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CHILI'S RESTAURANT ACQUISITIONS (Tables) | 6 Months Ended
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Dec. 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:
| Mid-Atlantic Region |  | Great Lakes Region
| Fair Value September 2, 2021 |  | Fair Value October 31, 2021
Current assets | $ | 1.4 |  |  | $ | 2.1 |
Property and equipment(2) | 46.2 |  |  | 43.9 |
Operating lease assets(2) | 23.6 |  |  | 45.1 |
Reacquired franchise rights(1) | 4.7 |  |  | 4.6 |
Goodwill(3) | — |  |  | 6.9 |
Current liabilities | (1.4) |  |  | (0.3) |
Finance lease liabilities, less current portion | (3.7) |  |  | — |
Operating lease liabilities, less current portion(2) | (23.1) |  |  | (45.2) |
Net assets acquired(4) | $ | 47.7 |  |  | $ | 57.1 |
(1)Reacquired franchise rights related to the Mid-Atlantic Region acquisition and Great Lakes Region acquisition both have weighted average amortization periods of approximately 15 years. (2)Refer to Note 9 - Leases for further details. (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)Net assets acquired at fair value related to the Mid-Atlantic Region acquisition are equal to the total purchase price of $48.0 million, less $0.3 million of closing adjustments. Net assets acquired at fair value related to the Great Lakes Region acquisition are equal to the total purchase price of $56.0 million, plus $1.1 million of closing adjustments.

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