XML 57 R38.htm IDEA: XBRL DOCUMENT v3.20.2
GOODWILL AND INTANGIBLES (Tables)
12 Months Ended
Jun. 24, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes In Carrying Amount Of Goodwill
There have been no impairments of Goodwill for the fiscal years ended June 24, 2020, June 26, 2019 and June 27, 2018. The changes in the carrying amount of Goodwill by segment are as follows:
 
June 24, 2020
 
June 26, 2019
 
Chili’s
 
Maggiano’s
 
Consolidated
 
Chili’s
 
Maggiano’s
 
Consolidated
Balance at beginning of year
$
127.1

 
$
38.4

 
$
165.5

 
$
125.4

 
$
38.4

 
$
163.8

Changes in goodwill:
 
 
 
 
 
 
 
 
 
 
 
Additions(1)
22.4

 

 
22.4

 
1.6

 

 
1.6

Foreign currency translation adjustment
(0.3
)
 

 
(0.3
)
 
0.1

 

 
0.1

Balance at end of year
$
149.2

 
$
38.4

 
$
187.6

 
$
127.1

 
$
38.4

 
$
165.5


(1) 
In the fiscal years ended June 24, 2020 and June 26, 2019, we acquired 116 and three domestic Chili’s restaurants, respectively, previously owned by franchise partners. Refer to Note 3 - Chili's Restaurant Acquisition for information about the fiscal 2020 acquisition.
Schedule of Intangible Assets
Intangible assets, net are as follows:
 
June 24, 2020
 
June 26, 2019
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Definite-lived intangible assets
 
 
 
 
 
 
 
 
 
 
 
Chili’s reacquired franchise rights(1)
$
19.8

 
$
(7.1
)
 
$
12.7

 
$
13.3

 
$
(5.5
)
 
$
7.8

Chili’s other
0.4

 
(0.4
)
 
0.0

 
5.6

 
(1.5
)
 
4.1

 
$
20.2

 
$
(7.5
)
 
$
12.7

 
$
18.9

 
$
(7.0
)
 
$
11.9

 
 
 
 
 
 
 
 
 
 
 
 
Indefinite-lived intangible assets
 
 
 
 
 
 
 
 
 
 
 
Chili’s liquor licenses
$
9.4

 
 
 
 
 
$
9.5

 
 
 
 
Maggiano’s liquor licenses
0.9

 
 
 
 
 
0.9

 
 
 
 
 
$
10.3

 
 
 
 
 
$
10.4

 

 
 

(1) 
We recorded an impairment charges of $0.2 million in fiscal 2020, and $0.5 million in fiscal 2019, in Other (gains) and charges in the Consolidated Statements of Comprehensive Income. Refer to Note 8 - Other Gains and Charges and Note 16 - Fair Value Measurements and for additional disclosures.
Additions, net of accumulated amortization of $6.2 million in fiscal 2020 were recorded related to the reacquired franchise rights associated with the 116 acquired Chili’s restaurants previously owned by a franchise partner.
Foreign currency translation impact is included in the gross carrying amount and accumulated amortization, and was a loss of $0.1 million and gain of $0.1 million for fiscal 2020 and fiscal 2019, respectively.
Definite-lived Intangibles Amortization Expense
Amortization expenses for all definite-lived intangible assets were recorded in Depreciation and amortization in the Consolidated Statements of Comprehensive Income as follows:
 
Fiscal Years Ended
 
June 24, 2020
 
June 26, 2019
 
June 27, 2018
Definite-lived intangible amortization expense
$
1.9

 
$
1.2

 
$
1.3