Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Oct. 01, 2017 | Nov. 24, 2017 | Apr. 13, 2017 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | JACK IN THE BOX INC /NEW/ | ||
Entity Central Index Key | 807,882 | ||
Document Type | 10-K | ||
Document Period End Date | Oct. 1, 2017 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --10-01 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 29,433,478 | ||
Entity Public Float | $ 2.9 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Current assets: | ||
Cash | $ 7,642 | $ 17,030 |
Accounts and other receivables, net | 68,694 | 73,360 |
Inventories | 6,647 | 8,229 |
Prepaid expenses | 29,148 | 40,398 |
Assets held for sale | 24,107 | 14,259 |
Other current assets | 3,039 | 2,129 |
Total current assets | 139,277 | 155,405 |
Property and equipment, at cost: | ||
Land | 112,509 | 117,166 |
Buildings | 1,112,763 | 1,116,244 |
Restaurant and other equipment | 265,791 | 331,644 |
Construction in progress | 31,558 | 40,522 |
Property and equipment, at cost | 1,522,621 | 1,605,576 |
Less accumulated depreciation and amortization | (889,630) | (886,526) |
Property and equipment, net | 632,991 | 719,050 |
Intangible assets, net | 14,072 | 14,042 |
Goodwill | 169,049 | 166,046 |
Other assets, net | 273,032 | 290,469 |
Total assets | 1,228,421 | 1,345,012 |
Current liabilities: | ||
Current maturities of long-term debt | 64,383 | 55,935 |
Accounts payable | 37,302 | 40,736 |
Accrued liabilities | 160,305 | 181,250 |
Total current liabilities | 261,990 | 277,921 |
Long-term debt, net of current maturities | 1,080,932 | 935,372 |
Other long-term liabilities | 273,531 | 348,925 |
Stockholders' equity: | ||
Preferred stock $0.01 par value, 15,000,000 shares authorized, none issued | 0 | 0 |
Common stock $0.01 par value, 175,000,000 shares authorized, 81,843,483 and 81,598,524 issued, respectively | 818 | 816 |
Capital in excess of par value | 453,530 | 432,564 |
Retained earnings | 1,485,820 | 1,399,721 |
Accumulated other comprehensive loss | (137,761) | (187,021) |
Treasury stock, at cost, 52,411,407 and 49,190,992 shares, respectively | (2,190,439) | (1,863,286) |
Total stockholders’ deficit | (388,032) | (217,206) |
Total liabilities and stockholders' equity | $ 1,228,421 | $ 1,345,012 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Oct. 01, 2017 | Oct. 02, 2016 |
Stockholders' equity: | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 175,000,000 | 175,000,000 |
Common stock, shares issued | 81,843,483 | 81,598,524 |
Treasury stock at cost, shares | 52,411,407 | 49,190,992 |
Consolidated Statements Of Earn
Consolidated Statements Of Earnings - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | ||
Revenues: | ||||
Company restaurant sales | $ 1,152,479 | $ 1,204,535 | $ 1,156,863 | |
Franchise rental revenues | 231,687 | 232,907 | 226,702 | |
Franchise royalties and other | 169,748 | 161,889 | 156,752 | |
Total revenue | 1,553,914 | 1,599,331 | 1,540,317 | |
Company restaurant costs: | ||||
Food and packaging | 346,944 | 363,002 | 361,988 | |
Payroll and employee benefits | 333,611 | 334,470 | 313,302 | |
Occupancy and other | 268,546 | 264,158 | 246,023 | |
Total company restaurant costs | 949,101 | 961,630 | 921,313 | |
Franchise occupancy expenses | 171,591 | 170,152 | 170,102 | |
Franchise support and other costs | 14,222 | 15,991 | 15,688 | |
Selling, general and administrative expenses | 165,752 | 203,816 | 221,145 | |
Impairment and other charges, net | 25,141 | 19,057 | 11,757 | |
(Gains) losses on the sale of company-operated restaurants | (38,034) | (1,230) | 3,139 | |
Total operating costs and expenses | 1,287,773 | 1,369,416 | 1,343,144 | |
Earnings from operations | 266,141 | 229,915 | 197,173 | |
Interest expense, net | (46,518) | (31,081) | (18,803) | |
Earnings from continuing operations and before income taxes | 219,623 | 198,834 | 178,370 | |
Income taxes | 81,315 | 72,564 | 65,769 | |
Earnings from continuing operations | 138,308 | 126,270 | 112,601 | |
Losses from discontinued operations, net of income tax benefit | (2,976) | (2,197) | (3,789) | |
Net earnings | $ 135,332 | $ 124,073 | $ 108,812 | |
Net earnings per share — basic: | ||||
Earnings from continuing operations | $ 4.52 | $ 3.74 | $ 3 | |
Losses from discontinued operations | (0.10) | (0.07) | (0.10) | |
Net earnings per share (1) | [1] | 4.42 | 3.68 | 2.89 |
Net earnings per share — diluted: | ||||
Earnings from continuing operations | 4.47 | 3.70 | 2.95 | |
Losses from discontinued operations | (0.10) | (0.06) | (0.10) | |
Net earnings per share (usd per share) | [1] | $ 4.38 | $ 3.63 | $ 2.85 |
Weighted-average shares outstanding: | ||||
Basic (in shares) | 30,630 | 33,735 | 37,587 | |
Diluted (in shares) | 30,914 | 34,146 | 38,215 | |
Cash dividends declared per common share | $ 1.60 | $ 1.20 | $ 1 | |
[1] | ________________________(1) Earnings per share may not add due to rounding. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Net earnings | $ 135,332 | $ 124,073 | $ 108,812 |
Net change in fair value of derivatives | 19,768 | (25,439) | (26,596) |
Net loss reclassified to earnings | 5,070 | 4,048 | 2,011 |
Cash flow hedges, Net change in fair value of derivatives | 24,838 | (21,391) | (24,585) |
Tax effect | (9,592) | 8,281 | 9,517 |
Cash flow hedges | 15,246 | (13,110) | (15,068) |
Actuarial gains (losses) arising during the period | (49,025) | 71,971 | 54,407 |
Actuarial losses and prior service cost reclassified to earnings | 6,429 | 4,546 | 9,863 |
Total recognized in OCI | 55,454 | (67,425) | (44,544) |
Tax effect | (21,418) | 26,087 | 17,243 |
Unrecognized periodic benefit costs | 34,036 | (41,338) | (27,301) |
Foreign currency translation adjustments | (35) | (70) | (45) |
Tax effect | 13 | 27 | 16 |
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | (22) | (43) | (29) |
Other comprehensive income (loss), net of tax | 49,260 | (54,491) | (42,398) |
Comprehensive income | $ 184,592 | $ 69,582 | $ 66,414 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017USD ($) | Oct. 02, 2016USD ($) | Sep. 27, 2015USD ($) | |
Cash flows from operating activities: | |||
Net earnings | $ 135,332 | $ 124,073 | $ 108,812 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation and amortization | 88,939 | 92,844 | 89,468 |
Deferred finance cost amortization | 3,487 | 2,736 | 2,309 |
Excess tax benefits from share-based compensation arrangements | (4,232) | (7,461) | (18,602) |
Deferred income taxes | (12,208) | 34,973 | (3,191) |
Share-based compensation expense | 11,416 | 11,455 | 12,420 |
Pension and postretirement expense | 4,215 | 13,484 | 18,749 |
(Gains) losses on cash surrender value of company-owned life insurance | (2,424) | (5,365) | 1,240 |
(Gains) losses on the sale of company-operated restaurants | (38,034) | (1,230) | 3,139 |
Losses on the disposition of property and equipment | 3,635 | 2,654 | 1,847 |
Impairment charges and other | 7,940 | 4,759 | 6,815 |
Changes in assets and liabilities, excluding acquisitions and dispositions: | |||
Accounts and other receivables | (5,774) | (28,181) | (82) |
Inventories | 1,771 | (713) | 105 |
Prepaid expenses and other current assets | 14,831 | (15,367) | 35,255 |
Accounts payable | 480 | 2,225 | 2,281 |
Accrued liabilities | (20,704) | 8,662 | 798 |
Pension and postretirement contributions | (5,363) | (101,052) | (25,374) |
Other | (11,470) | (4,314) | (9,114) |
Cash flows provided by operating activities | 171,837 | 134,182 | 226,875 |
Cash flows from investing activities: | |||
Purchases of property and equipment | (67,453) | (96,615) | (86,226) |
Purchases of assets intended for sale and leaseback | (5,769) | (9,785) | (10,396) |
Proceeds from the sale and leaseback of assets | 6,057 | 17,123 | 0 |
Proceeds from the sale of company-operated restaurants | 99,591 | 1,439 | 3,951 |
Collections on notes receivable | 1,715 | 3,555 | 5,917 |
Payments to Acquire Businesses, Net of Cash Acquired | (2,053) | (19,816) | 0 |
Other | 1,251 | (299) | 2,281 |
Cash flows provided by (used in) investing activities | 33,339 | (104,398) | (84,473) |
Cash flows from financing activities: | |||
Borrowings on revolving credit facilities | 747,900 | 705,000 | 857,000 |
Repayments of borrowings on revolving credit facilities | (533,300) | (817,578) | (768,000) |
Proceeds from issuance of debt | 0 | 417,578 | 300,000 |
Principal repayments on debt | (57,404) | (26,154) | (198,397) |
Debt issuance costs | 0 | (2,385) | (2,030) |
Dividends paid on common stock | (48,925) | (40,295) | (37,390) |
Proceeds from issuance of common stock | 5,165 | 10,564 | 15,170 |
Repurchases of common stock | (334,361) | (284,645) | (320,163) |
Excess tax benefits from share-based compensation arrangements | 4,232 | 7,461 | 18,602 |
Change in book overdraft | 2,151 | 0 | 0 |
Cash flows used in financing activities | (214,542) | (30,454) | (135,208) |
Effect of exchange rate changes on cash | (22) | (43) | (29) |
Net (decrease) increase in cash | (9,388) | (713) | 7,165 |
Cash | $ 7,642 | $ 17,030 | $ 17,743 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Capital In Excess Of Par Value [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss, Net [Member] | Treasury Stock [Member] |
Comprehensive income: | ||||||
Stockholders' Equity Attributable to Parent | $ 257,911 | $ 801 | $ 356,727 | $ 1,244,897 | $ (90,132) | $ (1,254,382) |
Shares, Outstanding | 80,127,387 | |||||
Balance, shares at Sep. 28, 2014 | 80,127,387 | |||||
Balance at Sep. 28, 2014 | 257,911 | $ 801 | 356,727 | 1,244,897 | (90,132) | (1,254,382) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued under stock plans including tax benefit | 968,769 | |||||
Shares issued under stock plans, including tax benefit | 33,772 | $ 10 | 33,762 | |||
Share-based compensation | 12,420 | 12,420 | ||||
Dividends declared | (37,513) | 77 | (37,590) | |||
Purchases of treasury stock | (317,051) | (317,051) | ||||
Comprehensive income: | ||||||
Net earnings | 108,812 | 108,812 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (29) | (29) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (15,068) | (15,068) | ||||
Effect of actuarial losses and prior service cost, net | (27,301) | (27,301) | ||||
Stockholders' Equity Attributable to Parent | 257,911 | $ 801 | 356,727 | 1,244,897 | (90,132) | (1,254,382) |
Shares, Outstanding | 80,127,387 | |||||
Stockholders' Equity Attributable to Parent | 15,953 | $ 811 | 402,986 | 1,316,119 | (132,530) | (1,571,433) |
Shares, Outstanding | 81,096,156 | |||||
Balance, shares at Sep. 27, 2015 | 81,096,156 | |||||
Balance at Sep. 27, 2015 | 15,953 | $ 811 | 402,986 | 1,316,119 | (132,530) | (1,571,433) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued under stock plans including tax benefit | 502,368 | |||||
Shares issued under stock plans, including tax benefit | 18,025 | $ 5 | 18,020 | |||
Share-based compensation | 11,455 | 11,455 | ||||
Dividends declared | (40,368) | 103 | (40,471) | |||
Purchases of treasury stock | (291,853) | (291,853) | ||||
Comprehensive income: | ||||||
Net earnings | 124,073 | 124,073 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (43) | (43) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | (13,110) | (13,110) | ||||
Effect of actuarial losses and prior service cost, net | (41,338) | (41,338) | ||||
Stockholders' Equity Attributable to Parent | 15,953 | $ 811 | 402,986 | 1,316,119 | (132,530) | (1,571,433) |
Shares, Outstanding | 81,096,156 | |||||
Stockholders' Equity Attributable to Parent | (217,206) | $ 816 | 432,564 | 1,399,721 | (187,021) | (1,863,286) |
Shares, Outstanding | 81,598,524 | |||||
Balance, shares at Oct. 02, 2016 | 81,598,524 | |||||
Balance at Oct. 02, 2016 | (217,206) | $ 816 | 432,564 | 1,399,721 | (187,021) | (1,863,286) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Shares issued under stock plans including tax benefit | 244,959 | |||||
Shares issued under stock plans, including tax benefit | 9,397 | $ 2 | 9,395 | |||
Share-based compensation | 11,416 | 11,416 | ||||
Dividends declared | (49,078) | 155 | (49,233) | |||
Purchases of treasury stock | (327,153) | (327,153) | ||||
Comprehensive income: | ||||||
Net earnings | 135,332 | 135,332 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (22) | (22) | ||||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 15,246 | 15,246 | ||||
Effect of actuarial losses and prior service cost, net | 34,036 | 34,036 | ||||
Stockholders' Equity Attributable to Parent | (217,206) | $ 816 | 432,564 | 1,399,721 | (187,021) | (1,863,286) |
Shares, Outstanding | 81,598,524 | |||||
Stockholders' Equity Attributable to Parent | $ (388,032) | $ 818 | $ 453,530 | $ 1,485,820 | $ (137,761) | $ (2,190,439) |
Shares, Outstanding | 81,843,483 |
Nature Of Operations And Summar
Nature Of Operations And Summary Of Significant Accounting Policies | 12 Months Ended |
Oct. 01, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature Of Operations And Summary Of Significant Accounting Policies | NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of operations — Founded in 1951, Jack in the Box Inc. (the “Company”) operates and franchises Jack in the Box ® quick-service restaurants and Qdoba Mexican Eats ® (“Qdoba”) fast-casual restaurants. The following table summarizes the number of restaurants as of the end of each fiscal year: 2017 2016 2015 Jack in the Box: Company-operated 276 417 413 Franchise 1,975 1,838 1,836 Total system 2,251 2,255 2,249 Qdoba: Company-operated 385 367 322 Franchise 341 332 339 Total system 726 699 661 References to the Company throughout these notes to the consolidated financial statements are made using the first person notations of “we,” “us” and “our.” Basis of presentation — The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). During fiscal 2012, we entered into an agreement to outsource our Jack in the Box distribution business. In fiscal 2013, we closed 62 Qdoba restaurants (the “2013 Qdoba Closures”) as part of a comprehensive Qdoba market performance review. The results of operations for our distribution business and for the 2013 Qdoba Closures are reported as discontinued operations for all periods presented. Refer to Note 2, Discontinued Operations , for additional information. Unless otherwise noted, amounts and disclosures throughout these notes to the consolidated financial statements relate to our continuing operations. Reclassifications and adjustments — Certain prior year amounts in the consolidated balance sheets have been reclassified due to the adoption of a new accounting pronouncement. See discussion below. Fiscal year — Our fiscal year is 52 or 53 weeks ending the Sunday closest to September 30 . Comparisons throughout these notes to the consolidated financial statements refer to the 52 -week period ended October 1, 2017 for the fiscal year 2017 , 53-week period ended October 2, 2016 and 52-week period ended September 27, 2015 for fiscal years 2016 and 2015 , respectively. Principles of consolidation — The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the accounts of any variable interest entities (“VIEs”) where we are deemed the primary beneficiary. All significant intercompany accounts and transactions are eliminated. The Financial Accounting Standards Board (“FASB”) authoritative guidance on consolidation requires the primary beneficiary of a VIE to consolidate that entity. The primary beneficiary of a VIE is an enterprise that has a controlling financial interest in the VIE. Controlling financial interest exists when an enterprise has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The primary entities in which we possess a variable interest are franchise entities, which operate our franchise restaurants. We do not possess any ownership interests in franchise entities. We have reviewed these franchise entities and determined that we are not the primary beneficiary of the entities and therefore, these entities have not been consolidated. We hold and consolidate a variable interest in a subsidiary formed for the purpose of operating a franchisee lending program. The financial results and position of our VIE are immaterial to our consolidated financial statements. Use of estimates — In preparing the consolidated financial statements in conformity with U.S. GAAP, management is required to make certain assumptions and estimates that affect reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingencies. In making these assumptions and estimates, management may from time to time seek advice and consider information provided by actuaries and other experts in a particular area. Actual amounts could differ materially from these estimates. Accounts and other receivables, net is primarily comprised of receivables from franchisees, tenants and credit card processors. Franchisee receivables primarily include rents, royalties, and marketing fees associated with lease and franchise agreements. Tenant receivables relate to subleased properties where we are on the master lease agreement. We accrue interest on notes receivable based on the contractual terms. The allowance for doubtful accounts is based on historical experience and a review of existing receivables. Changes in accounts and other receivables are classified as an operating activity in the consolidated statements of cash flows. Inventories consist principally of food, packaging and supplies, and are valued at the lower of cost or market on a first-in, first-out basis. Changes in inventories are classified as an operating activity in the consolidated statements of cash flows. Assets held for sale typically represent the costs for new sites and existing sites that we plan to sell and lease back within the next year. Gains or losses realized on sale-leaseback transactions are deferred and amortized over the lease terms. Assets held for sale also periodically includes the net book value of property and/or equipment we plan to sell within the next year. If the determination is made that we no longer expect to sell an asset within the next year, the asset is reclassified out of assets held for sale. Assets held for sale consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Assets held for sale and leaseback $ 15,792 $ 14,259 Other property and equipment held for sale 8,315 — Assets held for sale $ 24,107 $ 14,259 Property and equipment, net — Expenditures for new facilities and equipment, and those that substantially increase the useful lives of the property, are capitalized. Facilities leased under capital leases are stated at the present value of minimum lease payments at the beginning of the lease term, not to exceed fair value. Maintenance and repairs are expensed as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and gains or losses on the dispositions are reflected in results of operations. Buildings, equipment and leasehold improvements are generally depreciated using the straight-line method based on the estimated useful lives of the assets, over the initial lease term for certain assets acquired in conjunction with the lease commencement for leased properties, or the remaining lease term for certain assets acquired after the commencement of the lease for leased properties. In certain situations, one or more option periods may be used in determining the depreciable life of assets related to leased properties if we deem that an economic penalty would be incurred otherwise. In either circumstance, our policy requires lease term consistency when calculating the depreciation period, in classifying the lease and in computing straight-line rent expense. Building, leasehold improvement assets and equipment are assigned lives that range from 1 to 35 years. Depreciation expense related to property and equipment was $88.2 million , $92.1 million and $88.8 million in fiscal year 2017 , 2016 , and 2015 , respectively. Impairment of long-lived assets — We evaluate our long-lived assets, such as property and equipment, for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying value may not be recoverable. This review generally includes a restaurant-level analysis, except when we are actively selling a group of restaurants in which case we perform our impairment evaluations at the group level. Impairment evaluations for individual restaurants take into consideration a restaurant’s operating cash flows, the period of time since a restaurant has been opened or remodeled, refranchising expectations, if any, and the maturity of the related market, which are all significant unobservable inputs (“Level 3 Inputs”). Impairment evaluations for a group of restaurants take into consideration the group’s expected future cash flows and sales proceeds from bids received, if any, or fair market value based on, among other considerations, the specific sales and cash flows of those restaurants. If the assets of a restaurant or group of restaurants subject to our impairment evaluation are not recoverable based upon the forecasted, undiscounted cash flows, we recognize an impairment loss by the amount which the carrying value of the assets exceeds fair value. Refer to Note 9, Impairment and Other Charges, Net , for additional information. Long-lived assets that meet the held for sale criteria, which excludes assets intended to be sold and leased back, are held for sale and reported at the lower of their carrying value or fair value, less estimated costs to sell. Goodwill and intangible assets — Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired, if any. We generally record goodwill in connection with the acquisition of restaurants from franchisees. Likewise, upon the sale of restaurants to franchisees, goodwill is decremented. The amount of goodwill written-off is determined as the fair value of the business disposed of as a percentage of the fair value of the reporting unit retained. If the business disposed of was never fully integrated into the reporting unit after its acquisition, and thus the benefits of the acquired goodwill were never realized, the current carrying amount of the acquired goodwill is written off. Goodwill is evaluated for impairment annually, or more frequently if indicators of impairment are present. We first assess qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative factors indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform a single-step impairment test of goodwill. To perform our impairment analysis, we estimate the fair value of the reporting unit using Level 3 Inputs and compare it to the carrying value of the reporting unit. If the carrying value exceeds the fair value of the reporting unit, an impairment loss is recognized equal to the excess. Intangible assets, net is comprised primarily of our Qdoba trademark, acquired franchise contract costs, lease acquisition costs and reacquired franchise rights. Our Qdoba trademark and acquired franchise contract costs were recorded in connection with our acquisition of Qdoba Restaurant Corporation in fiscal 2003 . Our Qdoba trademark asset has an indefinite life and is not amortized. Acquired franchise contract costs represent the acquired value of franchise contracts, which are amortized over the term of the franchise agreements plus options based on the projected royalty revenue stream. Lease acquisition costs primarily represent the fair values of acquired lease contracts having contractual rents lower than fair market rents and are amortized on a straight-line basis over the remaining initial lease term. Reacquired franchise rights are recorded in connection with our acquisition of franchised restaurants and are amortized over the remaining contractual period of the franchise contract in which the right was granted. Our non-amortizing intangible asset is evaluated for impairment annually, or more frequently if indicators of impairment are present. We first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the intangible asset is less than its carrying amount. If the qualitative factors indicate that it is more likely than not that the fair value of the intangible asset is less than its carrying amount, we compare the fair value of the non-amortizing intangible asset, established using Level 3 Inputs, with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized equal to the excess. Refer to Note 4, Goodwill and Intangible Assets, Net , for additional information. Company-owned life insurance — We have purchased company-owned life insurance (“COLI”) policies to support our non-qualified benefit plans. The cash surrender values of these policies were $110.1 million and $106.0 million as of October 1, 2017 and October 2, 2016 , respectively, and are included in other assets, net in the accompanying consolidated balance sheets. Changes in cash surrender values are included in selling, general and administrative expenses in the accompanying consolidated statements of earnings. These policies reside in an umbrella trust for use only to pay plan benefits to participants or to pay creditors if the Company becomes insolvent. Leases — We review all leases for capital or operating classification at their inception under the FASB authoritative guidance for leases. Our operations are primarily conducted under operating leases. Within the provisions of certain leases, there are rent holidays and escalations in payments over the base lease term, as well as renewal periods. The effects of the holidays and escalations have been reflected in rent expense on a straight-line basis over the expected lease term. Differences between amounts paid and amounts expensed are recorded as deferred rent. Certain leases also provide for tenant incentives used to fund leasehold improvements. Tenant incentives are recorded as deferred tenant improvement allowances in our consolidated balance sheets based on their short-term or long-term nature, and are amortized as reductions of rent expense over the term of the corresponding lease. The lease term commences on the date when we have the right to control the use of the leased property. Certain leases also include contingent rent provisions based on sales levels, which are accrued at the point in time we determine that it is probable such sales levels will be achieved. Refer to Note 8, Leases , for additional information. Revenue recognition — Revenue from company restaurant sales is recognized when the food and beverage products are sold and are presented net of sales taxes. Our franchise arrangements generally provide for franchise fees and continuing fees based upon a percentage of sales (“royalties”). In order to renew a franchise agreement upon expiration, a franchisee must obtain the Company’s approval and pay then current fees. Franchise development and license fees are recorded as deferred revenue until we have substantially performed all of our contractual obligations and the restaurant has opened for business. Franchise royalties are recorded in revenues on an accrual basis. Among other things, a franchisee may be provided the use of land and building, generally for a period of 20 years, and is required to pay negotiated rent, property taxes, insurance and maintenance. Franchise rents based on fixed rental payments are recognized as revenue over the term of the lease. Certain franchise rents, which are contingent upon sales levels, are recognized in the period in which the contingency is met. Gift cards — We sell gift cards to our customers in our restaurants and through selected third parties. The gift cards sold to our customers have no stated expiration dates and are subject to actual and/or potential escheatment rights in several of the jurisdictions in which we operate. We recognize income from gift cards when redeemed by the customer. While we will continue to honor all gift cards presented for payment, we may determine the likelihood of redemption to be remote for certain card balances due to, among other things, long periods of inactivity. In these circumstances, to the extent we determine there is no requirement for remitting balances to government agencies under unclaimed property laws, card balances may be recognized as a reduction to selling, general and administrative expenses in the accompanying consolidated statements of earnings. Amounts recognized on unredeemed gift card balances was $1.2 million , $1.0 million and $1.0 million in fiscal 2017 , 2016 and 2015 , respectively. Pre-opening costs associated with the opening of a new restaurant consist primarily of property rent and employee training costs. Pre-opening costs associated with the opening of a restaurant that was closed upon acquisition consist primarily of labor costs, maintenance and repair costs, and property rent. Pre-opening costs are expensed as incurred in selling, general and administrative expenses in the accompanying consolidated statements of earnings. Restaurant closure costs — All costs associated with exit or disposal activities are recognized when they are incurred. Restaurant closure costs, which are included in impairment and other charges, net and (gains) losses on the sale of company-operated restaurants in the accompanying consolidated statements of earnings, primarily consist of future lease commitments, net of anticipated sublease rentals, and expected ancillary costs. Self-insurance — We are self-insured for a portion of our workers’ compensation, general liability, employee medical and dental, and automotive claims. We utilize a paid-loss plan for our workers’ compensation, general liability and automotive programs, which have predetermined loss limits per occurrence and in the aggregate. We establish our insurance liability (undiscounted) and reserves using independent actuarial estimates of expected losses for determining reported claims and as the basis for estimating claims incurred, but not reported. As of October 1, 2017 and October 2, 2016 , our estimated liability for general liability and workers’ compensation claims exceeded our self-insurance retention limits by $3.9 million and $8.6 million , respectively, which we expect our insurance providers to pay on our behalf in accordance with the contractual terms of our insurance policies. Advertising costs — We administer marketing funds which include contractual contributions. In fiscal 2017 the marketing funds at franchise and company-operated restaurants were approximately 5.0% and 1.3% of gross revenues at Jack in the Box and Qdoba restaurants, respectively. In fiscal 2016 and 2015, the marketing funds at franchise and company-operated restaurants were generally 5.0% and 2.0% of gross revenues at Jack in the Box and Qdoba restaurants, respectively. We record contributions from franchisees as a liability included in accrued liabilities in the accompanying consolidated balance sheets until such funds are expended. The contributions to the marketing funds are designated for sales driving and marketing-related initiatives and advertising, and we act as an agent for the franchisees with regard to these contributions. Therefore, we do not reflect franchisee contributions to the funds in our consolidated statements of earnings. Production costs of commercials, programming and other marketing activities are charged to the marketing funds when the advertising is first used for its intended purpose, and the costs of advertising are charged to operations as incurred. Total contributions and other marketing expenses are included in selling, general, and administrative expenses in the accompanying consolidated statements of earnings. The following table provides a summary of advertising costs in each fiscal year ( in thousands ): 2017 2016 2015 Jack in the Box $ 36,489 $ 41,189 $ 41,895 Qdoba 21,721 20,488 17,687 Total $ 58,210 $ 61,677 $ 59,582 Share-based compensation — We account for our share-based compensation under the FASB authoritative guidance on stock compensation , which generally requires, among other things, that all employee share-based compensation be measured using a fair value method and that the resulting compensation cost be recognized in the financial statements. Compensation expense for our share-based compensation awards is generally recognized on a straight-line basis over the shorter of the vesting period or the period from the date of grant to the date the employee becomes eligible to retire. Refer to Note 12, Share-based Employee Compensation , for additional information. Income taxes — Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as tax loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We recognize interest and, when applicable, penalties related to unrecognized tax benefits as a component of our income tax provision. Authoritative guidance issued by the FASB prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Refer to Note 10, Income Taxes , for additional information. Derivative instruments — From time to time, we use interest rate swap agreements to manage interest rate exposure. We do not speculate using derivative instruments. We purchase derivative instruments only for the purpose of risk management. All derivatives are recognized on the consolidated balance sheets at fair value based upon quoted market prices. Changes in the fair values of derivatives are recorded in earnings or other comprehensive income (“OCI”), based on whether or not the instrument is designated as a hedge transaction. Gains or losses on derivative instruments that qualify for hedge designation are reported in OCI and are reclassified to earnings in the period the hedged item affects earnings. If the underlying hedge transaction ceases to exist, any associated amounts reported in OCI are reclassified to earnings at that time. Any ineffectiveness is recognized in earnings in the current period. Refer to Note 5, Fair Value Measurements , and Note 6, Derivative Instruments, for additional information regarding our derivative instruments. Contingencies — We recognize liabilities for contingencies when we have an exposure that indicates it is probable that an asset has been impaired or that a liability has been incurred and the amount of impairment or loss can be reasonably estimated. Our ultimate legal and financial liability with respect to such matters cannot be estimated with certainty and requires the use of estimates. When the reasonable estimate is a range, the recorded loss will be the best estimate within the range. We record legal settlement costs when those costs are probable and reasonably estimable. Refer to Note 15, Commitments, Contingencies and Legal Matters , for additional information. Segment reporting — An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by our chief operating decision makers in deciding how to allocate resources. Similar operating segments can be aggregated into a single operating segment if the businesses are similar. We operate our business in two operating segments, Jack in the Box and Qdoba restaurant operations. Refer to Note 16, Segment Reporting , for additional information regarding our segments. Effect of new accounting pronouncements adopted in fiscal 2017 — In April 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. Under this ASU, an entity presents such costs on the balance sheet as a direct deduction from the related debt liability rather than as an asset. This new standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. We adopted this standard in fiscal 2017 and the prior period was retrospectively adjusted. The adjustment resulted in a reclassification of $3.8 million in debt issuance costs from other assets, net to current maturities of long-term debt and long-term debt, net of current maturities in the amount of $1.6 million and $2.2 million , respectively, in our October 2, 2016 consolidated balance sheet. In May 2015, the FASB issued ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which removes the requirement to categorize within the fair value hierarchy investments for which the fair values are measured using the net asset value per share practical expedient. It also limits certain disclosures for investments for which the entity has elected to measure the fair value using the practical expedient. This new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. We adopted this standard in fiscal 2017 and the prior year disclosure was retrospectively adjusted; refer to Note 11, Retirement Plans . The adoption of this standard did not have an impact on our consolidated financial statements. In August 2015, the FASB issued ASU No. 2015-15, Interest-Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , which addresses line-of-credit arrangements that were omitted from ASU No. 2015-03. This ASU states that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing those costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. This new standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. We adopted this standard in fiscal 2017 and there was no impact on our consolidated financial statements as we continue to present debt issuance costs associated with our line-of-credit arrangement as an asset on our consolidated balance sheets. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies the subsequent measurement of goodwill, requiring only a single-step quantitative test to identify and measure impairment based on the excess of a reporting unit's carrying amount over its fair value. A qualitative assessment may still be completed first for an entity to determine if a quantitative impairment test is necessary. This standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The standard requires adoption on a prospective basis. We adopted this standard in fiscal 2017 and the adoption of this standard did not have an impact on our consolidated financial statements. Effect of new accounting pronouncements to be adopted in future periods — In May 2014, the FASB issued ASU No. 2014-09, Revenue Recognition - Revenue from Contracts with Customers (Topic 606) , which provides a comprehensive new revenue recognition model that requires an entity to recognize revenue in an amount that reflects the consideration the entity expects to receive for the transfer of promised goods or services to its customers. The standard also requires additional disclosure regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Further, in March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in ASU No. 2014-09 when evaluating when another party, along with the entity, is involved in providing a good or service to a customer. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which clarifies the guidance in ASU No. 2014-09 regarding assessing whether promises to transfer goods or services are distinct, and whether an entity's promise to grant a license provides a customer with a right to use, or right to access the entity's intellectual property. In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Revenue from Contracts with Customers (Topic 606) . This ASU clarifies the guidance in ASU 2014-09, providing technical corrections and improvements to clarify guidance and correct unintended applications of the guidance. All standards are effective for annual periods beginning after December 15, 2017, and interim periods within that reporting period. As such, we will be required to adopt these standards in the first quarter of fiscal 2019. These standards are to be applied retrospectively or using a cumulative effect transition method, and early adoption is not permitted. We do not believe the new revenue recognition standard will impact our recognition of restaurant sales, rental revenues or royalty fees from franchisees. However, we are still evaluating the impact that this pronouncement will have on the recognition of certain transactions on our consolidated financial statements, including the initial franchise fees currently recognized upon the opening of a franchise restaurant and our advertising arrangements with franchisees currently reported on a net versus gross basis in our consolidated statements of earnings, and the effect it will have on our disclosures. We have not yet selected a transition method. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires a lessee to recognize assets and liabilities on the balance sheet for those leases classified as operating leases under previous guidance. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. As such, we will be required to adopt this standard in the first quarter of fiscal 2020. This standard requires adoption based upon a modified retrospective transition approach, with early adoption permitted. Based on a preliminary assessment, we expect that most of our operating lease commitments will be subject to the new guidance and recognized as operating lease liabilities and right-of-use assets upon adoption, resulting in a significant increase in the assets and liabilities on our consolidated balance sheets. We are continuing our evaluation, which may identify additional impacts this standard will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-04, Liabilities-Extinguishment of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products , which is designed to provide guidance and eliminate diversity in the accounting for the derecognition of financial liabilities related to certain prepaid stored-value products using a revenue-like breakage model. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2019. This standard is to be applied retrospectively or using a cumulative effect transition method as of the date of adoption. We are currently evaluating which transition method to use, but believe the impact this standard will have on our consolidated financial statements and related disclosures will be immaterial upon adoption. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard is intended to simplify various aspects of accounting for share-based compensation arrangem |
Discontinued Operations
Discontinued Operations | 12 Months Ended |
Oct. 01, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | DISCONTINUED OPERATIONS Distribution business — During fiscal 2012, we entered into an agreement with a third party distribution service provider pursuant to a plan approved by our board of directors to sell our Jack in the Box distribution business. During fiscal 2013, we completed the transition of our distribution centers. The operations and cash flows of the business have been eliminated and in accordance with the provisions of the FASB authoritative guidance on the presentation of financial statements, the results are reported as discontinued operations for all periods presented. In fiscal years 2017 , 2016 and 2015, results of discontinued operations were immaterial to our consolidated results of operations. Our liability for lease commitments related to our distribution centers is immaterial to our consolidated balance sheet as of October 2, 2016 . The lease commitment balance relates to one distribution center lease that expired in July 2017. 2013 Qdoba Closures — During fiscal 2013, we closed 62 Qdoba restaurants. The decision to close these restaurants was based on a comprehensive analysis that took into consideration levels of return on investment and other key operating performance metrics. Since the closed restaurants were not predominantly located near those remaining in operation, we did not expect the majority of cash flows and sales lost from these closures to be recovered. In addition, we did not anticipate any ongoing involvement or significant direct cash flows from the closed stores. Therefore, in accordance with the provisions of the FASB authoritative guidance on the presentation of financial statements , the results of operations for these restaurants are reported as discontinued operations for all periods presented. The following table summarizes the results related to the 2013 Qdoba Closures for each fiscal year ( in thousands ): 2017 2016 2015 Unfavorable lease commitment adjustments $ (3,502 ) $ (2,818 ) $ (4,594 ) Ongoing facility related and other costs (172 ) (71 ) (302 ) Brokers commissions (72 ) (58 ) (234 ) Bad debt expense related to subtenants (49 ) (234 ) (366 ) Loss before income tax benefit $ (3,795 ) $ (3,181 ) $ (5,496 ) We do not expect the remaining costs to be incurred related to the closures to be material; however, the estimates we make related to our future lease obligations, primarily sublease income, are subject to a high degree of judgment and may differ from actual sublease income due to changes in economic conditions, desirability of the sites and other factors. Our liability for lease commitments related to the 2013 Qdoba Closures is included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheets and has changed as follows during fiscal 2017 ( in thousands ): Balance at October 2, 2016 $ 2,943 Adjustments (1) 3,502 Cash payments (4,000 ) Balance at October 1, 2017 (2) $ 2,445 ___________________________________________ (1) Adjustments relate to revisions to certain sublease assumptions due to changes in market conditions, as well as charges to terminate seven lease agreements, and includes interest expense. (2) The weighted average remaining lease term related to these commitments is approximately two years. The balance at October 1, 2017 relates to five locations subleased at a loss and 10 locations we are marketing for sublease. The future minimum lease payments and receipts for the next five fiscal years and thereafter are included in the amounts disclosed in Note 8, Leases . |
Summary Of Refranchisings, Fran
Summary Of Refranchisings, Franchisee Development And Acquisitions | 12 Months Ended |
Oct. 01, 2017 | |
Summary Of Refranchisings, Franchisee Development And Acquisitions [Abstract] | |
Summary of Refranchisings, Franchisee Development And Acquisitions | SUMMARY OF REFRANCHISINGS, FRANCHISEE DEVELOPMENT AND ACQUISITIONS Refranchisings and franchisee development — The following table summarizes the number of restaurants sold to franchisees, the number of restaurants developed by franchisees, and the related fees and gains (losses) recognized in each fiscal year ( dollars in thousands ): 2017 2016 2015 Restaurants sold to Jack in the Box franchisees 178 1 21 New restaurants opened by franchisees: Jack in the Box 18 12 16 Qdoba 19 18 22 Initial franchise fees $ 8,078 $ 955 $ 1,453 Proceeds from the sale of company-operated restaurants (1) $ 99,591 $ 1,439 $ 3,951 Net assets sold (primarily property and equipment) (30,597 ) (195 ) (4,283 ) Lease commitment charges (2) (11,737 ) — (2,542 ) Goodwill related to the sale of company-operated restaurants (10,056 ) (15 ) (47 ) Other (3) (9,167 ) 1 (218 ) Gains (losses) on the sale of company-operated restaurants $ 38,034 $ 1,230 $ (3,139 ) ____________________________ (1) Amounts in 2017 include additional proceeds of $0.2 million related to restaurants sold in a prior year. Amounts in 2016 and 2015 include additional proceeds of $1.4 million and $1.5 million , respectively, related to the extension of the underlying franchise and lease agreements from the sale of restaurants in prior years. (2) Charges are for operating restaurant leases with lease commitments in excess of our sublease rental income. (3) Amounts in 2017 represent impairment of $4.6 million and equipment write-offs of $1.4 million related to restaurants closed in connection with the sale of the related markets, maintenance and repair charges, and other miscellaneous non-capital charges. Amounts in 2015 primarily represent impairment charges related to restaurants closed in connection with the sale of the related markets. Prior to the end of fiscal 2017, we signed non-binding letters of intent with franchisees to sell 11 company-operated Jack in the Box restaurants. Pre-tax gross proceeds related to these sales are estimated at $5.0 million to $6.0 million . Equipment of $0.9 million related to these sales has been classified as assets held for sale in our October 1, 2017 consolidated balance sheet. Franchise acquisitions — We acquired fifty , one and seven Jack in the Box franchise restaurants in fiscal 2017 , 2016 and 2015 , respectively. Of the 50 Jack in the Box restaurants acquired in 2017, we took over 31 restaurants as a result of an agreement with an underperforming franchisee who was in violation of franchise and lease agreements with the Company. Under this agreement, the franchisee voluntarily agreed to turn over the restaurants. The acquisition of the additional 19 restaurants in 2017 was the result of a legal action filed in September 2013 against a franchisee, from which legal action we obtained a judgment in January 2017 granting us possession of the restaurants. Of the 50 restaurants acquired in 2017, we sold 18 of the restaurants to franchisees and closed four . We plan to sell the remaining restaurants acquired in 2017 as part of our refranchising strategy. In 2016 , we also acquired 14 Qdoba franchise restaurants. Refer to Note 6, Impairment and Other Charges, Net , for additional information regarding impairment charges related to the restaurants closed subsequent to acquisition. We account for the acquisition of franchised restaurants using the acquisition method of accounting for business combinations. The purchase price allocations were based on fair value estimates determined using significant unobservable inputs (Level 3). The goodwill recorded primarily relates to the sales growth potential of the markets acquired and is expected to be deductible for income tax purposes. The following table provides detail of the combined acquisitions in each fiscal year ( dollars in thousands ): 2017 2016 2015 Restaurants acquired from franchisees 50 15 7 Goodwill $ 13,059 $ 17,034 $ — Property and equipment 2,470 2,954 646 Intangible assets 1,260 91 — Inventory 189 — — Liabilities assumed (1,116 ) (114 ) (613 ) Gains on the acquisition of franchise-operated restaurants — (289 ) (33 ) Other — 140 — Total consideration $ 15,862 $ 19,816 $ — Of the 2017 total consideration, $13.8 million is non-cash consideration and is comprised of $9.9 million of receivables that were eliminated in acquisition accounting and $3.9 million of accounts payable that was recorded in acquisition accounting. The accounts payable recorded is primarily due to third parties to waive their liens and security interests on certain assets acquired. |
Goodwill And Intangible Assets,
Goodwill And Intangible Assets, Net | 12 Months Ended |
Oct. 01, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Intangible Assets, Net | GOODWILL AND INTANGIBLE ASSETS, NET The changes in the carrying amount of goodwill during fiscal 2017 and 2016 by reportable segment were as follows ( in thousands ): Jack in the Box Qdoba Total Balance at September 27, 2015 $ 48,430 $ 100,597 $ 149,027 Acquisition of franchise-operated restaurants — 17,034 17,034 Sale of company-operated restaurants to franchisees (15 ) — (15 ) Balance at October 2, 2016 48,415 117,631 166,046 Acquisition of franchise-operated restaurants 13,059 — 13,059 Sale of company-operated restaurants to franchisees (10,056 ) — (10,056 ) Balance at October 1, 2017 $ 51,418 $ 117,631 $ 169,049 Intangible assets, net consist of the following as of the end of each fiscal year ( in thousands ): 2017 2016 Amortized intangible assets: Gross carrying amount $ 17,993 $ 17,205 Less accumulated amortization (12,721 ) (11,963 ) Net carrying amount 5,272 5,242 Non-amortized intangible assets: Trademark 8,800 8,800 Net carrying amount $ 14,072 $ 14,042 Amortized intangible assets include acquired franchise contracts recorded in connection with our acquisition of Qdoba in 2003 , lease acquisition costs and reacquired franchise rights. The weighted-average life of these amortized intangible assets is approximately 24 years. Total amortization expense related to intangible assets was $0.8 million in fiscal 2017 , 2016 and 2015 . The following table summarizes, as of October 1, 2017 , the estimated amortization expense for each of the next five fiscal years ( in thousands ): 2018 $ 820 2019 $ 760 2020 $ 723 2021 $ 680 2022 $ 599 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Measurements (Notes) | 12 Months Ended |
Oct. 01, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS Financial assets and liabilities — The following table presents the financial assets and liabilities measured at fair value on a recurring basis ( in thousands ): Total Quoted Prices in Active Markets for Identical Assets (3) (Level 1) Significant Other Observable Inputs (3) (Level 2) Significant Unobservable Inputs (3) (Level 3) Fair value measurements as of October 1, 2017: Non-qualified deferred compensation plan (1) $ (37,575 ) $ (37,575 ) $ — $ — Interest rate swaps (Note 6) (2) (22,927 ) — (22,927 ) — Total liabilities at fair value $ (60,502 ) $ (37,575 ) $ (22,927 ) $ — Fair value measurements as of October 2, 2016: Non-qualified deferred compensation plan (1) $ (36,933 ) $ (36,933 ) $ — $ — Interest rate swaps (Note 6) (2) (47,765 ) — (47,765 ) — Total liabilities at fair value $ (84,698 ) $ (36,933 ) $ (47,765 ) $ — ____________________________ (1) We maintain an unfunded defined contribution plan for key executives and other members of management. The fair value of this obligation is based on the closing market prices of the participants’ elected investments. (2) We entered into interest rate swaps to reduce our exposure to rising interest rates on our variable rate debt. The fair values of our interest rate swaps are based upon Level 2 inputs which include valuation models as reported by our counterparties. The key inputs for the valuation models are quoted market prices, discount rates and forward yield curves. (3) We did not have any transfers in or out of Level 1, 2 or 3. The fair values of the Company’s debt instruments are based on the amount of future cash flows associated with each instrument discounted using the Company’s borrowing rate. At October 1, 2017 , the carrying value of all financial instruments was not materially different from fair value, as the borrowings are prepayable without penalty. The estimated fair values of our capital lease obligations approximated their carrying values as of October 1, 2017 . Non-financial assets and liabilities — Our non-financial instruments, which primarily consist of property and equipment, goodwill and intangible assets, are reported at carrying value and are not required to be measured at fair value on a recurring basis. However, on an annual basis or whenever events or changes in circumstances indicate that their carrying value may not be recoverable, non-financial instruments are assessed for impairment. If the carrying values are not fully recoverable, they are written down to fair value. In connection with our impairment reviews performed during fiscal 2017 , we recorded an impairment charge of $2.4 million related to three underperforming Qdoba restaurants which are currently held for use, and $0.7 million in charges for Qdoba furniture and equipment resulting from new restaurant design changes. Refer to Note 9, Impairment and Other Charges, Net , for additional information regarding impairment charges. During fiscal 2017 , we closed nine Jack in the Box company-operated restaurants in connection with the sale of the related markets to franchisees, and recorded an impairment charge of $4.6 million against the gain on sale of company-operated restaurants. Refer to Note 3, Summary of Refranchisings, Franchisee Development and Acquisitions , for additional information regarding these sales. No other fair value adjustments were required. |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Oct. 01, 2017 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Derivative Instruments | DERIVATIVE INSTRUMENTS Objectives and strategies — We are exposed to interest rate volatility with regard to our variable rate debt. In April 2014 , to reduce our exposure to rising interest rates, we entered into nine forward-starting interest rate swap agreements that effectively converted $300.0 million of our variable rate borrowings to a fixed-rate basis from October 2014 through October 2018 . Additionally, in June 2015, we entered into eleven forward-starting interest rate swap agreements that effectively convert an additional $200.0 million of our variable rate borrowings to a fixed rate from October 2015 through October 2018, and $500.0 million from October 2018 through October 2022. These agreements have been designated as cash flow hedges under the terms of the FASB authoritative guidance for derivatives and hedging. To the extent that they are effective in offsetting the variability of the hedged cash flows, changes in the fair values of the derivatives are not included in earnings, but are included in OCI. These changes in fair value are subsequently reclassified into net earnings as a component of interest expense as the hedged interest payments are made on our variable rate debt. Financial position — The following derivative instruments were outstanding as of the end of each fiscal year ( in thousands ): Balance Sheet Location Fair Value 2017 2016 Derivatives designated as hedging instruments: Interest rate swaps Accrued $ (4,777 ) $ (5,857 ) Interest rate swaps Other long-term liabilities (18,150 ) (41,908 ) Total derivatives (Note 5) $ (22,927 ) $ (47,765 ) Financial performance — The following table summarizes the accumulated OCI activity related to our interest rate swap derivative instruments in each fiscal year ( in thousands ): Location of Loss in Income 2017 2016 2015 Gain (loss) recognized in OCI N/A $ 19,768 $ (25,439 ) $ (26,596 ) Loss reclassified from accumulated OCI into net earnings Interest expense, net $ 5,070 $ 4,048 $ 2,011 Amounts reclassified from accumulated OCI into interest expense represent payments made to the counterparty for the effective portions of the interest rate swaps. During the fiscal years presented, our interest rate swaps had no hedge ineffectiveness. |
Indebtedness
Indebtedness | 12 Months Ended |
Oct. 01, 2017 | |
Debt Disclosure [Abstract] | |
Indebtedness | INDEBTEDNESS The detail of our long-term debt at the end of each fiscal year is as follows ( in thousands ): 2017 2016 Revolver, variable interest rate based on an applicable margin plus LIBOR, 3.34% at October 1, 2017 $ 497,022 $ 282,422 Term loan, variable interest rate based on an applicable margin plus LIBOR, 3.24% at October 1, 2017 639,385 694,141 Capital lease obligations, 3.50% weighted average interest rate at October 1, 2017 11,049 18,523 1,147,456 995,086 Less current maturities of long-term debt, net of $1,502 and $1,639 of term loan debt issuance costs, respectively (64,383 ) (55,935 ) Less term loan debt issuance costs (2,141 ) (3,779 ) $ 1,080,932 $ 935,372 Credit facility — At October 1, 2017, our credit facility was comprised of (i) a $900.0 million revolving credit agreement and (ii) a $700.0 million term loan. The interest rate on the credit facility is based on the Company’s leverage ratio and can range from the London Interbank Offered Rate (“LIBOR”) plus 1.25% to 2.25% with a 0% floor on the LIBOR. Both the revolving credit agreement and the term loan have maturity dates of March 19, 2019 . As part of the existing credit agreement, we may also request the issuance of up to $75.0 million in letters of credit, the outstanding amount of which reduces our net borrowing capacity under the agreement. As of October 1, 2017 , our unused borrowing capacity was $371.6 million . Collateral — The Company’s obligations under the credit facility are secured by (i) first priority liens and security interests in the capital stock, partnership and membership interests owned by the Company and/or its subsidiaries, and any proceeds thereof, and (ii) the grant by the Company and the guarantors of first priority liens and security interests in substantially all of their tangible and intangible property, and all proceeds thereof, all of which are subject to certain restrictions set forth in the credit agreement. Additionally, there is a negative pledge on all tangible and intangible assets (including all real and personal property) with customary exceptions as reflected in the credit agreement. Covenants — We are subject to a number of customary covenants under our credit facility, including limitations on additional borrowings, acquisitions, loans to franchisees, lease commitments, stock repurchases and dividend payments, and requirements to maintain certain financial ratios as defined in the credit agreement. Future cash payments — Scheduled principal payments on our long-term debt outstanding at October 1, 2017 for each of the next five fiscal years and thereafter are as follows ( in thousands ): 2018 $ 65,885 2019 1,074,211 2020 1,608 2021 1,655 2022 1,704 Thereafter 2,393 $ 1,147,456 We may make voluntary prepayments of the loans under the revolving credit agreement and term loan at any time without premium or penalty. Specific events such as asset sales, certain issuances of debt, and insurance and condemnation recoveries, may trigger a mandatory prepayment. |
Leases
Leases | 12 Months Ended |
Oct. 01, 2017 | |
Leases [Abstract] | |
Leases Of Lessee And Lessor Disclosure [Text Block] | 8. LEASES As lessee — We lease restaurants and other facilities, which generally have renewal clauses of 1 to 20 years exercisable at our option. In some instances, these leases have provisions for contingent rentals based upon a percentage of defined revenues. Many of our restaurant and other facility leases also have rent escalation clauses and require the payment of property taxes, insurance and maintenance costs. We also lease certain restaurant and office equipment. Minimum rental obligations are accounted for on a straight-line basis over the term of the initial lease, plus lease option terms for certain locations. The components of rent expense were as follows in each fiscal year ( in thousands ): 2017 2016 2015 Minimum rentals $ 223,628 $ 222,437 $ 212,722 Contingent rentals 3,126 2,943 2,549 Total rent expense 226,754 225,380 215,271 Less rental expense on subleased properties (145,834 ) (145,173 ) (141,946 ) Net rent expense $ 80,920 $ 80,207 $ 73,325 The following table presents as of October 1, 2017 , future minimum lease payments under capital and operating leases, including leases recorded as lease obligations relating to continuing and discontinued operations ( in thousands ): Fiscal Year Capital Leases Operating 2018 $ 2,263 $ 235,424 2019 1,968 212,500 2020 1,865 185,817 2021 1,867 170,119 2022 1,832 126,209 Thereafter 3,045 484,677 Total minimum lease payments 12,840 $ 1,414,746 Less amount representing interest, 3.50% weighted average interest rate (1,791 ) Present value of obligations under capital leases 11,049 Less current portion (2,003 ) Long-term capital lease obligations $ 9,046 Total future minimum lease payments of approximately $1.3 billion included in the table above are expected to be recovered under our non-cancelable operating subleases. Assets recorded under capital leases are included in property and equipment, and consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Buildings $ 7,301 $ 9,716 Equipment 11,909 17,855 Less accumulated amortization (8,952 ) (10,325 ) $ 10,258 $ 17,246 Amortization of assets under capital leases is included in depreciation and amortization expense in the consolidated statements of earnings. As lessor — We lease or sublease restaurants to certain franchisees and others under agreements that generally provide for the payment of percentage rentals in excess of stipulated minimum rentals, usually for a period up to 20 years. Most of our leases have rent escalation clauses and renewal clauses of 5 to 20 years. The following table summarizes rents received under these agreements in each fiscal year ( in thousands ): 2017 2016 2015 Total rental income (1) $ 237,171 $ 238,375 $ 232,264 Contingent rentals $ 33,168 $ 31,632 $ 28,348 ________________________________________________ (1) Includes contingent rentals. The minimum rents receivable expected to be received under these non-cancelable operating leases and subleases, including leases recorded as lease obligations relating to continuing and discontinuing operations, and excluding contingent rentals, as of October 1, 2017 are as follows ( in thousands ): Fiscal Year 2018 $ 204,162 2019 219,358 2020 215,921 2021 229,382 2022 206,554 Thereafter 1,248,289 Total minimum future rent receivable $ 2,323,666 Assets held for lease and included in property and equipment consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Land $ 88,647 $ 73,527 Buildings 759,003 674,690 Equipment 342 4,382 847,992 752,599 Less accumulated depreciation (540,851 ) (480,600 ) $ 307,141 $ 271,999 |
Impairment, Disposition Of Prop
Impairment, Disposition Of Property And Equipment, Restaurant Closing Costs And Restructuring | 12 Months Ended |
Oct. 01, 2017 | |
Impairment, Disposition Of Property And Equipment, Restaurant Closing And Restructuring Costs [Abstract] | |
Impairment Disposition Of Property And Equipment, Restaurant Closing Costs and Restructuring | IMPAIRMENT AND OTHER CHARGES, NET Impairment and other charges, net in the accompanying consolidated statements of earnings is comprised of the following in each fiscal year ( in thousands ): 2017 2016 2015 Restructuring costs $ 8,837 $ 10,067 $ 29 Costs of closed restaurants and other 7,237 3,431 3,592 Losses on disposition of property and equipment, net (1) 3,635 2,801 1,319 Restaurant impairment charges 3,096 544 557 Accelerated depreciation 2,336 2,214 6,260 $ 25,141 $ 19,057 $ 11,757 ___________________________________________ (1) In 2015, losses on the disposition of property and equipment were offset by $0.9 million in gains from the resolution of one eminent domain matter involving a Jack in the Box restaurant. Restructuring costs — Restructuring charges in fiscal years 2017 and 2016 are the result of a plan that management initiated in fiscal 2016 to reduce our general and administrative costs. This plan includes cost saving initiatives from workforce reductions, relocation and consolidation of our Qdoba corporate support center, refranchising initiatives, and the consolidation of information technology across both brands. Further, during 2017, we retained Morgan Stanley & Co. LLC to assist our Board of Directors in its evaluation of potential alternatives with respect to Qdoba (the “Qdoba Evaluation”), as well as other ways to enhance shareholder value, and these costs are also included in 2017 restructuring charges. The following is a summary of the costs incurred in connection with these activities during each fiscal year ( in thousands ): 2017 2016 2015 Qdoba Evaluation costs (1) $ 5,285 $ — $ — Facility closing costs (2) 2,052 2,004 — Employee severance and related costs 731 7,583 29 Other (3) 769 480 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) Qdoba Evaluation costs are primarily comprised of legal services, third party consulting and audit fees. (2) In 2017, facility closing costs include $2.0 million in costs related to the exit and early lease termination of the Qdoba corporate support center, which was offset by $0.9 million due to the reversal of the related tenant improvement allowance, and $0.3 million due to the reversal of the related straight-line rent expense. In 2017, facility closing costs also includes $1.2 million of accelerated depreciation related to the relocation of our Qdoba corporate support center. (3) In 2017, other primarily represents employee relocation costs and moving expenses related to the relocation of our Qdoba corporate support center. In 2016, other primarily represents employee relocation costs. The following is a summary of our restructuring costs by operating segment in each fiscal year (in thousands): 2017 2016 2015 Qdoba restaurant operations (1) $ 5,206 $ 1,991 $ — Shared services (2) 3,423 1,764 29 Jack in the Box restaurant operations 208 6,312 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) In 2017, Qdoba restaurant operations includes $2.3 million of Qdoba Evaluation costs. (2) Shared service functions consist primarily of accounting/finance, information technology, human resources, audit services, legal, tax and treasury. In 2017, costs include $3.0 million of Qdoba Evaluation costs. At this time, we are unable to estimate additional charges to be incurred. Total accrued severance costs related to our restructuring activities are included in accrued liabilities and changed as follows during fiscal 2017 (in thousands) : Balance as of October 2, 2016 $ 4,198 Additions 731 Cash payments (4,281 ) Balance as of October 1, 2017 $ 648 Restaurant closing costs — Costs of closed restaurants in 2017 primarily include costs related to canceled capital projects, primarily new site development, and future lease commitments and expected ancillary cost, net of anticipated sublease rentals. Cost of closed restaurants in 2016 and 2015 primarily consist of future lease commitment charges and expected ancillary costs, net of anticipated sublease rentals. Accrued restaurant closing costs included in accrued liabilities and other long-term liabilities, changed as follows during fiscal 2017 ( in thousands ): Balance as of October 2, 2016 $ 7,231 Interest expense 1,594 Adjustments (1) 959 Additions 549 Cash payments (4,130 ) Balance as of October 1, 2017 (2) (3) $ 6,203 ___________________________________________ (1) Adjustments relate primarily to revisions of certain sublease and cost assumptions. Our estimates related to our future lease obligations, primarily the sublease income we anticipate, are subject to a high degree of judgment and may differ from actual sublease income due to changes in economic conditions, desirability of the sites and other factors. (2) The weighted average remaining lease term related to these commitments is approximately four years. (3) This balance excludes $2.9 million of restaurant closing costs that are included in accrued liabilities and other long-term liabilities, which were initially recorded as losses on the sale of company-operated restaurants upon sale to Jack in the Box franchisees in prior years. The future minimum lease payments and receipts for the next five fiscal years and thereafter are included in the amounts disclosed in Note 8, Leases . Our obligations under the leases included in the above table expire at various dates between fiscal 2018 and 2029 . Restaurant Impairment Charges — When events and circumstances indicate that our long-lived assets might be impaired and their carrying amount is greater than the undiscounted cash flows we expect to generate from such assets, we recognize an impairment loss as the amount by which the carrying value exceeds the fair value of the assets. In 2017, restaurant impairment charges included $2.4 million related to the impairment of three underperforming Qdoba restaurants which are currently held for use, and $0.7 million in charges for Qdoba furniture and equipment resulting from new restaurant design changes. Impairment charges in 2016 and 2015 were not material to our consolidated financial statements. Accelerated depreciation — When a long-lived asset will be replaced or otherwise disposed of prior to the end of its estimated useful life, the useful life of the asset is adjusted based on the estimated disposal date and accelerated depreciation is recognized. In fiscal 2017 , accelerated depreciation primarily relates to Qdoba and Jack in the Box restaurant remodels, as well as the anticipated closure of three Jack in the Box and three Qdoba company-operated restaurants. In fiscal 2016 and 2015, accelerated depreciation primarily relates to expenses at our Jack in the Box company-operated restaurants for exterior facility enhancements and the replacement of technology equipment, and in fiscal 2015 it also includes the replacement of beverage equipment. |
