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Revenues

3 Months Ended

Mar. 27, 2019

Revenues [Abstract]

Revenues

Revenues

Our revenues are derived primarily from two sales channels, which we operate as one segment: company restaurants and franchised and licensed restaurants. The following table disaggregates our revenue by sales channels and types of goods or services.

	Quarter Ended
	March 27, 2019				March 28, 2018
	(Dollars in thousands)
Company restaurant sales	$	98,545			$	101,193
Franchise and license revenue:
Royalties	25,240				25,165
Advertising revenue	18,942				19,310
Initial and other fees	1,139				1,417
Occupancy revenue	7,545				8,188
Franchise and license revenue	52,866				54,080
Total operating revenue	$	151,411			$	155,273

Balances related to contracts with customers consist of receivables, deferred franchise revenue and deferred gift card revenue. See Note 6 for details on our receivables.

Deferred franchise revenue consists primarily of the unamortized portion of initial franchise fees that are currently being amortized into revenue and amounts related to development agreements and unopened restaurants that will begin amortizing into revenue when the related restaurants are opened. Deferred franchise revenue represents our remaining performance obligations to our franchisees, excluding amounts of variable consideration related to sales-based royalties and advertising. The components of the change in deferred franchise revenue are as follows:

	(In thousands)
Balance, December 26, 2018	$	20,538
Fees received from franchisees	517
Revenue recognized (1)	(642		)
Balance, March 27, 2019	20,413
Less current portion included in other current liabilities	2,109
Deferred franchise revenue included in other noncurrent liabilities	$	18,304

(1) Of this amount $0.6 million was included in the deferred franchise revenue balance as of December 26, 2018.

Deferred gift card liabilities consist of the unredeemed portion of gift cards sold in company restaurants and at third party locations. The balance of deferred gift card liabilities represents our remaining performance obligations to our customers. The balance of deferred gift card liabilities as of March 27, 2019 and December 26, 2018 was $4.8 million and $6.5 million, respectively. During the quarter ended March 27, 2019, we recognized revenue of $0.7 million from gift card redemptions at company restaurants.

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-URI http://asc.fasb.org/topic&trid=2122369

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- References

No definition available.

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