Document and Entity Information
Document and Entity Information | 3 Months Ended | |
Apr. 03, 2016State | Apr. 25, 2016shares | |
Entity Information [Line Items] | ||
Number of States in which Entity Operates | State | 47 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Apr. 3, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | CEC | |
Entity Registrant Name | CEC ENTERTAINMENT INC | |
Entity Central Index Key | 813,920 | |
Current Fiscal Year End Date | --01-03 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | shares | 200 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Apr. 03, 2016 | Jan. 03, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 69,998,000 | $ 50,654,000 |
Restricted Cash and Cash Equivalents, Current | 4,142,000 | 0 |
Accounts receivable | 17,658,000 | 25,936,000 |
Inventories | 26,425,000 | 23,275,000 |
Prepaid expenses | 20,830,000 | 18,223,000 |
Total current assets | 139,053,000 | 118,088,000 |
Property and equipment, net | 613,637,000 | 629,047,000 |
Goodwill | 483,876,000 | 483,876,000 |
Intangible assets, net | 487,068,000 | 488,095,000 |
Other noncurrent assets | 20,276,000 | 13,929,000 |
Total assets | 1,743,910,000 | 1,733,035,000 |
Current liabilities: | ||
Bank indebtedness and other long-term debt | 7,656,000 | 7,650,000 |
Capital lease obligations | 435,000 | 421,000 |
Accounts payable | 35,580,000 | 44,090,000 |
Accrued expenses | 52,156,000 | 38,284,000 |
Unearned revenues | 10,555,000 | 10,233,000 |
Accrued interest | 3,912,000 | 9,757,000 |
Other current liabilities | 3,780,000 | 3,678,000 |
Total current liabilities | 114,074,000 | 114,113,000 |
Capital lease obligations, less current portion | 14,934,000 | 15,044,000 |
Bank indebtedness and other long-term debt, less current portion | 970,556,000 | 971,333,000 |
Deferred tax liability | 193,584,000 | 201,734,000 |
Accrued insurance | 9,485,000 | 9,737,000 |
Other noncurrent liabilities | 213,890,000 | 212,528,000 |
Total liabilities | 1,516,523,000 | 1,524,489,000 |
Stockholder’s equity: | ||
Common stock | 0 | 0 |
Capital in excess of par value | 356,632,000 | 356,460,000 |
Retained earnings (deficit) | (126,683,000) | (144,598,000) |
Accumulated other comprehensive income (loss) | (2,562,000) | (3,316,000) |
Total stockholder’s equity | 227,387,000 | 208,546,000 |
Total liabilities and stockholder’s equity | 1,743,910,000 | 1,733,035,000 |
Successor [Member] | ||
Current liabilities: | ||
Bank indebtedness and other long-term debt, less current portion | 970,556,000 | 971,333,000 |
Common Stock [Member] | ||
Stockholder’s equity: | ||
Common stock | 0 | 0 |
Additional Paid-in Capital [Member] | ||
Stockholder’s equity: | ||
Capital in excess of par value | 356,632,000 | |
Retained Earnings [Member] | ||
Stockholder’s equity: | ||
Retained earnings (deficit) | (126,683,000) | |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Stockholder’s equity: | ||
Accumulated other comprehensive income (loss) | (2,562,000) | |
Stockholders' Equity, Total [Member] | ||
Stockholder’s equity: | ||
Total stockholder’s equity | $ 227,387,000 | $ 208,546,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - Successor [Member] - $ / shares | Sep. 27, 2015 | Dec. 28, 2014 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 200 | 200 |
Treasury stock, shares | 0 | 0 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
REVENUES: | ||
Food and beverage sales | $ 122,202 | $ 116,537 |
Entertainment and merchandise sales | 147,557 | 144,744 |
Total company store sales | 269,759 | 261,281 |
Franchise fees and royalties | 4,559 | 4,227 |
Total revenues | 274,318 | 265,508 |
Company store operating costs: | ||
Cost of food and beverage (exclusive of items shown separately below) | 30,521 | 29,225 |
Cost of entertainment and merchandise (exclusive of items shown separately below) | 8,750 | 8,522 |
Total cost of food, beverage, entertainment and merchandise | 39,271 | 37,747 |
Labor expenses | 69,043 | 67,173 |
Depreciation and amortization | 27,629 | 29,241 |
Rent expense | 24,150 | 24,458 |
Other store operating expenses | 36,010 | 33,519 |
Total company store operating costs | 196,103 | 192,138 |
Other costs and expenses: | ||
Advertising expense | 13,100 | 11,452 |
General and administrative expenses | 18,018 | 16,326 |
Transaction and severance costs | 749 | 905 |
Total operating costs and expenses | 227,970 | 220,821 |
Operating income (loss) | 46,348 | 44,687 |
Interest Income (Expense), Net | 17,061 | 17,499 |
Income (loss) before income taxes | 29,287 | 27,188 |
Income tax expense (benefit) | 11,372 | 12,446 |
Net income (loss) | 17,915 | 14,742 |
Weighted average common shares outstanding: | ||
Comprehensive income (loss) | 18,669 | 13,100 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ 754 | $ (1,642) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |||
Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | |
Net income (loss) | $ 17,915 | $ 14,742 | ||
Components of other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustments | 754 | (1,642) | ||
Comprehensive income (loss) | $ 18,669 | $ 13,100 | ||
Successor [Member] | ||||
Net income (loss) | $ 0 | $ 0 | ||
Components of other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustments | 0 | 0 | ||
Total components of other comprehensive income (loss), net of tax | 0 | 0 | ||
Comprehensive income (loss) | $ 0 | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 17,915 | $ 14,742 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 28,998 | 30,398 |
Deferred income taxes | (8,287) | (13,268) |
Stock-based compensation expense | 135 | 391 |
Amortization of lease related liabilities | 12 | 5 |
Amortization of original issue discount and deferred debt financing costs | 1,136 | 1,137 |
Loss on asset disposals, net | 2,177 | 1,244 |
Noncash Rent Expense | 1,730 | 2,136 |
Other adjustments | 27 | 19 |
Changes in operating assets and liabilities: | ||
Inventories | (3,287) | 880 |
Prepaid expenses | (1,899) | (752) |
Accounts payable | (7,551) | (1,230) |
Accrued expenses | 165 | 1,512 |
Other liabilities | 316 | 309 |
Income taxes payable | (5,951) | (5,326) |
Deferred rent liability | 16,717 | 25,551 |
Increase (Decrease) Lease Related Liabilities | 550 | 408 |
Net Cash Provided by (Used in) Operating Activities | 43,772 | 60,548 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of property and equipment | (18,823) | (16,109) |
Payments to acquire franchisee | 0 | 0 |
Payments to Develop Software | (3,625) | (185) |
Proceeds from Sale of Property, Plant, and Equipment | 79 | 97 |
Payments for (Proceeds from) Other Investing Activities | 0 | 0 |
Net cash used in investing activities | (22,369) | (16,860) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayments of Notes Payable | (7) | |
Repayments on senior term loan | (1,900) | (1,900) |
Repayments on note payable | (11) | |
Payments on capital lease obligations | (101) | (100) |
Sale Leaseback Transaction, Payments, Financing Activities | (474) | (386) |
Dividends paid | (386) | |
Excess tax benefit realized from stock-based compensation | 4 | 0 |
Net cash provided by (used in) financing activities | (2,478) | (2,397) |
Effect of foreign exchange rate changes on cash | 419 | (661) |
Change in cash and cash equivalents | 19,344 | 40,630 |
Cash and cash equivalents at beginning of period | 50,654 | 110,994 |
Cash and cash equivalents at end of period | 69,998 | 151,624 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | 21,994 | 21,734 |
Income taxes paid, net | 2,949 | 183 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Accrued construction costs | 783 | 2,870 |
Increase (Decrease) in Restricted Cash | (4,142) | 0 |
Increase (Decrease) in Receivables | $ (5,011) | $ (2,392) |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
Sale Leaseback Transaction, Payments, Financing Activities | $ 474 | $ 386 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 03, 2016 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies: | Description of Business and Summary of Significant Accounting Policies: Description of Business The use of the terms “CEC Entertainment,” the “Company,” “we,” “us” and “our” throughout these unaudited notes to the interim Consolidated Financial Statements refer to CEC Entertainment, Inc. and its subsidiaries. We currently operate and franchise Chuck E. Cheese’s and Peter Piper Pizza family dining and entertainment centers (also referred to as “stores”) in a total of 47 states and 12 foreign countries and territories. Our stores provide our guests with a variety of family entertainment and dining alternatives. All of our stores utilize a consistent restaurant-entertainment format that features both family dining and entertainment areas with the same general mix of food, beverages, entertainment and merchandise. The economic characteristics, products and services, preparation processes, distribution methods and types of customers are substantially similar for each of our stores. Therefore, we aggregate each store’s operating performance into one reportable segment for financial reporting purposes. Basis of Presentation The Company has a controlling financial interest in International Association of CEC Entertainment, Inc. (the “Association”), a VIE. The Association primarily administers the collection and disbursement of funds (the “Association Funds”) used for advertising, entertainment and media programs that benefit both us and our Chuck E. Cheese’s franchisees. We and our franchisees are required to contribute a percentage of gross sales to these funds and could be required to make additional contributions to fund any deficits that may be incurred by the Association. We include the Association in our Consolidated Financial Statements, as we concluded that we are the primary beneficiary of its variable interests because we (a) have the power to direct the majority of its significant operating activities; (b) provide it unsecured lines of credit; and (c) own the majority of the stores that benefit from the Association’s advertising, entertainment and media expenditures. The assets, liabilities and operating results of the Association are not material to our Consolidated Financial Statements. Because the Association Funds are required to be segregated and used for specified purposes, we do not reflect franchisee contributions to the Association Funds as revenue, but rather record franchisee contributions as an offset to reported advertising expenses. Our contributions to the Association Funds are eliminated in consolidation. Contributions to the advertising, entertainment and media funds from our franchisees were $0.6 million for both the three months ended April 3, 2016 and March 29, 2015 . Cash balances held by the Association are restricted for use in our advertising, entertainment and media programs, and are recorded as “Restricted cash” on our Consolidated Balance Sheets at April 3, 2016 . The preparation of these unaudited Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim Financial Statements The accompanying Consolidated Financial Statements as of April 3, 2016 and for the three months ended April 3, 2016 and March 29, 2015 are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and, consequently, do not include all of the information and footnote disclosures required by GAAP. In the opinion of management, the Consolidated Financial Statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of its consolidated results of operations, financial position and cash flows as of the dates and for the periods presented in accordance with GAAP and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Our Consolidated Financial Statements include all necessary reclassification adjustments to conform prior year results to the current period presentation. We reclassified $0.9 million of litigation costs related to the Merger (as defined in Note 7. “Commitments and Contingencies”) in our Consolidated Statement of Earnings for the three months ended March 29, 2015 from “General and administrative expenses” to “Transaction, severance and litigation related costs” to conform to the current period’s presentation. Consolidated results of operations for interim periods are not necessarily indicative of results for the full year. The unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 3, 2016 , filed with the SEC on March 2, 2016 . |
Property and Equipment
Property and Equipment | 3 Months Ended |
Apr. 03, 2016 | |
Property, Plant and Equipment [Line Items] | |
Property and Equipment | Asset Impairments There were no impairment charges recognized during the three months ended April 3, 2016 and March 29, 2015 , respectively. |
Property and Equipment | Property and Equipment: Total depreciation and amortization expense was $29.0 million and $30.4 million for the three months ended April 3, 2016 and March 29, 2015 , respectively, of which $1.4 million and $1.0 million , respectively, was included in “General and administrative expenses” in our Consolidated Statements of Earnings. Total depreciation and amortization expense for both the three months ended April 3, 2016 and March 29, 2015 , includes approximately $0.5 million related to the amortization of franchise agreements (see Note 3. “Intangible Assets, Net”). |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Apr. 03, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | Intangible Assets, Net: The following table presents our indefinite and definite-lived intangible assets at April 3, 2016 : Weighted Average Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in thousands) Chuck E. Cheese's tradename Indefinite $ 400,000 $ — $ 400,000 Peter Piper Pizza tradename Indefinite 26,700 — 26,700 Favorable lease agreements (1) 10 14,880 (4,200 ) 10,680 Franchise agreements 25 53,300 (3,612 ) 49,688 $ 494,880 $ (7,812 ) $ 487,068 __________________ (1) In connection with the Merger and the acquisition of Peter Piper Pizza (“PPP”), we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million , respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years , and are included in “Rent expense” in our Consolidated Statements of Earnings. Amortization expense related to favorable lease agreements was $0.5 million for both the three months ended April 3, 2016 and March 29, 2015 , and is included in “Rent expense” in our Consolidated Statements of Earnings. Amortization expense related to franchise agreements was $0.5 million for both the three months ended April 3, 2016 and March 29, 2015 , and is included in “General and administrative expenses” in our Consolidated Statements of Earnings. |
Accounts Payable (Notes)
Accounts Payable (Notes) | 3 Months Ended |
Apr. 03, 2016 | |
Notes Payable, Other Payables [Member] | |
Accounts Payable [Line Items] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Accounts payable consisted of the following as of the dates presented: April 3, 2016 January 3, 2016 (in thousands) Trade and other amounts payable $ 27,085 $ 35,228 Book overdraft 8,495 8,862 Accounts Payable $ 35,580 $ 44,090 Trade and other amounts payable represents amounts payable to our vendors, legal fee accruals and settlements payable. The book overdraft balance represents checks issued but not yet presented to banks. |
Indebtedness and Interest Expen
Indebtedness and Interest Expense | 3 Months Ended |
Apr. 03, 2016 | |
Debt Disclosure [Abstract] | |
Indebtedness and Interest Expense | Indebtedness and Interest Expense: Our long-term debt consisted of the following for the periods presented: April 3, January 3, (in thousands) Term loan facility $ 744,800 $ 746,700 Senior notes 255,000 255,000 Note payable 56 63 Total debt outstanding 999,856 1,001,763 Less: Unamortized original issue discount (2,641 ) (2,776 ) Deferred financing costs, net (19,003 ) (20,004 ) Current portion (7,656 ) (7,650 ) Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion $ 970,556 $ 971,333 We were in compliance with the debt covenants in effect as of April 3, 2016 for both the Secured Credit Facilities and the senior notes. For further discussion regarding the debt covenants, see Secured Credit Facilities and Senior Unsecured Debt sections below. Secured Credit Facilities As of April 3, 2016 , we had $744.8 million (excluding the original issue discount) outstanding under the Term loan facility, no borrowings outstanding under the revolving credit facility and $10.9 million of letters of credit issued but undrawn. The Secured Credit Facilities require scheduled quarterly payments on the term loan equal to 0.25% of the original principal amount of the Term loan from July 2014 to December 2020 , with the remaining balance paid at maturity, February 14, 2021 . Effective April 8, 2016, the balance of our letters of credit issued but undrawn was reduced to $9.9 million . The term loan was issued net of $3.8 million of original issue discount. We also paid $17.8 million and $3.4 million in debt financing costs related to the term loan facility and revolving credit facility, respectively, which we capitalized in “Bank indebtedness and other long-term debt, net of deferred financing costs” on our Consolidated Balance Sheets. The original issue discount and deferred financing costs are amortized over the lives of the facilities and are included in “Interest expense” on our Consolidated Statements of Earnings. Borrowings under the Secured Credit Facilities bear interest at a rate equal to, at our option, either (a) a London Interbank Offered Rate (“LIBOR”) determined by reference to the costs of funds for Eurodollar deposits for the interest period relevant to such borrowings, adjusted for certain additional costs, subject to a 1.00% floor in the case of term loans or (b) a base rate determined by reference to the highest of (i) the federal funds effective rate plus 0.50% ; (ii) the prime rate of Deutsche Bank AG New York Branch; and (iii) the one-month adjusted LIBOR plus 1.00% , in each case plus an applicable margin. Effective March 4, 2016, the applicable margin for borrowings under the term loan facility stepped down from 3.25% to 3.00% , the applicable margin for borrowings under the revolving credit facility stepped down from 3.25% to 3.00% , and the applicable unused commitment fee rate stepped down from 0.5% to 0.375% based on our first lien senior secured leverage ratio. During the three months ended April 3, 2016 , the federal funds rate ranged from 0.25% to 0.38% , the prime rate was 3.25% and the one-month LIBOR ranged from 0.42% to 0.44% . The weighted average effective interest rate incurred on our borrowings under our Secured Credit Facilities was 4.7% and 4.6% for the three months ended April 3, 2016 and March 29, 2015 , respectively, which includes amortization of debt issuance costs related to our Secured Credit Facilities, amortization of our term loan facility original issue discount and commitment and other fees related to our Secured Credit Facilities. As of April 3, 2016 , the borrowings under the revolving credit facility were less than 30% of the outstanding commitments; therefore, the springing financial maintenance covenant under our revolving credit facility was not in effect. Senior Unsecured Debt Our $255.0 million aggregate principal amount borrowings of 8.000% Senior Notes due 2022 (the “senior notes”) bear interest at a rate of 8.000% per year and mature on February 15, 2022. Our obligations under the senior notes are fully and unconditionally guaranteed, jointly and severally, by our present and future direct and indirect wholly-owned material domestic subsidiaries that guarantee our Secured Credit Facilities. The weighted average effective interest rate incurred on borrowings under our senior notes was 8.3% for both the three months ended April 3, 2016 and the three months ended March 29, 2015 , which included amortization of debt issuance costs and other fees related to our senior notes. Interest Expense Interest expense consisted of the following for the periods presented: Three Months Ended April 3, 2016 March 29, 2015 (in thousands) Term loan facility (1) $ 8,157 $ 7,907 Senior notes 5,157 5,157 Capital lease obligations 440 455 Sale leaseback obligations 2,758 2,783 Amortization of debt issuance costs 1,001 1,001 Other (452 ) 196 Total interest expense $ 17,061 $ 17,499 __________________ (1) Includes amortization of original issue discount. The weighted average effective interest rate incurred on our combined borrowings under our Secured Credit Facilities and senior notes was 5.6% and 5.5% for the three months ended April 3, 2016 , and March 29, 2015 , respectively. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Apr. 03, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments: The following table presents information on our financial instruments as of the periods presented: April 3, 2016 January 3, 2016 Carrying Amount (1) Estimated Fair Value Carrying Amount (1) Estimated Fair Value (in thousands) Financial Liabilities: Bank indebtedness and other long-term debt, less current portion $ 989,559 $ 920,101 $ 991,337 $ 962,600 _________________ (1) Excluding net deferred financing costs Our financial instruments consist of cash and cash equivalents, restricted cash, accounts receivable, accounts payable, our Secured Credit Facilities and our senior notes. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short maturities. The estimated fair value of our Secured Credit Facilities' term loan and senior notes was determined by using estimated market prices of our outstanding borrowings under our term loan facility and the senior notes, which are classified as Level 2 in the fair value hierarchy. During the three months ended April 3, 2016 and March 29, 2015 , there were no significant transfers among level 1, 2 or 3 fair value determinations. |
Other Non-current Liabilities
Other Non-current Liabilities | 3 Months Ended |
Mar. 29, 2015 | |
Other Liabilities Disclosure [Abstract] | |
Other Noncurrent Liabilities | Other Non-current Liabilities: Other non-current liabilities consisted of the following: March 29, 2015 December 28, 2014 (in thousands) Sale leaseback obligations, less current portion $ — Deferred rent liability 7,847 Deferred landlord contributions 981 Long-term portion of unfavorable leases 10,942 Other 4,332 Total other non-current liabilities $ — $ 24,102 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 03, 2016 | |
Loss Contingencies [Line Items] | |
Commitments and Contingencies | Legal Proceedings From time to time, we are involved in various inquiries, investigations, claims, lawsuits and other legal proceedings that are incidental to the conduct of our business. These matters typically involve claims from customers, employees or other third parties involved in operational issues common to the retail, restaurant and entertainment industries. Such matters typically represent actions with respect to contracts, intellectual property, taxation, employment, employee benefits, personal injuries and other matters. A number of such claims may exist at any given time, and there are currently a number of claims and legal proceedings pending against us. In the opinion of our management, after consultation with legal counsel, the amount of liability with respect to claims or proceedings currently pending against us is not expected to have a material effect on our consolidated financial condition, results of operations or cash flows. All necessary loss accruals based on the probability and estimate of loss have been recorded. Employment-Related Litigation: On January 27, 2014, former CEC employee Franchesca Ford filed a purported class action lawsuit against the Company in San Francisco County Superior Court, California (the “Ford Litigation”). The plaintiff claims to represent other similarly-situated hourly non-exempt employees and former employees of the Company in California who were employed from January 27, 2010 to the present, and she alleges violations of California state wage and hour laws. In March 2014, the Company removed the Ford Litigation to the U.S. District Court for the Northern District of California, San Francisco Division, and subsequently defeated the plaintiff’s motion to remand the case to California state court. In May 2015, the parties reached an agreement to settle the lawsuit on a class-wide basis. The settlement would result in the plaintiffs’ dismissal of all claims asserted in the action, as well as certain related but unasserted claims, and grant of complete releases, in exchange for the Company’s settlement payment. On March 24, 2016, the Court issued an order granting preliminary approval of the class settlement and setting a final approval hearing regarding the settlement for August 2016. The settlement of this action will not have a material adverse effect on our results of operations, financial position, liquidity or capital resources. On October 10, 2014, former store General Manager Richard Sinohui filed a purported class action lawsuit against the Company in the Superior Court of California, Riverside County (the “Sinohui Litigation”), claiming to represent other similarly-situated current and former General Managers of the Company in California during the period October 10, 2010 to the present. The lawsuit alleges CEC wrongfully classified current and former California General Managers as exempt from overtime protections, that such General Managers worked more than 40 hours a week without overtime premium pay, paid rest periods and paid meal periods, and that the Company failed to provide accurate itemized wage statements or to pay timely wages upon separation from employment, in violation of the California Labor Code, California Business and Professions Code, and the applicable Wage Order issued by the California Industrial Welfare Commission. Additionally, the plaintiff alleged that the Company failed to reimburse General Managers for certain business expenses, including for personal cell phone usage and mileage, in violation of the California Labor Code; he also asserted a claim for civil penalties under the California Private Attorneys General Act (“PAGA”). The plaintiff seeks an unspecified amount in damages. On December 5, 2014, the Company removed the Sinohui Litigation to the U.S. District Court for the Central District of California, Southern Division. On March 16, 2016, the Court issued an order denying in part and granting in part Plaintiff’s Motion for Class Certification. Specifically, the Court denied Plaintiff’s motion to the extent that he sought to certify a class on Plaintiff’s misclassification and wage statement claims, but certified a class with respect to Plaintiff’s claims that the Company had wrongfully failed to reimburse him for cell phone expenses and/or mileage. The Sinohui Litigation is set for trial in August 2016. We believe the Company has meritorious defenses to this lawsuit and we intend to vigorously defend it. While no assurance can be given as to the ultimate outcome of this matter, we currently believe that the final resolution of this action will not have a material adverse effect on our results of operations, financial position, liquidity or capital resources. Litigation Related to the Merger: Following the January 16, 2014 announcement that the Company had entered into a merger agreement (the “Merger Agreement”), pursuant to which an entity controlled by Apollo Global Management, LLC and its subsidiaries merged with and into CEC Entertainment Inc., with CEC Entertainment Inc. surviving the merger (the “Merger”), four putative shareholder class actions were filed in the District Court of Shawnee County, Kansas, on behalf of purported stockholders of the Company, against the Company, its directors, Apollo, Parent and Merger Sub, in connection with the Merger Agreement and the transactions contemplated thereby. These actions were consolidated into one action in March 2014. On July 21, 2015, a consolidated class action petition was filed as the operative consolidated complaint, asserting claims against CEC and its former directors, adding The Goldman Sachs Group (“Goldman Sachs”) as a defendant, and removing all Apollo entities as defendants (“Consolidated Class Action Petition”). The Consolidated Class Action Petition alleges that the Company’s directors breached their fiduciary duties to the Company’s stockholders in connection with their consideration and approval of the Merger Agreement by, among other things, conducting a deficient sales process, agreeing to an inadequate tender price, agreeing to certain provisions in the Merger Agreement, and filing materially deficient disclosures regarding the transaction. The Consolidated Class Action Petition also alleges that two members of the Company’s board who also served as the senior managers of the Company had material conflicts of interest and that Goldman Sachs aided and abetted the board’s breaches as a result of various conflicts of interest facing the bank. The Consolidated Class Action Petition seeks, among other things, to recover damages, attorneys’ fees and costs. On March 23, 2016, the Court conducted a hearing on the defendants’ Motion to Dismiss the Consolidated Class Action Petition, and the parties are currently awaiting the Court’s ruling. The Court has not yet set this case for trial. The Company believes the Consolidated Class Action Petition is without merit and intends to defend it vigorously. While no assurance can be given as to the ultimate outcome of the consolidated matter, we currently believe that the final resolution of the action will not have a material adverse effect on our results of operations, financial position, liquidity or capital resources. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 03, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes: | Income Taxes: Our income tax expense consists of the following for the periods presented: Three Months Ended April 3, 2016 March 29, 2015 (in thousands, except %) Federal and state income taxes $ 11,263 $ 12,174 Foreign income taxes 109 272 Income tax expense (1) $ 11,372 $ 12,446 Effective rate 38.8 % 45.8 % _________________ (1) Including foreign taxes withheld. Our effective income tax rate of 38.8% for the three months ended April 3, 2016 differs from the statutory rate primarily due to the favorable impact of employment related federal income tax credits partially offset by the impact of non-deductible litigation costs related to the Merger. Our effective income tax rate of 45.8% for the three months ended March 29, 2015 differs from the statutory rate primarily due to the unfavorable impact of non-deductible litigation and settlement costs related to the Merger, partially offset by benefits stemming from employment related income tax credits. Our liability for uncertain tax positions (excluding interest and penalties) was $3.4 million and $3.3 million as of April 3, 2016 and January 3, 2016 , respectively, and if recognized would decrease our provision for income taxes by $1.3 million . Within the next twelve months, we could settle or otherwise conclude income tax audits. As such, it is reasonably possible that the liability for uncertain tax positions could decrease by as much as $0.2 million as a result of settlements with certain taxing authorities and expiring statutes of limitations within the next twelve months. Total accrued interest and penalties related to unrecognized tax benefits as of April 3, 2016 and January 3, 2016 , was $0.8 million and $1.7 million , respectively. On the Consolidated Balance Sheets, we include current interest related to unrecognized tax benefits in “Accrued interest,” current penalties in “Accrued expenses” and noncurrent accrued interest and penalties in “Other noncurrent liabilities.” |
Stock-Based Compensation Arrang
Stock-Based Compensation Arrangements | 3 Months Ended |
Apr. 03, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block] | A summary of the option activity under the equity incentive plan as of April 3, 2016 and the activity for the three months ended April 3, 2016 is presented below: Stock Options Weighted Average Exercise Price (1) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($ per share) ($ in thousands) Outstanding stock options, January 3, 2016 2,393,084 $8.59 Options Granted 101,110 $12.51 Options Exercised (13,399 ) $8.86 Options Forfeited (11,185 ) $10.91 Outstanding stock options, April 3, 2016 2,469,610 $8.78 8.14 10,141 Stock options expected to vest, April 3, 2016 2,222,650 $8.78 8.14 9,127 Exercisable stock options, April 3, 2016 327,726 $8.32 7.92 2,861 __________________ (1) The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015. |
Stock-Based Compensation Arrangements | The following table summarizes stock-based compensation expense and the associated tax benefit recognized in the Consolidated Financial Statements for the periods presented: Three Months Ended April 3, March 29, (in thousands) Stock-based compensation costs $ 168 $ 395 Portion capitalized as property and equipment (1) (33 ) (4 ) Stock-based compensation expense recognized $ 135 $ 391 Excess tax benefit recognized from exercise of stock-based compensation awards $ 4 $ — __________________ (1) We capitalize the portion of stock-based compensation costs related to our design, construction, facilities and legal departments that are directly attributable to our store development projects, such as the design and construction of a new store and the remodeling and expansion of our existing stores. Capitalized stock-based compensation cost attributable to our store development projects is included in “Property and equipment, net” in the Consolidated Balance Sheets. |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Apr. 03, 2016 | |
Equity [Abstract] | |
Stockholders’ Equity: | Stockholder’s Equity: The following table summarizes the changes in stockholder’s equity during the three months ended April 3, 2016 : Common Stock Capital In Retained Accumulated Shares Amount Total (in thousands, except share information) Balance at January 3, 2016 200 $ — $ 356,460 $ (144,598 ) $ (3,316 ) $ 208,546 Net income (loss) — — — 17,915 — 17,915 Other comprehensive income (loss) — — — — 754 754 Stock-based compensation costs — — 168 — — 168 Excess tax benefit realized from exercise of stock options — — 4 — — 4 Balance at April 3, 2016 200 $ — $ 356,632 $ (126,683 ) $ (2,562 ) $ 227,387 |
Condensed Consolidating Schedul
Condensed Consolidating Schedules | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Condensed Consolidating Financial Statements | Consolidating Guarantor Financial Information: The senior notes issued by CEC Entertainment, Inc. (the “Issuer”) in conjunction with the Merger are our unsecured obligations and are fully and unconditionally, jointly and severally guaranteed by all of our 100% wholly-owned U.S. subsidiaries (the “Guarantors”). Our wholly-owned foreign subsidiaries and our less-than-wholly-owned U.S. subsidiaries are not a party to the guarantees (the “Non-Guarantors”). The following schedules present the condensed consolidating financial statements of the Issuer, Guarantors and Non-Guarantors, as well as consolidated results, for the periods presented: CEC Entertainment, Inc. Condensed Consolidating Balance Sheet As of April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Current assets: Cash and cash equivalents $ 61,106 $ 2,217 $ 6,675 $ — $ 69,998 Restricted cash — — 4,142 — 4,142 Accounts receivable 14,416 2,811 8,944 (8,513 ) 17,658 Inventories 23,031 3,087 307 — 26,425 Other current assets 14,608 4,219 2,003 — 20,830 Total current assets 113,161 12,334 22,071 (8,513 ) 139,053 Property and equipment, net 570,343 34,587 8,707 — 613,637 Goodwill 432,462 51,414 — — 483,876 Intangible assets, net 21,156 465,912 — — 487,068 Intercompany 129,033 27,913 — (156,946 ) — Investment in subsidiaries 422,049 — — (422,049 ) — Other noncurrent assets 7,692 11,965 619 — 20,276 Total assets $ 1,695,896 $ 604,125 $ 31,397 $ (587,508 ) $ 1,743,910 Current liabilities: Bank indebtedness and other long-term debt, current portion $ 7,600 $ 56 $ — $ — $ 7,656 Capital lease obligations, current portion 430 — 5 — 435 Accounts payable and accrued expenses 80,532 13,381 8,290 — 102,203 Other current liabilities 3,452 328 — — 3,780 Total current liabilities 92,014 13,765 8,295 — 114,074 Capital lease obligations, less current portion 14,867 — 67 — 14,934 Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion 970,556 — — — 970,556 Deferred tax liability 178,014 16,991 (1,421 ) — 193,584 Intercompany 1,479 138,099 25,881 (165,459 ) — Other noncurrent liabilities 211,579 11,538 258 — 223,375 Total liabilities 1,468,509 180,393 33,080 (165,459 ) 1,516,523 Stockholder's equity: Common stock — — — — — Capital in excess of par value 356,632 466,114 3,241 (469,355 ) 356,632 Retained earnings (deficit) (126,683 ) (42,382 ) (2,362 ) 44,744 (126,683 ) Accumulated other comprehensive income (loss) (2,562 ) — (2,562 ) 2,562 (2,562 ) Total stockholder's equity 227,387 423,732 (1,683 ) (422,049 ) 227,387 Total liabilities and stockholder's equity $ 1,695,896 $ 604,125 $ 31,397 $ (587,508 ) $ 1,743,910 CEC Entertainment, Inc. Condensed Consolidating Balance Sheet As of January 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Current assets: Cash and cash equivalents $ 42,235 $ 1,797 $ 6,622 $ — $ 50,654 Accounts receivable 21,595 3,944 9,468 (9,071 ) 25,936 Inventories 19,959 3,021 295 — 23,275 Other current assets 13,562 3,561 1,100 — 18,223 Total current assets 97,351 12,323 17,485 (9,071 ) 118,088 Property and equipment, net 585,915 34,539 