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Summary of Refranchisings and Franchise Acquisitions (Tables)

12 Months Ended

Sep. 29, 2024

Summary Of Refranchisings, Franchisee Development And Acquisitions [Abstract]

Summary Of Refranchisings And Franchise Acquisitions

Refranchisings — The following table summarizes the number of restaurants sold to franchisees and gains recognized in each fiscal year (dollars in thousands):

			2024						2023						2022
Restaurants sold to Jack in the Box franchisees			—						5						15
Restaurants sold to Del Taco franchisees			47						111						—
Proceeds from the sale of company-operated restaurants (1)			$	19,400					$	85,221					$	6,391
Broker commissions			—						(1,614)						—
Net assets sold (primarily property and equipment)			(5,310)						(17,101)						(1,565)
Goodwill related to the sale of company-operated restaurants			(6,835)						(35,544)						(948)
Franchise fees			(1,266)						(3,086)						—
Sublease liabilities, net			(140)						(8,559)						—
Lease termination			(225)						(393)						—
Other (2)			(2,369)						(926)						—
Gains on the sale of company-operated restaurants			$	3,255					$	17,998					$	3,878

________________________

(1)Amounts in 2024, 2023, and 2022 include additional proceeds of $1.5 million, $0.9 million, and $1.4 million, respectively, related to the extension of the underlying franchise and lease agreements from the sale of restaurants in prior years.

(2)Amount in 2024 is primarily comprised of a $2.2 million loss on sale of assets related to a Del Taco refranchising transaction that closed in the second quarter of 2024. Amount in 2023 is primarily related to charges for a restaurant that was closed due to refranchising the related market.

Schedule of Franchise Acquisitions

The following summarizes the purchase consideration paid to Del Taco shareholders (in thousands, except per share data):

			Amount
Del Taco shares outstanding as of March 8, 2022			36,442
Del Taco RSAs subject to accelerated vesting			805
Del Taco RSUs subject to accelerated vesting			70
Del Taco options subject to accelerated vesting			292
Total Del Taco shares outstanding			37,610
Merger Consideration (per Del Taco share)			$	12.51
Total cash consideration paid to selling shareholders			$	470,500
Del Taco transaction costs paid by Jack in the Box (1)			7,141
Del Taco closing indebtedness settled by Jack in the Box (2)			115,219
Replacement share-based payment awards pre-combination vesting expense			449
Total aggregate purchase consideration			$	593,309

_____________________

(1)Represents the portion of Del Taco merger-related transaction costs that were paid at the Closing Date by the Company.

(2)Represents the closing indebtedness of Del Taco’s existing debt that was paid at the Closing Date by the Company.

The final allocation of the purchase consideration was as follows (in thousands):

Total aggregate purchase consideration, net of $12,068 cash acquired															$	581,241
Assets:
Accounts and other receivables															4,583
Inventories															3,233
Prepaid expenses															2,950
Other current assets															105
Property and equipment															145,032
Operating lease right-of-use assets															350,289
Intangible assets															12,371
Trademarks															283,500
Other assets															5,128
Liabilities:
Current maturities of long-term debt															22
Current operating lease liabilities															21,991
Accounts payable															18,808
Accrued liabilities															112,579
Long-term debt, net of current maturities															349
Long-term operating lease liabilities, net of current portion															303,488
Deferred tax liabilities															75,355
Other long-term liabilities															13,080
Net assets acquired, excluding goodwill															$	261,519
Goodwill															$	319,722

The following table provides detail of the combined acquisitions in the following periods (dollars in thousands):

			2024						2023						2022
Restaurants acquired from Jack in the Box franchisees			—						—						13
Restaurants acquired from Del Taco franchisees			10						—						—
Purchase price (1)			(86)						—						(297)
Closing and acquisition costs			(31)						—						—
Property and equipment			3,945						—						540
Intangible assets			167						—						66
Operating lease right-of-use assets			3,479						—						—
Operating lease liability			(4,772)						—						—
Gain on the acquisition of franchise-operated restaurants			$	2,702					$	—					$	309

(1)The amounts related to outstanding receivables from franchisee forgiven upon acquisition

Disclosure of Assets Held-for-sale

Assets held for sale — Assets classified as held for sale consisted of the following at each fiscal year-end (in thousands):

			2024						2023
Jack in the Box restaurant properties (1)			$	14,567					$	11,097
Other property and equipment (2)			199						766
Del Taco restaurants to be refranchised:
Property and equipment			1,318						771
Goodwill			409						1,291
Assets held for sale			$	16,493					$	13,925

________________________

(1)Consists of properties that are currently leased to franchisees which we intend to sell the underlying real estate directly to the franchisee and/or sell and leaseback with a third party within the next twelve months.

(2)Consists primarily of owned properties of closed restaurants which we are actively marketing for sale.

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