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CHILI'S RESTAURANT ACQUISITION (Details)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 05, 2019
USD ($)
restaurant
Mar. 25, 2020
USD ($)
Restaurant
Mar. 27, 2019
USD ($)
Mar. 25, 2020
USD ($)
Restaurant
Mar. 27, 2019
USD ($)
Jun. 26, 2019
USD ($)
Business Acquisition [Line Items]            
Number of restaurants | Restaurant   1,675   1,675    
Acquisition of franchise restaurants costs, net of (gains)   $ 1.1 $ 0.0 $ 2.6 $ 0.0  
Goodwill (Note 3)   187.4   187.4   $ 165.5
Chili's restaurant acquisition [Member]            
Business Acquisition [Line Items]            
Number of restaurants | restaurant 116          
Cash consideration for acquisition, including post-closing adjustments       96.0    
Total expected annual revenue for acquired restaurants $ 300.0          
Annual expected royalty revenue lost for acquired restaurants 22.0          
Company sales generated by acquired restaurants since acquisition date   72.0   158.2    
Acquisition of franchise restaurants costs, net of (gains)   $ 1.0   2.5    
Professional services, transaction and transition related costs       $ 4.1    
Loss on derecognition of franchisee straight-line rent balance 1.0          
Franchise deferred revenue recognized upon acquisition 2.6          
Current assets [1] 7.3          
Property and equipment 60.3          
Operating lease assets 163.5          
Reacquired franchise rights [2] 6.9          
Goodwill (Note 3) [3] 22.4          
Total assets acquired 260.4          
Current liabilities [4] 9.1          
Operating lease liabilities, less current portion 158.3          
Total liabilities assumed 167.4          
Net assets acquired [5] $ 93.0          
Weighted average amortization period, reacquired franchise rights 8 years          
Purchase price excluding customary working capital adjustments $ 99.0          
Acquisition closing adjustments (3.2)          
Payments for rent on new leases related to acquisition $ (2.8)          
[1]
Current assets included petty cash, inventory, and restaurant supplies.
[2]
Reacquired franchise rights have a weighted average amortization period of approximately 8 years.
[3]
Goodwill is expected to be deductible for tax purposes. The portion of the purchase price attributable to goodwill represents the benefits expected as a result of the acquisition, including sales and unit growth opportunities, and the benefit of the assembled workforce of the acquired restaurants.
[4]
Current liabilities included current portion of operating lease liabilities, gift card liability and accrued property tax.
[5]
Net assets acquired at fair value are equal to the total purchase price of $99.0 million, less $3.2 million of closing adjustments and $2.8 million allocated to prepayment of leases entered into between us and the franchisee (refer to Note 4 - Leases for more information).