Note P – Supplemental Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Sep. 02, 2014

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	56,573		$	316	–			$	56,889
Accounts receivable		1,568			2,963	–				4,531
Inventories		14,260			5,734	–				19,994
Income tax receivable		142,065		–			(140,334	)		1,731
Deferred income taxes		(1,889	)		3,213	–				1,324
Other current assets		17,236			3,112	–				20,348
Total current assets		229,813			15,338		(140,334	)		104,817
Property and equipment, net		580,924			204,132	–				785,056
Investment in subsidiaries		134,922		–			(134,922	)	–
Due from/(to) subsidiaries		73,041			217,057		(290,098	)	–
Other assets		48,399			12,476	–				60,875
Total assets	$	1,067,099		$	449,003	$	(565,354	)	$	950,748
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	19,177		$	3,944	–			$	23,121
Accrued and other current liabilities		49,406			33,963	–				83,369
Current maturities of long-term debt, including capital leases		(347	)		5,198	–				4,851
Income tax payable	–				140,334		(140,334	)	–
Total current liabilities		68,236			183,439		(140,334	)		111,341
Long-term debt and capital leases, less current maturities		213,139			39,522	–				252,661
Deferred income taxes		(1,078	)		4,656	–				3,578
Due to/(from) subsidiaries		217,057			73,041		(290,098	)	–
Other deferred liabilities		103,812			13,423	–				117,235
Total liabilities		601,166			314,081		(430,432	)		484,815
Shareholders’ equity:
Common stock		619		–		–				619
Capital in excess of par value		77,960		–		–				77,960
Retained earnings		397,791			134,922		(134,922	)		397,791
Accumulated other comprehensive loss		(10,437	)	–		–				(10,437	)
Total shareholders’ equity		465,933			134,922		(134,922	)		465,933
Total liabilities & shareholders’ equity	$	1,067,099		$	449,003	$	(565,354	)	$	950,748

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	51,012		$	314	–			$	51,326
Accounts receivable		1,725			3,136	–				4,861
Inventories		15,114			6,060	–				21,174
Income tax receivable		138,524		–			(136,391	)		2,133
Deferred income taxes		(548	)		3,945	–				3,397
Other current assets		14,610			2,289	–				16,899
Total current assets		220,437			15,744		(136,391	)		99,790
Property and equipment, net		587,783			207,063	–				794,846
Investment in subsidiaries		158,266		–			(158,266	)	–
Due from/(to) subsidiaries		78,612			243,665		(322,277	)	–
Other assets		48,780			13,011	–				61,791
Total assets	$	1,093,878		$	479,483	$	(616,934	)	$	956,427
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	20,545		$	5,656	–			$	26,201
Accrued and other current liabilities		46,450			36,356	–				82,806
Current maturities of long-term debt, including capital leases		(341	)		5,157					4,816
Income tax payable	–				136,391		(136,391	)	–
Total current liabilities		66,654			183,560		(136,391	)		113,823
Long-term debt and capital leases, less current maturities		213,039			40,836	–				253,875
Deferred income taxes		(445	)		3,945	–				3,500
Due to/(from) subsidiaries		243,665			78,612		(322,277	)	–
Other deferred liabilities		109,756			14,264	–				124,020
Total liabilities		632,669			321,217		(458,668	)		495,218
Shareholders’ equity:
Common stock		614		–		–				614
Capital in excess of par value		76,269		–		–				76,269
Retained earnings		395,226			158,266		(158,266	)		395,226
Accumulated other comprehensive loss		(10,900	)	–		–				(10,900	)
Total shareholders’ equity		461,209			158,266		(158,266	)		461,209
Total liabilities & shareholders’ equity	$	1,093,878		$	479,483	$	(616,934	)	$	956,427

Condensed Income Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	202,551		$	76,906		–			$	279,457
Franchise revenue		146			1,579		–				1,725
		202,697			78,485		–				281,182
Operating costs and expenses:
Cost of goods sold		54,530			20,617		–				75,147
Payroll and related costs		68,042			27,800		–				95,842
Other restaurant operating costs		43,412			16,387		–				59,799
Depreciation		9,387			3,271		–				12,658
Selling, general, and administrative		20,221			10,680		–				30,901
Intercompany selling, general, and administrative allocations		11,142			(11,142	)	–			–
Closures and impairments		1,231			251		–				1,482
Equity in earnings of subsidiaries		(7,781	)	–				7,781		–
Interest expense, net		4,511			911		–				5,422
Intercompany interest expense/(income)		2,892			(2,892	)	–			–
		207,587			65,883			7,781			281,251
(Loss)/income before income taxes		(4,890	)		12,602			(7,781	)		(69	)
(Benefit)/provision for income taxes		(7,455	)		4,821		–				(2,634	)
Net income	$	2,565		$	7,781		$	(7,781	)	$	2,565
Other comprehensive income:
Pension liability reclassification, net of tax		463		–			–				463
Total comprehensive income	$	3,028		$	7,781		$	(7,781	)	$	3,028

	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 goods sold		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	)
(Benefit)/provision 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	)

Condensed Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	37,370		$	33,445		$	(57,733	)	$	13,082
Investing activities:
Purchases of property and equipment		(5,717	)		(1,260	)	–				(6,977	)
Proceeds from disposal of assets		250			23		–				273
Other, net		370			135		–				505
Net cash used by investing activities		(5,097	)		(1,102	)	–				(6,199	)
Financing activities:
Principal payments on long-term debt		11			(1,216	)	–				(1,205	)
Stock repurchases		(55	)	–			–				(55	)
Payments for debt issuance costs		(60	)	–			–				(60	)
Intercompany transactions		(26,608	)		(31,125	)		57,733		–
Net cash used by financing activities		(26,712	)		(32,341	)		57,733			(1,320	)
Increase in cash and cash equivalents		5,561			2		–				5,563
Cash and cash equivalents:
Beginning of year		51,012			314		–				51,326
End of quarter	$	56,573		$	316		–			$	56,889

	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