Note P - Supplemental Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Sep. 03, 2013

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	35,545		$	308	–			$	35,853
Accounts receivable		2,212			2,329	–				4,541
Inventories		20,463			8,305	–				28,768
Income tax receivable		124,524		–			(121,190	)		3,334
Deferred income taxes		3,083			3,081	–				6,164
Other current assets		19,569			2,604	–				22,173
Total current assets		205,396			16,627		(121,190	)		100,833
Property and equipment, net		623,643			221,388	–				845,031
Investment in subsidiaries		160,537		–			(160,537	)	–
Due from/(to) subsidiaries		89,015			233,769		(322,784	)	–
Other assets		46,527			14,698	–				61,225
Total assets	$	1,125,118		$	486,482	$	(604,511	)	$	1,007,089
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	18,021		$	5,844	–			$	23,865
Accrued and other current liabilities		52,345			33,602	–				85,947
Current maturities of long-term debt, including capital leases		(334	)		6,464	–				6,130
Income tax payable	–				121,190		(121,190	)	–
Total current liabilities		70,032			167,100		(121,190	)		115,942
Long-term debt and capital leases, less current maturities		219,821			48,709	–				268,530
Deferred income taxes		(2,781	)		7,324	–				4,543
Due to/(from) subsidiaries		233,769			89,015		(322,784	)	–
Other deferred liabilities		106,544			13,797	–				120,341
Total liabilities		627,385			325,945		(443,974	)		509,356
Shareholders’ equity:
Common stock		614		–		–				614
Capital in excess of par value		70,256		–		–				70,256
Retained earnings		437,330			160,537		(160,537	)		437,330
Accumulated other comprehensive loss		(10,467	)	–		–				(10,467	)
Total shareholders’ equity		497,733			160,537		(160,537	)		497,733
Total liabilities & shareholders’ equity	$	1,125,118		$	486,482	$	(604,511	)	$	1,007,089

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	52,635		$	272	$	–		$	52,907
Accounts receivable		1,854			2,980		–			4,834
Inventories		21,961			8,911		–			30,872
Income tax receivable		118,329			–		(116,429	)		1,900
Deferred income taxes		5,372			1,924		–			7,296
Other current assets		19,519			3,836		–			23,355
Total current assets		219,670			17,923		(116,429	)		121,164
Property and equipment, net		635,478			224,352		–			859,830
Investment in subsidiaries		167,887			–		(167,887	)		–
Due from/(to) subsidiaries		76,485			230,583		(307,068	)		–
Other assets		46,812			15,377		–			62,189
Total assets	$	1,146,332		$	488,235	$	(591,384	)	$	1,043,183
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	11,725		$	3,239	$	–		$	14,964
Accrued and other current liabilities		47,775			34,406		–			82,181
Current maturities of long-term debt, including capital leases		(347	)		8,834					8,487
Income tax payable		–			116,429		(116,429	)		–
Total current liabilities		59,153			162,908		(116,429	)		105,632
Long-term debt and capital leases, less current maturities		232,462			58,053		–			290,515
Deferred income taxes		(1,070	)		6,823		–			5,753
Due to/(from) subsidiaries		230,583			76,485		(307,068	)		–
Other deferred liabilities		108,369			16,079		–			124,448
Total liabilities		629,497			320,348		(423,497	)		526,348
Shareholders’ equity:
Common stock		612			–		–			612
Capital in excess of par value		67,596			–		–			67,596
Retained earnings		459,572			167,887		(167,887	)		459,572
Accumulated other comprehensive loss		(10,945	)		–		–			(10,945	)
Total shareholders’ equity		516,835			167,887		(167,887	)		516,835
Total liabilities & shareholders’ equity	$	1,146,332		$	488,235	$	(591,384	)	$	1,043,183

