Acquisition (Tables)

3 Months Ended

Mar. 31, 2019

Apr. 01, 2018

Business Acquisition [Line Items]

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

Since the beginning of 2018, the Company has acquired an aggregate of 44 restaurants from other franchisees in the following transactions, some of which were subject to the ROFR (in thousands, except number of restaurants):

Closing Date		Number of Restaurants	Purchase Price		Market Location
February 13, 2018	(1)	1	$	—	New York
August 21, 2018	(2)	2	1,666		Detroit, Michigan
September 5, 2018	(2)	31	25,930		Western Virginia
October 2, 2018		10	10,506		South Carolina and Georgia
		44	$	38,102

(1) During the first quarter of 2018, the allocation of the purchase price and the resulting bargain purchase gain for this acquisition was preliminary and subject to adjustment. Specifically, the Company was finalizing the valuation of franchise rights which will impact the amount of the bargain purchase gain. In the second quarter of 2018, the Company recorded a bargain purchase gain because the fair value of assets acquired, largely representing a franchise right asset of $0.3 million, exceeded the total fair value of consideration paid by $0.2 million.

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

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

Inventory	$	401
Restaurant equipment	2,092
Restaurant equipment - subject to finance leases	43
Leasehold improvements	1,329
Franchise fees	1,264
Franchise rights (Note 3)	31,275
Favorable leases (Note 3)	587
Deferred income taxes	346
Goodwill (Note 3)	1,677
Finance lease liabilities for restaurant equipment	(49		)
Unfavorable leases (Note 3)	(624		)
Accounts payable	(9		)
Net assets acquired	$	38,332

Business Acquisition, Pro Forma Information [Table Text Block]

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

	Three Months Ended
	March 31, 2019			April 1, 2018
Restaurant sales	$	290,789		$	284,817
Net loss	$	(11,469	)	$	(2,269	)
Basic and diluted net loss per share	$	(0.32	)	$	(0.06	)