8,593 — 629,047 Goodwill 432,462 51,414 — — 483,876 Intangible assets, net 21,855 466,240 — — 488,095 Intercompany 129,151 30,716 — (159,867 ) — Investment in subsidiaries 422,407 — — (422,407 ) — Other noncurrent assets 4,318 8,940 671 — 13,929 Total assets $ 1,693,459 $ 604,172 $ 26,749 $ (591,345 ) $ 1,733,035 Current liabilities: Bank indebtedness and other long-term debt, current portion $ 7,600 $ 50 $ — $ — $ 7,650 Capital lease obligations, current portion 418 — 3 — 421 Accounts payable and accrued expenses 71,320 27,774 3,270 — 102,364 Other current liabilities 3,350 328 — — 3,678 Total current liabilities 82,688 28,152 3,273 — 114,113 Capital lease obligations, less current portion 14,980 — 64 — 15,044 Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion 971,320 13 — — 971,333 Deferred tax liability 184,083 17,867 (216 ) — 201,734 Intercompany 20,580 121,850 26,508 (168,938 ) — Other noncurrent liabilities 211,262 10,784 219 — 222,265 Total liabilities 1,484,913 178,666 29,848 (168,938 ) 1,524,489 Stockholder's equity: Common stock — — — — — Capital in excess of par value 356,460 466,114 3,241 (469,355 ) 356,460 Retained earnings (deficit) (144,598 ) (40,608 ) (3,024 ) 43,632 (144,598 ) Accumulated other comprehensive income (loss) (3,316 ) — (3,316 ) 3,316 (3,316 ) Total stockholder's equity 208,546 425,506 (3,099 ) (422,407 ) 208,546 Total liabilities and stockholder's equity $ 1,693,459 $ 604,172 $ 26,749 $ (591,345 ) $ 1,733,035 CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ 107,822 $ 12,788 $ 1,592 $ — $ 122,202 Entertainment and merchandise sales 139,208 5,598 2,751 — 147,557 Total company store sales 247,030 18,386 4,343 — 269,759 Franchise fees and royalties 598 3,961 — — 4,559 International Association assessments and other fees 255 615 11,958 (12,828 ) — Total revenues 247,883 22,962 16,301 (12,828 ) 274,318 Operating Costs and Expenses: Company store operating costs: Cost of food and beverage 26,644 3,297 580 — 30,521 Cost of entertainment and merchandise 8,119 445 186 — 8,750 Total cost of food, beverage, entertainment and merchandise 34,763 3,742 766 — 39,271 Labor expenses 63,734 3,999 1,310 — 69,043 Depreciation and amortization 26,563 607 459 — 27,629 Rent expense 22,257 1,333 560 — 24,150 Other store operating expenses 33,763 2,166 951 (870 ) 36,010 Total company store operating costs 181,080 11,847 4,046 (870 ) 196,103 Advertising expense 12,420 1,673 10,965 (11,958 ) 13,100 General and administrative expenses 7,183 10,659 176 — 18,018 Transaction, severance and related litigation costs 701 48 — — 749 Total operating costs and expenses 201,384 24,227 15,187 (12,828 ) 227,970 Operating income (loss) 46,499 (1,265 ) 1,114 — 46,348 Equity in earnings (loss) in affiliates (1,112 ) — — 1,112 — Interest expense (income) 16,602 351 108 — 17,061 Income (loss) before income taxes 28,785 (1,616 ) 1,006 1,112 29,287 Income tax expense (benefit) 10,870 165 337 — 11,372 Net income (loss) $ 17,915 $ (1,781 ) $ 669 $ 1,112 $ 17,915 Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments 754 — (754 ) 754 754 Comprehensive income (loss) $ 18,669 $ (1,781 ) $ (85 ) $ 1,866 $ 18,669 CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 29, 2015 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ 102,387 $ 12,316 $ 1,834 $ — $ 116,537 Entertainment and merchandise sales 137,510 4,110 3,124 — 144,744 Total company store sales 239,897 16,426 4,958 — 261,281 Franchise fees and royalties 805 3,422 — — 4,227 International Association assessments and other fees 286 662 8,653 (9,601 ) — Total revenues 240,988 20,510 13,611 (9,601 ) 265,508 Operating Costs and Expenses: Company store operating costs: Cost of food and beverage 25,390 3,244 591 — 29,225 Cost of entertainment and merchandise 7,620 753 149 — 8,522 Total cost of food, beverage, entertainment and merchandise 33,010 3,997 740 — 37,747 Labor expenses 61,732 3,930 1,511 — 67,173 Depreciation and amortization 27,619 1,114 508 — 29,241 Rent expense 22,303 1,494 661 — 24,458 Other store operating expenses 31,509 1,830 1,128 (948 ) 33,519 Total company store operating costs 176,173 12,365 4,548 (948 ) 192,138 Advertising expense 9,141 1,060 9,904 (8,653 ) 11,452 General and administrative expenses 4,893 11,316 117 — 16,326 Transaction, severance and related litigation costs — 905 — — 905 Total operating costs and expenses 190,207 25,646 14,569 (9,601 ) 220,821 Operating income (loss) 50,781 (5,136 ) (958 ) — 44,687 Equity in earnings (loss) in affiliates (7,769 ) — — 7,769 — Interest expense (income) 16,737 633 129 — 17,499 Income (loss) before income taxes 26,275 (5,769 ) (1,087 ) 7,769 27,188 Income tax expense (benefit) 11,533 1,328 (415 ) — 12,446 Net income (loss) $ 14,742 $ (7,097 ) $ (672 ) $ 7,769 $ 14,742 Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments (1,642 ) — (1,642 ) 1,642 (1,642 ) Comprehensive income (loss) $ 13,100 $ (7,097 ) $ (2,314 ) $ 9,411 $ 13,100 | CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended April 3, 2016 (in thousands) Successor Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ — $ — $ — $ — $ — Entertainment and merchandise sales — — — — — Total company store sales — — — — — Franchise fees and royalties — — — — — International Association assessments and other fees — — — — — Total revenues — — — — — Operating Costs and Expenses: Company store operating costs: Cost of food and beverage — — — — — Cost of entertainment and merchandise — — — — — Total cost of food, beverage, entertainment and merchandise — — — — — Labor expenses — — — — — Depreciation and amortization — — — — — Rent expense — — — — — Other store operating expenses — — — — — Total company store operating costs — — — — — Advertising expense — — — — — General and administrative expenses — — — — — Transaction and severance costs — — — — — Asset impairments — — — — — Total operating costs and expenses — — — — — Operating income (loss) — — — — — Equity in earnings (loss) in affiliates — — — — — Interest expense (income) — — — — — Income (loss) before income taxes — — — — — Income tax expense (benefit) — — — — — Net income (loss) $ — $ — $ — $ — $ — Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments $ — $ — $ — $ — $ — Total components of other comprehensive income (loss), net of tax — — — — — Comprehensive income (loss) $ — $ — $ — $ — $ — CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 28, 2014 (in thousands) Successor Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales Entertainment and merchandise sales Total company store sales — — — — — Franchise fees and royalties International Association assessments and other fees Total revenues — — — — — Operating Costs and Expenses: Company store operating costs: Cost of food and beverage Cost of entertainment and merchandise Total cost of food, beverage, entertainment and merchandise — — — — — Labor expenses Depreciation and amortization Rent expense Other store operating expenses Total company store operating costs — — — — — Advertising expense General and administrative expenses Transaction and severance costs Total operating costs and expenses — — — — — Operating income (loss) — — — — — Equity in earnings (loss) in affiliates — Interest expense (income) — Income (loss) before income taxes — — — — — Income tax expense (benefit) — Net income (loss) $ — $ — $ — $ — $ — Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments $ — Total components of other comprehensive income (loss), net of tax — — — — — Comprehensive income (loss) $ — $ — $ — $ — $ — CEC Entertainment, Inc. Consolidating Statement of Cash Flows For the Three Months Ended April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Cash flows provided by (used in) operating activities: $ 40,445 $ 3,662 $ (335 ) $ — $ 43,772 Cash flows from investing activities: Purchases of property and equipment (18,342 ) (451 ) (30 ) — (18,823 ) Development of internal use software (841 ) (2,784 ) — — (3,625 ) Proceeds from sale of property and equipment 79 — — — 79 Cash flows provided by (used in) investing activities (19,104 ) (3,235 ) (30 ) — (22,369 ) Cash flows from financing activities: Repayments on senior term loan (1,900 ) — — — (1,900 ) Repayments on note payable — (7 ) — — (7 ) Payments on capital lease obligations (100 ) — (1 ) — (101 ) Payments on sale leaseback transactions (474 ) — — — (474 ) Excess tax benefit realized from stock-based compensation 4 — — — 4 Cash flows provided by (used in) financing activities (2,470 ) (7 ) (1 ) — (2,478 ) Effect of foreign exchange rate changes on cash — — 419 — 419 Change in cash and cash equivalents 18,871 420 53 — 19,344 Cash and cash equivalents at beginning of period 42,235 1,797 6,622 — 50,654 Cash and cash equivalents at end of period $ 61,106 $ 2,217 $ 6,675 $ — $ 69,998 CEC Entertainment, Inc. Consolidating Statement of Cash Flows For the Three Months Ended March 29, 2015 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Cash flows provided by (used in) operating activities: $ 53,409 $ 2,476 $ 4,663 $ — $ 60,548 Cash flows from investing activities: Acquisition of Peter Piper Pizza (663 ) — — — (663 ) Intercompany note (96 ) 2,500 — (2,404 ) — Purchases of property and equipment (14,451 ) (1,023 ) (635 ) — (16,109 ) Development of internal use software — (185 ) — — (185 ) Proceeds from sale of property and equipment 97 — — — 97 Cash flows provided by (used in) investing activities (15,113 ) 1,292 (635 ) (2,404 ) (16,860 ) Cash flows from financing activities: Repayments on senior term loan (1,900 ) — — — (1,900 ) Repayments on Note Payable — (11 ) (11 ) Intercompany note — 96 (2,500 ) 2,404 — Payments on capital lease obligations (100 ) — — — (100 ) Payments on sale leaseback transactions (386 ) — — — (386 ) Cash flows provided by (used in) financing activities (2,386 ) 85 (2,500 ) 2,404 (2,397 ) Effect of foreign exchange rate changes on cash — — (661 ) — (661 ) Change in cash and cash equivalents 35,910 3,853 867 — 40,630 Cash and cash equivalents at beginning of period 97,020 6,427 7,547 — 110,994 Cash and cash equivalents at end of period $ 132,930 $ 10,280 $ 8,414 $ — $ 151,624 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 29, 2015 | |
Subsequent Event [Line Items] | |
Subsequent Events | Subsequent Events: |
Related Party Transactions (Not
Related Party Transactions (Notes) | 3 Months Ended |
Apr. 03, 2016 | |
Related Party Transaction [Line Items] | |
Related Party Transactions Disclosure [Text Block] | 12. Related Party Transactions: CEC Entertainment reimburses Apollo Management, L.P. for certain out-of-pocket expenses incurred in connection with travel and Board of Directors related expenses. Expense reimbursements by CEC Entertainment to Apollo totaled $0.5 million for the three months ended April 3, 2016 and are included in “General and administrative expenses” in our Consolidated Statements of Earnings. |
Description of Business and S22
Description of Business and Summary of Significant Accounting Policies (Policies) | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
Entity Information [Line Items] | ||
Business Description and Basis of Presentation [Text Block] | 1. Description of Business and Summary of Significant Accounting Policies: Description of Business The use of the terms “CEC Entertainment,” the “Company,” “we,” “us” and “our” throughout these unaudited notes to the interim Consolidated Financial Statements refer to CEC Entertainment, Inc. and its subsidiaries. We currently operate and franchise Chuck E. Cheese’s and Peter Piper Pizza family dining and entertainment centers (also referred to as “stores”) in a total of 47 states and 12 foreign countries and territories. Our stores provide our guests with a variety of family entertainment and dining alternatives. All of our stores utilize a consistent restaurant-entertainment format that features both family dining and entertainment areas with the same general mix of food, beverages, entertainment and merchandise. The economic characteristics, products and services, preparation processes, distribution methods and types of customers are substantially similar for each of our stores. Therefore, we aggregate each store’s operating performance into one reportable segment for financial reporting purposes. | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Description of Business and Summary of Significant Accounting Policies: Description of Business The use of the terms “CEC Entertainment,” the “Company,” “we,” “us” and “our” throughout these unaudited notes to the interim Consolidated Financial Statements refer to CEC Entertainment, Inc. and its subsidiaries. We currently operate and franchise Chuck E. Cheese’s and Peter Piper Pizza family dining and entertainment centers (also referred to as “stores”) in a total of 47 states and 12 foreign countries and territories. Our stores provide our guests with a variety of family entertainment and dining alternatives. All of our stores utilize a consistent restaurant-entertainment format that features both family dining and entertainment areas with the same general mix of food, beverages, entertainment and merchandise. The economic characteristics, products and services, preparation processes, distribution methods and types of customers are substantially similar for each of our stores. Therefore, we aggregate each store’s operating performance into one reportable segment for financial reporting purposes. Basis of Presentation The Company has a controlling financial interest in International Association of CEC Entertainment, Inc. (the “Association”), a VIE. The Association primarily administers the collection and disbursement of funds (the “Association Funds”) used for advertising, entertainment and media programs that benefit both us and our Chuck E. Cheese’s franchisees. We and our franchisees are required to contribute a percentage of gross sales to these funds and could be required to make additional contributions to fund any deficits that may be incurred by the Association. We include the Association in our Consolidated Financial Statements, as we concluded that we are the primary beneficiary of its variable interests because we (a) have the power to direct the majority of its significant operating activities; (b) provide it unsecured lines of credit; and (c) own the majority of the stores that benefit from the Association’s advertising, entertainment and media expenditures. The assets, liabilities and operating results of the Association are not material to our Consolidated Financial Statements. Because the Association Funds are required to be segregated and used for specified purposes, we do not reflect franchisee contributions to the Association Funds as revenue, but rather record franchisee contributions as an offset to reported advertising expenses. Our contributions to the Association Funds are eliminated in consolidation. Contributions to the advertising, entertainment and media funds from our franchisees were $0.6 million for both the three months ended April 3, 2016 and March 29, 2015 . Cash balances held by the Association are restricted for use in our advertising, entertainment and media programs, and are recorded as “Restricted cash” on our Consolidated Balance Sheets at April 3, 2016 . The preparation of these unaudited Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Interim Financial Statements The accompanying Consolidated Financial Statements as of April 3, 2016 and for the three months ended April 3, 2016 and March 29, 2015 are unaudited and are presented in accordance with the requirements for quarterly reports on Form 10-Q and, consequently, do not include all of the information and footnote disclosures required by GAAP. In the opinion of management, the Consolidated Financial Statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of its consolidated results of operations, financial position and cash flows as of the dates and for the periods presented in accordance with GAAP and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Our Consolidated Financial Statements include all necessary reclassification adjustments to conform prior year results to the current period presentation. We reclassified $0.9 million of litigation costs related to the Merger (as defined in Note 7. “Commitments and Contingencies”) in our Consolidated Statement of Earnings for the three months ended March 29, 2015 from “General and administrative expenses” to “Transaction, severance and litigation related costs” to conform to the current period’s presentation. Consolidated results of operations for interim periods are not necessarily indicative of results for the full year. The unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 3, 2016 , filed with the SEC on March 2, 2016 . | |
Basis of Presentation | Basis of Presentation The Company has a controlling financial interest in International Association of CEC Entertainment, Inc. (the “Association”), a VIE. The Association primarily administers the collection and disbursement of funds (the “Association Funds”) used for advertising, entertainment and media programs that benefit both us and our Chuck E. Cheese’s franchisees. We and our franchisees are required to contribute a percentage of gross sales to these funds and could be required to make additional contributions to fund any deficits that may be incurred by the Association. We include the Association in our Consolidated Financial Statements, as we concluded that we are the primary beneficiary of its variable interests because we (a) have the power to direct the majority of its significant operating activities; (b) provide it unsecured lines of credit; and (c) own the majority of the stores that benefit from the Association’s advertising, entertainment and media expenditures. The assets, liabilities and operating results of the Association are not material to our Consolidated Financial Statements. Because the Association Funds are required to be segregated and used for specified purposes, we do not reflect franchisee contributions to the Association Funds as revenue, but rather record franchisee contributions as an offset to reported advertising expenses. Our contributions to the Association Funds are eliminated in consolidation. Contributions to the advertising, entertainment and media funds from our franchisees were $0.6 million for both the three months ended April 3, 2016 and March 29, 2015 . Cash balances held by the Association are restricted for use in our advertising, entertainment and media programs, and are recorded as “Restricted cash” on our Consolidated Balance Sheets at April 3, 2016 . The preparation of these unaudited Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Acquisition | The Acquisition has been accounted for as a business combination using the acquisition method of accounting, whereby the purchase price was allocated to tangible and intangible assets acquired and liabilities assumed, based on their estimated fair market values on the Merger date. Fair value measurements have been applied based on assumptions that market participants would use in the pricing of the asset or liability. The purchase price allocation could change in subsequent periods, up to one year from the Merger date. Any subsequent changes to the purchase price allocation that result in material changes to our Consolidated Financial Statements will be adjusted retroactively. | |
