilities	(109,907		)	(118,603		)
Net deferred tax liabilities	$	(61,940	)	$	(71,926	)

Revenue From Contracts With Customers (Tables)

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenues

The following disaggregation of revenues depicts our revenues based on the timing of revenue recognition:



In thousands	Fiscal Year 2018
Revenues recognized at a point in time	$	1,397,801
Revenues recognized over time	139,053
Total net revenue	$	1,536,854

Related Party Transactions (Tables)

12 Months Ended

Dec. 29, 2018

Under certain agreements we have entered into with KKR Sponsor and Berkshire, we recorded the following expenses:



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
KKR Sponsor	$	—	$	7,259	$	851
Berkshire	$	—	$	955	$	199

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



In thousands	As of December 29, 2018		As of December 30, 2017
Balance sheets
Prepaid expenses and other current assets	$	—	$	172
Other assets ⁽¹⁾	$	1,522	$	1,518
(1) Other assets include loan receivable of $1.5 million as of December 29, 2018 and December 30, 2017.



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
Statements of operations
Licensing fees (SG&A)	$	172	$	955	$	987

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

12 Months Ended

Dec. 29, 2018

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Financial Information and Transactions with Equity Method Affiliate

Summarized balance sheet information for our investee is as follows:



In thousands	As of December 29, 2018			As of December 30, 2017
Current assets	$	2,197		$	2,407
Non-current assets	558			557
Total assets	2,755			2,964

Current liabilities	6,321			1,046
Non-current liabilities	3,000			3,000
Total liabilities	9,321			4,046

Net assets	$	(6,566	)	$	(1,082	)

Summarized income statement information for our investee is as follows:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Revenues	$	3,871		$	6,244		$	5,847
Net loss	$	(5,632	)	$	(3,433	)	$	(4,153	)
National Vision’s share of net loss	$	(1,304	)	$	(1,001	)	$	(1,370	)

Schedule of Transactions with Affiliate

Under certain agreements we have entered into with KKR Sponsor and Berkshire, we recorded the following expenses:



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
KKR Sponsor	$	—	$	7,259	$	851
Berkshire	$	—	$	955	$	199

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



In thousands	As of December 29, 2018		As of December 30, 2017
Balance sheets
Prepaid expenses and other current assets	$	—	$	172
Other assets ⁽¹⁾	$	1,522	$	1,518
(1) Other assets include loan receivable of $1.5 million as of December 29, 2018 and December 30, 2017.



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
Statements of operations
Licensing fees (SG&A)	$	172	$	955	$	987

Deferred Revenue (Tables)

12 Months Ended

Dec. 29, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Roll-Forward of Deferred Revenue

The following depicts a roll-forward of deferred revenue:



	Fiscal Year 2018
In thousands	Product Protection Plans			Eye Care Clubs			HMO Memberships			Total
Beginning of the year	$	26,731		$	67,430		$	54		$	94,215
Adjustment for adoption of ASU 2014-09	—			(25,776		)	—			(25,776		)
Beginning of the year - As Adjusted	26,731			41,654			54			68,439
Sold	58,860			47,923			1,384			108,167
Revenue recognized	(56,816		)	(46,089		)	(1,423		)	(104,328		)
End of year	$	28,775		$	43,488		$	15		$	72,278

Current	$	28,403		$	23,726		$	15		$	52,144
Non-current	372			19,762			—			20,134
	$	28,775		$	43,488		$	15		$	72,278

	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

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

Deferred revenue recorded as of fiscal year end 2018 is expected to be reflected in future operating results as follows:



Fiscal Year	In thousands
2019	$	52,144
2020	15,029
2021	4,840
2022	204
2023	61
	$	72,278

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

As of fiscal year end 2018, aggregate future minimum rental payments under our operating leases are as follows:



Fiscal Year	In thousands
2019	$	69,372
2020	63,218
2021	56,219
2022	49,303
2023	42,545
Thereafter	126,388
	$	407,045

Schedule of Product Warranty Liability

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



In thousands	Fiscal Year 2018			Fiscal Year 2017
Beginning of year balance	$	1,593		$	1,343
Accrued obligation	29,943			26,806
Claims paid	(29,794		)	(26,556		)
End of year balance	$	1,742		$	1,593

Interest Rate Derivatives (Tables)

12 Months Ended

Dec. 29, 2018

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 ⁽¹⁾
As of December 30, 2017	$	500,000	March 2021	$	6,969	$	9,155	$	9,868
As of December 29, 2018	$	465,000	March 2021	$	3,130	$	3,505	$	2,810
(1) Includes stranded income tax benefit of $2.1 million within AOCL from adopting provisions of the Tax Legislation of 2017 during the year ended December 30, 2017.

Earnings Per Share (Tables)

12 Months Ended

Dec. 29, 2018

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 2018		Fiscal Year 2017		Fiscal Year 2016
Net income	$	23,653	$	43,138	$	13,343
Weighted average shares outstanding for basic EPS	75,899		59,895		56,185
Effect of dilutive securities:
Stock options	3,129		2,140		817
Restricted Stock	13		—		—
Weighted average shares outstanding for diluted EPS	79,041		62,035		57,001
Basic EPS	$	0.31	$	0.72	$	0.24
Diluted EPS	$	0.30	$	0.70	$	0.23
Anti-dilutive options outstanding excluded from EPS	—		254		88

Segment Reporting (Tables)

12 Months Ended

Dec. 29, 2018

Segment Reporting [Abstract]

Schedule of Financial Data by Segment



	Fiscal Year 2018
In thousands	Owned & Host		Legacy		Corporate/Other			Reconciliations			Total
Segment product revenues	$	956,355	$	103,890	$	208,875		$	492		$	1,269,612
Segment services and plans revenues	217,047		50,522		3,552			(3,879		)	267,242
Total net revenue	1,173,402		154,412		212,427			(3,387		)	1,536,854
Cost of products	280,720		46,986		183,459			241			511,406
Cost of services and plans	178,362		20,272		3,531			—			202,165
Total costs applicable to revenue	459,082		67,258		186,990			241			713,571
SG&A	457,618		54,091		175,767			—			687,476
Asset impairment	—		—		17,630			—			17,630
Debt issuance cost	—		—		200			—			200
Other expense, net	—		—		1,487			—			1,487
EBITDA	$	256,702	$	33,063	$	(169,647	)	$	(3,628	)	$	116,490
Depreciation and amortization											74,339
Interest expense, net											37,283
Income before income taxes											$	4,868



	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	403,848		52,705		143,457			—			600,010
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	$	232,480	$	36,238	$	(138,523	)	$	(8,457	)	$	121,738
Depreciation and amortization											61,974
Interest expense, net											55,536
Income before income taxes											$	4,228



	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	345,469		52,925		127,475			—			525,869
Asset impairment	—		—		7,132			—			7,132
Other expense, net	—		—		1,667			—			1,667
EBITDA	$	203,827	$	39,678	$	(113,913	)	$	(12,846	)	$	116,746
Depreciation and amortization											52,677
Interest expense, net											39,092
Income before income taxes											$	24,977

Schedule of Net Product Revenue

The following table presents our consolidated net product revenue information:



In thousands	Fiscal Year 2018		Fiscal Year 2017		Fiscal Year 2016
Net Product Sales
Eyeglasses and sunglasses	$	851,328	$	763,268	$	663,253
Contact lenses	410,839		358,808		310,322
Accessories and other	7,445		7,237		7,378
Total net product revenues	$	1,269,612	$	1,129,313	$	980,953

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 29, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table presents the change in AOCL, net of tax during the fiscal years 2018, 2017 and 2016, respectively:



In thousands	Fiscal Year 2018			Fiscal Year 2017			Fiscal Year 2016
Cash flow hedging activity
Balance at beginning of fiscal year	$	(9,868	)	$	(14,556	)	$	(11,284	)
Other comprehensive income (loss) before reclassification	3,182			(1,051		)	(5,116		)
Tax effect of other comprehensive income (loss) before reclassification	(815		)	436			1,844
Amount reclassified from AOCL	6,306			8,664			—
Tax effect of amount reclassified from AOCL	(1,615		)	(3,361		)	—
Net current period other comprehensive income (loss), net of tax	7,058			4,688			(3,272		)
Balance at end of fiscal year	$	(2,810	)	$	(9,868	)	$	(14,556	)

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 29, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

