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v3.21.1

Summary of significant accounting policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
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 |  |
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, were 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)
Recent accounting pronouncements (continued) (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, were 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 |
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
2020 |  | Mexico, Puerto Rico, USVI, Peru, Aruba, Colombia, Venezuela, Ecuador, Panama and Argentina |  | $ | 6,636 |
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 |
Schedule of goodwill impairment | As a result of the analyses performed during the fiscal years 2020, 2019 and 2018, 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 (expenses) income, net on the consolidated statements of income:
Fiscal year |  | Markets |  | Total
2020 |  | Mexico |  | $ | 1,085 |
2019 |  | Ecuador |  | 273 |
2018 |  | Peru |  | 167 |

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