Papa John's Marketing Fund, Inc.

12 Months Ended

Dec. 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 Consolidated Statements of Operations within Other revenues and Other expenses.

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

	December 29,		December 30,
	2019		2018
Assets
Current assets:
Cash and cash equivalents	$	4,569	$	13,790
Accounts receivable, net		11,196		10,264
Income tax receivable		103		73
Prepaid expenses		1,316		441
Other current assets		-		1
Total current assets		17,184		24,569
Deferred income taxes, net		410		381
Total assets	$	17,594	$	24,950
Liabilities
Current liabilities:
Accounts payable	$	764	$	20
Accrued expenses and other current liabilities		14,287		23,455
Deferred revenue current		3,252		3,579
Debt		-		9
Total current liabilities		18,303		27,063
Deferred revenue		2,094		2,571
Total liabilities	$	20,397	$	29,634