Papa John's Marketing Fund, Inc.

6 Months Ended

Jun. 28, 2020

Papa John's Marketing Fund, Inc.

Papa John's Marketing Fund, Inc.

4. Papa John’s Marketing Fund, Inc.

PJMF collects a percentage of revenues from Company-owned and franchised restaurants in the United States, for the purpose of designing and administering advertising and promotional programs for all participating domestic restaurants.  Contributions and expenditures are reported on a gross basis in the Condensed Consolidated Statements of Operations within Other revenues and Other expenses.

Assets and liabilities of PJMF, which are restricted in their use, included in the Condensed Consolidated Balance Sheets were as follows (in thousands):

	June 28,		December 29,
	2020		2019
Assets
Current assets:
Cash and cash equivalents	$	3,465	$	4,569
Accounts receivable, net		11,824		11,196
Income tax receivable		112		103
Prepaid expenses		434		1,316
Total current assets		15,835		17,184
Deferred income taxes, net		458		410
Total assets	$	16,293	$	17,594
Liabilities
Current liabilities:
Accounts payable	$	4,045	$	764
Accrued expenses and other current liabilities		10,884		14,287
Current deferred revenue		3,070		3,252
Debt		107		-
Total current liabilities		18,106		18,303
Deferred revenue		1,591		2,094
Total liabilities	$	19,697	$	20,397