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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 27, 2019
Jun. 27, 2018
Current assets    
Cash and cash equivalents $ 12.2 $ 10.9
Accounts receivable, net 55.9 53.7
Inventories 24.0 24.2
Restaurant supplies 46.9 46.7
Prepaid expenses 23.4 20.8
Income taxes receivable 6.2 0.0
Total current assets 168.6 156.3
Property and equipment, at cost    
Land 37.4 154.0
Buildings and leasehold improvements 1,460.0 1,673.3
Furniture and equipment 730.7 722.0
Construction-in-progress 26.1 22.1
Property plant and equipment, gross 2,254.2 2,571.4
Less accumulated depreciation and amortization (1,495.6) (1,632.5)
Net property and equipment 758.6 938.9
Other assets    
Goodwill 163.8 163.8
Deferred income taxes, net 119.8 33.6
Intangibles, net 22.7 24.0
Other 30.6 30.7
Total other assets 336.9 252.1
Total assets 1,264.1 [1] 1,347.3
Current liabilities    
Current installments of long-term debt 7.9 7.1
Accounts payable 108.3 104.7
Gift card liability 109.6 119.1
Accrued payroll 83.0 74.5
Other accrued liabilities 144.7 127.2
Income taxes payable 0.0 1.7
Total current liabilities 453.5 434.3
Long-term debt, less current installments 1,219.3 1,499.6
Deferred gain on sale leaseback transactions 250.7 0.0
Other liabilities 154.8 131.7
Commitments and contingencies (Note 13)
Shareholders’ deficit    
Common stock (250.0 million authorized shares; $0.10 par value; 176.2 million shares issued and 37.5 million shares outstanding at March 27, 2019, and 176.2 million shares issued and 40.8 million shares outstanding at June 27, 2018) 17.6 17.6
Additional paid-in capital 519.1 511.6
Accumulated other comprehensive loss (5.9) (5.8)
Retained earnings 2,739.1 2,683.0
Shareholders' deficit including treasury stock 3,269.9 3,206.4
Less treasury stock, at cost (138.7 million shares at March 27, 2019, and 135.4 million shares at June 27, 2018) (4,084.1) (3,924.7)
Total shareholders’ deficit (814.2) (718.3)
Total liabilities and shareholders’ deficit $ 1,264.1 $ 1,347.3
[1] During the thirty-nine week period ended March 27, 2019 we completed sale leaseback transactions of 149 company-owned Chili’s restaurant properties. As part of this transaction, we sold the related restaurant fixed assets, net of accumulated depreciation, totaling $178.6 million. Additionally, Chili’s recognized $22.0 million of gain on the sale, including a certain portion of the deferred gain, net of related transaction costs incurred in Other (gains) and charges in the Consolidated Statements of Comprehensive Income. Please see Note 3 - Sale Leaseback Transactions for further details.