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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 25, 2019
Jun. 26, 2019
Current assets    
Cash and cash equivalents $ 29.0 $ 13.4
Accounts receivable, net 48.3 55.0
Inventories 25.6 23.2
Restaurant supplies 51.8 47.1
Prepaid expenses 17.6 23.7
Income taxes receivable, net 1.4 14.6
Total current assets 173.7 177.0
Property and equipment, at cost    
Land 34.9 33.4
Buildings and leasehold improvements 1,539.5 1,454.6
Furniture and equipment 779.0 757.5
Construction-in-progress 22.5 19.2
Property plant and equipment, gross 2,375.9 2,264.7
Less accumulated depreciation and amortization (1,535.9) (1,509.6)
Net property and equipment 840.0 755.1
Other assets    
Operating lease assets 1,192.3 [1] 0.0
Goodwill 189.7 165.5
Deferred income taxes, net 45.5 112.0
Intangibles, net 24.3 22.3
Other 25.5 26.4
Total other assets 1,477.3 326.2
Total assets 2,491.0 [2] 1,258.3
Current liabilities    
Accounts payable 105.2 97.5
Gift card liability 97.5 100.9
Accrued payroll 69.9 82.1
Operating lease liabilities 119.2 [1] 0.0
Other accrued liabilities 124.6 141.1
Total current liabilities 516.4 421.6
Long-term debt and finance leases, less current installments 1,313.8 1,206.6
Long-term operating lease liabilities, less current portion 1,189.1 [1] 0.0
Deferred gain on sale leaseback transactions 0.0 255.3
Other liabilities 56.8 153.0
Commitments and contingencies (Note 14)
Shareholders’ deficit    
Common stock (250.0 million authorized shares; $0.10 par value; 176.2 million shares issued and 37.4 million shares outstanding at September 25, 2019, and 176.2 million shares issued and 37.5 million shares outstanding at June 26, 2019) 17.6 17.6
Additional paid-in capital 525.1 522.0
Accumulated other comprehensive loss (5.8) (5.6)
Retained earnings 2,967.4 2,771.2
Treasury stock, at cost (138.8 million shares at September 25, 2019, and 138.7 million shares at June 26, 2019) (4,089.4) (4,083.4)
Total shareholders’ deficit (585.1) (778.2)
Total liabilities and shareholders’ deficit $ 2,491.0 $ 1,258.3
[1]
Operating lease assets are recorded in Operating lease assets, and the related current and long-term lease liabilities are recorded within Operating lease liabilities and Long-term operating lease liabilities, less current portion, respectively.
[2]
Segment assets for fiscal 2020 are presented in accordance with the newly adopted ASC 842 that now include Operating lease assets, refer to Note 3 - Leases for further details.