Income Taxes
Income Taxes | 12 Months Ended |
Oct. 01, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Income taxes consist of the following in each fiscal year ( in thousands ): 2017 2016 2015 Current: Federal $ 80,787 $ 32,276 $ 59,362 State 12,736 5,315 9,598 93,523 37,591 68,960 Deferred: Federal (9,816 ) 29,975 (2,018 ) State (2,392 ) 4,998 (1,173 ) (12,208 ) 34,973 (3,191 ) Income tax expense from continuing operations $ 81,315 $ 72,564 $ 65,769 Income tax benefit from discontinued operations $ (1,868 ) $ (1,365 ) $ (2,410 ) A reconciliation of the federal statutory income tax rate to our effective tax rate for continuing operations is as follows: 2017 2016 2015 Computed at federal statutory rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal tax benefit 3.8 3.7 3.7 Benefit of jobs tax credits, net of valuation allowance (0.4 ) (1.0 ) (1.1 ) (Benefit) expense related to COLIs (1.0 ) (1.3 ) 0.3 Other, net (0.4 ) 0.1 (1.0 ) 37.0 % 36.5 % 36.9 % The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities at each fiscal year-end are presented below ( in thousands ): 2017 2016 Deferred tax assets: Accrued defined benefit pension and postretirement benefits $ 67,471 $ 89,253 Impairment 23,986 21,904 Accrued insurance 14,708 14,378 Tax loss and tax credit carryforwards 11,860 13,624 Lease commitments related to closed or refranchised locations 10,337 7,440 Share-based compensation 9,715 9,091 Interest rate swaps 8,855 18,483 Leasing transactions 7,532 11,144 Other reserves and allowances 2,843 1,935 Deferred income 1,898 1,887 Accrued vacation pay expense 1,835 2,137 Accrued incentive compensation 1,021 5,536 Other, net 5,185 3,876 Total gross deferred tax assets 167,246 200,688 Valuation allowance (8,507 ) (11,365 ) Total net deferred tax assets 158,739 189,323 Deferred tax liabilities: Intangible assets (33,448 ) (31,827 ) Property and equipment, principally due to differences in depreciation (25,077 ) (38,859 ) Other (1,519 ) (1,050 ) Total gross deferred tax liabilities (60,044 ) (71,736 ) Net deferred tax assets $ 98,695 $ 117,587 Deferred tax assets as of October 1, 2017 include state net operating loss carry-forwards of approximately $66.5 million expiring at various times between 2018 and 2037 . At October 1, 2017 we recorded a valuation allowance of $8.5 million related to losses and state tax credits, which decreased from the $11.4 million at October 2, 2016 primarily due to the release of the valuation allowance on state tax credits. We believe that it is more likely than not that these net operating loss and credit carry-forwards will not be realized and that the remaining deferred tax assets will be realized through future taxable income or alternative tax strategies. The major jurisdictions in which the Company files income tax returns include the United States and states in which we operate that impose an income tax. The federal statutes of limitations have not expired for fiscal years 2014 and forward. The statutes of limitations for California and Texas, which constitute the Company’s major state tax jurisdictions, have not expired for fiscal years 2013 and forward and 2012 and forward, respectively. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Oct. 01, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | RETIREMENT PLANS We sponsor programs that provide retirement benefits to our employees. These programs include defined contribution plans, defined benefit pension plans and postretirement healthcare plans. Defined contribution plans — We maintain a qualified savings plan pursuant to Section 401(k) of the Internal Revenue Code (“IRC”). Effective January 1, 2016, the plan was amended and restated to incorporate Safe Harbor Plan design features which include changes to participant eligibility and company contribution amounts and vesting. The plan allows all employees who have satisfied the service requirements and reached age 21 to defer a percentage of their pay on a pre-tax basis. Beginning January 1, 2016, we match 100% of the first 4% of compensation deferred by the participant. Prior to January 1, 2016, we matched 50% of the first 4% of compensation deferred by the participant. Our contributions under this plan were $2.4 million in fiscal 2017 , and $3.8 million and $1.2 million in fiscal 2016 and 2015 , respectively. We also maintain an unfunded, non-qualified deferred compensation plan for key executives and other members of management whose compensation deferrals or company matching contributions to the qualified savings plan are limited due to IRC rules. Effective January 1, 2016, this non-qualified plan was amended to replace the company matching contribution with an annual restoration match that is intended to “restore” up to the full 4% match for participants whose elective deferrals (and related company matching contributions) to the qualified savings plan were limited due to IRC rules. A participant’s right to the Company restoration match vests immediately. Prior to January 1, 2016, we matched 100% of the first 3% contributed by the participant. This plan allows participants to defer up to 50% of their salary and 85% of their bonus, on a pre-tax basis. In addition, to compensate executives who were hired or promoted into an eligible position prior to May 7, 2015 and who may no longer participate in our supplemental defined benefit pension plan, we also contribute a supplemental amount equal to 4% of an eligible employee’s salary and bonus for a period of 10 years in such eligible position. Our contributions under the non-qualified deferred compensation plan were $0.5 million in fiscal 2017 , and $0.3 million and $1.3 million in fiscal 2016 and 2015 , respectively. A participant’s right to Company contributions in the qualified plan vests immediately, and in the non-qualified plan vests at a rate of 25% per year of service. Defined benefit pension plans — We sponsor two defined benefit pension plans, a “Qualified Plan” covering substantially all full-time employees hired prior to January 1, 2011, and an unfunded supplemental executive retirement plan (“SERP”) which provides certain employees additional pension benefits and was closed to new participants effective January 1, 2007 . In fiscal 2011, the Board of Directors approved changes to our Qualified Plan whereby participants will no longer accrue benefits effective December 31, 2015 . This change was accounted for as a plan “curtailment” in accordance with FASB authoritative guidance. Benefits under both plans are based on the employees’ years of service and compensation over defined periods of employment. Postretirement healthcare plans — We also sponsor two healthcare plans, closed to new participants, that provide postretirement medical benefits to certain employees who have met minimum age and service requirements. The plans are contributory; with retiree contributions adjusted annually, and contain other cost-sharing features such as deductibles and coinsurance. Obligations and funded status — The following table provides a reconciliation of the changes in benefit obligations, plan assets and funded status of our retirement plans for each fiscal year ( in thousands ): Qualified Plan SERP Postretirement Health Plans 2017 2016 2017 2016 2017 2016 Change in benefit obligation: Obligation at beginning of year $ 522,459 $ 442,264 $ 81,450 $ 75,346 $ 28,214 $ 28,911 Service cost 1,331 4,479 855 773 — — Interest cost 19,889 20,926 2,850 3,253 1,003 1,263 Participant contributions — — — — 118 127 Actuarial (gain) loss (20,081 ) 75,456 (2,296 ) 6,938 (2,652 ) (768 ) Benefits paid (10,425 ) (9,791 ) (4,458 ) (4,860 ) (1,168 ) (1,161 ) Settlements (19,406 ) (10,875 ) — — — — Other — — — — 145 (158 ) Obligation at end of year $ 493,767 $ 522,459 $ 78,401 $ 81,450 $ 25,660 $ 28,214 Change in plan assets: Fair value at beginning of year $ 438,402 $ 332,657 $ — $ — $ — $ — Actual return on plan assets 52,138 31,411 — — — — Participant contributions — — — — 118 127 Employer contributions — 95,000 4,458 4,860 905 1,192 Benefits paid (10,425 ) (9,791 ) (4,458 ) (4,860 ) (1,168 ) (1,161 ) Settlements (19,406 ) (10,875 ) — — — — Other — — — — 145 (158 ) Fair value at end of year $ 460,709 $ 438,402 $ — $ — $ — $ — Funded status at end of year $ (33,058 ) $ (84,057 ) $ (78,401 ) $ (81,450 ) $ (25,660 ) $ (28,214 ) Amounts recognized on the balance sheet: Current liabilities $ — $ — $ (4,448 ) $ (4,504 ) $ (1,308 ) $ (1,325 ) Noncurrent liabilities (33,058 ) (84,057 ) (73,953 ) (76,946 ) (24,352 ) (26,889 ) Total liability recognized $ (33,058 ) $ (84,057 ) $ (78,401 ) $ (81,450 ) $ (25,660 ) $ (28,214 ) Amounts in AOCI not yet reflected in net periodic benefit cost: Unamortized actuarial loss (gain), net $ 167,598 $ 216,129 $ 33,462 $ 37,417 $ (574 ) $ 2,239 Unamortized prior service cost — — 418 571 — — Total $ 167,598 $ 216,129 $ 33,880 $ 37,988 $ (574 ) $ 2,239 Other changes in plan assets and benefit obligations recognized in OCI: Net actuarial (gain) loss $ (44,077 ) $ 65,801 $ (2,296 ) $ 6,938 $ (2,652 ) $ (768 ) Amortization of actuarial loss (4,455 ) (2,828 ) (1,659 ) (1,259 ) (162 ) (219 ) Amortization of prior service cost — — (153 ) (240 ) — — Total recognized in OCI (48,532 ) 62,973 (4,108 ) 5,439 (2,814 ) (987 ) Net periodic benefit (credit) cost and other losses (2,467 ) 6,477 5,517 5,525 1,165 1,482 Total recognized in comprehensive income $ (50,999 ) $ 69,450 $ 1,409 $ 10,964 $ (1,649 ) $ 495 Amounts in AOCI expected to be amortized in fiscal 2018 net periodic benefit cost: Net actuarial loss (gain) $ 3,330 $ 1,538 $ (27 ) Prior service cost — 146 — Total $ 3,330 $ 1,684 $ (27 ) Additional year-end pension plan information — The projected benefit obligation (“PBO”) is the actuarial present value of benefits attributable to employee service rendered to date, including the effects of estimated future pay increases. The accumulated benefit obligation (“ABO”) also reflects the actuarial present value of benefits attributable to employee service rendered to date but does not include the effects of estimated future pay increases. Therefore, the ABO as compared to plan assets is an indication of the assets currently available to fund vested and nonvested benefits accrued through the end of the fiscal year. The funded status is measured as the difference between the fair value of a plan’s assets and its PBO. As of October 1, 2017 and October 2, 2016 , the Qualified Plan’s ABO exceeded the fair value of its plan assets. The SERP is an unfunded plan and, as such, had no plan assets as of October 1, 2017 and October 2, 2016 . The following sets forth the PBO, ABO and fair value of plan assets of our pension plans as of the measurement date in each fiscal year ( in thousands ): 2017 2016 Qualified Plan: Projected benefit obligation $ 493,767 $ 522,459 Accumulated benefit obligation $ 493,767 $ 522,459 Fair value of plan assets $ 460,709 $ 438,402 SERP: Projected benefit obligation $ 78,401 $ 81,450 Accumulated benefit obligation $ 78,401 $ 80,815 Fair value of plan assets $ — $ — Net periodic benefit cost — The components of the fiscal year net periodic benefit cost were as follows ( in thousands ): 2017 2016 2015 Qualified Plan: Service cost $ 1,331 $ 4,479 $ 7,592 Interest cost 19,889 20,926 19,750 Expected return on plan assets (28,142 ) (21,756 ) (23,273 ) Actuarial loss 4,455 2,828 8,278 Net periodic benefit (credit) cost $ (2,467 ) $ 6,477 $ 12,347 SERP: Service cost $ 855 $ 773 $ 676 Interest cost 2,850 3,253 2,945 Actuarial loss 1,659 1,259 1,134 Amortization of unrecognized prior service cost 153 240 269 Net periodic benefit cost $ 5,517 $ 5,525 $ 5,024 Postretirement health plans: Interest cost $ 1,003 $ 1,263 $ 1,196 Actuarial loss 162 219 182 Net periodic benefit cost $ 1,165 $ 1,482 $ 1,378 Prior service costs are amortized on a straight-line basis from date of participation to full eligibility. Unrecognized gains or losses are amortized using the “corridor approach” under which the net gain or loss in excess of 10% of the greater of the PBO or the market-related value of the assets, if applicable, is amortized. For our Qualified Plan in fiscal year 2017 and 2016, actuarial losses were amortized over the average future expected lifetime of all participants expected to receive benefits, and in 2015 , actuarial losses were amortized on a straight-line basis over the expected remaining service period of plan participants. For our SERP, actuarial losses are amortized over the expected remaining future lifetime for inactive participants, and for our postretirement health plans, actuarial losses are amortized over the expected remaining future lifetime of inactive participants expected to receive benefits. Assumptions — We determine our actuarial assumptions on an annual basis. In determining the present values of our benefit obligations and net periodic benefit costs as of and for the fiscal years ended October 1, 2017 , October 2, 2016 and September 27, 2015 , we used the following weighted-average assumptions: 2017 2016 2015 Assumptions used to determine benefit obligations (1): Qualified Plan: Discount rate 3.99 % 3.85 % 4.79 % Rate of future pay increases — % — % 3.50 % SERP: Discount rate 3.80 % 3.60 % 4.45 % Rate of future pay increases 3.50 % 3.50 % 3.50 % Postretirement health plans: Discount rate 3.82 % 3.64 % 4.47 % Assumptions used to determine net periodic benefit cost (2): Qualified Plan: Discount rate 3.85 % 4.79 % 4.60 % Long-term rate of return on assets 6.50 % 6.50 % 6.50 % Rate of future pay increases — % 3.50 % 3.50 % SERP: Discount rate 3.60 % 4.45 % 4.36 % Rate of future pay increases 3.50 % 3.50 % 3.50 % Postretirement health plans: Discount rate 3.64 % 4.47 % 4.43 % ____________________________ (1) Determined as of end of year. (2) Determined as of beginning of year. The assumed discount rates were determined by considering the average of pension yield curves constructed of a population of high-quality bonds with a Moody’s or Standard and Poor’s rating of “AA” or better whose cash flow from coupons and maturities match the year-by-year projected benefit payments from the plans. As benefit payments typically extend beyond the date of the longest maturing bond, cash flows beyond 30 years were discounted back to the 30th year and then matched like any other payment. The assumed expected long-term rate of return on assets is the weighted-average rate of earnings expected on the funds invested or to be invested to provide for the pension obligations. The long-term rate of return on assets was determined taking into consideration our projected asset allocation and economic forecasts prepared with the assistance of our actuarial consultants. The assumed discount rate and expected long-term rate of return on assets have a significant effect on amounts reported for our pension and postretirement plans. A quarter percentage point decrease in the discount rate and long-term rate of return used would have decreased fiscal 2017 earnings before income taxes by $0.3 million and $1.1 million , respectively. The assumed average rate of compensation increase is the average annual compensation increase expected over the remaining employment periods for the participating employees. For determining our Qualified Plan’s projected benefit obligation as of October 1, 2017 and October 2, 2016, and the net periodic benefit cost in fiscal 2017, no future pay increases were included in our assumptions as our plan participants no longer accrue benefits effective December 31, 2015. For measurement purposes, the weighted-average assumed health care cost trend rates for our postretirement health plans were as follows for each fiscal year: 2017 2016 2015 Healthcare cost trend rate for next year: Participants under age 65 7.50 % 7.75 % 8.00 % Participants age 65 or older 7.00 % 7.25 % 7.50 % Rate to which the cost trend rate is assumed to decline: Participants under age 65 4.50 % 4.50 % 4.50 % Participants age 65 or older 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend rate: Participants under age 65 2030 2030 2030 Participants age 65 or older 2028 2028 2028 The assumed healthcare cost trend rate represents our estimate of the annual rates of change in the costs of the healthcare benefits currently provided by our postretirement plans. The healthcare cost trend rate implicitly considers estimates of healthcare inflation, changes in healthcare utilization and delivery patterns, technological advances and changes in the health status of the plan participants. The healthcare cost trend rate assumption has a significant effect on the amounts reported. For example, a 1.0% change in the assumed healthcare cost trend rate would have the following effect on the fiscal 2017 net periodic benefit cost and end of year PBO ( in thousands ): 1% Point Increase 1% Point Decrease Total interest and service cost $ 123 $ (105 ) Postretirement benefit obligation $ 2,892 $ (2,482 ) Plan assets — Our investment philosophy is to (1) protect the corpus of the fund; (2) establish investment objectives that will allow the market value to exceed the present value of the vested and unvested liabilities over time; while (3) obtaining adequate investment returns to protect benefits promised to the participants and their beneficiaries. Our asset allocation strategy utilizes multiple investment managers in order to maximize the plan’s return while minimizing risk. We regularly monitor our asset allocation, and senior financial management and the Finance Committee of the Board of Directors review performance results quarterly. We continually review our target asset allocation for our Qualified Plan and when changes are made, we reallocate our plan assets over a period of time, as deemed appropriate by senior financial management, to achieve our target asset allocation. Our plan asset allocation at the end of fiscal 2017 and target allocations were as follows: 2017 Target Minimum Maximum Cash and cash equivalents 1 % — % — % — % Domestic equity 23 25 15 % 35 % International equity 26 25 15 % 35 % Core fixed funds 29 25 20 % 30 % High yield 4 5 — % 10 % Alternative investments 9 9 4 % 14 % Real estate 8 8 3 % 13 % Real return bonds — 3 — % 6 % 100 % 100 % The Company measures its defined benefit plan assets and obligations as of the month-end date closest to its fiscal year end, which is a practical expedient under FASB authoritative guidance. The fair values of the Qualified Plan’s assets by asset category are as follows ( in thousands ): Total Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Items Measured at Fair Value at September 30, 2017: Asset Category: Cash and cash equivalents (1 ) $ 3,245 $ — $ 3,245 $ — Equity: U.S (2 ) 108,241 108,241 — — International (3), (4) 121,130 52,013 — — Fixed income: Investment grade (5 ) 133,737 — 133,737 — High yield (6 ) 19,889 19,889 — — Alternatives (4),(7) 38,933 — — — Real estate (4),(8) 35,534 — — — $ 460,709 $ 180,143 $ 136,982 $ — Items Measured at Fair Value at September 30, 2016: Asset Category: Cash and cash equivalents (1 ) $ 5,479 $ — $ 5,479 $ — Equity: U.S (2 ) 101,174 101,174 — — International (3), (4) 121,884 61,097 — — Fixed income: Investment grade (5 ) 120,439 — 120,439 — High yield (6 ) 24,638 24,638 — — Alternatives (7 ) 24,642 24,642 — — Real estate (4),(8) 40,146 — — — $ 438,402 $ 211,551 $ 125,918 $ — _________________________ (1) Cash and cash equivalents are comprised of commercial paper, short-term bills and notes, and short-term investment funds, which are valued at quoted prices in active markets for similar securities. (2) U.S. equity securities are comprised of investments in common stock of U.S. companies for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date. (3) International equity securities are comprised of investments in common stock of companies located outside of the U.S for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date, or the values are adjusted as a result of market movements following the close of local trading using inputs to models that are observable either directly or indirectly. The portion of these investments that are measured at fair value using the net asset value per share practical expedient (see note 4 below) can be redeemed on a monthly basis. (4) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (5) Investment grade fixed income consists of debt obligations either issued by the US government or have a rating of BBB- / Baa or higher assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices (Level 1), or based on quoted prices in inactive markets, or whose values are based on models, but the inputs to those models are observable either directly or indirectly (Level 2). (6) High yield fixed income consists primarily of debt obligations that have a rating of below BBB- / Baa or lower assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices. (7) Alternative investments consists primarily of an investment in asset classes other than stocks, bonds, and cash. Alternative investments can include commodities, hedge funds, private equity, managed futures, and derivatives. These investments are valued based on unadjusted quoted market prices and can be redeemed on a bi-monthly basis. (8) Real estate is investments in a real estate collective trust for purposes of total return. These investments are valued based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These investments can be redeemed on a quarterly basis. Future cash flows — Our policy is to fund our plans at or above the minimum required by law. As of the date of our last actuarial funding valuation, there was no minimum requirement. We do not anticipate making any contributions to our Qualified Plan in fiscal 2018. Contributions expected to be paid in the next fiscal year, the projected benefit payments for each of the next five fiscal years, and the total aggregate amount for the subsequent five fiscal years are as follows ( in thousands ): Defined Benefit Pension Plans Postretirement Health Plans Estimated net contributions during fiscal 2018 $ 4,448 $ 1,333 Estimated future year benefit payments during fiscal years: 2018 $ 15,889 $ 1,333 2019 $ 16,454 $ 1,391 2020 $ 17,315 $ 1,440 2021 $ 18,046 $ 1,534 2022 $ 18,969 $ 1,579 2023-2027 $ 115,960 $ 8,194 We will continue to evaluate contributions to our Qualified Plan based on changes in pension assets as a result of asset performance in the current market and economic environment. Expected benefit payments are based on the same assumptions used to measure our benefit obligations at October 1, 2017 and include estimated future employee service, if applicable. |
Share-Based Employee Compensati
Share-Based Employee Compensation | 12 Months Ended |
Oct. 01, 2017 | |
Share-based Compensation [Abstract] | |
Share-Based Employee Compensation | SHARE-BASED EMPLOYEE COMPENSATION Stock incentive plans — We offer share-based compensation plans to attract, retain and motivate key officers, employees and non-employee directors to work toward the financial success of the Company. Our stock incentive plans are administered by the Compensation Committee of the Board of Directors and have been approved by the stockholders of the Company. The terms and conditions of our share-based awards are determined by the Compensation Committee for each award date and may include provisions for the exercise price, expirations, vesting, restriction on sales, and forfeitures, as applicable. We issue new shares to satisfy stock issuances under our stock incentive plans. Our Amended and Restated 2004 Stock Incentive Plan authorizes the issuance of up to 11,600,000 common shares in connection with the granting of stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units or performance units to key employees, directors, and other designated employees. As of October 1, 2017 , 2,079,595 shares of common stock were available for future issuance under this plan. We also maintain a deferred compensation plan for non-management directors under which those who are eligible to receive fees or retainers may choose to defer receipt of their compensation. The deferred amounts are converted to stock equivalents. The plan requires settlement in shares of our common stock based on the number of stock equivalents and dividend equivalents at the time of a participant’s separation from the Board of Directors. This plan provides for the issuance of up to 350,000 shares of common stock in connection with the crediting of stock equivalents. As of October 1, 2017 , 143,122 shares of common stock were available for future issuance under this plan. We terminated our employee stock purchase plan (“ESPP”) on February 26, 2015. The ESPP was available for all eligible employees to purchase shares of common stock at 95% of the fair market value on the date of purchase. Employees could authorize us to withhold up to 15% of their base compensation during any offering period, subject to certain limitations. Compensation expense — The components of share-based compensation expense recognized in each fiscal year are as follows ( in thousands ): 2017 2016 2015 Nonvested stock units $ 6,470 $ 5,520 $ 4,989 Performance share awards 2,674 3,068 4,229 Stock options 1,914 2,509 2,782 Nonvested restricted stock awards 88 88 156 Non-management directors’ deferred compensation 270 270 264 Total share-based compensation expense $ 11,416 $ 11,455 $ 12,420 Nonvested restricted stock units — Nonvested restricted stock units (“RSUs”) are generally issued to executives, non-management directors and certain other members of management and employees. Prior to fiscal 2011 , RSUs were granted to certain Executive and Senior Vice Presidents pursuant to our share ownership guidelines. These awards vest upon retirement or termination based on years of service. As of October 1, 2017 , 60,272 of such RSUs were outstanding. Beginning fiscal 2011 , we replaced the ownership share grants with time-vested RSUs for certain Vice Presidents and Officers that vest ratably over four to five years and have a 50% or 100% holding requirement on settled shares, which must be held until termination. As of October 1, 2017 , 142,041 of such RSUs were outstanding. RSUs issued to non-management directors vest 12 months from the date of grant, or upon termination of board service if the director elects to defer receipt, and totaled 52,343 units outstanding as of October 1, 2017 . RSUs issued to certain other employees either cliff vest or vest ratably over three years and totaled 49,576 units outstanding as of October 1, 2017 . These awards are amortized to compensation expense over the estimated vesting period based upon the fair value of our common stock on the award date discounted by the present value of the expected dividend stream over the vesting period. The following is a summary of RSU activity for fiscal 2017 : Shares Weighted- Average Grant Date Fair Value RSUs outstanding at October 2, 2016 328,905 $ 54.05 Granted 65,947 $ 102.42 Released (75,604 ) $ 58.47 Forfeited (15,016 ) $ 80.57 RSUs outstanding at October 1, 2017 304,232 $ 62.14 As of October 1, 2017 , there was approximately $8.0 million of total unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted-average period of 2.5 years. The weighted-average grant date fair value of awards granted was $102.42 , $72.06 and $75.07 in fiscal years 2017 , 2016 and 2015 , respectively. In fiscal years 2017 , 2016 and 2015 , the total fair value of RSUs that vested and were released was $4.4 million , $4.5 million and $2.4 million , respectively. Performance share awards — Performance share awards, granted in the form of stock units, represent a right to receive a certain number of shares of common stock based on the achievement of corporate performance goals and continued employment during the vesting period. Performance share awards issued to executives vest at the end of a three -year period and vested amounts may range from 0% to a maximum of 150% of targeted amounts depending on the achievement of performance measures at the end of a three -year period. The expected cost of the shares is based on the fair value of our stock on the date of grant and is reflected over the vesting period with a reduction for estimated forfeitures. These awards may be settled in cash or shares of common stock at the election of the Company on the date of grant. It is our intent to settle these awards with shares of common stock. The following is a summary of performance share award activity for fiscal 2017 : Shares Weighted- Average Grant Date Fair Value Performance share awards outstanding at October 2, 2016 117,619 $ 62.13 Granted 24,599 $ 95.33 Issued (55,022 ) $ 65.36 Forfeited (1,539 ) $ 84.04 Performance adjustments 6,478 $ 78.27 Performance share awards outstanding at October 1, 2017 92,135 $ 78.67 As of October 1, 2017 , there was approximately $1.7 million of total unrecognized compensation cost related to performance share awards which is expected to be recognized over a weighted-average period of 1.7 years. The weighted-average grant date fair value of awards granted was $95.33 , $75.25 and $73.53 in fiscal years 2017 , 2016 and 2015 , respectively. The total fair value of awards that became fully vested during fiscal years 2017 , 2016 and 2015 was $3.2 million , $3.5 million and $3.5 million , respectively. Stock options — Option grants have contractual terms of seven years and employee options vest over a three -year period. Options may vest sooner for employees meeting certain age and years of service thresholds. All option grants provide for an option exercise price equal to the closing market value of the common stock on the date of grant. The following is a summary of stock option activity for fiscal 2017 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Options outstanding at October 2, 2016 338,457 $ 61.73 Granted 89,792 $ 104.95 Exercised (114,333 ) $ 45.18 Forfeited (1,557 ) $ 73.53 Options outstanding at October 1, 2017 312,359 $ 80.15 4.91 $ 7,072 Options exercisable at October 1, 2017 124,824 $ 66.64 4.11 $ 4,404 Options exercisable and expected to vest at October 1, 2017 312,359 $ 80.15 4.91 $ 7,072 The aggregate intrinsic value in the table above is the amount by which the current market price of our stock on October 1, 2017 exceeds the weighted average exercise price. We use a valuation model to determine the fair value of options granted which requires the input of highly subjective assumptions, including the expected volatility of the stock price. The following table presents the weighted-average assumptions used for stock option grants in each fiscal year, along with the related weighted-average grant date fair value: 2017 2016 2015 Risk-free interest rate 1.37 % 1.66 % 1.78 % Expected dividends yield 1.52 % 1.59 % 1.09 % Expected stock price volatility 28.98 % 26.68 % 32.09 % Expected life of options (in years) 3.50 4.90 6.00 Weighted-average grant date fair value $ 20.92 $ 16.21 $ 22.04 The risk-free interest rate was determined by a yield curve of risk-free rates based on published U.S. Treasury spot rates in effect at the time of grant and has a term equal to the expected life of the related options. The dividend yield assumption is based on the Company’s history and expectations of dividend payouts at the grant date. The expected stock price volatility in all years represents the Company’s historical volatility. The expected life of the options represents the period of time the options are expected to be outstanding and is based on historical trends. As of October 1, 2017 , there was approximately $1.5 million of total unrecognized compensation cost, net of estimated forfeitures, related to stock options grants which is expected to be recognized over a weighted-average period of 1.2 years. The total intrinsic value of stock options exercised was $6.9 million , $18.6 million and $41.8 million in fiscal years 2017 , 2016 and 2015 , respectively. Nonvested stock awards — We previously issued nonvested stock awards (“RSAs”) to certain executives under our share ownership guidelines. Effective fiscal 2009 , we no longer issue RSA awards and have replaced them with grants of RSUs. The RSAs vest, subject to the discretion of our Board of Directors in certain circumstances, upon retirement or termination based upon years of service. These awards are amortized to compensation expense over the estimated vesting period based upon the fair value of our common stock on the award date. As of October 1, 2017 , RSAs outstanding totaled 95,815 shares with a weighted average grant date fair value of $20.56 per share. In fiscal 2017 , there was no activity related to RSAs. As of October 1, 2017 , there was less than $0.1 million of total unrecognized compensation cost related to RSAs, which is expected to be recognized fully in fiscal 2018. Non-management directors’ deferred compensation — All awards outstanding under our directors’ deferred compensation plan are accounted for as equity-based awards and deferred amounts are converted into stock equivalents based on a per share price equal to the average of the closing price of our common stock for the 10 trading days immediately preceding the date the deferred compensation is credited to the director’s account. During fiscal years 2017, 2016 and 2015 no common stock was issued in connection with director retirements. The following is a summary of the stock equivalent activity for fiscal 2017 : Stock Equivalents Weighted- Average Grant Date Fair Value Stock equivalents outstanding at October 2, 2016 84,364 $ 29.43 Deferred directors’ compensation 2,632 $ 102.58 Dividend equivalents 1,519 $ 101.94 Stock equivalents outstanding at October 1, 2017 88,515 $ 32.85 Employee stock purchase plan — The ESPP was terminated during fiscal 2015; therefore, no stock was issued in fiscal 2017 and 2016. During fiscal year 2015, 1,371 shares of common stock were issued pursuant to our ESPP with a fair value of $70.78 . |
Stockholders' Equity Stockholde
Stockholders' Equity Stockholders' Equity (Notes) | 12 Months Ended |
Oct. 01, 2017 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | STOCKHOLDERS’ EQUITY Repurchases of common stock — In September 2016, the Board of Directors approved a stock buyback program for up to $300.0 million in shares of our common stock, expiring in November 2018. In May 2017, the Board of Directors approved an additional stock buyback program for up to $ 100.0 million in shares of our common stock, also expiring in November 2018. During fiscal 2017 , we repurchased 3.2 million shares at an aggregate cost of $327.2 million . As of October 1, 2017 , there was approximately $181.0 million remaining under Board-authorized stock buyback programs which expire in November 2018. In our consolidated statements of cash flows for fiscal years 2017 and 2015, repurchases of common stock includes $7.2 million and $3.1 million , respectively, related to repurchase transactions traded in the prior fiscal years that settled in fiscal years 2017 and 2015, respectively. Repurchases of common stock included in our consolidated statement of cash flows for fiscal 2016 exclude $7.2 million related to repurchase transactions traded in 2016 that settled in the subsequent year. Dividends — In fiscal 2017 , the Board of Directors declared four cash dividends of $0.40 per share totaling $49.2 million . Future dividends are subject to approval by our Board of Directors. |
Average Shares Outstanding
Average Shares Outstanding | 12 Months Ended |
Oct. 01, 2017 | |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | |
Average Shares Outstanding | AVERAGE SHARES OUTSTANDING Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive common shares include nonvested stock awards and units, stock options, and non-management director stock equivalents. Performance share awards are included in the average diluted shares outstanding each period if the performance criteria have been met at the end of the respective periods. The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding in each fiscal year ( in thousands ): 2017 2016 2015 Weighted-average shares outstanding — basic 30,630 33,735 37,587 Effect of potentially dilutive securities: Nonvested stock awards and units 182 188 199 Stock options 59 150 274 Performance share awards 43 73 155 Weighted-average shares outstanding — diluted 30,914 34,146 38,215 Excluded from diluted weighted-average shares outstanding: Antidilutive 76 147 84 Performance conditions not satisfied at the end of the period 53 38 15 |
Commitments, Contingencies And
Commitments, Contingencies And Legal Matters | 12 Months Ended |
Oct. 01, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies And Legal Matters | COMMITMENTS, CONTINGENCIES AND LEGAL MATTERS Commitments — As of October 1, 2017 , we had unconditional purchase obligations during the next five fiscal years as follows ( in thousands ): 2018 $ 880,800 2019 499,200 2020 386,200 2021 380,100 2022 261,300 Total $ 2,407,600 These obligations primarily represent amounts payable under purchase contracts for goods related to system-wide restaurant operations. Legal matters — We assess contingencies, including litigation contingencies, to determine the degree of probability and range of possible loss for potential accrual in our financial statements. An estimated loss contingency is accrued in the financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable, assessing contingencies is highly subjective and requires judgments about future events. When evaluating litigation contingencies, we may be unable to provide a meaningful estimate due to a number of factors, including the procedural status of the matter in question, the availability of appellate remedies, insurance coverage related to the claim or claims in question, the presence of complex or novel legal theories, and/or the ongoing discovery and development of information important to the matter. In addition, damage amounts claimed in litigation against us may be unsupported, exaggerated or unrelated to possible outcomes, and as such are not meaningful indicators of our potential liability or financial exposure. We regularly review contingencies to determine the adequacy of the accruals and related disclosures. The ultimate amount of loss may differ from these estimates. Gessele v. Jack in the Box Inc. — In August 2010, five former employees instituted litigation in federal court in Oregon alleging claims under the federal Fair Labor Standards Act and Oregon wage and hour laws. The plaintiffs alleged that the Company failed to pay non-exempt employees for certain meal breaks and improperly made payroll deductions for shoe purchases and for workers’ compensation expenses, and later added additional claims relating to timing of final pay and related wage and hour claims involving employees of a franchisee. In 2016, the court dismissed the federal claims and those relating to franchise employees. In June 2017, the court granted class certification with respect to state law claims of improper deductions and late payment of final wages. In fiscal 2012, we accrued for a single claim for which we believe a loss is both probable and estimable; this accrued loss contingency did not have a material effect on our results of operations. We continue to believe that no additional losses are probable beyond this accrual, and we cannot estimate a possible loss contingency or range of reasonably possible loss contingencies beyond the accrual. We plan to vigorously defend against this lawsuit. Nonetheless, an unfavorable resolution of this matter in excess of our current accrued loss contingencies could have a material adverse effect on our business, results of operations, liquidity or financial condition. Other legal matters — In addition to the matter described above, we are subject to normal and routine litigation brought by former, current or prospective employees, customers, franchisees, vendors, landlords, shareholders or others. We intend to defend ourselves in any such matters. Some of these matters may be covered, at least in part, by insurance. Our insurance liability (undiscounted) and reserves are established in part by using independent actuarial estimates of expected losses for reported claims and for estimating claims incurred but not reported. We believe that the ultimate determination of liability in connection with legal claims pending against us, if any, in excess of amounts already provided for such matters in the consolidated financial statements, will not have a material adverse effect on our business, our annual results of operations, liquidity or financial position; however, it is possible that our business, results of operations, liquidity, or financial condition could be materially affected in a particular future reporting period by the unfavorable resolution of one or more matters or contingencies during such period. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Oct. 01, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | SEGMENT REPORTING Our principal business consists of developing, operating and franchising our Jack in the Box and Qdoba restaurant concepts, each of which we consider a reportable operating segment. This segment reporting structure reflects our current management structure, internal reporting method and financial information used in deciding how to allocate our resources. Based upon certain quantitative thresholds, each operating segment is considered a reportable segment. We measure and evaluate our segments based on segment revenues and earnings from operations. The reportable segments do not include an allocation of the costs related to shared service functions; nor do they include unallocated costs such as pension expense, share-based compensation and restructuring expense. These costs are reflected in the caption “Shared services and unallocated costs.” The following table provides information related to our operating segments in each fiscal year (in thousands) : 2017 2016 2015 Revenues by segment: Jack in the Box restaurant operations $ 1,097,291 $ 1,162,258 $ 1,145,176 Qdoba restaurant operations 456,623 437,073 395,141 Consolidated revenues $ 1,553,914 $ 1,599,331 $ 1,540,317 Earnings from operations by segment: Jack in the Box restaurant operations $ 280,097 $ 290,346 $ 265,230 Qdoba restaurant operations 31,031 47,250 47,264 Shared services and unallocated costs (83,021 ) (108,911 ) (112,182 ) Gains (losses) on the sale of company-operated restaurants 38,034 1,230 (3,139 ) Consolidated earnings from operations 266,141 229,915 197,173 Interest expense, net 46,518 31,081 18,803 Consolidated earnings from continuing operations and before income taxes $ 219,623 $ 198,834 $ 178,370 Total expenditures for long-lived assets by segment: Jack in the Box restaurant operations $ 29,426 $ 38,607 $ 41,928 Qdoba restaurant operations 34,163 53,316 34,071 Shared services and unallocated costs 3,864 4,692 10,227 Consolidated expenditures for long-lived assets $ 67,453 $ 96,615 $ 86,226 Total depreciation expense by segment: Jack in the Box restaurant operations $ 60,595 $ 66,287 $ 64,597 Qdoba restaurant operations 20,854 19,306 17,103 Shared services and unallocated costs 6,761 6,489 7,078 Consolidated depreciation expense $ 88,210 $ 92,082 $ 88,778 We do not evaluate, manage or measure performance of segments using asset, interest income and expense, or income tax information; accordingly, this information by segment is not prepared or disclosed. |
Supplemental Consolidated Cash
Supplemental Consolidated Cash Flow Information | 12 Months Ended |
Oct. 01, 2017 | |
Supplemental Cash Flow Information [Abstract] | |
Supplemental Consolidated Cash Flow Information | SUPPLEMENTAL CONSOLIDATED CASH FLOW INFORMATION ( in thousands ) 2017 2016 2015 Cash paid during the year for: Income tax payments $ 92,721 $ 33,454 $ 28,764 Interest, net of amounts capitalized $ 42,893 $ 28,576 $ 16,233 (Decrease) increase in obligations for purchases of property and equipment $ (1,848 ) $ (3,122 ) $ 5,388 (Decrease) increase in obligations for treasury stock repurchases $ (7,208 ) $ 7,208 $ (3,112 ) Non cash transactions: Consideration for franchise acquisitions $ 13,809 $ — $ — Decrease in equipment capital lease obligations from the sale of company-operated restaurants $ 5,631 $ — $ — Equipment capital lease obligations incurred $ 1,364 $ 1,124 $ 16,770 Increase in dividends accrued or converted to common stock equivalents $ 308 $ 176 $ 174 |
Supplemental Consolidated Finan
Supplemental Consolidated Financial Statement Information | 12 Months Ended |
Oct. 01, 2017 | |
Supplemental Consolidated Financial Statement Information [Abstract] | |
Supplemental Consolidated Financial Statement Information | SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION ( in thousands ) October 1, October 2, Accounts and other receivables, net: Trade $ 64,576 $ 66,837 Notes receivable 1,276 1,603 Other 7,403 7,680 Allowance for doubtful accounts (4,561 ) (2,760 ) $ 68,694 $ 73,360 Prepaid expenses: Prepaid income taxes $ 18,185 $ 12,113 Prepaid rent — 18,613 Other 10,963 9,672 $ 29,148 $ 40,398 Other assets, net: Company-owned life insurance policies $ 110,057 $ 105,957 Deferred tax assets 98,695 117,587 Deferred rent receivable 47,033 47,485 Other 17,247 19,440 $ 273,032 $ 290,469 Accrued liabilities: Insurance $ 39,031 $ 38,368 Payroll and related taxes 26,249 44,627 Advertising 20,112 21,827 Deferred rent income 17,918 15,909 Sales and property taxes 9,695 14,311 Gift card liability 5,052 5,183 Deferred franchise fees 1,199 929 Other 41,049 40,096 $ 160,305 $ 181,250 Other long-term liabilities: Defined benefit pension plans $ 107,011 $ 161,003 Straight-line rent accrual 47,096 47,070 Other 119,424 140,852 $ 273,531 $ 348,925 |
Unaudited Quarterly Results Of
Unaudited Quarterly Results Of Operations | 12 Months Ended |
Oct. 01, 2017 | |
Selected Quarterly Financial Information [Abstract] | |
Unaudited Quarterly Results Of Operations | UNAUDITED QUARTERLY RESULTS OF OPERATIONS ( in thousands, except per share data ) 16 Weeks Ended 12 Weeks Ended Fiscal Year 2017 January 22, April 16, July 9, October 1, Revenues $ 487,933 $ 369,389 $ 357,846 $ 338,746 Earnings from operations $ 73,117 $ 65,650 $ 66,981 $ 60,393 Net earnings $ 35,929 $ 33,094 $ 36,351 $ 29,958 Net earnings per share: Basic $ 1.12 $ 1.07 $ 1.23 $ 1.02 Diluted $ 1.11 $ 1.06 $ 1.22 $ 1.01 16 Weeks 12 Weeks Ended 13 Weeks Ended Fiscal Year 2016 January 17, April 10, July 3, October 2, Revenues $ 470,823 $ 361,151 $ 368,938 $ 398,419 Earnings from operations $ 62,514 $ 52,786 $ 55,705 $ 58,910 Net earnings $ 33,221 $ 28,682 $ 30,189 $ 31,981 Net earnings per share: Basic $ 0.94 $ 0.85 $ 0.92 $ 0.98 Diluted $ 0.92 $ 0.84 $ 0.91 $ 0.97 |
Subsequent Events (Notes)
Subsequent Events (Notes) | 12 Months Ended |
Oct. 01, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS On November 17, 2017, the Board of Directors declared a cash dividend of $0.40 per share, to be paid on December 15, 2017 to shareholders of record as of the close of business on December 4, 2017. Future dividends will be subject to approval by our Board of Directors. Subsequent to the end of fiscal 2017, we signed non-binding letters of intent with franchisees to sell 21 Jack in the Box company-operated restaurants in several markets. Pre-tax gross proceeds related to these sales are estimated at $12.0 million to $13.0 million . |
Nature Of Operations And Summ28
Nature Of Operations And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Oct. 01, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of presentation | Basis of presentation — The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). During fiscal 2012, we entered into an agreement to outsource our Jack in the Box distribution business. In fiscal 2013, we closed 62 Qdoba restaurants (the “2013 Qdoba Closures”) as part of a comprehensive Qdoba market performance review. The results of operations for our distribution business and for the 2013 Qdoba Closures are reported as discontinued operations for all periods presented. Refer to Note 2, Discontinued Operations , for additional information. Unless otherwise noted, amounts and disclosures throughout these notes to the consolidated financial statements relate to our continuing operations. |
Reclassifications [Text Block] | Reclassifications and adjustments — Certain prior year amounts in the consolidated balance sheets have been reclassified due to the adoption of a new accounting pronouncement. See discussion below. |
Fiscal year | Fiscal year — Our fiscal year is 52 or 53 weeks ending the Sunday closest to September 30 . Comparisons throughout these notes to the consolidated financial statements refer to the 52 -week period ended October 1, 2017 for the fiscal year 2017 , 53-week period ended October 2, 2016 and 52-week period ended September 27, 2015 for fiscal years 2016 and 2015 , respectively. |
Principles of consolidation | Principles of consolidation — The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and the accounts of any variable interest entities (“VIEs”) where we are deemed the primary beneficiary. All significant intercompany accounts and transactions are eliminated. The Financial Accounting Standards Board (“FASB”) authoritative guidance on consolidation requires the primary beneficiary of a VIE to consolidate that entity. The primary beneficiary of a VIE is an enterprise that has a controlling financial interest in the VIE. Controlling financial interest exists when an enterprise has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The primary entities in which we possess a variable interest are franchise entities, which operate our franchise restaurants. We do not possess any ownership interests in franchise entities. We have reviewed these franchise entities and determined that we are not the primary beneficiary of the entities and therefore, these entities have not been consolidated. We hold and consolidate a variable interest in a subsidiary formed for the purpose of operating a franchisee lending program. The financial results and position of our VIE are immaterial to our consolidated financial statements. |
Use of estimates | Use of estimates — In preparing the consolidated financial statements in conformity with U.S. GAAP, management is required to make certain assumptions and estimates that affect reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingencies. In making these assumptions and estimates, management may from time to time seek advice and consider information provided by actuaries and other experts in a particular area. Actual amounts could differ materially from these estimates. |
Accounts and other receivables, net | Accounts and other receivables, net is primarily comprised of receivables from franchisees, tenants and credit card processors. Franchisee receivables primarily include rents, royalties, and marketing fees associated with lease and franchise agreements. Tenant receivables relate to subleased properties where we are on the master lease agreement. We accrue interest on notes receivable based on the contractual terms. The allowance for doubtful accounts is based on historical experience and a review of existing receivables. Changes in accounts and other receivables are classified as an operating activity in the consolidated statements of cash flows. |
Inventories | Inventories consist principally of food, packaging and supplies, and are valued at the lower of cost or market on a first-in, first-out basis. Changes in inventories are classified as an operating activity in the consolidated statements of cash flows. |
Assets held for sale | Assets held for sale typically represent the costs for new sites and existing sites that we plan to sell and lease back within the next year. Gains or losses realized on sale-leaseback transactions are deferred and amortized over the lease terms. Assets held for sale also periodically includes the net book value of property and/or equipment we plan to sell within the next year. If the determination is made that we no longer expect to sell an asset within the next year, the asset is reclassified out of assets held for sale. |
Disclosure of Long Lived Assets Held-for-sale [Table Text Block] | Assets held for sale consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Assets held for sale and leaseback $ 15,792 $ 14,259 Other property and equipment held for sale 8,315 — Assets held for sale $ 24,107 $ 14,259 |
Property and equipment, at cost | Property and equipment, net — Expenditures for new facilities and equipment, and those that substantially increase the useful lives of the property, are capitalized. Facilities leased under capital leases are stated at the present value of minimum lease payments at the beginning of the lease term, not to exceed fair value. Maintenance and repairs are expensed as incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and gains or losses on the dispositions are reflected in results of operations. Buildings, equipment and leasehold improvements are generally depreciated using the straight-line method based on the estimated useful lives of the assets, over the initial lease term for certain assets acquired in conjunction with the lease commencement for leased properties, or the remaining lease term for certain assets acquired after the commencement of the lease for leased properties. In certain situations, one or more option periods may be used in determining the depreciable life of assets related to leased properties if we deem that an economic penalty would be incurred otherwise. In either circumstance, our policy requires lease term consistency when calculating the depreciation period, in classifying the lease and in computing straight-line rent expense. Building, leasehold improvement assets and equipment are assigned lives that range from 1 to 35 years. Depreciation expense related to property and equipment was $88.2 million , $92.1 million and $88.8 million in fiscal year 2017 , 2016 , and 2015 , respectively. |
Depreciation, Depletion, and Amortization [Policy Text Block] | Buildings, equipment and leasehold improvements are generally depreciated using the straight-line method based on the estimated useful lives of the assets, over the initial lease term for certain assets acquired in conjunction with the lease commencement for leased properties, or the remaining lease term for certain assets acquired after the commencement of the lease for leased properties. In certain situations, one or more option periods may be used in determining the depreciable life of assets related to leased properties if we deem that an economic penalty would be incurred otherwise. In either circumstance, our policy requires lease term consistency when calculating the depreciation period, in classifying the lease and in computing straight-line rent expense. Building, leasehold improvement assets and equipment are assigned lives that range from 1 to 35 years. Depreciation expense related to property and equipment was $88.2 million , $92.1 million and $88.8 million in fiscal year 2017 , 2016 , and 2015 , respectively. |
Impairment of long-lived assets | Impairment of long-lived assets — We evaluate our long-lived assets, such as property and equipment, for impairment on an annual basis or whenever events or changes in circumstances indicate that their carrying value may not be recoverable. This review generally includes a restaurant-level analysis, except when we are actively selling a group of restaurants in which case we perform our impairment evaluations at the group level. Impairment evaluations for individual restaurants take into consideration a restaurant’s operating cash flows, the period of time since a restaurant has been opened or remodeled, refranchising expectations, if any, and the maturity of the related market, which are all significant unobservable inputs (“Level 3 Inputs”). Impairment evaluations for a group of restaurants take into consideration the group’s expected future cash flows and sales proceeds from bids received, if any, or fair market value based on, among other considerations, the specific sales and cash flows of those restaurants. If the assets of a restaurant or group of restaurants subject to our impairment evaluation are not recoverable based upon the forecasted, undiscounted cash flows, we recognize an impairment loss by the amount which the carrying value of the assets exceeds fair value. Refer to Note 9, Impairment and Other Charges, Net , for additional information. Long-lived assets that meet the held for sale criteria, which excludes assets intended to be sold and leased back, are held for sale and reported at the lower of their carrying value or fair value, less estimated costs to sell. |
Goodwill and intangible assets | Goodwill and intangible assets — Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired, if any. We generally record goodwill in connection with the acquisition of restaurants from franchisees. Likewise, upon the sale of restaurants to franchisees, goodwill is decremented. The amount of goodwill written-off is determined as the fair value of the business disposed of as a percentage of the fair value of the reporting unit retained. If the business disposed of was never fully integrated into the reporting unit after its acquisition, and thus the benefits of the acquired goodwill were never realized, the current carrying amount of the acquired goodwill is written off. Goodwill is evaluated for impairment annually, or more frequently if indicators of impairment are present. We first assess qualitative factors to determine whether the existence of events or circumstances lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the qualitative factors indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we perform a single-step impairment test of goodwill. To perform our impairment analysis, we estimate the fair value of the reporting unit using Level 3 Inputs and compare it to the carrying value of the reporting unit. If the carrying value exceeds the fair value of the reporting unit, an impairment loss is recognized equal to the excess. Intangible assets, net is comprised primarily of our Qdoba trademark, acquired franchise contract costs, lease acquisition costs and reacquired franchise rights. Our Qdoba trademark and acquired franchise contract costs were recorded in connection with our acquisition of Qdoba Restaurant Corporation in fiscal 2003 . Our Qdoba trademark asset has an indefinite life and is not amortized. Acquired franchise contract costs represent the acquired value of franchise contracts, which are amortized over the term of the franchise agreements plus options based on the projected royalty revenue stream. Lease acquisition costs primarily represent the fair values of acquired lease contracts having contractual rents lower than fair market rents and are amortized on a straight-line basis over the remaining initial lease term. Reacquired franchise rights are recorded in connection with our acquisition of franchised restaurants and are amortized over the remaining contractual period of the franchise contract in which the right was granted. Our non-amortizing intangible asset is evaluated for impairment annually, or more frequently if indicators of impairment are present. We first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the intangible asset is less than its carrying amount. If the qualitative factors indicate that it is more likely than not that the fair value of the intangible asset is less than its carrying amount, we compare the fair value of the non-amortizing intangible asset, established using Level 3 Inputs, with its carrying amount. If the carrying amount of an intangible asset exceeds its fair value, an impairment loss is recognized equal to the excess. Refer to Note 4, Goodwill and Intangible Assets, Net , for additional information. |
Company-owned life insurance | Company-owned life insurance — We have purchased company-owned life insurance (“COLI”) policies to support our non-qualified benefit plans. The cash surrender values of these policies were $110.1 million and $106.0 million as of October 1, 2017 and October 2, 2016 , respectively, and are included in other assets, net in the accompanying consolidated balance sheets. Changes in cash surrender values are included in selling, general and administrative expenses in the accompanying consolidated statements of earnings. These policies reside in an umbrella trust for use only to pay plan benefits to participants or to pay creditors if the Company becomes insolvent. |
Leases | Leases — We review all leases for capital or operating classification at their inception under the FASB authoritative guidance for leases. Our operations are primarily conducted under operating leases. Within the provisions of certain leases, there are rent holidays and escalations in payments over the base lease term, as well as renewal periods. The effects of the holidays and escalations have been reflected in rent expense on a straight-line basis over the expected lease term. Differences between amounts paid and amounts expensed are recorded as deferred rent. Certain leases also provide for tenant incentives used to fund leasehold improvements. Tenant incentives are recorded as deferred tenant improvement allowances in our consolidated balance sheets based on their short-term or long-term nature, and are amortized as reductions of rent expense over the term of the corresponding lease. The lease term commences on the date when we have the right to control the use of the leased property. Certain leases also include contingent rent provisions based on sales levels, which are accrued at the point in time we determine that it is probable such sales levels will be achieved. Refer to Note 8, Leases , for additional information. |
Revenue recognition | Revenue recognition — Revenue from company restaurant sales is recognized when the food and beverage products are sold and are presented net of sales taxes. Our franchise arrangements generally provide for franchise fees and continuing fees based upon a percentage of sales (“royalties”). In order to renew a franchise agreement upon expiration, a franchisee must obtain the Company’s approval and pay then current fees. Franchise development and license fees are recorded as deferred revenue until we have substantially performed all of our contractual obligations and the restaurant has opened for business. Franchise royalties are recorded in revenues on an accrual basis. Among other things, a franchisee may be provided the use of land and building, generally for a period of 20 years, and is required to pay negotiated rent, property taxes, insurance and maintenance. Franchise rents based on fixed rental payments are recognized as revenue over the term of the lease. Certain franchise rents, which are contingent upon sales levels, are recognized in the period in which the contingency is met. |
Gift cards | Gift cards — We sell gift cards to our customers in our restaurants and through selected third parties. The gift cards sold to our customers have no stated expiration dates and are subject to actual and/or potential escheatment rights in several of the jurisdictions in which we operate. We recognize income from gift cards when redeemed by the customer. While we will continue to honor all gift cards presented for payment, we may determine the likelihood of redemption to be remote for certain card balances due to, among other things, long periods of inactivity. In these circumstances, to the extent we determine there is no requirement for remitting balances to government agencies under unclaimed property laws, card balances may be recognized as a reduction to selling, general and administrative expenses in the accompanying consolidated statements of earnings. Amounts recognized on unredeemed gift card balances was $1.2 million , $1.0 million and $1.0 million in fiscal 2017 , 2016 and 2015 , respectively. |
Pre-opening costs | Pre-opening costs associated with the opening of a new restaurant consist primarily of property rent and employee training costs. Pre-opening costs associated with the opening of a restaurant that was closed upon acquisition consist primarily of labor costs, maintenance and repair costs, and property rent. Pre-opening costs are expensed as incurred in selling, general and administrative expenses in the accompanying consolidated statements of earnings. |
Restaurant closure costs | Restaurant closure costs — All costs associated with exit or disposal activities are recognized when they are incurred. Restaurant closure costs, which are included in impairment and other charges, net and (gains) losses on the sale of company-operated restaurants in the accompanying consolidated statements of earnings, primarily consist of future lease commitments, net of anticipated sublease rentals, and expected ancillary costs. |
Self-insurance | Self-insurance — We are self-insured for a portion of our workers’ compensation, general liability, employee medical and dental, and automotive claims. We utilize a paid-loss plan for our workers’ compensation, general liability and automotive programs, which have predetermined loss limits per occurrence and in the aggregate. We establish our insurance liability (undiscounted) and reserves using independent actuarial estimates of expected losses for determining reported claims and as the basis for estimating claims incurred, but not reported. As of October 1, 2017 and October 2, 2016 , our estimated liability for general liability and workers’ compensation claims exceeded our self-insurance retention limits by $3.9 million and $8.6 million , respectively, which we expect our insurance providers to pay on our behalf in accordance with the contractual terms of our insurance policies. |
Advertising costs | Advertising costs — We administer marketing funds which include contractual contributions. In fiscal 2017 the marketing funds at franchise and company-operated restaurants were approximately 5.0% and 1.3% of gross revenues at Jack in the Box and Qdoba restaurants, respectively. In fiscal 2016 and 2015, the marketing funds at franchise and company-operated restaurants were generally 5.0% and 2.0% of gross revenues at Jack in the Box and Qdoba restaurants, respectively. We record contributions from franchisees as a liability included in accrued liabilities in the accompanying consolidated balance sheets until such funds are expended. The contributions to the marketing funds are designated for sales driving and marketing-related initiatives and advertising, and we act as an agent for the franchisees with regard to these contributions. Therefore, we do not reflect franchisee contributions to the funds in our consolidated statements of earnings. Production costs of commercials, programming and other marketing activities are charged to the marketing funds when the advertising is first used for its intended purpose, and the costs of advertising are charged to operations as incurred. Total contributions and other marketing expenses are included in selling, general, and administrative expenses in the accompanying consolidated statements of earnings. |
Share-based compensation | Share-based compensation — We account for our share-based compensation under the FASB authoritative guidance on stock compensation , which generally requires, among other things, that all employee share-based compensation be measured using a fair value method and that the resulting compensation cost be recognized in the financial statements. Compensation expense for our share-based compensation awards is generally recognized on a straight-line basis over the shorter of the vesting period or the period from the date of grant to the date the employee becomes eligible to retire. |
Income taxes | Income taxes — Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as tax loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. We recognize interest and, when applicable, penalties related to unrecognized tax benefits as a component of our income tax provision. Authoritative guidance issued by the FASB prescribes a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. The minimum threshold is defined as a tax position that is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Refer to Note 10, Income Taxes , for additional information. |
Derivative instruments | Derivative instruments — From time to time, we use interest rate swap agreements to manage interest rate exposure. We do not speculate using derivative instruments. We purchase derivative instruments only for the purpose of risk management. All derivatives are recognized on the consolidated balance sheets at fair value based upon quoted market prices. Changes in the fair values of derivatives are recorded in earnings or other comprehensive income (“OCI”), based on whether or not the instrument is designated as a hedge transaction. Gains or losses on derivative instruments that qualify for hedge designation are reported in OCI and are reclassified to earnings in the period the hedged item affects earnings. If the underlying hedge transaction ceases to exist, any associated amounts reported in OCI are reclassified to earnings at that time. Any ineffectiveness is recognized in earnings in the current period. Refer to Note 5, Fair Value Measurements , and Note 6, Derivative Instruments, for additional information regarding our derivative instruments. |
Contingencies | Contingencies — We recognize liabilities for contingencies when we have an exposure that indicates it is probable that an asset has been impaired or that a liability has been incurred and the amount of impairment or loss can be reasonably estimated. Our ultimate legal and financial liability with respect to such matters cannot be estimated with certainty and requires the use of estimates. When the reasonable estimate is a range, the recorded loss will be the best estimate within the range. We record legal settlement costs when those costs are probable and reasonably estimable. Refer to Note 15, Commitments, Contingencies and Legal Matters , for additional information. |
Segment reporting | Segment reporting — An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by our chief operating decision makers in deciding how to allocate resources. Similar operating segments can be aggregated into a single operating segment if the businesses are similar. We operate our business in two operating segments, Jack in the Box and Qdoba restaurant operations. Refer to Note 16, Segment Reporting , for additional information regarding our segments. |
Description of New Accounting Pronouncements, Policy [Text Block] | Effect of new accounting pronouncements adopted in fiscal 2017 — In April 2015, the FASB issued Accounting Standards Update (“ASU”) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. Under this ASU, an entity presents such costs on the balance sheet as a direct deduction from the related debt liability rather than as an asset. This new standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. We adopted this standard in fiscal 2017 and the prior period was retrospectively adjusted. The adjustment resulted in a reclassification of $3.8 million in debt issuance costs from other assets, net to current maturities of long-term debt and long-term debt, net of current maturities in the amount of $1.6 million and $2.2 million , respectively, in our October 2, 2016 consolidated balance sheet. In May 2015, the FASB issued ASU No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which removes the requirement to categorize within the fair value hierarchy investments for which the fair values are measured using the net asset value per share practical expedient. It also limits certain disclosures for investments for which the entity has elected to measure the fair value using the practical expedient. This new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted. We adopted this standard in fiscal 2017 and the prior year disclosure was retrospectively adjusted; refer to Note 11, Retirement Plans . The adoption of this standard did not have an impact on our consolidated financial statements. In August 2015, the FASB issued ASU No. 2015-15, Interest-Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements , which addresses line-of-credit arrangements that were omitted from ASU No. 2015-03. This ASU states that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing those costs ratably over the term of the arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. This new standard is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. We adopted this standard in fiscal 2017 and there was no impact on our consolidated financial statements as we continue to present debt issuance costs associated with our line-of-credit arrangement as an asset on our consolidated balance sheets. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The standard simplifies the subsequent measurement of goodwill, requiring only a single-step quantitative test to identify and measure impairment based on the excess of a reporting unit's carrying amount over its fair value. A qualitative assessment may still be completed first for an entity to determine if a quantitative impairment test is necessary. This standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The standard requires adoption on a prospective basis. We adopted this standard in fiscal 2017 and the adoption of this standard did not have an impact on our consolidated financial statements. Effect of new accounting pronouncements to be adopted in future periods — In May 2014, the FASB issued ASU No. 2014-09, Revenue Recognition - Revenue from Contracts with Customers (Topic 606) , which provides a comprehensive new revenue recognition model that requires an entity to recognize revenue in an amount that reflects the consideration the entity expects to receive for the transfer of promised goods or services to its customers. The standard also requires additional disclosure regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Further, in March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the guidance in ASU No. 2014-09 when evaluating when another party, along with the entity, is involved in providing a good or service to a customer. In April 2016, the FASB issued ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which clarifies the guidance in ASU No. 2014-09 regarding assessing whether promises to transfer goods or services are distinct, and whether an entity's promise to grant a license provides a customer with a right to use, or right to access the entity's intellectual property. In December 2016, the FASB issued ASU No. 2016-20, Technical Corrections and Improvements to Revenue from Contracts with Customers (Topic 606) . This ASU clarifies the guidance in ASU 2014-09, providing technical corrections and improvements to clarify guidance and correct unintended applications of the guidance. All standards are effective for annual periods beginning after December 15, 2017, and interim periods within that reporting period. As such, we will be required to adopt these standards in the first quarter of fiscal 2019. These standards are to be applied retrospectively or using a cumulative effect transition method, and early adoption is not permitted. We do not believe the new revenue recognition standard will impact our recognition of restaurant sales, rental revenues or royalty fees from franchisees. However, we are still evaluating the impact that this pronouncement will have on the recognition of certain transactions on our consolidated financial statements, including the initial franchise fees currently recognized upon the opening of a franchise restaurant and our advertising arrangements with franchisees currently reported on a net versus gross basis in our consolidated statements of earnings, and the effect it will have on our disclosures. We have not yet selected a transition method. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires a lessee to recognize assets and liabilities on the balance sheet for those leases classified as operating leases under previous guidance. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. As such, we will be required to adopt this standard in the first quarter of fiscal 2020. This standard requires adoption based upon a modified retrospective transition approach, with early adoption permitted. Based on a preliminary assessment, we expect that most of our operating lease commitments will be subject to the new guidance and recognized as operating lease liabilities and right-of-use assets upon adoption, resulting in a significant increase in the assets and liabilities on our consolidated balance sheets. We are continuing our evaluation, which may identify additional impacts this standard will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU No. 2016-04, Liabilities-Extinguishment of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products , which is designed to provide guidance and eliminate diversity in the accounting for the derecognition of financial liabilities related to certain prepaid stored-value products using a revenue-like breakage model. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2019. This standard is to be applied retrospectively or using a cumulative effect transition method as of the date of adoption. We are currently evaluating which transition method to use, but believe the impact this standard will have on our consolidated financial statements and related disclosures will be immaterial upon adoption. In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This standard is intended to simplify various aspects of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. This standard is effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2018 and will classify the excess tax benefits from share-based compensation arrangements, which were $4.2 million in 2017, as a discrete item within income tax expense on the consolidated statements of earnings, rather than recognizing such excess income tax benefits in capital in excess of par value on the consolidated statements of stockholders’ deficit. This reclassification will be made on a prospective basis and will also impact the related classification on our consolidated statements of cash flows as excess tax benefits from share-based compensation arrangements will only be reported in cash flows from operating activities rather than as currently reported in cash flows from operating activities and cash flows used in investing activities. Other than these reclassifications, we do not believe the adoption of this ASU will materially impact our consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . This standard is intended to address eight classification issues related to the statement of cash flows to reduce diversity in practice in how certain transactions are classified. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2019. This standard requires adoption based upon a retrospective transition method. We are currently evaluating this standard, but do not believe it will have a material impact on the classification of cash flows within our statement of cash flows. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. This standard requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, rather than deferring the recognition until the asset has been sold to an outside party. This standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2019. The standard requires adoption on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. We are currently evaluating this standard, but do not believe it will have a material impact on our consolidated financial statements. In December 2016, the FASB issued ASU 2016-19, Technical Corrections and Improvements . This standard contains amendments that affect a wide variety of topics in the Accounting Standards Codification. The amendments include differences between original FASB guidance and the Accounting Standards Codification, guidance clarification and reference corrections, simplification and minor improvements. This standard is effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period, with early adoption permitted. As such, we will be required to adopt this standard in the first quarter of fiscal 2018. This standard is not expected have a significant effect on our accounting policies or on our consolidated financial statements and related disclosures. In February 2017, the FASB issued ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) : Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets . The standard provides clarification about the term “in substance nonfinancial asset” and guidance for recognizing gains and losses from the transfer of nonfinancial assets and for partial sales of nonfinancial assets. The standard is required to be adopted retrospectively, in conjunction with ASU 2014-09. As such, we will be required to adopt this standard in the first quarter of fiscal 2019. This standard is not expected to have a material impact on our consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This standard requires the presentation of the service cost component of net benefit cost to be in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. All other components of net benefit cost should be presented separately from the service cost component and outside of a subtotal of earnings from operations, or separately disclosed. The standard is effective for annual and interim periods beginning after December 15, 2017 and must be adopted retrospectively. Early adoption is permitted as of the beginning of an annual period, but we plan to adopt this standard in the first quarter of fiscal 2019. Upon adoption of this standard, we will separately present the components of net periodic benefit cost, excluding the service cost component, outside of earnings from operations. Net periodic benefit cost, excluding the service cost component, was $2.0 million and $8.2 million in fiscal 2017 and 2016, respectively. In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting . This standard provides guidance that clarifies when changes to the terms or conditions of a share-based payment award require the application of modification accounting under ASC 718. This new guidance will allow for certain changes to be made to awards without accounting for them as modifications. The standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The standard is required to be applied prospectively to awards modified on or after the adoption date. We will be required to adopt this standard in the first quarter of fiscal 2019. This standard is not expected to have a significant effect on our accounting policies or on our consolidated financial statements and related disclosures. |
Nature Of Operations And Summ29
Nature Of Operations And Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary Of Number Of Restaurants | The following table summarizes the number of restaurants as of the end of each fiscal year: 2017 2016 2015 Jack in the Box: Company-operated 276 417 413 Franchise 1,975 1,838 1,836 Total system 2,251 2,255 2,249 Qdoba: Company-operated 385 367 322 Franchise 341 332 339 Total system 726 699 661 The following table summarizes the number of restaurants sold to franchisees, the number of restaurants developed by franchisees, and the related fees and gains (losses) recognized in each fiscal year ( dollars in thousands ): 2017 2016 2015 Restaurants sold to Jack in the Box franchisees 178 1 21 New restaurants opened by franchisees: Jack in the Box 18 12 16 Qdoba 19 18 22 Initial franchise fees $ 8,078 $ 955 $ 1,453 Proceeds from the sale of company-operated restaurants (1) $ 99,591 $ 1,439 $ 3,951 Net assets sold (primarily property and equipment) (30,597 ) (195 ) (4,283 ) Lease commitment charges (2) (11,737 ) — (2,542 ) Goodwill related to the sale of company-operated restaurants (10,056 ) (15 ) (47 ) Other (3) (9,167 ) 1 (218 ) Gains (losses) on the sale of company-operated restaurants $ 38,034 $ 1,230 $ (3,139 ) ____________________________ (1) Amounts in 2017 include additional proceeds of $0.2 million related to restaurants sold in a prior year. Amounts in 2016 and 2015 include additional proceeds of $1.4 million and $1.5 million , respectively, related to the extension of the underlying franchise and lease agreements from the sale of restaurants in prior years. (2) Charges are for operating restaurant leases with lease commitments in excess of our sublease rental income. (3) Amounts in 2017 represent impairment of $4.6 million and equipment write-offs of $1.4 million related to restaurants closed in connection with the sale of the related markets, maintenance and repair charges, and other miscellaneous non-capital charges. Amounts in 2015 primarily represent impairment charges related to restaurants closed in connection with the sale of the related markets. |
Summary Of Advertising Costs | The following table provides a summary of advertising costs in each fiscal year ( in thousands ): 2017 2016 2015 Jack in the Box $ 36,489 $ 41,189 $ 41,895 Qdoba 21,721 20,488 17,687 Total $ 58,210 $ 61,677 $ 59,582 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Restructuring and Related Costs [Table Text Block] | The following is a summary of the costs incurred in connection with these activities during each fiscal year ( in thousands ): 2017 2016 2015 Qdoba Evaluation costs (1) $ 5,285 $ — $ — Facility closing costs (2) 2,052 2,004 — Employee severance and related costs 731 7,583 29 Other (3) 769 480 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) Qdoba Evaluation costs are primarily comprised of legal services, third party consulting and audit fees. (2) In 2017, facility closing costs include $2.0 million in costs related to the exit and early lease termination of the Qdoba corporate support center, which was offset by $0.9 million due to the reversal of the related tenant improvement allowance, and $0.3 million due to the reversal of the related straight-line rent expense. In 2017, facility closing costs also includes $1.2 million of accelerated depreciation related to the relocation of our Qdoba corporate support center. (3) In 2017, other primarily represents employee relocation costs and moving expenses related to the relocation of our Qdoba corporate support center. In 2016, other primarily represents employee relocation costs. The following is a summary of our restructuring costs by operating segment in each fiscal year (in thousands): 2017 2016 2015 Qdoba restaurant operations (1) $ 5,206 $ 1,991 $ — Shared services (2) 3,423 1,764 29 Jack in the Box restaurant operations 208 6,312 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) In 2017, Qdoba restaurant operations includes $2.3 million of Qdoba Evaluation costs. (2) Shared service functions consist primarily of accounting/finance, information technology, human resources, audit services, legal, tax and treasury. In 2017, costs include $3.0 million of Qdoba Evaluation costs. |
Discontinued Operations [Member] | 2013 Qdoba Closures [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | The following table summarizes the results related to the 2013 Qdoba Closures for each fiscal year ( in thousands ): 2017 2016 2015 Unfavorable lease commitment adjustments $ (3,502 ) $ (2,818 ) $ (4,594 ) Ongoing facility related and other costs (172 ) (71 ) (302 ) Brokers commissions (72 ) (58 ) (234 ) Bad debt expense related to subtenants (49 ) (234 ) (366 ) Loss before income tax benefit $ (3,795 ) $ (3,181 ) $ (5,496 ) |
Restructuring and Related Costs [Table Text Block] | Our liability for lease commitments related to the 2013 Qdoba Closures is included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheets and has changed as follows during fiscal 2017 ( in thousands ): Balance at October 2, 2016 $ 2,943 Adjustments (1) 3,502 Cash payments (4,000 ) Balance at October 1, 2017 (2) $ 2,445 ___________________________________________ (1) Adjustments relate to revisions to certain sublease assumptions due to changes in market conditions, as well as charges to terminate seven lease agreements, and includes interest expense. (2) The weighted average remaining lease term related to these commitments is approximately two years. |
Summary Of Refranchisings, Fr31
Summary Of Refranchisings, Franchisee Development And Acquisitions (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Summary Of Refranchisings, Franchisee Development And Acquisitions [Abstract] | |
Number Of Restaurants Sold And Developed By Franchisees And Related Gains And Fees Recognized | The following table summarizes the number of restaurants as of the end of each fiscal year: 2017 2016 2015 Jack in the Box: Company-operated 276 417 413 Franchise 1,975 1,838 1,836 Total system 2,251 2,255 2,249 Qdoba: Company-operated 385 367 322 Franchise 341 332 339 Total system 726 699 661 The following table summarizes the number of restaurants sold to franchisees, the number of restaurants developed by franchisees, and the related fees and gains (losses) recognized in each fiscal year ( dollars in thousands ): 2017 2016 2015 Restaurants sold to Jack in the Box franchisees 178 1 21 New restaurants opened by franchisees: Jack in the Box 18 12 16 Qdoba 19 18 22 Initial franchise fees $ 8,078 $ 955 $ 1,453 Proceeds from the sale of company-operated restaurants (1) $ 99,591 $ 1,439 $ 3,951 Net assets sold (primarily property and equipment) (30,597 ) (195 ) (4,283 ) Lease commitment charges (2) (11,737 ) — (2,542 ) Goodwill related to the sale of company-operated restaurants (10,056 ) (15 ) (47 ) Other (3) (9,167 ) 1 (218 ) Gains (losses) on the sale of company-operated restaurants $ 38,034 $ 1,230 $ (3,139 ) ____________________________ (1) Amounts in 2017 include additional proceeds of $0.2 million related to restaurants sold in a prior year. Amounts in 2016 and 2015 include additional proceeds of $1.4 million and $1.5 million , respectively, related to the extension of the underlying franchise and lease agreements from the sale of restaurants in prior years. (2) Charges are for operating restaurant leases with lease commitments in excess of our sublease rental income. (3) Amounts in 2017 represent impairment of $4.6 million and equipment write-offs of $1.4 million related to restaurants closed in connection with the sale of the related markets, maintenance and repair charges, and other miscellaneous non-capital charges. Amounts in 2015 primarily represent impairment charges related to restaurants closed in connection with the sale of the related markets. |
Business Combination Disclosure [Text Block] | Franchise acquisitions — We acquired fifty , one and seven Jack in the Box franchise restaurants in fiscal 2017 , 2016 and 2015 , respectively. Of the 50 Jack in the Box restaurants acquired in 2017, we took over 31 restaurants as a result of an agreement with an underperforming franchisee who was in violation of franchise and lease agreements with the Company. Under this agreement, the franchisee voluntarily agreed to turn over the restaurants. The acquisition of the additional 19 restaurants in 2017 was the result of a legal action filed in September 2013 against a franchisee, from which legal action we obtained a judgment in January 2017 granting us possession of the restaurants. Of the 50 restaurants acquired in 2017, we sold 18 of the restaurants to franchisees and closed four . We plan to sell the remaining restaurants acquired in 2017 as part of our refranchising strategy. In 2016 , we also acquired 14 Qdoba franchise restaurants. Refer to Note 6, Impairment and Other Charges, Net , for additional information regarding impairment charges related to the restaurants closed subsequent to acquisition. We account for the acquisition of franchised restaurants using the acquisition method of accounting for business combinations. The purchase price allocations were based on fair value estimates determined using significant unobservable inputs (Level 3). The goodwill recorded primarily relates to the sales growth potential of the markets acquired and is expected to be deductible for income tax purposes. The following table provides detail of the combined acquisitions in each fiscal year ( dollars in thousands ): 2017 2016 2015 Restaurants acquired from franchisees 50 15 7 Goodwill $ 13,059 $ 17,034 $ — Property and equipment 2,470 2,954 646 Intangible assets 1,260 91 — Inventory 189 — — Liabilities assumed (1,116 ) (114 ) (613 ) Gains on the acquisition of franchise-operated restaurants — (289 ) (33 ) Other — 140 — Total consideration $ 15,862 $ 19,816 $ — Of the 2017 total consideration, $13.8 million is non-cash consideration and is comprised of $9.9 million of receivables that were eliminated in acquisition accounting and $3.9 million of accounts payable that was recorded in acquisition accounting. The accounts payable recorded is primarily due to third parties to waive their liens and security interests on certain assets acquired. |
Goodwill And Intangible Asset32
Goodwill And Intangible Assets, Net (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes In Carrying Amount Of Goodwill | The changes in the carrying amount of goodwill during fiscal 2017 and 2016 by reportable segment were as follows ( in thousands ): Jack in the Box Qdoba Total Balance at September 27, 2015 $ 48,430 $ 100,597 $ 149,027 Acquisition of franchise-operated restaurants — 17,034 17,034 Sale of company-operated restaurants to franchisees (15 ) — (15 ) Balance at October 2, 2016 48,415 117,631 166,046 Acquisition of franchise-operated restaurants 13,059 — 13,059 Sale of company-operated restaurants to franchisees (10,056 ) — (10,056 ) Balance at October 1, 2017 $ 51,418 $ 117,631 $ 169,049 |
Schedule Of Intangible Assets | Intangible assets, net consist of the following as of the end of each fiscal year ( in thousands ): 2017 2016 Amortized intangible assets: Gross carrying amount $ 17,993 $ 17,205 Less accumulated amortization (12,721 ) (11,963 ) Net carrying amount 5,272 5,242 Non-amortized intangible assets: Trademark 8,800 8,800 Net carrying amount $ 14,072 $ 14,042 |
Estimated Amortization Expense | The following table summarizes, as of October 1, 2017 , the estimated amortization expense for each of the next five fiscal years ( in thousands ): 2018 $ 820 2019 $ 760 2020 $ 723 2021 $ 680 2022 $ 599 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And Liabilities Measured At Fair Value On Recurring Basis | The following table presents the financial assets and liabilities measured at fair value on a recurring basis ( in thousands ): Total Quoted Prices in Active Markets for Identical Assets (3) (Level 1) Significant Other Observable Inputs (3) (Level 2) Significant Unobservable Inputs (3) (Level 3) Fair value measurements as of October 1, 2017: Non-qualified deferred compensation plan (1) $ (37,575 ) $ (37,575 ) $ — $ — Interest rate swaps (Note 6) (2) (22,927 ) — (22,927 ) — Total liabilities at fair value $ (60,502 ) $ (37,575 ) $ (22,927 ) $ — Fair value measurements as of October 2, 2016: Non-qualified deferred compensation plan (1) $ (36,933 ) $ (36,933 ) $ — $ — Interest rate swaps (Note 6) (2) (47,765 ) — (47,765 ) — Total liabilities at fair value $ (84,698 ) $ (36,933 ) $ (47,765 ) $ — ____________________________ (1) We maintain an unfunded defined contribution plan for key executives and other members of management. The fair value of this obligation is based on the closing market prices of the participants’ elected investments. (2) We entered into interest rate swaps to reduce our exposure to rising interest rates on our variable rate debt. The fair values of our interest rate swaps are based upon Level 2 inputs which include valuation models as reported by our counterparties. The key inputs for the valuation models are quoted market prices, discount rates and forward yield curves. (3) We did not have any transfers in or out of Level 1, 2 or 3. |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Derivative Instruments and Hedges, Assets [Abstract] | |
Derivative Instruments Outstanding | The following derivative instruments were outstanding as of the end of each fiscal year ( in thousands ): Balance Sheet Location Fair Value 2017 2016 Derivatives designated as hedging instruments: Interest rate swaps Accrued $ (4,777 ) $ (5,857 ) Interest rate swaps Other long-term liabilities (18,150 ) (41,908 ) Total derivatives (Note 5) $ (22,927 ) $ (47,765 ) |
Gains Or Losses Recognized On Interest Rate Swap Derivative Instrument | The following table summarizes the accumulated OCI activity related to our interest rate swap derivative instruments in each fiscal year ( in thousands ): Location of Loss in Income 2017 2016 2015 Gain (loss) recognized in OCI N/A $ 19,768 $ (25,439 ) $ (26,596 ) Loss reclassified from accumulated OCI into net earnings Interest expense, net $ 5,070 $ 4,048 $ 2,011 |
Indebtedness (Tables)
Indebtedness (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Debt Disclosure [Abstract] | |
Schedule Of Long-Term Debt | The detail of our long-term debt at the end of each fiscal year is as follows ( in thousands ): 2017 2016 Revolver, variable interest rate based on an applicable margin plus LIBOR, 3.34% at October 1, 2017 $ 497,022 $ 282,422 Term loan, variable interest rate based on an applicable margin plus LIBOR, 3.24% at October 1, 2017 639,385 694,141 Capital lease obligations, 3.50% weighted average interest rate at October 1, 2017 11,049 18,523 1,147,456 995,086 Less current maturities of long-term debt, net of $1,502 and $1,639 of term loan debt issuance costs, respectively (64,383 ) (55,935 ) Less term loan debt issuance costs (2,141 ) (3,779 ) $ 1,080,932 $ 935,372 |
Scheduled Principal Payments On Long-Term Debt | Future cash payments — Scheduled principal payments on our long-term debt outstanding at October 1, 2017 for each of the next five fiscal years and thereafter are as follows ( in thousands ): 2018 $ 65,885 2019 1,074,211 2020 1,608 2021 1,655 2022 1,704 Thereafter 2,393 $ 1,147,456 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Leases [Abstract] | |
Components Of Rent Expense | The components of rent expense were as follows in each fiscal year ( in thousands ): 2017 2016 2015 Minimum rentals $ 223,628 $ 222,437 $ 212,722 Contingent rentals 3,126 2,943 2,549 Total rent expense 226,754 225,380 215,271 Less rental expense on subleased properties (145,834 ) (145,173 ) (141,946 ) Net rent expense $ 80,920 $ 80,207 $ 73,325 |
Future Minimum Lease Payments For Capital And Operating Leases | The following table presents as of October 1, 2017 , future minimum lease payments under capital and operating leases, including leases recorded as lease obligations relating to continuing and discontinued operations ( in thousands ): Fiscal Year Capital Leases Operating 2018 $ 2,263 $ 235,424 2019 1,968 212,500 2020 1,865 185,817 2021 1,867 170,119 2022 1,832 126,209 Thereafter 3,045 484,677 Total minimum lease payments 12,840 $ 1,414,746 Less amount representing interest, 3.50% weighted average interest rate (1,791 ) Present value of obligations under capital leases 11,049 Less current portion (2,003 ) Long-term capital lease obligations $ 9,046 |
Assets Recorded Under Capital Leases | Assets recorded under capital leases are included in property and equipment, and consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Buildings $ 7,301 $ 9,716 Equipment 11,909 17,855 Less accumulated amortization (8,952 ) (10,325 ) $ 10,258 $ 17,246 |
Schedule of Rental Income | The following table summarizes rents received under these agreements in each fiscal year ( in thousands ): 2017 2016 2015 Total rental income (1) $ 237,171 $ 238,375 $ 232,264 Contingent rentals $ 33,168 $ 31,632 $ 28,348 |
Minimum Rents Receivable Expected To Be Received Under These Non-Cancelable Operating Leases | The minimum rents receivable expected to be received under these non-cancelable operating leases and subleases, including leases recorded as lease obligations relating to continuing and discontinuing operations, and excluding contingent rentals, as of October 1, 2017 are as follows ( in thousands ): Fiscal Year 2018 $ 204,162 2019 219,358 2020 215,921 2021 229,382 2022 206,554 Thereafter 1,248,289 Total minimum future rent receivable $ 2,323,666 |
Assets Held For Lease | Assets held for lease and included in property and equipment consisted of the following at each fiscal year-end ( in thousands ): 2017 2016 Land $ 88,647 $ 73,527 Buildings 759,003 674,690 Equipment 342 4,382 847,992 752,599 Less accumulated depreciation (540,851 ) (480,600 ) $ 307,141 $ 271,999 |
