Operating (Gains), Losses and Other Charges, Net

9 Months Ended

Sep. 25, 2019

Other Income and Expenses [Abstract]

Operating (Gains), Losses and Other Charges, Net

Operating (Gains), Losses and Other Charges, Net

Operating (gains), losses and other charges, net consisted of the following:

	Quarter Ended						Three Quarters Ended
	September 25, 2019			September 26, 2018			September 25, 2019			September 26, 2018
	(In thousands)
Gains on sales of assets and other, net	$	(51,183	)	$	(695	)	$	(87,497	)	$	(759	)
Restructuring charges and exit costs	1,092			48			2,038			816
Impairment charges	—			1,440			—			1,558
Operating (gains), losses and other charges, net	$	(50,091	)	$	793		$	(85,459	)	$	1,615

Gains on sales of assets and other, net were primarily the result of sales of company restaurants and real estate as part of our refranchising and development strategy. See Note 4.

Restructuring charges and exit costs consisted of the following: 

	Quarter Ended				Three Quarters Ended
	September 25, 2019		September 26, 2018		September 25, 2019		September 26, 2018
	(In thousands)
Exit costs	$	20	$	48	$	194	$	347
Severance and other restructuring charges	1,072		—		1,844		469
Total restructuring charges and exit costs	$	1,092	$	48	$	2,038	$	816

Exit cost liabilities were $0.1 million and $1.2 million as of September 25, 2019 and December 26, 2018, respectively. As a result of the adoption of Topic 842, exit cost liabilities related to lease costs are now included as a component of operating lease liabilities in our Condensed Consolidated Balance Sheets. See Note 3.

As of September 25, 2019 and December 26, 2018, we had accrued severance and other restructuring charges of $1.1 million and $0.6 million, respectively. The balance as of September 25, 2019 is expected to be paid during the next 12 months.

Impairment charges for the quarter and three quarters ended September 26, 2018 primarily resulted from the impairment of an underperforming unit.