Schedule I - Condensed Financial Information Of Carrols Restaurant Group, Inc. (Parent Company Only)

12 Months Ended

Dec. 31, 2011

Schedule I - Condensed Financial Information Of Carrols Restaurant Group, Inc. (Parent Company Only) [Abstract]

Schedule I - Condensed Financial Information Of Carrols Restaurant Group, Inc. (Parent Company Only)

CARROLS RESTAURANT GROUP, INC. AND SUBSIDIARY

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF

CARROLS RESTAURANT GROUP, INC.

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

(in thousands of dollars except share and per share amounts)

	December 31,
	2011			2010
ASSETS
Investment in and advances from unconsolidated subsidiary	$	58,603		$	44,899
Due from unconsolidated subsidiaries		554			8
Total assets		59,157			44,907
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to unconsolidated subsidiaries		—			—
Total liabilities		—			—
Stockholders' equity:
Preferred stock, par value $.01; authorized 20,000,000 shares, issued and outstanding—none		—			—
Voting common stock, par value $.01; authorized 100,000,000 shares, issued— 22,135,663 and 21,678,103, respectively, and outstanding—21,750,237 and 21,632,402 shares, respectively		218			216
Additional paid-in capital		6,954			3,474
Retained earnings		51,041			39,823
Accumulated other comprehensive income		1,085			1,535
Treasury stock, at cost		(141	)		(141	)
Total stockholders' equity		59,157			44,907
Total liabilities and stockholders' equity	$	59,157		$	44,907

CARROLS RESTAURANT GROUP, INC. AND SUBSIDIARY

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF

CARROLS RESTAURANT GROUP, INC.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS

(in thousands of dollars)

	Year Ended December 31,
	2011		2010		2009
Income:
Investment income from unconsolidated subsidiary	$	11,222	$	11,922	$	21,841
Expenses:
General and administrative		4		6		6
Net income	$	11,218	$	11,916	$	21,835

CARROLS RESTAURANT GROUP, INC. AND SUBSIDIARY

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF

CARROLS RESTAURANT GROUP, INC.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

(in thousands of dollars)

	Year Ended December 31,
	2011			2010			2009
Cash flows from operating activities:
Net income	$	11,218		$	11,916		$	21,835
Adjustments to reconcile net income to net cash used for operating activities:
Increase in investment in unconsolidated subsidiary		(11,222	)		(11,922	)		(21,841	)
(Increase) decrease in due from unconsolidated subsidiary		(546	)		(58	)		6
Net cash used for operating activities		(550	)		(64	)		—
Cash flows from financing activities:
Proceeds from stock option exercises		550			64			—
Net cash provided from financing activities		550			64			—
Net increase (decrease) in cash and cash equivalents		—			—			—
Cash and cash equivalents, beginning of year		—			—			—
Cash and cash equivalents, end of year	$	—		$	—		$	—

CARROLS RESTAURANT GROUP, INC. AND SUBSIDIARY

SCHEDULE I—CONDENSED FINANCIAL INFORMATION OF

CARROLS RESTAURANT GROUP, INC.

(PARENT COMPANY ONLY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

Note 1—Basis of Presentation

Carrols Restaurant Group, Inc's (the "Company") investment in subsidiary is stated at cost plus equity in the undistributed earnings of its subsidiary. The Company's share of net income of its unconsolidated subsidiary is included in consolidated income using the equity method. This condensed financial information of the parent company only should be read in conjunction with the Consolidated Financial Statements of the Company included elsewhere in this annual report.