Impairment, Disposition Of Pr37
Impairment, Disposition Of Property And Equipment, And Restaurant Closing Costs (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Impairment, Disposition Of Property And Equipment, And Restaurant Closing Costs s [Abstract] | |
Impairment And Disposal Costs Included In Impairment And Other Charges | Impairment and other charges, net in the accompanying consolidated statements of earnings is comprised of the following in each fiscal year ( in thousands ): 2017 2016 2015 Restructuring costs $ 8,837 $ 10,067 $ 29 Costs of closed restaurants and other 7,237 3,431 3,592 Losses on disposition of property and equipment, net (1) 3,635 2,801 1,319 Restaurant impairment charges 3,096 544 557 Accelerated depreciation 2,336 2,214 6,260 $ 25,141 $ 19,057 $ 11,757 |
Restructuring and Related Costs [Table Text Block] | The following is a summary of the costs incurred in connection with these activities during each fiscal year ( in thousands ): 2017 2016 2015 Qdoba Evaluation costs (1) $ 5,285 $ — $ — Facility closing costs (2) 2,052 2,004 — Employee severance and related costs 731 7,583 29 Other (3) 769 480 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) Qdoba Evaluation costs are primarily comprised of legal services, third party consulting and audit fees. (2) In 2017, facility closing costs include $2.0 million in costs related to the exit and early lease termination of the Qdoba corporate support center, which was offset by $0.9 million due to the reversal of the related tenant improvement allowance, and $0.3 million due to the reversal of the related straight-line rent expense. In 2017, facility closing costs also includes $1.2 million of accelerated depreciation related to the relocation of our Qdoba corporate support center. (3) In 2017, other primarily represents employee relocation costs and moving expenses related to the relocation of our Qdoba corporate support center. In 2016, other primarily represents employee relocation costs. The following is a summary of our restructuring costs by operating segment in each fiscal year (in thousands): 2017 2016 2015 Qdoba restaurant operations (1) $ 5,206 $ 1,991 $ — Shared services (2) 3,423 1,764 29 Jack in the Box restaurant operations 208 6,312 — $ 8,837 $ 10,067 $ 29 ___________________________________________ (1) In 2017, Qdoba restaurant operations includes $2.3 million of Qdoba Evaluation costs. (2) Shared service functions consist primarily of accounting/finance, information technology, human resources, audit services, legal, tax and treasury. In 2017, costs include $3.0 million of Qdoba Evaluation costs. |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Total accrued severance costs related to our restructuring activities are included in accrued liabilities and changed as follows during fiscal 2017 (in thousands) : Balance as of October 2, 2016 $ 4,198 Additions 731 Cash payments (4,281 ) Balance as of October 1, 2017 $ 648 |
Contract Termination [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | Accrued restaurant closing costs included in accrued liabilities and other long-term liabilities, changed as follows during fiscal 2017 ( in thousands ): Balance as of October 2, 2016 $ 7,231 Interest expense 1,594 Adjustments (1) 959 Additions 549 Cash payments (4,130 ) Balance as of October 1, 2017 (2) (3) $ 6,203 ___________________________________________ (1) Adjustments relate primarily to revisions of certain sublease and cost assumptions. Our estimates related to our future lease obligations, primarily the sublease income we anticipate, are subject to a high degree of judgment and may differ from actual sublease income due to changes in economic conditions, desirability of the sites and other factors. (2) The weighted average remaining lease term related to these commitments is approximately four years. (3) This balance excludes $2.9 million of restaurant closing costs that are included in accrued liabilities and other long-term liabilities, which were initially recorded as losses on the sale of company-operated restaurants upon sale to Jack in the Box franchisees in prior years. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Income Tax Disclosure [Abstract] | |
Components Of Income Taxes | Income taxes consist of the following in each fiscal year ( in thousands ): 2017 2016 2015 Current: Federal $ 80,787 $ 32,276 $ 59,362 State 12,736 5,315 9,598 93,523 37,591 68,960 Deferred: Federal (9,816 ) 29,975 (2,018 ) State (2,392 ) 4,998 (1,173 ) (12,208 ) 34,973 (3,191 ) Income tax expense from continuing operations $ 81,315 $ 72,564 $ 65,769 Income tax benefit from discontinued operations $ (1,868 ) $ (1,365 ) $ (2,410 ) |
Reconciliation Of The Federal Statutory Income Tax Rate To Effective Tax Rate | A reconciliation of the federal statutory income tax rate to our effective tax rate for continuing operations is as follows: 2017 2016 2015 Computed at federal statutory rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal tax benefit 3.8 3.7 3.7 Benefit of jobs tax credits, net of valuation allowance (0.4 ) (1.0 ) (1.1 ) (Benefit) expense related to COLIs (1.0 ) (1.3 ) 0.3 Other, net (0.4 ) 0.1 (1.0 ) 37.0 % 36.5 % 36.9 % |
Deferred Tax Assets And Deferred Tax Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities at each fiscal year-end are presented below ( in thousands ): 2017 2016 Deferred tax assets: Accrued defined benefit pension and postretirement benefits $ 67,471 $ 89,253 Impairment 23,986 21,904 Accrued insurance 14,708 14,378 Tax loss and tax credit carryforwards 11,860 13,624 Lease commitments related to closed or refranchised locations 10,337 7,440 Share-based compensation 9,715 9,091 Interest rate swaps 8,855 18,483 Leasing transactions 7,532 11,144 Other reserves and allowances 2,843 1,935 Deferred income 1,898 1,887 Accrued vacation pay expense 1,835 2,137 Accrued incentive compensation 1,021 5,536 Other, net 5,185 3,876 Total gross deferred tax assets 167,246 200,688 Valuation allowance (8,507 ) (11,365 ) Total net deferred tax assets 158,739 189,323 Deferred tax liabilities: Intangible assets (33,448 ) (31,827 ) Property and equipment, principally due to differences in depreciation (25,077 ) (38,859 ) Other (1,519 ) (1,050 ) Total gross deferred tax liabilities (60,044 ) (71,736 ) Net deferred tax assets $ 98,695 $ 117,587 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Reconciliation Of The Changes In Benefit Obligations, Plan Assets And Funded Status Of Retirement Plans | The following table provides a reconciliation of the changes in benefit obligations, plan assets and funded status of our retirement plans for each fiscal year ( in thousands ): Qualified Plan SERP Postretirement Health Plans 2017 2016 2017 2016 2017 2016 Change in benefit obligation: Obligation at beginning of year $ 522,459 $ 442,264 $ 81,450 $ 75,346 $ 28,214 $ 28,911 Service cost 1,331 4,479 855 773 — — Interest cost 19,889 20,926 2,850 3,253 1,003 1,263 Participant contributions — — — — 118 127 Actuarial (gain) loss (20,081 ) 75,456 (2,296 ) 6,938 (2,652 ) (768 ) Benefits paid (10,425 ) (9,791 ) (4,458 ) (4,860 ) (1,168 ) (1,161 ) Settlements (19,406 ) (10,875 ) — — — — Other — — — — 145 (158 ) Obligation at end of year $ 493,767 $ 522,459 $ 78,401 $ 81,450 $ 25,660 $ 28,214 Change in plan assets: Fair value at beginning of year $ 438,402 $ 332,657 $ — $ — $ — $ — Actual return on plan assets 52,138 31,411 — — — — Participant contributions — — — — 118 127 Employer contributions — 95,000 4,458 4,860 905 1,192 Benefits paid (10,425 ) (9,791 ) (4,458 ) (4,860 ) (1,168 ) (1,161 ) Settlements (19,406 ) (10,875 ) — — — — Other — — — — 145 (158 ) Fair value at end of year $ 460,709 $ 438,402 $ — $ — $ — $ — Funded status at end of year $ (33,058 ) $ (84,057 ) $ (78,401 ) $ (81,450 ) $ (25,660 ) $ (28,214 ) Amounts recognized on the balance sheet: Current liabilities $ — $ — $ (4,448 ) $ (4,504 ) $ (1,308 ) $ (1,325 ) Noncurrent liabilities (33,058 ) (84,057 ) (73,953 ) (76,946 ) (24,352 ) (26,889 ) Total liability recognized $ (33,058 ) $ (84,057 ) $ (78,401 ) $ (81,450 ) $ (25,660 ) $ (28,214 ) Amounts in AOCI not yet reflected in net periodic benefit cost: Unamortized actuarial loss (gain), net $ 167,598 $ 216,129 $ 33,462 $ 37,417 $ (574 ) $ 2,239 Unamortized prior service cost — — 418 571 — — Total $ 167,598 $ 216,129 $ 33,880 $ 37,988 $ (574 ) $ 2,239 Other changes in plan assets and benefit obligations recognized in OCI: Net actuarial (gain) loss $ (44,077 ) $ 65,801 $ (2,296 ) $ 6,938 $ (2,652 ) $ (768 ) Amortization of actuarial loss (4,455 ) (2,828 ) (1,659 ) (1,259 ) (162 ) (219 ) Amortization of prior service cost — — (153 ) (240 ) — — Total recognized in OCI (48,532 ) 62,973 (4,108 ) 5,439 (2,814 ) (987 ) Net periodic benefit (credit) cost and other losses (2,467 ) 6,477 5,517 5,525 1,165 1,482 Total recognized in comprehensive income $ (50,999 ) $ 69,450 $ 1,409 $ 10,964 $ (1,649 ) $ 495 Amounts in AOCI expected to be amortized in fiscal 2018 net periodic benefit cost: Net actuarial loss (gain) $ 3,330 $ 1,538 $ (27 ) Prior service cost — 146 — Total $ 3,330 $ 1,684 $ (27 ) The fair values of the Qualified Plan’s assets by asset category are as follows ( in thousands ): Total Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Items Measured at Fair Value at September 30, 2017: Asset Category: Cash and cash equivalents (1 ) $ 3,245 $ — $ 3,245 $ — Equity: U.S (2 ) 108,241 108,241 — — International (3), (4) 121,130 52,013 — — Fixed income: Investment grade (5 ) 133,737 — 133,737 — High yield (6 ) 19,889 19,889 — — Alternatives (4),(7) 38,933 — — — Real estate (4),(8) 35,534 — — — $ 460,709 $ 180,143 $ 136,982 $ — Items Measured at Fair Value at September 30, 2016: Asset Category: Cash and cash equivalents (1 ) $ 5,479 $ — $ 5,479 $ — Equity: U.S (2 ) 101,174 101,174 — — International (3), (4) 121,884 61,097 — — Fixed income: Investment grade (5 ) 120,439 — 120,439 — High yield (6 ) 24,638 24,638 — — Alternatives (7 ) 24,642 24,642 — — Real estate (4),(8) 40,146 — — — $ 438,402 $ 211,551 $ 125,918 $ — _________________________ (1) Cash and cash equivalents are comprised of commercial paper, short-term bills and notes, and short-term investment funds, which are valued at quoted prices in active markets for similar securities. (2) U.S. equity securities are comprised of investments in common stock of U.S. companies for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date. (3) International equity securities are comprised of investments in common stock of companies located outside of the U.S for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date, or the values are adjusted as a result of market movements following the close of local trading using inputs to models that are observable either directly or indirectly. The portion of these investments that are measured at fair value using the net asset value per share practical expedient (see note 4 below) can be redeemed on a monthly basis. (4) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (5) Investment grade fixed income consists of debt obligations either issued by the US government or have a rating of BBB- / Baa or higher assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices (Level 1), or based on quoted prices in inactive markets, or whose values are based on models, but the inputs to those models are observable either directly or indirectly (Level 2). (6) High yield fixed income consists primarily of debt obligations that have a rating of below BBB- / Baa or lower assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices. (7) Alternative investments consists primarily of an investment in asset classes other than stocks, bonds, and cash. Alternative investments can include commodities, hedge funds, private equity, managed futures, and derivatives. These investments are valued based on unadjusted quoted market prices and can be redeemed on a bi-monthly basis. (8) Real estate is investments in a real estate collective trust for purposes of total return. These investments are valued based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These investments can be redeemed on a quarterly basis. |
Fair Value Of Plan Assets Of Pension Plans | The following sets forth the PBO, ABO and fair value of plan assets of our pension plans as of the measurement date in each fiscal year ( in thousands ): 2017 2016 Qualified Plan: Projected benefit obligation $ 493,767 $ 522,459 Accumulated benefit obligation $ 493,767 $ 522,459 Fair value of plan assets $ 460,709 $ 438,402 SERP: Projected benefit obligation $ 78,401 $ 81,450 Accumulated benefit obligation $ 78,401 $ 80,815 Fair value of plan assets $ — $ — |
Components Of Net Periodic Benefit Cost | The components of the fiscal year net periodic benefit cost were as follows ( in thousands ): 2017 2016 2015 Qualified Plan: Service cost $ 1,331 $ 4,479 $ 7,592 Interest cost 19,889 20,926 19,750 Expected return on plan assets (28,142 ) (21,756 ) (23,273 ) Actuarial loss 4,455 2,828 8,278 Net periodic benefit (credit) cost $ (2,467 ) $ 6,477 $ 12,347 SERP: Service cost $ 855 $ 773 $ 676 Interest cost 2,850 3,253 2,945 Actuarial loss 1,659 1,259 1,134 Amortization of unrecognized prior service cost 153 240 269 Net periodic benefit cost $ 5,517 $ 5,525 $ 5,024 Postretirement health plans: Interest cost $ 1,003 $ 1,263 $ 1,196 Actuarial loss 162 219 182 Net periodic benefit cost $ 1,165 $ 1,482 $ 1,378 |
Determining The Present Values Of Benefit Obligations And Net Periodic Benefit Costs | In determining the present values of our benefit obligations and net periodic benefit costs as of and for the fiscal years ended October 1, 2017 , October 2, 2016 and September 27, 2015 , we used the following weighted-average assumptions: 2017 2016 2015 Assumptions used to determine benefit obligations (1): Qualified Plan: Discount rate 3.99 % 3.85 % 4.79 % Rate of future pay increases — % — % 3.50 % SERP: Discount rate 3.80 % 3.60 % 4.45 % Rate of future pay increases 3.50 % 3.50 % 3.50 % Postretirement health plans: Discount rate 3.82 % 3.64 % 4.47 % Assumptions used to determine net periodic benefit cost (2): Qualified Plan: Discount rate 3.85 % 4.79 % 4.60 % Long-term rate of return on assets 6.50 % 6.50 % 6.50 % Rate of future pay increases — % 3.50 % 3.50 % SERP: Discount rate 3.60 % 4.45 % 4.36 % Rate of future pay increases 3.50 % 3.50 % 3.50 % Postretirement health plans: Discount rate 3.64 % 4.47 % 4.43 % ____________________________ (1) Determined as of end of year. (2) Determined as of beginning of year. |
Health Care Cost Trend Rates For Postretirement Health Plans | For measurement purposes, the weighted-average assumed health care cost trend rates for our postretirement health plans were as follows for each fiscal year: 2017 2016 2015 Healthcare cost trend rate for next year: Participants under age 65 7.50 % 7.75 % 8.00 % Participants age 65 or older 7.00 % 7.25 % 7.50 % Rate to which the cost trend rate is assumed to decline: Participants under age 65 4.50 % 4.50 % 4.50 % Participants age 65 or older 4.50 % 4.50 % 4.50 % Year the rate reaches the ultimate trend rate: Participants under age 65 2030 2030 2030 Participants age 65 or older 2028 2028 2028 |
Effect Of Change In The Assumed Health Care Cost Trend Rate | For example, a 1.0% change in the assumed healthcare cost trend rate would have the following effect on the fiscal 2017 net periodic benefit cost and end of year PBO ( in thousands ): 1% Point Increase 1% Point Decrease Total interest and service cost $ 123 $ (105 ) Postretirement benefit obligation $ 2,892 $ (2,482 ) |
Fair Values Of The Qualified Plan's Assets | Our plan asset allocation at the end of fiscal 2017 and target allocations were as follows: 2017 Target Minimum Maximum Cash and cash equivalents 1 % — % — % — % Domestic equity 23 25 15 % 35 % International equity 26 25 15 % 35 % Core fixed funds 29 25 20 % 30 % High yield 4 5 — % 10 % Alternative investments 9 9 4 % 14 % Real estate 8 8 3 % 13 % Real return bonds — 3 — % 6 % 100 % 100 % |
Contributions Expected To Be Paid In The Next Fiscal Year And The Projected Benefit Payments | Contributions expected to be paid in the next fiscal year, the projected benefit payments for each of the next five fiscal years, and the total aggregate amount for the subsequent five fiscal years are as follows ( in thousands ): Defined Benefit Pension Plans Postretirement Health Plans Estimated net contributions during fiscal 2018 $ 4,448 $ 1,333 Estimated future year benefit payments during fiscal years: 2018 $ 15,889 $ 1,333 2019 $ 16,454 $ 1,391 2020 $ 17,315 $ 1,440 2021 $ 18,046 $ 1,534 2022 $ 18,969 $ 1,579 2023-2027 $ 115,960 $ 8,194 |
Share-Based Employee Compensa40
Share-Based Employee Compensation (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Share-based Compensation [Abstract] | |
Components Of Share-Based Compensation Expense | The components of share-based compensation expense recognized in each fiscal year are as follows ( in thousands ): 2017 2016 2015 Nonvested stock units $ 6,470 $ 5,520 $ 4,989 Performance share awards 2,674 3,068 4,229 Stock options 1,914 2,509 2,782 Nonvested restricted stock awards 88 88 156 Non-management directors’ deferred compensation 270 270 264 Total share-based compensation expense $ 11,416 $ 11,455 $ 12,420 |
Summary Of RSU Activity | The following is a summary of RSU activity for fiscal 2017 : Shares Weighted- Average Grant Date Fair Value RSUs outstanding at October 2, 2016 328,905 $ 54.05 Granted 65,947 $ 102.42 Released (75,604 ) $ 58.47 Forfeited (15,016 ) $ 80.57 RSUs outstanding at October 1, 2017 304,232 $ 62.14 |
Summary Of PSU Activity | The following is a summary of performance share award activity for fiscal 2017 : Shares Weighted- Average Grant Date Fair Value Performance share awards outstanding at October 2, 2016 117,619 $ 62.13 Granted 24,599 $ 95.33 Issued (55,022 ) $ 65.36 Forfeited (1,539 ) $ 84.04 Performance adjustments 6,478 $ 78.27 Performance share awards outstanding at October 1, 2017 92,135 $ 78.67 |
Summary Of Stock Option Activity | The following is a summary of stock option activity for fiscal 2017 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Options outstanding at October 2, 2016 338,457 $ 61.73 Granted 89,792 $ 104.95 Exercised (114,333 ) $ 45.18 Forfeited (1,557 ) $ 73.53 Options outstanding at October 1, 2017 312,359 $ 80.15 4.91 $ 7,072 Options exercisable at October 1, 2017 124,824 $ 66.64 4.11 $ 4,404 Options exercisable and expected to vest at October 1, 2017 312,359 $ 80.15 4.91 $ 7,072 |
Schedule Of Weighted-Average Assumptions | The following table presents the weighted-average assumptions used for stock option grants in each fiscal year, along with the related weighted-average grant date fair value: 2017 2016 2015 Risk-free interest rate 1.37 % 1.66 % 1.78 % Expected dividends yield 1.52 % 1.59 % 1.09 % Expected stock price volatility 28.98 % 26.68 % 32.09 % Expected life of options (in years) 3.50 4.90 6.00 Weighted-average grant date fair value $ 20.92 $ 16.21 $ 22.04 |
Summary Of Stock Equivalent Activity | The following is a summary of the stock equivalent activity for fiscal 2017 : Stock Equivalents Weighted- Average Grant Date Fair Value Stock equivalents outstanding at October 2, 2016 84,364 $ 29.43 Deferred directors’ compensation 2,632 $ 102.58 Dividend equivalents 1,519 $ 101.94 Stock equivalents outstanding at October 1, 2017 88,515 $ 32.85 |
Average Shares Outstanding (Tab
Average Shares Outstanding (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | |
Reconciliation Of Basic Weighted-Average Shares Outstanding To Diluted Weighted-Average Shares Outstanding | The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding in each fiscal year ( in thousands ): 2017 2016 2015 Weighted-average shares outstanding — basic 30,630 33,735 37,587 Effect of potentially dilutive securities: Nonvested stock awards and units 182 188 199 Stock options 59 150 274 Performance share awards 43 73 155 Weighted-average shares outstanding — diluted 30,914 34,146 38,215 Excluded from diluted weighted-average shares outstanding: Antidilutive 76 147 84 Performance conditions not satisfied at the end of the period 53 38 15 |
Commitments, Contingencies An42
Commitments, Contingencies And Legal Matters (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecorded Unconditional Purchase Obligations Disclosure | As of October 1, 2017 , we had unconditional purchase obligations during the next five fiscal years as follows ( in thousands ): 2018 $ 880,800 2019 499,200 2020 386,200 2021 380,100 2022 261,300 Total $ 2,407,600 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Segment Reporting [Abstract] | |
Summarized Financial Information Of Reportable Segments | 2017 2016 2015 Revenues by segment: Jack in the Box restaurant operations $ 1,097,291 $ 1,162,258 $ 1,145,176 Qdoba restaurant operations 456,623 437,073 395,141 Consolidated revenues $ 1,553,914 $ 1,599,331 $ 1,540,317 Earnings from operations by segment: Jack in the Box restaurant operations $ 280,097 $ 290,346 $ 265,230 Qdoba restaurant operations 31,031 47,250 47,264 Shared services and unallocated costs (83,021 ) (108,911 ) (112,182 ) Gains (losses) on the sale of company-operated restaurants 38,034 1,230 (3,139 ) Consolidated earnings from operations 266,141 229,915 197,173 Interest expense, net 46,518 31,081 18,803 Consolidated earnings from continuing operations and before income taxes $ 219,623 $ 198,834 $ 178,370 Total expenditures for long-lived assets by segment: Jack in the Box restaurant operations $ 29,426 $ 38,607 $ 41,928 Qdoba restaurant operations 34,163 53,316 34,071 Shared services and unallocated costs 3,864 4,692 10,227 Consolidated expenditures for long-lived assets $ 67,453 $ 96,615 $ 86,226 Total depreciation expense by segment: Jack in the Box restaurant operations $ 60,595 $ 66,287 $ 64,597 Qdoba restaurant operations 20,854 19,306 17,103 Shared services and unallocated costs 6,761 6,489 7,078 Consolidated depreciation expense $ 88,210 $ 92,082 $ 88,778 |
Supplemental Consolidated Cas44
Supplemental Consolidated Cash Flow Information (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Supplemental Cash Flow Information [Abstract] | |
Additional Information Related To Cash Flows | 2017 2016 2015 Cash paid during the year for: Income tax payments $ 92,721 $ 33,454 $ 28,764 Interest, net of amounts capitalized $ 42,893 $ 28,576 $ 16,233 (Decrease) increase in obligations for purchases of property and equipment $ (1,848 ) $ (3,122 ) $ 5,388 (Decrease) increase in obligations for treasury stock repurchases $ (7,208 ) $ 7,208 $ (3,112 ) Non cash transactions: Consideration for franchise acquisitions $ 13,809 $ — $ — Decrease in equipment capital lease obligations from the sale of company-operated restaurants $ 5,631 $ — $ — Equipment capital lease obligations incurred $ 1,364 $ 1,124 $ 16,770 Increase in dividends accrued or converted to common stock equivalents $ 308 $ 176 $ 174 |
Supplemental Consolidated Fin45
Supplemental Consolidated Financial Statement Information (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Supplemental Consolidated Financial Statement Information [Abstract] | |
Schedule Of Supplemental Consolidated Balance Sheet Information | October 1, October 2, Accounts and other receivables, net: Trade $ 64,576 $ 66,837 Notes receivable 1,276 1,603 Other 7,403 7,680 Allowance for doubtful accounts (4,561 ) (2,760 ) $ 68,694 $ 73,360 Prepaid expenses: Prepaid income taxes $ 18,185 $ 12,113 Prepaid rent — 18,613 Other 10,963 9,672 $ 29,148 $ 40,398 Other assets, net: Company-owned life insurance policies $ 110,057 $ 105,957 Deferred tax assets 98,695 117,587 Deferred rent receivable 47,033 47,485 Other 17,247 19,440 $ 273,032 $ 290,469 Accrued liabilities: Insurance $ 39,031 $ 38,368 Payroll and related taxes 26,249 44,627 Advertising 20,112 21,827 Deferred rent income 17,918 15,909 Sales and property taxes 9,695 14,311 Gift card liability 5,052 5,183 Deferred franchise fees 1,199 929 Other 41,049 40,096 $ 160,305 $ 181,250 Other long-term liabilities: Defined benefit pension plans $ 107,011 $ 161,003 Straight-line rent accrual 47,096 47,070 Other 119,424 140,852 $ 273,531 $ 348,925 |
Unaudited Quarterly Results O46
Unaudited Quarterly Results Of Operations (Tables) | 12 Months Ended |
Oct. 01, 2017 | |
Selected Quarterly Financial Information [Abstract] | |
Quarterly Results Of Operations | 16 Weeks Ended 12 Weeks Ended Fiscal Year 2017 January 22, April 16, July 9, October 1, Revenues $ 487,933 $ 369,389 $ 357,846 $ 338,746 Earnings from operations $ 73,117 $ 65,650 $ 66,981 $ 60,393 Net earnings $ 35,929 $ 33,094 $ 36,351 $ 29,958 Net earnings per share: Basic $ 1.12 $ 1.07 $ 1.23 $ 1.02 Diluted $ 1.11 $ 1.06 $ 1.22 $ 1.01 16 Weeks 12 Weeks Ended 13 Weeks Ended Fiscal Year 2016 January 17, April 10, July 3, October 2, Revenues $ 470,823 $ 361,151 $ 368,938 $ 398,419 Earnings from operations $ 62,514 $ 52,786 $ 55,705 $ 58,910 Net earnings $ 33,221 $ 28,682 $ 30,189 $ 31,981 Net earnings per share: Basic $ 0.94 $ 0.85 $ 0.92 $ 0.98 Diluted $ 0.92 $ 0.84 $ 0.91 $ 0.97 |
Nature Of Operations And Summ47
Nature Of Operations And Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($)restaurant | Sep. 27, 2015USD ($)restaurant | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Assets held for sale and leaseback | $ 15,792 | $ 14,259 | |
Assets Held-for-sale, Not Part of Disposal Group, Other | 8,315 | 0 | |
Assets Held-for-sale, Not Part of Disposal Group, Current | 24,107 | 14,259 | |
Depreciation | 88,210 | 92,082 | $ 88,778 |
Revenue recognized on unredeemed gift cards | 1,200 | 1,000 | $ 1,000 |
General liability and workers' comp estimated claims to be paid by insurance providers | $ 3,900 | $ 8,600 | |
Fiscal Year | 52 | 53 | 52 |
Franchise rental agreement period | P20Y | ||
Excess Tax Benefit from Share-based Compensation, Financing Activities | $ 4,232 | $ 7,461 | $ 18,602 |
Defined Benefit Plan, Net Periodic Benefit Cost Excluding Service Cost | 2,000 | 8,200 | |
Other Assets [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Cash Surrender Value of Life Insurance | 110,100 | 106,000 | |
Current Maturities of Long-Term Debt [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Unamortized Debt Issuance Expense | $ 1,502 | 1,639 | |
Long-Term Debt, Net of Current Maturities [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Unamortized Debt Issuance Expense | 2,200 | ||
Term Loan [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Unamortized Debt Issuance Expense | $ 3,800 | ||
Minimum [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment assigned lives | 1 year | ||
Maximum [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Property, plant and equipment assigned lives | 35 years | ||
Jack in the box brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | restaurant | 2,251 | 2,255 | 2,249 |
Marketing funds including contractual contributions | 5.00% | 5.00% | 5.00% |
Qdoba brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | restaurant | 726 | 699 | 661 |
Marketing funds including contractual contributions | 1.30% | 2.00% | 2.00% |
Nature Of Operations And Summ48
Nature Of Operations And Summary Of Significant Accounting Policies (Summary Of Number Of Restaurants) (Details) - restaurant | Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 |
Jack in the box brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 2,251 | 2,255 | 2,249 |
Qdoba brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 726 | 699 | 661 |
Entity Operated Units [Member] | Jack in the box brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 276 | 417 | 413 |
Entity Operated Units [Member] | Qdoba brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 385 | 367 | 322 |
Franchised Units [Member] | Jack in the box brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 1,975 | 1,838 | 1,836 |
Franchised Units [Member] | Qdoba brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Number of Restaurants | 341 | 332 | 339 |
Nature Of Operations And Summ49
Nature Of Operations And Summary Of Significant Accounting Policies (Summary Of Advertising Costs) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Marketing and Advertising Expense | $ 58,210 | $ 61,677 | $ 59,582 |
Jack in the box brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Contractual Contributions Towards Advertising Costs Percentage Of Sales | 5.00% | 5.00% | 5.00% |
Marketing and Advertising Expense | $ 36,489 | $ 41,189 | $ 41,895 |
Qdoba brand restaurant operations [Member] | |||
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||
Contractual Contributions Towards Advertising Costs Percentage Of Sales | 1.30% | 2.00% | 2.00% |
Marketing and Advertising Expense | $ 21,721 | $ 20,488 | $ 17,687 |
Discontinued Operations (Detail
Discontinued Operations (Details) - Discontinued Operations [Member] $ in Thousands | 12 Months Ended | ||||
Oct. 01, 2017USD ($)centerrestaurant | Oct. 02, 2016USD ($) | Sep. 27, 2015USD ($) | |||
Discontinued Operation - Distribution Business [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Number of Distribution Centers | center | 1 | ||||
2013 Qdoba Closures [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Number of Restaurants | restaurant | 62 | ||||
Disposal Group, Including Discontinued Operation, Future Lease Commitments Net of Straightline Rent and Tenant Improvement Reversals | $ (3,502) | $ (2,818) | $ (4,594) | ||
Disposal Group, Including Discontinued Operation, Other Expense | (172) | (71) | (302) | ||
Disposal group, Including Discontinued Operations, Brokerage Commissions | (72) | (58) | (234) | ||
Provision for Doubtful Accounts | (49) | (234) | (366) | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | (3,795) | (3,181) | $ (5,496) | ||
Restructuring Reserve | 2,445 | [1] | $ 2,943 | ||
Restructuring Reserve, Accrual Adjustment | [2] | 3,502 | |||
Cash paid to settle restructuring reserve | $ (4,000) | ||||
Number of Terminated Lease Agreements | 7 | ||||
Locations Subleased at a Loss | 5 | ||||
Locations Marketed for Sublease | 10 | ||||
2013 Qdoba Closures [Member] | Weighted Average [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
RemainingLeaseCommitmentTerm | 2 years | ||||
[1] | The weighted average remaining lease term related to these commitments is approximately two years. | ||||
[2] | Adjustments relate to revisions to certain sublease assumptions due to changes in market conditions, as well as charges to terminate seven lease agreements, and includes interest expense. |
Summary Of Refranchisings, Fr51
Summary Of Refranchisings, Franchisee Development And Acquisitions (Number Of Restaurants Sold And Developed By Franchisees And Related Gains And Fees Recognized) (Details) $ in Thousands | 4 Months Ended | 12 Months Ended | |||
Jan. 21, 2018USD ($) | Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($)restaurant | Sep. 27, 2015USD ($)restaurant | ||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Initial franchise fees | $ 8,078 | $ 955 | $ 1,453 | ||
Proceeds from the sale of company-operated restaurants (1) | 99,591 | 1,439 | 3,951 | ||
Operating Leases, Rent Expense, Sublease Rentals | 145,834 | 145,173 | 141,946 | ||
Goodwill related to the sale of company-operated restaurants | (10,056) | (15) | |||
Gains (losses) on the sale of company-operated restaurants | $ 38,034 | $ 1,230 | $ (3,139) | ||
Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Significant Changes, Franchises Sold | restaurant | 178 | 1 | 21 | ||
New restaurants opened by franchisees (restaurants) | restaurant | 18 | 12 | 16 | ||
Proceeds from the sale of company-operated restaurants (1) | [1] | $ 99,591 | $ 1,439 | $ 3,951 | |
Net assets sold (primarily property and equipment) | (30,597) | (195) | (4,283) | ||
Goodwill related to the sale of company-operated restaurants | (10,056) | (15) | (47) | ||
Other | [2] | (9,167) | 1 | (218) | |
Proceeds from extension of franchise and lease agreements | $ 200 | $ 1,400 | $ 1,500 | ||
Number of Restaurants Closed | restaurant | 4 | ||||
Number of Restaurants | restaurant | 2,251 | 2,255 | 2,249 | ||
Qdoba brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
New restaurants opened by franchisees (restaurants) | restaurant | 19 | 18 | 22 | ||
Goodwill related to the sale of company-operated restaurants | $ 0 | $ 0 | |||
Number of Restaurants | restaurant | 726 | 699 | 661 | ||
Subtotal of gains (losses) on sale of company-operated restaurants [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Gains (losses) on the sale of company-operated restaurants | $ 38,034 | $ 1,230 | $ (3,139) | ||
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Operating Leases, Rent Expense, Sublease Rentals | [3] | 11,737 | $ 0 | $ 2,542 | |
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Sale of related markets [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | (4,600) | ||||
Impairment of Long-Lived Assets to be Disposed of | $ 1,400 | ||||
Equipment [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Number of Restaurants | restaurant | 11 | ||||
Equipment [Member] | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Assets Held-for-sale, Not Part of Disposal Group | $ 900 | ||||
Minimum [Member] | Scenario, Forecast [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Proceeds from Sale of Franchisees | $ 5,000 | ||||
Maximum [Member] | Scenario, Forecast [Member] | Jack in the box brand restaurant operations [Member] | |||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | |||||
Proceeds from Sale of Franchisees | $ 6,000 | ||||
[1] | (1)Amounts in 2017 include additional proceeds of $0.2 million related to restaurants sold in a prior year. Amounts in 2016 and 2015 include additional proceeds of $1.4 million and $1.5 million, respectively, related to the extension of the underlying franchise and lease agreements from the sale of restaurants in prior years. | ||||
[2] | (3)Amounts in 2017 represent impairment of $4.6 million and equipment write-offs of $1.4 million related to restaurants closed in connection with the sale of the related markets, maintenance and repair charges, and other miscellaneous non-capital charges. Amounts in 2015 primarily represent impairment charges related to restaurants closed in connection with the sale of the related markets. | ||||
