Sale Of Certain Company-Owned Stores

9 Months Ended

Sep. 11, 2011

Sale Of Certain Company-Owned Stores [Abstract]

Sale Of Certain Company-Owned Stores

8. Sale of Certain Company-Owned Stores

During the third quarter of 2011, the Company sold 30 Company-owned stores to four franchisees in a series of transactions. In connection with the sale of these 30 stores, the Company recognized a gain on the sale of assets of approximately $0.8 million, which was net of a reduction in goodwill of approximately $0.3 million. Additionally, the Company incurred other related expenses of approximately $0.3 million. These items were recorded in general and administrative expense in the Company's condensed consolidated statements of income. These transactions will not have a material ongoing impact on the Company's consolidated financial results.

During the first three quarters of 2011, the Company sold 56 Company-owned stores to multiple franchisees. In connection with the sale of these 56 stores, the Company recognized gains on the sale of assets of approximately $1.9 million, which was net of a reduction in goodwill of approximately $0.7 million. Additionally, the Company incurred other related expenses of approximately $0.3 million. These items were recorded in general and administrative expense in the Company's condensed consolidated statements of income. These transactions will not have a material ongoing impact on the Company's consolidated financial results.