Asset Acquisitions and Dispositions |
6 Months Ended |
|---|---|
Jun. 14, 2026 | |
| Business Combination [Abstract] | |
| Asset Acquisitions and Dispositions | 10. Asset Acquisitions and Dispositions
During the second quarter of 2026, the Company refranchised 77 U.S. Company-owned stores in Virginia and Michigan for proceeds of $19.8 million, of which $7.4 million was received in cash during the second quarter of 2026. The remaining $12.4 million represented non-cash investing activities and was included in prepaid expenses and other assets in the Company’s condensed consolidated balance sheet, and was collected subsequent to the end of the second quarter of 2026. The pre-tax refranchising gain associated with the sale of the related assets and liabilities, including a $2.8 million reduction in goodwill, was $4.1 million and recorded in refranchising gain in the Company’s condensed consolidated statements of income.
During the first quarter of 2026, the Company sold its fully depreciated corporate aircraft for net proceeds and a pre-tax realized gain of $7.8 million.
During the second quarter of 2025, the Company refranchised 36 U.S. Company-owned stores in Maryland for proceeds of $8.5 million. The pre-tax refranchising gain associated with the sale of the related assets and liabilities, including a $1.4 million reduction in goodwill, was $3.9 million and was recorded in refranchising gain in the Company’s condensed consolidated statements of income. During the first quarter of 2025, the Company purchased two U.S. franchised stores from one of the Company’s former U.S. franchisees for $0.9 million, which was paid in the second quarter of 2025. The Company recorded $0.3 million of intangibles, $0.1 million of equipment and leasehold improvements and $0.5 million of goodwill. |