Property and Equipment | Asset Impairments There were no impairment charges recognized during the three months ended April 3, 2016 and March 29, 2015 , respectively. | |
Recently Issued Accounting Guidance | Recently Issued Accounting Guidance Accounting Guidance Not Yet Adopted: In March 2016, The FASB issued ASU 2016-04, Liabilities - Extinguishments of Liabilities (Subtopic 405-20). This amendment provides a narrow scope exception to Liabilities - Extinguishment of Liabilities (Subtopic 405-20) that requires breakage for those liabilities to be accounted for in accordance with the breakage guidance in Revenue From Contracts With Customers (Topic 606) . There is currently no guidance in GAAP, or pending guidance, regarding the derecognition of prepaid stored-value product liabilities within the scope of the amendments in this Update. Under the new guidance, if an entity expects to be entitled to a breakage amount for a liability resulting from the sale of a prepaid stored-value product, the entity shall derecognize the amount related to the expected breakage in proportion to the pattern of rights expected to be exercised by the product holder only to the extent that it is probable that a significant reversal of the recognized breakage amount will not subsequently occur. If an entity does not expect to be entitled to a breakage amount for a prepaid stored-value product, the entity shall derecognize the amount related to the breakage when the likelihood of the product holder exercising its remaining rights becomes remote. This change to an entity’s estimated breakage amount shall be accounted for as a change in accounting estimate. The amendments in this Update are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. We are currently assessing the impact of adopting this new guidance on our Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718) . This amendment will require that (i) all excess tax benefits and deficiencies (including tax benefits of dividends on share-based payment awards) should be recognized as income tax expense or benefit on the income statement, (ii) the tax effects of exercised or vested awards should now be treated as discrete items in the reporting period in which they occur, and (iii) an entity should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period or not. On the statement of cash flows excess tax benefits should be classified along with other income tax cash flows as an operating activity. This amendment allows an entity to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. The threshold for an award to qualify for equity classification permits withholding up to the maximum statutory tax rate in applicable jurisdictions, and the cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. Nonpublic entities can make an accounting policy election to apply a practical expedient to estimate the expected term for all awards with performance or service conditions that meet certain conditions. For public entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. We are currently assessing the impact of adopting this new guidance on our Consolidated Financial Statements. |
Acquisition of CEC Entertainmen
Acquisition of CEC Entertainment, Inc. Pro Forma Information (Tables) | 3 Months Ended |
Mar. 29, 2015 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |
Business Acquisition, Pro Forma Information [Table Text Block] | This unaudited pro forma information should not be relied upon as necessarily being indicative of the historical results that would have been obtained if the Merger had actually occurred on those dates, nor of the results that may be obtained in the future. Three Months Ended Nine Months Ended September 28, September 29, September 28, September 29, (in thousands) Total revenues $ 274,318 $ 265,508 $ 642,082 $ — Net loss $ (11,003 ) $ (11,349 ) $ (3,268 ) $ (5,223 ) |
Acquisition of CEC Entertainm24
Acquisition of CEC Entertainment, Inc. schedule of net assets acquired (Tables) | 3 Months Ended |
Mar. 29, 2015 | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The following table summarizes the fair values assigned to the net assets acquired as of the February 14, 2014 acquisition date (in thousands): Cash consideration paid to shareholders $ 946,898 Fair value of assets acquired and liabilities assumed: Cash and cash equivalents 19,184 Accounts receivable 22,185 Inventories 21,696 Other current assets 16,463 Property, plant and equipment 718,066 Property under capital lease 15,530 Favorable lease interests 14,000 Chuck E. Cheese's tradename 400,000 Franchise agreements 14,000 Other non-current assets 9,872 Indebtedness (348,000 ) Capital Leases (15,530 ) Unfavorable lease interests (10,160 ) Deferred taxes (268,946 ) Other current and non-current liabilities (93,520 ) Net assets acquired 514,840 Excess purchase price allocated to goodwill $ 432,058 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Indefinite-Lived Intangible Assets | The following table presents our indefinite and definite-lived intangible assets at April 3, 2016 : Weighted Average Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in thousands) Chuck E. Cheese's tradename Indefinite $ 400,000 $ — $ 400,000 Peter Piper Pizza tradename Indefinite 26,700 — 26,700 Favorable lease agreements (1) 10 14,880 (4,200 ) 10,680 Franchise agreements 25 53,300 (3,612 ) 49,688 $ 494,880 $ (7,812 ) $ 487,068 __________________ (1) In connection with the Merger and the acquisition of Peter Piper Pizza (“PPP”), we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million , respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years , and are included in “Rent expense” in our Consolidated Statements of Earnings. |
Schedule of Finite-Lived Intangible Assets | The following table presents our indefinite and definite-lived intangible assets at April 3, 2016 : Weighted Average Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount (in thousands) Chuck E. Cheese's tradename Indefinite $ 400,000 $ — $ 400,000 Peter Piper Pizza tradename Indefinite 26,700 — 26,700 Favorable lease agreements (1) 10 14,880 (4,200 ) 10,680 Franchise agreements 25 53,300 (3,612 ) 49,688 $ 494,880 $ (7,812 ) $ 487,068 __________________ (1) In connection with the Merger and the acquisition of Peter Piper Pizza (“PPP”), we also recorded unfavorable lease liabilities of $10.2 million and $3.9 million , respectively, which are included in “Other current liabilities” and “Other noncurrent liabilities” in our Consolidated Balance Sheets. Such amounts are being amortized over a weighted average life of 10 years , and are included in “Rent expense” in our Consolidated Statements of Earnings. |
Indebtedness and Interest Exp26
Indebtedness and Interest Expense Indebtedness and Interest Expense (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Our long-term debt consisted of the following for the periods presented: April 3, January 3, (in thousands) Term loan facility $ 744,800 $ 746,700 Senior notes 255,000 255,000 Note payable 56 63 Total debt outstanding 999,856 1,001,763 Less: Unamortized original issue discount (2,641 ) (2,776 ) Deferred financing costs, net (19,003 ) (20,004 ) Current portion (7,656 ) (7,650 ) Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion $ 970,556 $ 971,333 |
Schedule of Interest Expense | Interest expense consisted of the following for the periods presented: Three Months Ended April 3, 2016 March 29, 2015 (in thousands) Term loan facility (1) $ 8,157 $ 7,907 Senior notes 5,157 5,157 Capital lease obligations 440 455 Sale leaseback obligations 2,758 2,783 Amortization of debt issuance costs 1,001 1,001 Other (452 ) 196 Total interest expense $ 17,061 $ 17,499 __________________ (1) Includes amortization of original issue discount. |
Fair Value of Financial Instr27
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value by Balance Sheet Grouping | The following table presents information on our financial instruments as of the periods presented: April 3, 2016 January 3, 2016 Carrying Amount (1) Estimated Fair Value Carrying Amount (1) Estimated Fair Value (in thousands) Financial Liabilities: Bank indebtedness and other long-term debt, less current portion $ 989,559 $ 920,101 $ 991,337 $ 962,600 |
Other Non-current Liabilities (
Other Non-current Liabilities (Tables) | 3 Months Ended |
Mar. 29, 2015 | |
Other Noncurrent Liabilities [Line Items] | |
Other Liabilities Disclosure [Text Block] | Other Non-current Liabilities: Other non-current liabilities consisted of the following: March 29, 2015 December 28, 2014 (in thousands) Sale leaseback obligations, less current portion $ — Deferred rent liability 7,847 Deferred landlord contributions 981 Long-term portion of unfavorable leases 10,942 Other 4,332 Total other non-current liabilities $ — $ 24,102 |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | Our income tax expense consists of the following for the periods presented: Three Months Ended April 3, 2016 March 29, 2015 (in thousands, except %) Federal and state income taxes $ 11,263 $ 12,174 Foreign income taxes 109 272 Income tax expense (1) $ 11,372 $ 12,446 Effective rate 38.8 % 45.8 % _________________ (1) Including foreign taxes withheld. |
Stock-Based Compensation Arra30
Stock-Based Compensation Arrangements (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block] | A summary of the option activity under the equity incentive plan as of April 3, 2016 and the activity for the three months ended April 3, 2016 is presented below: Stock Options Weighted Average Exercise Price (1) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($ per share) ($ in thousands) Outstanding stock options, January 3, 2016 2,393,084 $8.59 Options Granted 101,110 $12.51 Options Exercised (13,399 ) $8.86 Options Forfeited (11,185 ) $10.91 Outstanding stock options, April 3, 2016 2,469,610 $8.78 8.14 10,141 Stock options expected to vest, April 3, 2016 2,222,650 $8.78 8.14 9,127 Exercisable stock options, April 3, 2016 327,726 $8.32 7.92 2,861 __________________ (1) The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015. |
Schedule of Stock-Based Compensation Expense and Associated Tax Benefits Recognized | 9. Stock-Based Compensation Arrangements: A summary of the option activity under the equity incentive plan as of April 3, 2016 and the activity for the three months ended April 3, 2016 is presented below: Stock Options Weighted Average Exercise Price (1) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($ per share) ($ in thousands) Outstanding stock options, January 3, 2016 2,393,084 $8.59 Options Granted 101,110 $12.51 Options Exercised (13,399 ) $8.86 Options Forfeited (11,185 ) $10.91 Outstanding stock options, April 3, 2016 2,469,610 $8.78 8.14 10,141 Stock options expected to vest, April 3, 2016 2,222,650 $8.78 8.14 9,127 Exercisable stock options, April 3, 2016 327,726 $8.32 7.92 2,861 __________________ (1) The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015. As of April 3, 2016 , we had $2.9 million of total unrecognized share-based compensation expense related to unvested options, net of expected forfeitures, which is expected to be amortized over the remaining weighted-average period of 3.2 years. The following table summarizes stock-based compensation expense and the associated tax benefit recognized in the Consolidated Financial Statements for the periods presented: Three Months Ended April 3, March 29, (in thousands) Stock-based compensation costs $ 168 $ 395 Portion capitalized as property and equipment (1) (33 ) (4 ) Stock-based compensation expense recognized $ 135 $ 391 Excess tax benefit recognized from exercise of stock-based compensation awards $ 4 $ — __________________ (1) We capitalize the portion of stock-based compensation costs related to our design, construction, facilities and legal departments that are directly attributable to our store development projects, such as the design and construction of a new store and the remodeling and expansion of our existing stores. Capitalized stock-based compensation cost attributable to our store development projects is included in “Property and equipment, net” in the Consolidated Balance Sheets. |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Equity [Abstract] | |
Summary of Changes in Stockholders' Equity | The following table summarizes the changes in stockholder’s equity during the three months ended April 3, 2016 : Common Stock Capital In Retained Accumulated Shares Amount Total (in thousands, except share information) Balance at January 3, 2016 200 $ — $ 356,460 $ (144,598 ) $ (3,316 ) $ 208,546 Net income (loss) — — — 17,915 — 17,915 Other comprehensive income (loss) — — — — 754 754 Stock-based compensation costs — — 168 — — 168 Excess tax benefit realized from exercise of stock options — — 4 — — 4 Balance at April 3, 2016 200 $ — $ 356,632 $ (126,683 ) $ (2,562 ) $ 227,387 |
Condensed Consolidating Sched32
Condensed Consolidating Schedules (Tables) | 3 Months Ended | |
Apr. 03, 2016 | Mar. 29, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||
Condensed Consolidating Balance Sheet | CEC Entertainment, Inc. Condensed Consolidating Balance Sheet As of April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Current assets: Cash and cash equivalents $ 61,106 $ 2,217 $ 6,675 $ — $ 69,998 Restricted cash — — 4,142 — 4,142 Accounts receivable 14,416 2,811 8,944 (8,513 ) 17,658 Inventories 23,031 3,087 307 — 26,425 Other current assets 14,608 4,219 2,003 — 20,830 Total current assets 113,161 12,334 22,071 (8,513 ) 139,053 Property and equipment, net 570,343 34,587 8,707 — 613,637 Goodwill 432,462 51,414 — — 483,876 Intangible assets, net 21,156 465,912 — — 487,068 Intercompany 129,033 27,913 — (156,946 ) — Investment in subsidiaries 422,049 — — (422,049 ) — Other noncurrent assets 7,692 11,965 619 — 20,276 Total assets $ 1,695,896 $ 604,125 $ 31,397 $ (587,508 ) $ 1,743,910 Current liabilities: Bank indebtedness and other long-term debt, current portion $ 7,600 $ 56 $ — $ — $ 7,656 Capital lease obligations, current portion 430 — 5 — 435 Accounts payable and accrued expenses 80,532 13,381 8,290 — 102,203 Other current liabilities 3,452 328 — — 3,780 Total current liabilities 92,014 13,765 8,295 — 114,074 Capital lease obligations, less current portion 14,867 — 67 — 14,934 Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion 970,556 — — — 970,556 Deferred tax liability 178,014 16,991 (1,421 ) — 193,584 Intercompany 1,479 138,099 25,881 (165,459 ) — Other noncurrent liabilities 211,579 11,538 258 — 223,375 Total liabilities 1,468,509 180,393 33,080 (165,459 ) 1,516,523 Stockholder's equity: Common stock — — — — — Capital in excess of par value 356,632 466,114 3,241 (469,355 ) 356,632 Retained earnings (deficit) (126,683 ) (42,382 ) (2,362 ) 44,744 (126,683 ) Accumulated other comprehensive income (loss) (2,562 ) — (2,562 ) 2,562 (2,562 ) Total stockholder's equity 227,387 423,732 (1,683 ) (422,049 ) 227,387 Total liabilities and stockholder's equity $ 1,695,896 $ 604,125 $ 31,397 $ (587,508 ) $ 1,743,910 CEC Entertainment, Inc. Condensed Consolidating Balance Sheet As of January 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Current assets: Cash and cash equivalents $ 42,235 $ 1,797 $ 6,622 $ — $ 50,654 Accounts receivable 21,595 3,944 9,468 (9,071 ) 25,936 Inventories 19,959 3,021 295 — 23,275 Other current assets 13,562 3,561 1,100 — 18,223 Total current assets 97,351 12,323 17,485 (9,071 ) 118,088 Property and equipment, net 585,915 34,539 8,593 — 629,047 Goodwill 432,462 51,414 — — 483,876 Intangible assets, net 21,855 466,240 — — 488,095 Intercompany 129,151 30,716 — (159,867 ) — Investment in subsidiaries 422,407 — — (422,407 ) — Other noncurrent assets 4,318 8,940 671 — 13,929 Total assets $ 1,693,459 $ 604,172 $ 26,749 $ (591,345 ) $ 1,733,035 Current liabilities: Bank indebtedness and other long-term debt, current portion $ 7,600 $ 50 $ — $ — $ 7,650 Capital lease obligations, current portion 418 — 3 — 421 Accounts payable and accrued expenses 71,320 27,774 3,270 — 102,364 Other current liabilities 3,350 328 — — 3,678 Total current liabilities 82,688 28,152 3,273 — 114,113 Capital lease obligations, less current portion 14,980 — 64 — 15,044 Bank indebtedness and other long-term debt, net of deferred financing costs, less current portion 971,320 13 — — 971,333 Deferred tax liability 184,083 17,867 (216 ) — 201,734 Intercompany 20,580 121,850 26,508 (168,938 ) — Other noncurrent liabilities 211,262 10,784 219 — 222,265 Total liabilities 1,484,913 178,666 29,848 (168,938 ) 1,524,489 Stockholder's equity: Common stock — — — — — Capital in excess of par value 356,460 466,114 3,241 (469,355 ) 356,460 Retained earnings (deficit) (144,598 ) (40,608 ) (3,024 ) 43,632 (144,598 ) Accumulated other comprehensive income (loss) (3,316 ) — (3,316 ) 3,316 (3,316 ) Total stockholder's equity 208,546 425,506 (3,099 ) (422,407 ) 208,546 Total liabilities and stockholder's equity $ 1,693,459 $ 604,172 $ 26,749 $ (591,345 ) $ 1,733,035 | |
