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Company-owned Store Transactions | 12 Months Ended
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Jan. 01, 2023
Restructuring and Related Activities [Abstract] |
Company-owned Store Transactions | (12) Company-owned Store Transactions During 2022, the Company purchased 23 U.S. franchised stores in Michigan from certain of the Company’s existing U.S. franchisees for $6.8 million, which included $4.0 million of intangibles, $1.7 million of equipment and leasehold improvements and $1.1 million of goodwill. Also during 2022, the Company refranchised 114 U.S. Company-owned stores in Arizona and Utah for proceeds of $41.1 million. In connection with the refranchising of the stores, the Company recorded a $21.2 million pre-tax gain on the sale of the related assets and liabilities, including a $4.3 million reduction in goodwill. The net gain on the sale of these stores was recorded in refranchising gain in the Company’s consolidated statements of income.

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- Definition Sale and closure of company-owned stores. + References No definition available. + Details
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- References No definition available. + Details
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