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Updates to Significant Accounting Policies
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Updates to Significant Accounting Policies
Updates to Significant Accounting Policies
Long-lived Assets and Goodwill
Long-lived assets and Goodwill are typically reviewed for impairment annually in the fourth quarter and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable or if an indicator of impairment exists. Although the Company completed the sale of its business in Russia in mid-June of 2022, the ongoing war between Russia and Ukraine continues to present uncertainty and risk to the Company's operations in Ukraine. The Company temporarily closed restaurants in Ukraine during the first quarter of 2022, and restaurants remained closed throughout the second quarter. The Company continues to monitor the economic uncertainty, while assessing the financial impact and outlook for restaurant operations in this market. As such, the Company conducted an analysis during the second quarter of 2022. Based on the Company’s analysis and review of current circumstances, there was no impairment recorded during the second quarter of 2022.
As of June 30, 2022, the Company’s net investment in Ukraine was approximately $110 million, primarily consisting of building and equipment assets. In addition, there was approximately $140 million of cumulative foreign currency translation losses reflected in the AOCI section of the condensed consolidated statement of shareholder’s equity at June 30, 2022.