Condensed Consolidating Income Statement | CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ 107,822 $ 12,788 $ 1,592 $ — $ 122,202 Entertainment and merchandise sales 139,208 5,598 2,751 — 147,557 Total company store sales 247,030 18,386 4,343 — 269,759 Franchise fees and royalties 598 3,961 — — 4,559 International Association assessments and other fees 255 615 11,958 (12,828 ) — Total revenues 247,883 22,962 16,301 (12,828 ) 274,318 Operating Costs and Expenses: Company store operating costs: Cost of food and beverage 26,644 3,297 580 — 30,521 Cost of entertainment and merchandise 8,119 445 186 — 8,750 Total cost of food, beverage, entertainment and merchandise 34,763 3,742 766 — 39,271 Labor expenses 63,734 3,999 1,310 — 69,043 Depreciation and amortization 26,563 607 459 — 27,629 Rent expense 22,257 1,333 560 — 24,150 Other store operating expenses 33,763 2,166 951 (870 ) 36,010 Total company store operating costs 181,080 11,847 4,046 (870 ) 196,103 Advertising expense 12,420 1,673 10,965 (11,958 ) 13,100 General and administrative expenses 7,183 10,659 176 — 18,018 Transaction, severance and related litigation costs 701 48 — — 749 Total operating costs and expenses 201,384 24,227 15,187 (12,828 ) 227,970 Operating income (loss) 46,499 (1,265 ) 1,114 — 46,348 Equity in earnings (loss) in affiliates (1,112 ) — — 1,112 — Interest expense (income) 16,602 351 108 — 17,061 Income (loss) before income taxes 28,785 (1,616 ) 1,006 1,112 29,287 Income tax expense (benefit) 10,870 165 337 — 11,372 Net income (loss) $ 17,915 $ (1,781 ) $ 669 $ 1,112 $ 17,915 Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments 754 — (754 ) 754 754 Comprehensive income (loss) $ 18,669 $ (1,781 ) $ (85 ) $ 1,866 $ 18,669 CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 29, 2015 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ 102,387 $ 12,316 $ 1,834 $ — $ 116,537 Entertainment and merchandise sales 137,510 4,110 3,124 — 144,744 Total company store sales 239,897 16,426 4,958 — 261,281 Franchise fees and royalties 805 3,422 — — 4,227 International Association assessments and other fees 286 662 8,653 (9,601 ) — Total revenues 240,988 20,510 13,611 (9,601 ) 265,508 Operating Costs and Expenses: Company store operating costs: Cost of food and beverage 25,390 3,244 591 — 29,225 Cost of entertainment and merchandise 7,620 753 149 — 8,522 Total cost of food, beverage, entertainment and merchandise 33,010 3,997 740 — 37,747 Labor expenses 61,732 3,930 1,511 — 67,173 Depreciation and amortization 27,619 1,114 508 — 29,241 Rent expense 22,303 1,494 661 — 24,458 Other store operating expenses 31,509 1,830 1,128 (948 ) 33,519 Total company store operating costs 176,173 12,365 4,548 (948 ) 192,138 Advertising expense 9,141 1,060 9,904 (8,653 ) 11,452 General and administrative expenses 4,893 11,316 117 — 16,326 Transaction, severance and related litigation costs — 905 — — 905 Total operating costs and expenses 190,207 25,646 14,569 (9,601 ) 220,821 Operating income (loss) 50,781 (5,136 ) (958 ) — 44,687 Equity in earnings (loss) in affiliates (7,769 ) — — 7,769 — Interest expense (income) 16,737 633 129 — 17,499 Income (loss) before income taxes 26,275 (5,769 ) (1,087 ) 7,769 27,188 Income tax expense (benefit) 11,533 1,328 (415 ) — 12,446 Net income (loss) $ 14,742 $ (7,097 ) $ (672 ) $ 7,769 $ 14,742 Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments (1,642 ) — (1,642 ) 1,642 (1,642 ) Comprehensive income (loss) $ 13,100 $ (7,097 ) $ (2,314 ) $ 9,411 $ 13,100 | CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended April 3, 2016 (in thousands) Successor Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales $ — $ — $ — $ — $ — Entertainment and merchandise sales — — — — — Total company store sales — — — — — Franchise fees and royalties — — — — — International Association assessments and other fees — — — — — Total revenues — — — — — Operating Costs and Expenses: Company store operating costs: Cost of food and beverage — — — — — Cost of entertainment and merchandise — — — — — Total cost of food, beverage, entertainment and merchandise — — — — — Labor expenses — — — — — Depreciation and amortization — — — — — Rent expense — — — — — Other store operating expenses — — — — — Total company store operating costs — — — — — Advertising expense — — — — — General and administrative expenses — — — — — Transaction and severance costs — — — — — Asset impairments — — — — — Total operating costs and expenses — — — — — Operating income (loss) — — — — — Equity in earnings (loss) in affiliates — — — — — Interest expense (income) — — — — — Income (loss) before income taxes — — — — — Income tax expense (benefit) — — — — — Net income (loss) $ — $ — $ — $ — $ — Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments $ — $ — $ — $ — $ — Total components of other comprehensive income (loss), net of tax — — — — — Comprehensive income (loss) $ — $ — $ — $ — $ — CEC Entertainment, Inc. Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 28, 2014 (in thousands) Successor Issuer Guarantors Non-Guarantors Eliminations Consolidated Revenues: Food and beverage sales Entertainment and merchandise sales Total company store sales — — — — — Franchise fees and royalties International Association assessments and other fees Total revenues — — — — — Operating Costs and Expenses: Company store operating costs: Cost of food and beverage Cost of entertainment and merchandise Total cost of food, beverage, entertainment and merchandise — — — — — Labor expenses Depreciation and amortization Rent expense Other store operating expenses Total company store operating costs — — — — — Advertising expense General and administrative expenses Transaction and severance costs Total operating costs and expenses — — — — — Operating income (loss) — — — — — Equity in earnings (loss) in affiliates — Interest expense (income) — Income (loss) before income taxes — — — — — Income tax expense (benefit) — Net income (loss) $ — $ — $ — $ — $ — Components of other comprehensive income (loss), net of tax: Foreign currency translation adjustments $ — Total components of other comprehensive income (loss), net of tax — — — — — Comprehensive income (loss) $ — $ — $ — $ — $ — |
Condensed Consolidating Cash Flow Statement | CEC Entertainment, Inc. Consolidating Statement of Cash Flows For the Three Months Ended April 3, 2016 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Cash flows provided by (used in) operating activities: $ 40,445 $ 3,662 $ (335 ) $ — $ 43,772 Cash flows from investing activities: Purchases of property and equipment (18,342 ) (451 ) (30 ) — (18,823 ) Development of internal use software (841 ) (2,784 ) — — (3,625 ) Proceeds from sale of property and equipment 79 — — — 79 Cash flows provided by (used in) investing activities (19,104 ) (3,235 ) (30 ) — (22,369 ) Cash flows from financing activities: Repayments on senior term loan (1,900 ) — — — (1,900 ) Repayments on note payable — (7 ) — — (7 ) Payments on capital lease obligations (100 ) — (1 ) — (101 ) Payments on sale leaseback transactions (474 ) — — — (474 ) Excess tax benefit realized from stock-based compensation 4 — — — 4 Cash flows provided by (used in) financing activities (2,470 ) (7 ) (1 ) — (2,478 ) Effect of foreign exchange rate changes on cash — — 419 — 419 Change in cash and cash equivalents 18,871 420 53 — 19,344 Cash and cash equivalents at beginning of period 42,235 1,797 6,622 — 50,654 Cash and cash equivalents at end of period $ 61,106 $ 2,217 $ 6,675 $ — $ 69,998 CEC Entertainment, Inc. Consolidating Statement of Cash Flows For the Three Months Ended March 29, 2015 (in thousands) Issuer Guarantors Non-Guarantors Eliminations Consolidated Cash flows provided by (used in) operating activities: $ 53,409 $ 2,476 $ 4,663 $ — $ 60,548 Cash flows from investing activities: Acquisition of Peter Piper Pizza (663 ) — — — (663 ) Intercompany note (96 ) 2,500 — (2,404 ) — Purchases of property and equipment (14,451 ) (1,023 ) (635 ) — (16,109 ) Development of internal use software — (185 ) — — (185 ) Proceeds from sale of property and equipment 97 — — — 97 Cash flows provided by (used in) investing activities (15,113 ) 1,292 (635 ) (2,404 ) (16,860 ) Cash flows from financing activities: Repayments on senior term loan (1,900 ) — — — (1,900 ) Repayments on Note Payable — (11 ) (11 ) Intercompany note — 96 (2,500 ) 2,404 — Payments on capital lease obligations (100 ) — — — (100 ) Payments on sale leaseback transactions (386 ) — — — (386 ) Cash flows provided by (used in) financing activities (2,386 ) 85 (2,500 ) 2,404 (2,397 ) Effect of foreign exchange rate changes on cash — — (661 ) — (661 ) Change in cash and cash equivalents 35,910 3,853 867 — 40,630 Cash and cash equivalents at beginning of period 97,020 6,427 7,547 — 110,994 Cash and cash equivalents at end of period $ 132,930 $ 10,280 $ 8,414 $ — $ 151,624 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 3 Months Ended |
Apr. 03, 2016 | |
Related Party Transaction [Line Items] | |
Related Party Transactions Disclosure [Text Block] | 12. Related Party Transactions: CEC Entertainment reimburses Apollo Management, L.P. for certain out-of-pocket expenses incurred in connection with travel and Board of Directors related expenses. Expense reimbursements by CEC Entertainment to Apollo totaled $0.5 million for the three months ended April 3, 2016 and are included in “General and administrative expenses” in our Consolidated Statements of Earnings. |
Description of Business and S34
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions | 3 Months Ended | |
Mar. 29, 2015USD ($) | Apr. 03, 2016CountryState | |
Accounting Policies [Abstract] | ||
Number of States in which Entity Operates | State | 47 | |
Number of foreign countries in which Entity operates | Country | 12 | |
Related Party Transaction [Line Items] | ||
Contributions from franchisees to advertising and media funds | $ | $ 0.6 |
Description of Business and S35
Description of Business and Summary of Significant Accounting Policies - Goodwill and Other Intangible Assets (Details) | 3 Months Ended |
Apr. 03, 2016 | |
Franchise Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 25 years |
Favorable Lease Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Acquisition of CEC Entertainm36
Acquisition of CEC Entertainment, Inc. - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 14, 2014 | Apr. 03, 2016 | Mar. 29, 2015 | Sep. 28, 2014 | Jan. 15, 2014 |
Business Acquisition [Line Items] | |||||
Transaction and severance costs | $ 749 | $ 905 | |||
CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 514,840 | ||||
Business Combination, Percentage of Outstanding Shares Tendered for Purchase in Merger Agreement | 68.00% | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 90.00% | ||||
Business Acquisition, Share Price | $ 54 | ||||
Business Combination, Consideration Transferred | $ 1,400,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Debt | 348,000 | ||||
Business Combination, Consideration Transferred, Transaction and Debt Issuance Costs | 65,000 | ||||
Proceeds from Equity Method Investment, Dividends or Distributions | 350,000 | ||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 2,900 | ||||
Bridge Loan [Member] | CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred, Liabilities Incurred | 248,500 | ||||
Senior Notes [Member] | CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred, Liabilities Incurred | 255,000 | ||||
Term Loan Facility [Member] | CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred, Liabilities Incurred | 760,000 | ||||
Revolving Credit Facility [Member] | CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Maximum borrowing capacity of revolving credit facility | $ 150,000 |
Acquisition of CEC Entertainm37
Acquisition of CEC Entertainment, Inc. - Value of Net Assets Acquired (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 14, 2014 | Apr. 03, 2016 | Mar. 29, 2015 | Jan. 15, 2014 | |
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 0 | $ 663 | |||
CEC Entertainment, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 350,000 | ||||
Business Acquisition, Share Price | $ 54 | ||||
Business Combination, Consideration Transferred | 1,400,000 | ||||
Payments to Acquire Businesses, Gross | 946,898 | ||||
Cash and cash equivalents | 19,184 | ||||
Accounts receivable | 22,185 | ||||
Inventories | 21,696 | ||||
Other current assets | 16,463 | ||||
Property, plant and equipment | 718,066 | ||||
Property under capital lease | 15,530 | ||||
Favorable lease interests | 14,000 | ||||
Chuck E. Cheese's tradename | 400,000 | ||||
Franchise agreements | 14,000 | ||||
Indebtedness | (348,000) | ||||
Capital Leases | (15,530) | ||||
Unfavorable lease interests | (10,160) | ||||
Deferred taxes | (268,946) | ||||
Other current and non-current liabilities | (93,520) | ||||
Net assets acquired | 514,840 | ||||
Excess purchase price allocated to goodwill | [1] | 432,058 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 9,872 | ||||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjQ3MjBhNzEzZWEwNzQzMjNhZTZlZmZlMmY1YmE4MjQ0fFRleHRTZWxlY3Rpb246NTY3RDhFMTE0MEIxNDQyOTFCOUY5QTI5NzEwNjk3NjAM} |
Acquisition of CEC Entertainm38
Acquisition of CEC Entertainment, Inc. - Pro Forma Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | Sep. 29, 2013 | Sep. 28, 2014 | Sep. 29, 2013 | Feb. 14, 2014 | |
Business Acquisition [Line Items] | ||||||||
Costs and Expenses | $ 900 | |||||||
Total revenues | $ 274,318 | $ 265,508 | ||||||
CEC Entertainment, Inc. [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 9,872 | |||||||
Total revenues | $ 274,318 | $ 265,508 | $ 642,082 | $ 0 | ||||
Net loss | (11,003) | $ (11,349) | $ (3,268) | $ (5,223) | ||||
Successor [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Total revenues | $ 0 | $ 0 |
Acquisition of Peter Piper Pizz
Acquisition of Peter Piper Pizza Narrative (Details) $ in Millions | Oct. 15, 2014USD ($) |
Peter Piper Pizza [Member] | |
Business Acquisition [Line Items] | |
Payments to Acquire Businesses, Net of Cash Acquired | $ 113.1 |
Acquisition of Peter Piper Pi40
Acquisition of Peter Piper Pizza Goodwill (Details) $ in Millions | Oct. 15, 2014USD ($) |
Peter Piper Pizza [Member] | |
Business Acquisition [Line Items] | |
Goodwill, Translation and Purchase Accounting Adjustments | $ 113.1 |
Acquisition of Peter Piper Pi41
Acquisition of Peter Piper Pizza Table of Assets Acquired (Details) - USD ($) $ in Thousands | Oct. 16, 2014 | Apr. 03, 2016 | Mar. 29, 2015 | Sep. 27, 2015 | Sep. 27, 2015 |
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 0 | $ 663 | |||
Peter Piper Pizza [Member] | |||||
Business Acquisition [Line Items] | |||||
Other current assets | $ 598 | $ 598 | $ 598 | ||
Cash and cash equivalents | 5,267 | 5,267 | 5,267 | ||
Accounts receivable | 511 | 511 | 511 | ||
Payments to Acquire Businesses, Gross | 118,409 | 119,072 | |||
Inventories | 820 | 820 | 820 | ||
Property, plant and equipment | 14,383 | 14,383 | 14,383 | ||
Favorable lease interests | 2,000 | 880 | 880 | ||
Chuck E. Cheese's tradename | 24,800 | 26,700 | 26,700 | ||
Franchise agreements | 39,300 | 39,300 | 39,300 | ||
Other non-current assets | 154 | 154 | 154 | ||
Indebtedness | (120) | (120) | (120) | ||
Below Market Lease, Gross | (3,290) | (3,870) | (3,870) | ||
Deferred taxes | (12,935) | (12,904) | (12,904) | ||
Other current and non-current liabilities | (4,061) | (4,061) | (4,061) | ||
Net assets acquired | 67,427 | 67,658 | 67,658 | ||
Goodwill, Fair Value Disclosure | $ 50,982 | 51,414 | $ 51,414 | ||
Peter Piper Pizza [Member] | Additional PPP Goodwill recognized in Q1 2015 [Member] | |||||
Business Acquisition [Line Items] | |||||
Goodwill, Translation and Purchase Accounting Adjustments | $ 432 | ||||
Successor [Member] | Peter Piper Pizza [Member] | |||||
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | 663 | ||||
Successor [Member] | Peter Piper Pizza [Member] | |||||
Business Acquisition [Line Items] | |||||
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | (1,120) | ||||
Indefinite-lived Intangible Assets, Purchase Accounting Adjustments | 1,900 | ||||
below market lease purchase accounting adjustment | (580) | ||||
Deferred Tax Liability, Increase (Decrease) Due to Tax Effect of Purchase Accounting Adjustments | 31 | ||||
Goodwill, Translation and Purchase Accounting Adjustments | $ 231 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | $ 613,637 | $ 629,047 |
Property and Equipment - Narrat
Property and Equipment - Narrative (Details) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 9 Months Ended | |||
Feb. 14, 2014 | Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 29, 2013 | Sep. 29, 2013 | |
Property, Plant and Equipment [Line Items] | ||||||
Depreciation and amortization | $ 28,998 | $ 30,398 | ||||
Depreciation | $ 1,400 | 1,000 | ||||
Successor [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Asset Impairment Charges | $ 0 | |||||
Franchise Agreements [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Amortization of Intangible Assets | $ 500 |
Goodwill and Intangible Asset44
Goodwill and Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Apr. 03, 2016 | Sep. 28, 2014 | Feb. 14, 2014 | ||
Goodwill [Roll Forward] | ||||
Goodwill | $ 483,876 | |||
Goodwill | $ 483,876 | |||
CEC Entertainment, Inc. [Member] | ||||
Goodwill [Line Items] | ||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 2,900 | |||
Goodwill, Fair Value Disclosure | [1] | $ 432,058 | ||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjQ3MjBhNzEzZWEwNzQzMjNhZTZlZmZlMmY1YmE4MjQ0fFRleHRTZWxlY3Rpb246NTY3RDhFMTE0MEIxNDQyOTFCOUY5QTI5NzEwNjk3NjAM} |
Goodwill and Intangible Asset45
Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Feb. 14, 2014 | Apr. 03, 2016 | Mar. 29, 2015 | Sep. 29, 2013 | Sep. 27, 2015 | Sep. 29, 2013 | Sep. 28, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||||||
Unfavorable lease amortization period | 10 years | ||||||
Favorable Lease Agreements [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Amortization of Intangible Assets | $ 500 | ||||||
Franchise Agreements [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Amortization of Intangible Assets | $ 500 | ||||||
CEC Entertainment, Inc. [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Off-market Lease, Unfavorable | $ 10,200 | ||||||
Peter Piper Pizza [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Off-market Lease, Unfavorable | $ 3,900 | ||||||
Peter Piper Pizza [Member] | Successor [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Translation and Purchase Accounting Adjustments | $ 231 | ||||||
Indefinite-lived Intangible Assets, Purchase Accounting Adjustments | 1,900 | ||||||
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | $ (1,120) | ||||||
Peter Piper Pizza [Member] | Additional PPP Goodwill recognized in Q1 2015 [Member] | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill, Translation and Purchase Accounting Adjustments | $ 432 |
Goodwill and Intangible Asset46
Goodwill and Intangible Assets - Schedule of Indefinite and Definite-lived Intangible Assets (Details) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 9 Months Ended | |||
Feb. 14, 2014 | Apr. 03, 2016 | Mar. 29, 2015 | Sep. 29, 2013 | Sep. 29, 2013 | Jan. 03, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||||||
Indefinite-lived intangible assets | $ 494,880 | |||||
Finite-lived intangible assets - accumulated amortization | (7,812) | |||||
Intangible assets, net | $ 487,068 | $ 488,095 | ||||
Unfavorable lease, Acquired | 10 years | |||||
Favorable Lease Agreements [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Amortization of Intangible Assets | $ 500 | |||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||
Finite-lived intangible assets - gross carrying amounts | $ 14,880 | |||||
Finite-lived intangible assets - accumulated amortization | (4,200) | |||||
Finite-lived intangible assets, net | $ 10,680 | |||||
Franchise Agreements [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Amortization of Intangible Assets | $ 500 | |||||
