XML 46 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Note 14 - Supplemental Condensed Consolidating Financial Statements (Tables)
 9 Months Ended
Mar. 01, 2016
Notes Tables  
Condensed Balance Sheet [Table Text Block]
 
 
Parent
 
 
Guarantors
 
 
Eliminations
 
 
Consolidated
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
                                
Cash and cash equivalents
   $ 52,266     $ 192     $ –     $ 52,458  
Accounts receivable
     2,007       3,859       –       5,866  
Inventories
     16,056       6,531       –       22,587  
Income tax receivable
     169,478       –       (166,520
)
     2,958  
Other current assets
     12,065       2,857       –       14,922  
Total current assets
     251,872       13,439       (166,520
)
     98,791  
                                 
Property and equipment, net
     530,521       192,049       –       722,570  
Deferred income taxes, net
     5,271       (3,276
)
     –       1,995  
Investment in subsidiaries
     123,422       –       (123,422
)
     –  
Due from/(to) subsidiaries
     74,673       224,422       (299,095
)
     –  
Other assets
     40,191       6,917       –       47,108  
Total assets
   $ 1,025,950     $ 433,551     $ (589,037
)
   $ 870,464  
                                 
Liabilities & Shareholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
                                
Accounts payable
   $ 13,299     $ 2,903     $ –     $ 16,202  
Accrued and other current liabilities
     37,052       32,054       –       69,106  
Current maturities of long-term debt,
including capital leases
     (1,046
)
     12,010       –       10,964  
Income tax payable
     –       166,520       (166,520
)
     –  
Deferred income taxes, net
     5,011       (2,399
)
     –       2,612  
Total current liabilities
     54,316       211,088       (166,520
)
     98,884  
                                 
Long-term debt and capital leases,
less current maturities
     208,773       9,344       –       218,117  
Due to/(from) subsidiaries
     224,422       74,673       (299,095
)
     –  
Other deferred liabilities
     102,885       15,024       –       117,909  
Total liabilities
     590,396       310,129       (465,615
)
     434,910  
                                 
Shareholders’ equity:
                                
Common stock
     602       –       –       602  
Capital in excess of par value
     75,592       –       –       75,592  
Retained earnings
     368,953       123,422       (123,422
)
     368,953  
Accumulated other comprehensive loss
     (9,593
)
     –       –       (9,593
)
Total shareholders’ equity
     435,554       123,422       (123,422
)
     435,554  
                                 
Total liabilities & shareholders’ equity
   $ 1,025,950     $ 433,551     $ (589,037
)
   $ 870,464  
 
 
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
   $ 194,527     $ 75,341     $ –     $ 269,868  
Franchise revenue
     90       1,512       –       1,602  
      194,617       76,853       –       271,470  
                                 
Operating costs and expenses:
                                
Cost of goods sold
     54,209       20,934       –       75,143  
Payroll and related costs
     65,474       27,883       –       93,357  
Other restaurant operating costs
     40,008       15,303       –       55,311  
Depreciation and amortization
     9,008       3,724       –       12,732  
Selling, general, and administrative
     17,000       10,378       –       27,378  
Intercompany selling, general, and
administrative allocations
     10,726       (10,726
)
     –       –  
Closures and impairments, net
     3,993       2,130       –       6,123  
Equity in earnings of subsidiaries
     (5,676
)
     –       5,676       –  
Interest expense, net
     4,566       439       –       5,005  
Intercompany interest expense/(income)
     3,058       (3,058
)
     –       –  
Gain on extinguishment of debt
     (10
)
     –       –       (10
)
      202,356       67,007       5,676       275,039  
                                 
(Loss)/income before income taxes
     (7,739
)
     9,846       (5,676
)
     (3,569
)
(Benefit)/provision for income taxes
     (4,653
)
     4,170       –       (483
)
                                 
Net (loss)/income
   $ (3,086
)
   $ 5,676     $ (5,676
)
   $ (3,086
)
                                 
Other comprehensive income:
                                
