Note 14 – Supplemental Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Sep. 01, 2015

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	56,644		$	294		$	–		$	56,938
Accounts receivable		2,442			3,559			–			6,001
Inventories		16,289			6,494			–			22,783
Income tax receivable		159,262			–			(158,830	)		432
Other current assets		14,098			3,292			–			17,390
Total current assets		248,735			13,639			(158,830	)		103,544
Property and equipment, net		549,815			196,852			–			746,667
Deferred income taxes, net		2,497			(703	)					1,794
Investment in subsidiaries		129,843			–			(129,843	)		–
Due from/(to) subsidiaries		80,673			218,348			(299,021	)		–
Other assets		42,105			9,771			–			51,876
Total assets	$	1,053,668		$	437,907		$	(587,694	)	$	903,881
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	13,267		$	4,383		$	–		$	17,650
Accrued and other current liabilities		43,448			29,458			–			72,906
Current maturities of long-term debt, including capital leases		(1,014	)		2,842			–			1,828
Income tax payable					158,830			(158,830	)		–
Deferred income taxes, net		4,672			(2,690	)		–			1,982
Total current liabilities		60,373			192,823			(158,830	)		94,366
Long-term debt and capital leases, less current maturities		210,654			19,903			–			230,557
Due to/(from) subsidiaries		218,348			80,673			(299,021	)		–
Other deferred liabilities		103,233			14,665			-			117,898
Total liabilities		592,608			308,064			(457,851	)		442,821
Shareholders’ equity:
Common stock		620			–			–			620
Capital in excess of par value		83,586			–			–			83,586
Retained earnings		387,838			129,843			(129,843	)		387,838
Accumulated other comprehensive loss		(10,984	)		–			–			(10,984	)
Total shareholders’ equity		461,060			129,843			(129,843	)		461,060
Total liabilities & shareholders’ equity	$	1,053,668		$	437,907		$	(587,694	)	$	903,881

	Parent			Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	75,034		$	297		$	–		$	75,331
Accounts receivable		1,557			3,730			–			5,287
Inventories		14,581			5,830			–			20,411
Income tax receivable		153,146			–			(153,146	)		–
Other current assets		15,543			2,308			–			17,851
Total current assets		259,861			12,165			(153,146	)		118,880
Property and equipment, net		554,089			198,085			–			752,174
Investment in subsidiaries		128,824			-			(128,824	)		–
Due from/(to) subsidiaries		66,019			215,373			(281,392	)		–
Other assets		44,118			10,280			–			54,398
Total assets	$	1,052,911		$	435,903		$	(563,362	)	$	925,452
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	18,533		$	4,472		$	–		$	23,005
Accrued and other current liabilities		42,458			33,764			–			76,222
Current maturities of long-term debt, including capital leases		(994	)		11,072			–			10,078
Income tax payable		–			154,215			(153,146	)		1,069
Deferred income taxes, net		2,839			(2,832	)		–			7
Total current liabilities		62,836			200,691			(153,146	)		110,381
Long-term debt and capital leases, less current maturities		210,382			20,635			–			231,017
Deferred income taxes, net		(3,865	)		5,307			–			1,442
Due to/(from) subsidiaries		215,373			66,019			(281,392	)	–
Other deferred liabilities		102,602			14,427			–			117,029
Total liabilities		587,328			307,079			(434,538	)		459,869
Shareholders’ equity:
Common stock		621			–			–			621
Capital in excess of par value		83,870			–			–			83,870
Retained earnings		392,032			128,824			(128,824	)		392,032
Accumulated other comprehensive loss		(10,940	)		–			–			(10,940	)
Total shareholders’ equity		465,583			128,824			(128,824	)		465,583
Total liabilities & shareholders’ equity	$	1,052,911		$	435,903		$	(563,362	)	$	925,452

Condensed Income Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	201,416		$	76,491		$	–		$	277,907
Franchise revenue		15			1,558			–			1,573
		201,431			78,049			–			279,480
Operating costs and expenses:
Cost of goods sold		55,228			21,013			–			76,241
Payroll and related costs		67,341			27,994			–			95,335
Other restaurant operating costs		45,202			17,005			–			62,207
Depreciation and amortization		9,127			3,679			–			12,806
Selling, general, and administrative		20,589			8,807			–			29,396
Intercompany selling, general, and administrative allocations		11,126			(11,126	)		–			–
Closures and impairments		2,589			123			–			2,712
Equity in earnings of subsidiaries		(11,966	)		–			11,966			–
Interest expense, net		4,598			1,402			–			6,000
Intercompany interest expense/(income)		2,975			(2,975	)		–			–
		206,809			65,922			11,966			284,697
(Loss)/income before income taxes		(5,378	)		12,127			(11,966	)		(5,217	)
(Benefit)/provision for income taxes		(1,184	)		161			–			(1,023	)
Net (loss)/income	$	(4,194	)	$	11,966		$	(11,966	)	$	(4,194	)
Other comprehensive loss:
Changes in pension and postretirement benefits		(44	)		–			–			(44	)
Total comprehensive loss	$	(4,238	)	$	11,966		$	(11,966	)	$	(4,238	)

	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		43,332			15,886			–			59,218
Depreciation and amortization		9,467			3,772			–			13,239
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

Condensed Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash (used)/provided by operating activities	$	(17,159	)	$	22,659		$	(7,971	)	$	(2,471	)
Investing activities:
Purchases of property and equipment		(7,138	)		(2,804	)		–			(9,942	)
Proceeds from disposal of assets		2,746			–			–			2,746
Other, net		209			–			–			209
Net cash used by investing activities		(4,183	)		(2,804	)		–			(6,987	)
Financing activities:
Principal payments on long-term debt		11			(8,912	)		–			(8,901	)
Stock repurchases		(9	)		–			–			(9	)
Payments for debt issuance costs		(25	)		–			–			(25	)
Intercompany transactions		2,975			(10,946	)		7,971			–
Net cash provided/(used) by financing activities		2,952			(19,858	)		7,971			(8,935	)
Decrease in cash and cash equivalents		(18,390	)		(3	)		–			(18,393	)
Cash and cash equivalents:
Beginning of year		75,034			297			–			75,331
End of quarter	$	56,644		$	294		$	–		$	56,938

	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