Finite-Lived Intangible Asset, Useful Life | 25 years | |||||
Finite-lived intangible assets - gross carrying amounts | $ 53,300 | |||||
Finite-lived intangible assets - accumulated amortization | (3,612) | |||||
Finite-lived intangible assets, net | 49,688 | |||||
Chuck E. Cheese [Member] | Trade Names [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Indefinite-lived intangible assets | 400,000 | |||||
Peter Piper Pizza [Member] | Trade Names [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Indefinite-lived intangible assets | 26,700 | |||||
Trade Names [Member] | Chuck E. Cheese [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Indefinite-lived intangible assets | 400,000 | |||||
Trade Names [Member] | Peter Piper Pizza [Member] | ||||||
Finite-Lived Intangible Assets [Line Items] | ||||||
Indefinite-lived intangible assets | $ 26,700 |
Goodwill and Intangible Asset47
Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense (Details) $ in Thousands | Apr. 03, 2016USD ($) |
Favorable Lease Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible assets, net | $ 10,680 |
Franchise Agreements [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible assets, net | $ 49,688 |
Accounts Payable (Details)
Accounts Payable (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 |
Accounts Payable [Line Items] | ||
Accounts Payable, Trade, Current | $ 27,085 | $ 35,228 |
Bank Overdrafts | 8,495 | 8,862 |
Accounts Payable | $ 35,580 | $ 44,090 |
Indebtedness and Interest Exp49
Indebtedness and Interest Expense - Schedule of Debt (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 | Feb. 19, 2014 |
Debt Instrument [Line Items] | |||
Bank indebtedness and other long-term debt, less current portion | $ 970,556 | $ 971,333 | |
Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | 999,856 | 1,001,763 | |
Unamortized original issue discount | 2,641 | 2,776 | |
Deferred Finance Costs, Noncurrent, Net | (19,003) | (20,004) | |
Current portion | 7,656 | 7,650 | |
Bank indebtedness and other long-term debt, less current portion | 970,556 | 971,333 | |
Term Loan Facility [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | 744,800 | 746,700 | |
Senior Notes [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | 255,000 | ||
Long-term debt, gross | 255,000 | ||
Notes Payable, Other Payables [Member] | Successor [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, gross | $ 56 | $ 63 | |
Senior Notes due 2022 [Member] | Senior Notes [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |
Indebtedness and Interest Exp50
Indebtedness and Interest Expense - Narrative (Details) - USD ($) | 3 Months Ended | 7 Months Ended | 9 Months Ended | |||||
Apr. 03, 2016 | Mar. 29, 2015 | Sep. 28, 2014 | Sep. 27, 2015 | Apr. 08, 2016 | Jan. 03, 2016 | Feb. 14, 2014 | ||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Unamortized Discount | $ 3,800,000 | |||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.00% | |||||||
Term Loan Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 4.60% | |||||||
The Senior Secured Credit Facilities [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||
The Senior Secured Credit Facilities [Member] | Federal Funds Effective Swap Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% | |||||||
The Senior Secured Credit Facilities [Member] | Adjusted London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||
The Senior Secured Credit Facilities [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Additional Margin on Basis Spread of Variable Rate | 2.25% | |||||||
Secured Credit Facilities, Bridge Loan Facility and Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 5.50% | |||||||
SecuredCreditFacilitiesAndSeniorNotes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 5.60% | |||||||
Term Loan Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest Expense, Debt | [1] | $ 8,157,000 | $ 7,907,000 | |||||
Term Loan Facility [Member] | Term Loan Facility Maturing 2021 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Payments of Debt Issuance Costs | $ 17,800,000 | |||||||
Federal Funds Rate Minimum | 0.25% | |||||||
Federal Funds Rate Maximum | 0.38% | |||||||
Prime Interest Rate | 3.25% | |||||||
Libor Rate Minimum | 0.42% | |||||||
Libor Rate Maximum | 0.44% | |||||||
The Senior Secured Credit Facilities [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 4.70% | |||||||
Unsecured Debt [Member] | Senior Notes due 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate During Period | 8.30% | |||||||
Revolving Credit Facility [Member] | Swingline Loan Facility, the Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Line of Credit Facility, Amount Outstanding | $ 0 | |||||||
Revolving Credit Facility [Member] | Senior Loans [Member] | Swingline Loan Facility, the Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Covenant threshold related to percentage of credit facility drawn | 30.00% | |||||||
Payments of Debt Issuance Costs | 3,400,000 | |||||||
Letter of Credit [Member] | Senior Debt Obligations [Member] | Letter of Credit Sub-Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Letters of Credit Outstanding, Amount | 10,900,000 | $ 9,900,000 | ||||||
Successor [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | 999,856,000 | $ 1,001,763,000 | ||||||
Successor [Member] | Term Loan Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 744,800,000 | $ 746,700,000 | ||||||
Minimum [Member] | The Senior Secured Credit Facilities [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Additional Margin on Basis Spread of Variable Rate | 3.00% | |||||||
[1] | Includes amortization of original issue discount. |
Indebtedness and Interest Exp51
Indebtedness and Interest Expense - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 |
Debt Instrument [Line Items] | ||
Bank indebtedness and other long-term debt, less current portion | $ 970,556 | $ 971,333 |
Successor [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, gross | 999,856 | 1,001,763 |
Unamortized original issue discount | (2,641) | (2,776) |
Deferred Finance Costs, Noncurrent, Net | 19,003 | 20,004 |
Current portion | (7,656) | (7,650) |
Bank indebtedness and other long-term debt, less current portion | $ 970,556 | $ 971,333 |
Indebtedness and Interest Exp52
Indebtedness and Interest Expense - Interest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Apr. 03, 2016 | Mar. 29, 2015 | Feb. 14, 2014 | ||
Debt Instrument [Line Items] | ||||
Amortization of debt issuance costs | $ 1,001 | $ 1,001 | ||
Interest Expense, Other Long-term Debt | (452) | (196) | ||
Interest expense | 17,061 | 17,499 | ||
Term Loan Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest Expense, Debt | [1] | 8,157 | 7,907 | |
Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Interest expense, excluding amortization | 5,157 | 5,157 | ||
Capital Lease Obligations [Member] | ||||
Debt Instrument [Line Items] | ||||
Capital Leases, Income Statement, Interest Expense | 440 | 455 | ||
Sale Leaseback Obligations [Member] | ||||
Debt Instrument [Line Items] | ||||
InterestExpenseSaleLeaseback | $ 2,758 | $ 2,783 | ||
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | The Senior Secured Credit Facilities [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Additional Margin on Basis Spread of Variable Rate | 3.25% | |||
[1] | Includes amortization of original issue discount. |
Fair Value of Financial Instr53
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Bank indebtedness and other long-term debt, less current portion | $ 970,556 | $ 971,333 | |
Carrying Amount [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Bank indebtedness and other long-term debt, less current portion | [1] | 989,559 | 991,337 |
Estimate of Fair Value [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Bank indebtedness and other long-term debt, less current portion | $ 920,101 | $ 962,600 | |
[1] | Excluding net deferred financing costs |
Other Non-current Liabilities54
Other Non-current Liabilities (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 | Dec. 28, 2014 | Sep. 28, 2014 | Dec. 29, 2013 |
Other Noncurrent Liabilities [Line Items] | |||||
Other noncurrent liabilities | $ 213,890 | $ 212,528 | |||
Successor [Member] | |||||
Other Noncurrent Liabilities [Line Items] | |||||
Sale leaseback obligations, less current portion | $ 0 | ||||
Other noncurrent liabilities | $ 0 | $ 24,102 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - Merger Agreement [Member] - lawsuit | Jan. 16, 2014 | Jul. 21, 2015 |
Loss Contingencies [Line Items] | ||
New claims filed | 4 | |
Loss contingency, members of the Board also senior management | 2 |
Income Taxes Taxes by Jurisdict
Income Taxes Taxes by Jurisdiction (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | |
Income Taxes [Line Items] | ||||
Federal and state income taxes | $ 11,263 | $ 12,174 | ||
Foreign income taxes | 109 | 272 | ||
Income tax expense (benefit) | $ 11,372 | $ 12,446 | ||
Effective income tax rate | 38.80% | 45.80% | ||
Successor [Member] | ||||
Income Taxes [Line Items] | ||||
Income tax expense (benefit) | $ 0 | $ 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Apr. 03, 2016 | Mar. 29, 2015 | Jan. 03, 2016 | Feb. 14, 2014 | |
Tax Credit Carryforward [Line Items] | ||||
Effective income tax rate | 38.80% | 45.80% | ||
Deferred income taxes | $ (8,287) | $ (13,268) | ||
Unrecognized tax benefits | 3,400 | $ 3,300 | ||
Unrecognized tax benefits that would decrease effective tax rate and provision for income taxes, if recognized | 1,300 | |||
Expected decrease in unrecognized tax benefits within next twelve months | 200 | |||
Total amount of interest and penalties accrued related to unrecognized tax benefits | $ 800 | $ 1,700 | ||
The Senior Secured Credit Facilities [Member] | Base Rate [Member] | ||||
Tax Credit Carryforward [Line Items] | ||||
Debt Instrument, Additional Margin on Basis Spread of Variable Rate | 2.25% |
Stock-Based Compensation Arra58
Stock-Based Compensation Arrangements - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||
Apr. 03, 2016 | Mar. 29, 2015 | Jan. 03, 2016 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,469,610 | 2,393,084 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 8.78 | $ 8.59 | [1] | ||
ShareBasedCompensationArrangementbyShareBasedPaymentAwarad,Options,Outstanding,WeightedAverageRemainingContractualLife | 8 years 1 month 20 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 10,141 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 2 months | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 12.51 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | (13,399) | ||||
Share-based Compensation Arrangement by Share-bassed Payment Award, Options, Exercised, Weighted Average Exercise Price | [1] | $ 8.86 | |||
Tax benefit related to the accelerated vesting of restricted stock awards | $ 4 | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 8.78 | ||||
ShareBasedCompensationArrangementbyShareBasedPaymentAward,Options,ExpectedtoVest,WeightedAverageRemainingContractualTerm | 8 years 1 month 20 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 9,127 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares | (11,185) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | [1] | $ 10.91 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 2,222,650 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 327,726 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 8.32 | ||||
ShareBasedCompensationArrangementbyShareBasedPaymentAward,Options,Exercisable,WeightedAverageRemainingContractualLife | 7 years 11 months | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 2,861 | ||||
Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options granted (shares) | 101,110 | ||||
[1] | The weighted average exercise price reflects the original grant date fair value per option as adjusted for the dividend payment made in August 2015. |
Stock-Based Compensation Arra59
Stock-Based Compensation Arrangements Stock-Based Compensation Arrangements - Summary of Stock-Based Compensation Expense and Associated Tax Benefit Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 03, 2016 | Mar. 29, 2015 | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation costs | $ 168 | $ 395 | |
Portion capitalized as property and equipment | [1] | (33) | (4) |
Stock-based compensation expense recognized | 135 | 391 | |
Tax benefit recognized from stock-based compensation awards | 4 | $ 0 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 2,900 | ||
[1] | We capitalize the portion of stock-based compensation costs related to our design, construction, facilities and legal departments that are directly attributable to our store development projects, such as the design and construction of a new store and the remodeling and expansion of our existing stores. Capitalized stock-based compensation cost attributable to our store development projects is included in “Property and equipment, net” in the Consolidated Balance Sheets. |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Changes In Stockholders' Equity (Details) - USD ($) | 3 Months Ended | |||
Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Common Stock, Value, Issued beginning balance | $ 0 | |||
Capital in excess of par value beginning balance | 356,460,000 | |||
Retained earnings beginning balance | (144,598,000) | |||
Accumulated other comprehensive income beginning balance | (2,562,000) | |||
Beginning Balance | 208,546,000 | |||
Net income (loss) | 17,915,000 | $ 14,742,000 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 754,000 | $ (1,642,000) | ||
Common Stock, Value, Issued ending balance | 0 | |||
Capital in excess of par value ending balance | 356,632,000 | |||
Retained earnings ending balance | (126,683,000) | |||
Accumulated other comprehensive income ending balance | (3,316,000) | |||
Ending Balance | $ 227,387,000 | |||
Common Stock [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning Balance (in shares) | 200 | |||
Common Stock, Value, Issued beginning balance | $ 0 | |||
Ending Balance (in shares) | 200 | |||
Common Stock, Value, Issued ending balance | $ 0 | |||
Additional Paid-in Capital [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Stock-based compensation costs | 168,000 | |||
Tax benefit from restricted stock, net | 4,000 | |||
Capital in excess of par value ending balance | 356,632,000 | |||
Income Statement Location [Domain] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | 17,915,000 | |||
Retained Earnings [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Retained earnings ending balance | (126,683,000) | |||
Other Comprehensive Income (Loss) [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Total components of other comprehensive income (loss), net of tax | 754,000 | |||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Accumulated other comprehensive income beginning balance | (2,562,000) | |||
Stockholders' Equity, Total [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Beginning Balance | 208,546,000 | |||
Ending Balance | $ 227,387,000 | |||
Successor [Member] | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income (loss) | $ 0 | $ 0 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | ||
Total components of other comprehensive income (loss), net of tax | $ 0 | $ 0 |
Condensed Consolidating Sched61
Condensed Consolidating Schedules - Balance Sheet (Details) - USD ($) $ in Thousands | Apr. 03, 2016 | Jan. 03, 2016 | Mar. 29, 2015 | Dec. 28, 2014 |
Current assets: | ||||
Cash and cash equivalents | $ 69,998 | $ 50,654 | $ 151,624 | $ 110,994 |
Restricted Cash and Cash Equivalents | 4,142 | |||
Accounts receivable | 17,658 | 25,936 | ||
Inventories | 26,425 | 23,275 | ||
Other current assets | 20,830 | 18,223 | ||
Total current assets | 139,053 | 118,088 | ||
Property and equipment, net | 613,637 | 629,047 | ||
Goodwill | 483,876 | 483,876 | ||
Intangible assets, net | 487,068 | 488,095 | ||
Intercompany | 0 | 0 | ||
Investment in subsidiaries | 0 | 0 | ||
Other noncurrent assets | 20,276 | 13,929 | ||
Total assets | 1,743,910 | 1,733,035 | ||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 7,656 | 7,650 | ||
Capital lease obligations | 435 | 421 | ||
Accounts payable and accrued expenses | 102,203 | 102,364 | ||
Other current liabilities | 3,780 | 3,678 | ||
Total current liabilities | 114,074 | 114,113 | ||
Capital lease obligations, less current portion | 14,934 | 15,044 | ||
Bank indebtedness and other long-term debt, less current portion | 970,556 | 971,333 | ||
Deferred tax liability | 193,584 | 201,734 | ||
Intercompany | 0 | 0 | ||
Other noncurrent liabilities | 223,375 | 222,265 | ||
Total liabilities | 1,516,523 | 1,524,489 | ||
Stockholder’s equity: | ||||
Common stock | 0 | 0 | ||
Capital in excess of par value | 356,632 | 356,460 | ||
Retained earnings (deficit) | (126,683) | (144,598) | ||
Accumulated other comprehensive income (loss) | (2,562) | (3,316) | ||
Total stockholder’s equity | 227,387 | 208,546 | ||
Total liabilities and stockholder’s equity | 1,743,910 | 1,733,035 | ||
Issuer | ||||
Current assets: | ||||
Cash and cash equivalents | 61,106 | 42,235 | 132,930 | |
Restricted Cash and Cash Equivalents | 0 | |||
Accounts receivable | 14,416 | |||
Inventories | 23,031 | |||
Other current assets | 14,608 | |||
Total current assets | 113,161 | |||
Property and equipment, net | 570,343 | |||
Goodwill | 432,462 | |||
Intangible assets, net | 21,156 | |||
Intercompany | 129,033 | |||
Investment in subsidiaries | 422,049 | |||
Other noncurrent assets | 7,692 | |||
Total assets | 1,695,896 | |||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 7,600 | |||
Capital lease obligations | 430 | |||
Accounts payable and accrued expenses | 80,532 | |||
Other current liabilities | 3,452 | |||
Total current liabilities | 92,014 | |||
Capital lease obligations, less current portion | 14,867 | |||
Bank indebtedness and other long-term debt, less current portion | 970,556 | |||
Deferred tax liability | 178,014 | |||
Intercompany | 1,479 | |||
Other noncurrent liabilities | 211,579 | |||
Total liabilities | 1,468,509 | |||
Stockholder’s equity: | ||||
Common stock | 0 | |||
Capital in excess of par value | 356,632 | |||
Retained earnings (deficit) | (126,683) | |||
Accumulated other comprehensive income (loss) | (2,562) | |||
Total stockholder’s equity | 227,387 | |||
Total liabilities and stockholder’s equity | 1,695,896 | |||
Guarantors | ||||
Current assets: | ||||
Cash and cash equivalents | 2,217 | 1,797 | 10,280 | |
Restricted Cash and Cash Equivalents | 0 | |||
Accounts receivable | 2,811 | 3,944 | ||
Inventories | 3,087 | 3,021 | ||
Other current assets | 4,219 | 3,561 | ||
Total current assets | 12,334 | 12,323 | ||