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



	Fiscal Year 2018
In thousands, except EPS	Fourth Quarter Ended December 29, 2018			Third Quarter Ended September 29, 2018			Second Quarter Ended June 30, 2018		First Quarter Ended March 31, 2018
Total net revenue	$	355,922		$	387,425		$	385,532	$	407,975
Total costs applicable to revenue	$	173,470		$	182,588		$	177,059	$	180,454
Income (loss) from operations	$	(19,387	)	$	(2,083	)	$	24,973	$	38,848
Net income (loss)	$	(18,440	)	$	5,171		$	12,467	$	24,455
Weighted-average shares used in computing basic EPS	77,526			76,118			75,249		74,714
Weighted-average shares used in computing diluted EPS	77,526			79,710			77,858		77,837
Basic EPS	$	(0.24	)	$	0.07		$	0.17	$	0.33
Diluted EPS	$	(0.24	)	$	0.06		$	0.16	$	0.31
Anti-dilutive options outstanding excluded from EPS	3,130			—			—		—



	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
Total costs applicable to revenue	$	152,393		$	162,358	$	156,408		$	165,808
Income (loss) from operations	$	(3,606	)	$	15,816	$	13,059		$	39,022
Net income (loss)	$	27,341		$	1,089	$	(1,933	)	$	16,641
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	$	0.39		$	0.02	$	(0.03	)	$	0.30
Diluted EPS	$	0.37		$	0.02	$	(0.03	)	$	0.29
Anti-dilutive options outstanding excluded from EPS	—			—		2,036			218

Business and Significant Accounting Policies - Nature of Operations (Details)	Dec. 29, 2018 store store_brand	Dec. 30, 2017 store
Accounting Policies [Abstract]
Number of retail optical locations \| store	1,082	1,013
Number of store brands \| store_brand	5

Business and Significant Accounting Policies - Initial and Secondary Public Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Oct. 09, 2018	Oct. 30, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Repayments of long-term debt			$ 204,275	$ 367,660	$ 6,515
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	$ 0	7,259	851
Ownership percentage in Company retained by equity sponsor (percent)		58.20%	11.70%
Berkshire
Class of Stock [Line Items]
Termination fees to related party		$ 800	$ 0	$ 955	$ 199
Ownership percentage in Company retained by equity sponsor (percent)		13.60%	2.70%
Term Loan \| Second Lien Term Loans
Class of Stock [Line Items]
Repayments of long-term debt		$ 125,000
Term Loan \| First Lien Term Loans
Class of Stock [Line Items]
Repayments of long-term debt	$ 200,000	$ 235,000
IPO
Class of Stock [Line Items]
Shares issued in 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 public offering (shares)		2,370,000
Underwritten Public Offering
Class of Stock [Line Items]
Shares issued in public offering (shares)			42,914,852

Business and Significant Accounting Policies - Certificate of Incorporation and Bylaws, and Stock Split (Details)	Oct. 24, 2017	Dec. 29, 2018 shares	Dec. 30, 2017 shares	Oct. 30, 2017 $ / shares shares
Accounting Policies [Abstract]
Common stock, authorized (shares)		200,000,000	200,000,000	200,000,000
Preferred stock, authorized (shares)				50,000,000
Preferred stock, par value (in usd per share) \| $ / shares				$ 0.01
Stock split conversion ratio	1.96627

Business and Significant Accounting Policies - Accounts Receivable and Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Concentration Risk [Line Items]
Impairment recognized on receivables	$ 7,107	$ 8,035	$ 4,052
Supplier Concentration Risk \| Contact Lenses \| Three Key Vendors
Concentration Risk [Line Items]
Concentration risk (percent)	93.00%
Supplier Concentration Risk \| Frames \| Two Key Vendors
Concentration Risk [Line Items]
Concentration risk (percent)	52.00%
Supplier Concentration Risk \| Lenses \| One Key Vendor
Concentration Risk [Line Items]
Concentration risk (percent)	90.00%

Business and Significant Accounting Policies - Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Impairment of capitalized software costs	$ 0	$ 1,500,000	$ 0
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 and used
Property and Equipment
Impairment of long-lived assets held and used	$ 2,500,000	$ 1,600,000	$ 1,200,000
Assets impaired during 2018
Property and Equipment
Estimated fair value of impaired long-lived assets held and used	100,000
Assets impaired during 2017
Property and Equipment
Estimated fair value of impaired long-lived assets held and used	$ 0
Buildings
Property and Equipment
Estimated useful life (in years)	34 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)	5 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
P&E under capital leases
Property and Equipment
Estimated useful life (in years)	10 years

Business and Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 29, 2018 USD ($) option pair	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Accounting Policies [Abstract]
Reinsurance retention level per claim	$ 300
Reinsurance retention level per individual	200
Estimated insurance recoveries, current	800	$ 600
Estimated insurance recoveries, non-current	1,100	1,000
Self-insurance reserves, current	8,117	6,854
Self-insurance reserves, non-current	$ 5,114	4,564
Number of pairs of glasses in lead offer \| pair	2
Advertising expenses	$ 107,500	$ 93,200	$ 85,400
Minimum
Revenue Recognition [Line Items]
Delivery time used in period end unearned revenue calculation	4 days
Average difference in processing time versus delivery time	7 days
Number of options to renew per most leases \| option	1
Lease renewal term per most leases	1 year
Maximum
Revenue Recognition [Line Items]
Delivery time used in period end unearned revenue calculation	10 days
Average difference in processing time versus delivery time	8 days
Lease renewal term per most leases	10 years

Business and Significant Accounting Policies - Adoption of New Accounting Pronouncements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Jan. 01, 2018	Jan. 02, 2016
Current liabilities:
Deferred revenue, current	$ 52,144				$ 62,993				$ 52,144	$ 62,993
Total current liabilities	211,652				211,309				211,652	211,309
Other non-current liabilities:
Deferred revenue, noncurrent	20,134				31,222				20,134	31,222
Deferred income taxes, net	61,940				71,926				61,940	71,926
Total other non-current liabilities	136,038				154,050				136,038	154,050
Stockholders’ equity:
Retained earnings	74,840				32,157				74,840	32,157
Total stockholders’ equity	743,154				654,600				743,154	654,600	$ 399,581		$ 385,339
Income Statement [Abstract]
Total net revenue	355,922	$ 387,425	$ 385,532	$ 407,975	321,819	$ 346,089	$ 337,541	$ 369,859	1,536,854	1,375,308	1,196,195
Income from operations	(19,387)	(2,083)	24,973	38,848	(3,606)	15,816	13,059	39,022	42,351	64,291	64,069
Earnings before income taxes									4,868	4,228	24,977
Income tax provision (benefit)									(18,785)	(38,910)	11,634
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Earnings per share:
Basic (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Eyecare Club Memberships [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of consolidated net revenue										3.00%
Services and plans
Income Statement [Abstract]
Total net revenue									$ 267,242	$ 245,995	$ 215,242
Without ASC 606 Adoption
Current liabilities:
Deferred revenue, current	$ 67,435								67,435
Total current liabilities	226,943								226,943
Other non-current liabilities:
Deferred revenue, noncurrent	31,926								31,926
Deferred income taxes, net	55,002								55,002
Total other non-current liabilities	140,892								140,892
Stockholders’ equity:
Retained earnings	54,695								54,695
Total stockholders’ equity	723,009								723,009
Income Statement [Abstract]
Total net revenue									1,535,547
Income from operations									41,044
Earnings before income taxes									3,561
Income tax provision (benefit)									(19,119)
Net income									$ 22,680
Earnings per share:
Basic (in usd per share)									$ 0.30
Diluted (in usd per share)									$ 0.29
Without ASC 606 Adoption \| Services and plans
Income Statement [Abstract]
Total net revenue									$ 265,935
Impact of Adoption \| ASU No. 2014-09
Current liabilities:
Deferred revenue, current	(15,291)								(15,291)			$ (14,000)
Total current liabilities	(15,291)								(15,291)
Other non-current liabilities:
Deferred revenue, noncurrent	(11,792)								(11,792)			(11,800)
Deferred income taxes, net	6,938								6,938			6,800
Total other non-current liabilities	(4,854)								(4,854)
Stockholders’ equity:
Retained earnings	20,145								20,145			$ 19,000
Total stockholders’ equity	$ 20,145								20,145
Income Statement [Abstract]
Total net revenue									1,307
Income from operations									1,307
Earnings before income taxes									1,307
Income tax provision (benefit)									334
Net income									$ 973
Earnings per share:
Basic (in usd per share)									$ 0.01
Diluted (in usd per share)									$ 0.01
Impact of Adoption \| ASU No. 2014-09 \| Services and plans
Income Statement [Abstract]
Total net revenue									$ 1,307

