Impairment of Long-Lived Assets

3 Months Ended

Mar. 31, 2013

Impairment of Long-Lived Assets

Our company-owned restaurant impairment losses of $2,883 for the three months ended April 1, 2012 predominantly reflect impairment charges on restaurant-level assets resulting from the deterioration in operating performance of certain restaurants and additional charges for capital improvements in restaurants impaired in prior years which did not subsequently recover.

During the three months ended April 1, 2012, we reclassified a company-owned aircraft as held and used from its previous held for sale classification. For the three months ended April 1, 2012, the Company recorded an impairment charge of $1,628 on the company-owned aircraft, which was included in “Impairment of long-lived assets.” As of March 31, 2013, the carrying value of the aircraft, which reflects current market conditions, approximated its fair value and is included in “Properties.”

These impairment losses, as detailed in the following table, represented the excess of the carrying amount over the fair value of the affected assets and are included in “Impairment of long-lived assets.”



	Three Months Ended
	April 1, 2012
Properties and intangible assets	$	2,883
Aircraft	1,628
	$	4,511