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Allowance For Credit Losses | 12 Months Ended
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Dec. 26, 2021
Allowance For Credit Losses |
Allowance for Credit Losses | 10. Allowance for Credit Losses ​ The Company adopted ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” (“ASU 2016-13”) as of December 30, 2019 (the first day of fiscal 2020) under the modified retrospective transition method. Topic 326 requires measurement and recognition of expected versus incurred losses for financial assets held. Financial instruments subject to Topic 326 include trade accounts receivable, notes receivable and interest receivable (classified as Other assets in the Consolidated Balance Sheets) from franchisees. The impact of the adoption was not material to our consolidated financial statements. ​ Estimates of expected credit losses, even if remote, are based upon historical account write-off trends, facts about the current financial condition of the debtor, forecasts of future operating results based upon current trends of select operating metrics, and macroeconomic factors. Credit quality is monitored through the timing of payments compared to the prescribed payment terms and known facts regarding the financial condition of the franchisee or customer. Account and note balances are charged off against the allowance after recovery efforts have ceased. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The following table summarizes changes in our allowances for credit losses for accounts receivable, notes receivable and interest receivable: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​
(in thousands) | ​ | Accounts Receivable | ​ | Notes Receivable | ​ | Interest Receivable
Balance at December 29, 2019 | ​ | $ | 7,341 | ​ | $ | 3,572 | ​ | $ | 910
Cumulative effect of adoption of ASU 2016-13 | ​ | ​ | 912 | ​ | ​ | 463 | ​ | ​ | —
Balance at December 30, 2019 | ​ | $ | 8,253 | ​ | $ | 4,035 | ​ | $ | 910
Current period (benefit) provision for expected credit losses | ​ | ​ | (3,843) | ​ | ​ | (191) | ​ | ​ | 144
Write-offs charged against the allowance | ​ | ​ | (788) | ​ | ​ | (843) | ​ | ​ | —
Recoveries collected | ​ | ​ | — | ​ | ​ | (844) | ​ | ​ | —
Transfers | ​ | ​ | — | ​ | ​ | 1,054 | ​ | ​ | (1,054)
Balance at December 27, 2020 | ​ | $ | 3,622 | ​ | $ | 3,211 | ​ | $ | —
Current period (benefit) provision for expected credit losses | ​ | ​ | 16 | ​ | ​ | (583) | ​ | ​ | —
Write-offs charged against the allowance | ​ | ​ | (1,274) | ​ | ​ | (843) | ​ | ​ | —
Recoveries collected | ​ | ​ | — | ​ | ​ | (285) | ​ | ​ | —
Balance at December 26, 2021 | ​ | $ | 2,364 | ​ | $ | 1,500 | ​ | $ | —
​

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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