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Revenue Disclosures
 3 Months Ended
Mar. 28, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Disclosures
7. Revenue Disclosures
Contract Liabilities
Contract liabilities primarily consist of deferred franchise fees and deferred development fees. Changes in deferred franchise fees and deferred development fees for the first quarter of 2021 and the first quarter of 2020 were as follows:
 
    
Fiscal Quarter Ended
  
    
March 28,
2021
     
March 22,
2020
  
Deferred franchise fees and deferred development fees at beginning of period
    $ 19,090      $ 20,463  
Revenue recognized during the period
      (1,390 )       (1,417 ) 
New deferrals due to cash received and other
      803        724  
    
 
 
     
 
 
  
Deferred franchise fees and deferred development fees at end of period
    $ 18,503      $ 19,770  
    
 
 
     
 
 
  
Advertising Fund Assets
As of March 28, 2021, advertising fund assets, restricted of $162.1 million consisted of $131.9 million of cash and cash equivalents, $28.8 million of accounts receivable and $1.4 million of prepaid expenses. As of March 28, 2021, advertising fund cash and cash equivalents included $7.2 
million of cash contributed from U.S. Company-owned stores that had not yet been expended.
As of January 3, 2021, advertising fund assets, restricted of $147.7 million consisted of $115.9 million of cash and cash equivalents, $27.0 million of accounts receivable and $4.8 million of prepaid expenses. As of January 3, 2021, advertising fund cash and cash equivalents included $6.5 million of cash contributed from U.S. Company-owned stores that had not yet been expended.