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Subsequent Events
9 Months Ended
Oct. 02, 2011
Subsequent Events [abstract] 
Subsequent Events
L.   SUBSEQUENT EVENTS

On October 17, 2011, the Company completed a sale-leaseback of 50 O'Charley's restaurant properties, which produced gross proceeds of approximately $105 million. During the fourth fiscal quarter, the Company will be using the net proceeds from the sale-leaseback of approximately $103.8 million and approximately $11.4 million of available cash to redeem at par the $115.2 million principal amount of the Senior Notes.

The anticipated impact of the two transactions will be a decrease in annual interest expense associated with the Senior Notes of approximately $10.0 million, as well as approximately $2.5 million less in annual depreciation, which will be partly offset by approximately $8.9 million of incremental annual rent expense.  The incremental annual rent expense includes straight-line rent, and the annual amortization of related deferred finance costs and the deferred gain on the sale of certain properties included in the sale-leaseback transaction. The full impact of these changes will be reflected in the Company's 2012 results. In addition, the Company expects to record a loss in the fiscal fourth quarter of approximately $1.2 million on the sale of certain properties included in the sale-leaseback transaction.
 
During the fourth fiscal quarter, the Company also entered into a Fourth Amended and Restated Credit Agreement with its existing banks, under which it has reduced its revolving credit facility to $30 million from $45 million and extended the facility's term to 2016.  While the facility's terms are substantially consistent with the relevant terms of the prior facility, which was to mature in August 2013, the Company is permitted to make capital expenditures for restaurant remodels and expansion under the new facility of up to $5 million for 2011 and up to 35% of Earnings Before Interest Taxes Depreciation and Amortization or EBITDA (as defined therein) for 2012 and the years thereafter.