New Accounting Pronouncements (Tables)

3 Months Ended

Mar. 25, 2018

Accounting Changes and Error Corrections [Abstract]

Cumulative Effect of Changes Made to Consolidated Balance Sheet

The cumulative effect of the changes made to our consolidated balance sheet as of January 1, 2018 for the adoption of ASC 606 were as follows (in thousands):


	Balance at December 31, 2017			Adjustments Due to ASC 606			Balance at January 1, 2018
Assets
Other assets:
Deferred income taxes	$	2,750		$	1,878		$	4,628

Liabilities and stockholders’ deficit
Current liabilities:
Advertising fund liabilities		120,223			(6,425	)		113,798
Other accrued liabilities		58,578			2,365			60,943

Long-term liabilities:
Other accrued liabilities		21,751			12,639			34,390

Stockholders’ deficit:
Retained deficit		(2,739,437	)		(6,701	)		(2,746,138	)

Impact of Adoption on Company's Condensed Consolidated Statement of Income and Condensed Consolidated Balance Sheet

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on the Company’s condensed consolidated statement of income and condensed consolidated balance sheet for the period ended March 25, 2018 was as follows (in thousands):


	First Quarter
	As Reported		Balances without the Adoption of ASC 606		Effect of Change Higher/ (Lower)
Revenues:
Domestic franchise royalties and fees	$	89,490	$	94,068	$	(4,578	)
International franchise royalties and fees		52,421		52,383		38
Domestic franchise advertising		82,211		—		82,211
General and administrative		84,178		88,746		(4,568	)
Domestic franchise advertising		82,211		—		82,211
Income from operations		133,476		133,428		48
Income before provision for income taxes		103,670		103,622		48
Provision for income taxes		14,843		14,832		11
Net income		88,827		88,790		37


	As Reported			Balances without the Adoption of ASC 606			Effect of Change Higher/ (Lower)
Assets
Other assets:
Deferred income taxes	$	4,069		$	2,202		$	1,867

Liabilities and stockholders’ deficit
Current liabilities:
Advertising fund liabilities		105,830			112,265			(6,435	)
Other accrued liabilities		112,143			109,747			2,396

Long-term liabilities:
Other accrued liabilities		35,843			23,273			12,570

Stockholders’ deficit:
Retained deficit		(2,768,591	)		(2,761,927	)		(6,664	)