New Accounting Pronouncements (Tables)

8 Months Ended

Sep. 09, 2018

Accounting Changes and Error Corrections [Abstract]

Cumulative Effects of Changes Made to Consolidated Balance Sheet

The cumulative effects of the changes made to the Company’s consolidated balance sheet as of January 1, 2018 for the adoption of ASC 606 were as follows (in thousands):

	Balance at December 31, 2017			Adjustments Due to ASC 606			Balance at January 1, 2018
Assets
Other assets:
Deferred income taxes	$	2,750		$	1,878		$	4,628
Liabilities and stockholders’ deficit
Current liabilities:
Advertising fund liabilities		120,223			(6,425	)		113,798
Other accrued liabilities		58,578			2,365			60,943
Long-term liabilities:
Other accrued liabilities		21,751			12,639			34,390
Stockholders’ deficit:
Retained deficit		(2,739,437	)		(6,701	)		(2,746,138	)

Impact of Adoption on Company's Condensed Consolidated Statement of Income and Condensed Consolidated Balance Sheet

In accordance with the new revenue standard requirements, the impact of adoption on the Company’s condensed consolidated statement of income for the third quarter and three fiscal quarters of 2018 and condensed consolidated balance sheet as of September 9, 2018 was as follows (in thousands):

	Fiscal Quarter Ended September 9, 2018
	As Reported			Balances without the Adoption of ASC 606			Effect of Change Higher/ (Lower)
Revenues:
Domestic franchise royalties and fees	$	89,427		$	93,316		$	(3,889	)
International franchise royalties and fees		50,424			50,497			(73	)
Domestic franchise advertising		82,478			—			82,478
General and administrative		80,369			84,410			(4,041	)
Domestic franchise advertising		82,478			—			82,478
Income from operations		132,432			132,352			80
Income before provision for income taxes		99,248			99,168			80
Provision for income taxes		15,153			15,135			18
Net income		84,095			84,033			62
	Three Fiscal Quarters Ended September 9, 2018
	As Reported			Balances without the Adoption of ASC 606			Effect of Change Higher/ (Lower)
Revenues:
Domestic franchise royalties and fees	$	266,335		$	278,600		$	(12,265	)
International franchise royalties and fees		154,182			154,213			(31	)
Domestic franchise advertising		245,618			—			245,618
General and administrative		251,053			263,504			(12,451	)
Domestic franchise advertising		245,618			—			245,618
Income from operations		392,053			391,898			155
Income before provision for income taxes		294,115			293,960			155
Provision for income taxes		43,785			43,750			35
Net income		250,330			250,210			120
	At September 9, 2018
	As Reported			Balances without the Adoption of ASC 606			Effect of Change Higher/ (Lower)
Assets
Other assets:
Deferred income taxes	$	2,914		$	1,071		$	1,843
Liabilities and stockholders’ deficit
Current liabilities:
Advertising fund liabilities		112,222			118,833			(6,611	)
Other accrued liabilities		95,729			93,261			2,468
Long-term liabilities:
Other accrued liabilities		37,815			25,248			12,567
Stockholders’ deficit:
Retained deficit		(2,972,565	)		(2,965,984	)		(6,581	)