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Papa John's Marketing Fund, Inc. | 12 Months Ended
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Dec. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Papa John's Marketing Fund, Inc. | 4. Papa John’s Marketing Fund, Inc. PJMF, which is a consolidated variable interest entity where the Company has been identified as the primary beneficiary, collects a percentage of revenues from Company-owned and franchised restaurants in the United States, for the purpose of designing and administering advertising and promotional programs for all participating Domestic restaurants. Contributions and expenditures are reported on a gross basis in the Consolidated Statements of Operations within Advertising funds revenue and Advertising funds expense. PJMF also has a wholly-owned subsidiary, Papa Card, Inc., which administers the Company’s gift card programs. Assets and liabilities of PJMF, which are utilized solely for the Company’s advertising and promotional programs, were as follows in the Consolidated Balance Sheets (in thousands):
|  | December 29, 2024 |  | December 31, 2023
Assets |  |  |  |
Current assets: |  |  |  |
Cash and cash equivalents |  | $ | 12,038 |  | $ | 5,494
Accounts receivable, net |  | 17,854 |  | 18,026
Prepaid expenses and other current assets |  | 2,683 |  | 2,223
Total current assets |  | 32,575 |  | 25,743
Deferred income taxes |  | 1,019 |  | 674
Other assets |  | 122 |  | —
Total assets |  | $ | 33,716 |  | $ | 26,417
Liabilities |  |  |  |
Current liabilities: |  |  |  |
Accounts payable |  | $ | — |  | $ | 1,509
Income and other taxes payable |  | 298 |  | —
Accrued expenses and other current liabilities |  | 30,324 |  | 22,245
Current deferred revenue |  | 4,911 |  | 4,327
Total current liabilities |  | 35,533 |  | 28,081
Deferred revenue |  | 2,783 |  | 2,627
Total liabilities |  | $ | 38,316 |  | $ | 30,708

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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