Business and Significant Accounting Policies - Future Adoption of Accounting Pronouncements (Details) - ASU No. 2016-02 - Forecast $ in Millions	Dec. 30, 2018 USD ($)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, liabilities	$ 325.0
Operating lease, right-of-use assets	325.0
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, liabilities	345.0
Operating lease, right-of-use assets	$ 345.0

Business and Significant Accounting Policies - Error Corrections and Prior Period Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Income Statement [Abstract]
Selling, general and administrative expenses									$ 687,476	$ 600,010	$ 525,869
Depreciation and amortization									74,339	61,974	52,677
Total operating expenses									780,932	674,051	587,345
Income (loss) from operations	$ (19,387)	$ (2,083)	$ 24,973	$ 38,848	$ (3,606)	$ 15,816	$ 13,059	$ 39,022	42,351	64,291	64,069
Earnings before income taxes									4,868	4,228	24,977
Income tax provision (benefit)									(18,785)	(38,910)	11,634
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Basic (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Comprehensive income									$ 30,711	$ 47,826	$ 10,071
Balance Sheet [Abstract]
Property and equipment, net	$ 355,117				$ 302,280				355,117	302,280
Total non-current assets	1,446,685				1,419,462				1,446,685	1,419,462
Total assets	1,661,389				1,581,939				1,661,389	1,581,939
Other liabilities	53,964				50,902				53,964	50,902
Deferred income taxes, net	61,940				71,926				61,940	71,926
Total other non-current liabilities	136,038				154,050				136,038	154,050
Retained earnings	74,840				32,157				74,840	32,157
Total stockholders’ equity	743,154				654,600				743,154	654,600	399,581	$ 385,339
Total liabilities and stockholders’ equity	1,661,389				1,581,939				1,661,389	1,581,939
Statements of Cash Flow [Abstract]
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	27,341	$ 1,089	$ (1,933)	$ 16,641	23,653	43,138	13,343
Depreciation and amortization									74,339	61,974	52,677
Deferred income tax expense (benefit)									(19,340)	(39,997)	10,281
Other liabilities									$ 12,597	14,965	11,037
As Previously Reported
Income Statement [Abstract]
Selling, general and administrative expenses										597,924	524,238
Depreciation and amortization										61,115	51,993
Total operating expenses										671,106	585,030
Income (loss) from operations										67,236	66,384
Earnings before income taxes										7,173	27,292
Income tax provision (benefit)										(38,647)	12,534
Net income										$ 45,820	$ 14,758
Basic (in usd per share)										$ 0.77	$ 0.26
Diluted (in usd per share)										$ 0.74	$ 0.26
Comprehensive income										$ 50,508	$ 11,486
Balance Sheet [Abstract]
Property and equipment, net					304,132					304,132
Total non-current assets					1,421,314					1,421,314
Total assets					1,583,791					1,583,791
Other liabilities					46,044					46,044
Deferred income taxes, net					73,648					73,648
Total other non-current liabilities					150,914					150,914
Retained earnings					37,145					37,145
Total stockholders’ equity					659,588					659,588
Total liabilities and stockholders’ equity					1,583,791					1,583,791
Statements of Cash Flow [Abstract]
Net income										45,820	14,758
Depreciation and amortization										61,115	51,993
Deferred income tax expense (benefit)										(39,734)	11,181
Other liabilities										12,879	9,406
Immaterial Errors in Lease Accounting \| Adjustments
Income Statement [Abstract]
Selling, general and administrative expenses										2,086	1,631
Depreciation and amortization										859	684
Total operating expenses										2,945	2,315
Income (loss) from operations		(900)	(800)	(800)	(800)	(700)	(700)	(700)		(2,945)	(2,315)
Earnings before income taxes										(2,945)	(2,315)
Income tax provision (benefit)										(263)	(900)
Net income		$ (600)	$ (600)	$ (600)	$ (1,400)	$ (500)	(400)	(400)		$ (2,682)	$ (1,415)
Basic (in usd per share)		$ (0.01)		$ (0.01)	$ (0.02)	$ (0.01)				$ (0.05)	$ (0.02)
Diluted (in usd per share)		$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)				$ (0.04)	$ (0.03)
Comprehensive income										$ (2,682)	$ (1,415)
Balance Sheet [Abstract]
Property and equipment, net					$ (1,852)					(1,852)
Total non-current assets					(1,852)					(1,852)
Total assets					(1,852)					(1,852)
Other liabilities					4,858					4,858
Deferred income taxes, net					(1,722)					(1,722)
Total other non-current liabilities					3,136					3,136
Retained earnings					(4,988)					(4,988)		$ (900)
Total stockholders’ equity					(4,988)					(4,988)
Total liabilities and stockholders’ equity					(1,852)					(1,852)
Statements of Cash Flow [Abstract]
Net income		$ (600)	$ (600)	$ (600)	$ (1,400)	$ (500)	$ (400)	$ (400)		(2,682)	(1,415)
Depreciation and amortization										859	684
Deferred income tax expense (benefit)										(263)	(900)
Other liabilities										$ 2,086	$ 1,631

Details of Certain Balance Sheet Accounts - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Accounts receivable, net:
Allowance for uncollectible accounts	$ (2,612)	$ (3,858)
Accounts receivable, net	50,735	43,193
Trade receivables
Accounts receivable, net:
Accounts receivable, gross	27,356	28,862
Credit card receivables
Accounts receivable, net:
Accounts receivable, gross	16,636	10,459
Tenant improvement allowances receivable
Accounts receivable, net:
Accounts receivable, gross	5,149	4,794
Other receivables
Accounts receivable, net:
Accounts receivable, gross	$ 4,206	$ 2,936

Details of Certain Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Inventories:
Raw materials and work in process	$ 59,946	$ 43,953
Finished goods	56,076	47,198
Inventories	$ 116,022	$ 91,151

Details of Certain Balance Sheet Accounts - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Property and equipment, net:
Property and equipment, gross	$ 568,033	$ 451,904
Less accumulated depreciation	212,916	149,624
Property and equipment, net	355,117	302,280
Land and building
Property and equipment, net:
Property and equipment, gross	3,632	3,608
Equipment
Property and equipment, net:
Property and equipment, gross	160,958	136,876
Information systems hardware and software
Property and equipment, net:
Property and equipment, gross	101,809	83,212
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	48,992	42,708
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	186,499	155,369
Construction in progress
Property and equipment, net:
Property and equipment, gross	40,697	18,375
Property under capital leases
Property and equipment, net:
Property and equipment, gross	$ 25,446	$ 11,756

Details of Certain Balance Sheet Accounts - Other Payables and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Other payables and accrued expenses:
Employee compensation and benefits	$ 20,529	$ 21,134
Self-insurance reserves	8,117	6,854
Capital expenditures	14,078	10,782
Advertising	2,076	2,900
Reserves for customer returns and remakes	4,645	4,565
Legacy management and services agreement	5,383	6,000
Fair value of derivative liabilities	3,130	6,969
Supplies and other store support expenses	4,929	3,014
Litigation settlements	3,938	3,942
Other	14,179	11,451
Total other payables and accrued expenses	$ 81,004	$ 77,611

Details of Certain Balance Sheet Accounts - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Other non-current liabilities:
Fair value of derivative liabilities	$ 3,505	$ 9,155
Tenant improvements	30,851	25,854
Deferred rental expenses	11,926	9,144
Self-insurance reserves, non-current	5,114	4,564
Other	2,568	2,185
Other liabilities	$ 53,964	$ 50,902

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 29, 2018	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill impairment			$ 0
Impairment of indefinite-lived intangible assets		$ 0	0
Impairment of definite-lived intangible assets		$ 0	$ 0	$ 1,300,000
Fred Meyer
Goodwill [Line Items]
Goodwill impairment	$ 11,400,000
Military
Goodwill [Line Items]
Goodwill impairment	$ 3,700,000
America's Best and Eyeglass World \| Minimum
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount	75.00%	75.00%
Legacy
Goodwill [Line Items]
Percentage of fair value in excess of carrying amount	21.00%	21.00%
Reporting unit's percentage of total consolidated goodwill	8.00%	8.00%
AC Lens
Goodwill [Line Items]
Goodwill impairment				$ 3,300,000

Goodwill and Intangible Assets - Goodwill Carrying Amount (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Goodwill [Line Items]
Gross Carrying Amount	$ 805,077	$ 805,077
Accumulated Impairment	(27,464)	(12,333)
Owned & Host
Goodwill [Line Items]
Gross Carrying Amount	736,901	736,901
Accumulated Impairment	(19,357)	(4,226)
Legacy
Goodwill [Line Items]
Gross Carrying Amount	60,069	60,069
Accumulated Impairment	0	0
Corporate/Other
Goodwill [Line Items]
Gross Carrying Amount	8,107	8,107
Accumulated Impairment	$ (8,107)	$ (8,107)

Goodwill and Intangible Assets - Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trademarks and trade names	$ 240,547	$ 240,547
Trademarks and trade names - America's Best
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trademarks and trade names	200,547	200,547
Trademarks and trade names - Eyeglass World
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived trademarks and trade names	$ 40,000	$ 40,000

Goodwill and Intangible Assets - Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 105,138	$ 105,138
Accumulated Amortization	40,606	32,235
Contracts and relationships - Legacy
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	65,000	65,000
Accumulated Amortization	$ 28,359	$ 22,470
Remaining Life (Years)	6 years	7 years
Contracts and relationships - Fred Meyer
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 35,000	$ 35,000
Accumulated Amortization	$ 7,303	$ 5,787
Remaining Life (Years)	18 years	19 years
Customer database
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,400	$ 4,400
Accumulated Amortization	4,224	$ 3,347
Remaining Life (Years)		1 year
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	738	$ 738
Accumulated Amortization	$ 720	$ 631
Remaining Life (Years)		1 year

Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Definite-Lived Intangible Assets, Estimated Future Amortization Expense
2019	$ 7,598
2020	7,547
2021	7,405
2022	7,405
2023	7,405
Thereafter	27,172
Definite-lived intangible assets	$ 64,532	$ 72,903

Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Debt Instrument [Line Items]
Long-term debt, gross	$ 564,300
Capitalized lease obligations	24,485	$ 11,985
Less current maturities	(2,567)	(1,558)
Long-term debt, less current portion and unamortized debt discount	570,545	561,980
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	564,300	568,575
Unamortized discount	(10,673)	(11,322)
Total term loans	553,627	557,253
Less current maturities	(5,000)	(5,700)
Term loans - non-current portion	548,627	551,553
Term Loan \| First Lien - Term Loan B, due November 20, 2024
Debt Instrument [Line Items]
Long-term debt, gross	364,300	568,575
Term Loan \| First Lien - Term Loan A, due October 9, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 200,000	$ 0

Long-term Debt - Narrative (Details)					12 Months Ended
Long-term Debt - Narrative (Details)	Oct. 09, 2018 USD ($)	Sep. 07, 2018	Nov. 20, 2017 USD ($)	Oct. 30, 2017 USD ($)	Dec. 29, 2018 USD ($)	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	Oct. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Feb. 02, 2017 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt					$ 200,000,000	$ 174,924,000	$ 0
Principal payments on long-term debt					$ 204,275,000	$ 367,660,000	$ 6,515,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity								$ 100,000,000	$ 75,000,000
Credit facility aggregate borrowings as component of total commitment (percent)			30.00%
Credit agreement ratio of debt To EBITDA			7.75
Line of Credit \| Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			3.00%
Line of Credit \| Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.00%
Line of Credit \| Revolving Credit Facility \| EBITDA Ratio 4.25 to 1.00 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.75%
Line of Credit \| Revolving Credit Facility \| EBITDA Ratio 4.25 to 1.00 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.75%
Line of Credit \| Revolving Credit Facility \| EBITDA Ratio 3.75 to 1.00 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.50%
Line of Credit \| Revolving Credit Facility \| EBITDA Ratio 3.75 to 1.00 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.50%
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Credit facility borrowing capacity			$ 20,000,000
First Lien Credit Agreement
Debt Instrument [Line Items]
Required prepayment as percentage of prior year excess cash flow			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			25.00%
First Lien Credit Agreement \| Term Loan
Debt Instrument [Line Items]
Borrowed funds										$ 175,000,000
First Lien - Term Loan B, due November 20, 2024 \| Term Loan
Debt Instrument [Line Items]
Borrowed funds			$ 570,000,000
Principal payments on long-term debt	$ 200,000,000			$ 235,000,000
First Lien - Term Loan B, due November 20, 2024 \| Term Loan \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)		2.50%	2.75%
First Lien - Term Loan B, due November 20, 2024 \| Term Loan \| Moody's credit rating lower than Ba3 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.75%
First Lien - Term Loan B, due November 20, 2024 \| Term Loan \| Moody's credit rating lower than Ba3 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.75%
First Lien - Term Loan B, due November 20, 2024 \| Term Loan \| Moody's credit rating Ba3 or better \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			2.50%
First Lien - Term Loan B, due November 20, 2024 \| Term Loan \| Moody's credit rating Ba3 or better \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)			1.50%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan
Debt Instrument [Line Items]
Borrowed funds	200,000,000
Proceeds from issuance of long-term debt	$ 200,000,000
Amortization per annum, year one through year three (percent)	2.50%
Amortization per annum, year four and thereafter (percent)	5.00%
Maximum allowable quarter end Consolidated Total Debt To Consolidated EBITDA Ratio	4.75
Maximum allowable quarter end Consolidated Interest Coverage Ratio	3
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.75%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Less Than 2.00 \| Maximum
Debt Instrument [Line Items]
Total leverage ratio	2
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Less Than 2.00 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.25%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Less Than 2.00 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.25%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Between 2.00 and 2.50 \| Maximum
Debt Instrument [Line Items]
Total leverage ratio	2.5
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Between 2.00 and 2.50 \| Minimum
Debt Instrument [Line Items]
Total leverage ratio	2.00
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Between 2.00 and 2.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.50%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Between 2.00 and 2.50 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.50%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Greater Than 2.50 \| Minimum
Debt Instrument [Line Items]
Total leverage ratio	2.50
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Greater Than 2.50 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
First Lien - Term Loan A, due October 9, 2023 \| Term Loan \| Total Leverage Ratio Greater Than 2.50 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.75%

Long-term Debt - Maturities of Debt (Details) $ in Thousands	Dec. 29, 2018 USD ($)
Long-term Debt, Fiscal Year Maturity
2019	$ 5,000
2020	5,000
2021	5,000
2022	10,000
2023	175,000
Thereafter	364,300
Total	$ 564,300

Long-term Debt - Future Minimum Lease Payments Under Capital Leases (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Debt Disclosure [Abstract]
2019	$ 5,786
2020	5,500
2021	5,395
2022	5,324
2023	4,346
Thereafter	13,062
Total minimum lease payments	39,413
Less: Amount representing interest	(14,928)
Present value of net minimum lease payments	24,485
Less: Current maturities of capital lease obligations	(2,567)	$ (1,558)
Capital lease obligations - non-current portion	$ 21,918

Stock Incentive Plans - 2014 Stock Incentive Plan Narrative (Details)	12 Months Ended
	Dec. 29, 2018 USD ($) anniversary $ / shares shares	Dec. 30, 2017 USD ($) $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares
Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense \| $	$ 3,100,000	$ 4,400,000	$ 4,300,000
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost \| $	$ 2,700,000
Unrecognized compensation costs, period for recognition	1 year 8 months 12 days
2014 Stock Incentive Plan \| Service-Based and Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options contractual maturity (years)	10 years
Aggregate number of shares reserved under the plan (shares)	10,988,827
Number of options outstanding (shares)	6,618,288
Number of shares available for future grants (shares)	468,975
2014 Stock Incentive Plan \| Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (shares)	4,143,781	6,524,152
Share-based compensation expense \| $	$ 16,100,000	$ 400,000	$ 0
Compensation from secondary offerings associated with long-term incentive plan \| $	$ 7,000,000
Number of options granted (shares)	0
Weighted average exercise price of options exercised (usd per share) \| $ / shares	$ 5.87	$ 3.68	$ 3.49
Fair value of options vested \| $	$ 16,100,000	$ 400,000
Number of shares vested (shares)			0
Intrinsic value of options exercised \| $	$ 70,200,000
Options exercised (shares)	2,051,033	0	0
2014 Stock Incentive Plan \| Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (shares)	2,474,507	3,822,915
Number of options granted (shares)	0
Weighted average exercise price of options exercised (usd per share) \| $ / shares	$ 5.67	$ 9.01	$ 8.58
Fair value of options vested \| $	$ 5,600,000	$ 4,600,000	$ 4,300,000
Intrinsic value of options exercised \| $	$ 39,600,000	$ 1,500,000	$ 300,000
Vesting percentage in annual increments	20.00%
Number of annual increments \| anniversary	5
Options exercised (shares)	1,278,223
2014 Stock Incentive Plan \| Service-Based \| Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	46.00%
2014 Stock Incentive Plan \| Service-Based \| Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	25.00%
2014 Stock Incentive Plan \| Service-Based \| Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	16.00%
2014 Stock Incentive Plan \| Service-Based \| Year Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual amortization percent for unrecognized compensation cost	9.00%
2014 Stock Incentive Plan \| 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 Valuation Assumptions (Details) - 2014 Stock Incentive Plan	12 Months Ended
	Dec. 29, 2018
Performance-Based
Fair Value Assumptions
Risk-free interest rate, minimum	1.19%
Risk-free interest rate, maximum	1.51%
Performance-Based \| Minimum
Fair Value Assumptions
Expected term	2 years 4 months 13 days
Expected volatility	46.90%
Performance-Based \| Maximum
Fair Value Assumptions
Expected term	5 years
Expected volatility	65.80%
Service-Based
Fair Value Assumptions
Expected term	6 years 6 months
Expected volatility	60.40%
Risk-free interest rate, minimum	1.60%
Risk-free interest rate, maximum	2.00%

Stock Incentive Plans - Stock Option Activity (Details) - 2014 Stock Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Performance-Based
Number of Options Outstanding
Outstanding, beginning balance (shares)	6,524,152
Exercised (shares)	(2,051,033)	0	0
Forfeited (shares)	(329,338)
Outstanding, ending balance (shares)	4,143,781	6,524,152
Vested and exercisable (shares)	1,737,952
Weighted Average Exercise Price ($)
Outstanding, beginning balance (usd per share)	$ 6.07
Exercised (usd per share)	5.87	$ 3.68	$ 3.49
Forfeited (usd per share)	5.33
Outstanding, ending balance (usd per share)	6.23	$ 6.07
Vested and exercisable (usd per share)	$ 5.87
Outstanding, weighted average remaining contractual term (years)	5 years 10 months 28 days
Vested and exercisable, weighted average remaining contractual term (years)	5 years 9 months 15 days
Outstanding, aggregate intrinsic value	$ 94,291
Vested and exercisable, aggregate intrinsic value	$ 40,172
Number of options granted (shares)	0
Service-Based
Number of Options Outstanding
Outstanding, beginning balance (shares)	3,822,915
Exercised (shares)	(1,278,223)
Forfeited (shares)	(70,185)
Outstanding, ending balance (shares)	2,474,507	3,822,915
Vested and exercisable (shares)	1,212,053
Weighted Average Exercise Price ($)
Outstanding, beginning balance (usd per share)	$ 7.22
Exercised (usd per share)	5.67	$ 9.01	$ 8.58
Forfeited (usd per share)	7.42
Outstanding, ending balance (usd per share)	8.02	$ 7.22
Vested and exercisable (usd per share)	$ 7.35
Outstanding, weighted average remaining contractual term (years)	6 years 3 months 4 days
Vested and exercisable, weighted average remaining contractual term (years)	5 years 9 months 22 days
Outstanding, aggregate intrinsic value	$ 51,877
Vested and exercisable, aggregate intrinsic value	$ 26,219
Number of options granted (shares)	0

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 - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (shares)		169,049
Vested and exercisable (shares)	16,430
Options exercised (shares)	152,619
Weighted average exercise price of options exercised (usd per share)	$ 1.66
Intrinsic value of options exercised	$ 6.1
Options outstanding, weighted average exercise price (usd per share)	$ 1.66
Terms of equity award (years)	P5Y2M12D
Aggregate intrinsic value	$ 0.5

Stock Incentive Plans - 2017 Omnibus Incentive Plan Narrative (Details) - 2017 Omnibus Incentive Plan - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Oct. 23, 2017	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares that may be issued under the plan (shares)	4,000,000
Options contractual maturity (years)	10 years
Number of options granted (shares)			92,443
Options granted exercise price (usd per share)			$ 22.00
Grant date fair value			$ 0.8
Weighted average remaining contractual term (years)		8 years 9 months 26 days
Aggregate intrinsic value		$ 0.6
Remaining unrecognized service cost		$ 0.5
Number of options that have vested (shares)		30,814
Intrinsic value of options that have vested		$ 0.2
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)			3 years
Share-based compensation expense		$ 0.3	$ 0.1
Remaining requisite service period (years)		1 year 9 months 26 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 1.4	$ 0.3
Equity instruments other than options granted (shares)			182,138
Equity instruments other than options, weighted average exercise price (usd per share)			$ 22.00
Aggregate grant date fair value			$ 4.0
Number of units vested (shares)		63,872
Number of units forfeited (shares)		20,190
Remaining requisite service period (years)		1 year 6 months 4 days
Remaining unrecognized service cost		$ 2.3
Restricted Stock Units \| Vesting in Two Equal Installments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted units (shares)			59,800
Restricted Stock Units \| Vesting in Three Equal Installments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted units (shares)			122,338
Restricted Stock \| Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (years)		3 years
Equity instruments other than options granted (shares)		7,193
Aggregate grant date fair value		$ 0.3
Remaining requisite service period (years)		2 years 4 months 24 days
Remaining unrecognized service cost		$ 0.2
Intrinsic value		$ 0.1

Stock Incentive Plans - Associate Stock Purchase Plan (Details) - $ / shares	Dec. 29, 2018	Jun. 06, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in usd per share)	$ 0.01		$ 0.01
Associate Stock Purchase Plan (ASPP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares reserved under the plan (shares)		850,000
Common stock, par value (in usd per share)		$ 0.01

Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Current income tax:
Federal	$ 174	$ 5	$ 51
State	381	1,082	1,302
Deferred income tax:
Federal	(15,687)	(40,136)	9,243
State	(3,653)	139	1,038
Income tax provision (benefit)	$ (18,785)	$ (38,910)	$ 11,634

Income Taxes - Reconciliation of Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax provision at statutory rate	$ 1,022	$ 1,480	$ 8,742
State income tax provision, net of federal income tax	226	165	973
Increase in deferred tax asset valuation allowance	318	769	979
Goodwill impairment	3,879	0	0
Benefit of tax legislation	0	(42,089)	0
Tax benefit of equity-based compensation deductions	(25,544)	0	0
Other, net	1,314	765	940
Income tax provision (benefit)	$ (18,785)	$ (38,910)	$ 11,634
Effective income tax rate (percent)	(385.90%)	(920.30%)	46.60%

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Deferred tax assets:
NOL carry-forwards	$ 13,614	$ 6,278
Deferred interest expense carry-forwards	4,655	0
AMT payment and employment credits	4,679	3,741
Deferred revenue	4,984	7,643
Accrued expenses and reserves	11,370	14,178
Loss on equity and other investments	1,493	1,175
Stock option compensation	5,893	6,606
Unrealized losses on hedging instruments	1,700	4,130
Other	1,193	4,222
Subtotal	49,581	47,973
Valuation allowances	1,614	1,296
Total net deferred tax assets	47,967	46,677
Deferred tax liabilities:
Depreciation of property and equipment	(32,631)	(37,877)
Amortization of intangible assets	(75,422)	(78,329)
Other	(1,854)	(2,397)
Total deferred tax liabilities	(109,907)	(118,603)
Net deferred tax liabilities	$ (61,940)	$ (71,926)

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 30, 2017	Dec. 29, 2018
Income Tax Disclosure [Abstract]
Tax benefit due to re-measurement of deferred taxes as a result of new tax legislation	$ 42,100,000
Operating Loss Carryforwards [Line Items]
Non-expiring AMT carryforward credits and employment credits	3,741,000	$ 4,679,000
Deferred tax asset associated with equity method affiliate		1,300,000
Deferred tax asset related to impairment of cost method investment		200,000
Unrecognized tax benefits	$ 0	0
U.S. federal
Operating Loss Carryforwards [Line Items]
NOL carryforwards		55,800,000
NOL carryforwards not subject to expiration		37,700,000
NOL carryforwards expiring at end of fiscal year 2019		5,100,000
NOL carryforwards expiring at end of fiscal year 2033		3,300,000
NOL carryforwards expiring at end of fiscal year 2037		9,700,000
AMT carryforward and employment credit \| U.S. federal and state
Operating Loss Carryforwards [Line Items]
Non-expiring AMT carryforward credits and employment credits		$ 4,700,000

Revenue From Contracts With Customers - Narrative (Details)	12 Months Ended
	Dec. 29, 2018
Disaggregation of Revenue [Line Items]
Time frame for majority of payments on health care plans and programs accounts (in days)	90 days
Owned & Host
Disaggregation of Revenue [Line Items]
Extended warranty plan, term (in years)	1 year
Minimum
Disaggregation of Revenue [Line Items]
General payment terms for accounts on health care plans and programs (in days)	14 days
Maximum
Disaggregation of Revenue [Line Items]
General payment terms for accounts on health care plans and programs (in days)	120 days

Revenue From Contracts With Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Total net revenue									1,397,801
Revenues recognized over time
Disaggregation of Revenue [Line Items]
Total net revenue									$ 139,053

Related Party Transactions - Transactions with Equity Sponsors (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 30, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
KCM
Related Party Transaction [Line Items]
Sponsor fees presented in debt issuance costs		$ 1,200
KKR
Related Party Transaction [Line Items]
Fees paid to equity sponsors	$ 3,600	0	$ 7,259	$ 851
Sponsor fees presented in debt issuance costs			2,300
Berkshire
Related Party Transaction [Line Items]
Fees paid to equity sponsors	$ 800	$ 0	$ 955	$ 199

Related Party Transactions - Dividend and Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Feb. 02, 2017	Dec. 29, 2018	Dec. 30, 2017
Related Party Transaction [Line Items]
Dividends paid per share of common stock (in usd per share)	$ 1.51
Common stock, outstanding (shares)	110,500	78,167	74,654
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 Investee - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Aug. 29, 2017
Equity Method Investee
Schedule of Equity Method Investments [Line Items]
Secured convertible promissory note receivable			$ 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)	0.75%
Investee
Schedule of Equity Method Investments [Line Items]
Equity interest in affiliate (percent)	28.00%
Investment in subsidiary	$ 1.0	$ 2.3

Equity in Net Assets of Non-Consolidated Investee - Financial Information of Investee (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Balance Sheet Information for Affiliate
Current assets	$ 2,197	$ 2,407
Non-current assets	558	557
Total assets	2,755	2,964
Current liabilities	6,321	1,046
Non-current liabilities	3,000	3,000
Total liabilities	9,321	4,046
Net assets	(6,566)	(1,082)
Income Statement Information for Affiliate
Revenues	3,871	6,244	$ 5,847
Net loss	(5,632)	(3,433)	(4,153)
National Vision’s share of net loss	$ (1,304)	$ (1,001)	$ (1,370)

Equity in Net Assets of Non-Consolidated Investee - Transactions with Non-Consolidated Investee (Details) - Equity Method Investee - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Aug. 29, 2017
Balance sheets
Prepaid expenses and other current assets	$ 0	$ 172
Other assets	1,522	1,518
Loan receivable				$ 1,500
Statements of operations
Licensing fees (SG&A)	172	955	$ 987
Other Assets
Balance sheets
Loan receivable	$ 1,500	$ 1,500

Fair Value Measurement of Financial Assets and Liabilities - Narrative (Details) - Level 2 - USD ($) $ in Millions	Dec. 29, 2018	Dec. 30, 2017
Term Loan \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 556.1	$ 570.2
Term Loan \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	553.6	557.3
Capital Lease Obligations \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	30.7	14.0
Capital Lease Obligations \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 24.5	$ 12.0

Deferred Revenue - Roll-Forward of Deferred Revenue (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2017	Dec. 29, 2018	Dec. 30, 2017
Roll Forward Of Contract Liability [Roll Forward]
Deferred revenue, beginning balance	$ 94,215	$ 94,215	$ 87,428
Sold		108,167	108,397
Revenue recognized		(104,328)	(101,610)
Deferred revenue, ending balance	68,439	72,278	94,215
Adjustment \| ASU No. 2014-09
Roll Forward Of Contract Liability [Roll Forward]
Adjustment for adoption of ASU 2014-09	(25,776)
Product Protection Plans
Roll Forward Of Contract Liability [Roll Forward]
Deferred revenue, beginning balance	26,731	26,731	23,855
Sold		58,860	54,028
Revenue recognized		(56,816)	(51,152)
Deferred revenue, ending balance	26,731	28,775	26,731
Product Protection Plans \| Adjustment \| ASU No. 2014-09
Roll Forward Of Contract Liability [Roll Forward]
Adjustment for adoption of ASU 2014-09	0
Eye Care Clubs
Roll Forward Of Contract Liability [Roll Forward]
Deferred revenue, beginning balance	67,430	67,430	63,478
Sold		47,923	46,443
Revenue recognized		(46,089)	(42,491)
Deferred revenue, ending balance	41,654	43,488	67,430
Eye Care Clubs \| Adjustment \| ASU No. 2014-09
Roll Forward Of Contract Liability [Roll Forward]
Adjustment for adoption of ASU 2014-09	(25,776)
HMO Memberships
Roll Forward Of Contract Liability [Roll Forward]
Deferred revenue, beginning balance	54	54	95
Sold		1,384	7,926
Revenue recognized		(1,423)	(7,967)
Deferred revenue, ending balance	54	$ 15	$ 54
HMO Memberships \| Adjustment \| ASU No. 2014-09
Roll Forward Of Contract Liability [Roll Forward]
Adjustment for adoption of ASU 2014-09	$ 0

Deferred Revenue - Current and Non-current Balances (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 31, 2017	Dec. 30, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Deferred revenue, current	$ 52,144		$ 62,993
Deferred revenue, noncurrent	20,134		31,222
Total	72,278	$ 68,439	94,215	$ 87,428
Product Protection Plans
Disaggregation of Revenue [Line Items]
Deferred revenue, current	28,403		26,312
Deferred revenue, noncurrent	372		419
Total	28,775	26,731	26,731	23,855
Eye Care Clubs
Disaggregation of Revenue [Line Items]
Deferred revenue, current	23,726		36,627
Deferred revenue, noncurrent	19,762		30,803
Total	43,488	41,654	67,430	63,478
HMO Memberships
Disaggregation of Revenue [Line Items]
Deferred revenue, current	15		54
Deferred revenue, noncurrent	0		0
Total	$ 15	$ 54	$ 54	$ 95

Deferred Revenue - Deferred Revenue Remaining Performance Obligation (Details) $ in Thousands	12 Months Ended
	Dec. 29, 2018 USD ($)
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 72,278
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 52,144
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated timing of recognition of performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 15,029
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated timing of recognition of performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 4,840
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated timing of recognition of performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 204
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated timing of recognition of performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Performance obligation remaining	$ 61
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated timing of recognition of performance obligation	1 year

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. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Loss Contingencies [Line Items]
Minimum purchase commitments with trade vendors				$ 8,000
401(k) plan expense				4,200	$ 3,100	$ 2,600
Charge for litigation settlement				0	$ 7,000	$ 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				$ 3,300

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Total rent expense related to operating leases	$ 89,600	$ 79,200	$ 71,300
Percentage rent included in total rental expense	5,800	6,100	6,300
Variable rent expense	18,000	$ 14,900	$ 13,900
Future Minimum Rental Payments Under Operating Leases by Fiscal Year
2019	69,372
2020	63,218
2021	56,219
2022	49,303
2023	42,545
Thereafter	126,388
Total	$ 407,045

Commitments and Contingencies - Warranty Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Movement in Product Warrant Liability Accounts
Beginning balance	$ 1,593	$ 1,343
Accrued obligation	29,943	26,806
Claims paid	(29,794)	(26,556)
Ending balance	$ 1,742	$ 1,593

Interest Rate Derivatives - Narrative (Details)	Dec. 29, 2018 USD ($) agreement	Mar. 31, 2018 USD ($)	Dec. 30, 2017 USD ($)
Derivative [Line Items]
Estimated reclassification from AOCL to earnings in next 12 months	$ 2,300,000
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	$ 465,000,000		$ 500,000,000
Interest Rate Swap One \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 140,000,000	$ 140,000,000	$ 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. 29, 2018	Dec. 30, 2017
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities, current	$ 3,130,000	$ 6,969,000
Fair value of derivative liabilities, noncurrent	3,505,000	9,155,000
Stranded tax benefit in AOCL		2,100,000
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional amount	465,000,000	500,000,000
Fair value of derivative liabilities, current	3,130,000	6,969,000
Fair value of derivative liabilities, noncurrent	3,505,000	9,155,000
Hedge position in AOCL, net of tax	$ 2,810,000	$ 9,868,000

