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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 26, 2018
Jun. 27, 2018
Current assets    
Cash and cash equivalents $ 11.0 $ 10.9
Accounts receivable, net 42.7 53.7
Inventories 23.4 24.2
Restaurant supplies 46.8 46.7
Prepaid expenses 27.1 20.8
Total current assets 151.0 156.3
Property and equipment, at cost    
Land 50.4 154.0
Buildings and leasehold improvements 1,463.9 1,673.3
Furniture and equipment 717.0 722.0
Construction-in-progress 25.2 22.1
Property plant and equipment, gross 2,256.5 2,571.4
Less accumulated depreciation and amortization (1,494.3) (1,632.5)
Net property and equipment 762.2 938.9
Other assets    
Goodwill 164.0 163.8
Deferred income taxes, net 112.1 33.6
Intangibles, net 23.6 24.0
Other 31.1 30.7
Total other assets 330.8 252.1
Total assets 1,244.0 [1] 1,347.3
Current liabilities    
Current installments of long-term debt 7.4 7.1
Accounts payable 97.2 104.7
Gift card liability 106.3 119.1
Accrued payroll 62.6 74.5
Other accrued liabilities 159.5 127.2
Income taxes payable 74.6 1.7
Total current liabilities 507.6 434.3
Long-term debt, less current installments 1,153.0 1,499.6
Deferred gain on sale leaseback transactions 251.0 0.0
Other liabilities 148.3 131.7
Commitments and Contingencies (Note 13)
Shareholders’ deficit    
Common stock (250.0 million authorized shares; $0.10 par value; 176.2 million shares issued and 38.8 million shares outstanding at September 26, 2018, and 176.2 million shares issued and 40.8 million shares outstanding at June 27, 2018) 17.6 17.6
Additional paid-in capital 503.9 511.6
Accumulated other comprehensive loss (5.5) (5.8)
Retained earnings 2,686.5 2,683.0
Shareholders' deficit including treasury stock 3,202.5 3,206.4
Less treasury stock, at cost (137.4 million shares at September 26, 2018 and 135.4 million shares at June 27, 2018) (4,018.4) (3,924.7)
Total shareholders’ deficit (815.9) (718.3)
Total liabilities and shareholders’ deficit $ 1,244.0 $ 1,347.3
[1] During the thirteen week period ended September 26, 2018 we completed sale leaseback transactions of 141 company-owned Chili’s restaurant properties. As part of this transaction, we sold the related restaurant fixed assets totaling $166.6 million, net of accumulated depreciation. Additionally, Chili’s recognized $20.1 million of gain on the sale, including a certain portion of the deferred gain, as well as transaction related costs incurred totaling $6.8 million in Other (gains) and charges on Consolidated Statements of Comprehensive Income. Please see Note 3 - Sale Leaseback Transactions for further details.