Note P - Supplemental Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Dec. 03, 2013

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	23,313		$	305	–			$	23,618
Accounts receivable		2,217			3,562	–				5,779
Inventories		19,477			7,938	–				27,415
Income tax receivable		130,721		–			(125,378	)		5,343
Deferred income taxes		1,377			3,202	–				4,579
Other current assets		15,237			3,488	–				18,725
Total current assets		192,342			18,495		(125,378	)		85,459
Property and equipment, net		611,147			213,013	–				824,160
Investment in subsidiaries		152,303		–			(152,303	)	–
Due from/(to) subsidiaries		90,802			236,998		(327,800	)	–
Other assets		48,465			14,358	–				62,823
Total assets	$	1,095,059		$	482,864	$	(605,481	)	$	972,442
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	20,934		$	4,330	–			$	25,264
Accrued and other current liabilities		47,703			35,225	–				82,928
Current maturities of long-term debt, including capital leases		(341	)		10,179	–				9,838
Income tax payable	–				125,378		(125,378	)	–
Total current liabilities		68,296			175,112		(125,378	)		118,030
Long-term debt and capital leases, less current maturities		219,882			43,422	–				263,304
Deferred income taxes		(4,192	)		6,970	–				2,778
Due to/(from) subsidiaries		236,998			90,802		(327,800	)	–
Other deferred liabilities		107,826			14,255	–				122,081
Total liabilities		628,810			330,561		(453,178	)		506,193
Shareholders’ equity:
Common stock		614		–		–				614
Capital in excess of par value		72,678		–		–				72,678
Retained earnings		402,947			152,303		(152,303	)		402,947
Accumulated other comprehensive loss		(9,990	)	–		–				(9,990	)
Total shareholders’ equity		466,249			152,303		(152,303	)		466,249
Total liabilities & shareholders’ equity	$	1,095,059		$	482,864	$	(605,481	)	$	972,442

