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Franchise arrangements (Tables) | 12 Months Ended
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Dec. 31, 2020
Franchise Arrangements [Abstract] |
Schedule of revenues from franchised restaurants | Revenues from franchised restaurants for fiscal years 2020, 2019 and 2018 consisted of:
|  | 2020 |  | 2019 |  | 2018
Rent (i) |  | $ | 89,123 |  |  | $ | 145,860 |  |  | $ | 148,094 |
Initial fees (ii) (iii) |  | 203 |  |  | 287 |  |  | 195 |
Royalty fees (iv) |  | 275 |  |  | 643 |  |  | 673 |
Total |  | $ | 89,601 |  |  | $ | 146,790 |  |  | $ | 148,962 |
(i)Includes rental income of own buildings and subleases. As of December 31, 2020 and 2019 the subleases rental income amounted to $74,723 and $114,459, respectively. (ii)Presented net of initial fees owed to McDonald’s Corporation for $493, $1,456 and $1,323 in 2020, 2019 and 2018, respectively. (iii)On January 1, 2018, the Company adopted ASC 606 “Revenue Recognition - Revenue from Contracts with Customers”. As such, initial franchise fees received are deferred over the term of the franchise agreement. See Note 3 Revenue Recognition, for details. (iv)Presented net of royalties fees owed to McDonald’s Corporation for $36,554, $57,709 and $57,733 in 2020, 2019 and 2018, respectively. As a consequence of the negative impacts of the spread of COVID-19 in the operations, McDonald’s granted a deferral of all the royalties payments due to sales in March, April, May, June and July 2020 until the first half of 2021.
Schedule of future minimum rental payments for operating leases | At December 31, 2020, future minimum rent payments due to the Company under existing franchised agreements are:
|  | Owned sites |  | Leased sites |  | Total
2021 |  | $ | 3,312 |  |  | $ | 47,661 |  |  | $ | 50,973 |
2022 |  | 2,648 |  |  | 42,458 |  |  | 45,106 |
2023 |  | 2,413 |  |  | 36,985 |  |  | 39,398 |
2024 |  | 2,321 |  |  | 31,915 |  |  | 34,236 |
2025 |  | 2,315 |  |  | 28,547 |  |  | 30,862 |
Thereafter |  | 9,754 |  |  | 135,349 |  |  | 145,103 |
Total |  | $ | 22,763 |  |  | $ | 322,915 |  |  | $ | 345,678 |

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919396-209981 + Details
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