v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 27, 2026
Dec. 28, 2025
Current assets:    
Cash and cash equivalents $ 295 $ 215
Restricted cash 30 31
Accounts receivable, net 33 41
Prepaid expenses and other current assets 18 18
Total current assets 376 305
Property and equipment, net 9 9
Trade name 5,710 5,710
Franchise agreements and other intangibles, net 1,657 1,719
Goodwill 407 395
Deferred tax assets 278 0
Other assets 34 43
Total assets 8,471 8,181
Current liabilities:    
Accounts payable 23 22
Accrued expenses and other current liabilities 111 107
Current portion of long-term debt 0 22
Total current liabilities 134 151
Long-term debt, net of current portion 1,798 2,062
TRA liability 1,369 0
Other non-current liabilities 300 65
Total liabilities 3,601 2,278
Commitments and contingencies (Note 9)
Equity    
Preferred stock, par value $0.0001, 1,000 shares authorized; no shares issued and outstanding as of September 27, 2026 and December 28, 2025 0  
Additional paid-in capital 3,309  
Retained deficit (11)  
Total stockholders’ equity attributable to Jersey Mike's Subs Inc. 3,298  
Members’ equity (pre-Reorganization)   5,903
Noncontrolling interest 1,572  
Noncontrolling interest   0
Total equity 4,870  
Total equity   5,903
Total liabilities and equity 8,471 $ 8,181
Common Class A    
Equity    
Common stock, value 0  
Common Class B    
Equity    
Common stock, value $ 0