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New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 17, 2018

Accounting Changes and Error Corrections [Abstract]

Cumulative Effect of Changes Made to Consolidated Balance Sheet

The cumulative effect of the changes made to the Company’s 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 impact of adoption on the Company’s condensed consolidated statement of income for the second quarter and two fiscal quarters of 2018 and condensed consolidated balance sheet as of June 17, 2018 was as follows (in thousands):

		Fiscal Quarter Ended June 17, 2018
		As Reported				Balances without the Adoption of ASC 606				Effect of Change Higher/ (Lower)
Revenues:
Domestic franchise royalties and fees		$	87,418			$	91,216			$	(3,798	)
International franchise royalties and fees			51,337				51,333				4
Domestic franchise advertising			80,929				—				80,929
General and administrative			86,506				90,327				(3,821	)
Domestic franchise advertising			80,929				—				80,929
Income from operations			126,145				126,118				27
Income before provision for income taxes			91,197				91,170				27
Provision for income taxes			13,789				13,783				6
Net income			77,408				77,387				21

		Two Fiscal Quarters Ended June 17, 2018
		As Reported				Balances without the Adoption of ASC 606				Effect of Change Higher/ (Lower)
Revenues:
Domestic franchise royalties and fees		$	176,908			$	185,284			$	(8,376	)
International franchise royalties and fees			103,758				103,716				42
Domestic franchise advertising			163,140				—				163,140
General and administrative			170,684				179,093				(8,409	)
Domestic franchise advertising			163,140				—				163,140
Income from operations			259,621				259,546				75
Income before provision for income taxes			194,867				194,792				75
Provision for income taxes			28,632				28,615				17
Net income			166,235				166,177				58

		June 17, 2018
		As Reported				Balances without the Adoption of ASC 606				Effect of Change Higher/ (Lower)
Assets
Other assets:
Deferred income taxes		$	3,158			$	1,297			$	1,861
Liabilities and stockholders’ deficit
Current liabilities:
Advertising fund liabilities			117,360				123,818				(6,458	)
Other accrued liabilities			100,185				97,760				2,425
Long-term liabilities:
Other accrued liabilities			36,181				23,644				12,537
Stockholders’ deficit:
Retained deficit			(2,926,921	)			(2,920,278	)			(6,643	)

X

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

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-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
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