XML 96 R11.htm IDEA: XBRL DOCUMENT v3.20.1
OTHER GAINS AND CHARGES
 9 Months Ended
Mar. 25, 2020
Other Gains and Charges [Abstract]  
Other Gains and Charges
Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited) consisted of the following:
 
Thirteen Week Periods Ended
 
Thirty-Nine Week Periods Ended
 
March 25,
2020
 
March 27,
2019
 
March 25,
2020
 
March 27,
2019
COVID-19 related charges
$
16.1

 
$
—

 
$
16.1

 
$
—

Foreign currency transaction (gain) loss
2.3

 
(0.5
)
 
2.2

 
(0.6
)
Acquisition of franchise restaurants costs, net of (gains)
1.1

 
—

 
2.6

 
—

Remodel-related costs
0.6

 
1.7

 
2.1

 
4.8

Restaurant closure charges
0.3

 
0.2

 
3.4

 
4.0

Corporate headquarters relocation charges
0.2

 
5.2

 
0.9

 
6.2

Loss (gain) on sale of assets, net
0.1

 
(6.0
)
 
—

 
(6.8
)
Restaurant impairment charges
—

 
—

 
4.6

 
1.0

Lease modification net (gain)
—

 
—

 
(3.1
)
 
—

Sale leaseback (gain), net of transaction charges
—

 
(4.3
)
 
—

 
(22.0
)
Other
(1.4
)
 
0.2

 
1.9

 
1.0

 
$
19.3

 
$
(3.5
)
 
$
30.7

 
$
(12.4
)

Fiscal 2020
•
COVID-19 related charges during the thirteen and thirty-nine week periods ended March 25, 2020 were incurred from the initial impact and our efforts to address the COVID-19 pandemic beginning in the third quarter of fiscal 2020, refer to Note 2 - Novel Coronavirus Pandemic for further details.
•
Foreign currency transaction (gain) loss resulting from the change in value of the Mexican peso as compared to that of the U.S. dollar on our Mexican peso denominated note receivable that we received as consideration from the sale of our equity interest in our Mexico joint venture in the second quarter of fiscal 2018.
•
Acquisition of franchise restaurants costs, net of (gains) during the thirteen and thirty-nine week periods ended March 25, 2020 primarily related to the 116 restaurants acquired from a franchisee, refer to Note 3 - Chili’s Restaurant Acquisition for further details.
•
Remodel-related costs during the thirteen and thirty-nine week periods ended March 25, 2020 were recorded related to existing fixed asset write-offs associated with the Chili’s remodel project.
•
Restaurant closure charges during the thirteen and thirty-nine week periods ended March 25, 2020 primarily related to leases on certain closed Chili’s restaurant locations.
•
Corporate headquarters relocation charges during the thirteen and thirty-nine week periods ended March 25, 2020 related to costs associated with the previous corporate headquarters location.
•
Restaurant impairment charges during the thirty-nine week period ended March 25, 2020 primarily related to the long-lived and operating lease assets of 10 underperforming Chili’s restaurants.
Fiscal 2019
•
Foreign currency transaction (gain) loss resulting from the change in value of the Mexican peso as compared to that of the U.S. dollar on our Mexican peso denominated note receivable.
•
Remodel-related costs during the thirteen and thirty-nine week periods ended March 27, 2019 were recorded related to existing fixed asset write-offs associated with the Chili’s remodel project.
•
Restaurant closure charges during the thirteen and thirty-nine week periods ended March 27, 2019 were primarily related to Chili’s lease termination charges and certain Chili’s restaurant closure costs.
•
Corporate headquarters relocation charges during the thirteen and thirty-nine week periods ended March 27, 2019 included costs associated with the previous corporate headquarters location and accelerated depreciation on certain leasehold improvements associated with the leased portion of our previous corporate headquarters property which closed in the third quarter of fiscal 2019.
•
Loss (gain) on sale of assets, net during the thirteen and thirty-nine week periods ended March 27, 2019 primarily included $5.8 million for the net gain recognized on the sale of the owned portion of our previous corporate headquarters building, and additionally included in the thirty-nine week period ended March 27, 2019 is $0.8 million of gain recognized on the sale of land in Scottsdale, AZ and Pensacola, FL.
•
Restaurant impairment charges during the thirty-nine week period ended March 27, 2019 were primarily related to the long-lived assets of two underperforming Chili’s restaurants.
•
Sale leaseback (gain), net of transaction charges during the thirteen and thirty-nine week periods ended March 27, 2019 related to the fiscal 2019 sale leaseback transactions, refer to Note 4 - Leases for further details on this transaction.