XML 27 R16.htm IDEA: XBRL DOCUMENT v3.7.0.1
Fair Value Measurements
5 Months Ended
May 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 10 – Fair Value Measurements

As of May 31, 2017, the carrying values of cash and cash equivalents, short-term investments, accounts receivable and accounts payable approximated their fair values because of the short-term nature of these instruments.

In addition, certain of the Company’s assets, such as property, plant and equipment, goodwill and intangible assets, are measured at fair value on a non-recurring basis, if determined to be impaired.

During the quarter and year to date ended May 31, 2017, we recorded restaurant-level impairment (Level 3) of $16 million and $18 million, respectively. During the quarter and year to date ended May 31, 2016, we recorded restaurant-level impairment (Level 3) of $33 million and $33 million, respectively. The remaining net book value of the assets measured at fair value as of May 31, 2017, subsequent to these impairments, was not significant.