REFRANCHISING

12 Months Ended

Dec. 29, 2024

Refranchising [Abstract]

REFRANCHISING

REFRANCHISING

As part of its ongoing franchising efforts, the Company may, from time to time, make opportunistic acquisitions of operating restaurants in order to convert them to franchise locations or acquire existing franchise locations to resell to another franchisee across all of its brands.

The following assets used in the operation of certain restaurants meet all of the criteria requiring that they be classified as held- for-sale, and have been classified accordingly on the accompanying consolidated balance sheets as of December 29, 2024 and December 31, 2023 (in millions):

	December 29, 2024		December 31, 2023
Property, plant and equipment	$	—	$	0.7
Operating lease right-of-use assets	0.4		3.1
Total	$	0.4	$	3.8

Operating lease liabilities related to the assets classified as held-for-sale in the amount of $0.4 million and $3.4 million, have been classified as current liabilities on the accompanying consolidated balance sheets as of December 29, 2024 and December 31, 2023, respectively.

The following table highlights the operating results of the Company’s refranchising program during 2024 and 2023 (in millions):

	Twelve Months Ended
	December 29, 2024		December 31, 2023
Restaurant costs and expenses, net of revenue	$	0.9	3.0
Loss (gains) on store sales or closures	1.0		(0.1)
Refranchising loss	$	1.9	$	2.9