SUMMARY OF REFRANCHISINGS AND FRANCHISEE DEVELOPMENT

Refranchisings and franchisee development — The following table summarizes the number of restaurants sold to franchisees, the number of restaurants developed by franchisees, and the related fees and gains recognized in each period (dollars in thousands):



	Sixteen Weeks Ended
	January 21, 2018			January 22, 2017
Restaurants sold to franchisees	22			—
New restaurants opened by franchisees	5			7

Initial franchise fees	$	995		$	290

Proceeds from the sale of company-operated restaurants:
Cash (1)	$	5,591		$	138
Short-term notes receivable (2)	9,084			—
	14,675			138

Net assets sold (primarily property and equipment)	(3,637		)	—
Goodwill related to the sale of company-operated restaurants	(153		)	(1		)
Other (3)	(1,945		)	—
Gains on the sale of company-operated restaurants	$	8,940		$	137

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(1)	Amounts in 2018 and 2017 include additional proceeds of $1.2 million and $0.1 million, respectively, related to restaurants sold in prior years.


(2)	These notes were collected during 2018.


(3)	Amount primarily relates to $1.5 million of remodel credits.

As of the end of the first 2018 quarter, we had signed non-binding letters of intent with franchisees to sell an additional 10 company-operated restaurants. Pre-tax gross proceeds related to these sales are estimated at $2.0 million to $3.0 million. Equipment of $0.8 million related to these sales has been classified as assets held for sale on our January 21, 2018 and October 1, 2017 condensed consolidated balance sheets.