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OTHER GAINS AND CHARGES
9 Months Ended
Mar. 23, 2016
Other Gains and Charges [Abstract]  
OTHER GAINS AND CHARGES
OTHER GAINS AND CHARGES

Other gains and charges consist of the following (in thousands):
 
 
Thirteen Week Periods Ended
 
Thirty-Nine Week Periods Ended
 
March 23,
2016
 
March 25,
2015
 
March 23,
2016
 
March 25,
2015
Restaurant impairment charges
$
3,413

 
$
0

 
$
3,937

 
$
747

(Gain) Loss on the sale of assets, net
(1,096
)
 
0

 
(2,858
)
 
1,093

Impairment of investment
1,000

 
0

 
1,000

 
0

Acquisition costs
120

 
0

 
700

 
0

Restaurant closure charges
89

 
76

 
89

 
1,457

Litigation
0

 
(8,553
)
 
(2,032
)
 
(2,753
)
Severance
0

 
0

 
2,368

 
0

Impairment of liquor licenses
0

 
0

 
0

 
175

Other
338

 
0

 
2,250

 
28

 
$
3,864

 
$
(8,477
)
 
$
5,454

 
$
747


During the third quarter of fiscal 2016, we recorded impairment charges of $3.4 million related to two underperforming restaurants identified for closure by management and $1.0 million related to a cost method investment. See note 7 for fair value disclosures.
We were a plaintiff in a class action lawsuit against US Foods styled as In re U.S. Foodservice, Inc. Pricing Litigation. A settlement agreement was fully executed by all parties in September 2015, and we received approximately $2.0 million during the second quarter of fiscal 2016 in settlement of this litigation.
During the first nine months of fiscal 2016, we incurred expenses of $1.2 million to reserve for royalties, rents and other outstanding amounts related to a bankrupt franchisee. We also recorded impairment charges of $0.5 million primarily related to a capital lease asset that is subleased to a franchisee and an undeveloped parcel of land that we own for the excess of the carrying amounts over the fair values. See note 7 for fair value disclosures. We incurred $2.4 million in severance and other benefits related to organizational changes. Additionally, we recorded $0.7 million of transaction costs related to the acquisition of Pepper Dining and a $2.9 million gain on the sale of several properties.
We were a plaintiff in the antitrust litigation against Visa and MasterCard styled as Progressive Casualty Insurance Co., et al. v. Visa, Inc., et al. A settlement agreement was fully executed by all parties in January 2015, and we received approximately $8.6 million per the terms of this agreement in the third quarter of fiscal 2015. During the second quarter of fiscal 2015, the class action lawsuit styled as Hohnbaum, et al. v. Brinker Restaurant Corp., et al. was finalized resulting in an additional charge of approximately $5.8 million to adjust our previous estimate of the final settlement amount.
During the first nine months of fiscal 2015, we recorded restaurant impairment charges of $0.7 million related to underperforming restaurants that either continue to operate or are scheduled to close and $0.2 million for the excess of the carrying amount of a transferable liquor license over the fair value. We also recorded a $1.1 million charge primarily related to the sale of two company owned restaurants located in Mexico and restaurant closure charges of $1.5 million primarily related to lease termination charges.