Note P – Supplemental Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Dec. 02, 2014

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	47,866		$	304		$	-		$	48,170
Accounts receivable		2,088			3,543			-			5,631
Inventories		18,762			7,958			-			26,720
Income tax receivable		143,164			-			(139,990	)		3,174
Other current assets		16,694			3,040			-			19,734
Total current assets		228,574			14,845			(139,990	)		103,429
Property and equipment, net		570,506			201,320			-			771,826
Investment in subsidiaries		134,430			-			(134,430	)		-
Due from/(to) subsidiaries		79,676			220,055			(299,731	)		-
Other assets		47,471			11,989			-			59,460
Total assets	$	1,060,657		$	448,209		$	(574,151	)	$	934,715
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	21,339		$	5,626		$	-		$	26,965
Accrued and other current liabilities		43,125			34,346			-			77,471
Current maturities of long-term debt, including capital leases		(354	)		4,860			-			4,506
Deferred income taxes		3,062			(3,004	)		-			58
Income tax payable		-			139,990			(139,990	)		-
Total current liabilities		67,172			181,818			(139,990	)		109,000
Long-term debt and capital leases, less current maturities		213,204			34,711			-			247,915
Deferred income taxes		(1,867	)		4,091			-			2,224
Due to/(from) subsidiaries		220,055			79,676			(299,731	)		-
Other deferred liabilities		102,762			13,483			-			116,245
Total liabilities		601,326			313,779			(439,721	)		475,384
Shareholders’ equity:
Common stock		621			-			-			621
Capital in excess of par value		80,165			-			-			80,165
Retained earnings		388,518			134,430			(134,430	)		388,518
Accumulated other comprehensive loss		(9,973	)		-			-			(9,973	)
Total shareholders’ equity		459,331			134,430			(134,430	)		459,331
Total liabilities & shareholders’ equity	$	1,060,657		$	448,209		$	(574,151	)	$	934,715

	Parent			Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	51,012		$	314	$	-		$	51,326
Accounts receivable		1,725			3,136		-			4,861
Inventories		15,114			6,060		-			21,174
Income tax receivable		138,524			-		(136,391	)		2,133
Deferred income taxes		(548	)		3,945		-			3,397
Other current assets		14,610			2,289		-			16,899
Total current assets		220,437			15,744		(136,391	)		99,790
Property and equipment, net		587,783			207,063		-			794,846
Investment in subsidiaries		158,266			-		(158,266	)		-
Due from/(to) subsidiaries		78,612			243,665		(322,277	)		-
Other assets		48,780			13,011		-			61,791
Total assets	$	1,093,878		$	479,483	$	(616,934	)	$	956,427
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	20,545		$	5,656	$	-		$	26,201
Accrued and other current liabilities		46,450			36,356		-			82,806
Current maturities of long-term debt, including capital leases		(341	)		5,157					4,816
Income tax payable		-			136,391		(136,391	)		-
Total current liabilities		66,654			183,560		(136,391	)		113,823
Long-term debt and capital leases, less current maturities		213,039			40,836		-			253,875
Deferred income taxes		(445	)		3,945		-			3,500
Due to/(from) subsidiaries		243,665			78,612		(322,277	)		-
Other deferred liabilities		109,756			14,264		-			124,020
Total liabilities		632,669			321,217		(458,668	)		495,218
Shareholders’ equity:
Common stock		614			-		-			614
Capital in excess of par value		76,269			-		-			76,269
Retained earnings		395,226			158,266		(158,266	)		395,226
Accumulated other comprehensive loss		(10,900	)		-		-			(10,900	)
Total shareholders’ equity		461,209			158,266		(158,266	)		461,209
Total liabilities & shareholders’ equity	$	1,093,878		$	479,483	$	(616,934		$	956,427

Condensed Income Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	188,572		$	72,634		$	-		$	261,206
Franchise revenue		38			1,415			-			1,453
		188,610			74,049			-			262,659
Operating costs and expenses:
Cost of goods sold		51,718			19,928			-			71,646
Payroll and related costs		66,348			27,616			-			93,964
Other restaurant operating costs		43,496			16,601			-			60,097
Depreciation		9,344			3,194			-			12,538
Selling, general, and administrative		16,548			10,744			-			27,292
Intercompany selling, general, and administrative allocations		10,473			(10,473	)		-			-
Closures and impairments		1,073			2			-			1,075
Equity in earnings of subsidiaries		(4,326	)		-			4,326			-
Interest expense, net		4,736			1,179			-			5,915
Intercompany interest expense/(income)		2,998			(2,998	)		-			-
		202,408			65,793			4,326			272,527
(Loss)/income before income taxes		(13,798	)		8,256			(4,326	)		(9,868	)
(Benefit)/provision for income taxes		(4,525	)		3,930			-			(595	)
Net loss	$	(9,273	)	$	4,326		$	(4,326	)	$	(9,273	)
Other comprehensive loss:
Pension liability reclassification, net of tax		464			-			-			464
Total comprehensive loss	$	(8,809	)	$	4,326		$	(4,326	)	$	(8,809	)

	Parent			Guarantor			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	391,123		$	149,540		$	-		$	540,663
Franchise revenue		184			2,994			-			3,178
		391,307			152,534			-			543,841
Operating costs and expenses:
Cost of goods sold		106,248			40,545			-			146,793
Payroll and related costs		134,390			55,416			-			189,806
Other restaurant operating costs		86,908			32,988			-			119,896
Depreciation		18,731			6,465			-			25,196
Selling, general, and administrative		36,769			21,424			-			58,193
Intercompany selling, general, and administrative allocations		21,615			(21,615	)		-			-
Closures and impairments		2,304			253			-			2,557
Equity in earnings of subsidiaries		(12,107	)		-			12,107			-
Interest expense, net		9,247			2,090			-			11,337
Intercompany interest expense/(income)		5,890			(5,890	)		-			-
		409,995			131,676			12,107			553,778
(Loss)/income before income taxes		(18,688	)		20,858			(12,107	)		(9,937	)
(Benefit)/provision for income taxes		(11,980	)		8,751			-			(3,229	)
Net loss	$	(6,708	)	$	12,107		$	(12,107	)	$	(6,708	)
Other comprehensive loss:
Pension liability reclassification, net of tax		927			-			-			927
Total comprehensive loss	$	(5,781	)	$	12,107		$	(12,107	)	$	(5,781	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	198,850		$	75,869		$	-		$	274,719
Franchise revenue		98			1,392			-			1,490
		198,948			77,261			-			276,209
Operating costs and expenses:
Cost of goods sold		56,320			21,349			-			77,669
Payroll and related costs		69,365			28,152			-			97,517
Other restaurant operating costs		46,493			18,796			-			65,289
Depreciation		10,208			3,707			-			13,915
Selling, general, and administrative		25,724			11,307			-			37,031
Intercompany selling, general, and administrative allocations		14,008			(14,008	)		-			-
Closures and impairments		8,058			6,085			-			14,143
Equity in earnings of subsidiaries		104			-			(104	)		-
Interest expense, net		5,171			1,449			-			6,620
Intercompany interest expense/(income)		3,229			(3,229	)		-			-
Loss on extinguishment of debt		672			-			-			672
		239,352			73,608			(104	)		312,856
(Loss)/income from continuing operations before income taxes		(40,404	)		3,653			104			(36,647	)
(Benefit)/provision for income taxes from continuing operations		(5,667	)		3,757			-			(1,910	)
(Loss)/income from continuing operations		(34,737	)		(104	)		104			(34,737	)
Income from discontinued operations, net of tax		354			-			-			354
Net (loss)/income	$	(34,383	)	$	(104	)	$	104		$	(34,383	)
Other comprehensive income:
Pension liability reclassification, net of tax		477			-			-			477
Total comprehensive (loss)/income	$	(33,906	)	$	(104	)	$	104		$	(33,906	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	408,932		$	153,879		$	-		$	562,811
Franchise revenue		119			2,953			-			3,072
		409,051			156,832			-			565,883
Operating costs and expenses:
Cost of goods sold		114,847			42,760			-			157,607
Payroll and related costs		142,891			57,359			-			200,250
Other restaurant operating costs		94,895			37,928			-			132,823
Depreciation		20,572			7,552			-			28,124
Selling, general, and administrative		51,718			22,328			-			74,046
Intercompany selling, general, and administrative allocations		28,771			(28,771	)		-			-
Closures and impairments		13,223			8,953			-			22,176
Equity in earnings of subsidiaries		(4,421	)		-			4,421			-
Interest expense, net		10,231			3,142			-			13,373
Intercompany interest expense/(income)		6,414			(6,414	)		-			-
Loss on extinguishment of debt		1,183			-			-			1,183
		480,324			144,837			4,421			629,582
(Loss)/income from continuing operations before income taxes		(71,273	)		11,995			(4,421	)		(63,699	)
(Benefit)/provision for income taxes from continuing operations		(14,637	)		7,574			-			(7,063	)
(Loss)/income from continuing operations		(56,636	)		4,421			(4,421	)		(56,636	)
Income from discontinued operations, net of tax		11			-			-			11
Net (loss)/income	$	(56,625	)	$	4,421		$	(4,421	)	$	(56,625	)
Other comprehensive income:
Pension liability reclassification, net of tax		955			-			-			955
Total comprehensive (loss)/income	$	(55,670	)	$	4,421		$	(4,421	)	$	(55,670	)

Condensed Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	25,640		$	43,870		$	(59,553	)	$	9,957
Investing activities:
Purchases of property and equipment		(11,002	)		(2,819	)		-			(13,821	)
Proceeds from disposal of assets		4,607			997			-			5,604
Other, net		1,146			135			-			1,281
Net cash used by investing activities		(5,249	)		(1,687	)		-			(6,936	)
Financing activities:
Principal payments on long-term debt		(16	)		(6,250	)		-			(6,266	)
Stock repurchases		(55	)		-			-			(55	)
Payments for debt issuance costs		(75	)		-			-			(75	)
Proceeds from exercise of stock options		197			-			-			197
Excess tax benefits from share-based compensation		22			-			-			22
Intercompany transactions		(23,610	)		(35,943	)		59,553			-
Net cash used by financing activities		(23,537	)		(42,193	)		59,553			(6,177	)
Decrease in cash and cash equivalents		(3,146	)		(10	)		-			(3,156	)
Cash and cash equivalents:
Beginning of year		51,012			314			-			51,326
End of quarter	$	47,866		$	304		$	-		$	48,170

	Parent			Guarantors			Eliminations			Consolidated
Net cash (used)/provided by operating activities	$	(22,630	)	$	36,648		$	(13,590	)	$	428
Investing activities:
Purchases of property and equipment		(12,902	)		(4,795	)		-			(17,697	)
Proceeds from sale-leaseback transactions, net		5,637			-			-			5,637
Proceeds from disposal of assets		7,434			1,023			-			8,457
Other, net		187			-			-			187
Net cash provided/(used) by investing activities		356			(3,772	)		-			(3,416	)
Financing activities:
Principal payments on long-term debt		(12,968	)		(12,838	)		-			(25,806	)
Stock repurchases		(540	)		-			-			(540	)
Payments for debt issuance costs		(1,718	)		-			-			(1,718	)
Proceeds from exercise of stock options		1,480			-			-			1,480
Excess tax benefits from share-based compensation		283			-			-			283
Intercompany transactions		6,415			(20,005	)		13,590			-
Net cash used by financing activities		(7,048	)		(32,843	)		13,590			(26,301	)
(Decrease)/increase in cash and cash equivalents		(29,322	)		33			-			(29,289	)
Cash and cash equivalents:
Beginning of year		52,635			272			-			52,907
End of quarter	$	23,313		$	305		$	-		$	23,618