Pension liability reclassification
     885       –       –       885  
Total comprehensive (loss)/income
   $ (2,201
)
   $ 5,676     $ (5,676
)
   $ (2,201
)
 
 
Parent
 
 
Guarantors
 
 
Eliminations
 
 
Consolidated
 
Revenue:
                                
Restaurant sales and operating revenue
   $ 583,055     $ 224,050     $ –     $ 807,105  
Franchise revenue
     220       4,581       –       4,801  
      583,275       228,631       –       811,906  
                                 
Operating costs and expenses:
                                
Cost of goods sold
     160,212       61,477       –       221,689  
Payroll and related costs
     197,732       83,244       –       280,976  
Other restaurant operating costs
     126,234       47,669       –       173,903  
Depreciation and amortization
     27,305       11,169       –       38,474  
Selling, general, and administrative
     53,388       31,234       –       84,622  
Intercompany selling, general, and
administrative allocations
     32,188       (32,188
)
     –       –  
Closures and impairments, net
     16,080       2,828       –       18,908  
Trademark impairment
     –       1,999       –       1,999  
Equity in earnings of subsidiaries
     (18,907
)
     –       18,907       –  
Interest expense, net
     13,816       2,294       –       16,110  
Intercompany interest expense/(income)
     9,049       (9,049
)
     –       –  
Gain on extinguishment of debt
     (10
)
     –       –       (10
)
      617,087       200,677       18,907       836,671  
                                 
(Loss)/income before income taxes
     (33,812
)
     27,954       (18,907
)
     (24,765
)
(Benefit)/provision for income taxes
     (10,733
)
     9,047       –       (1,686
)
                                 
Net (loss)/income
   $ (23,079
)
   $ 18,907     $ (18,907
)
   $ (23,079
)
                                 
Other comprehensive income:
                                
Pension liability reclassification
     1,347       –       –       1,347  
Total comprehensive (loss)/income
   $ (21,732
)
   $ 18,907     $ (18,907
)
   $ (21,732
)
 
 
Parent
 
 
Guarantors
 
 
Eliminations
 
 
Consolidated
 
Revenue:
                                
Restaurant sales and operating revenue
   $ 204,278     $ 80,114     $ –     $ 284,392  
Franchise revenue
     4       1,517       –       1,521  
      204,282       81,631       –       285,913  
                                 
Operating costs and expenses:
                                
Cost of goods sold
     55,793       22,003       –       77,796  
Payroll and related costs
     67,959       28,721       –       96,680  
Other restaurant operating costs
     43,565       17,407       –       60,972  
Depreciation and amortization
     9,307       3,654       –       12,961  
Selling, general, and administrative
     18,244       10,704       –       28,948  
Intercompany selling, general, and
administrative allocations
     11,371       (11,371
)
     –       –  
Closures and impairments
     2,086       1,905       –       3,991  
Equity in earnings of subsidiaries
     (7,171
)
     –       7,171       –  
Interest expense, net
     4,654       792       –       5,446  
Intercompany interest expense/(income)
     3,040       (3,040
)
     –       –  
      208,848       70,775       7,171       286,794  
                                 
(Loss)/income before income taxes
     (4,566
)
     10,856       (7,171
)
     (881 )
(Benefit)/provision for income taxes     (3,797 )     3,685       –       (112 )
                                 
Net (loss)/income
   $ (769
)
   $ 7,171     $ (7,171 )   $ (769 )
                                 
Other comprehensive income:
                                
Pension liability reclassification
     463       –       –       463  
Total comprehensive (loss)/income
   $ (306
)
   $ 7,171     $ (7,171 )   $ (306 )
 
 
Parent
 
 
Guarantor
 
 
Eliminations
 
 
Consolidated
 
Revenue:
                                
Restaurant sales and operating revenue
   $ 595,401     $ 229,654     $ –     $ 825,055  
Franchise revenue
     188       4,511       –       4,699  
      595,589       234,165       –       829,754  
                                 
Operating costs and expenses:
                                