	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	$	198,850		$	75,869		–			$	274,719
Franchise revenue		98			1,392		–				1,490
		198,948			77,261		–				276,209
Operating costs and expenses:
Cost of merchandise		56,320			21,349		–				77,669
Payroll and related costs		69,365			28,152		–				97,517
Other restaurant operating costs		46,493			18,796		–				65,289
Depreciation		10,208			3,707		–				13,915
Selling, general, and administrative		25,724			11,307		–				37,031
Intercompany selling, general, and administrative allocations		14,008			(14,008	)	–			–
Closures and impairments		8,058			6,085		–				14,143
Equity in earnings of subsidiaries		104		–				(104	)	–
Interest expense, net		5,171			1,449		–				6,620
Intercompany interest expense/(income)		3,229			(3,229	)	–			–
Loss on extinguishment of debt		672		–			–				672
		239,352			73,608			(104	)		312,856
(Loss)/income from continuing operations before income taxes		(40,404	)		3,653			104			(36,647	)
(Benefit)/provision for income taxes from continuing operations		(5,667	)		3,757		–				(1,910	)
(Loss)/income from continuing operations		(34,737	)		(104	)		104			(34,737	)
Gain from discontinued operations, net of tax		354		–			–				354
Net (loss)/income	$	(34,383	)	$	(104	)	$	104		$	(34,383	)
Other comprehensive income:
Pension liability reclassification, net of tax		477		–			–				477
Total comprehensive (loss)/income	$	(33,906	)	$	(104	)	$	104		$	(33,906	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	408,932		$	153,879		–			$	562,811
Franchise revenue		119			2,953		–				3,072
		409,051			156,832		–				565,883
Operating costs and expenses:
Cost of merchandise		114,847			42,760		–				157,607
Payroll and related costs		142,891			57,359		–				200,250
Other restaurant operating costs		94,895			37,928		–				132,823
Depreciation		20,572			7,552		–				28,124
Selling, general, and administrative		51,718			22,328		–				74,046
Intercompany selling, general, and administrative allocations		28,771			(28,771	)	–			–
Closures and impairments		13,223			8,953		–				22,176
Equity in earnings of subsidiaries		(4,421	)	–				4,421		–
Interest expense, net		10,231			3,142		–				13,373
Intercompany interest expense/(income)		6,414			(6,414	)	–			–
Loss on extinguishment of debt		1,183		–			–				1,183
		480,324			144,837			4,421			629,582
(Loss)/income from continuing operations before income taxes		(71,273	)		11,995			(4,421	)		(63,699	)
(Benefit)/provision for income taxes from continuing operations		(14,637	)		7,574		–				(7,063	)
(Loss)/income from continuing operations		(56,636	)		4,421			(4,421	)		(56,636	)
Gain from discontinued operations, net of tax		11		–			–				11
Net (loss)/income	$	(56,625	)	$	4,421		$	(4,421	)	$	(56,625	)
Other comprehensive income:
Pension liability reclassification, net of tax		955		–			–				955
Total comprehensive (loss)/income	$	(55,670	)	$	4,421		$	(4,421	)	$	(55,670	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	216,215		$	82,382		–			$	298,597
Franchise revenue		41			1,439		–				1,480
		216,256			83,821		–				300,077
Operating costs and expenses:
Cost of merchandise		59,998			22,849		–				82,847
Payroll and related costs		71,486			29,245		–				100,731
Other restaurant operating costs		46,781			18,867		–				65,648
Depreciation		10,773			3,904		–				14,677
Selling, general, and administrative		24,971			13,570		–				38,541
Intercompany selling, general, and administrative allocations		16,442			(16,442	)	–			–
Closures and impairments		2,137			(246	)	–				1,891
Equity in earnings of subsidiaries		(9,434	)	–				9,434		–
Interest expense, net		5,342			1,423		–				6,765
Intercompany interest expense/(income)		3,434			(3,434	)	–			–
Gain on extinguishment of debt		(155	)	–			–				(155	)
		231,775			69,736			9,434			310,945
(Loss)/income from continuing operations before income taxes		(15,519	)		14,085			(9,434	)		(10,868	)
(Benefit)/provision for income taxes from continuing operations		(11,315	)		4,651		–				(6,664	)
(Loss)/income from continuing operations		(4,204	)		9,434			(9,434	)		(4,204	)
Loss from discontinued operations, net of tax		(10,864	)		(580	)		580			(10,864	)
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	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	454,187		$	170,677		–			$	624,864
Franchise revenue		133			3,003		–				3,136
		454,320			173,680		–				628,000
Operating costs and expenses:
Cost of merchandise		124,200			46,510		–				170,710
Payroll and related costs		147,679			60,244		–				207,923
Other restaurant operating costs		93,601			37,901		–				131,502
Depreciation		21,872			7,816		–				29,688
Selling, general, and administrative		53,992			27,556		–				81,548
Intercompany selling, general, and administrative allocations		34,484			(34,484	)	–			–
Closures and impairments		2,974			4		–				2,978
Equity in earnings of subsidiaries		(21,466	)	–				21,466		–
Interest expense, net		10,641			2,914		–				13,555
Intercompany interest expense/(income)		6,822			(6,822	)	–			–
Gain on extinguishment of debt		(155	)	–			–				(155	)
		474,644			141,639			21,466			637,749
(Loss)/income from continuing operations before income taxes		(20,324	)		32,041			(21,466	)		(9,749	)
(Benefit)/provision for income taxes from continuing operations		(19,194	)		10,575		–				(8,619	)
(Loss)/income from continuing operations		(1,130	)		21,466			(21,466	)		(1,130	)
Loss from discontinued operations, net of tax		(11,339	)		(652	)		652			(11,339	)
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 Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash (used)/provided by operating activities	$	(22,630	)	$	36,648		$	(13,590	)	$	428
Investing activities:
Purchases of property and equipment		(12,902	)		(4,795	)	–				(17,697	)
Proceeds from sale-leaseback transactions, net		5,637		–			–				5,637
Proceeds from disposal of assets		7,434			1,023		–				8,457
Other, net		187		–			–				187
Net cash provided/(used) by investing activities		356			(3,772	)	–				(3,416	)
Financing activities:
Principal payments on long-term debt		(12,968	)		(12,838	)	–				(25,806	)
Stock repurchases		(540	)	–			–				(540	)
Payments for debt issuance costs		(1,718	)	–			–				(1,718	)
Proceeds from exercise of stock options		1,480		–			–				1,480
Excess tax benefits from share-based compensation		283		–			–				283
Intercompany transactions		6,415			(20,005	)		13,590		–
Net cash used by financing activities		(7,048	)		(32,843	)		13,590			(26,301	)
(Decrease)/increase in cash and cash equivalents		(29,322	)		33		–				(29,289	)
Cash and cash equivalents:
Beginning of year		52,635			272		–				52,907
End of quarter	$	23,313		$	305		–			$	23,618

	Parent			Guarantors			Eliminations			Consolidated
Net cash (used)/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 quarter	$	25,379		$	215		–			$	25,594