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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 25, 2014
Fair Value Disclosures [Abstract] |
Financial assets and liabilities measured at fair value on a recurring basis | Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
| Total |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Valuation Technique
| (In thousands) |  |
Fair value measurements as of June 25, 2014: |  |  |  |  |  |  |  |  |
Deferred compensation plan investments (1) | $ | 8,883 |  |  | $ | 8,883 |  |  | $ | — |  |  | $ | — |  |  | market approach
Interest rate swaps (2) | $ | 1,592 |  |  | — |  |  | 1,592 |  |  | — |  |  | income approach
Interest rate caps (2) | $ | 0 |  |  | $ | — |  |  | $ | 0 |  |  | $ | — |  |  | income approach
Total | $ | 10,475 |  |  | $ | 8,883 |  |  | $ | 1,592 |  |  | $ | — |  |  |
Fair value measurements as of December 25, 2013: |  |  |  |  |  |  |  |  |
Deferred compensation plan investments (1) | $ | 8,168 |  |  | $ | 8,168 |  |  | $ | — |  |  | $ | — |  |  | market approach
Interest rate swaps (2) | $ | 3,032 |  |  | $ | — |  |  | $ | 3,032 |  |  | $ | — |  |  | income approach
Interest rate caps (2) | $ | 11 |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |  |  | income approach
Total | $ | 11,211 |  |  | $ | 8,168 |  |  | $ | 3,043 |  |  | $ | — |  |  |
(1) | The fair values of our deferred compensation plan investments are based on the closing market prices of the participants’ elected investments.
(2) | The fair values of our interest rate swaps and interest rate caps are based upon Level 2 inputs, which include valuation models as reported by our counterparties. The key inputs for the valuation models are quoted market prices, interest rates and forward yield curves. See Note 7 for details on the interest rate swaps and interest rate caps.
Assets and liabilities measured at fair value on a nonrecurring basis | Those assets and liabilities measured at fair value on a nonrecurring basis are summarized below:
| Total |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Valuation Technique
| (In thousands) |  |
Fair value measurements as of December 25, 2013: |  |  |  |  |  |  |  |  |
Assets held and used (1) | $ | 1,198 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,198 |  |  | income approach
Total | $ | 1,198 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,198 |  |  |
(1) | As of December 25, 2013, impaired assets related to an underperforming restaurant were written down to their fair value. Impairment charges of $4.8 million were recognized as a component of operating (gains), losses and other charges, net in our Condensed Consolidated Statements of Income during the quarter ended December 25, 2013. To determine fair value, we used the income approach, which assumes that the future cash flows reflect current market expectations. These fair value measurements require significant judgment using Level 3 inputs, such as discounted cash flows from operations, which are not observable from the market, directly or indirectly.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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