Papa John's Marketing Fund, Inc.

9 Months Ended

Sep. 29, 2019

Papa John's Marketing Fund, Inc.

Papa John's Marketing Fund, Inc.

5. Papa John’s Marketing Fund, Inc.

PJMF collects a percentage of revenues from Company-owned and franchised restaurants in the United States, for the purpose of designing and administering advertising and promotional programs for all participating domestic restaurants. Contributions and expenditures are reported on a gross basis in the Condensed Consolidated Statements of Operations within Other revenues and Other expenses.

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

	September 29,		December 30,
	2019		2018
Assets
Current assets:
Cash and cash equivalents	$	3,247	$	13,790
Accounts receivable, net		9,991		10,264
Income tax receivable		124		73
Prepaid expenses		1,981		441
Other current assets		17,180		1
Total current assets		32,523		24,569
Deferred income taxes, net		381		381
Total assets	$	32,904	$	24,950
Liabilities
Current liabilities:
Accounts payable	$	15,286	$	20
Accrued expenses and other current liabilities		7,190		23,455
Deferred revenue current		111		155
Debt		9,051		9
Total current liabilities		31,638		23,639
Deferred revenue		3,992		5,995
Total liabilities	$	35,630	$	29,634