Note 14 – Supplemental Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Jun. 02, 2015

Disclosure Text Block Supplement [Abstract]

Condensed Balance Sheet [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	75,034		$	297		$	–		$	75,331
Accounts receivable		1,557			3,730			–			5,287
Inventories		14,581			5,830			–			20,411
Income tax receivable		153,146			–			(153,146	)		–
Other current assets		16,169			2,465			–			18,634
Total current assets		260,487			12,322			(153,146	)		119,663
Property and equipment, net		554,089			198,085			–			752,174
Investment in subsidiaries		128,824			–			(128,824	)		–
Due from/(to) subsidiaries		66,019			215,373			(281,392	)		–
Other assets		47,148			10,406			–			57,554
Total assets	$	1,056,567		$	436,186		$	(563,362	)	$	929,391
Liabilities & Shareholders’ Equity
Current liabilities:
Accounts payable	$	18,533		$	4,472			–		$	23,005
Accrued and other current liabilities		42,458			33,764			–			76,222
Current maturities of long-term debt, including capital leases		(368	)		11,229			–			10,861
Income tax payable		–			154,215			(153,146	)		1,069
Deferred income taxes, net		2,839			(2,832	)		–			7
Total current liabilities		63,462			200,848			(153,146	)		111,164
Long-term debt and capital leases, less current maturities		213,412			20,761			–			234,173
Deferred income taxes, net		(3,865	)		5,307			–			1,442
Due to/(from) subsidiaries		215,373			66,019			(281,392	)		–
Other deferred liabilities		102,602			14,427			–			117,029
Total liabilities		590,984			307,362			(434,538	)		463,808
Shareholders’ equity:
Common stock		621			–			–			621
Capital in excess of par value		83,870			–			–			83,870
Retained earnings		392,032			128,824			(128,824	)		392,032
Accumulated other comprehensive loss		(10,940	)		–			–			(10,940	)
Total shareholders’ equity		465,583			128,824			(128,824	)		465,583
Total liabilities & shareholders’ equity	$	1,056,567		$	436,186		$	(563,362	)	$	929,391

	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, net		(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, net		(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	$	809,171		$	310,971			–		$	1,120,142
Franchise revenue		238			6,186			–			6,424
		809,409			317,157			–			1,126,566
Operating costs and expenses:
Cost of goods sold		220,537			84,769			–			305,306
Payroll and related costs		270,535			112,726			–			383,261
Other restaurant operating costs		176,130			68,222			–			244,352
Depreciation		37,155			12,993			–			50,148
Selling, general, and administrative		75,418			39,909			–			115,327
Intercompany selling, general, and administrative allocations		44,768			(44,768	)		–			–
Closures and impairments, net		7,914			2,628			–			10,542
Equity in earnings of subsidiaries		(28,148	)		–			28,148			–
Interest expense, net		18,489			4,246			–			22,735
Intercompany interest expense/(income)		12,009			(12,009	)		–			–
		834,807			268,716			28,148			1,131,671
(Loss)/income before income taxes		(25,398	)		48,441			(28,148	)		(5,105	)
(Benefit)/provision for income taxes		(22,204	)		20,293			–			(1,911	)
Net (loss)/income	$	(3,194	)	$	28,148		$	(28,148	)	$	(3,194	)
Other comprehensive loss:
Pension liability reclassification, net of tax		(40	)		–			–			(40	)
Total comprehensive (loss)/income	$	(3,234	)	$	28,148		$	(28,148	)	$	(3,234	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	842,842		$	319,581			–		$	1,162,423
Franchise revenue		223			6,100			–			6,323
		843,065			325,681			–			1,168,746
Operating costs and expenses:
Cost of goods sold		233,562			87,959			–			321,521
Payroll and related costs		287,358			117,021			–			404,379
Other restaurant operating costs		187,055			73,392			–			260,447
Depreciation		40,188			14,640			–			54,828
Selling, general, and administrative		87,248			49,903			–			137,151
Intercompany selling, general, and administrative allocations		59,257			(59,257	)		–			–
Closures and impairments, net		18,904			13,927			–			32,831
Trademark impairment		–			855			–			855
Equity in earnings of subsidiaries		(21,005	)		–			21,005			–
Interest expense, net		19,978			4,967			–			24,945
Intercompany interest expense/(income)		13,081			(13,081	)		–			–
Loss on extinguishment of debt		1,364			–			–			1,364
		926,990			290,326			21,005			1,238,321
(Loss)/income from continuing operations before income taxes		(83,925	)		35,355			(21,005	)		(69,575	)
(Benefit)/provision for income taxes from continuing operations		(19,015	)		14,350			–			(4,665	)
(Loss)/income from continuing operations		(64,910	)		21,005			(21,005	)		(64,910	)
Income from discontinued operations, net of tax		564			–			–			564
Net (loss)/income	$	(64,346	)	$	21,005		$	(21,005	)	$	(64,346	)
Other comprehensive income:
Pension liability reclassification, net of tax		45			–			–			45
Total comprehensive (loss)/income	$	(64,301	)	$	21,005		$	(21,005	)	$	(64,301	)

