XML 23 R10.htm IDEA: XBRL DOCUMENT
v3.22.4

CONSOLIDATION OF VARIABLE INTEREST ENTITIES | 12 Months Ended
--- | ---
Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
CONSOLIDATION OF VARIABLE INTEREST ENTITIES | CONSOLIDATION OF VARIABLE INTEREST ENTITIES The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the required disclosures associated with the Company’s consolidated VIEs:
| October 1, 2022 |  | October 2, 2021
| (in thousands)
Cash and cash equivalents | $ | 834 |  |  | $ | 785 |
Accounts receivable | 140 |  |  | 358 |
Inventories | 38 |  |  | 35 |
Prepaid and refundable income taxes | 278 |  |  | 278 |
Prepaid expenses and other current assets | 17 |  |  | 277 |
Due from Ark Restaurants Corp. and affiliates (1) | 400 |  |  | 187 |
Fixed assets - net | 212 |  |  | 218 |
Operating lease right-of-use assets - net | 2,076 |  |  | 2,342 |
Other assets | 11 |  |  | 82 |
Total assets | $ | 4,006 |  |  | $ | 4,562 |
Accounts payable - trade | $ | 135 |  |  | $ | 213 |
Accrued expenses and other current liabilities | 417 |  |  | 374 |
Current portion of operating lease liabilities | 272 |  |  | 249 |
Current portion of notes payable | — |  |  | 95 |
Operating lease liabilities, less current portion | 1,921 |  |  | 2,193 |
Notes payable, less current portion | — |  |  | 101 |
Total liabilities | 2,745 |  |  | 3,225 |
Equity of variable interest entities | 1,261 |  |  | 1,337 |
Total liabilities and equity | $ | 4,006 |  |  | $ | 4,562 |
(1)Amounts due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation. The liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
Name: | us-gaap_VariableInterestEntityDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration