Papa John's Marketing Fund, Inc. (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Assets and Liabilities of PJMF

Assets and liabilities of PJMF, which are restricted in their use, included in the Condensed Consolidated Balance Sheets were as follows (in thousands):



	March 31,		December 30,
	2019		2018

Assets
Current assets:
Cash and cash equivalents	$	5,013	$	13,790
Accounts receivable, net		10,243		10,264
Income tax receivable		66		73
Prepaid expenses		69		441
Other current assets		14,124		1
Total current assets		29,515		24,569
Deferred income taxes, net		381		381
Total assets	$	29,896	$	24,950


Liabilities
Current liabilities:
Accounts payable	$	8,423	$	20
Accrued expenses and other current liabilities		11,537		23,455
Deferred revenue current		97		155
Current portion of long-term debt		9,982		9
Total current liabilities		30,039		23,639
Deferred revenue		4,744		5,995
Total liabilities	$	34,783	$	29,634

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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