Property and equipment, net | 34,587 | 34,539 | ||
Goodwill | 51,414 | 51,414 | ||
Intangible assets, net | 465,912 | 466,240 | ||
Intercompany | 27,913 | 30,716 | ||
Investment in subsidiaries | 0 | 0 | ||
Other noncurrent assets | 11,965 | 8,940 | ||
Total assets | 604,125 | 604,172 | ||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 56 | 50 | ||
Capital lease obligations | 0 | 0 | ||
Accounts payable and accrued expenses | 13,381 | 27,774 | ||
Other current liabilities | 328 | 328 | ||
Total current liabilities | 13,765 | 28,152 | ||
Capital lease obligations, less current portion | 0 | 0 | ||
Bank indebtedness and other long-term debt, less current portion | 0 | 13 | ||
Deferred tax liability | 16,991 | 17,867 | ||
Intercompany | 138,099 | 121,850 | ||
Other noncurrent liabilities | 11,538 | 10,784 | ||
Total liabilities | 180,393 | 178,666 | ||
Stockholder’s equity: | ||||
Common stock | 0 | 0 | ||
Capital in excess of par value | 466,114 | 466,114 | ||
Retained earnings (deficit) | (42,382) | (40,608) | ||
Accumulated other comprehensive income (loss) | 0 | 0 | ||
Total stockholder’s equity | 423,732 | 425,506 | ||
Total liabilities and stockholder’s equity | 604,125 | 604,172 | ||
Non-Guarantors | ||||
Current assets: | ||||
Cash and cash equivalents | 6,675 | 6,622 | $ 8,414 | |
Restricted Cash and Cash Equivalents | 4,142 | |||
Accounts receivable | 8,944 | 9,468 | ||
Inventories | 307 | 295 | ||
Other current assets | 2,003 | 1,100 | ||
Total current assets | 22,071 | 17,485 | ||
Property and equipment, net | 8,707 | 8,593 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Intercompany | 0 | 0 | ||
Investment in subsidiaries | 0 | 0 | ||
Other noncurrent assets | 619 | 671 | ||
Total assets | 31,397 | 26,749 | ||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 0 | 0 | ||
Capital lease obligations | 5 | 3 | ||
Accounts payable and accrued expenses | 8,290 | 3,270 | ||
Other current liabilities | 0 | 0 | ||
Total current liabilities | 8,295 | 3,273 | ||
Capital lease obligations, less current portion | 67 | 64 | ||
Bank indebtedness and other long-term debt, less current portion | 0 | 0 | ||
Deferred tax liability | (1,421) | (216) | ||
Intercompany | 25,881 | 26,508 | ||
Other noncurrent liabilities | 258 | 219 | ||
Total liabilities | 33,080 | 29,848 | ||
Stockholder’s equity: | ||||
Common stock | 0 | 0 | ||
Capital in excess of par value | 3,241 | 3,241 | ||
Retained earnings (deficit) | (2,362) | (3,024) | ||
Accumulated other comprehensive income (loss) | (2,562) | (3,316) | ||
Total stockholder’s equity | (1,683) | (3,099) | ||
Total liabilities and stockholder’s equity | 31,397 | 26,749 | ||
Subsidiary Issuer [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 42,235 | |||
Accounts receivable | 21,595 | |||
Inventories | 19,959 | |||
Other current assets | 13,562 | |||
Total current assets | 97,351 | |||
Property and equipment, net | 585,915 | |||
Goodwill | 432,462 | |||
Intangible assets, net | 21,855 | |||
Intercompany | 129,151 | |||
Investment in subsidiaries | 422,407 | |||
Other noncurrent assets | 4,318 | |||
Total assets | 1,693,459 | |||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 7,600 | |||
Capital lease obligations | 418 | |||
Accounts payable and accrued expenses | 71,320 | |||
Other current liabilities | 3,350 | |||
Total current liabilities | 82,688 | |||
Capital lease obligations, less current portion | 14,980 | |||
Bank indebtedness and other long-term debt, less current portion | 971,320 | |||
Deferred tax liability | 184,083 | |||
Intercompany | 20,580 | |||
Other noncurrent liabilities | 211,262 | |||
Total liabilities | 1,484,913 | |||
Stockholder’s equity: | ||||
Common stock | 0 | |||
Capital in excess of par value | 356,460 | |||
Retained earnings (deficit) | (144,598) | |||
Accumulated other comprehensive income (loss) | (3,316) | |||
Total stockholder’s equity | 208,546 | |||
Total liabilities and stockholder’s equity | 1,693,459 | |||
Successor [Member] | ||||
Current liabilities: | ||||
Bank indebtedness and other long-term debt, less current portion | 970,556 | 971,333 | ||
Sale leaseback obligations, less current portion | $ 0 | |||
Eliminations | ||||
Current assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted Cash and Cash Equivalents | 0 | |||
Accounts receivable | (8,513) | (9,071) | ||
Inventories | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Total current assets | (8,513) | (9,071) | ||
Property and equipment, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Intercompany | (156,946) | (159,867) | ||
Investment in subsidiaries | (422,049) | (422,407) | ||
Other noncurrent assets | 0 | 0 | ||
Total assets | (587,508) | (591,345) | ||
Current liabilities: | ||||
Bank indebtedness and other long-term debt | 0 | 0 | ||
Capital lease obligations | 0 | 0 | ||
Accounts payable and accrued expenses | 0 | 0 | ||
Other current liabilities | 0 | 0 | ||
Total current liabilities | 0 | 0 | ||
Capital lease obligations, less current portion | 0 | 0 | ||
Bank indebtedness and other long-term debt, less current portion | 0 | 0 | ||
Deferred tax liability | 0 | 0 | ||
Intercompany | (165,459) | (168,938) | ||
Other noncurrent liabilities | 0 | 0 | ||
Total liabilities | (165,459) | (168,938) | ||
Stockholder’s equity: | ||||
Common stock | 0 | 0 | ||
Capital in excess of par value | (469,355) | (469,355) | ||
Retained earnings (deficit) | 44,744 | 43,632 | ||
Accumulated other comprehensive income (loss) | 2,562 | 3,316 | ||
Total stockholder’s equity | (422,049) | (422,407) | ||
Total liabilities and stockholder’s equity | $ (587,508) | $ (591,345) |
Condensed Consolidating Sched62
Condensed Consolidating Schedules - P&L (Details) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Feb. 14, 2014 | Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | Jun. 28, 2015 | Jan. 03, 2016 | Dec. 28, 2014 | |
Condensed Financial Statements, Captions [Line Items] | ||||||||
Payments to acquire franchisee | $ 0 | $ 0 | ||||||
Intangible assets, net | 487,068 | $ 488,095 | ||||||
Proceeds from sale of property and equipment | 79 | 97 | ||||||
Repayments of Senior Debt | 1,900 | 1,900 | ||||||
Net Cash Provided by (Used in) Operating Activities | 43,772 | 60,548 | ||||||
Intercompany Note, Investing | 0 | |||||||
Payments for (Proceeds from) Other Investing Activities | 3,625 | 185 | ||||||
Net Cash Provided by (Used in) Investing Activities | (22,369) | (16,860) | ||||||
Repayments on note payable | (11) | |||||||
Intercompany Note, Financing | 0 | |||||||
Repayments of Long-term Capital Lease Obligations | (101) | (100) | ||||||
Payments of Dividends | (386) | |||||||
Excess tax benefit realized from stock-based compensation | 4 | 0 | ||||||
Net Cash Provided by (Used in) Financing Activities | (2,478) | (2,397) | ||||||
Effect of foreign exchange rate changes on cash | 419 | (661) | ||||||
Change in cash and cash equivalents | 19,344 | 40,630 | ||||||
REVENUES: | ||||||||
Food and beverage sales | 122,202 | 116,537 | ||||||
Entertainment and merchandise sales | 147,557 | 144,744 | ||||||
Total company store sales | 269,759 | 261,281 | ||||||
Franchise fees and royalties | 4,559 | 4,227 | ||||||
International Association assessments and other fees | 0 | 0 | ||||||
Total revenues | 274,318 | 265,508 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 30,521 | 29,225 | ||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 8,750 | 8,522 | ||||||
Total cost of food, beverage, entertainment and merchandise | 39,271 | 37,747 | ||||||
Labor expenses | 69,043 | 67,173 | ||||||
Depreciation and amortization | 27,629 | 29,241 | ||||||
Other store operating expenses | 36,010 | 33,519 | ||||||
Total company store operating costs | 196,103 | 192,138 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 13,100 | 11,452 | ||||||
General and administrative expenses | 18,018 | 16,326 | ||||||
Transaction and severance costs | 749 | 905 | ||||||
Total operating costs and expenses | 227,970 | 220,821 | ||||||
Rent expense | 24,150 | 24,458 | ||||||
Operating income (loss) | 46,348 | 44,687 | ||||||
Equity in earnings (loss) in affiliates | 0 | 0 | ||||||
Interest expense (income) | 17,061 | 17,499 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 29,287 | 27,188 | ||||||
Income tax expense (benefit) | 11,372 | 12,446 | ||||||
Net income (loss) | 17,915 | 14,742 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 754 | (1,642) | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Comprehensive income (loss) | (18,669) | (13,100) | ||||||
Cash Equivalents, at Carrying Value | 151,624 | $ 110,994 | ||||||
Cash and cash equivalents | 69,998 | 151,624 | 50,654 | 110,994 | ||||
Predecessor [Member] | ||||||||
Other costs and expenses: | ||||||||
Transaction and severance costs | $ 11,600 | |||||||
Successor [Member] | ||||||||
REVENUES: | ||||||||
Food and beverage sales | $ 0 | |||||||
Entertainment and merchandise sales | 0 | |||||||
Total company store sales | 0 | $ 0 | ||||||
Franchise fees and royalties | 0 | |||||||
International Association assessments and other fees | 0 | |||||||
Total revenues | 0 | $ 0 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | |||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | |||||||
Total cost of food, beverage, entertainment and merchandise | 0 | $ 0 | ||||||
Labor expenses | 0 | |||||||
Depreciation and amortization | 0 | |||||||
Other store operating expenses | 0 | |||||||
Total company store operating costs | 0 | $ 0 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 0 | |||||||
General and administrative expenses | 0 | |||||||
Asset Impairment Charges | 0 | |||||||
Transaction and severance costs | 0 | 900 | ||||||
Total operating costs and expenses | 0 | $ 0 | ||||||
Rent expense | 0 | |||||||
Operating income (loss) | 0 | $ 0 | ||||||
Equity in earnings (loss) in affiliates | 0 | 0 | ||||||
Interest expense (income) | 0 | 0 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 0 | 0 | ||||||
Income tax expense (benefit) | 0 | 0 | ||||||
Net income (loss) | 0 | 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Total components of other comprehensive income (loss), net of tax | 0 | 0 | ||||||
Comprehensive income (loss) | 0 | $ 0 | ||||||
Issuer | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Intangible assets, net | 21,156 | |||||||
Proceeds from sale of property and equipment | 79 | 97 | ||||||
Repayments of Senior Debt | 1,900 | 1,900 | ||||||
Net Cash Provided by (Used in) Operating Activities | 40,445 | 53,409 | ||||||
Intercompany Note, Investing | (96) | |||||||
Payments for (Proceeds from) Other Investing Activities | 841 | 0 | ||||||
Net Cash Provided by (Used in) Investing Activities | (19,104) | (15,113) | ||||||
Repayments on note payable | 0 | |||||||
Intercompany Note, Financing | 0 | |||||||
Repayments of Long-term Capital Lease Obligations | (100) | (100) | ||||||
Payments of Dividends | (386) | |||||||
Excess tax benefit realized from stock-based compensation | 4 | |||||||
Net Cash Provided by (Used in) Financing Activities | (2,470) | (2,386) | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 18,871 | 35,910 | ||||||
REVENUES: | ||||||||
Food and beverage sales | 107,822 | 102,387 | ||||||
Entertainment and merchandise sales | 139,208 | 137,510 | ||||||
Total company store sales | 247,030 | 239,897 | ||||||
Franchise fees and royalties | 598 | 805 | ||||||
International Association assessments and other fees | 255 | 286 | ||||||
Total revenues | 247,883 | 240,988 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 26,644 | 25,390 | ||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 8,119 | 7,620 | ||||||
Total cost of food, beverage, entertainment and merchandise | 34,763 | 33,010 | ||||||
Labor expenses | 63,734 | 61,732 | ||||||
Depreciation and amortization | 26,563 | 27,619 | ||||||
Other store operating expenses | 33,763 | 31,509 | ||||||
Total company store operating costs | 181,080 | 176,173 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 12,420 | 9,141 | ||||||
General and administrative expenses | 7,183 | 4,893 | ||||||
Transaction and severance costs | 701 | 0 | ||||||
Total operating costs and expenses | 201,384 | 190,207 | ||||||
Rent expense | 22,257 | 22,303 | ||||||
Operating income (loss) | 46,499 | 50,781 | ||||||
Equity in earnings (loss) in affiliates | (1,112) | (7,769) | ||||||
Interest expense (income) | 16,602 | 16,737 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 28,785 | 26,275 | ||||||
Income tax expense (benefit) | 10,870 | 11,533 | ||||||
Net income (loss) | 17,915 | 14,742 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 754 | (1,642) | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Comprehensive income (loss) | (18,669) | (13,100) | ||||||
Cash Equivalents, at Carrying Value | 97,020 | |||||||
Cash and cash equivalents | 61,106 | 132,930 | 42,235 | |||||
Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Intangible assets, net | 465,912 | 466,240 | ||||||
Proceeds from sale of property and equipment | 0 | 0 | ||||||
Repayments of Senior Debt | 0 | 0 | ||||||
Net Cash Provided by (Used in) Operating Activities | 3,662 | 2,476 | ||||||
Intercompany Note, Investing | 2,500 | |||||||
Payments for (Proceeds from) Other Investing Activities | 2,784 | 185 | ||||||
Net Cash Provided by (Used in) Investing Activities | (3,235) | 1,292 | ||||||
Repayments on note payable | (11) | |||||||
Intercompany Note, Financing | 96 | |||||||
Repayments of Long-term Capital Lease Obligations | 0 | 0 | ||||||
Payments of Dividends | 0 | |||||||
Net Cash Provided by (Used in) Financing Activities | (7) | 85 | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 420 | 3,853 | ||||||
REVENUES: | ||||||||
Food and beverage sales | 12,788 | 12,316 | ||||||
Entertainment and merchandise sales | 5,598 | 4,110 | ||||||
Total company store sales | 18,386 | 16,426 | ||||||
Franchise fees and royalties | 3,961 | 3,422 | ||||||
International Association assessments and other fees | 615 | 662 | ||||||
Total revenues | 22,962 | 20,510 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 3,297 | 3,244 | ||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 445 | 753 | ||||||
Total cost of food, beverage, entertainment and merchandise | 3,742 | 3,997 | ||||||
Labor expenses | 3,999 | 3,930 | ||||||
Depreciation and amortization | 607 | 1,114 | ||||||
Other store operating expenses | 2,166 | 1,830 | ||||||
Total company store operating costs | 11,847 | 12,365 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 1,673 | 1,060 | ||||||
General and administrative expenses | 10,659 | 11,316 | ||||||
Transaction and severance costs | 48 | 905 | ||||||
Total operating costs and expenses | 24,227 | 25,646 | ||||||
Rent expense | 1,333 | 1,494 | ||||||
Operating income (loss) | (1,265) | (5,136) | ||||||
Equity in earnings (loss) in affiliates | 0 | 0 | ||||||
Interest expense (income) | 351 | 633 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | (1,616) | (5,769) | ||||||
Income tax expense (benefit) | 165 | 1,328 | ||||||
Net income (loss) | (1,781) | (7,097) | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Comprehensive income (loss) | 1,781 | 7,097 | ||||||
Cash Equivalents, at Carrying Value | 6,427 | |||||||
Cash and cash equivalents | 2,217 | 10,280 | 1,797 | |||||
Guarantors | Successor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Excess tax benefit realized from stock-based compensation | $ 0 | |||||||
REVENUES: | ||||||||
Food and beverage sales | 0 | |||||||
Entertainment and merchandise sales | 0 | |||||||
Total company store sales | 0 | $ 0 | ||||||
Franchise fees and royalties | 0 | |||||||
International Association assessments and other fees | 0 | |||||||
Total revenues | 0 | $ 0 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | |||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | |||||||
Total cost of food, beverage, entertainment and merchandise | 0 | $ 0 | ||||||
Labor expenses | 0 | |||||||
Depreciation and amortization | 0 | |||||||
Other store operating expenses | 0 | |||||||
Total company store operating costs | 0 | $ 0 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 0 | |||||||
General and administrative expenses | 0 | |||||||
Asset Impairment Charges | 0 | |||||||
Transaction and severance costs | 0 | |||||||
Total operating costs and expenses | 0 | $ 0 | ||||||
Rent expense | 0 | |||||||
Operating income (loss) | 0 | $ 0 | ||||||
Equity in earnings (loss) in affiliates | 0 | |||||||
Interest expense (income) | 0 | |||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 0 | $ 0 | ||||||
Income tax expense (benefit) | 0 | |||||||
Net income (loss) | 0 | $ 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | |||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Total components of other comprehensive income (loss), net of tax | 0 | $ 0 | ||||||
Comprehensive income (loss) | 0 | $ 0 | ||||||
Non-Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Intangible assets, net | 0 | 0 | ||||||
Proceeds from sale of property and equipment | 0 | 0 | ||||||
Repayments of Senior Debt | 0 | 0 | ||||||
Net Cash Provided by (Used in) Operating Activities | (335) | 4,663 | ||||||
Intercompany Note, Investing | 0 | |||||||
Payments for (Proceeds from) Other Investing Activities | 0 | |||||||
Net Cash Provided by (Used in) Investing Activities | (30) | (635) | ||||||
Intercompany Note, Financing | (2,500) | |||||||
Repayments of Long-term Capital Lease Obligations | (1) | 0 | ||||||
Payments of Dividends | 0 | |||||||
Net Cash Provided by (Used in) Financing Activities | (1) | (2,500) | ||||||
Effect of foreign exchange rate changes on cash | 419 | (661) | ||||||
Change in cash and cash equivalents | 53 | 867 | ||||||
REVENUES: | ||||||||
Food and beverage sales | 1,592 | 1,834 | ||||||
Entertainment and merchandise sales | 2,751 | 3,124 | ||||||
Total company store sales | 4,343 | 4,958 | ||||||
Franchise fees and royalties | 0 | 0 | ||||||
International Association assessments and other fees | 11,958 | 8,653 | ||||||
Total revenues | 16,301 | 13,611 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 580 | 591 | ||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 186 | 149 | ||||||
Total cost of food, beverage, entertainment and merchandise | 766 | 740 | ||||||
Labor expenses | 1,310 | 1,511 | ||||||
Depreciation and amortization | 459 | 508 | ||||||
Other store operating expenses | 951 | 1,128 | ||||||
Total company store operating costs | 4,046 | 4,548 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 10,965 | 9,904 | ||||||
General and administrative expenses | 176 | 117 | ||||||
Transaction and severance costs | 0 | 0 | ||||||
Total operating costs and expenses | 15,187 | 14,569 | ||||||
Rent expense | 560 | 661 | ||||||
Operating income (loss) | 1,114 | (958) | ||||||
Equity in earnings (loss) in affiliates | 0 | 0 | ||||||
