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Purchase And Sale Of Assets
6 Months Ended
Aug. 15, 2011
Purchase And Sale Of Assets  
Purchase And Sale Of Assets

NOTE 5 — PURCHASE AND SALE OF ASSETS

Purchase of Assets

During the twenty-eight weeks ended August 15, 2011, we purchased three Hardee's restaurants from one of our franchisees for the aggregate purchase price consideration of $1,500, which was reduced by the settlement of certain pre-existing liabilities, resulting in a net purchase price consideration of $1,207. As a result of this transaction, we recorded property and equipment of $54, identifiable intangible assets of $85, capital leases assets of $55 and capital lease obligations of $55, resulting in $1,068 of additional goodwill in our Hardee's operating segment.

We did not purchase any restaurants from franchisees during the twenty-eight weeks ended August 9, 2010.

Sale of Assets

On July 2, 2010, pursuant to an Asset Purchase Agreement ("APA") with Meadowbrook Meat Company, Inc. ("MBM"), we sold to MBM our Carl's Jr. distribution center assets located in Ontario, California and Manteca, California ("Distribution Centers"). In connection with the APA, we received total consideration of $21,195 from MBM for the Distribution Center assets, which included inventory, fixed assets, real property in Manteca, California, and other related assets. We collected proceeds of $19,203 related to the sale of the Distribution Center assets during the twenty-four weeks ended July 12, 2010 and collected the remaining $1,992 of consideration during the third quarter of fiscal 2011. As a result of the transaction, we recorded a gain of $3,442, which is included in other operating expenses, net in our accompanying unaudited Condensed Consolidated Statements of Operations for the Predecessor eight and twenty-four weeks ended July 12, 2010.