v3.26.1
Supplemental Balance Sheet Information
 6 Months Ended
Jun. 28, 2026
Supplemental Balance Sheet Information [Abstract]  
Supplemental Balance Sheet Information Supplemental Balance Sheet Information
Other current assets, net, consisted of the following as of the periods indicated:
(dollars in thousands)JUNE 28, 2026DECEMBER 28, 2025
Prepaid expenses$21,366 $24,018 
Accounts receivable - gift cards, net13,288 71,232 
Accounts receivable - vendors, net13,532 19,495 
Accounts receivable - franchisees, net3,326 3,603 
Accounts receivable - other, net11,887 7,886 
Deferred gift card sales commissions12,919 17,155 
Other current assets, net6,353 5,302 
$82,671 $148,691 
Goodwill and Intangible Assets - The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets as of the first day of its second fiscal quarter. The 2026 annual assessment was qualitative. During the thirteen weeks ended June 29, 2025, the Company performed a quantitative annual impairment analysis due to a decline in the Company’s stock price and market capitalization. In connection with the 2026 and 2025 annual assessments, the Company did not record any impairment charges. During the thirteen weeks ended December 28, 2025, the Company also performed an interim quantitative impairment analysis as a result of: (i) a sustained decline in the Company’s stock price and market capitalization and (ii) a decline in margins specific to the Bonefish Grill reporting unit. In connection with this analysis, the Company determined that the Bonefish Grill reporting unit was impaired and $28.2 million of goodwill impairment was recorded to fully impair the goodwill of the reporting unit.
Accrued and other current liabilities consisted of the following as of the periods indicated:
(dollars in thousands)JUNE 28, 2026DECEMBER 28, 2025
Accrued payroll and other compensation$71,637 $79,436 
Accrued insurance27,444 22,733 
Other current liabilities84,407 84,087 
$183,488 $186,256 
Long-term debt, net, consisted of the following as of the periods indicated:
JUNE 28, 2026DECEMBER 28, 2025
(dollars in thousands)OUTSTANDING BALANCEINTEREST RATEOUTSTANDING BALANCEINTEREST RATE
Senior secured credit facility - revolving credit facility (1)$405,000 5.55 %$490,000 6.09 %
2029 Notes300,000 5.13 %300,000 5.13 %
Long-term debt705,000 790,000 
Less: unamortized debt discount and issuance costs(2,212)(2,575)
Long-term debt, net$702,788 $787,425 
________________
(1)Includes a maximum capacity of $1.2 billion and matures on September 19, 2029. Interest rate represents the weighted average interest rate as of the respective periods.
Debt Covenants - As of June 28, 2026 and December 28, 2025, the Company was in compliance with its debt covenants.