[3] | (2)Charges are for operating restaurant leases with lease commitments in excess of our sublease rental income. |
Summary Of Refranchisings, Fr52
Summary Of Refranchisings, Franchisee Development And Acquisitions (Purchase Price Allocations On Franchise Acquisitions) (Details) $ in Thousands | 4 Months Ended | 12 Months Ended | ||
Jan. 21, 2018USD ($) | Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($)restaurant | Sep. 27, 2015USD ($)restaurant | |
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | ||||
Restaurants acquired from franchisees (restaurants) | restaurant | 15 | |||
Goodwill, Acquired During Period | $ 13,059 | $ 17,034 | ||
Property and equipment | 2,954 | |||
Noncash or Part Noncash Acquisition, Intangible Assets Acquired | 91 | |||
Noncash or Part Noncash Acquisition, Inventory Acquired | 0 | |||
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed | (114) | |||
Business Combination, Bargain Purchase, Gain Recognized, Amount | (289) | |||
Other | 140 | |||
Business Combination, Consideration Transferred | $ 19,816 | |||
Jack in the box brand restaurant operations [Member] | ||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | ||||
Restaurants acquired from franchisees (restaurants) | restaurant | 50 | 1 | 7 | |
Goodwill, Acquired During Period | $ 13,059 | $ 0 | $ 0 | |
Property and equipment | 2,470 | 646 | ||
Noncash or Part Noncash Acquisition, Intangible Assets Acquired | 1,260 | 0 | ||
Noncash or Part Noncash Acquisition, Inventory Acquired | 189 | 0 | ||
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed | (1,116) | (613) | ||
Business Combination, Bargain Purchase, Gain Recognized, Amount | $ 0 | (33) | ||
Other | 0 | 0 | ||
Business Combination, Consideration Transferred | 15,862 | $ 0 | ||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | 13,800 | |||
Noncash or Part Noncash Acquisition, Payables Assumed | 3,900 | |||
Jack in the box brand restaurant operations [Member] | Accounts Receivable [Member] | ||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | ||||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | 9,900 | |||
Qdoba brand restaurant operations [Member] | ||||
Summary Of Refranchisings, Franchisee Development And Acquisitions [Line Items] | ||||
Restaurants acquired from franchisees (restaurants) | restaurant | 14 | |||
Goodwill, Acquired During Period | $ 0 | $ 17,034 |
Goodwill And Intangible Asset53
Goodwill And Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Weighted-average life of the amortized intangible assets (in years) | 24 years | ||
Total amortization expense | $ 0.8 | $ 0.8 | $ 0.8 |
Goodwill And Intangible Asset54
Goodwill And Intangible Assets, Net (Changes In Carrying Amount Of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | $ 166,046 | $ 149,027 | |
Acquisition of franchised restaurants | 13,059 | 17,034 | |
Sale of company-operated restaurants to franchisees | (10,056) | (15) | |
Goodwill, ending balance | 169,049 | 166,046 | $ 149,027 |
Jack in the box brand restaurant operations [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | 48,415 | 48,430 | |
Acquisition of franchised restaurants | 13,059 | 0 | 0 |
Sale of company-operated restaurants to franchisees | (10,056) | (15) | (47) |
Goodwill, ending balance | 51,418 | 48,415 | 48,430 |
Qdoba brand restaurant operations [Member] | |||
Goodwill [Roll Forward] | |||
Goodwill, beginning balance | 117,631 | 100,597 | |
Acquisition of franchised restaurants | 0 | 17,034 | |
Sale of company-operated restaurants to franchisees | 0 | 0 | |
Goodwill, ending balance | $ 117,631 | $ 117,631 | $ 100,597 |
Goodwill And Intangible Asset55
Goodwill And Intangible Assets, Net (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Gross carrying amount | $ 17,993 | $ 17,205 | |
Less accumulated amortization | (12,721) | (11,963) | |
Amortized intangible assets: Net carrying amount | 5,272 | 5,242 | |
Trademark | 8,800 | 8,800 | |
Net carrying amount | $ 14,072 | 14,042 | |
Finite-Lived Intangible Asset, Useful Life | 24 years | ||
Amortization of Intangible Assets | $ 800 | $ 800 | $ 800 |
Goodwill And Intangible Asset56
Goodwill And Intangible Assets, Net (Estimated Amortization Expense) (Details) $ in Thousands | Oct. 01, 2017USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,018 | $ 820 |
2,019 | 760 |
2,020 | 723 |
2,021 | 680 |
2,022 | $ 599 |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On Recurring Basis) (Details) | 9 Months Ended | 12 Months Ended | |||
Jul. 09, 2017USD ($) | Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($)restaurant | Sep. 27, 2015USD ($)restaurant | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | $ (60,502,000) | $ (84,698,000) | |||
Asset Impairment Charges | $ 3,096,000 | $ 544,000 | $ 557,000 | ||
Qdoba brand restaurant operations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Number of Restaurants | restaurant | 726 | 699 | 661 | ||
Asset Impairment Charges | $ 700,000 | ||||
Jack in the box brand restaurant operations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Number of Restaurants | restaurant | 2,251 | 2,255 | 2,249 | ||
Number of Restaurants Closed | restaurant | 4 | ||||
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1] | $ (37,575,000) | $ (36,933,000) | ||
Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1] | (22,927,000) | (47,765,000) | ||
Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1] | 0 | 0 | ||
Interest Rate Swaps [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [2] | (22,927,000) | (47,765,000) | ||
Interest Rate Swaps [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[2] | 0 | 0 | ||
Interest Rate Swaps [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[2] | (22,927,000) | (47,765,000) | ||
Interest Rate Swaps [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[2] | 0 | 0 | ||
Non Qualified Deferred Compensation Plan [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [3] | (37,575,000) | (36,933,000) | ||
Non Qualified Deferred Compensation Plan [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[3] | (37,575,000) | (36,933,000) | ||
Non Qualified Deferred Compensation Plan [Member] | Significant Other Observable Inputs (Level 2) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[3] | 0 | 0 | ||
Non Qualified Deferred Compensation Plan [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Obligations, Fair Value Disclosure | [1],[3] | $ 0 | $ 0 | ||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Jack in the box brand restaurant operations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Number of Restaurants Closed | restaurant | 9 | ||||
Gain (Loss) on Sale of Assets and Asset Impairment Charges | $ 4,600,000 | ||||
UnderperformingQdobaRestaurants [Member] | Qdoba brand restaurant operations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Number of Restaurants | restaurant | 3 | ||||
UnderperformingQdobaRestaurants [Member] | Fair Value, Measurements, Nonrecurring [Member] | Qdoba brand restaurant operations [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impairment of Long-Lived Assets Held-for-use | $ 2,400,000 | ||||
[1] | We did not have any transfers in or out of Level 1, 2 or 3 | ||||
[2] | We entered into interest rate swaps to reduce our exposure to rising interest rates on our variable rate debt. The fair values of our interest rate swaps are based upon Level 2 inputs which include valuation models as reported by our counterparties. The key inputs for the valuation models are quoted market prices, discount rates and forward yield curves. | ||||
[3] | We maintain an unfunded defined contribution plan for key executives and other members of management. The fair value of this obligation is based on the closing market prices of the participants’ elected investments. |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Details) | 12 Months Ended | ||||
Oct. 01, 2017USD ($) | Oct. 02, 2016USD ($) | Sep. 27, 2015USD ($) | Jun. 15, 2015USD ($)agreements | Apr. 14, 2014USD ($)agreements | |
Derivative [Line Items] | |||||
Interest rate derivatives held (swap agreements) | agreements | 11 | 9 | |||
Interest Rate Swaps [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 200,000,000 | $ 300,000,000 | |||
Interest rate swaps hedge ineffectiveness | $ 0 | $ 0 | $ 0 | ||
Interest Rate Swap 1 [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 500,000,000 |
Derivative Instruments (Derivat
Derivative Instruments (Derivative Instruments Outstanding) (Details) - Interest Rate Swaps [Member] - Derivatives Designated As Hedging Instrument [Member] - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative liability, fair value | $ (22,927) | $ (47,765) |
Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liability, fair value | (4,777) | (5,857) |
Other Noncurrent Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liability, fair value | $ (18,150) | $ (41,908) |
Derivative Instruments (Gains O
Derivative Instruments (Gains Or Losses Recognized On Interest Rate Swap Derivative Instrument) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 19,768 | $ (25,439) | $ (26,596) |
Net loss reclassified to earnings | 5,070 | 4,048 | 2,011 |
Interest Rate Swaps [Member] | Derivatives Designated As Hedging Instrument [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 19,768 | (25,439) | (26,596) |
Interest Rate Swaps [Member] | Interest Expense, Net [Member] | Derivatives Designated As Hedging Instrument [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Net loss reclassified to earnings | $ 5,070 | $ 4,048 | $ 2,011 |
Indebtedness (Narrative) (Detai
Indebtedness (Narrative) (Details) $ in Millions | Oct. 01, 2017USD ($) | Oct. 01, 2017USD ($) |
Debt Instrument [Line Items] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 900 | $ 900 |
Loans Payable to Bank | $ 700 | 700 |
Term loan maturity date | Mar. 19, 2019 | |
Letters of Credit Maximum Issuance Available | $ 75 | 75 |
Debt Instrument, Unused Borrowing Capacity, Amount | $ 371.6 | $ 371.6 |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | |
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 0.00% |
Indebtedness (Schedule Of Long-
Indebtedness (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Debt Instrument [Line Items] | ||
Long-term Line of Credit | $ 497,022 | $ 282,422 |
Loans Payable to Bank | 639,385 | 694,141 |
Capital lease obligations | 11,049 | 18,523 |
Long-term Debt | 1,147,456 | 995,086 |
Less current portion | (64,383) | (55,935) |
Debt Issuance Costs, Gross | (2,141) | (3,779) |
Long-term debt and capital lease obligations noncurrent | $ 1,080,932 | 935,372 |
Revolving Credit Member | ||
Debt Instrument [Line Items] | ||
Variable interest rate | 3.34% | |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Variable interest rate | 3.24% | |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Variable interest rate | 3.50% | |
Current Maturities of Long-Term Debt [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized Debt Issuance Expense | $ 1,502 | $ 1,639 |
Indebtedness (Scheduled Princip
Indebtedness (Scheduled Principal Payments On Long-Term Debt) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Debt Instrument [Line Items] | ||
Less current portion | $ 65,885 | |
2,019 | 1,074,211 | |
2,020 | 1,608 | |
2,021 | 1,655 | |
2,022 | 1,704 | |
Long-term Debt, Maturities, Repayments of Principal in Rolling after Year Five | 2,393 | |
Total amount of long-term debt and capital lease obligation maturing in future as of balance sheet date | $ 1,147,456 | $ 995,086 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) $ in Billions | 12 Months Ended |
Oct. 01, 2017USD ($) | |
Property Subject to or Available for Operating Lease [Line Items] | |
Minimum sublease rents | $ 1.3 |
Lease term (in years) | 20 years |
Minimum [Member] | |
Property Subject to or Available for Operating Lease [Line Items] | |
Lease renewal option as lessee, minimum (in years) | 1 year |
Lease renewal option as lessor, minimum (in years) | 5 years |
Maximum [Member] | |
Property Subject to or Available for Operating Lease [Line Items] | |
Lease renewal option as lessee, minimum (in years) | 20 years |
Lease renewal option as lessor, minimum (in years) | 20 years |
Leases (Components Of Rent Expe
Leases (Components Of Rent Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Leases [Abstract] | |||
Minimum rentals | $ 223,628 | $ 222,437 | $ 212,722 |
Contingent rentals | 3,126 | 2,943 | 2,549 |
Total rent expense | 226,754 | 225,380 | 215,271 |
Operating Leases, Rent Expense, Sublease Rentals | (145,834) | (145,173) | (141,946) |
Net rent expense | $ 80,920 | $ 80,207 | $ 73,325 |
Leases (Future Minimum Lease Pa
Leases (Future Minimum Lease Payments For Capital And Operating Leases) (Details) $ in Thousands | Oct. 01, 2017USD ($) |
Capital Leased Assets [Line Items] | |
Capital Leases, 2018 | $ 2,263 |
Capital Leases, 2019 | 1,968 |
Capital Leases, 2020 | 1,865 |
Capital Leases, 2021 | 1,867 |
Capital Leases, 2022 | 1,832 |
Capital Leases, Thereafter | 3,045 |
Capital Leases, Total minimum lease payments | 12,840 |
Less amount representing interest, 3.50% weighted average interest rate | (1,791) |
Present value of obligations under capital leases | 11,049 |
Less current portion | (2,003) |
Long-term capital lease obligations | 9,046 |
Operating Leases, 2018 | 235,424 |
Operating Leases, 2019 | 212,500 |
Operating Leases, 2020 | 185,817 |
Operating Leases, 2021 | 170,119 |
Operating Leases, 2022 | 126,209 |
Operating Leases, Thereafter | 484,677 |
Operating Leases, Total minimum lease payments | $ 1,414,746 |
Capital Lease Obligations [Member] | |
Capital Leased Assets [Line Items] | |
Weighted average interest rate | 3.50% |
Leases (Assets Recorded Under C
Leases (Assets Recorded Under Capital Leases) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 01, 2017 | Oct. 02, 2016 | |
Capital Leased Assets [Line Items] | ||
Less accumulated amortization | $ (8,952) | $ (10,325) |
Asset under capital leases, net | $ 10,258 | 17,246 |
Minimum [Member] | ||
Capital Leased Assets [Line Items] | ||
Lessor Leasing Arrangements, Operating Leases, Renewal Term | 5 years | |
Buildings [Member] | ||
Capital Leased Assets [Line Items] | ||
Asset under capital leases, gross | $ 7,301 | 9,716 |
Equipment [Member] | ||
Capital Leased Assets [Line Items] | ||
Asset under capital leases, gross | $ 11,909 | $ 17,855 |
Leases (As Lessor) (Details)
Leases (As Lessor) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | ||
Leases [Abstract] | ||||
Total rent income | [1] | $ 237,171 | $ 238,375 | $ 232,264 |
Contingent rentals | $ 33,168 | $ 31,632 | $ 28,348 | |
[1] | (1)Includes contingent rentals |
Leases (Minimum Rents Receivabl
Leases (Minimum Rents Receivable Expected To Be Received Under These Non-Cancelable Operating Leases) (Details) $ in Thousands | Oct. 01, 2017USD ($) |
Leases [Abstract] | |
2,018 | $ 204,162 |
2,019 | 219,358 |
2,020 | 215,921 |
2,021 | 229,382 |
2,022 | 206,554 |
Thereafter | 1,248,289 |
Total minimum future rentals | $ 2,323,666 |
Leases (Assets Held For Lease)
Leases (Assets Held For Lease) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Assets held for lease, gross | $ 847,992 | $ 752,599 |
Less accumulated depreciation | (540,851) | (480,600) |
Assets held for lease, net | 307,141 | 271,999 |
Land [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Assets held for lease, gross | 88,647 | 73,527 |
Buildings [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Assets held for lease, gross | 759,003 | 674,690 |
Equipment [Member] | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Assets held for lease, gross | $ 342 | $ 4,382 |
Impairment, Disposition Of Pr71
Impairment, Disposition Of Property And Equipment, And Restaurant Closing Costs (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($) | Sep. 27, 2015USD ($)center | |
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | |||
Business Exit Costs | $ 7,237 | $ 3,431 | $ 3,592 |
Accelerated depreciation | $ 2,336 | $ 2,214 | $ 6,260 |
Jack in the box brand restaurant operations [Member] | |||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | |||
Number of Closed Restaurants Related to Eminent Domain Proceeds in Current Period | center | 1 | ||
accelerated depreciation [Member] | Jack in the box brand restaurant operations [Member] | |||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | |||
Number of Restaurants Anticipated to Close in Future Periods | restaurant | 3 |
Impairment, Disposition Of Pr72
Impairment, Disposition Of Property And Equipment, And Restaurant Closing Costs (Impairment And Disposal Costs Included In Impairment And Other Charges) (Details) $ in Thousands | 12 Months Ended | |||
Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($)restaurant | Sep. 27, 2015USD ($)centerrestaurant | ||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | ||||
Business Exit Costs | $ 7,237 | $ 3,431 | $ 3,592 | |
Impairment of Long-Lived Assets Held-for-use | 3,096 | 544 | 557 | |
Restructuring Costs | 8,837 | 10,067 | 29 | |
Accelerated depreciation | 2,336 | 2,214 | 6,260 | |
Gain (Loss) on Disposition of Property Plant Equipment | (3,635) | (2,654) | (1,847) | |
Impairment And Other Costs Net | 25,141 | 19,057 | 11,757 | |
Continuing Operations [Member] | ||||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | ||||
Gain (Loss) on Disposition of Property Plant Equipment | [1] | $ 3,635 | $ 2,801 | $ 1,319 |
Jack in the box brand restaurant operations [Member] | ||||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | ||||
Number of Closed Restaurants Related to Eminent Domain Proceeds in Current Period | center | 1 | |||
Number of Restaurants | restaurant | 2,251 | 2,255 | 2,249 | |
Restructuring Costs | $ 208 | $ 6,312 | $ 0 | |
Gains from Eminent Domain [Member] | ||||
Impairment, Disposition of Property and Equipment, and Restaurant Closing Costs [Line Items] | ||||
Gain (Loss) on Disposition of Property Plant Equipment | $ 900 | |||
[1] | In 2015, losses on the disposition of property and equipment were offset by $0.9 million in gains from the resolution of one eminent domain matter involving a Jack in the Box restaurant. |
Impairment, Disposition Of Pr73
Impairment, Disposition Of Property And Equipment, And Restaurant Closing Costs (Restaurant Closing Costs) (Details) - USD ($) | 12 Months Ended | ||||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |||
Restructuring Reserve [Roll Forward] | |||||
Asset Impairment Charges | $ 3,096,000 | $ 544,000 | $ 557,000 | ||
Facility Closing [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Balance at beginning of year | 7,231,000 | ||||
Additions and adjustments | 549,000 | ||||
Restructuring Reserve, Accrual Adjustment | [1] | 959,000 | |||
Cash payments | 4,130,000 | ||||
Balance at end of year | 6,203,000 | [2],[3] | $ 7,231,000 | ||
Restaurant Closing Costs [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Other Accrued Liabilities | $ 2,900,000 | ||||
Weighted Average [Member] | Facility Closing [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
RemainingLeaseCommitmentTerm | 4 | ||||
Interest Expense [Member] | Facility Closing [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Restructuring Reserve, Accrual Adjustment | $ 1,594,000 | ||||
Qdoba brand restaurant operations [Member] | |||||
Restructuring Reserve [Roll Forward] | |||||
Asset Impairment Charges | $ 700,000 | ||||
[1] | (1)Adjustments relate primarily to revisions of certain sublease and cost assumptions. Our estimates related to our future lease obligations, primarily the sublease income we anticipate, are subject to a high degree of judgment and may differ from actual sublease income due to changes in economic conditions, desirability of the sites and other factors. | ||||
[2] | (3)This balance excludes $2.9 million of restaurant closing costs that are included in accrued liabilities and other long-term liabilities, which were initially recorded as losses on the sale of company-operated restaurants upon sale to Jack in the Box franchisees in prior years. | ||||
[3] | The weighted average remaining lease term related to these commitments is approximately four years |
Impairment, Disposition Of Pr74
Impairment, Disposition Of Property And Equipment, Restaurant Closing Costs And Restructuring Restructuring Costs (Details) $ in Thousands | 12 Months Ended | ||||||
Oct. 01, 2017USD ($)restaurant | Oct. 02, 2016USD ($) | Sep. 27, 2015USD ($) | |||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | $ 8,837 | $ 10,067 | $ 29 | ||||
Qdoba evaluation cost [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | [1] | 5,285 | 0 | 0 | |||
Employee Severance [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Charges | 731 | ||||||
Restructuring Costs | 731 | 7,583 | 29 | ||||
Restructuring Reserve [Roll Forward] | |||||||
Balance at beginning of year | 4,198 | ||||||
Balance at end of year | 648 | 4,198 | |||||
Payments for Restructuring | (4,281) | ||||||
Facility Closing [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Charges | 549 | ||||||
Restructuring Costs | [2] | 2,052 | 2,004 | 0 | |||
Restructuring Reserve [Roll Forward] | |||||||
Balance at beginning of year | 7,231 | ||||||
Balance at end of year | 6,203 | [3],[4] | 7,231 | ||||
Payments for Restructuring | (4,130) | ||||||
Other Restructuring [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | 769 | [5] | 480 | [3] | 0 | [5] | |
Qdoba [Member] | Facility Closing [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Leasehold Improvements, Gross | (900) | ||||||
Deferred Rent Credit | (300) | ||||||
Restructuring Reserve [Roll Forward] | |||||||
Restructuring and Related Cost, Accelerated Depreciation | 1,200 | ||||||
Shared Services [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | [6] | 3,423 | 1,764 | 29 | |||
Shared Services [Member] | Qdoba evaluation cost [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | 3,000 | ||||||
Qdoba brand restaurant operations [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | [7] | $ 5,206 | 1,991 | 0 | |||
Qdoba brand restaurant operations [Member] | accelerated depreciation [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Number of Restaurants Anticipated to Close in Future Periods | restaurant | 3 | ||||||
Qdoba brand restaurant operations [Member] | Qdoba evaluation cost [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Costs | $ 2,300 | ||||||
Jack in the box brand restaurant operations [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Number of Restaurants Closed | restaurant | 4 | ||||||
Restructuring Costs | $ 208 | $ 6,312 | $ 0 | ||||
Jack in the box brand restaurant operations [Member] | accelerated depreciation [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Number of Restaurants Anticipated to Close in Future Periods | restaurant | 3 | ||||||
Commitments [Member] | Qdoba [Member] | Facility Closing [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring Charges | $ 2,000 | ||||||
[1] | (1)Qdoba Evaluation costs are primarily comprised of legal services, third party consulting and audit fees. | ||||||
[2] | (2)In 2017, facility closing costs include $2.0 million in costs related to the exit and early lease termination of the Qdoba corporate support center, which was offset by $0.9 million due to the reversal of the related tenant improvement allowance, and $0.3 million due to the reversal of the related straight-line rent expense. In 2017, facility closing costs also includes $1.2 million of accelerated depreciation related to the relocation of our Qdoba corporate support center. | ||||||
[3] | (3)This balance excludes $2.9 million of restaurant closing costs that are included in accrued liabilities and other long-term liabilities, which were initially recorded as losses on the sale of company-operated restaurants upon sale to Jack in the Box franchisees in prior years. | ||||||
[4] | The weighted average remaining lease term related to these commitments is approximately four years | ||||||
[5] | (3)In 2017, other primarily represents employee relocation costs and moving expenses related to the relocation of our Qdoba corporate support center. In 2016, other primarily represents employee relocation costs. | ||||||
[6] | (2)Shared service functions consist primarily of accounting/finance, information technology, human resources, audit services, legal, tax and treasury. In 2017, costs include $3.0 million of Qdoba Evaluation costs. | ||||||
[7] | (1)In 2017, Qdoba restaurant operations includes $2.3 million of Qdoba Evaluation costs. |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Oct. 01, 2017 | Oct. 02, 2016 | |
Operating Loss Carryforwards [Line Items] | ||
State net operating loss carryforwards | $ 66,500 | |
Valuation allowance | $ 8,507 | $ 11,365 |
Minimum [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2018 | |
Maximum [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards, Expiration Date | Jan. 1, 2037 |
Income Taxes (Components Of Inc
Income Taxes (Components Of Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $ 80,787 | $ 32,276 | $ 59,362 |
Current, State | 12,736 | 5,315 | 9,598 |
Total Current | 93,523 | 37,591 | 68,960 |
Deferred, Federal | (9,816) | 29,975 | (2,018) |
Deferred, State | (2,392) | 4,998 | (1,173) |
Total Deferred | (12,208) | 34,973 | (3,191) |
Income tax expense from continuing operations | 81,315 | 72,564 | 65,769 |
Income tax benefit from discontinued operations | $ (1,868) | $ (1,365) | $ (2,410) |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of The Federal Statutory Income Tax Rate To Effective Tax Rate) (Details) | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Income Tax Disclosure [Abstract] | |||
Computed at federal statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax benefit | 3.80% | 3.70% | 3.70% |
Benefit of jobs tax credits | (0.40%) | (1.00%) | (1.10%) |
Expense/(benefit) related to COLIs | (1.00%) | (1.30%) | 0.30% |
Others, net | (0.40%) | 0.10% | (1.00%) |
Effective tax rate | 37.00% | 36.50% | 36.90% |
Income Taxes (Deferred Tax Asse
Income Taxes (Deferred Tax Assets And Deferred Tax Liabilities) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Income Tax Disclosure [Abstract] | ||
Accrued defined benefit pension and postretirement benefits | $ 67,471 | $ 89,253 |
Impairment | 23,986 | 21,904 |
Accrued insurance | 14,708 | 14,378 |
Tax loss and tax credit carryforwards | 11,860 | 13,624 |
Lease commitments related to closed or refranchised locations | 10,337 | 7,440 |
Share-based compensation | 9,715 | 9,091 |
Interest rate swaps | 8,855 | 18,483 |
Leasing transactions | 7,532 | 11,144 |
Other reserves and allowances | 2,843 | 1,935 |
Deferred income | 1,898 | 1,887 |
Accrued vacation pay expense | 1,835 | 2,137 |
Accrued incentive compensation | 1,021 | 5,536 |
Other, net | 5,185 | 3,876 |
Total gross deferred tax assets | 167,246 | 200,688 |
Valuation allowance | (8,507) | (11,365) |
Total net deferred tax assets | 158,739 | 189,323 |
Intangible assets | (33,448) | (31,827) |
Property and equipment, principally due to differences in depreciation | (25,077) | (38,859) |
Deferred Tax Liabilities, Other | (1,519) | (1,050) |
Total gross deferred tax liabilities | (60,044) | (71,736) |
Net deferred tax assets | $ 98,695 | $ 117,587 |
Retirement Plans (Narrative) (D
Retirement Plans (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2015 | Oct. 02, 2016 | Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | Jan. 01, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Minimum Required Contribution For Retirement Plans | $ 0 | |||||
Decrease in earnings before income taxes due to quarter percentage point decrease in discount rate | $ 300,000 | |||||
Decrease in earnings before income taxes due to quarter percentage point decrease in long-term rate of return | $ 1,100,000 | |||||
Qualified Defined Contribution Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Benefit Plans, General Information | P21Y | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | 4.00% | ||||
Defined Contribution Plan, Cost Recognized | $ 2,400,000 | $ 3,800,000 | $ 1,200,000 | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50.00% | 100.00% | ||||
Non-Qualified Deferred Compensation Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Period of years in executive position | 10 years | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | 4.00% | ||||
Defined Contribution Plan, Cost Recognized | $ 500,000 | $ 300,000 | $ 1,300,000 | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | |||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 50.00% | |||||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent of Bonus | 85.00% | |||||
Vesting percentage of participant's right to company contribution | 25.00% | |||||
Maximum [Member] | Non-Qualified Deferred Compensation Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% |
Retirement Plans (Reconciliatio
Retirement Plans (Reconciliation Of The Changes In Benefit Obligations, Plan Assets And Funded Status Of Retirement Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Actuarial gains (losses) arising during the period | $ (49,025) | $ 71,971 | $ 54,407 |
Total recognized in OCI | 55,454 | (67,425) | (44,544) |
Qualified Pension Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Obligation at beginning of year | 522,459 | 442,264 | |
Service cost | 1,331 | 4,479 | 7,592 |
Interest cost | 19,889 | 20,926 | 19,750 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (20,081) | 75,456 | |
Benefits paid | (10,425) | (9,791) | |
Settlements | (19,406) | (10,875) | |
Other | 0 | 0 | |
Obligation at end of year | 493,767 | 522,459 | 442,264 |
Defined Benefit Plan, Funded Status of Plan | (33,058) | (84,057) | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | 438,402 | 332,657 | |
Actual return on plan assets | 52,138 | 31,411 | |
Participant contributions | 0 | 0 | |
Employer contributions | 0 | 95,000 | |
Defined Benefit Plan, Benefits Paid | (10,425) | (9,791) | |
Settlements | (19,406) | (10,875) | |
Defined Benefit Plan, Other | 0 | 0 | |
Fair value at end of year | 460,709 | 438,402 | 332,657 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Current liabilities | 0 | 0 | |
Noncurrent liabilities | (33,058) | (84,057) | |
Total liability recognized | (33,058) | (84,057) | |
Unamortized actuarial loss, net | 167,598 | 216,129 | |
Unamortized prior service cost | 0 | 0 | |
Total | 167,598 | 216,129 | |
Actuarial gains (losses) arising during the period | 44,077 | (65,801) | |
Amortization of actuarial loss | (4,455) | (2,828) | |
Amortization of prior service cost | 0 | 0 | |
Total recognized in OCI | 48,532 | (62,973) | |
Net periodic benefit cost and other losses | (2,467) | 6,477 | 12,347 |
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income | (50,999) | 69,450 | |
Net actuarial loss | (3,330) | ||
Prior service cost | 0 | ||
Total | 3,330 | ||
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Obligation at beginning of year | 81,450 | 75,346 | |
Service cost | 855 | 773 | 676 |
Interest cost | 2,850 | 3,253 | 2,945 |
Participant contributions | 0 | 0 | |
Actuarial (gain) loss | (2,296) | 6,938 | |
Benefits paid | (4,458) | (4,860) | |
Settlements | 0 | 0 | |
Other | 0 | 0 | |
Obligation at end of year | 78,401 | 81,450 | 75,346 |
Defined Benefit Plan, Funded Status of Plan | (78,401) | (81,450) | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Participant contributions | 0 | 0 | |
Employer contributions | 4,458 | 4,860 | |
Defined Benefit Plan, Benefits Paid | (4,458) | (4,860) | |
Settlements | 0 | 0 | |
Defined Benefit Plan, Other | 0 | 0 | |
Fair value at end of year | 0 | 0 | 0 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Current liabilities | (4,448) | (4,504) | |
Noncurrent liabilities | (73,953) | (76,946) | |
Total liability recognized | (78,401) | (81,450) | |
Unamortized actuarial loss, net | 33,462 | 37,417 | |
Unamortized prior service cost | 418 | 571 | |
Total | 33,880 | 37,988 | |
Actuarial gains (losses) arising during the period | 2,296 | (6,938) | |
Amortization of actuarial loss | (1,659) | (1,259) | |
Amortization of prior service cost | 153 | 240 | |
Total recognized in OCI | 4,108 | (5,439) | |
Net periodic benefit cost and other losses | 5,517 | 5,525 | 5,024 |
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income | 1,409 | 10,964 | |
Net actuarial loss | (1,538) | ||
Prior service cost | 146 | ||
Total | 1,684 | ||
Postretirement Health Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Obligation at beginning of year | 28,214 | 28,911 | |
Service cost | 0 | 0 | |
Interest cost | 1,003 | 1,263 | 1,196 |
Participant contributions | 118 | 127 | |
Actuarial (gain) loss | (2,652) | (768) | |
Benefits paid | (1,168) | (1,161) | |
Settlements | 0 | 0 | |
Other | 145 | (158) | |
Obligation at end of year | 25,660 | 28,214 | 28,911 |
Defined Benefit Plan, Funded Status of Plan | (25,660) | (28,214) | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Participant contributions | 118 | 127 | |
Employer contributions | 905 | 1,192 | |
Defined Benefit Plan, Benefits Paid | (1,168) | (1,161) | |
Settlements | 0 | 0 | |
Defined Benefit Plan, Other | 145 | (158) | |
Fair value at end of year | 0 | 0 | 0 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Current liabilities | (1,308) | (1,325) | |
Noncurrent liabilities | (24,352) | (26,889) | |
Total liability recognized | (25,660) | (28,214) | |
Unamortized actuarial loss, net | (574) | 2,239 | |
Unamortized prior service cost | 0 | 0 | |
Total | (574) | 2,239 | |
Actuarial gains (losses) arising during the period | 2,652 | 768 | |
Amortization of actuarial loss | (162) | (219) | |
Amortization of prior service cost | 0 | 0 | |
Total recognized in OCI | 2,814 | 987 | |
Net periodic benefit cost and other losses | 1,165 | 1,482 | $ 1,378 |
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income | (1,649) | $ 495 | |
Net actuarial loss | 27 | ||
Prior service cost | 0 | ||
Total | $ (27) |
Retirement Plans (Fair Value Of
Retirement Plans (Fair Value Of Plan Assets Of Pension Plans) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Sep. 30, 2017 | Oct. 02, 2016 | Sep. 30, 2016 | Sep. 27, 2015 |
Defined Benefit Plan Disclosure [Line Items] | |||||
Fair value of plan assets | $ 460,709 | $ 438,402 | |||
Qualified Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Projected benefit obligation | $ 493,767 | $ 522,459 | $ 442,264 | ||
Accumulated benefit obligation | 493,767 | 522,459 | |||
Fair value of plan assets | 460,709 | 438,402 | 332,657 | ||
