Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2016

Fair Value Disclosures [Abstract]

Carrying amounts and fair values of certain assets

The following tables summarize the carrying amounts and fair values of certain assets at June 28, 2016 and December 29, 2015, (in thousands):

	June 28, 2016
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Equities(1)	$	9,918	$	9,918	$	—	$	—
Fixed income(1)	4,970		—		4,970		—
Money market fund(2)	51,895		—		51,895		—
	December 29, 2015
	Carrying Amount		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Equities(1)	$	10,385	$	10,385	$	—	$	—
Fixed income(1)	3,748		—		3,748		—
Money market fund(2)	29,584		—		29,584		—

⁽¹⁾  These investments relate to the Deferred Compensation Plan and the POWR Plan and are located in the other assets line item on the Consolidated Balance Sheets. The investments categorized as Level 2 in the fair value hierarchy are valued by using available market information which includes quoted market prices for identical or similar assets in non-active markets.

⁽²⁾  At June 28, 2016 and December 29, 2015, $0.9 million and $1.5 million, respectively, of the balances in the money market fund related to the Deferred Compensation and POWR Plans and were located in the other assets line item on the Consolidated Balance Sheets. The remaining balances in the money market fund were short-term in nature and were classified in cash and cash equivalents on the Consolidated Balance Sheets. Money market funds are valued at amortized cost which reflects the market-based fair value.

Estimated fair value of outstanding borrowings

The estimated fair value of the Company’s outstanding borrowings was as follows (in thousands):

	June 28, 2016		December 29, 2015
Term Loan	$	388,635	$	389,670
Senior Notes	197,294		195,087
Revolving Facility	—		—
	$	585,929	$	584,757
Carrying value	$	578,414	$	581,169

Details of impairment of long-lived assets held and used by asset

The table below summarizes restaurant-level impairment (Level 3) for the periods presented (in thousands):

	13 Weeks Ended				26 Weeks Ended
	June 28, 2016		June 30, 2015		June 28, 2016		June 30, 2015
Total asset impairments and closures	$	2,253	$	3,730	$	2,574	$	4,677

Impaired assets to be disposed of by method other than sale

The table below summarizes restaurant-level impairment (Level 3) for the periods presented (in thousands):

	13 Weeks Ended				26 Weeks Ended
	June 28, 2016		June 30, 2015		June 28, 2016		June 30, 2015
Total asset impairments and closures	$	2,253	$	3,730	$	2,574	$	4,677