Cost of goods sold
     162,041       62,548       –       224,589  
Payroll and related costs
     202,349       84,137       –       286,486  
Other restaurant operating costs
     130,314       49,392       –       179,706  
Depreciation and amortization
     28,197       11,122       –       39,319  
Selling, general, and administrative
     55,013       32,128       –       87,141  
Intercompany selling, general, and
administrative allocations
     32,986       (32,986
)
     –       –  
Closures and impairments
     4,390       2,158       –       6,548  
Equity in earnings of subsidiaries
     (19,278
)
     –       19,278       –  
Interest expense, net
     13,901       2,882       –       16,783  
Intercompany interest expense/(income)
     8,930       (8,930
)
     –       –  
      618,843       202,451       19,278       840,572  
                                 
(Loss)/income before income taxes
     (23,254
)
     31,714       (19,278
)
     (10,818
)
(Benefit)/provision for income taxes
     (15,777
)
     12,436       –       (3,341
)
                                 
Net (loss)/income
   $ (7,477
)
   $ 19,278     $ (19,278
)
   $ (7,477
)
                                 
Other comprehensive income:
                                
Pension liability reclassification
     1,390       –       –       1,390  
Total comprehensive (loss)/income
   $ (6,087
)
   $ 19,278     $ (19,278
)
   $ (6,087
)
Condensed Cash Flow Statement [Table Text Block]
 
 
Parent
 
 
Guarantors
 
 
Eliminations
 
 
Consolidated
 
                                 
Net cash (used)/provided by operating activities
   $ (8,133
)
   $ 41,932     $ (15,260
)
   $ 18,539  
                                 
Investing activities:
                                
Purchases of property and equipment
     (19,892
)
     (7,454
)
     –       (27,346
)
Proceeds from disposal of assets
     6,193       –       –       6,193  
Other, net
     2,444       –       –       2,444  
Net cash used by investing activities
    (11,255
)
     (7,454
)
     –       (18,709
)
                                 
Financing activities:
                                
Principal payments on long-term debt
     (2,390
)
     (10,274
)
     –       (12,664
)
Stock repurchases
     (10,009
)
     –       –       (10,009
)
Payments for debt issuance costs
    (30
)
     –       –       (30
)
Intercompany transactions
     9,049       (24,309
)
     15,260       –  
Net cash used by financing activities
     (3,380
)
     (34,583
)
     15,260       (22,703
)
                                 
Decrease in cash and cash equivalents
     (22,768
)
     (105
)
     –       (22,873
)
Cash and cash equivalents:
                                
Beginning of year
     75,034       297       –       75,331  
End of quarter
   $ 52,266     $ 192     $ –     $ 52,458  
 
 
Parent
 
 
Guarantors
 
 
Eliminations
 
 
Consolidated
 
                                 
Net cash provided by operating activities
   $ 37,226     $ 51,900     $ (61,699
)
   $ 27,427  
                                 
Investing activities:
                                
Purchases of property and equipment
     (16,569
)
     (4,565
)
     –       (21,134
)
Proceeds from disposal of assets
     7,649       1,047       –       8,696  
Other, net
     2,043       135       –       2,178  
Net cash used by investing activities
    (6,877
)
     (3,383
)
     –       (10,260
)
                                 
Financing activities:
                                
Principal payments on long-term debt
     (6
)
     (7,406
)
     –       (7,412
)
Stock repurchases
     (73
)
     –       –       (73
)
Payments for debt issuance costs
     (281
)
     –       –       (281
)
Proceeds from exercise of stock options
     457       –       –       457  
Excess tax benefits from share-based
compensation
     37       –       –       37  
Intercompany transactions
     (20,570
)
     (41,129
)
     61,699       –  
Net cash used by financing activities
     (20,436
)
     (48,535
)
     61,699       (7,272
)
                                 
Increase/(decrease) in cash and cash equivalents
     9,913       (18
)
     –       9,895  
Cash and cash equivalents:
                                
Beginning of year
     51,012       314       –       51,326  
End of quarter
   $ 60,925     $ 296     $ –     $ 61,221