Interest expense (income) | 108 | 129 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 1,006 | (1,087) | ||||||
Income tax expense (benefit) | 337 | (415) | ||||||
Net income (loss) | 669 | (672) | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (754) | (1,642) | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Comprehensive income (loss) | 85 | 2,314 | ||||||
Cash Equivalents, at Carrying Value | 7,547 | |||||||
Cash and cash equivalents | 6,675 | $ 8,414 | 6,622 | |||||
Non-Guarantors | Predecessor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Repayments on note payable | ||||||||
Non-Guarantors | Successor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Payments for (Proceeds from) Other Investing Activities | $ 0 | |||||||
Excess tax benefit realized from stock-based compensation | 0 | |||||||
REVENUES: | ||||||||
Food and beverage sales | 0 | |||||||
Entertainment and merchandise sales | 0 | |||||||
Total company store sales | 0 | $ 0 | ||||||
Franchise fees and royalties | 0 | |||||||
International Association assessments and other fees | 0 | |||||||
Total revenues | 0 | $ 0 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | |||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | |||||||
Total cost of food, beverage, entertainment and merchandise | 0 | $ 0 | ||||||
Labor expenses | 0 | |||||||
Depreciation and amortization | 0 | |||||||
Other store operating expenses | 0 | |||||||
Total company store operating costs | 0 | $ 0 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 0 | |||||||
General and administrative expenses | 0 | |||||||
Asset Impairment Charges | 0 | |||||||
Transaction and severance costs | 0 | |||||||
Total operating costs and expenses | 0 | $ 0 | ||||||
Rent expense | 0 | |||||||
Operating income (loss) | 0 | $ 0 | ||||||
Equity in earnings (loss) in affiliates | 0 | |||||||
Interest expense (income) | 0 | |||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 0 | $ 0 | ||||||
Income tax expense (benefit) | 0 | |||||||
Net income (loss) | 0 | $ 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | |||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Total components of other comprehensive income (loss), net of tax | 0 | $ 0 | ||||||
Comprehensive income (loss) | 0 | $ 0 | ||||||
Subsidiary Issuer [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Intangible assets, net | 21,855 | |||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Cash and cash equivalents | 42,235 | |||||||
Subsidiary Issuer [Member] | Successor [Member] | ||||||||
REVENUES: | ||||||||
Food and beverage sales | 0 | |||||||
Entertainment and merchandise sales | 0 | |||||||
Total company store sales | 0 | $ 0 | ||||||
Franchise fees and royalties | 0 | |||||||
International Association assessments and other fees | 0 | |||||||
Total revenues | 0 | $ 0 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | |||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | |||||||
Total cost of food, beverage, entertainment and merchandise | 0 | $ 0 | ||||||
Labor expenses | 0 | |||||||
Depreciation and amortization | 0 | |||||||
Other store operating expenses | 0 | |||||||
Total company store operating costs | 0 | $ 0 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 0 | |||||||
General and administrative expenses | 0 | |||||||
Asset Impairment Charges | 0 | |||||||
Transaction and severance costs | 0 | |||||||
Total operating costs and expenses | 0 | $ 0 | ||||||
Rent expense | 0 | |||||||
Operating income (loss) | 0 | $ 0 | ||||||
Equity in earnings (loss) in affiliates | 0 | |||||||
Interest expense (income) | 0 | |||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 0 | $ 0 | ||||||
Income tax expense (benefit) | 0 | |||||||
Net income (loss) | 0 | $ 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | |||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Total components of other comprehensive income (loss), net of tax | 0 | $ 0 | ||||||
Comprehensive income (loss) | 0 | $ 0 | ||||||
Eliminations | ||||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Cash Equivalents, at Carrying Value | 0 | $ 0 | ||||||
Eliminations | Successor [Member] | ||||||||
Other costs and expenses: | ||||||||
Transaction and severance costs | ||||||||
Eliminations | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Intangible assets, net | 0 | 0 | ||||||
Proceeds from sale of property and equipment | 0 | 0 | ||||||
Repayments of Senior Debt | 0 | 0 | ||||||
Net Cash Provided by (Used in) Operating Activities | 0 | 0 | ||||||
Intercompany Note, Investing | (2,404) | |||||||
Payments for (Proceeds from) Other Investing Activities | 0 | |||||||
Net Cash Provided by (Used in) Investing Activities | 0 | (2,404) | ||||||
Intercompany Note, Financing | 2,404 | |||||||
Repayments of Long-term Capital Lease Obligations | 0 | 0 | ||||||
Payments of Dividends | 0 | |||||||
Net Cash Provided by (Used in) Financing Activities | 0 | 2,404 | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 0 | 0 | ||||||
REVENUES: | ||||||||
Food and beverage sales | 0 | 0 | ||||||
Entertainment and merchandise sales | 0 | 0 | ||||||
Total company store sales | 0 | 0 | ||||||
Franchise fees and royalties | 0 | 0 | ||||||
International Association assessments and other fees | (12,828) | (9,601) | ||||||
Total revenues | (12,828) | (9,601) | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | 0 | ||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | 0 | ||||||
Total cost of food, beverage, entertainment and merchandise | 0 | 0 | ||||||
Labor expenses | 0 | 0 | ||||||
Depreciation and amortization | 0 | 0 | ||||||
Other store operating expenses | (870) | (948) | ||||||
Total company store operating costs | (870) | (948) | ||||||
Other costs and expenses: | ||||||||
Advertising expense | (11,958) | (8,653) | ||||||
General and administrative expenses | 0 | 0 | ||||||
Transaction and severance costs | 0 | 0 | ||||||
Total operating costs and expenses | (12,828) | (9,601) | ||||||
Rent expense | 0 | 0 | ||||||
Operating income (loss) | 0 | 0 | ||||||
Equity in earnings (loss) in affiliates | 1,112 | 7,769 | ||||||
Interest expense (income) | 0 | 0 | ||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 1,112 | 7,769 | ||||||
Income tax expense (benefit) | 0 | 0 | ||||||
Net income (loss) | 1,112 | 7,769 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 754 | 1,642 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Comprehensive income (loss) | (1,866) | $ (9,411) | ||||||
Cash and cash equivalents | $ 0 | $ 0 | ||||||
Eliminations | Predecessor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Repayments on note payable | ||||||||
Eliminations | Successor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Payments for (Proceeds from) Other Investing Activities | $ 0 | |||||||
Excess tax benefit realized from stock-based compensation | $ 0 | |||||||
REVENUES: | ||||||||
Food and beverage sales | 0 | |||||||
Entertainment and merchandise sales | 0 | |||||||
Total company store sales | 0 | $ 0 | ||||||
Franchise fees and royalties | 0 | |||||||
International Association assessments and other fees | 0 | |||||||
Total revenues | 0 | $ 0 | ||||||
Company store operating costs: | ||||||||
Cost of food and beverage (exclusive of items shown separately below) | 0 | |||||||
Cost of entertainment and merchandise (exclusive of items shown separately below) | 0 | |||||||
Total cost of food, beverage, entertainment and merchandise | 0 | $ 0 | ||||||
Labor expenses | 0 | |||||||
Depreciation and amortization | 0 | |||||||
Other store operating expenses | 0 | |||||||
Total company store operating costs | 0 | $ 0 | ||||||
Other costs and expenses: | ||||||||
Advertising expense | 0 | |||||||
General and administrative expenses | 0 | |||||||
Asset Impairment Charges | 0 | |||||||
Transaction and severance costs | 0 | |||||||
Total operating costs and expenses | 0 | $ 0 | ||||||
Rent expense | 0 | |||||||
Operating income (loss) | 0 | $ 0 | ||||||
Equity in earnings (loss) in affiliates | 0 | |||||||
Interest expense (income) | 0 | |||||||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | 0 | $ 0 | ||||||
Income tax expense (benefit) | 0 | |||||||
Net income (loss) | 0 | $ 0 | ||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 0 | |||||||
Components of other comprehensive income (loss), net of tax: | ||||||||
Total components of other comprehensive income (loss), net of tax | 0 | $ 0 | ||||||
Comprehensive income (loss) | $ 0 | $ 0 |
Condensed Consolidating Sched63
Condensed Consolidating Schedules - Cash Flow (Details) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 6 Months Ended | |||||
Feb. 14, 2014 | Apr. 03, 2016 | Sep. 27, 2015 | Mar. 29, 2015 | Sep. 28, 2014 | Jun. 28, 2015 | Jan. 03, 2016 | Dec. 28, 2014 | |
Condensed Financial Statements, Captions [Line Items] | ||||||||
Capital lease obligations, less current portion | $ 14,934 | $ 15,044 | ||||||
Capital lease obligations | 435 | 421 | ||||||
Transaction and severance costs | 749 | $ 905 | ||||||
Cash flows provided by (used in) operating activities: | ||||||||
Net Cash Provided by (Used in) Operating Activities | 43,772 | 60,548 | ||||||
Cash flows provided by (used in) investing activities: | ||||||||
Acquisition of Predecessor | 0 | (663) | ||||||
Other Payments to Acquire Businesses | (663) | |||||||
Payments to acquire franchisee | 0 | 0 | ||||||
Intercompany Note, Investing | 0 | |||||||
Proceeds from sale of property and equipment | (18,823) | (16,109) | ||||||
Proceeds from Sale of Property, Plant, and Equipment | 79 | 97 | ||||||
Payments to Develop Software | (3,625) | (185) | ||||||
Net cash used in investing activities | (22,369) | (16,860) | ||||||
Repayments on senior term loan | (1,900) | (1,900) | ||||||
Repayments of Notes Payable | (7) | |||||||
Cash flows from financing activities: | ||||||||
Intercompany Note, Financing | 0 | |||||||
Repayments on note payable | (11) | |||||||
Repayments of Long-term Capital Lease Obligations | (101) | (100) | ||||||
Sale Leaseback Transaction, Payments, Financing Activities | (474) | (386) | ||||||
Payments of Dividends | (386) | |||||||
Excess tax benefit realized from stock-based compensation | 4 | 0 | ||||||
Net cash provided by (used in) financing activities | (2,478) | (2,397) | ||||||
Effect of foreign exchange rate changes on cash | 419 | (661) | ||||||
Change in cash and cash equivalents | 19,344 | 40,630 | ||||||
Cash and cash equivalents at beginning of period | 50,654 | 110,994 | $ 110,994 | |||||
Cash and cash equivalents at end of period | 69,998 | 151,624 | ||||||
Cash Equivalents, at Carrying Value | 151,624 | $ 110,994 | ||||||
Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Capital lease obligations, less current portion | 0 | 0 | ||||||
Capital lease obligations | 0 | 0 | ||||||
Transaction and severance costs | 48 | 905 | ||||||
Cash flows provided by (used in) operating activities: | ||||||||
Net Cash Provided by (Used in) Operating Activities | 3,662 | 2,476 | ||||||
Cash flows provided by (used in) investing activities: | ||||||||
Other Payments to Acquire Businesses | 0 | |||||||
Intercompany Note, Investing | 2,500 | |||||||
Proceeds from sale of property and equipment | (451) | (1,023) | ||||||
Proceeds from Sale of Property, Plant, and Equipment | 0 | 0 | ||||||
Payments to Develop Software | (2,784) | (185) | ||||||
Net cash used in investing activities | (3,235) | 1,292 | ||||||
Repayments on senior term loan | 0 | 0 | ||||||
Repayments of Notes Payable | (7) | |||||||
Cash flows from financing activities: | ||||||||
Intercompany Note, Financing | 96 | |||||||
Repayments on note payable | (11) | |||||||
Repayments of Long-term Capital Lease Obligations | 0 | 0 | ||||||
Sale Leaseback Transaction, Payments, Financing Activities | 0 | |||||||
Payments of Dividends | 0 | |||||||
Net cash provided by (used in) financing activities | (7) | 85 | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 420 | 3,853 | ||||||
Cash and cash equivalents at beginning of period | 1,797 | |||||||
Cash and cash equivalents at end of period | 2,217 | 10,280 | ||||||
Cash Equivalents, at Carrying Value | 6,427 | |||||||
Non-Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Capital lease obligations, less current portion | 67 | 64 | ||||||
Capital lease obligations | 5 | 3 | ||||||
Transaction and severance costs | 0 | 0 | ||||||
Cash flows provided by (used in) operating activities: | ||||||||
Net Cash Provided by (Used in) Operating Activities | (335) | 4,663 | ||||||
Cash flows provided by (used in) investing activities: | ||||||||
Other Payments to Acquire Businesses | 0 | |||||||
Intercompany Note, Investing | 0 | |||||||
Proceeds from sale of property and equipment | (30) | (635) | ||||||
Proceeds from Sale of Property, Plant, and Equipment | 0 | 0 | ||||||
Payments to Develop Software | 0 | |||||||
Net cash used in investing activities | (30) | (635) | ||||||
Repayments on senior term loan | 0 | 0 | ||||||
Repayments of Notes Payable | 0 | |||||||
Cash flows from financing activities: | ||||||||
Intercompany Note, Financing | (2,500) | |||||||
Repayments of Long-term Capital Lease Obligations | (1) | 0 | ||||||
Sale Leaseback Transaction, Payments, Financing Activities | 0 | |||||||
Payments of Dividends | 0 | |||||||
Net cash provided by (used in) financing activities | (1) | (2,500) | ||||||
Effect of foreign exchange rate changes on cash | 419 | (661) | ||||||
Change in cash and cash equivalents | 53 | 867 | ||||||
Cash and cash equivalents at beginning of period | 6,622 | |||||||
Cash and cash equivalents at end of period | 6,675 | 8,414 | ||||||
Cash Equivalents, at Carrying Value | 7,547 | |||||||
Issuer | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Capital lease obligations, less current portion | 14,867 | |||||||
Capital lease obligations | 430 | |||||||
Transaction and severance costs | 701 | 0 | ||||||
Cash flows provided by (used in) operating activities: | ||||||||
Net Cash Provided by (Used in) Operating Activities | 40,445 | 53,409 | ||||||
Cash flows provided by (used in) investing activities: | ||||||||
Other Payments to Acquire Businesses | (663) | |||||||
Intercompany Note, Investing | (96) | |||||||
Proceeds from sale of property and equipment | (18,342) | (14,451) | ||||||
Proceeds from Sale of Property, Plant, and Equipment | 79 | 97 | ||||||
Payments to Develop Software | (841) | 0 | ||||||
Net cash used in investing activities | (19,104) | (15,113) | ||||||
Repayments on senior term loan | (1,900) | (1,900) | ||||||
Repayments of Notes Payable | 0 | |||||||
Cash flows from financing activities: | ||||||||
Intercompany Note, Financing | 0 | |||||||
Repayments on note payable | 0 | |||||||
Repayments of Long-term Capital Lease Obligations | (100) | (100) | ||||||
Sale Leaseback Transaction, Payments, Financing Activities | (474) | |||||||
Payments of Dividends | (386) | |||||||
Excess tax benefit realized from stock-based compensation | 4 | |||||||
Net cash provided by (used in) financing activities | (2,470) | (2,386) | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 18,871 | 35,910 | ||||||
Cash and cash equivalents at beginning of period | 42,235 | |||||||
Cash and cash equivalents at end of period | 61,106 | 132,930 | ||||||
Cash Equivalents, at Carrying Value | 97,020 | |||||||
Eliminations | ||||||||
Cash flows from financing activities: | ||||||||
Cash Equivalents, at Carrying Value | 0 | $ 0 | ||||||
Successor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | $ 0 | 900 | ||||||
Successor [Member] | Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | 0 | |||||||
Cash flows from financing activities: | ||||||||
Excess tax benefit realized from stock-based compensation | 0 | |||||||
Successor [Member] | Non-Guarantors | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | 0 | |||||||
Cash flows provided by (used in) investing activities: | ||||||||
Payments to Develop Software | $ 0 | |||||||
Cash flows from financing activities: | ||||||||
Excess tax benefit realized from stock-based compensation | 0 | |||||||
Successor [Member] | Eliminations | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | ||||||||
Predecessor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | $ 11,600 | |||||||
Predecessor [Member] | Non-Guarantors | ||||||||
Cash flows from financing activities: | ||||||||
Repayments on note payable | ||||||||
Eliminations | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Capital lease obligations, less current portion | 0 | 0 | ||||||
Capital lease obligations | 0 | $ 0 | ||||||
Transaction and severance costs | 0 | $ 0 | ||||||
Cash flows provided by (used in) operating activities: | ||||||||
Net Cash Provided by (Used in) Operating Activities | 0 | 0 | ||||||
Cash flows provided by (used in) investing activities: | ||||||||
Other Payments to Acquire Businesses | 0 | |||||||
Intercompany Note, Investing | (2,404) | |||||||
Proceeds from sale of property and equipment | 0 | 0 | ||||||
Proceeds from Sale of Property, Plant, and Equipment | 0 | 0 | ||||||
Payments to Develop Software | 0 | |||||||
Net cash used in investing activities | 0 | (2,404) | ||||||
Repayments on senior term loan | 0 | 0 | ||||||
Repayments of Notes Payable | 0 | |||||||
Cash flows from financing activities: | ||||||||
Intercompany Note, Financing | 2,404 | |||||||
Repayments of Long-term Capital Lease Obligations | 0 | 0 | ||||||
Sale Leaseback Transaction, Payments, Financing Activities | 0 | |||||||
Payments of Dividends | 0 | |||||||
Net cash provided by (used in) financing activities | 0 | 2,404 | ||||||
Effect of foreign exchange rate changes on cash | 0 | 0 | ||||||
Change in cash and cash equivalents | 0 | 0 | ||||||
Cash and cash equivalents at beginning of period | 0 | |||||||
Cash and cash equivalents at end of period | $ 0 | |||||||
Eliminations | Successor [Member] | ||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||
Transaction and severance costs | $ 0 | |||||||
Cash flows provided by (used in) investing activities: | ||||||||
Payments to Develop Software | $ 0 | |||||||
Cash flows from financing activities: | ||||||||
Excess tax benefit realized from stock-based compensation | $ 0 | |||||||
Eliminations | Predecessor [Member] | ||||||||
Cash flows from financing activities: | ||||||||
Repayments on note payable |
Subsequent Events (Details)
Subsequent Events (Details) $ in Millions | Oct. 15, 2014USD ($) |
Peter Piper Pizza [Member] | |
Subsequent Event [Line Items] | |
Payments to Acquire Businesses, Net of Cash Acquired | $ 113.1 |
Related Party Transactions (Det
Related Party Transactions (Details) $ in Millions | 3 Months Ended |
Apr. 03, 2016USD ($) | |
Issuer | |
Related Party Transaction [Line Items] | |
Related Party Transaction, Expenses from Transactions with Related Party | $ 0.5 |