SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

6 Months Ended

12 Months Ended

Dec. 04, 2012

Jun. 05, 2012

Supplemental Condensed Consolidating Financial Statements [Abstract]

Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 4, 2012

(IN THOUSANDS)

	Parent		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	25,379	$	215	$	–		$	25,594
Accounts receivable		2,975		3,797		–			6,772
Inventories		28,196		11,149		–			39,345
Income tax receivable		112,739		–		(110,917	)		1,822
Deferred income taxes		20,760		9,314		–			30,074
Other current assets		12,455		4,538		–			16,993
Total current assets		202,504		29,013		(110,917	)		120,600
Property and equipment, net		679,413		231,485		–			910,898
Goodwill		9,022		–		–			9,022
Investment in subsidiaries		206,244		–		(206,244	)		–
Due from/(to) subsidiaries		74,813		252,080		(326,893	)		–
Other assets		46,649		21,971		–			68,620
Total assets	$	1,218,645	$	534,549	$	(644,054	)	$	1,109,140

	Parent			Guarantors		Eliminations			Consolidated
Liabilities & Shareholders' Equity
Current liabilities:
Accounts payable	$	21,070		$	7,571	$	–		$	28,641
Accrued and other current liabilities		51,586			33,220		–			84,806
Current maturities of long-term debt,
including capital leases		(339	)		10,327		–			9,988
Income tax payable		–			110,917		(110,917	)		–
Total current liabilities		72,317			162,035		(110,917	)		123,435
Long-term debt and capital leases,
less current maturities		235,721			62,988		–			298,709
Deferred income taxes		7,334			12,524		–			19,858
Due to/(from) subsidiaries		252,080			74,813		(326,893	)		–
Other deferred liabilities		105,272			15,945		–			121,217
Total liabilities		672,724			328,305		(437,810	)		563,219
Shareholders' equity:
Common stock	$	621		$	–	$	–		$	621
Capital in excess of par value		72,281			–		–			72,281
Retained earnings		486,516			206,244		(206,244	)		486,516
Accumulated other comprehensive loss		(13,497	)		–		–			(13,497	)
Total shareholders' equity		545,921			206,244		(206,244	)		545,921
Total liabilities & shareholders' equity	$	1,218,645		$	534,549	$	(644,054	)	$	1,109,140

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF JUNE 5, 2012

(IN THOUSANDS)

	Parent		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	47,986	$	198	$	–		$	48,184
Accounts receivable		2,234		2,466		–			4,700
Inventories		20,896		8,134		–			29,030
Income tax receivable		97,290		–		(96,453	)		837
Deferred income taxes		19,030		8,104		–			27,134
Other current assets		15,216		3,167		–			18,383
Total current assets		202,652		22,069		(96,453	)		128,268
Property and equipment, net		727,379		239,226		–			966,605
Goodwill		7,989		–		–			7,989
Investment in subsidiaries		204,386		–		(204,386	)		–
Due from/(to) subsidiaries		78,799		245,257		(324,056	)		–
Other assets		47,144		23,531		–			70,675
Total assets	$	1,268,349	$	530,083	$	(624,895	)	$	1,173,537

	Parent			Guarantors		Eliminations			Consolidated
Liabilities & Shareholders' Equity
Current liabilities:
Accounts payable	$	28,302		$	6,646	$	–		$	34,948
Accrued and other current liabilities		55,301			29,521		–			84,822
Current maturities of long-term debt,
including capital leases		(344	)		12,798		–			12,454
Income tax payable		–			96,453		(96,453	)		–
Total current liabilities		83,259			145,418		(96,453	)		132,224
Long-term debt and capital leases,
less current maturities		246,892			67,317		–			314,209
Deferred income taxes		20,910			16,657		–			37,567
Due to/(from) subsidiaries		245,257			78,799		(324,056	)		–
Other deferred liabilities		95,807			17,506		–			113,313
Total liabilities		692,125			325,697		(420,509	)		597,313
Shareholders' equity:
Common stock	$	640		$	–	$	–		$	640
Capital in excess of par value		90,856			–		–			90,856
Retained earnings		498,985			204,386		(204,386	)		498,985
Accumulated other comprehensive loss		(14,257	)		–		–			(14,257	)
Total shareholders' equity		576,224			204,386		(204,386	)		576,224
Total liabilities & shareholders' equity	$	1,268,349		$	530,083	$	(624,895	)	$	1,173,537