Condensed Income Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	210,082		$	78,010		$	–		$	288,092
Franchise revenue		21			1,561			–			1,582
		210,103			79,571			–			289,674
Operating costs and expenses:
Cost of merchandise		58,527			21,411			–			79,938
Payroll and related costs		73,526			29,207			–			102,733
Other restaurant operating costs		48,402			19,132			–			67,534
Depreciation		10,364			3,845			–			14,209
Selling, general, and administrative		25,994			11,021			–			37,015
Intercompany selling, general, and administrative allocations		14,763			(14,763	)		–			–
Closures and impairments		5,165			2,868			–			8,033
Equity in earnings of subsidiaries		(4,525	)		–			4,525			–
Interest expense, net		5,060			1,693			–			6,753
Intercompany interest expense/(income)		3,185			(3,185	)		–			–
Loss on extinguishment of debt		511			–			–			511
		240,972			71,229			4,525			316,726
(Loss)/income from continuing operations before income taxes		(30,869	)		8,342			(4,525	)		(27,052	)
Provision/(benefit) for income taxes from continuing operations		(8,970	)		3,817			–			(5,153	)
(Loss)/income from continuing operations		(21,899	)		4,525			(4,525	)		(21,899	)
Loss from discontinued operations, net of tax		(343	)		–			–			(343	)
Net (loss)/income	$	(22,242	)	$	4,525		$	(4,525	)	$	(22,242	)
Other comprehensive income:
Pension liability reclassification, net of tax		478			–			–			478
Total comprehensive (loss)/income	$	(21,764	)	$	4,525		$	(4,525	)	$	(21,764	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	237,972		$	88,295		$	–		$	326,267
Franchise revenue		92			1,564			–			1,656
		238,064			89,859			–			327,923
Operating costs and expenses:
Cost of merchandise		64,202			23,661			–			87,863
Payroll and related costs		76,193			30,999			–			107,192
Other restaurant operating costs		46,820			19,034			–			65,854
Depreciation		11,099			3,912			–			15,011
Selling, general, and administrative		29,021			13,986			–			43,007
Intercompany selling, general, and administrative allocations		18,042			(18,042	)		–			–
Closures and impairments		837			250			–			1,087
Equity in earnings of subsidiaries		(12,032	)		–			12,032			–
Interest expense, net		5,299			1,491			–			6,790
Intercompany interest expense/(income)		3,388			(3,388	)		–			–
		242,869			71,903			12,032			326,804
(Loss)/income from continuing operations before income taxes		(4,805	)		17,956			(12,032	)		1,119
Provision/(benefit) for income taxes from continuing operations		(7,879	)		5,924			–			(1,955	)
(Loss)/income from continuing operations		3,074			12,032			(12,032	)		3,074
Loss from discontinued operations, net of tax		(475	)		(72	)		72			(475	)
Net income	$	2,599		$	11,960		$	(11,960	)	$	2,599
Other comprehensive income:
Pension liability reclassification, net of tax		380			–			–			380
Total comprehensive income	$	2,979		$	11,960		$	(11,960	)	$	2,979

Condensed Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	(7,987	)	$	25,540		$	(8,689	)	$	8,864
Investing activities:
Purchases of property and equipment		(7,850	)		(3,309	)	–				(11,159	)
Proceeds from sale-leaseback transactions, net		5,637		–			–				5,637
Proceeds from disposal of assets		1,525			1,023		–				2,548
Other, net		205		–			–				205
Net cash used by investing activities		(483	)		(2,286	)	–				(2,769	)
Financing activities:
Principal payments on long-term debt		(12,941	)		(11,343	)	–				(24,284	)
Stock repurchases		(540	)	–			–				(540	)
Proceeds from exercise of stock options		1,419		–			–				1,419
Excess tax benefits from share-based compensation		256		–			–				256
Intercompany transactions		3,186			(11,875	)		8,689		–
Net cash used by financing activities		(8,620	)		(23,218	)		8,689			(23,149	)
Decrease in cash and cash equivalents		(17,090	)		36		–				(17,054	)
Cash and cash equivalents:
Beginning of year		52,635			272			–			52,907
End of quarter	$	35,545		$	308		$	–		$	35,853

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	2,304		$	15,944		$	(7,046	)	$	11,202
Investing activities:
Purchases of property and equipment		(5,338	)		(1,022	)		–			(6,360	)
Proceeds from sale-leaseback transactions, net		19,286			–			–			19,286
Proceeds from disposal of assets		5			–			–			5
Other, net		(100	)		–			–			(100	)
Net cash used by investing activities		13,853			(1,022	)		–			12,831
Financing activities:
Principal payments on long-term debt		11			(4,485	)		–			(4,474	)
Stock repurchases		(2,346	)		–			–			(2,346	)
Proceeds from exercise of stock options		90			–			–			90
Excess tax benefits from share-based compensation		1			–			–			1
Intercompany transactions		3,388			(10,434	)		7,046			–
Net cash used by financing activities		1,144			(14,919	)		7,046			(6,729	)
Increase in cash and cash equivalents		17,301			3			–			17,304
Cash and cash equivalents:
Beginning of year		47,986			198			–			48,184
End of quarter	$	65,287		$	201		$	–		$	65,488