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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Dec. 25, 2019
Jun. 26, 2019
Current assets    
Cash and cash equivalents $ 12.0 $ 13.4
Accounts receivable, net 103.5 55.0
Inventories 26.2 23.2
Restaurant supplies 51.7 47.1
Prepaid expenses 21.8 23.7
Income taxes receivable, net 9.1 14.6
Total current assets 224.3 177.0
Property and equipment, at cost    
Land 34.9 33.4
Buildings and leasehold improvements 1,540.1 1,454.6
Furniture and equipment 781.3 757.5
Construction-in-progress 22.3 19.2
Property plant and equipment, gross 2,378.6 2,264.7
Less accumulated depreciation and amortization (1,555.6) (1,509.6)
Net property and equipment 823.0 755.1
Other assets    
Operating lease assets 1,175.9 [1] 0.0
Goodwill 189.6 165.5
Deferred income taxes, net 40.3 112.0
Intangibles, net 23.8 22.3
Other 26.8 26.4
Total other assets 1,456.4 326.2
Total assets 2,503.7 [2] 1,258.3
Current liabilities    
Accounts payable 92.1 97.5
Gift card liability 148.3 100.9
Accrued payroll 71.6 82.1
Operating lease liabilities 119.9 [1] 0.0
Other accrued liabilities 120.5 141.1
Total current liabilities 552.4 421.6
Long-term debt and finance leases, less current installments 1,290.2 1,206.6
Long-term operating lease liabilities, less current portion 1,172.1 [1] 0.0
Deferred gain on sale leaseback transactions 0.0 255.3
Other liabilities 57.9 153.0
Commitments and contingencies (Note 14)
Shareholders’ deficit    
Common stock (250.0 million authorized shares; $0.10 par value; 62.2 million shares issued and 37.4 million shares outstanding at December 25, 2019, and 176.2 million shares issued and 37.5 million shares outstanding at June 26, 2019) 6.2 17.6
Additional paid-in capital 527.3 522.0
Accumulated other comprehensive loss (5.7) (5.6)
Retained (deficit) earnings (364.7) 2,771.2
Treasury stock, at cost (24.8 million shares at December 25, 2019, and 138.7 million shares at June 26, 2019) (732.0) (4,083.4)
Total shareholders’ deficit (568.9) (778.2)
Total liabilities and shareholders’ deficit $ 2,503.7 $ 1,258.3
[1]
Operating lease assets are recorded in Operating lease assets and the related current and long-term lease liabilities are recorded within Operating lease liabilities and Long-term operating lease liabilities, less current portion, respectively.
[2]
Segment assets for fiscal 2020 are presented in accordance with the newly adopted ASC 842 that now include Operating lease assets, refer to Note 3 - Leases for further details.