Papa John's Marketing Fund, Inc.

3 Months Ended

Mar. 27, 2022

Papa John's Marketing Fund, Inc.

Papa John's Marketing Fund, Inc.

4. 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):

	March 27,		December 26,
	2022		2021
Assets
Current assets:
Cash and cash equivalents	$	24,136	$	24,481
Accounts receivable, net		13,078		14,150
Income tax receivable		44		300
Prepaid expenses and other current assets		2,148		1,718
Total current assets		39,406		40,649
Deferred income taxes		604		614
Total assets	$	40,010	$	41,263
Liabilities
Current liabilities:
Accounts payable	$	2,868	$	140
Income and other taxes payable		2		2
Accrued expenses and other current liabilities		35,131		40,154
Current deferred revenue		4,320		4,317
Total current liabilities		42,321		44,613
Deferred revenue		1,399		2,478
Total liabilities	$	43,720	$	47,091