Papa John's International (PZZA) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2020	Jul. 30, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2020
Document Fiscal Year Focus	2020
Document Transition Report	false
Entity File Number	0-21660
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1203323
Entity Address, Address Line One	2002 Papa John’s Boulevard
Entity Address, City or Town	Louisville
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40299-2367
City Area Code	502
Local Phone Number	261-7272
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	PZZA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,814,222
Entity Registrant Name	PAPA JOHNS INTERNATIONAL INC
Entity Central Index Key	0000901491
Current Fiscal Year End Date	--12-27
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 75,699	$ 27,911
Accounts receivable, net	73,530	80,921
Notes receivable, current portion	9,651	7,790
Income tax receivable	755	4,024
Inventories	32,546	27,529
Prepaid expenses and other current assets	33,292	33,371
Total current assets	225,473	181,546
Property and equipment, net	200,581	211,741
Finance lease right-of-use assets, net	8,978	9,383
Operating lease right-of-use assets	141,861	148,229
Notes receivable, less current portion, net	32,158	33,010
Goodwill	79,634	80,340
Deferred income taxes	4,978	1,839
Other assets	64,074	64,633
Total assets	757,737	730,721
Current liabilities:
Accounts payable	30,699	29,141
Income and other taxes payable	11,200	7,599
Accrued expenses and other current liabilities	134,989	120,566
Current deferred revenue	5,382	5,624
Current finance lease liabilities	3,879	1,789
Current operating lease liabilities	22,663	23,226
Current portion of long-term debt	20,107	20,000
Total current liabilities	228,919	207,945
Deferred revenue	13,543	14,722
Long-term finance lease liabilities	5,265	7,629
Long-term operating lease liabilities	118,946	125,297
Long-term debt, less current portion, net	327,932	347,290
Deferred income taxes	859	2,649
Other long-term liabilities	95,627	84,927
Total liabilities	791,091	790,459
Series B Convertible Preferred Stock; $0.01 par value; 260.0 shares authorized, 252.5 shares issued and outstanding at June 28, 2020 and December 29, 2019	251,827	251,133
Redeemable noncontrolling interests	6,667	5,785
Stockholders' deficit:
Common stock ($0.01 par value per share; issued 45,122 at June 28, 2020 and 44,748 at December 29, 2019)	451	447
Additional paid-in capital	243,577	219,047
Accumulated other comprehensive loss	(21,104)	(10,185)
Retained earnings	212,104	205,697
Treasury stock (12,773 shares at June 28, 2020 and 12,854 shares at December 29, 2019, at cost)	(742,600)	(747,327)
Total stockholders' deficit	(307,572)	(332,321)
Noncontrolling interests in subsidiaries	15,724	15,665
Total Stockholders' deficit	(291,848)	(316,656)
Total liabilities, Series B Convertible Preferred Stock, Redeemable noncontrolling interests and Stockholders' deficit	$ 757,737	$ 730,721

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 28, 2020	Dec. 29, 2019
Condensed Consolidated Balance Sheets
Series B Convertible Preferred Stock, par value	$ 0.01	$ 0.01
Series B Convertible Preferred Stock, shares authorized	260,000	260,000
Series B Convertible Preferred Stock, shares issued	252,500	252,500
Series B Convertible Preferred Stock, shares outstanding	252,530	252,500
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	45,122,000	44,748,000
Treasury stock, shares	12,773,000	12,854,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 460,623	$ 399,623	$ 870,482	$ 798,028
Costs and expenses:
General and administrative expenses	48,428	48,718	96,079	99,853
Depreciation and amortization	12,377	11,521	24,672	23,270
Total costs and expenses	430,089	385,555	824,476	778,451
Refranchising gains		163		163
Operating income	30,534	14,231	46,006	19,740
Net interest expense	(3,627)	(4,272)	(7,594)	(10,548)
Income before income taxes	26,907	9,959	38,412	9,192
Income tax expense	4,956	1,283	7,468	2,114
Net income before attribution to noncontrolling interests	21,951	8,676	30,944	7,078
Net income attributable to noncontrolling interests	(1,337)	(322)	(1,887)	(455)
Net income attributable to the Company	20,614	8,354	29,057	6,623
Calculation of net income for earnings per share:
Net income attributable to the Company	20,614	8,354	29,057	6,623
Preferred stock dividends and accretion	(3,347)	(3,486)	(6,818)	(5,556)
Net income attributable to participating securities	(1,560)		(1,306)
Net income attributable to common shareholders	$ 15,707	$ 4,868	$ 20,933	$ 1,067
Basic earnings per common share	$ 0.49	$ 0.15	$ 0.65	$ 0.03
Diluted earnings per common share	$ 0.48	$ 0.15	$ 0.65	$ 0.03
Basic weighted average common shares outstanding	32,335	31,587	32,214	31,570
Diluted weighted average common shares outstanding	32,619	31,773	32,444	31,746
Dividends declared per common share	$ 0.225	$ 0.225	$ 0.450	$ 0.450
Domestic Company-owned restaurants
Revenues:
Total revenues	$ 186,506	$ 163,656	$ 347,946	$ 325,459
Costs and expenses:
Operating costs (excluding depreciation and amortization shown separately below):	145,168	131,950	274,279	265,003
North America franchising
Revenues:
Total revenues	24,174	19,761	43,614	37,291
North America commissary
Revenues:
Total revenues	167,619	147,128	323,041	296,032
Costs and expenses:
Operating costs (excluding depreciation and amortization shown separately below):	154,467	136,744	298,739	275,301
International
Revenues:
Total revenues	28,093	25,497	54,152	51,164
Costs and expenses:
Operating costs (excluding depreciation and amortization shown separately below):	18,304	14,652	33,405	28,957
Other segment
Revenues:
Total revenues	54,231	43,581	101,729	88,082
Costs and expenses:
Operating costs (excluding depreciation and amortization shown separately below):	$ 51,345	$ 41,970	$ 97,302	$ 86,067

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Condensed Consolidated Statements of Comprehensive Income (Loss)
Net income before attribution to noncontrolling interests	$ 21,951	$ 8,676	$ 30,944	$ 7,078
Other comprehensive loss, before tax:
Foreign currency translation adjustments	(334)	(1,537)	(3,159)	196
Interest rate swaps	(103)	(6,699)	(11,022)	(10,654)
Other comprehensive loss, before tax	(437)	(8,236)	(14,181)	(10,458)
Income tax effect:
Foreign currency translation adjustments	77	354	727	(45)
Interest rate swaps	24	1,532	2,535	2,450
Income tax effect	101	1,886	3,262	2,405
Other comprehensive loss, net of tax	(336)	(6,350)	(10,919)	(8,053)
Comprehensive income (loss) before attribution to noncontrolling interests	21,615	2,326	20,025	(975)
Less: comprehensive (income) loss, redeemable noncontrolling interests	(707)	(32)	(883)	87
Less: comprehensive (income), nonredeemable noncontrolling interests	(630)	(290)	(1,004)	(542)
Comprehensive income (loss) attributable to the Company	$ 20,278	$ 2,004	$ 18,138	$ (1,430)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Consolidated Statements of Comprehensive Income (Unaudited)
Net Interest income (expense)	$ (3,627)	$ (4,272)	$ (7,594)	$ (10,548)
Income tax (benefit) expense	4,956	1,283	7,468	2,114
Qualifying as hedges | Interest rate swap | Amount reclassified from AOCL
Consolidated Statements of Comprehensive Income (Unaudited)
Net Interest income (expense)	(1,372)	231	(1,702)	688
Income tax (benefit) expense	$ (332)	$ 53	$ (412)	$ 158

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock	Noncontrolling Interests in Subsidiaries	Total
Balance at Dec. 30, 2018	$ 443	$ 192,984	$ (3,143)	$ 242,182	$ (751,704)	$ 15,225	$ (304,013)
Balance (in shares) at Dec. 30, 2018	31,372
Net income (loss)				6,623		542	7,165
Other comprehensive loss			(8,053)				(8,053)
Cash dividends on common stock		95		(14,364)			(14,269)
Cash dividends on preferred stock				(5,470)			(5,470)
Exercise of stock options		93					93
Exercise of stock options (in shares)	4
Stock-based compensation expense		7,531					7,531
Issuance of restricted stock		(2,570)			2,570
Issuance of restricted stock (in shares)	44
Tax effect of restricted stock awards		(895)					(895)
Distributions to noncontrolling interests						(183)	(183)
Other		(311)		(138)	477		28
Other (in shares)	7
Balance at Jun. 30, 2019	$ 443	196,927	(11,196)	228,833	(748,657)	15,584	(318,066)
Balance (in shares) at Jun. 30, 2019	31,427
Balance at Mar. 31, 2019	$ 443	193,243	(4,846)	231,439	(748,995)	15,458	(313,258)
Balance (in shares) at Mar. 31, 2019	31,420
Net income (loss)				8,354		290	8,644
Other comprehensive loss			(6,350)				(6,350)
Cash dividends on common stock		59		(7,203)			(7,144)
Cash dividends on preferred stock				(3,428)			(3,428)
Exercise of stock options		42					42
Exercise of stock options (in shares)	1
Stock-based compensation expense		3,800					3,800
Issuance of restricted stock		(116)			116
Issuance of restricted stock (in shares)	2
Tax effect of restricted stock awards		(26)					(26)
Distributions to noncontrolling interests						(164)	(164)
Other		(75)		(329)	222		(182)
Other (in shares)	4
Balance at Jun. 30, 2019	$ 443	196,927	(11,196)	228,833	(748,657)	15,584	(318,066)
Balance (in shares) at Jun. 30, 2019	31,427
Cumulative effect of adoption of ASU 2016-13				(1,066)			(1,066)
Adjusted balance	$ 447	219,047	(10,185)	204,631	(747,327)	15,665	(317,722)
Balance at Dec. 29, 2019	$ 447	219,047	(10,185)	205,697	(747,327)	15,665	(316,656)
Balance (in shares) at Dec. 29, 2019	31,894
Net income (loss)				29,057		1,004	30,061
Other comprehensive loss			(10,919)				(10,919)
Cash dividends on common stock		132		(14,652)			(14,520)
Cash dividends on preferred stock				(6,825)			(6,825)
Exercise of stock options	$ 4	21,700					21,704
Exercise of stock options (in shares)	373
Stock-based compensation expense		8,742					8,742
Issuance of restricted stock		(4,468)			4,468
Issuance of restricted stock (in shares)	77
Tax effect of restricted stock awards		(1,579)					(1,579)
Distributions to noncontrolling interests						(945)	(945)
Other		3		(107)	259		155
Other (in shares)	5
Balance at Jun. 28, 2020	$ 451	243,577	(21,104)	212,104	(742,600)	15,724	(291,848)
Balance (in shares) at Jun. 28, 2020	32,349
Balance at Mar. 29, 2020	$ 448	220,187	(20,768)	202,287	(744,463)	16,009	(326,300)
Balance (in shares) at Mar. 29, 2020	31,971
Net income (loss)				20,614		630	21,244
Other comprehensive loss			(336)				(336)
Cash dividends on common stock		77		(7,360)			(7,283)
Cash dividends on preferred stock				(3,412)			(3,412)
Exercise of stock options	$ 3	20,460					20,463
Exercise of stock options (in shares)	346
Stock-based compensation expense		4,792					4,792
Issuance of restricted stock		(1,760)			1,760
Issuance of restricted stock (in shares)	30
Tax effect of restricted stock awards		(196)					(196)
Distributions to noncontrolling interests						(915)	(915)
Other		17		(25)	103		95
Other (in shares)	2
Balance at Jun. 28, 2020	$ 451	$ 243,577	$ (21,104)	$ 212,104	$ (742,600)	$ 15,724	$ (291,848)
Balance (in shares) at Jun. 28, 2020	32,349

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Income tax (benefit) expense	$ 4,956	$ 1,283	$ 7,468	$ 2,114
Accumulated other comprehensive income (loss)	(21,104)	(11,196)	(21,104)	(11,196)
Unrealized foreign currency translation gains (losses)	(8,031)	(6,709)	(8,031)	(6,709)
Net unrealized gain (loss) on the interest rate swap agreements	(13,073)	(4,487)	(13,073)	(4,487)
Joint ventures
Net income (loss) allocated to the redeemable noncontrolling interest from joint venture arrangements	$ 707	$ 32	$ 883	$ (87)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Operating activities
Net income before attribution to noncontrolling interests	$ 30,944	$ 7,078
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for uncollectible accounts and notes receivable	1,051	676
Depreciation and amortization	24,672	23,270
Deferred income taxes	(1,502)	(3,096)
Preferred stock option mark-to-market adjustment		5,914
Stock-based compensation expense	8,742	7,531
Gain on refranchising		(163)
Other	1,090	1,999
Changes in operating assets and liabilities:
Accounts receivable	(8,571)	(1,092)
Income tax receivable	4,278	11,699
Inventories	(5,017)	326
Prepaid expenses and other current assets	9,657	(5,383)
Other assets and liabilities	8,065	(2,094)
Accounts payable	1,558	5,410
Income and other taxes payable	3,601	565
Accrued expenses and other current liabilities	10,269	(17,297)
Deferred revenue	(1,179)	(3,168)
Net cash provided by operating activities	87,658	32,175
Investing activities
Purchases of property and equipment	(13,795)	(17,836)
Notes issued	(9,596)	(4,757)
Repayments of notes issued	6,462	2,234
Proceeds from divestitures of restaurants		225
Other	14	568
Net cash used in investing activities	(16,915)	(19,566)
Financing activities
Proceeds from issuance of preferred stock		252,530
Repayments of term loan	(10,000)	(10,000)
Net (repayments) proceeds of revolving credit facilities	(9,884)	(230,776)
Dividends paid to common stockholders	(14,520)	(14,269)
Dividends paid to preferred stockholders	(6,825)	(5,470)
Issuance costs associated with preferred stock		(7,250)
Tax payments for equity award issuances	(1,579)	(895)
Proceeds from exercise of stock options	21,704	93
Contributions from noncontrolling interest holders		840
Distributions to noncontrolling interest holders	(945)	(183)
Other	(704)	168
Net cash used in financing activities	(22,753)	(15,212)
Effect of exchange rate changes on cash and cash equivalents	(202)	1
Change in cash and cash equivalents	47,788	(2,602)
Cash and cash equivalents at beginning of period	27,911	33,258
Cash and cash equivalents at end of period	$ 75,699	$ 30,656

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 28, 2020
Basis of Presentation
Basis of Presentation	1. Basis of Presentation ​ The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete annual financial statements. In the opinion of management, all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 28, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending December 27, 2020. For further information, refer to the consolidated financial statements and footnotes thereto included in the Annual Report on Form 10-K for Papa John’s International, Inc. (referred to as the “Company”, “Papa John’s” or in the first-person notations of “we”, “us” and “our”) for the year ended December 29, 2019. ​

Update to Significant Accountin

Update to Significant Accounting Policies	6 Months Ended
	Jun. 28, 2020
Update to Significant Accounting Policies
Update to Significant Accounting Policies	2. Update to Significant Accounting Policies ​ Use of Estimates ​ The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Significant items that are subject to such estimates and assumptions include allowance for doubtful accounts and notes receivable, intangible assets, contract assets and contract liabilities, including the online customer loyalty program obligation, right-of-use assets and lease liabilities, gift card breakage, insurance reserves and tax reserves. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates. ​ Variable Interest Entity ​ Papa John’s domestic restaurants, both Company-owned and franchised, participate in Papa John’s Marketing Fund, Inc. (“PJMF”), a nonstock corporation designed to operate at break-even as it spends all annual contributions received from the system. PJMF collects a percentage of revenues from Company-owned and franchised restaurants in the United States for the purpose of designing and administering advertising and promotional programs. PJMF is a variable interest entity (“VIE”) that funds its operations with ongoing financial support and contributions from the domestic restaurants, of which approximately 80% are franchised, and does not have sufficient equity to fund its operations without these ongoing financial contributions. Based on an assessment of the governance structure and operating procedures of PJMF, the Company determined it has the power to control certain significant activities of PJMF, and therefore, is the primary beneficiary. The Company has consolidated PJMF in its financial results in accordance with Accounting Standards Codification (“ASC”) 810, “Consolidations.” ​ Noncontrolling Interests ​ Papa John’s has four joint venture arrangements in which there are noncontrolling interests held by third parties that include 192 restaurants at both June 28, 2020 and June 30, 2019. ​ Consolidated net income is required to be reported separately at amounts attributable to both the Company and the noncontrolling interests. Additionally, disclosures are required to clearly identify and distinguish between the interests of the Company and the interests of the noncontrolling owners, including a disclosure on the face of the Condensed Consolidated Statements of Operations of income attributable to the noncontrolling interest holders. ​ Net income attributable to these joint ventures for the three and six months ended June 28, 2020 and June 30, 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, ​ ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Papa John’s International, Inc. ​ $ 2,320 ​ $ 708 ​ $ 3,451 ​ $ 1,172 ​ Noncontrolling interests ​ 1,337 ​ 322 ​ 1,887 ​ 455 ​ Total net income ​ $ 3,657 ​ $ 1,030 ​ $ 5,338 ​ $ 1,627 ​ ​ The following summarizes the redemption feature, location and related accounting within the Condensed Consolidated Balance Sheets for these joint venture arrangements: ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of Joint Venture Arrangement Location within the Balance Sheets Recorded Value ​ ​ ​ ​ ​ Joint ventures with no redemption feature Permanent equity Carrying value Joint ventures with option to require the Company to purchase the noncontrolling interest - not currently redeemable or redemption not probable Temporary equity Carrying value ​ Deferred Income Tax Accounts and Tax Reserves ​ We are subject to income taxes in the United States and several foreign jurisdictions. Significant judgment is required in determining Papa John’s provision for income taxes and the related assets and liabilities. The provision for income taxes includes income taxes paid, currently payable or receivable and those deferred. We use an estimated annual effective rate based on expected annual income to determine our quarterly provision for income taxes. The effective income tax rate includes the estimated domestic state effective income tax rate and applicable foreign income tax rates. The effective income tax rate is also impacted by various permanent items and credits, net of any related valuation allowances, and can vary based on changes in estimated annual income. Discrete items are recorded in the quarter in which they occur. ​ Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences reverse. Deferred tax assets are also recognized for the estimated future effects of tax attribute carryforwards (e.g., net operating losses, capital losses, and foreign tax credits). The effect on deferred taxes of changes in tax rates is recognized in the period in which the new tax rate is enacted. Valuation allowances are established when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts we expect to realize. ​ Tax authorities periodically audit the Company. We record reserves and related interest and penalties for identified exposures as income tax expense. We evaluate these issues on a quarterly basis to adjust for events, such as statute of limitations expirations, court or state rulings or audit settlements, which may impact our ultimate payment for such exposures. ​ Fair Value Measurements and Disclosures ​ The Company is required to determine the fair value of financial assets and liabilities based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. Fair value is a market-based measurement, not an entity-specific measurement. The fair value of certain assets and liabilities approximates carrying value because of the short-term nature of the accounts, including cash and cash equivalents, accounts receivable, net of allowances, and accounts payable. The carrying value of notes receivable, net of allowances, also approximates fair value. The fair value of the amount outstanding under our term debt approximates the carrying value due to the variable market-based interest rate (Level 2). ​ Certain assets and liabilities are measured at fair value on a recurring basis and are required to be classified and disclosed in one of the following categories: ​ ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. ​ Our financial assets and liabilities that were measured at fair value on a recurring basis as of June 28, 2020 and December 29, 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements ​ Value Level 1 Level 2 Level 3 June 28, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 32,155 ​ $ 32,155 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 17,050 ​ — ​ 17,050 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 29, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 33,220 ​ $ 33,220 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 6,168 ​ — ​ 6,168 ​ — ​ (a) Represents life insurance policies held in our non-qualified deferred compensation plan. (b) The fair value of our interest rate swaps is based on the sum of all future net present value cash flows. The future cash flows are derived based on the terms of our interest rate swaps, as well as considering published discount factors, and projected London Interbank Offered Rates (“LIBOR”). ​ ​ Accounting Standards Adopted ​ Financial Instruments – Credit Losses ​ In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected versus incurred losses for financial assets held. The Company adopted ASU 2016-13 as of December 30, 2019 (the first day of fiscal 2020) under the modified retrospective transition method. Financial instruments subject to ASU 2016-13 include trade accounts receivable, notes receivable and interest receivable (classified as Other assets in the Condensed Consolidated Balance Sheet) from franchisees. The impact of the adoption was not material to our condensed consolidated financial statements. Upon adoption, the Company recorded a cumulative effect adjustment to retained earnings of $1.1 million, net of $0.3 million of income taxes, on the opening Condensed Consolidated Balance Sheet as of December 30, 2019. ​ Estimates of expected credit losses, even if remote, are based upon historical account write-off trends, facts about the current financial condition of the debtor, forecasts of future operating results based upon current trends of select operating metrics, and macroeconomic factors. Credit quality is monitored through the timing of payments compared to the prescribed payment terms and known facts regarding the financial condition of the franchisee or customer. Account and note balances are charged off against the allowance after recovery efforts have ceased. ​ The following table summarizes changes in our allowances for credit losses for accounts receivable, notes receivable and interest receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Accounts Receivable ​ Notes Receivable ​ Interest Receivable Balance at December 29, 2019 $ 7,341 ​ $ 3,572 ​ $ 910 Cumulative effect of adoption of ASU 2016-13 ​ 912 ​ ​ 463 ​ ​ - Balance at December 30, 2019 ​ 8,253 ​ ​ 4,035 ​ ​ 910 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period provision for expected credit losses ​ 833 ​ ​ 74 ​ ​ 144 Write-offs charged against the allowance ​ (431) ​ ​ (10) ​ ​ - Recoveries collected ​ - ​ ​ (56) ​ ​ - Transfers ​ - ​ ​ 1,054 ​ ​ (1,054) Balance at June 28, 2020 $ 8,655 ​ $ 5,097 ​ $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounting Standards to be Adopted in Future Periods ​ Reference Rate Reform – Hedging ​ In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU is intended to provide temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. This guidance was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its condensed consolidated financial statements and related disclosures.

Leases

Leases	6 Months Ended
	Jun. 28, 2020
Leases
Leases	​ ​ 3. Leases ​ Lessor Operating Leases We sublease certain retail space to our franchisees in the United Kingdom which are primarily operating leases. At June 28, 2020, we leased and subleased approximately 370 Papa John’s restaurants to franchisees in the United Kingdom. The initial lease terms on the franchised sites in the United Kingdom are generally 15 years. The Company has the option to negotiate an extension toward the end of the lease term at the landlord’s discretion. Rental income, primarily derived from properties leased and subleased to franchisees in the United Kingdom, is recognized on a straight-line basis over the respective operating lease terms. We recognized total sublease income of $5.0 million and $4.8 million for the six months ended June 28, 2020 and June 30, 2019, respectively. Lease Guarantees As a result of assigning our interest in obligations under property leases as a condition of the refranchising of certain restaurants, we are contingently liable for payment of approximately 89 domestic leases. These leases have varying terms, the latest of which expires in 2036. As of June 28, 2020, the estimated maximum amount of undiscounted payments the Company could be required to make in the event of nonpayment by the primary lessees was $15.9 million. This contingent liability is not included in the Condensed Consolidated Balance Sheet as it is not probable to occur. The fair value of the guarantee is not material. ​ Supplemental Cash Flow & Other Information ​ Supplemental cash flow information related to leases for the periods reported is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended (in thousands) ​ June 28, 2020 ​ ​ June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ Operating cash flows from finance leases $ 295 ​ $ — Financing cash flows from finance leases ​ 939 ​ ​ — Operating cash flows from operating leases (a) ​ 18,744 ​ ​ 20,307 Right-of-use assets obtained in exchange for new finance lease liabilities ​ 19 ​ ​ — Right-of-use assets obtained in exchange for new operating lease liabilities ​ 13,370 ​ ​ 6,180 Cash received from sublease income ​ 5,014 ​ ​ 4,662 ​ ​ ​ ​ ​ ​ (a) Included within the change in Other assets and liabilities within the Condensed Consolidated Statements of Cash Flows offset by non-cash operating lease asset amortization and liability accretion. ​

Papa John's Marketing Fund, Inc

Papa John's Marketing Fund, Inc.	6 Months Ended
	Jun. 28, 2020
Papa John's Marketing Fund, Inc.
Papa John's Marketing Fund, Inc.	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4. Papa John’s Marketing Fund, Inc. ​ PJMF collects a percentage of revenues from Company-owned and franchised restaurants in the United States, for the purpose of designing and administering advertising and promotional programs for all participating domestic restaurants. Contributions and expenditures are reported on a gross basis in the Condensed Consolidated Statements of Operations within Other revenues and Other expenses. ​ Assets and liabilities of PJMF, which are restricted in their use, included in the Condensed Consolidated Balance Sheets were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 28, ​ December 29, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,465 ​ $ 4,569 ​ ​ Accounts receivable, net ​ ​ 11,824 ​ ​ 11,196 ​ ​ Income tax receivable ​ ​ 112 ​ ​ 103 ​ ​ Prepaid expenses ​ ​ 434 ​ ​ 1,316 ​ ​ Total current assets ​ ​ 15,835 ​ ​ 17,184 ​ ​ Deferred income taxes, net ​ ​ 458 ​ ​ 410 ​ ​ Total assets ​ $ 16,293 ​ $ 17,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 4,045 ​ $ 764 ​ ​ Accrued expenses and other current liabilities ​ ​ 10,884 ​ ​ 14,287 ​ ​ Current deferred revenue ​ ​ 3,070 ​ ​ 3,252 ​ ​ Debt ​ ​ 107 ​ ​ - ​ ​ Total current liabilities ​ ​ 18,106 ​ ​ 18,303 ​ ​ Deferred revenue ​ ​ 1,591 ​ ​ 2,094 ​ ​ Total liabilities ​ $ 19,697 ​ $ 20,397 ​ ​ ​

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 28, 2020
Revenue Recognition
Revenue Recognition	5. Revenue Recognition ​ Contract Balances ​ Our contract liabilities primarily relate to franchise fees and unredeemed gift card liabilities, which we classify as Deferred revenue, and customer loyalty program obligations which are classified as Accrued expenses and other current liabilities. During the three and six months ended June 28, 2020, the Company recognized $8.4 million and $16.3 million in revenue, respectively, related to deferred revenue and the customer loyalty program, compared to $8.4 million and $15.8 million for the three and six months ended June 30, 2019, respectively. ​ The contract liability balances are included in the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract Liabilities ​ ​ ​ June 28, 2020 ​ ​ December 29, 2019 ​ ​ Change Deferred revenue ​ $ 18,925 ​ $ 20,346 ​ $ (1,421) Customer loyalty program ​ ​ 12,269 ​ ​ 12,049 ​ ​ 220 Total contract liabilities ​ $ 31,194 ​ $ 32,395 ​ $ (1,201) ​ Our contract assets consist primarily of equipment incentives provided to franchisees. Equipment incentives are related to the future value of commissary revenue the Company will receive over the term of the agreement. As of June 28, 2020, and December 29, 2019, the contract assets were approximately $4.9 million and $6.0 million, respectively. For the three and six months ended June 28, 2020, revenue was reduced approximately $0.7 million and $1.6 million, respectively, for the amortization of contract assets over the applicable contract terms. Contract assets are included in Prepaid expenses and other current assets and Other assets on the Condensed Consolidated Balance Sheets. ​ Transaction Price Allocated to the Remaining Performance Obligations ​ The following table (in thousands) includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied at the end of the reporting period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Obligations by Period ​ ​ Less than 1 Year ​ 1-2 Years ​ 2-3 Years ​ 3-4 Years ​ 4-5 Years ​ Thereafter ​ Total Franchise fees ​ $ 2,312 ​ $ 2,110 ​ $ 1,883 ​ $ 1,612 ​ $ 1,382 ​ $ 3,153 ​ $ 12,452 ​ Approximately $1.8 million of area development fees related to unopened stores and international unearned royalties are included in Deferred revenue. Timing of revenue recognition is dependent upon the timing of store openings and franchisees’ revenues. Gift card liabilities of approximately $4.7 million, included in Deferred revenue, will be recognized in Company-owned restaurant revenues when gift cards are redeemed. The Company will recognize redemption fee revenue in Other revenues when cards are redeemed at franchised restaurant locations. ​ The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

Common Stock and Series B Conve

Common Stock and Series B Convertible Preferred Stock	6 Months Ended
	Jun. 28, 2020
Common Stock and Series B Convertible Preferred Stock
Common Stock and Series B Convertible Preferred Stock	6. Common Stock and Series B Convertible Preferred Stock ​ Shares Authorized and Outstanding ​ The Company has authorized 5.0 million shares of preferred stock, 100.0 million shares of common stock, and 260,000 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”). The Company’s outstanding shares of common stock were 32.3 million shares at June 28, 2020 and 31.9 million shares at December 29, 2019. ​ There were 252,530 shares of Series B Preferred Stock outstanding at both June 28, 2020 and December 29, 2019. The Series B Preferred Stock is classified as temporary equity on the Condensed Consolidated Balance Sheets as of June 28, 2020 and December 29, 2019. ​ Dividends ​ The Company recorded dividends of approximately $21.3 million in the six months ended June 28, 2020 consisting of the following: ​ ● $14.5 million paid to common stockholders ($0.45 per share); ● $2.3 million in common stock “pass-through” dividends paid to Series B Preferred Stockholders on an as-converted basis ($0.45 per share); and ● $4.5 million in preferred dividends on the Series B Preferred Stock (3.6% of the investment per annum). ​ On July 31, 2020, our Board of Directors declared a third quarter dividend of $0.225 per common share (of which approximately $7.4 million will be paid to common stockholders and $1.1 million will be paid as “pass through” dividends to holders of Series B Preferred Stock on an “as converted basis”). The third quarter preferred dividend was also declared on July 31, 2020. The common share dividend will be paid on August 21, 2020 to stockholders of record as of the close of business on August 11, 2020 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 28, 2020
Earnings Per Share
Earnings Per Share	7. Earnings Per Share ​ We compute earnings per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings per share for common stockholders and participating security holders according to dividends declared and participating rights in undistributed earnings. The Series B Preferred Stock and time-based restricted stock awards are participating securities because holders of such shares have non-forfeitable dividend rights and participate in undistributed earnings with common stock. Under the two-class method, total dividends provided to the holders of Series B Preferred Stock, including common stock dividends and undistributed earnings allocated to participating securities, are subtracted from net income attributable to the Company in determining net income attributable to common stockholders. Additionally, any accretion to redemption value for the Series B Preferred Stock is treated as a deemed dividend in the two-class EPS calculation. ​ The calculations of basic and diluted earnings per common share are as follows (in thousands, except per-share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, ​ ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to the Company ​ $ 20,614 ​ $ 8,354 ​ $ 29,057 ​ $ 6,623 Preferred stock dividends and accretion ​ ​ (3,347) ​ ​ (3,486) ​ ​ (6,818) ​ ​ (5,556) Net income attributable to participating securities ​ (1,560) ​ — ​ (1,306) ​ — Net income attributable to common shareholders ​ $ 15,707 ​ $ 4,868 ​ $ 20,933 ​ $ 1,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares outstanding ​ 32,335 ​ 31,587 ​ 32,214 ​ 31,570 Basic earnings per common share ​ $ 0.49 ​ $ 0.15 ​ $ 0.65 ​ $ 0.03 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ $ 15,707 ​ $ 4,868 ​ $ 20,933 ​ $ 1,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 32,335 ​ 31,587 ​ 32,214 ​ 31,570 Dilutive effect of outstanding equity awards (a) ​ 284 ​ 186 ​ 230 ​ 176 Diluted weighted average common shares outstanding (b) ​ 32,619 ​ 31,773 ​ 32,444 ​ 31,746 Diluted earnings per common share ​ $ 0.48 ​ $ 0.15 ​ $ 0.65 ​ $ 0.03 (a) Excludes 145 and 170 equity awards for the three and six months ended June 28, 2020, respectively, and 1,561 and 1,469 equity awards for the three and six months ended June 30, 2019, respectively, as the effect of including such awards would have been anti-dilutive. (b) The Company had 252.5 shares of Series B Preferred Stock outstanding as of June 28, 2020 and December 29, 2019. For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income attributable to common stockholders. The Company then applied the if-converted method to calculate dilution on the Series B Preferred Stock, which resulted in 5.0 million additional common shares. This calculation was anti-dilutive for both periods presented and as such was excluded.

Debt

Debt	6 Months Ended
	Jun. 28, 2020
Debt
Debt	8. Debt ​ Long-term debt, net, consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 28, ​ ​ December 29, ​ ​ ​ ​ 2020 ​ ​ 2019 Outstanding debt ​ ​ $ 350,107 ​ $ 370,000 Unamortized debt issuance costs ​ ​ ​ (2,068) ​ ​ (2,710) Current portion of long-term debt ​ ​ ​ (20,107) ​ ​ (20,000) Total long-term debt, net ​ ​ $ 327,932 ​ $ 347,290 ​ The Company has a secured revolving credit facility with available borrowings of $400.0 million (the “Revolving Facility”), of which no balance was outstanding as of June 28, 2020, and a secured term loan facility with an outstanding balance of $350.0 million (the “Term Loan Facility”) and together with the Revolving Facility, the “PJI Facilities”. The PJI Facilities mature on August 30, 2022. The loans under the PJI Facilities accrue interest at a per annum rate equal to, at the Company’s election, either LIBOR plus a margin ranging from 125 to 250 basis points or a base rate (generally determined by a prime rate, federal funds rate or LIBOR plus 1.00%) plus a margin ranging from 25 to 150 basis points. In each case, the actual margin is determined according to a ratio of the Company’s total indebtedness to earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the then most recently ended four-quarter period (the “Leverage Ratio”). The Credit Agreement governing the PJI Facilities (the “PJI Credit Agreement”) places certain customary restrictions upon the Company based on its financial covenants. These include limiting the repurchase of common stock and not increasing the cash dividend above the lesser of $0.225 per share per quarter or $35 million per fiscal year if the Company’s leverage ratio is above 3.75 to 1.0. Quarterly amortization payments are required to be made on the Term Loan Facility in the amount of $5.0 million. Loans outstanding under the PJI Facilities may be prepaid at any time without premium or penalty, subject to customary breakage costs in the case of borrowings for which a LIBOR rate election is in effect. Up to $35.0 million of the Revolving Facility may be advanced in certain agreed foreign currencies, including Euros, Pounds Sterling, Canadian Dollars, Japanese Yen, and Mexican Pesos. ​ The PJI Credit Agreement contains customary affirmative and negative covenants, including financial covenants requiring the maintenance of the Leverage Ratio and a specified fixed charge coverage ratio. The PJI Credit Agreement allows for a permitted Leverage Ratio of 5.00 to 1.0, decreasing over time to 4.00 to 1.0 by 2022; and a fixed charge coverage ratio of 2.25 to 1.0, which increases over time to 2.50 to 1.0 in 2021 and thereafter. We were in compliance with these financial covenants at June 28, 2020. ​ Under the PJI Credit Agreement, we have the option to increase the Revolving Facility or the Term Loan Facility in an aggregate amount of up to $300.0 million, subject to the Leverage Ratio of the Company not exceeding 4.00 to 1.00. The Company and certain direct and indirect domestic subsidiaries are required to grant a security interest in substantially all of the capital stock and equity interests of their respective domestic and first tier material foreign subsidiaries to secure the obligations owed under the PJI Facilities. ​ Our outstanding debt of $350.0 million at June 28, 2020 under the PJI Facilities was composed of $350.0 million outstanding under the Term Loan Facility. Including outstanding letters of credit, the Company’s remaining availability under the PJI Facilities at June 28, 2020 was approximately $353.8 million. ​ As of June 28, 2020, the Company had approximately $2.1 million in unamortized debt issuance costs, which are being amortized into interest expense over the term of the PJI Facilities. ​ We attempt to minimize interest rate risk exposure by fixing our rate through the utilization of interest rate swaps, which are derivative financial instruments. Our swaps are entered into with financial institutions that participate in the PJI Credit Agreement. By using a derivative instrument to hedge exposures to changes in interest rates, we expose ourselves to credit risk due to the possible failure of the counterparty to perform under the terms of the derivative contract. We use interest rate swaps to hedge against the effects of potential interest rate increases on borrowings under our PJI Facilities. ​ As of June 28, 2020, we have the following interest rate swap agreements with a total notional value of $350 million: ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective Dates Floating Rate Debt Fixed Rates April 30, 2018 through April 30, 2023 ​ $ 55 million ​ 2.33 % April 30, 2018 through April 30, 2023 ​ $ 35 million ​ 2.36 % April 30, 2018 through April 30, 2023 ​ $ 35 million ​ 2.34 % January 30, 2018 through August 30, 2022 ​ $ 100 million ​ 1.99 % January 30, 2018 through August 30, 2022 ​ $ 75 million ​ 1.99 % January 30, 2018 through August 30, 2022 ​ $ 50 million ​ 2.00 % ​ The gain or loss on the swaps is recognized in Accumulated other comprehensive loss (“AOCL”) and reclassified into earnings as adjustments to interest expense in the same period or periods during which the swaps affect earnings. Gains or losses on the swaps representing hedge components excluded from the assessment of effectiveness are recognized in current earnings. ​ The following table provides information on the location and amounts of our swaps in the accompanying condensed consolidated financial statements (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivatives ​ ​ Fair Value ​ Fair Value ​ ​ June 28, ​ December 29, Balance Sheet Location ​ 2020 ​ 2019 Other current and long-term liabilities ​ $ 17,050 ​ $ 6,168 ​ The effect of derivative instruments on the accompanying condensed consolidated financial statements is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location of Gain ​ Amount of Gain ​ ​ Derivatives - ​ Amount of Gain or ​ or (Loss) ​ or (Loss) ​ Total Net Interest Expense Cash Flow ​ (Loss) Recognized ​ Reclassified from ​ Reclassified from ​ on Condensed Hedging ​ in AOCL ​ AOCL into ​ AOCL into ​ Consolidated Statements Relationships ​ on Derivative ​ Income ​ Income ​ of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps for the three months ended: June 28, 2020 ​ $ (79) ​ Interest expense ​ $ (1,372) ​ $ (3,627) June 30, 2019 ​ $ (5,167) ​ Interest expense ​ $ 231 ​ $ (4,272) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps for the six months ended: June 28, 2020 ​ $ (8,487) ​ ​ Interest expense ​ $ (1,702) ​ $ (7,594) June 30, 2019 ​ $ (8,204) ​ Interest expense ​ $ 688 ​ $ (10,548) ​ The weighted average interest rates on our PJI Facilities, including the impact of the interest rate swap agreements, were 3.8% for the three- and six-month periods ended June 28, 2020, compared to 4.3% and 4.4 % for the three- and six-month periods ended June 30, 2019, respectively. Interest paid, including payments made or received under the swaps, was $4.0 million and $4.4 million for the three months ended June 28, 2020 and June 30, 2019, respectively, and $8.1 million and $11.1 million for the six months ended June 28, 2020 and June 30, 2019, respectively. As of June 28, 2020, the portion of the aggregate $17.1 million interest rate swap liability that would be reclassified into net interest expense during the next twelve months approximates $7.2 million. ​ PJMF has a $20.0 million revolving line of credit (the “PJMF Revolving Facility”) pursuant to a Revolving Loan Agreement, dated September 30, 2015 (as amended, the “PJMF Loan Agreement”) with U.S. Bank National Association, as lender (“U.S. Bank”). The PJMF Revolving Facility is secured by substantially all assets of PJMF. The PJMF Revolving Facility matures on September 30, 2020. The borrowings under the PJMF Revolving Facility accrue interest at a variable rate of the one-month LIBOR plus 1.75%. The applicable interest rates on the PJMF Revolving Facility were 2.3% and 2.8% for the three and six months ended June 28, 2020, respectively, compared to 4.2% for both the three and six months ended June 30, 2019. As of June 28, 2020, there was approximately $100,000 of debt outstanding under the PJMF Revolving Facility (none

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2020
Commitments and Contingencies
Commitments and Contingencies	9. Commitments and Contingencies ​ Litigation ​ The Company is involved in a number of lawsuits, claims, investigations and proceedings, including those specifically identified below, consisting of intellectual property, employment, consumer, commercial and other matters arising in the ordinary course of business. In accordance with ASC 450, “ Contingencies ​ Durling et al v. Papa John’s International, Inc. , ​ Danker v. Papa John’s International, Inc. et al. On August 30, 2018, a class action lawsuit was filed in the United States District Court, Southern District of New York on behalf of a class of investors who purchased or acquired stock in Papa John's through a period up to and including July 19, 2018. The complaint alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended. The District Court appointed the Oklahoma Law Enforcement Retirement System to lead the case. An amended complaint was filed on February 13, 2019, which the Company moved to dismiss. On March 16, 2020, the Court granted the Company’s motion to dismiss, on the ground that the complaint failed to state any viable cause of action. The Plaintiffs subsequently filed a second amended complaint on April 30, 2020, which the Company moved to dismiss. The Company believes that it has valid and meritorious defenses to the second amended complaint and intends to vigorously defend against the case. The Company has t recorded any liability related to this lawsuit as of June 28, 2020 as it does not believe a loss is probable or reasonably estimable. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Segment Information

Segment Information	6 Months Ended
	Jun. 28, 2020
Segment Information
Segment Information	10. Segment Information ​ We have four reportable segments: domestic Company-owned restaurants, North America commissaries, North America franchising and international operations. The domestic Company-owned restaurant segment consists of the operations of all domestic (“domestic” is defined as contiguous United States) Company-owned restaurants and derives its revenues principally from retail sales of pizza and side items, including breadsticks, cheesesticks, chicken poppers and wings, dessert items and canned or bottled beverages. The North America commissary segment consists of the operations of our regional dough production and product distribution centers and derives its revenues principally from the sale and distribution of food and paper products to domestic Company-owned and franchised restaurants in the United States and Canada. The North America franchising segment consists of our franchise sales and support activities and derives its revenues from sales of franchise and development rights and collection of royalties from our franchisees located in the United States and Canada. The international segment principally consists of distribution sales to franchised Papa John’s restaurants located in the United Kingdom and our franchise sales and support activities, which derive revenues from sales of franchise and development rights and the collection of royalties from our international franchisees. International franchisees are defined as all franchise operations outside of the United States and Canada. All other business units that do not meet the quantitative thresholds for determining reportable segments, which are not operating segments, we refer to as “all other,” which consists of operations that derive revenues from the sale, principally to Company-owned and franchised restaurants, of printing and promotional items, franchise contributions to marketing funds and information systems and related services used in restaurant operations, including our point-of-sale system, online and other technology-based ordering platforms. ​ Generally, we evaluate performance and allocate resources based on income before income taxes and intercompany eliminations. Certain administrative and capital costs are allocated to segments based upon predetermined rates or actual estimated resource usage. We account for intercompany sales and transfers as if the sales or transfers were to third parties and eliminate the activity in consolidation. ​ Our reportable segments are business units that provide different products or services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies. No single external customer accounted for 10% or more of our consolidated revenues. ​ ​ Our segment information is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, (In thousands) ​ 2020 2019 2020 2019 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 186,506 ​ $ 163,656 ​ $ 347,946 ​ $ 325,459 North America commissaries ​ ​ 167,619 ​ 147,128 ​ 323,041 ​ 296,032 North America franchising ​ ​ 24,174 ​ 19,761 ​ 43,614 ​ 37,291 International ​ ​ 34,366 ​ 31,420 ​ 66,518 ​ 62,920 All others ​ ​ 47,958 ​ 37,658 ​ 89,363 ​ 76,326 Total revenues ​ ​ $ 460,623 ​ $ 399,623 ​ $ 870,482 ​ $ 798,028 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America commissaries ​ ​ $ 47,357 ​ $ 46,962 ​ $ 91,863 ​ $ 92,517 North America franchising ​ ​ 793 ​ 787 ​ 1,467 ​ 1,460 International ​ ​ — ​ 94 ​ — ​ 191 All others ​ ​ 18,386 ​ 17,985 ​ 39,341 ​ 33,396 Total intersegment revenues ​ ​ $ 66,536 ​ $ 65,828 ​ $ 132,671 ​ $ 127,564 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 16,746 ​ $ 7,712 ​ $ 25,413 ​ $ 12,309 North America commissaries ​ ​ 8,567 ​ 7,792 ​ 16,076 ​ 15,304 North America franchising ​ ​ 22,176 ​ 17,910 ​ 39,502 ​ 33,601 International ​ ​ 4,589 ​ 5,403 ​ 9,088 ​ 10,720 All others ​ ​ 1,983 ​ (1,209) ​ 1,724 ​ (1,715) Unallocated corporate expenses ​ ​ (26,430) ​ (27,891) ​ (52,481) ​ (60,356) Elimination of intersegment (profits) losses ​ ​ (724) ​ 242 ​ (910) ​ (671) Total income before income taxes ​ ​ $ 26,907 ​ $ 9,959 ​ $ 38,412 ​ $ 9,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 226,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ North America commissaries ​ ​ ​ 143,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ ​ ​ 15,493 ​ ​ ​ ​ ​ ​ ​ ​ ​ All others ​ ​ ​ 88,602 ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated corporate assets ​ ​ ​ 213,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation and amortization ​ ​ ​ (486,909) ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ ​ $ 200,581 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Disaggregation of Revenue ​ In the following tables, revenues are disaggregated by major product/service line. The tables also include a reconciliation of the disaggregated revenues by the reportable segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Three Months Ended June 28, 2020 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 186,506 $ - $ - $ - $ - $ 186,506 Commissary sales ​ - ​ 214,976 ​ - ​ 20,350 ​ - ​ 235,326 Franchise royalties and fees ​ - ​ - ​ 24,967 ​ 7,743 ​ - ​ 32,710 Other revenues ​ - ​ - ​ - ​ 6,273 ​ 66,344 ​ 72,617 Eliminations ​ - ​ (47,357) ​ (793) ​ - ​ (18,386) ​ (66,536) Total segment revenues $ 186,506 $ 167,619 $ 24,174 $ 34,366 $ 47,958 $ 460,623 International other revenues (1) ​ - ​ - ​ - ​ (6,273) ​ 6,273 ​ - Total revenues $ 186,506 $ 167,619 $ 24,174 $ 28,093 $ 54,231 $ 460,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Three Months Ended June 30, 2019 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 163,656 $ - $ - $ - $ - $ 163,656 Commissary sales ​ - ​ 194,090 ​ - ​ 15,948 ​ - ​ 210,038 Franchise royalties and fees ​ - ​ - ​ 20,548 ​ 9,549 ​ - ​ 30,097 Other revenues ​ - ​ - ​ - ​ 6,017 ​ 55,643 ​ 61,660 Eliminations ​ - ​ (46,962) ​ (787) ​ (94) ​ (17,985) ​ (65,828) Total segment revenues $ 163,656 $ 147,128 $ 19,761 $ 31,420 $ 37,658 $ 399,623 International other revenues (1) ​ - ​ - ​ - ​ (6,017) ​ 6,017 ​ - International eliminations (1) ​ - ​ - ​ - ​ 94 ​ (94) ​ - Total revenues $ 163,656 $ 147,128 $ 19,761 $ 25,497 $ 43,581 $ 399,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Six Months Ended June 28, 2020 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 347,946 $ - $ - $ - $ - $ 347,946 Commissary sales ​ - ​ 414,904 ​ - ​ 36,893 ​ - ​ 451,797 Franchise royalties and fees ​ - ​ - ​ 45,081 ​ 17,259 ​ - ​ 62,340 Other revenues ​ - ​ - ​ - ​ 12,366 ​ 128,704 ​ 141,070 Eliminations ​ - ​ (91,863) ​ (1,467) ​ - ​ (39,341) ​ (132,671) Total segment revenues $ 347,946 $ 323,041 $ 43,614 $ 66,518 $ 89,363 $ 870,482 International other revenues (1) ​ - ​ - ​ - ​ (12,366) ​ 12,366 ​ - International eliminations (1) ​ - ​ - ​ - ​ - ​ - ​ - Total revenues $ 347,946 $ 323,041 $ 43,614 $ 54,152 $ 101,729 $ 870,482 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Six Months Ended June 30, 2019 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 325,459 $ - $ - $ - $ - $ 325,459 Commissary sales ​ - ​ 388,549 ​ - ​ 31,814 ​ - ​ 420,363 Franchise royalties and fees ​ - ​ - ​ 38,751 ​ 19,350 ​ - ​ 58,101 Other revenues ​ - ​ - ​ - ​ 11,947 ​ 109,722 ​ 121,669 Eliminations ​ - ​ (92,517) ​ (1,460) ​ (191) ​ (33,396) ​ (127,564) Total segment revenues $ 325,459 $ 296,032 $ 37,291 $ 62,920 $ 76,326 $ 798,028 International other revenues (1) ​ - ​ - ​ - ​ (11,947) ​ 11,947 ​ - International eliminations (1) ​ - ​ - ​ - ​ 191 ​ (191) ​ - Total revenues $ 325,459 $ 296,032 $ 37,291 $ 51,164 $ 88,082 $ 798,028 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Other revenues as reported in the Condensed Consolidated Statements of Operations include $6.3 million and $12.4 million of revenue for the three and six months ended June 28, 2020, respectively, and $5.9 million and $11.8 million for the three and six months ended June 30, 2019, respectively, that are part of the international reporting segment. These amounts include marketing fund contributions and sublease rental income from international franchisees in the United Kingdom that provide no significant contribution to income before income taxes but must be reported on a gross basis under accounting requirements. The related expenses for these Other revenues are reported in Other expenses in the Condensed Consolidated Statements of Operations.

Update to Significant Account_2

Update to Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2020
Update to Significant Accounting Policies
Use of Estimates	Use of Estimates ​ The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Significant items that are subject to such estimates and assumptions include allowance for doubtful accounts and notes receivable, intangible assets, contract assets and contract liabilities, including the online customer loyalty program obligation, right-of-use assets and lease liabilities, gift card breakage, insurance reserves and tax reserves. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates.
Variable Interest Entity	Variable Interest Entity ​ Papa John’s domestic restaurants, both Company-owned and franchised, participate in Papa John’s Marketing Fund, Inc. (“PJMF”), a nonstock corporation designed to operate at break-even as it spends all annual contributions received from the system. PJMF collects a percentage of revenues from Company-owned and franchised restaurants in the United States for the purpose of designing and administering advertising and promotional programs. PJMF is a variable interest entity (“VIE”) that funds its operations with ongoing financial support and contributions from the domestic restaurants, of which approximately 80% are franchised, and does not have sufficient equity to fund its operations without these ongoing financial contributions. Based on an assessment of the governance structure and operating procedures of PJMF, the Company determined it has the power to control certain significant activities of PJMF, and therefore, is the primary beneficiary. The Company has consolidated PJMF in its financial results in accordance with Accounting Standards Codification (“ASC”) 810, “Consolidations.”
Noncontrolling Interests	Noncontrolling Interests ​ Papa John’s has four joint venture arrangements in which there are noncontrolling interests held by third parties that include 192 restaurants at both June 28, 2020 and June 30, 2019. ​ Consolidated net income is required to be reported separately at amounts attributable to both the Company and the noncontrolling interests. Additionally, disclosures are required to clearly identify and distinguish between the interests of the Company and the interests of the noncontrolling owners, including a disclosure on the face of the Condensed Consolidated Statements of Operations of income attributable to the noncontrolling interest holders. ​ Net income attributable to these joint ventures for the three and six months ended June 28, 2020 and June 30, 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, ​ ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Papa John’s International, Inc. ​ $ 2,320 ​ $ 708 ​ $ 3,451 ​ $ 1,172 ​ Noncontrolling interests ​ 1,337 ​ 322 ​ 1,887 ​ 455 ​ Total net income ​ $ 3,657 ​ $ 1,030 ​ $ 5,338 ​ $ 1,627 ​ ​ The following summarizes the redemption feature, location and related accounting within the Condensed Consolidated Balance Sheets for these joint venture arrangements: ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of Joint Venture Arrangement Location within the Balance Sheets Recorded Value ​ ​ ​ ​ ​ Joint ventures with no redemption feature Permanent equity Carrying value Joint ventures with option to require the Company to purchase the noncontrolling interest - not currently redeemable or redemption not probable Temporary equity Carrying value ​
Deferred Income Tax Accounts and Tax Reserves	Deferred Income Tax Accounts and Tax Reserves ​ We are subject to income taxes in the United States and several foreign jurisdictions. Significant judgment is required in determining Papa John’s provision for income taxes and the related assets and liabilities. The provision for income taxes includes income taxes paid, currently payable or receivable and those deferred. We use an estimated annual effective rate based on expected annual income to determine our quarterly provision for income taxes. The effective income tax rate includes the estimated domestic state effective income tax rate and applicable foreign income tax rates. The effective income tax rate is also impacted by various permanent items and credits, net of any related valuation allowances, and can vary based on changes in estimated annual income. Discrete items are recorded in the quarter in which they occur. ​ Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences reverse. Deferred tax assets are also recognized for the estimated future effects of tax attribute carryforwards (e.g., net operating losses, capital losses, and foreign tax credits). The effect on deferred taxes of changes in tax rates is recognized in the period in which the new tax rate is enacted. Valuation allowances are established when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts we expect to realize. ​ Tax authorities periodically audit the Company. We record reserves and related interest and penalties for identified exposures as income tax expense. We evaluate these issues on a quarterly basis to adjust for events, such as statute of limitations expirations, court or state rulings or audit settlements, which may impact our ultimate payment for such exposures.
Fair Value Measurements and Disclosures	Fair Value Measurements and Disclosures ​ The Company is required to determine the fair value of financial assets and liabilities based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. Fair value is a market-based measurement, not an entity-specific measurement. The fair value of certain assets and liabilities approximates carrying value because of the short-term nature of the accounts, including cash and cash equivalents, accounts receivable, net of allowances, and accounts payable. The carrying value of notes receivable, net of allowances, also approximates fair value. The fair value of the amount outstanding under our term debt approximates the carrying value due to the variable market-based interest rate (Level 2). ​ Certain assets and liabilities are measured at fair value on a recurring basis and are required to be classified and disclosed in one of the following categories: ​ ● Level 1: Quoted market prices in active markets for identical assets or liabilities. ● Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. ● Level 3: Unobservable inputs that are not corroborated by market data. ​ Our financial assets and liabilities that were measured at fair value on a recurring basis as of June 28, 2020 and December 29, 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements ​ Value Level 1 Level 2 Level 3 June 28, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 32,155 ​ $ 32,155 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 17,050 ​ — ​ 17,050 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 29, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 33,220 ​ $ 33,220 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 6,168 ​ — ​ 6,168 ​ — ​ (a) Represents life insurance policies held in our non-qualified deferred compensation plan. (b) The fair value of our interest rate swaps is based on the sum of all future net present value cash flows. The future cash flows are derived based on the terms of our interest rate swaps, as well as considering published discount factors, and projected London Interbank Offered Rates (“LIBOR”).
Accounting Standards Adopted and to be Adopted in Future Periods	Accounting Standards Adopted ​ Financial Instruments – Credit Losses ​ In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected versus incurred losses for financial assets held. The Company adopted ASU 2016-13 as of December 30, 2019 (the first day of fiscal 2020) under the modified retrospective transition method. Financial instruments subject to ASU 2016-13 include trade accounts receivable, notes receivable and interest receivable (classified as Other assets in the Condensed Consolidated Balance Sheet) from franchisees. The impact of the adoption was not material to our condensed consolidated financial statements. Upon adoption, the Company recorded a cumulative effect adjustment to retained earnings of $1.1 million, net of $0.3 million of income taxes, on the opening Condensed Consolidated Balance Sheet as of December 30, 2019. ​ Estimates of expected credit losses, even if remote, are based upon historical account write-off trends, facts about the current financial condition of the debtor, forecasts of future operating results based upon current trends of select operating metrics, and macroeconomic factors. Credit quality is monitored through the timing of payments compared to the prescribed payment terms and known facts regarding the financial condition of the franchisee or customer. Account and note balances are charged off against the allowance after recovery efforts have ceased. ​ The following table summarizes changes in our allowances for credit losses for accounts receivable, notes receivable and interest receivable: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Accounts Receivable ​ Notes Receivable ​ Interest Receivable Balance at December 29, 2019 $ 7,341 ​ $ 3,572 ​ $ 910 Cumulative effect of adoption of ASU 2016-13 ​ 912 ​ ​ 463 ​ ​ - Balance at December 30, 2019 ​ 8,253 ​ ​ 4,035 ​ ​ 910 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period provision for expected credit losses ​ 833 ​ ​ 74 ​ ​ 144 Write-offs charged against the allowance ​ (431) ​ ​ (10) ​ ​ - Recoveries collected ​ - ​ ​ (56) ​ ​ - Transfers ​ - ​ ​ 1,054 ​ ​ (1,054) Balance at June 28, 2020 $ 8,655 ​ $ 5,097 ​ $ - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounting Standards to be Adopted in Future Periods ​ Reference Rate Reform – Hedging ​ In March 2020, the FASB issued ASU 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU is intended to provide temporary optional expedients and exceptions to the US GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. This guidance was effective beginning on March 12, 2020, and the Company may elect to apply the amendments prospectively through December 31, 2022. The Company is currently evaluating the impact this guidance may have on its condensed consolidated financial statements and related disclosures.

Update to Significant Account_3

Update to Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 28, 2020
Update to Significant Accounting Policies
Schedule of net income attributable to Joint Ventures	Net income attributable to these joint ventures for the three and six months ended June 28, 2020 and June 30, 2019 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, ​ ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Papa John’s International, Inc. ​ $ 2,320 ​ $ 708 ​ $ 3,451 ​ $ 1,172 ​ Noncontrolling interests ​ 1,337 ​ 322 ​ 1,887 ​ 455 ​ Total net income ​ $ 3,657 ​ $ 1,030 ​ $ 5,338 ​ $ 1,627 ​
Schedule of Joint Ventures in Which There are Noncontrolling Interests	The following summarizes the redemption feature, location and related accounting within the Condensed Consolidated Balance Sheets for these joint venture arrangements: ​ ​ ​ ​ ​ ​ ​ ​ ​ Type of Joint Venture Arrangement Location within the Balance Sheets Recorded Value ​ ​ ​ ​ ​ Joint ventures with no redemption feature Permanent equity Carrying value Joint ventures with option to require the Company to purchase the noncontrolling interest - not currently redeemable or redemption not probable Temporary equity Carrying value
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	Our financial assets and liabilities that were measured at fair value on a recurring basis as of June 28, 2020 and December 29, 2019 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements ​ Value Level 1 Level 2 Level 3 June 28, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 32,155 ​ $ 32,155 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 17,050 ​ — ​ 17,050 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 29, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash surrender value of life insurance policies (a) ​ $ 33,220 ​ $ 33,220 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps (b) ​ 6,168 ​ — ​ 6,168 ​ — ​ (a) Represents life insurance policies held in our non-qualified deferred compensation plan. (b) The fair value of our interest rate swaps is based on the sum of all future net present value cash flows. The future cash flows are derived based on the terms of our interest rate swaps, as well as considering published discount factors, and projected London Interbank Offered Rates (“LIBOR”).
Schedule rollforward of the allowance for credit losses for accounts receivable, notes receivable and other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (in thousands) Accounts Receivable ​ Notes Receivable ​ Interest Receivable Balance at December 29, 2019 $ 7,341 ​ $ 3,572 ​ $ 910 Cumulative effect of adoption of ASU 2016-13 ​ 912 ​ ​ 463 ​ ​ - Balance at December 30, 2019 ​ 8,253 ​ ​ 4,035 ​ ​ 910 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current period provision for expected credit losses ​ 833 ​ ​ 74 ​ ​ 144 Write-offs charged against the allowance ​ (431) ​ ​ (10) ​ ​ - Recoveries collected ​ - ​ ​ (56) ​ ​ - Transfers ​ - ​ ​ 1,054 ​ ​ (1,054) Balance at June 28, 2020 $ 8,655 ​ $ 5,097 ​ $ - ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 28, 2020
Leases
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases for the periods reported is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended (in thousands) ​ June 28, 2020 ​ ​ June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ Operating cash flows from finance leases $ 295 ​ $ — Financing cash flows from finance leases ​ 939 ​ ​ — Operating cash flows from operating leases (a) ​ 18,744 ​ ​ 20,307 Right-of-use assets obtained in exchange for new finance lease liabilities ​ 19 ​ ​ — Right-of-use assets obtained in exchange for new operating lease liabilities ​ 13,370 ​ ​ 6,180 Cash received from sublease income ​ 5,014 ​ ​ 4,662 ​ ​ ​ ​ ​ ​ (a) Included within the change in Other assets and liabilities within the Condensed Consolidated Statements of Cash Flows offset by non-cash operating lease asset amortization and liability accretion.

Papa John's Marketing Fund, I_2

Papa John's Marketing Fund, Inc. (Tables)	6 Months Ended
	Jun. 28, 2020
Papa John's Marketing Fund, Inc.
Schedule of Assets and Liabilities of PJMF	​ Assets and liabilities of PJMF, which are restricted in their use, included in the Condensed Consolidated Balance Sheets were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 28, ​ December 29, ​ ​ ​ ​ 2020 ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Assets ​ ​ ​ ​ ​ ​ ​ ​ Current assets: ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 3,465 ​ $ 4,569 ​ ​ Accounts receivable, net ​ ​ 11,824 ​ ​ 11,196 ​ ​ Income tax receivable ​ ​ 112 ​ ​ 103 ​ ​ Prepaid expenses ​ ​ 434 ​ ​ 1,316 ​ ​ Total current assets ​ ​ 15,835 ​ ​ 17,184 ​ ​ Deferred income taxes, net ​ ​ 458 ​ ​ 410 ​ ​ Total assets ​ $ 16,293 ​ $ 17,594 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable ​ $ 4,045 ​ $ 764 ​ ​ Accrued expenses and other current liabilities ​ ​ 10,884 ​ ​ 14,287 ​ ​ Current deferred revenue ​ ​ 3,070 ​ ​ 3,252 ​ ​ Debt ​ ​ 107 ​ ​ - ​ ​ Total current liabilities ​ ​ 18,106 ​ ​ 18,303 ​ ​ Deferred revenue ​ ​ 1,591 ​ ​ 2,094 ​ ​ Total liabilities ​ $ 19,697 ​ $ 20,397 ​ ​

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 28, 2020
Revenue Recognition
Schedule of information about contract liabilities	The contract liability balances are included in the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract Liabilities ​ ​ ​ June 28, 2020 ​ ​ December 29, 2019 ​ ​ Change Deferred revenue ​ $ 18,925 ​ $ 20,346 ​ $ (1,421) Customer loyalty program ​ ​ 12,269 ​ ​ 12,049 ​ ​ 220 Total contract liabilities ​ $ 31,194 ​ $ 32,395 ​ $ (1,201)
Schedule of estimated revenue expected to be recognized in the future	The following table (in thousands) includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied at the end of the reporting period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Performance Obligations by Period ​ ​ Less than 1 Year ​ 1-2 Years ​ 2-3 Years ​ 3-4 Years ​ 4-5 Years ​ Thereafter ​ Total Franchise fees ​ $ 2,312 ​ $ 2,110 ​ $ 1,883 ​ $ 1,612 ​ $ 1,382 ​ $ 3,153 ​ $ 12,452

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 28, 2020
Earnings Per Share
Schedule of Earnings Per Share, Basic and Diluted	The calculations of basic and diluted earnings per common share are as follows (in thousands, except per-share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, ​ ​ 2020 2019 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to the Company ​ $ 20,614 ​ $ 8,354 ​ $ 29,057 ​ $ 6,623 Preferred stock dividends and accretion ​ ​ (3,347) ​ ​ (3,486) ​ ​ (6,818) ​ ​ (5,556) Net income attributable to participating securities ​ (1,560) ​ — ​ (1,306) ​ — Net income attributable to common shareholders ​ $ 15,707 ​ $ 4,868 ​ $ 20,933 ​ $ 1,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average common shares outstanding ​ 32,335 ​ 31,587 ​ 32,214 ​ 31,570 Basic earnings per common share ​ $ 0.49 ​ $ 0.15 ​ $ 0.65 ​ $ 0.03 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income attributable to common shareholders ​ $ 15,707 ​ $ 4,868 ​ $ 20,933 ​ $ 1,067 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding ​ 32,335 ​ 31,587 ​ 32,214 ​ 31,570 Dilutive effect of outstanding equity awards (a) ​ 284 ​ 186 ​ 230 ​ 176 Diluted weighted average common shares outstanding (b) ​ 32,619 ​ 31,773 ​ 32,444 ​ 31,746 Diluted earnings per common share ​ $ 0.48 ​ $ 0.15 ​ $ 0.65 ​ $ 0.03 (a) Excludes 145 and 170 equity awards for the three and six months ended June 28, 2020, respectively, and 1,561 and 1,469 equity awards for the three and six months ended June 30, 2019, respectively, as the effect of including such awards would have been anti-dilutive. (b) The Company had 252.5 shares of Series B Preferred Stock outstanding as of June 28, 2020 and December 29, 2019. For the fully diluted calculation, the Series B Preferred stock dividends were added back to net income attributable to common stockholders. The Company then applied the if-converted method to calculate dilution on the Series B Preferred Stock, which resulted in 5.0 million additional common shares. This calculation was anti-dilutive for both periods presented and as such was excluded.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 28, 2020
Debt
Schedule of long-term debt, net	Long-term debt, net, consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 28, ​ ​ December 29, ​ ​ ​ ​ 2020 ​ ​ 2019 Outstanding debt ​ ​ $ 350,107 ​ $ 370,000 Unamortized debt issuance costs ​ ​ ​ (2,068) ​ ​ (2,710) Current portion of long-term debt ​ ​ ​ (20,107) ​ ​ (20,000) Total long-term debt, net ​ ​ $ 327,932 ​ $ 347,290 ​
Schedule of Interest Rate Swap Agreements	​ ​ ​ ​ ​ ​ ​ ​ ​ Effective Dates Floating Rate Debt Fixed Rates April 30, 2018 through April 30, 2023 ​ $ 55 million ​ 2.33 % April 30, 2018 through April 30, 2023 ​ $ 35 million ​ 2.36 % April 30, 2018 through April 30, 2023 ​ $ 35 million ​ 2.34 % January 30, 2018 through August 30, 2022 ​ $ 100 million ​ 1.99 % January 30, 2018 through August 30, 2022 ​ $ 75 million ​ 1.99 % January 30, 2018 through August 30, 2022 ​ $ 50 million ​ 2.00 %
Schedule of Location and Amounts of Swaps in the Accompanying Consolidated Financial Statements	The following table provides information on the location and amounts of our swaps in the accompanying condensed consolidated financial statements (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate Swap Derivatives ​ ​ Fair Value ​ Fair Value ​ ​ June 28, ​ December 29, Balance Sheet Location ​ 2020 ​ 2019 Other current and long-term liabilities ​ $ 17,050 ​ $ 6,168
Schedule of Effect of Derivative Instruments on the Accompanying Consolidated Financial Statements	The effect of derivative instruments on the accompanying condensed consolidated financial statements is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Location of Gain ​ Amount of Gain ​ ​ Derivatives - ​ Amount of Gain or ​ or (Loss) ​ or (Loss) ​ Total Net Interest Expense Cash Flow ​ (Loss) Recognized ​ Reclassified from ​ Reclassified from ​ on Condensed Hedging ​ in AOCL ​ AOCL into ​ AOCL into ​ Consolidated Statements Relationships ​ on Derivative ​ Income ​ Income ​ of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps for the three months ended: June 28, 2020 ​ $ (79) ​ Interest expense ​ $ (1,372) ​ $ (3,627) June 30, 2019 ​ $ (5,167) ​ Interest expense ​ $ 231 ​ $ (4,272) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps for the six months ended: June 28, 2020 ​ $ (8,487) ​ ​ Interest expense ​ $ (1,702) ​ $ (7,594) June 30, 2019 ​ $ (8,204) ​ Interest expense ​ $ 688 ​ $ (10,548) ​

