Financing Obligations

6 Months Ended

Jun. 30, 2012

Leases [Abstract]

Financing Obligations

Financing Obligations

As of June 30, 2012, future minimum lease payments under financing obligations during the initial terms of the leases related to sale-leaseback transactions are as follows:

Fiscal Years	(In millions)
Remainder of 2012	$	7.2		(1	)
2013	17.4
2014	17.6
2015	19.0			(1	)
2016	17.6
Thereafter	207.5
Total minimum lease payments	286.3
Less interest	(130.9		)
Total financing obligations	155.4
Less current portion	(3.8		)	(2	)
Long-term financing obligations	$	151.6

(1)     Due to the varying closing dates of the Company’s fiscal years, 11 monthly payments will be made in fiscal 2012 and 13 monthly payments will be made in fiscal 2015.

(2)     Included in “current maturities of capital lease and financing obligations” on the consolidated balance sheet.

During the six months ended June 30, 2012, the Company’s continuing involvement with six properties subject to financing obligations was ended by assignment of the lease obligations to a qualified franchisee. As a result, the Company’s financing obligations were reduced by $9.2 million.