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF JUNE 5, 2012

(IN THOUSANDS)

	Parent		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	47,986	$	198	$	–		$	48,184
Accounts receivable		2,234		2,466		–			4,700
Inventories		20,896		8,134		–			29,030
Income tax receivable		97,290		–		(96,453	)		837
Deferred income taxes		19,030		8,104		–			27,134
Other current assets		15,216		3,167		–			18,383
Total current assets		202,652		22,069		(96,453	)		128,268
Property and equipment, net		727,379		239,226		–			966,605
Goodwill		7,989		–		–			7,989
Investment in subsidiaries		204,386		–		(204,386	)		–
Due from/(to) subsidiaries		78,799		245,257		(324,056	)		–
Other assets		47,144		23,531		–			70,675
Total assets	$	1,268,349	$	530,083	$	(624,895	)	$	1,173,537

	Parent			Guarantors		Eliminations			Consolidated
Liabilities & Shareholders' Equity
Current liabilities:
Accounts payable	$	28,302		$	6,646	$	–		$	34,948
Accrued and other current liabilities		55,301			29,521		–			84,822
Current maturities of long-term debt,
including capital leases		(344	)		12,798		–			12,454
Income tax payable		–			96,453		(96,453	)		–
Total current liabilities		83,259			145,418		(96,453	)		132,224
Long-term debt and capital leases,
less current maturities		246,892			67,317		–			314,209
Deferred income taxes		20,910			16,657		–			37,567
Due to/(from) subsidiaries		245,257			78,799		(324,056	)		–
Other deferred liabilities		95,807			17,506		–			113,313
Total liabilities		692,125			325,697		(420,509	)		597,313
Shareholders' equity:
Common stock	$	640		$	–	$	–		$	640
Capital in excess of par value		90,856			–		–			90,856
Retained earnings		498,985			204,386		(204,386	)		498,985
Accumulated other comprehensive loss		(14,257	)		–		–			(14,257	)
Total shareholders' equity		576,224			204,386		(204,386	)		576,224
Total liabilities & shareholders' equity	$	1,268,349		$	530,083	$	(624,895	)	$	1,173,537

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF MAY 31, 2011

(IN THOUSANDS)

	Parent		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	9,490	$	232	$	–		$	9,722
Accounts receivable		3,360		4,171		–			7,531
Inventories		24,619		9,851		–			34,470
Income tax receivable		72,608		–		(69,531	)		3,077
Deferred income taxes		10,246		4,183		–			14,429
Other current assets		11,308		2,829		–			14,137
Total current assets		131,631		21,266		(69,531	)		83,366
Property and equipment, net		779,718		251,433		–			1,031,151
Goodwill		1,440		14,131		–			15,571
Investment in subsidiaries		225,054		–		(225,054	)		–
Due from/(to) subsidiaries		46,861		232,161		(279,022	)		–
Other assets		41,924		15,014		–			56,938
Total assets	$	1,226,628	$	534,005	$	(573,607	)	$	1,187,026

	Parent			Guarantors		Eliminations			Consolidated
Liabilities & Shareholders' Equity
Current liabilities:
Accounts payable	$	24,693		$	5,114	$	–		$	29,807
Accrued and other current liabilities		48,650			25,777		–			74,427
Current maturities of long-term debt,
including capital leases		–			15,090		–			15,090
Income tax payable		–			69,531		(69,531	)		–
Total current liabilities		73,343			115,512		(69,531	)		119,324
Long-term debt and capital leases,
less current maturities		221,630			107,554		–			329,184
Deferred income taxes		20,396			22,527		–			42,923
Due to/(from) subsidiaries		232,161			46,861		(279,022	)		–
Other deferred liabilities		87,385			16,497		–			103,882
Total liabilities		634,915			308,951		(348,553	)		595,313
Shareholders' equity:
Common stock	$	651		$	–	$	–		$	651
Capital in excess of par value		104,941			–		–			104,941
Retained earnings		499,173			225,054		(225,054	)		499,173
Accumulated other comprehensive loss		(13,052	)		–		–			(13,052	)
Total shareholders' equity		591,713			225,054		(225,054	)		591,713
Total liabilities & shareholders' equity	$	1,226,628		$	534,005	$	(573,607	)	$	1,187,026

