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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 27, 2015

Designated as hedging instrument [Member]

Derivative [Line Items]

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value of the Company’s interest rate swaps as well as their classification on the Company’s Consolidated Balance Sheet:

(dollars in thousands)	DECEMBER 27, 2015				DECEMBER 28, 2014				CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - liability	$	5,142			$	2,617			Accrued and other current liabilities
Interest rate swaps - liability	5,007				1,307				Other long-term liabilities, net
Total fair value of derivative instruments (1)	$	10,149			$	3,924
Accrued interest	$	556			$	—			Accrued and other current liabilities

____________________

(1)    See Note 17 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Schedule of derivatives instruments statements of financial performance and financial position, location

The following table summarizes the effects of the interest rate swaps on Net income for the period indicated:

	FISCAL YEAR
(dollars in thousands)	2015
Interest rate swap expense recognized in Interest expense, net (1)	$	(3,664	)
Income tax benefit recognized in Provision (benefit) for income taxes	1,429
Total effects of the interest rate swaps on Net income	$	(2,235	)

____________________

(1) During fiscal years 2015 and 2014, the Company did not recognize any gain or loss as a result of hedge ineffectiveness.

Not designated as hedging instrument [Member]

Derivative [Line Items]

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value of the Company’s non-designated derivative instruments as well as their classification on its Consolidated Balance Sheets:

(dollars in thousands)	DECEMBER 27, 2015				DECEMBER 28, 2014				CONSOLIDATED BALANCE SHEET CLASSIFICATION
Derivative assets:
Foreign currency forward contracts	$	59			$	—			Other current assets, net
Derivative liabilities:
Foreign currency forward contracts	$	703			$	—			Accrued and other current liabilities
Commodities	583				566				Accrued and other current liabilities
	$	1,286			$	566

Derivative instruments, gain (loss)

The following table summarizes the effects of non-designated derivative instruments on Net income for the periods indicated:

	CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION		FISCAL YEAR
(in thousands)			2015				2014				2013
Foreign currency forward contracts	General and administrative		$	(644	)		$	—			$	—
Commodities	Other restaurant operating expense		(455		)		(629		)		(59		)
Total			$	(1,099	)		$	(629	)		$	(59	)

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959

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