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VARIABLE INTEREST ENTITIES | 9 Months Ended
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Oct. 02, 2016
Variable interest entity not primary beneficiary abstract |
Variable interest entity disclosure [Text Block] | (14) Variable Interest Entities Once an entity is determined to be a variable interest entity (VIE), the party with the controlling financial interest, the primary beneficiary, is required to consolidate it. The Company has an installment agreement with a franchisee as the result of refranchising its Lincoln, Nebraska restaurant. While the franchise meets the definition of a VIE, the owners of the franchise operations are the primary beneficiaries of the entities, not the Company. Therefore, the fra nchise operations are not required to be consolidated in the Company’s consolidated financial statements. On August 11, 2015, the Company consummated the sale of its Greenwood, Indiana and Florence, Kentucky restaurants. In conjunction with that agreemen t, the Company entered into lease assignment agreements with the respective purchasers and landlords, releasing the Company of its obligations except in the event of default by the purchasers. As of October 2, 2016 and January 3, 2016, the amount of the f uture lease payments for which the Company would be liable in the event of a default are approximately $414,000. An accrual related to any future obligation was not considered necessary at October 2, 2016 as the Company has determined the fair value of th is guarantee was zero as there was no indication that the purchasers would not be able to pay the required lease payments. While t his franchise meets the definition of a VIE, the owners of the franchise operations are the primary beneficiaries of the enti ties, not the Company. Therefore, the franchise operations are not required to be consolidated in the Company’s consolidated financial statements. On March 1, 2016, the Company consummated the sale of Chicago, Illinois restaurants. In conjunction with th at agreement, the Company entered into lease assignment agreements with the respective purchasers and three of the landlords, releasing the Company of its obligations except in the event of default by the purchasers. As of October 2, 2016, the amount of t he future lease payments for which the company would be liable in the event of a default are approximately $2.0 million. An accrual related to any future obligation was not considered necessary at October 2, 2016 as the Company has determined the fair val ue of this guarantee was zero as there was no indication that the purchasers would not be able to pay the required lease payments. While t his franchise meets the definition of a VIE, the owners of the franchise operations are the primary beneficiaries of the entities, not the Company. Therefore, the franchise operations are not required to be consolidated in the Company’s consolidated financial statements.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=52262685&loc=SL6759159-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5728-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=52262685&loc=d3e5710-111685 + Details
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