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. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Weighted average shares outstanding for basic EPS	77,526	76,118	75,249	74,714	70,454	56,414	56,414	56,261	75,899	59,895	56,185
Effect of dilutive securities:
Stock options									3,129	2,140	817
Restricted Stock									13	0	0
Weighted average shares outstanding for diluted EPS	77,526	79,710	77,858	77,837	73,256	58,459	56,414	57,934	79,041	62,035	57,001
Basic EPS (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted EPS (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from EPS	3,130	0	0	0	0	0	2,036	218
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from EPS									0	254	88

Segment Reporting - Narrative (Details) $ in Thousands	3 Months Ended								12 Months Ended
Segment Reporting - Narrative (Details) $ in Thousands	Dec. 29, 2018 USD ($) store	Sep. 29, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 30, 2017 USD ($) store	Sep. 30, 2017 USD ($)	Jul. 01, 2017 USD ($)	Apr. 01, 2017 USD ($)	Dec. 29, 2018 USD ($) store segment	Dec. 30, 2017 USD ($) store	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment									2
Number of retail vision centers \| store	1,082				1,013				1,082	1,013
Net revenue \| $	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Legacy
Segment Reporting Information [Line Items]
Number of retail vision centers \| store	227								227
Legacy \| Management of operations
Segment Reporting Information [Line Items]
Net revenue \| $									$ 34,700	$ 36,700	$ 38,300
Customer Concentration Risk \| Sales revenue
Segment Reporting Information [Line Items]
Concentration risk (percent)									10.00%

Segment Reporting - Financial Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Total costs applicable to revenue	$ 173,470	$ 182,588	$ 177,059	$ 180,454	$ 152,393	$ 162,358	$ 156,408	$ 165,808	713,571	636,966	544,781
SG&A									687,476	600,010	525,869
Asset impairment									17,630	4,117	7,132
Debt issuance costs									200	4,527	0
Litigation settlement									0	7,000	0
Other expense, net									1,487	950	1,667
EBITDA									116,490	121,738	116,746
Depreciation and amortization									74,339	61,974	52,677
Interest expense, net									37,283	55,536	39,092
Earnings before income taxes									4,868	4,228	24,977
Products
Segment Reporting Information [Line Items]
Total net revenue									1,269,612	1,129,313	980,953
Total costs applicable to revenue									511,406	456,078	390,369
Services and plans
Segment Reporting Information [Line Items]
Total net revenue									267,242	245,995	215,242
Total costs applicable to revenue									202,165	180,888	154,412
Operating Segments \| Owned & Host
Segment Reporting Information [Line Items]
Total net revenue									1,173,402	1,038,567	889,408
Total costs applicable to revenue									459,082	402,239	340,112
SG&A									457,618	403,848	345,469
Asset impairment									0	0	0
Debt issuance costs									0	0
Litigation settlement										0
Other expense, net									0	0	0
EBITDA									256,702	232,480	203,827
Operating Segments \| Owned & Host \| Products
Segment Reporting Information [Line Items]
Total net revenue									956,355	847,866	730,741
Total costs applicable to revenue									280,720	248,548	212,208
Operating Segments \| Owned & Host \| Services and plans
Segment Reporting Information [Line Items]
Total net revenue									217,047	190,701	158,667
Total costs applicable to revenue									178,362	153,691	127,904
Operating Segments \| Legacy
Segment Reporting Information [Line Items]
Total net revenue									154,412	153,842	152,210
Total costs applicable to revenue									67,258	64,899	59,607
SG&A									54,091	52,705	52,925
Asset impairment									0	0	0
Debt issuance costs									0	0
Litigation settlement										0
Other expense, net									0	0	0
EBITDA									33,063	36,238	39,678
Operating Segments \| Legacy \| Products
Segment Reporting Information [Line Items]
Total net revenue									103,890	103,887	103,618
Total costs applicable to revenue									46,986	48,275	48,097
Operating Segments \| Legacy \| Services and plans
Segment Reporting Information [Line Items]
Total net revenue									50,522	49,955	48,592
Total costs applicable to revenue									20,272	16,624	11,510
Operating Segments \| Corporate/Other
Segment Reporting Information [Line Items]
Total net revenue									212,427	191,890	168,616
Total costs applicable to revenue									186,990	170,362	146,255
SG&A									175,767	143,457	127,475
Asset impairment									17,630	4,117	7,132
Debt issuance costs									200	4,527
Litigation settlement										7,000
Other expense, net									1,487	950	1,667
EBITDA									(169,647)	(138,523)	(113,913)
Operating Segments \| Corporate/Other \| Products
Segment Reporting Information [Line Items]
Total net revenue									208,875	179,718	151,083
Total costs applicable to revenue									183,459	159,789	131,257
Operating Segments \| Corporate/Other \| Services and plans
Segment Reporting Information [Line Items]
Total net revenue									3,552	12,172	17,533
Total costs applicable to revenue									3,531	10,573	14,998
Reconciling Items
Segment Reporting Information [Line Items]
Total net revenue									(3,387)	(8,991)	(14,039)
Total costs applicable to revenue									241	(534)	(1,193)
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									(3,628)	(8,457)	(12,846)
Reconciling Items \| Products
Segment Reporting Information [Line Items]
Total net revenue									492	(2,158)	(4,489)
Total costs applicable to revenue									241	(534)	(1,193)
Reconciling Items \| Services and plans
Segment Reporting Information [Line Items]
Total net revenue									(3,879)	(6,833)	(9,550)
Total costs applicable to revenue									$ 0	$ 0	$ 0

Segment Reporting - Net Product Revenue Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Revenue from External Customer [Line Items]
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Products
Revenue from External Customer [Line Items]
Total net revenue									1,269,612	1,129,313	980,953
Eyeglasses and sunglasses
Revenue from External Customer [Line Items]
Total net revenue									851,328	763,268	663,253
Contact lenses
Revenue from External Customer [Line Items]
Total net revenue									410,839	358,808	310,322
Accessories and other
Revenue from External Customer [Line Items]
Total net revenue									$ 7,445	$ 7,237	$ 7,378

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	$ 654,600	$ 399,581	$ 385,339
Ending balance	743,154	654,600	399,581
Cash Flow Hedges
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(9,868)	(14,556)	(11,284)
Other comprehensive income (loss) before reclassification	3,182	(1,051)	(5,116)
Tax effect of other comprehensive income (loss) before reclassification	(815)	436	1,844
Amount reclassified from AOCL	6,306	8,664	0
Tax effect of amount reclassified from AOCL	(1,615)	(3,361)	0
Net current period other comprehensive income (loss), net of tax	7,058	4,688	(3,272)
Ending balance	$ (2,810)	$ (9,868)	$ (14,556)

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Total costs applicable to revenue	173,470	182,588	177,059	180,454	152,393	162,358	156,408	165,808	713,571	636,966	544,781
Income (loss) from operations	(19,387)	(2,083)	24,973	38,848	(3,606)	15,816	13,059	39,022	42,351	64,291	64,069
Net income (loss)	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Weighted average shares outstanding for basic EPS	77,526	76,118	75,249	74,714	70,454	56,414	56,414	56,261	75,899	59,895	56,185
Weighted average shares outstanding for diluted EPS	77,526	79,710	77,858	77,837	73,256	58,459	56,414	57,934	79,041	62,035	57,001
Basic EPS (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted EPS (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Anti-dilutive options outstanding excluded from EPS	3,130	0	0	0	0	0	2,036	218

