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Restructuring (Tables) | 6 Months Ended
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Jun. 30, 2024
Restructuring and Related Activities [Abstract] |
Schedule of restructuring related costs | The following table summarizes restructuring related costs recorded for the three and six months ended June 30, 2024 (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2024 |  | June 30, 2024
Long-lived asset impairment charges |  | $ | 1,422 |  |  | $ | 8,976 |
Loss on franchisee notes receivable |  | 1,564 |  |  | 1,564 |
Loss on refranchising Company-owned stores |  | 1,737 |  |  | 1,737 |
Professional services and other related costs |  | 1,355 |  |  | 2,701 |
Employee termination costs, net (a) |  | (255) |  |  | 368 |
Operating lease terminations |  | 306 |  |  | 306 |
Total international transformation costs, net |  | $ | 6,129 |  |  | $ | 15,652 |
(a) During the three months ended June 30, 2024, the Company had a partial reversal of severance originally estimated in connection with the closure of Company-owned restaurants. Includes noncash reversal of $0.1 million related to the forfeiture of unvested stock-based compensation awards.
Schedule of changes in accrued expenses related to approved initiatives | The following table presents changes in the balance of accrued expenses relating to approved initiatives, which are recorded in accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets (in thousands):
|  | Employee severance |  | Professional services and other related costs |  | Other |  | Total
Balance as of December 31, 2023 |  | $ | 1,227 |  |  | $ | 527 |  |  | $ | 29 |  |  | $ | 1,783 |
Charges |  | 444 |  |  | 2,701 |  |  | — |  |  | 3,145 |
Payments |  | (1,286) |  |  | (2,605) |  |  | (29) |  |  | (3,920) |
Balance as of June 30, 2024 |  | $ | 385 |  |  | $ | 623 |  |  | $ | — |  |  | $ | 1,008 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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