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Contract Liabilities:

9 Months Ended

Sep. 24, 2022

3. Contract Liabilities:

The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during the first nine months of 2022 and 2021, respectively:


	September 24, 2022		September 25, 2021
Balance at beginning of period	$	8,508,500	$	8,708,300
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		1,538,100		1,110,600
Fees earned that were included in the balance at the beginning of the period		(1,373,400)		(1,325,400)
Balance at end of period	$	8,673,200	$	8,493,500

The following table illustrates future estimated revenue to be recognized for the remainder of 2022 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 24, 2022.


Contract Liabilities expected to be recognized in	Amount
2022	$	416,400
2023		1,604,400
2024		1,406,700
2025		1,190,300
2026		985,900
Thereafter		3,069,500
	$	8,673,200