Quarterly Financial Information (Unaudited) - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) from operations	$ (19,387)	$ (2,083)	$ 24,973	$ 38,848	$ (3,606)	$ 15,816	$ 13,059	$ 39,022	$ 42,351	$ 64,291	$ 64,069
Net income (loss)	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	$ 23,653	$ 43,138	$ 13,343
Basic EPS (in usd per share)	$ (0.24)	$ 0.07	$ 0.17	$ 0.33	$ 0.39	$ 0.02	$ (0.03)	$ 0.30	$ 0.31	$ 0.72	$ 0.24
Diluted EPS (in usd per share)	$ (0.24)	$ 0.06	$ 0.16	$ 0.31	$ 0.37	$ 0.02	$ (0.03)	$ 0.29	$ 0.30	$ 0.70	$ 0.23
Immaterial Errors in Lease Accounting \| Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) from operations		$ (900)	$ (800)	$ (800)	$ (800)	$ (700)	$ (700)	$ (700)		$ (2,945)	$ (2,315)
Net income (loss)		$ (600)	$ (600)	$ (600)	$ (1,400)	$ (500)	$ (400)	$ (400)		$ (2,682)	$ (1,415)
Basic EPS (in usd per share)		$ (0.01)		$ (0.01)	$ (0.02)	$ (0.01)				$ (0.05)	$ (0.02)
Diluted EPS (in usd per share)		$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.01)				$ (0.04)	$ (0.03)

Condensed Financial Information of the Registrant - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Jan. 02, 2016
Current assets:
Cash and cash equivalents	$ 17,132	$ 4,208	$ 4,945
Total current assets	214,704	162,477
Total non-current assets	1,446,685	1,419,462
Total assets	1,661,389	1,581,939
Non-current liabilities:
Other non-current liabilities	53,964	50,902
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 78,246 and 74,654 shares issued as of December 29, 2018 and December 30, 2017, respectively; 78,167 and 74,654 shares outstanding as of December 29, 2018 and December 30, 2017, respectively	782	746
Additional paid-in capital	672,503	631,798
Accumulated other comprehensive loss	(2,810)	(9,868)
Retained earnings	74,840	32,157
Treasury stock, at cost; 79 and 28 shares as of December 29, 2018 and December 30, 2017, respectively	(2,161)	(233)
Total stockholders’ equity	743,154	654,600	399,581	$ 385,339
Total liabilities and stockholders’ equity	1,661,389	1,581,939
Parent Company
Current assets:
Cash and cash equivalents	246	23	$ 12	$ 765
Total current assets	246	23
Deferred income taxes	393	304
Investment in subsidiary	745,198	654,548
Total non-current assets	745,591	654,852
Total assets	745,837	654,875
Current liabilities:
Other current liabilities	65	46
Non-current liabilities:
Other non-current liabilities	2,618	229
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 78,246 and 74,654 shares issued as of December 29, 2018 and December 30, 2017, respectively; 78,167 and 74,654 shares outstanding as of December 29, 2018 and December 30, 2017, respectively	782	746
Additional paid-in capital	672,503	631,798
Accumulated other comprehensive loss	(2,810)	(9,868)
Retained earnings	74,840	32,157
Treasury stock, at cost; 79 and 28 shares as of December 29, 2018 and December 30, 2017, respectively	(2,161)	(233)
Total stockholders’ equity	743,154	654,600
Total liabilities and stockholders’ equity	$ 745,837	$ 654,875

Condensed Financial Information of the Registrant - Condensed Balance Sheets Additional Information (Details) - $ / shares	Dec. 29, 2018	Dec. 30, 2017	Oct. 30, 2017	Feb. 02, 2017
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	200,000,000	200,000,000	200,000,000
Common stock, issued (shares)	78,246,000	74,654,000
Common stock, outstanding (shares)	78,167,000	74,654,000		110,500,000
Treasury stock, at cost (shares)	79,000	28,000
Parent Company
Condensed Financial Statements, Captions [Line Items]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	200,000,000	200,000,000
Common stock, issued (shares)	78,246,000	74,654,000
Common stock, outstanding (shares)	78,167,000	74,654,000
Treasury stock, at cost (shares)	79,000	28,000

Condensed Financial Information of the Registrant - Condensed Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Total net revenue	$ 355,922	$ 387,425	$ 385,532	$ 407,975	$ 321,819	$ 346,089	$ 337,541	$ 369,859	$ 1,536,854	$ 1,375,308	$ 1,196,195
Cost applicable to revenue	173,470	182,588	177,059	180,454	152,393	162,358	156,408	165,808	713,571	636,966	544,781
Operating expenses									780,932	674,051	587,345
Loss before income taxes									4,868	4,228	24,977
Income tax provision (benefit)									(18,785)	(38,910)	11,634
Net income	(18,440)	5,171	12,467	24,455	27,341	1,089	(1,933)	16,641	23,653	43,138	13,343
Comprehensive income:
Net income	$ (18,440)	$ 5,171	$ 12,467	$ 24,455	$ 27,341	$ 1,089	$ (1,933)	$ 16,641	23,653	43,138	13,343
Unrealized gain (loss) on hedge instruments									9,488	7,613	(5,116)
Tax provision (benefit) of unrealized gain (loss) on hedge instruments									(2,430)	(2,925)	1,844
Comprehensive income									30,711	47,826	10,071
Parent Company
Condensed Financial Statements, Captions [Line Items]
Total net revenue									0	0	0
Cost applicable to revenue									0	0	0
Operating expenses									265	218	195
Loss before income taxes									(265)	(218)	(195)
Income tax provision (benefit)									(91)	(85)	(76)
Loss before equity in net income of subsidiaries									(174)	(133)	(119)
Net income of subsidiaries									23,827	43,271	13,462
Net income									23,653	43,138	13,343
Comprehensive income:
Net income									23,653	43,138	13,343
Comprehensive income									$ 30,711	$ 47,826	$ 10,071

Condensed Financial Information of the Registrant - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net cash provided by (used for) operating activities	$ 106,628	$ 90,252	$ 97,588
Cash flows from investing activities:
Net cash used for investing activities	(104,221)	(94,583)	(90,972)
Cash flows from financing activities:
Proceeds from issuance of common stock	19,802	373,024	915
Purchase of treasury stock	(1,928)	0	(188)
Dividend to stockholders	0	(170,983)	0
Other	0	0	(199)
Net cash provided by (used for) financing activities	10,397	3,838	(6,574)
Cash and cash equivalents, beginning of year	4,208	4,945
Cash and cash equivalents, end of year	17,132	4,208	4,945
Parent Company
Cash flows from operating activities:
Net cash provided by (used for) operating activities	223	11	(564)
Cash flows from investing activities:
Dividend from subsidiary	0	170,983	167
Investment in subsidiary	(19,802)	(373,024)	(884)
Net cash used for investing activities	(19,802)	(202,041)	(717)
Cash flows from financing activities:
Proceeds from stock option exercises and employee stock purchase plan	19,802	1,092	915
Proceeds from issuance of common stock	0	371,932	0
Dividend to stockholders	0	(170,983)	0
Other	0	0	(387)
Net cash provided by (used for) financing activities	19,802	202,041	528
Net change in cash and cash equivalents	223	11	(753)
Cash and cash equivalents, beginning of year	23	12	765
Cash and cash equivalents, end of year	$ 246	$ 23	$ 12

Condensed Financial Information of the Registrant - Notes to Condensed Financial Statements (Details) - USD ($)			12 Months Ended
	Oct. 09, 2018	Oct. 30, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016	Nov. 20, 2017	Oct. 31, 2017	Sep. 30, 2017	Feb. 02, 2017
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt			$ 204,275,000	$ 367,660,000	$ 6,515,000
Long-term debt, gross			564,300,000
Term Loan
Condensed Financial Statements, Captions [Line Items]
Long-term debt, gross			564,300,000	568,575,000
Term Loan \| First Lien Credit Agreement
Condensed Financial Statements, Captions [Line Items]
Borrowed funds									$ 175,000,000
Term Loan \| Second Lien Term Loans
Condensed Financial Statements, Captions [Line Items]
Repayments of long-term debt		$ 125,000,000
Term Loan \| First Lien Term Loans
Condensed Financial Statements, Captions [Line Items]
Borrowed funds						$ 570,000,000
Repayments of long-term debt	$ 200,000,000	$ 235,000,000
Long-term debt, gross			364,300,000	$ 568,575,000
Line of Credit \| Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Credit facility borrowing capacity							$ 100,000,000	$ 75,000,000
Amount outstanding on line of credit			0
Outstanding letters of credit			$ 5,500,000

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 19,030,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	673,630,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	742,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	986,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	866,000
Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 746,000
Shares Outstanding, Adjusted Balance	eye_SharesOutstandingAdjustedBalance	74,654,000
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 631,798,000
AOCI Attributable to Parent [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(9,868,000)
Treasury Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	(233,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	19,030,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1	$ 51,187,000