THE CHEESECAKE FACTORY INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

										Unrealized
										Gain (Loss) on
				Additional						Available-
	Common			Paid-in			Retained			for-Sale			Treasury
(In Thousands)	Stock			Capital			Earnings			Securities			Stock			Total
Balances, January 2, 2001	$	319		$	147,694		$	99,581		$	365		$	(7,123	)	$	240,836
Comprehensive income:
Net income		–			–			39,309			–			–
Net unrealized gain		–			–			–			165			–
Total comprehensive income																	39,474
Three-for-two stock split		161			–			(161	)		–			–			–
Issuance of common stock from
exercise of stock options		6			5,854			–			–			–			5,860
Tax benefit related to stock options
exercised		–			5,527			–			–			–			5,527
Purchase of treasury stock		–			–			–			–			(2,198	)		(2,198	)
Dividends paid for fractional shares		–			–			(28	)		–			–			(28	)
Balances, January 1, 2002		486			159,075			138,701			530			(9,321	)		289,471
Comprehensive income:
Net income		–			–			49,075			–			–
Net unrealized gain		–			–			–			1,134			–
Total comprehensive income																	50,209
Issuance of common stock from
exercise of stock options		24			21,558			–			–			–			21,582
Tax benefit related to stock options
exercised		–			25,361			–			–			–			25,361
Purchase of treasury stock		–			–			–			–			(7,059	)		(7,059	)
Balances, December 31, 2002		510			205,994			187,776			1,664			(16,380	)		379,564
Comprehensive income:
Net income		–			–			57,836			–			–
Net unrealized loss		–			–			–			(1,825	)		–
Total comprehensive income																	56,011
Issuance of common stock from exercise
of stock options		11			12,644			–			–			–			12,655
Tax benefit related to stock options
exercised		–			10,519			–			–			–			10,519
Purchase of treasury stock		–			–			–			–			(847	)		(847	)
Balances, December 30, 2003	$	521		$	229,157		$	245,612		$	(161	)	$	(17,227	)	$	457,902

See the accompanying notes to the consolidated financial statements.