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CHILI'S RESTAURANT ACQUISITION (Tables) | 3 Months Ended
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Sep. 29, 2021
Business Combinations [Abstract] |
Fair Value of Acquired Assets and Liabilities | The preliminary amounts recorded for the fair value of acquired assets and liabilities at the acquisition date are as follows:
| Fair Value September 2, 2021
Current assets | $ | 1.4 |
Property and equipment(2) | 46.2 |
Operating lease assets(2) | 23.6 |
Reacquired franchise rights(1) | 4.7 |
Current liabilities | (1.4) |
Finance lease liabilities, less current portion | (3.7) |
Operating lease liabilities, less current portion(2) | (23.1) |
Net assets acquired(3) | $ | 47.7 |
(1)Reacquired franchise rights have a weighted average amortization period of approximately 15 years. (2)Refer to Note 9 - Leases for further details. (3)Net assets acquired at fair value are equal to the total purchase price of $48.0 million, less $0.3 million of closing adjustments.

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