SUMMARY OF REFRANCHISINGS, FRANCHISEE DEVELOPMENT AND ACQUISITIONS

Refranchisings and franchisee development — The following is a summary of the number of restaurants sold to franchisees, the number of restaurants developed by franchisees and the related gains and fees recognized (dollars in thousands):



	2013			2012			2011
Restaurants sold to franchisees	81			97			332
New restaurants opened by franchisees	45			50			58
Initial franchise fees	$	4,017		$	5,535		$	15,898
Proceeds from the sale of company-operated restaurants:
Cash (1)	$	30,619		$	47,115		$	119,275
Notes receivable	—			1,200			1,000
	30,619			48,315			120,275
Net assets sold (primarily property and equipment)	(15,680		)	(16,833		)	(52,943		)
Goodwill related to the sale of company-operated restaurants	(629		)	(1,334		)	(3,469		)
Other (2)	(9,670		)	(1,003		)	(2,738		)
Gains on the sale of company-operated restaurants	$	4,640		$	29,145		$	61,125

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(1)	Amounts in 2013 and 2012 include additional proceeds of $3.3 million and $2.3 million, respectively, recognized upon the extension of the underlying franchise and lease agreements related to restaurants sold in a prior year.


(2)	Amounts in all years presented primarily represent impairment and lease commitment charges related to restaurants closed in connection with the sale of the related markets, and in 2013, charges for operating restaurant leases with lease commitments in excess of our sublease rental income.

Franchise acquisitions — In each of the last three years, we have acquired Qdoba franchised restaurants in select markets where we believe there is continued opportunity for restaurant development. Additionally, in 2013 we exercised our right of first refusal and acquired one Jack in the Box franchise restaurant. We account for the acquisition of franchised restaurants using the acquisition method of accounting for business combinations. The purchase price allocations were based on fair value estimates determined using significant unobservable inputs (Level 3). The goodwill recorded primarily relates to the sales growth potential of the markets acquired and is expected to be deductible for income tax purposes. The following table provides detail of the combined acquisitions in each year (dollars in thousands):



	2013			2012			2011
Restaurants acquired from franchisees	14			46			32

Property and equipment	$	3,030		$	12,379		$	6,934
Reacquired franchise rights	148			604			386
Goodwill	9,169			36,084			24,300
Liabilities assumed	(283		)	(122		)	(117		)
Gains on the acquisition of franchise-operated restaurants (1)	—			—			(426		)
Total consideration	$	12,064		$	48,945		$	31,077

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(1)	In 2011, the assets acquired and liabilities assumed exceeded the consideration for two of the units acquired. The gains are included in selling, general and administrative expenses in the accompanying consolidated statements of earnings.