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REVENUE RECOGNITION
 12 Months Ended
Jun. 24, 2020
Revenue Recognition [Abstract]  
REVENUE RECOGNITION
Deferred Development and Franchise Fees
Our deferred development and franchise fees consist of the unrecognized fees received from franchisees. Recognition of these fees in subsequent periods is based on satisfaction of the contractual performance obligations of the active contracts with franchisees. The weighted average remaining term of the current franchise agreements, including certain renewal periods expected to be exercised, was approximately 17 years as of June 24, 2020. We also expect to earn subsequent period royalties and advertising fees related to our franchise contracts; however, due to the variability and uncertainty of these future revenues based upon a sales-based measure, these future revenues are not yet estimable due to the unsatisfied performance obligations.
 
Deferred Franchise and Development Fees
 
June 24, 2020
 
June 26, 2019
Beginning balance
$
16.2

 
$
—

Cumulative effect adjustment from adoption of ASC 606
—

 
18.1

Additions
0.8

 
0.9

Amount recognized for Chili's restaurant acquisition(1)
(2.6
)
 
—

Amount recognized to Franchise and other revenues
(1.7
)
 
(2.8
)
Ending balance
$
12.7

 
$
16.2


(1) 
Deferred development and franchise fees remaining balances associated with the 116 Chili’s restaurants acquired from a franchisee at the September 5, 2019 acquisition date were recognized in Other (gains) and charges in the Consolidated Statements of Comprehensive Income.
Fiscal Year
Franchise and Development Fees Revenue Recognition
2021
$
1.1

2022
1.0

2023
1.0

2024
1.0

2025
1.0

Thereafter
7.6

 
$
12.7


Deferred Gift Card Revenues
Total deferred revenues related to our gift cards includes the full value of unredeemed gift cards less the amortized portion of the breakage rates and the unamortized portion of third party fees.
 
Gift Card Liability
 
June 24, 2020
 
June 26, 2019
Beginning balance
$
100.9

 
$
119.1

Gift card sales
164.4

 
180.3

Gift card redemptions recognized to Company sales
(139.2
)
 
(169.4
)
Gift card breakage recognized to Franchise and other revenues(1)
(15.8
)
 
(26.0
)
Other
(0.4
)
 
(3.1
)
Ending balance
$
109.9

 
$
100.9

(1) 
Gift card breakage in fiscal 2019 included the recognition of $8.2 million from the cumulative effect of adopting ASC 606, Revenue from Contracts with Customers due to the change in timing of recognition of breakage, with a corresponding $2.0 million decrease in Deferred income taxes, net, and a $6.2 million decrease in Shareholders’ deficit.