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Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of impairment charges

As a result of the impairment testing the Company recorded the following impairment charges, for the markets indicated below, within Other operating income (expenses), net on the consolidated statements of income:

Fiscal year		Markets		Total
2019		Mexico, Puerto Rico, USVI, Peru, Aruba, Curacao, Colombia and Venezuela		$	8,790
2018		Mexico, Puerto Rico, USVI, Peru, Colombia, Venezuela and Trinidad and Tobago.		18,950
2017		Mexico, Puerto Rico, USVI, Peru, Ecuador, Colombia, Venezuela and Trinidad and Tobago		17,564

Schedule of goodwill impairment

As a result of the analyses performed the Company recorded the following impairment charges, related to goodwill generated in the acquisition of franchised restaurants, for the markets indicated below within Other operating income (expenses), net on the consolidated statements of income:

Fiscal year		Markets		Total
2019		Ecuador		$	273
2018		Peru		167
2017		Mexico		200

Schedule of impact of adoption

Furthermore, the changes made to the consolidated balance sheet as of January 1, 2018 for the adoption of ASC 606 were as follows:

Revenue recognition (continued)

Balance Sheet		Balance at December 31, 2017				Adjustments Due to ASC 606				Balance at January 1, 2018
ASSETS
Non-current Assets
Deferred income taxes		74,299				1,555				75,854
LIABILITIES AND EQUITY
Current liabilities
Accrued payroll and other liabilities		119,088				339				119,427
Non-current liabilities
Accrued payroll and other liabilities		29,366				5,012				34,378
EQUITY
Retained earnings		401,134				(3,796	)			397,338

There are no expectations that the adoption of the new revenue standard will have a material impact within the net income on an ongoing basis. The disclosure of the impact of adoption on the consolidated balance sheet and income statements, as of December 31, 2018 and for the fiscal year ended December 31, 2018, is as follows:

		As of December 31, 2018
Balance Sheet		As Reported				Balances Without Adoption of ASC 606				Effect of Change
ASSETS
Non-current Assets
Deferred income taxes		58,334				56,522				1,812
LIABILITIES AND EQUITY
Current liabilities
Accrued payroll and other liabilities		94,166				93,770				396
Non-current liabilities
Accrued payroll and other liabilities		35,322				29,495				5,827
EQUITY
Retained earnings		413,074				417,485				(4,411	)

	For the fiscal year ended December 31, 2018
Income Statement		As Reported				Balances Without Adoption of ASC 606				Effect of Change
Revenues from franchised restaurants		148,962				149,834				(872	)
Income tax expense		(48,136	)			(48,393	)			257

Furthermore, the changes made to the consolidated balance sheet as of January 1, 2019 for the adoption of ASC 842 were as follows:

Consolidated Balance Sheet		Balance at December 31, 2018			Adjustments Due to ASC 842			Balance at January 1, 2019
ASSETS
Non-current assets
Lease right of use asset, net		—			896,682			896,682			(i)
LIABILITIES AND EQUITY
Current liabilities
Operating lease liabilities		—			72,272			72,272			(ii)
Non-current liabilities
Accrued payroll and other liabilities		35,322			(16,404	)		18,918			(iii)
Operating lease liabilities		—			840,814			840,814			(iv)

(i) Represents capitalization of operating lease right of use assets of $913,086 net of the reclassification of straight-line rent accrual of $16,404.

(ii) Represents recognition of current portion of operating lease liabilities.

(iii) Represents reclassification of straight-line rent accrual to lease right of use asset, net.

(iv) Represents recognition of non-current portion of operating lease liabilities.

The disclosure of the impact of adoption on the consolidated balance sheet and income statement, as of December 31, 2019 and for the fiscal year ended in December 31, 2019, are as follows:

		As of December 31, 2019
Consolidated Balance Sheet		As Reported			Balances Without Adoption of ASC 842			Effect of Change
ASSETS
Non-current assets
Lease right of use asset, net		922,165			—			922,165
LIABILITIES AND EQUITY
Current liabilities
Operating lease liabilities		70,147			—			70,147
Non-current liabilities
Accrued payroll and other liabilities		23,497			41,084			(17,587	)
Operating lease liabilities		861,582			—			861,582
EQUITY
Retained earnings		471,149			467,560			3,589
Accumulated other comprehensive loss		(519,505	)		(523,939	)		4,434

		For the fiscal year ended December 31, 2019
Consolidated Statement of Income		As Reported			Balances Without Adoption of ASC 842			Effect of Change
Foreign currency exchange results		12,754			9,165			3,589

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