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Noncontrolling Interests

12 Months Ended

Dec. 29, 2019

Noncontrolling Interests

Noncontrolling Interests

11. Noncontrolling Interests

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As of December 29, 2019, there were 192 restaurants that comprise four joint venture arrangements as compared to 183 restaurants in three joint venture arrangements at December 30, 2018.  In the second quarter of 2019, the Company entered into a new joint venture.  See Note 21 for more information.

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We are required to report the consolidated net income amounts attributable to the Company and the noncontrolling interests. Additionally, disclosures are required to clearly identify and distinguish between the interests of the Company and the interests of the noncontrolling owners, including a disclosure on the face of the Consolidated Statements of Operations of income attributable to the noncontrolling interest holders.

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The income before income taxes attributable to these joint ventures for the years ended December 29, 2019, December 30, 2018 and December 31, 2017 were as follows (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​
​		2019			2018			2017		​	​
​	​	​	​	​	​	​	​	​	​	​	​
Papa John’s International, Inc.	​	$	2,560	​	$	5,794	​	$	7,181	​	​
Noncontrolling interests	​		791	​		1,599	​		4,233	​	​
Total income before income taxes	​	$	3,351	​	$	7,393	​	$	11,414	​	​

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As of December 29, 2019, the noncontrolling interest holder of two joint ventures have the option to require the Company to purchase their interest, though not currently redeemable.  Since redemption of the noncontrolling interests is outside of the Company’s control, the noncontrolling interests are presented in the caption “Redeemable noncontrolling interests” in the Consolidated Balance Sheets.

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The following summarizes changes in our redeemable noncontrolling interests in 2019 and 2018 (in thousands):

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​	​	​	​	​
Balance at December 31, 2017		$	6,738
Net loss	​		(274)	​
Distributions	​		(1,000)	​
Balance at December 30, 2018		$	5,464
Net loss	​	​	(519)	​
Contributions	​	​	840	​
Distributions	​		—	​
Balance at December 29, 2019	​	$	5,785	​

​

X

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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