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IMPAIRMENTS AND DISPOSALS OF ASSETS, NET
12 Months Ended
May 29, 2022
Asset Impairment Charges [Abstract]  
IMPAIRMENTS AND DISPOSALS OF ASSETS, NET IMPAIRMENTS AND DISPOSAL OF ASSETS, NET
Impairments and disposal of assets, net, in our accompanying consolidated statements of earnings are comprised of the following:
Fiscal Year Ended
(in millions)May 29, 2022May 30, 2021May 31, 2020
Restaurant impairments$6.8 $5.3 $51.2 
Disposal (gains) losses(4.8)(2.1)(2.4)
Other(4.0)3.4 172.2 
Impairments and disposal of assets, net$(2.0)$6.6 $221.0 
Restaurant impairments for fiscal 2022 were primarily related to one underperforming restaurant whose projected cash flows were not sufficient to cover its respective carrying values and two underperforming restaurants that were permanently closed during 2022. Restaurant impairments for fiscal 2021 were primarily related to four underperforming restaurants. Restaurant impairments for fiscal 2020 were primarily related to the economic impact of COVID-19 on eleven underperforming restaurants that were permanently closed during the fourth quarter of fiscal 2020 and nine other restaurants whose projected cash flows were not sufficient to cover their respective carrying values.
Disposal gains for fiscal 2022, 2021 and 2020 are primarily related to sale-leasebacks, disposal of closed locations, and the sale of liquor licenses.
Other impacts for fiscal 2022 were primarily related to the termination of lease liabilities in excess of the related right-of-use assets. Other impairment charges for fiscal 2021 were primarily related to software and lease right-of-use asset impairments. Other impairment charges for fiscal 2020 were primarily related to a trademark impairment resulting from the economic impact of COVID-19 on Cheddar’s Scratch Kitchen forecasted sales, in addition to impairments related to inventory obsolescence and a receivable deemed uncollectible.
Impairment charges were measured based on the amount by which the carrying amount of these assets exceeded their fair value. Fair value is generally determined based on appraisals or sales prices of comparable assets and estimates of discounted future cash flows (see Note 8). These amounts are included in impairments and disposal of assets, net as a component of earnings from continuing operations in the accompanying consolidated statements of earnings.