	Parent			Guarantors			Eliminations			Consolidated
Revenue:
Restaurant sales and operating revenue	$	904,761		$	340,465			–		$	1,245,226
Franchise revenue		188			6,073			–			6,261
		904,949			346,538			–			1,251,487
Operating costs and expenses:
Cost of goods sold		248,378			93,134			–			341,512
Payroll and related costs		298,194			121,485			–			419,679
Other restaurant operating costs		185,224			73,790			–			259,014
Depreciation		43,541			15,581			–			59,122
Selling, general, and administrative		91,587			47,195			–			138,782
Intercompany selling, general, and administrative allocations		68,466			(68,466	)		–			–
Closures and impairments, net		13,181			1,475			–			14,656
Goodwill and trademark impairments		9,023			5,035			–			14,058
Equity in earnings of subsidiaries		(38,485	)		–			38,485			–
Interest expense, net		20,920			5,656			–			26,576
Intercompany interest expense/(income)		13,826			(13,826	)		–			–
Loss on extinguishment of debt		22			–			–			22
		953,877			281,059			38,485			1,273,421
(Loss)/income from continuing operations before income taxes		(48,928	)		65,479			(38,485	)		(21,934	)
Provision/(benefit) for income taxes from continuing operations		(25,494	)		26,994			–			1,500
(Loss)/income from continuing operations		(23,434	)		38,485			(38,485	)		(23,434	)
Loss from discontinued operations, net of tax		(15,979	)		(810	)		810			(15,979	)
Net (loss)/income	$	(39,413	)	$	37,675		$	(37,675	)	$	(39,413	)
Other comprehensive income:
Pension liability reclassification, net of tax		3,312			–			–			3,312
Total comprehensive (loss)/income	$	(36,101	)	$	37,675		$	(37,675	)	$	(36,101	)

Condensed Cash Flow Statement [Table Text Block]

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	63,076		$	77,717		$	(85,882	)	$	54,911
Investing activities:
Purchases of property and equipment		(23,326	)		(7,684	)		–			(31,010	)
Proceeds from disposal of assets		10,213			1,047			–			11,260
Other, net		2,118			135			–			2,253
Net cash used by investing activities		(10,995	)		(6,502	)		–			(17,497	)
Financing activities:
Principal payments on long-term debt		4			(13,642	)		–			(13,638	)
Stock repurchases		(73	)		–			–			(73	)
Payments for debt issuance costs		(293	)		–			–			(293	)
Proceeds from exercise of stock options		556			–			–			556
Excess tax benefits from share-based compensation		39			–			–			39
Intercompany transactions		(28,292	)		(57,590	)		85,882			–
Net cash used by financing activities		(28,059	)		(71,232	)		85,882			(13,409	)
Increase/(decrease) in cash and cash equivalents		24,022			(17	)		–			24,005
Cash and cash equivalents:
Beginning of year		51,012			314			-			51,326
End of year	$	75,034		$	297		$	-		$	75,331

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	5,854		$	57,064		$	(17,543	)	$	45,375
Investing activities:
Purchases of property and equipment		(21,132	)		(7,207	)		–			(28,339	)
Proceeds from sale-leaseback transactions, net		5,637			–			–			5,637
Proceeds from disposal of assets		14,503			1,023			–			15,526
Other, net		973			–			–			973
Net cash used by investing activities		(19	)		(6,184	)		–			(6,203	)
Financing activities:
Principal payments on long-term debt		(20,019	)		(20,213	)		–			(40,232	)
Stock repurchases		(579	)		–			–			(579	)
Payments for debt issuance costs		(1,802	)		–			–			(1,802	)
Proceeds from exercise of stock options		1,576			–			–			1,576
Excess tax benefits from share-based compensation		284			–			–			284
Intercompany transactions		13,082			(30,625	)		17,543			–
Net cash used by financing activities		(7,458	)		(50,838	)		17,543			(40,753	)
(Decrease)/increase in cash and cash equivalents		(1,623	)		42			–			(1,581	)
Cash and cash equivalents:
Beginning of year		52,635			272			–			52,907
End of year	$	51,012		$	314		$	-		$	51,326

	Parent			Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	34,877		$	89,925		$	(88,848	)	$	35,954
Investing activities:
Purchases of property and equipment		(31,531	)		(5,586	)		–			(37,117	)
Proceeds from sale-leaseback transactions, net		51,765			–			–			51,765
Proceeds from disposal of assets		4,421			2,576			–			6,997
Other, net		468			–			–			468
Net cash used by investing activities		25,123			(3,010	)		–			22,113
Financing activities:
Principal payments on long-term debt		(14,514	)		(12,666	)		–			(27,180	)
Stock repurchases		(30,278	)		–			–			(30,278	)
Payments for debt issuance costs		(358	)		–			–			(358	)
Proceeds from exercise of stock options		4,090			–			–			4,090
Excess tax benefits from share-based compensation		382			–			–			382
Intercompany transactions		(14,673	)		(74,175	)		88,848			–
Net cash used by financing activities		(55,351	)		(86,841	)		88,848			(53,344	)
Increase in cash and cash equivalents		4,649			74			–			4,723
Cash and cash equivalents:
Beginning of year		47,986			198			–			48,184
End of year	$	52,635		$	272		$	-		$	52,907