Operating (Gains), Losses and Other Charges, Net

3 Months Ended

Mar. 29, 2023

Other Income and Expenses [Abstract]

Operating (Gains), Losses and Other Charges, Net

Operating (Gains), Losses and Other Charges, NetOperating (gains), losses and other charges, net consisted of the following:

	Quarter Ended
	March 29, 2023		March 30, 2022
	(In thousands)
Gains on sales of assets and other, net	$	(1,522)	$	(146)
Restructuring charges and exit costs	64		146
Impairment charges	129		—
Operating (gains), losses and other charges, net	$	(1,329)	$	—

 

We recorded impairment charges of $0.1 million related to property during the quarter ended March 29, 2023, resulting from assets being classified as held for sale. As of March 29, 2023, we had recorded assets held for sale at the lesser of carrying value or fair value amount of $2.3 million (consisting of property of $1.4 million, goodwill of $0.6 million and other assets of $0.3 million) related to three parcels of real estate and three Keke's restaurants. As of December 28, 2022, we had recorded assets held for sale at their carrying amount of $1.4 million (consisting of property of $1.1 million and other assets of $0.3 million) related to four parcels of real estate.

Restructuring charges and exit costs consisted of the following:

	Quarter Ended
	March 29, 2023		March 30, 2022
	(In thousands)
Exit costs	$	—	$	12
Severance and other restructuring charges	64		134
Total restructuring charges and exit costs	$	64	$	146

Exit costs primarily consist of costs related to closed restaurants. Exit cost liabilities related to lease costs are included as a component of operating lease liabilities in our Consolidated Balance Sheets.

As of March 29, 2023 and December 28, 2022, we had accrued severance and other restructuring charges of $0.4 million and $0.7 million, respectively. The balance as of March 29, 2023 is expected to be paid during the next 12 months.