Acquisition (Tables)

9 Months Ended

Sep. 30, 2018

Oct. 01, 2017

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the preliminary allocation of the aggregate purchase price for the 2018 acquisitions reflected in the consolidated balance sheet as of September 30, 2018.

Inventory	$	252
Restaurant equipment	1,680
Restaurant equipment - subject to capital lease	19
Leasehold improvements	1,329
Franchise fees	971
Franchise rights (Note 3)	22,037
Favorable leases (Note 3)	587
Deferred income taxes	346
Goodwill (Note 3)	1,261
Capital lease obligations for restaurant equipment	(24		)
Unfavorable leases (Note 3)	(624		)
Accounts payable	(9		)
Net assets acquired	$	27,825

Since the beginning of 2017, the Company has acquired an aggregate of 98 restaurants from other franchisees in the following transactions, some of which were subject to the ROFR:

Closing Date		Number of Restaurants	Purchase Price		Market Location
2017 Acquisitions:
February 28, 2017		43	$	20,366	Cincinnati, Ohio
June 5, 2017	(1)	17	16,355		Baltimore, Maryland and Washington, DC
November 28, 2017		4	1,202		Maine
		64	$	37,923
2018 Acquisitions:
February 13, 2018	(2)	1	—		New York
August 21, 2018	(1)	2	1,666		Detroit, MI
September 5, 2018	(1)	31	25,929		Western Virginia
Total 2017 and 2018 Acquisitions		98	$	65,518

(1) Acquisitions resulting from the exercise of the ROFR.

(2) This acquisition resulted in a bargain purchase gain because the fair value of assets acquired, largely representing a franchise right asset of $290, exceeded the total fair value of consideration paid by $230. The Company recognized this gain and recorded it as "Gain on bargain purchase" in the condensed consolidated statements of comprehensive income.

Business Acquisition, Pro Forma Information [Table Text Block]

The following table summarizes the Company's unaudited pro forma operating results:

	Three Months Ended				Nine Months Ended
	September 30, 2018		October 1, 2017		September 30, 2018		October 1, 2017
Restaurant sales	$	304,274	$	297,181	$	899,197	$	862,328
Net income	$	4,808	$	3,631	$	11,100	$	6,798
Basic and diluted net income per share	$	0.11	$	0.08	$	0.25	$	0.15