Supplemental Employee Retirement Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Projected benefit obligation | 78,401 | 81,450 | 75,346 | ||
Accumulated benefit obligation | 78,401 | 80,815 | |||
Fair value of plan assets | $ 0 | $ 0 | $ 0 |
Retirement Plans (Components Of
Retirement Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Qualified Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 1,331 | $ 4,479 | $ 7,592 |
Interest cost | 19,889 | 20,926 | 19,750 |
Expected return on plan assets | (28,142) | (21,756) | (23,273) |
Actuarial loss | 4,455 | 2,828 | 8,278 |
Net periodic benefit cost | (2,467) | 6,477 | 12,347 |
Supplemental Employee Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 855 | 773 | 676 |
Interest cost | 2,850 | 3,253 | 2,945 |
Actuarial loss | 1,659 | 1,259 | 1,134 |
Amortization of unrecognized prior service cost | 153 | 240 | 269 |
Net periodic benefit cost | 5,517 | 5,525 | 5,024 |
Postretirement Health Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 0 | 0 | |
Interest cost | 1,003 | 1,263 | 1,196 |
Actuarial loss | 162 | 219 | 182 |
Net periodic benefit cost | $ 1,165 | $ 1,482 | $ 1,378 |
Retirement Plans (Determining T
Retirement Plans (Determining The Present Values Of Benefit Obligations And Net Periodic Benefit Costs) (Details) | 12 Months Ended | |||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||
Cash flow period extension | P30Y | |||
Qualified Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Assumptions used to determine benefit obligations, Discount rate | [1] | 3.99% | 3.85% | 4.79% |
Assumptions used to determine benefit obligations, Rate of future pay increases | [1] | 0.00% | 0.00% | 3.50% |
Assumptions used to determine net periodic benefit cost, Discount rate | [2] | 3.85% | 4.79% | 4.60% |
Assumptions used to determine net periodic benefit cost, Long-term rate of return on assets | [2] | 6.50% | 6.50% | 6.50% |
Assumptions used to determine net periodic benefit cost, Rate of future pay increases | [2] | 0.00% | 3.50% | 3.50% |
Supplemental Employee Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Assumptions used to determine benefit obligations, Discount rate | [1] | 3.80% | 3.60% | 4.45% |
Assumptions used to determine benefit obligations, Rate of future pay increases | [1] | 3.50% | 3.50% | 3.50% |
Assumptions used to determine net periodic benefit cost, Discount rate | [2] | 3.60% | 4.45% | 4.36% |
Assumptions used to determine net periodic benefit cost, Rate of future pay increases | [2] | 3.50% | 3.50% | 3.50% |
Postretirement Health Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Assumptions used to determine benefit obligations, Discount rate | [1] | 3.82% | 3.64% | 4.47% |
Assumptions used to determine net periodic benefit cost, Discount rate | [2] | 3.64% | 4.47% | 4.43% |
[1] | Determined as of end of year | |||
[2] | Determined as of beginning of year |
Retirement Plans (Health Care C
Retirement Plans (Health Care Cost Trend Rates For Postretirement Health Plans) (Details) | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Participants Under Age 65 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Health care cost trend rate for next year | 7.50% | 7.75% | 8.00% |
Rate to which the cost trend rate is assumed to decline | 4.50% | 4.50% | 4.50% |
Year the rate reaches the ultimate trend rate | 2,030 | 2,030 | 2,030 |
Participants Age 65 Or Older [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Health care cost trend rate for next year | 7.00% | 7.25% | 7.50% |
Rate to which the cost trend rate is assumed to decline | 4.50% | 4.50% | 4.50% |
Year the rate reaches the ultimate trend rate | 2,028 | 2,028 | 2,028 |
Retirement Plans (Effect Of Cha
Retirement Plans (Effect Of Change In The Assumed Health Care Cost Trend Rate) (Details) $ in Thousands | 12 Months Ended |
Oct. 01, 2017USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Total interest and service cost, 1% Point Increase | $ 123 |
Total interest and service cost, 1% Point Decrease | (105) |
Postretirement benefit obligation, 1% Point Increase | 2,892 |
Postretirement benefit obligation, 1% Point Decrease | $ (2,482) |
Retirement Plans (Schedule Of P
Retirement Plans (Schedule Of Plan Asset Allocation) (Details) | 12 Months Ended |
Oct. 01, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 100.00% |
Asset Allocation, Target, Equity securities | 100.00% |
Cash and Cash Equivalents [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 1.00% |
Asset Allocation, Target, Equity securities | 0.00% |
Asset Allocation, Minimum, Equity securities | 0.00% |
Asset Allocation, Maximum, Equity securities | 0.00% |
Core Fixed Funds Member | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 29.00% |
Asset Allocation, Target, Equity securities | 25.00% |
Asset Allocation, Minimum, Equity securities | 20.00% |
Asset Allocation, Maximum, Equity securities | 30.00% |
High yield | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 4.00% |
Asset Allocation, Target, Equity securities | 5.00% |
Asset Allocation, Minimum, Equity securities | 0.00% |
Asset Allocation, Maximum, Equity securities | 10.00% |
Alternatives | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 9.00% |
Asset Allocation, Target, Equity securities | 9.00% |
Asset Allocation, Minimum, Equity securities | 4.00% |
Asset Allocation, Maximum, Equity securities | 14.00% |
Real Estate [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 8.00% |
Asset Allocation, Target, Equity securities | 8.00% |
Asset Allocation, Minimum, Equity securities | 3.00% |
Asset Allocation, Maximum, Equity securities | 13.00% |
Real Return Bonds Member | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 0.00% |
Asset Allocation, Target, Equity securities | 3.00% |
Asset Allocation, Minimum, Equity securities | 0.00% |
Asset Allocation, Maximum, Equity securities | 6.00% |
UNITED STATES | Equity Funds & Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 23.00% |
Asset Allocation, Target, Equity securities | 25.00% |
Asset Allocation, Minimum, Equity securities | 15.00% |
Asset Allocation, Maximum, Equity securities | 35.00% |
Non-US [Member] | Equity Funds & Securities [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Percentage of Plan Assets, Equity securities | 26.00% |
Asset Allocation, Target, Equity securities | 25.00% |
Asset Allocation, Minimum, Equity securities | 15.00% |
Asset Allocation, Maximum, Equity securities | 35.00% |
Retirement Plans (Fair Values O
Retirement Plans (Fair Values Of The Qualified Plan's Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Sep. 30, 2016 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 460,709 | $ 438,402 | ||
Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [1] | 3,245 | 5,479 | |
Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [2] | 133,737 | 120,439 | |
High yield | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [3] | 19,889 | 24,638 | |
Alternatives | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [4] | 38,933 | [5] | 24,642 |
Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[6] | 35,534 | 40,146 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 180,143 | 211,551 | ||
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [1] | 0 | 0 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [2] | 0 | 0 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | High yield | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [3] | 19,889 | 24,638 | |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Alternatives | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [4] | 0 | [5] | 24,642 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[6] | 0 | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 136,982 | 125,918 | ||
Significant Other Observable Inputs (Level 2) [Member] | Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [1] | 3,245 | 5,479 | |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [2] | 133,737 | 120,439 | |
Significant Other Observable Inputs (Level 2) [Member] | High yield | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [3] | 0 | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | Alternatives | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [4] | 0 | [5] | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[6] | 0 | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) [Member] | Cash and Cash Equivalents [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [1] | 0 | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Bonds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [2] | 0 | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | High yield | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [3] | 0 | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | Alternatives | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [4] | 0 | [5] | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[6] | 0 | 0 | |
UNITED STATES | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [7] | 108,241 | 101,174 | |
UNITED STATES | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [7] | 108,241 | 101,174 | |
UNITED STATES | Significant Other Observable Inputs (Level 2) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [7] | 0 | 0 | |
UNITED STATES | Significant Unobservable Inputs (Level 3) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [7] | 0 | 0 | |
Non-US [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[8] | 121,130 | 121,884 | |
Non-US [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[8] | 52,013 | 61,097 | |
Non-US [Member] | Significant Other Observable Inputs (Level 2) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[8] | 0 | 0 | |
Non-US [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity Funds [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | [5],[8] | $ 0 | $ 0 | |
[1] | Cash and cash equivalents are comprised of commercial paper, short-term bills and notes, and short-term investment funds, which are valued at quoted prices in active markets for similar securities. | |||
[2] | Investment grade fixed income consists of debt obligations either issued by the US government or have a rating of BBB- / Baa or higher assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices (Level 1), or based on quoted prices in inactive markets, or whose values are based on models, but the inputs to those models are observable either directly or indirectly (Level 2). | |||
[3] | High yield fixed income consists primarily of debt obligations that have a rating of below BBB- / Baa or lower assigned by a major credit rating agency. These investments are valued based on unadjusted quoted market prices. | |||
[4] | Alternative investments consists primarily of an investment in asset classes other than stocks, bonds, and cash. Alternative investments can include commodities, hedge funds, private equity, managed futures, and derivatives. These investments are valued based on unadjusted quoted market prices and can be redeemed on a bi-monthly basis. | |||
[5] | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. | |||
[6] | Real estate is investments in a real estate collective trust for purposes of total return. These investments are valued based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These investments can be redeemed on a quarterly basis. | |||
[7] | U.S. equity securities are comprised of investments in common stock of U.S. companies for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date. | |||
[8] | International equity securities are comprised of investments in common stock of companies located outside of the U.S for total return purposes. These investments are valued by the trustee at closing prices from national exchanges on the valuation date, or the values are adjusted as a result of market movements following the close of local trading using inputs to models that are observable either directly or indirectly. The portion of these investments that are measured at fair value using the net asset value per share practical expedient (see note 4 below) can be redeemed on a monthly basis. |
Retirement Plans (Changes In Le
Retirement Plans (Changes In Level 3 Investments For The Qualified Plan) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Sep. 30, 2016 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | |||
Fair value at end of year | $ 460,709 | $ 438,402 | |
Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | |||
Fair value at end of year | 0 | 0 | |
Real Estate [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | |||
Fair value at end of year | [1],[2] | 35,534 | 40,146 |
Real Estate [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value at beginning of year | |||
Fair value at end of year | [1],[2] | $ 0 | $ 0 |
[1] | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. | ||
[2] | Real estate is investments in a real estate collective trust for purposes of total return. These investments are valued based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These investments can be redeemed on a quarterly basis. |
Retirement Plans (Contributions
Retirement Plans (Contributions Expected To Be Paid In The Next Fiscal Year And The Projected Benefit Payments) (Details) $ in Thousands | 12 Months Ended |
Oct. 01, 2017USD ($) | |
Supplemental Employee Retirement Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net contributions during fiscal 2018 | $ 4,448 |
Defined Benefit Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2,018 | 15,889 |
2,019 | 16,454 |
2,020 | 17,315 |
2,021 | 18,046 |
2,022 | 18,969 |
2023-2027 | 115,960 |
Postretirement Health Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated net contributions during fiscal 2018 | 1,333 |
2,018 | 1,333 |
2,019 | 1,391 |
2,020 | 1,440 |
2,021 | 1,534 |
2,022 | 1,579 |
2023-2027 | $ 8,194 |
Share-Based Employee Compensa90
Share-Based Employee Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 95.00% | ||
Percentage of base compensation authorized for withholding by employees during any offering period | 15.00% | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total unrecognized compensation cost related to stock options granted | $ 8 | ||
Weighted-average period for unrecognized compensation cost, (in years) | 2 years 6 months | ||
Weighted-average grant-date fair value of RSUs granted (usd per share) | $ 102.42 | $ 72.06 | $ 75.07 |
Total fair value of awards vested | $ 4.4 | $ 4.5 | $ 2.4 |
Awards outstanding | 304,232 | 328,905 | |
Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Total unrecognized compensation cost related to stock options granted | $ 1.7 | ||
Weighted-average period for unrecognized compensation cost, (in years) | 1 year 8 months | ||
Weighted-average grant-date fair value of options granted (usd per share) | $ 75.25 | $ 73.53 | |
Weighted-average grant-date fair value of RSUs granted (usd per share) | $ 95.33 | ||
Total fair value of awards vested | $ 3.2 | $ 3.5 | $ 3.5 |
Awards outstanding | 92,135 | 117,619 | |
Nonvested stock awards and units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Total unrecognized compensation cost related to stock options granted | $ 1.5 | ||
Weighted-average period for unrecognized compensation cost, (in years) | 1 year 2 months | ||
Weighted-average grant-date fair value of options granted (usd per share) | $ 20.92 | $ 16.21 | $ 22.04 |
Total intrinsic value of stock options exercised | $ 6.9 | $ 18.6 | $ 41.8 |
Nonvested Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total unrecognized compensation cost related to stock options granted | $ 0.1 | ||
Awards outstanding | 95,815 | ||
Deferred Compensation for Non Management Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards outstanding | 88,515 | 84,364 | |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Restricted stock units vested, percentage | 50.00% | ||
Minimum [Member] | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0.00% | ||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Restricted stock units vested, percentage | 100.00% | ||
Maximum [Member] | Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 150.00% | ||
Management [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Awards outstanding | 49,576 | ||
Non-Management Directors [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 12 months | ||
Awards outstanding | 52,343 | ||
Two Thousand Four Stock Incentive Plan Member | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized | 11,600,000 | ||
Shares of common stock available for future issuance | 2,079,595 | ||
Deferred Compensation Plan for Non-Management Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized | 350,000 | ||
Shares of common stock available for future issuance | 143,122 | ||
Prior to fiscal 2011 [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards outstanding | 60,272 | ||
Since fiscal 2011 [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards outstanding | 142,041 |
Share-Based Employee Compensa91
Share-Based Employee Compensation (Components Of Share-Based Compensation Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | $ 11,416 | $ 11,455 | $ 12,420 |
Excess Tax Benefit from Share-based Compensation, Financing Activities | 4,232 | 7,461 | 18,602 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | 6,470 | 5,520 | 4,989 |
Performance share awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | 2,674 | 3,068 | 4,229 |
Nonvested stock awards and units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | 1,914 | 2,509 | 2,782 |
Nonvested Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | 88 | 88 | 156 |
Deferred Compensation for Non Management Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total share-based compensation expense | $ 270 | $ 270 | $ 264 |
Share-Based Employee Compensa92
Share-Based Employee Compensation (Summary Of Stock Option Activity) (Details) - Nonvested stock awards and units $ / shares in Units, $ in Thousands | 12 Months Ended |
Oct. 01, 2017USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | P7Y |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Options outstanding, shares, beginning balance | shares | 338,457 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 89,792 |
Shares, Exercised | shares | (114,333) |
Shares, Forfeited | shares | (1,557) |
Options outstanding, shares, ending balance | shares | 312,359 |
Options exercisable, Shares | shares | 124,824 |
Options exercisable and expected to vest, Shares | shares | 312,359 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |
Options outstanding, Weighted Average Exercise Price, Beginning balance (usd per share) | $ / shares | $ 61.73 |
Options outstanding, Weighted Average Exercise Price, Granted (usd per share) | $ / shares | 104.95 |
Options outstanding, Weighted Average Exercise Price, Exercised (usd per share) | $ / shares | 45.18 |
Options outstanding, Weighted Average Exercise Price, Forfeited (usd per share) | $ / shares | 73.53 |
Options outstanding, Weighted Average Exercise Price, Ending balance (usd per share) | $ / shares | 80.15 |
Options exercisable, Weighted Average Exercise Price (usd per share) | $ / shares | 66.64 |
Options exercisable and expected to vest, Weighted Average Exercise Price (usd per share) | $ / shares | $ 80.15 |
Options outstanding, Weighted Average Remaining Contractual Term, years | 4 years 10 months 28 days |
Options exercisable, Weighted Average Remaining Contractual Term, years | 4 years 1 month 10 days |
Options exercisable and expected to vest, Weighted Average Remaining Contractual Term, years | 4 years 10 months 28 days |
Options outstanding, Aggregate Intrinsic Value | $ | $ 7,072 |
Options exercisable, Aggregate Intrinsic Value | $ | 4,404 |
Options exercisable and expected to vest, Aggregate Intrinsic Value | $ | $ 7,072 |
Share-Based Employee Compensa93
Share-Based Employee Compensation (Schedule Of Weighted-Average Assumptions) (Details) - Nonvested stock awards and units - $ / shares | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.37% | 1.66% | 1.78% |
Expected dividends yield | 1.52% | 1.59% | 1.09% |
Expected stock price volatility | 28.98% | 26.68% | 32.09% |
Expected life of options (in years) | 3 years 6 months | 4 years 10 months 26 days | 6 years |
Weighted-average grant date fair value (usd per share) | $ 20.92 | $ 16.21 | $ 22.04 |
Share-Based Employee Compensa94
Share-Based Employee Compensation (Summary Of PSU Activity) (Details) - Performance share awards | 12 Months Ended |
Oct. 01, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 8 months |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |
Stock awards outstanding, Beginning balance, Shares | shares | 117,619 |
Granted, Shares | shares | 24,599 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | shares | (55,022) |
Forfeited, Shares | shares | (1,539) |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | shares | 6,478 |
Stock awards outstanding, Ending balance, Shares | shares | 92,135 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Stock awards outstanding, Weighted-Average Grant Date Fair Value, Beginning balance (usd per share) | $ / shares | $ 62.13 |
Granted, Weighted-Average Grant Date Fair Value (usd per share) | $ / shares | 95.33 |
Issued, Weighted-Average Grant Date Fair Value (usd per share) | $ / shares | 65.36 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares | 84.04 |
Stock awards outstanding, Weighted-Average Grant Date Fair Value, Ending balance (usd per share) | $ / shares | 78.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Adjustment, Weighted Average per share | $ / shares | $ 78.27 |
Share-Based Employee Compensa95
Share-Based Employee Compensation (Summary Of RSA Activity) (Details) - Nonvested Stock Awards [Member] | 12 Months Ended |
Oct. 01, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 |
Nonvested stock awards outstanding, Shares | 95,815 |
Non vested stock awards outstanding, Weighted-Average Grant Date Fair Value, (usd per share) | $ / shares | $ 20.56 |
Share-Based Employee Compensa96
Share-Based Employee Compensation (Summary Of RSU Activity) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Stock awards outstanding, Beginning balance, Shares | 328,905 | ||
Granted, Shares | 65,947 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (75,604) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (15,016) | ||
Stock awards outstanding, Ending balance, Shares | 304,232 | 328,905 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Stock awards outstanding, Weighted-Average Grant Date Fair Value, Beginning balance (usd per share) | $ 54.05 | ||
Granted, Weighted-Average Grant Date Fair Value (usd per share) | 102.42 | $ 72.06 | $ 75.07 |
Released, Weighted-Average Grant Date Fair Value (usd per share) | 58.47 | ||
Cancelled, Weighted-Average Grant Date Fair Value | 80.57 | ||
Stock awards outstanding, Weighted-Average Grant Date Fair Value, Ending balance (usd per share) | $ 62.14 | $ 54.05 | |
Non-Management Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 12 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Stock awards outstanding, Ending balance, Shares | 52,343 |
Share-Based Employee Compensa97
Share-Based Employee Compensation (Summary Of Stock Equivalent Activity) (Details) | 12 Months Ended | ||
Oct. 01, 2017$ / sharesshares | Oct. 02, 2016$ / sharesshares | Sep. 27, 2015$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Compensation Arrangement with Individual, Common Stock Reserved for Future Issuance | 0 | 0 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 0 | 0 | 1,371 |
Employee Stock Purchase Plan Member | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ / shares | $ 70.78 | ||
Deferred Compensation for Non Management Directors [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||
Stock awards outstanding, Beginning balance, Shares | 84,364 | ||
Deferred Directors' Compensation in Current Period, Shares | 2,632 | ||
Deferred directors' compensation, Weighted-Average Grant Date Fair Value | $ / shares | 102.58 | ||
StockEquivalentsDuringPeriodSharesDividend | 1,519 | ||
Stock awards outstanding, Ending balance, Shares | 88,515 | 84,364 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Stock awards outstanding, Weighted-Average Grant Date Fair Value, Ending balance (usd per share) | $ / shares | $ 32.85 | $ 29.43 | |
StockEquivalentdividendsweightedaveragepersharefairvalue | $ / shares | 101.94 |
Stockholders' Equity Stockhol98
Stockholders' Equity Stockholders' Equity(Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||
Oct. 01, 2017 | Jul. 09, 2017 | Apr. 16, 2017 | Jan. 22, 2017 | Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | May 10, 2017 | Sep. 22, 2016 | |
Equity, Class of Treasury Stock [Line Items] | |||||||||
Treasury Stock, Shares, Acquired | 3.2 | ||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 327,153 | $ 291,853 | $ 317,051 | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 181,000 | 181,000 | |||||||
Increase (Decrease) in Payables under Repurchase Agreements | $ (7,208) | $ 7,208 | $ (3,112) | ||||||
Common Stock, Dividends, Per Share, Declared | $ 0.40 | $ 0.40 | $ 0.40 | $ 0.40 | $ 1.60 | $ 1.20 | $ 1 | ||
Dividends, Common Stock | $ 49,200 | ||||||||
Expiration: November 2018 [Member] | |||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||
Stock Repurchase Program, Authorized Amount | $ 100,000 | $ 300,000 | |||||||
Treasury Stock [Member] | |||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $ 327,153 | $ 291,853 | $ 317,051 |
Average Shares Outstanding (Rec
Average Shares Outstanding (Reconciliation Of Basic Weighted-Average Shares Outstanding To Diluted Weighted-Average Shares Outstanding) (Details) - shares shares in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Average Shares Outstanding [Line Items] | |||
Weighted-average shares outstanding - basic | 30,630 | 33,735 | 37,587 |
Weighted-average shares outstanding - diluted | 30,914 | 34,146 | 38,215 |
Antidilutive | 76 | 147 | 84 |
Performance conditions not satisfied at the end of the period | 53 | 38 | 15 |
Nonvested stock awards and units | |||
Average Shares Outstanding [Line Items] | |||
Effect of potentially dilutive securities | 182 | 188 | 199 |
Nonvested stock awards and units | |||
Average Shares Outstanding [Line Items] | |||
Effect of potentially dilutive securities | 59 | 150 | 274 |
Performance share awards | |||
Average Shares Outstanding [Line Items] | |||
Effect of potentially dilutive securities | 43 | 73 | 155 |
Commitments, Contingencies A100
Commitments, Contingencies And Legal Matters (Details) $ in Thousands | Oct. 01, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Unconditional purchase obligations, 2018 | $ 880,800 |
Unconditional purchase obligations, 2019 | 499,200 |
Unconditional purchase obligations, 2020 | 386,200 |
Unconditional purchase obligations, 2021 | 380,100 |
Unconditional purchase obligations, 2022 | 261,300 |
Unconditional purchase obligations, Total | $ 2,407,600 |
Segment Reporting (Summarized F
Segment Reporting (Summarized Financial Information Of Reportable Segments) (Details) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||
Oct. 01, 2017 | Jul. 09, 2017 | Apr. 16, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 10, 2016 | Jan. 22, 2017 | Jan. 17, 2016 | Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Segment Reporting Information [Line Items] | |||||||||||
Consolidated revenues | $ 338,746 | $ 357,846 | $ 369,389 | $ 398,419 | $ 368,938 | $ 361,151 | $ 487,933 | $ 470,823 | $ 1,553,914 | $ 1,599,331 | $ 1,540,317 |
Consolidated earnings from operations | $ 60,393 | $ 66,981 | $ 65,650 | $ 58,910 | $ 55,705 | $ 52,786 | $ 73,117 | $ 62,514 | 266,141 | 229,915 | 197,173 |
Gains (losses) on the sale of company-operated restaurants | 38,034 | 1,230 | (3,139) | ||||||||
Interest expense, net | 46,518 | 31,081 | 18,803 | ||||||||
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | 219,623 | 198,834 | 178,370 | ||||||||
Expenditures for long-lived assets by segment | 67,453 | 96,615 | 86,226 | ||||||||
Consolidated depreciation expense | 88,210 | 92,082 | 88,778 | ||||||||
Operating Segments [Member] | Jack in the box brand restaurant operations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Consolidated revenues | 1,097,291 | 1,162,258 | 1,145,176 | ||||||||
Consolidated earnings from operations | 280,097 | 290,346 | 265,230 | ||||||||
Expenditures for long-lived assets by segment | 29,426 | 38,607 | 41,928 | ||||||||
Consolidated depreciation expense | 60,595 | 66,287 | 64,597 | ||||||||
Operating Segments [Member] | Qdoba brand restaurant operations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Consolidated revenues | 456,623 | 437,073 | 395,141 | ||||||||
Consolidated earnings from operations | 31,031 | 47,250 | 47,264 | ||||||||
Expenditures for long-lived assets by segment | 34,163 | 53,316 | 34,071 | ||||||||
Consolidated depreciation expense | 20,854 | 19,306 | 17,103 | ||||||||
Corporate, Non-Segment [Member] | Shared services and unallocated costs [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Consolidated earnings from operations | (83,021) | (108,911) | (112,182) | ||||||||
Expenditures for long-lived assets by segment | 3,864 | 4,692 | 10,227 | ||||||||
Consolidated depreciation expense | 6,761 | 6,489 | 7,078 | ||||||||
Segment Reconciling Items [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Gains (losses) on the sale of company-operated restaurants | $ 38,034 | $ 1,230 | $ (3,139) |
Supplemental Consolidated Ca102
Supplemental Consolidated Cash Flow Information (Additional Information Related To Cash Flows) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | |
Supplemental Cash Flow Information [Abstract] | |||
Income tax payments | $ 92,721 | $ 33,454 | $ 28,764 |
Interest, net of amounts capitalized | 42,893 | 28,576 | 16,233 |
(Decrease) increase in obligations for purchases of property and equipment | (1,848) | (3,122) | 5,388 |
(Decrease) increase in obligations for treasury stock repurchases | (7,208) | 7,208 | (3,112) |
Consideration for franchise acquisitions | 13,809 | 0 | 0 |
Decrease in equipment capital lease obligations from the sale of company-operated restaurants | 5,631 | 0 | 0 |
Equipment capital lease obligations incurred | 1,364 | 1,124 | 16,770 |
Increase in dividends accrued or converted to common stock equivalents | $ 308 | $ 176 | $ 174 |
Supplemental Consolidated Fi103
Supplemental Consolidated Financial Statement Information (Schedule Of Supplemental Consolidated Balance Sheet Information) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Oct. 02, 2016 |
Supplemental Consolidated Financial Statement Information [Abstract] | ||
Trade | $ 64,576 | $ 66,837 |
Notes receivable | 1,276 | 1,603 |
Other | 7,403 | 7,680 |
Allowances for doubtful accounts | (4,561) | (2,760) |
Accounts and other receivables, net | 68,694 | 73,360 |
Prepaid Rent | 0 | 18,613 |
Prepaid income taxes | 18,185 | 12,113 |
Other Prepaid Expense, Current | 10,963 | 9,672 |
Prepaid Expense, Current | 29,148 | 40,398 |
Company-owned life insurance policies | 110,057 | 105,957 |
Deferred Tax Asset | 98,695 | 117,587 |
Deferred rent receivable | 47,033 | 47,485 |
Other | 17,247 | 19,440 |
Other assets, net | 273,032 | 290,469 |
Payroll and related taxes | 26,249 | 44,627 |
Insurance | 39,031 | 38,368 |
Advertising | 20,112 | 21,827 |
Deferred rent income | 17,918 | 15,909 |
Sales and property taxes | 9,695 | 14,311 |
Gift card liability | 5,052 | 5,183 |
Deferred franchise fees | 1,199 | 929 |
Other | 41,049 | 40,096 |
Accrued liabilities | 160,305 | 181,250 |
Defined benefit pension plans | 107,011 | 161,003 |
Straight-line rent accrual | 47,096 | 47,070 |
Other | 119,424 | 140,852 |
Other long-term liabilities | $ 273,531 | $ 348,925 |
Unaudited Quarterly Results 104
Unaudited Quarterly Results Of Operations (Quarterly Results Of Operations) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||||||||
Oct. 01, 2017 | Jul. 09, 2017 | Apr. 16, 2017 | Oct. 02, 2016 | Jul. 03, 2016 | Apr. 10, 2016 | Jan. 22, 2017 | Jan. 17, 2016 | Oct. 01, 2017 | Oct. 02, 2016 | Sep. 27, 2015 | ||||
Selected Quarterly Financial Information [Abstract] | ||||||||||||||
Revenues | $ 338,746 | $ 357,846 | $ 369,389 | $ 398,419 | $ 368,938 | $ 361,151 | $ 487,933 | $ 470,823 | $ 1,553,914 | $ 1,599,331 | $ 1,540,317 | |||
Earnings from operations | 60,393 | 66,981 | 65,650 | 58,910 | 55,705 | 52,786 | 73,117 | 62,514 | 266,141 | 229,915 | 197,173 | |||
Net Income (Loss) Attributable to Parent | $ 29,958 | $ 36,351 | $ 33,094 | $ 31,981 | $ 30,189 | $ 28,682 | $ 35,929 | $ 33,221 | $ 135,332 | $ 124,073 | $ 108,812 | |||
Net earnings per share, Basic (usd per share) | $ 1.02 | $ 1.23 | $ 1.07 | $ 0.98 | $ 0.92 | $ 0.85 | $ 1.12 | $ 0.94 | $ 4.42 | [1] | $ 3.68 | [1] | $ 2.89 | [1] |
Net earnings per share, Diluted (usd per share) | $ 1.01 | $ 1.22 | $ 1.06 | $ 0.97 | $ 0.91 | $ 0.84 | $ 1.11 | $ 0.92 | $ 4.38 | [1] | $ 3.63 | [1] | $ 2.85 | [1] |
[1] | ________________________(1) Earnings per share may not add due to rounding. |
Subsequent Events (Details)
Subsequent Events (Details) $ / shares in Units, $ in Millions | 2 Months Ended | 3 Months Ended | 4 Months Ended | 12 Months Ended | |||||
Nov. 29, 2017USD ($)restaurant | Oct. 01, 2017restaurant$ / shares | Jul. 09, 2017$ / shares | Apr. 16, 2017$ / shares | Jan. 21, 2018$ / shares | Jan. 22, 2017$ / shares | Oct. 01, 2017restaurant$ / shares | Oct. 02, 2016restaurant$ / shares | Sep. 27, 2015restaurant$ / shares | |
Subsequent Event [Line Items] | |||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.40 | $ 0.40 | $ 0.40 | $ 0.40 | $ 1.60 | $ 1.20 | $ 1 | ||
Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Common Stock, Dividends, Per Share, Declared | $ / shares | $ 0.40 | ||||||||
Jack in the box brand restaurant operations [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Number of Restaurants | restaurant | 2,251 | 2,251 | 2,255 | 2,249 | |||||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Jack in the box brand restaurant operations [Member] | Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Number of Restaurants | restaurant | 21 | ||||||||
Minimum [Member] | Jack in the box brand restaurant operations [Member] | Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Estimated Pre-Tax Proceeds from Sale to Franchisees | $ | $ 12 | ||||||||
Maximum [Member] | Jack in the box brand restaurant operations [Member] | Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | |||||||||
Estimated Pre-Tax Proceeds from Sale to Franchisees | $ | $ 13 |