Financing Obligations

9 Months Ended

Sep. 30, 2011

Leases [Abstract]

Financing Obligations

6. Financing Obligations

As of September 30, 2011, 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 2011	$	5.6
2012(1)	20.7
2013	23.0
2014	23.2
2015	23.3
Thereafter	278.9
Total minimum lease payments	374.7
Less interest	(165.9		)
Total financing obligations	208.8
Less current portion(2)	(5.7		)
Long-term financing obligations	$	203.1

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

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

During the nine months ended September 30, 2011, the Company’s continuing involvement with 17 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 $32.7 million.