Operations

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND

COMPREHENSIVE LOSS

THIRTEEN WEEKS ENDED DECEMBER 4, 2012

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	220,193		$	82,560		$	–		$	302,753
Franchise revenue		41			1,439			–			1,480
		220,234			83,999			–			304,233
Operating costs and expenses:
Cost of merchandise		61,388			22,909			–			84,297
Payroll and related costs		73,437			29,351			–			102,788
Other restaurant operating costs		48,027			18,969			–			66,996
Depreciation		11,201			3,919			–			15,120
Selling, general, and administrative		25,381			13,577			–			38,958
Intercompany selling, general and
administrative allocations		16,442			(16,442	)		–			–
Closures and impairments		17,643			608			–			18,251
Equity in earnings of subsidiaries		(8,854	)		–			8,854			–
Interest expense, net		5,757			1,424			–			7,181
Intercompany interest expense/(income)		3,435			(3,435	)		–			–
Gain on extinguishment of debt		(571	)		–			–			(571	)
		253,286			70,880			8,854			333,020
(Loss)/income before income taxes		(33,052	)		13,119			(8,854	)		(28,787	)
(Benefit)/provision for income taxes		(17,984	)		4,265			–			(13,719	)
Net (loss)/income	$	(15,068	)	$	8,854		$	(8,854	)	$	(15,068	)
Other comprehensive income:
Pension liability reclassification, net of tax		380			–			–			380
Total comprehensive (loss)/income	$	(14,688	)	$	8,854		$	(8,854	)	$	(14,688	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND

COMPREHENSIVE LOSS

TWENTY-SIX WEEKS ENDED DECEMBER 4, 2012

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	462,916		$	171,102		$	–		$	634,018
Franchise revenue		133			3,003			–			3,136
		463,049			174,105			–			637,154
Operating costs and expenses:
Cost of merchandise		127,172			46,650			–			173,822
Payroll and related costs		151,536			60,486			–			212,022
Other restaurant operating costs		96,039			38,113			–			134,152
Depreciation		22,665			7,847			–			30,512
Selling, general, and administrative		54,808			27,579			–			82,387
Intercompany selling, general, and
administrative allocations		34,484			(34,484	)		–			–
Closures and impairments		18,507			868			–			19,375
Equity in earnings of subsidiaries		(20,814	)		–			20,814			–
Interest expense, net		11,057			2,914			–			13,971
Intercompany interest expense/(income)		6,822			(6,822	)		–			–
Gain on extinguishment of debt		(571	)		–			–			(571	)
		501,705			143,151			20,814			665,670
(Loss)/income before income taxes		(38,656	)		30,954			(20,814	)		(28,516	)
(Benefit)/provision for income taxes		(26,187	)		10,140			–			(16,047	)
Net (loss)/income	$	(12,469	)	$	20,814		$	(20,814	)	$	(12,469	)
Other comprehensive income:
Pension liability reclassification, net of tax		761			–			–			761
Total comprehensive (loss)/income	$	(11,708	)	$	20,814		$	(20,814	)	$	(11,708	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND

COMPREHENSIVE LOSS

THIRTEEN WEEKS ENDED NOVEMBER 29, 2011

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	221,244		$	84,911		$	–		$	306,155
Franchise revenue		37			1,213			–			1,250
		221,281			86,124			–			307,405
Operating costs and expenses:
Cost of merchandise		66,090			25,472			–			91,562
Payroll and related costs		74,196			31,618			–			105,814
Other restaurant operating costs		45,850			18,951			–			64,801
Depreciation		12,175			4,239			–			16,414
Selling, general, and administrative		16,693			8,717			–			25,410
Intercompany selling, general, and
administrative allocations		16,598			(16,598	)		–			–
Closures and impairments		659			(6	)		–			653
Equity in earnings of subsidiaries		(9,161	)		–			9,161			–
Interest expense, net		2,430			2,068			–			4,498
Intercompany interest expense/(income)		3,251			(3,251	)
		228,781			71,210			9,161			309,152
(Loss)/income before income taxes		(7,500	)		14,914			(9,161	)		(1,747	)
(Benefit)/provision for income taxes		(5,499	)		5,753			–			254
Net (loss)/income	$	(2,001	)	$	9,161		$	(9,161	)	$	(2,001	)
Other comprehensive income:
Pension liability reclassification, net of tax		308			–			–			308
Total comprehensive (loss)/income	$	(1,693	)	$	9,161		$	(9,161	)	$	(1,693	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND

COMPREHENSIVE LOSS

TWENTY-SIX WEEKS ENDED NOVEMBER 29, 2011

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	458,688		$	176,321		$	–		$	635,009
Franchise revenue		112			2,629			–			2,741
		458,800			178,950			–			637,750
Operating costs and expenses:
Cost of merchandise		136,534			52,603			–			189,137
Payroll and related costs		151,972			64,703			–			216,675
Other restaurant operating costs		94,176			39,362			–			133,538
Depreciation		24,278			8,422			–			32,700
Selling, general, and administrative		35,529			18,268			–			53,797
Intercompany selling, general, and
administrative allocations		34,389			(34,389	)		–			–
Closures and impairments		1,091			7			–			1,098
Equity in earnings of subsidiaries		(20,401	)		–			20,401			–
Interest expense, net		4,684			4,211			–			8,895
Intercompany interest expense/(income)		6,494			(6,494	)		–			–
		468,746			146,693			20,401			635,840
(Loss)/income before income taxes		(9,946	)		32,257			(20,401	)		1,910
(Benefit)/provision for income taxes		(11,038	)		11,856			–			818
Net income/(loss)	$	1,092		$	20,401		$	(20,401	)	$	1,092
Other comprehensive income:
Pension liability reclassification, net of tax		616			–			–			616
Total comprehensive income	$	1,708		$	20,401		$	(20,401	)	$	1,708

Cash Flow

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

TWENTY-SIX WEEKS ENDED DECEMBER 4, 2012

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	(15,104	)	$	27,846		$	(12,133	)	$	609
Investing activities:
Purchases of property and equipment		(14,936	)		(3,569	)		–			(18,505	)
Proceeds from sale-leaseback transactions, net		30,408			–			–			30,408
Proceeds from disposal of assets		885			1,200			–			2,085
Other, net		126			–			–			126
Net cash provided/(used) by investing activities		16,483			(2,369	)		–			14,114
Financing activities:
Principal payments on long-term debt		(10,981	)		(6,504	)		–			(17,485	)
Stock repurchases		(20,012	)		–			–			(20,012	)
Proceeds from exercise of stock options		173			–			–			173
Excess tax benefits from share-based
compensation		11			–			–			11
Intercompany transactions		6,823			(18,956	)		12,133			–
Net cash used by financing activities		(23,986	)		(25,460	)		12,133			(37,313	)
(Decrease)/increase in cash and cash equivalents		(22,607	)		17			–			(22,590	)
Cash and cash equivalents:
Beginning of year		47,986			198			–			48,184
End of year	$	25,379		$	215		$	–		$	25,594

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

TWENTY-SIX WEEKS ENDED NOVEMBER 29, 2011

(IN THOUSANDS)

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	17,789		$	40,250		$	(21,054	)	$	36,985
Investing activities:
Purchases of property and equipment		(14,404	)		(6,260	)		–			(20,664	)
Proceeds from disposal of assets		1,367			160			–			1,527
Insurance proceeds from property claims		1,548			–			–			1,548
Other, net		(293	)		–			–			(293	)
Net cash used by investing activities		(11,782	)		(6,100	)		–			(17,882	)
Financing activities:
Net payments on revolving credit facility		5,000			–			–			5,000
Principal payments on long-term debt		(13	)		(6,632	)		–			(6,645	)
Stock repurchases		(18,441	)		–			–			(18,441	)
Proceeds from exercise of stock options		123			–			–			123
Excess tax benefits from share-based
compensation		24			–			–			24
Intercompany transactions		6,495			(27,549	)		21,054			–
Net cash used by financing activities		(6,812	)		(34,181	)		21,054			(19,939	)
Decrease in cash and cash equivalents		(805	)		(31	)		–			(836	)
Cash and cash equivalents:
Beginning of year		9,490			232			–			9,722
End of year	$	8,685		$	201		$	–		$	8,886