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 28, 2020
Segment Information
Schedule of Segment Reporting Information, by Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 28, ​ June 30, ​ June 28, ​ June 30, (In thousands) ​ 2020 2019 2020 2019 Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 186,506 ​ $ 163,656 ​ $ 347,946 ​ $ 325,459 North America commissaries ​ ​ 167,619 ​ 147,128 ​ 323,041 ​ 296,032 North America franchising ​ ​ 24,174 ​ 19,761 ​ 43,614 ​ 37,291 International ​ ​ 34,366 ​ 31,420 ​ 66,518 ​ 62,920 All others ​ ​ 47,958 ​ 37,658 ​ 89,363 ​ 76,326 Total revenues ​ ​ $ 460,623 ​ $ 399,623 ​ $ 870,482 ​ $ 798,028 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intersegment revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America commissaries ​ ​ $ 47,357 ​ $ 46,962 ​ $ 91,863 ​ $ 92,517 North America franchising ​ ​ 793 ​ 787 ​ 1,467 ​ 1,460 International ​ ​ — ​ 94 ​ — ​ 191 All others ​ ​ 18,386 ​ 17,985 ​ 39,341 ​ 33,396 Total intersegment revenues ​ ​ $ 66,536 ​ $ 65,828 ​ $ 132,671 ​ $ 127,564 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 16,746 ​ $ 7,712 ​ $ 25,413 ​ $ 12,309 North America commissaries ​ ​ 8,567 ​ 7,792 ​ 16,076 ​ 15,304 North America franchising ​ ​ 22,176 ​ 17,910 ​ 39,502 ​ 33,601 International ​ ​ 4,589 ​ 5,403 ​ 9,088 ​ 10,720 All others ​ ​ 1,983 ​ (1,209) ​ 1,724 ​ (1,715) Unallocated corporate expenses ​ ​ (26,430) ​ (27,891) ​ (52,481) ​ (60,356) Elimination of intersegment (profits) losses ​ ​ (724) ​ 242 ​ (910) ​ (671) Total income before income taxes ​ ​ $ 26,907 ​ $ 9,959 ​ $ 38,412 ​ $ 9,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Company-owned restaurants ​ ​ $ 226,404 ​ ​ ​ ​ ​ ​ ​ ​ ​ North America commissaries ​ ​ ​ 143,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ ​ ​ 15,493 ​ ​ ​ ​ ​ ​ ​ ​ ​ All others ​ ​ ​ 88,602 ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated corporate assets ​ ​ ​ 213,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation and amortization ​ ​ ​ (486,909) ​ ​ ​ ​ ​ ​ ​ ​ ​ Property and equipment, net ​ ​ $ 200,581 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of revenue disaggregated by major product line	In the following tables, revenues are disaggregated by major product/service line. The tables also include a reconciliation of the disaggregated revenues by the reportable segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Three Months Ended June 28, 2020 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 186,506 $ - $ - $ - $ - $ 186,506 Commissary sales ​ - ​ 214,976 ​ - ​ 20,350 ​ - ​ 235,326 Franchise royalties and fees ​ - ​ - ​ 24,967 ​ 7,743 ​ - ​ 32,710 Other revenues ​ - ​ - ​ - ​ 6,273 ​ 66,344 ​ 72,617 Eliminations ​ - ​ (47,357) ​ (793) ​ - ​ (18,386) ​ (66,536) Total segment revenues $ 186,506 $ 167,619 $ 24,174 $ 34,366 $ 47,958 $ 460,623 International other revenues (1) ​ - ​ - ​ - ​ (6,273) ​ 6,273 ​ - Total revenues $ 186,506 $ 167,619 $ 24,174 $ 28,093 $ 54,231 $ 460,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Three Months Ended June 30, 2019 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 163,656 $ - $ - $ - $ - $ 163,656 Commissary sales ​ - ​ 194,090 ​ - ​ 15,948 ​ - ​ 210,038 Franchise royalties and fees ​ - ​ - ​ 20,548 ​ 9,549 ​ - ​ 30,097 Other revenues ​ - ​ - ​ - ​ 6,017 ​ 55,643 ​ 61,660 Eliminations ​ - ​ (46,962) ​ (787) ​ (94) ​ (17,985) ​ (65,828) Total segment revenues $ 163,656 $ 147,128 $ 19,761 $ 31,420 $ 37,658 $ 399,623 International other revenues (1) ​ - ​ - ​ - ​ (6,017) ​ 6,017 ​ - International eliminations (1) ​ - ​ - ​ - ​ 94 ​ (94) ​ - Total revenues $ 163,656 $ 147,128 $ 19,761 $ 25,497 $ 43,581 $ 399,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Six Months Ended June 28, 2020 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 347,946 $ - $ - $ - $ - $ 347,946 Commissary sales ​ - ​ 414,904 ​ - ​ 36,893 ​ - ​ 451,797 Franchise royalties and fees ​ - ​ - ​ 45,081 ​ 17,259 ​ - ​ 62,340 Other revenues ​ - ​ - ​ - ​ 12,366 ​ 128,704 ​ 141,070 Eliminations ​ - ​ (91,863) ​ (1,467) ​ - ​ (39,341) ​ (132,671) Total segment revenues $ 347,946 $ 323,041 $ 43,614 $ 66,518 $ 89,363 $ 870,482 International other revenues (1) ​ - ​ - ​ - ​ (12,366) ​ 12,366 ​ - International eliminations (1) ​ - ​ - ​ - ​ - ​ - ​ - Total revenues $ 347,946 $ 323,041 $ 43,614 $ 54,152 $ 101,729 $ 870,482 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable Segments ​ ​ Six Months Ended June 30, 2019 Major Products/Services Lines ​ Domestic Company-owned restaurants ​ North America commissaries ​ North America franchising ​ International ​ All others ​ Total Company-owned restaurant sales $ 325,459 $ - $ - $ - $ - $ 325,459 Commissary sales ​ - ​ 388,549 ​ - ​ 31,814 ​ - ​ 420,363 Franchise royalties and fees ​ - ​ - ​ 38,751 ​ 19,350 ​ - ​ 58,101 Other revenues ​ - ​ - ​ - ​ 11,947 ​ 109,722 ​ 121,669 Eliminations ​ - ​ (92,517) ​ (1,460) ​ (191) ​ (33,396) ​ (127,564) Total segment revenues $ 325,459 $ 296,032 $ 37,291 $ 62,920 $ 76,326 $ 798,028 International other revenues (1) ​ - ​ - ​ - ​ (11,947) ​ 11,947 ​ - International eliminations (1) ​ - ​ - ​ - ​ 191 ​ (191) ​ - Total revenues $ 325,459 $ 296,032 $ 37,291 $ 51,164 $ 88,082 $ 798,028 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Other revenues as reported in the Condensed Consolidated Statements of Operations include $6.3 million and $12.4 million of revenue for the three and six months ended June 28, 2020, respectively, and $5.9 million and $11.8 million for the three and six months ended June 30, 2019, respectively, that are part of the international reporting segment. These amounts include marketing fund contributions and sublease rental income from international franchisees in the United Kingdom that provide no significant contribution to income before income taxes but must be reported on a gross basis under accounting requirements. The related expenses for these Other revenues are reported in Other expenses in the Condensed Consolidated Statements of Operations.

Update to Significant Account_4

Update to Significant Accounting Policies - Noncontrolling Interest and Joint Ventures (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)restaurantentity	Jun. 30, 2019USD ($)entityrestaurant	Jun. 28, 2020USD ($)restaurantentity	Jun. 30, 2019USD ($)entityrestaurant
Noncontrolling Interests
Percentage of domestic restaurants franchised	80.00%		80.00%
Number of Joint Ventures Having Noncontrolling Interests | entity	4	4	4	4
Joint ventures
Noncontrolling Interests
Number of Restaurants | restaurant	192	192	192	192
Income Amounts Attributable to Noncontrolling Interest, Disclosures
Papa John's International, Inc.	$ 2,320	$ 708	$ 3,451	$ 1,172
Noncontrolling interests	1,337	322	1,887	455
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 3,657	$ 1,030	$ 5,338	$ 1,627

Update to Significant Account_5

Update to Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Carrying Value
Measurement of financial assets and liabilities at fair value on a recurring basis
Cash surrender value of life insurance policies	$ 32,155	$ 33,220
Interest rate swap liabilities	17,050	6,168
Measured on Recurring Basis | Level 1
Measurement of financial assets and liabilities at fair value on a recurring basis
Cash surrender value of life insurance policies	32,155	33,220
Measured on Recurring Basis | Level 2
Measurement of financial assets and liabilities at fair value on a recurring basis
Interest rate swap liabilities	$ 17,050	$ 6,168

Update to Significant Account_6

Update to Significant Accounting Policies - Schedule rollforward of the allowance for credit losses for accounts receivable, notes receivable and other assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Dec. 30, 2019	Dec. 29, 2019
Credit Losses
Retained earnings	$ 212,104			$ 205,697
Income tax receivable	755			$ 4,024
Allowance for Credit Loss
Current period provision for expected credit losses	1,051	$ 676
Accounts Receivable
Allowance for Credit Loss
Balance at beginning of period	7,341
Balance at beginning of period, adjusted			$ 8,253
Current period provision for expected credit losses	833
Write-offs charged against the allowance	(431)
Balance at end of period	8,655
Notes Receivable
Allowance for Credit Loss
Balance at beginning of period	3,572
Balance at beginning of period, adjusted			4,035
Current period provision for expected credit losses	74
Write-offs charged against the allowance	(10)
Recoveries collected	(56)
Transfers	1,054
Balance at end of period	5,097
Interest Receivable
Allowance for Credit Loss
Balance at beginning of period	910
Balance at beginning of period, adjusted			910
Current period provision for expected credit losses	144
Transfers	(1,054)
ASU 2016-13 | Total Adjustments
Credit Losses
Retained earnings			1,100
Income tax receivable			$ 300
ASU 2016-13 | Total Adjustments | Accounts Receivable
Allowance for Credit Loss
Balance at beginning of period	912
ASU 2016-13 | Total Adjustments | Notes Receivable
Allowance for Credit Loss
Balance at beginning of period	$ 463

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments, Lessor Operating Leases, and Lease Guarantees (Details) $ in Millions	6 Months Ended
	Jun. 28, 2020USD ($)restaurantlease	Jun. 30, 2019USD ($)
Leases
sublease income	$ 5	$ 4.8
Number of domestic leases for which the Company is contingently liable | lease	89
Estimated maximum amount of undiscounted payments in the event of nonpayment by primary lessees	$ 15.9
United Kingdom franchise-owned restaurants
Leases
Number of units leased and subleased | restaurant	370
Initial lease terms on franchised sites	15 years

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Leases
Operating cash flows from finance leases	$ 295
Financing cash flows from finance leases	939
Operating cash flows from operating leases	18,744	$ 20,307
Right-of-use assets obtained in exchange for new finance lease liabilities	19
Right-of-use assets obtained in exchange for new operating lease liabilities	13,370	6,180
Cash received from sublease income	$ 5,014	$ 4,662

Papa John's Marketing Fund, I_3

Papa John's Marketing Fund, Inc. (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Current assets:
Cash and cash equivalents	$ 75,699	$ 27,911
Accounts receivable, net	73,530	80,921
Income tax receivable	755	4,024
Total current assets	225,473	181,546
Deferred income taxes	4,978	1,839
Total assets	757,737	730,721
Current liabilities:
Accounts payable	30,699	29,141
Accrued expenses and other current liabilities	134,989	120,566
Current deferred revenue	5,382	5,624
Debt	20,107	20,000
Total current liabilities	228,919	207,945
Deferred revenue	13,543	14,722
Total liabilities	791,091	790,459
Papa John's Marketing Fund Inc.
Current assets:
Cash and cash equivalents	3,465	4,569
Accounts receivable, net	11,824	11,196
Income tax receivable	112	103
Prepaid expenses	434	1,316
Total current assets	15,835	17,184
Deferred income taxes	458	410
Total assets	16,293	17,594
Current liabilities:
Accounts payable	4,045	764
Accrued expenses and other current liabilities	10,884	14,287
Current deferred revenue	3,070	3,252
Debt	107
Total current liabilities	18,106	18,303
Deferred revenue	1,591	2,094
Total liabilities	$ 19,697	$ 20,397

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Revenue disaggregation
Revenue recognized related to deferred revenue and customer loyalty program	$ 8,400	$ 8,400	$ 16,300	$ 15,800
Contract liabilities	31,194		31,194		$ 32,395
Change			(1,201)
Contract assets	4,900		4,900		6,000
Amortization expense related to contract assets	700		1,600
Deferred revenue.
Revenue disaggregation
Contract liabilities	18,925		18,925		20,346
Change			(1,421)
Customer loyalty program
Revenue disaggregation
Contract liabilities	$ 12,269		12,269		$ 12,049
Change			$ 220

Revenue Recognition - Transacti

Revenue Recognition - Transaction Price Allocated to Remaining Performance Obligations (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Performance Obligations by Period
Total deferred revenue	$ 31,194	$ 32,395
Franchise royalties and fees
Performance Obligations by Period
Less than 1 Year	2,312
1-2 Years	2,110
2-3 Years	1,883
3-4 Years	1,612
4-5 Years	1,382
Thereafter	3,153
Total deferred revenue	12,452
Area development fees
Performance Obligations by Period
Total deferred revenue	1,800
Gift Card
Performance Obligations by Period
Total deferred revenue	$ 4,700

Common Stock and Series B Con_2

Common Stock and Series B Convertible Preferred Stock - Shares Authorized and Outstanding (Details) - shares	Jun. 28, 2020	Dec. 29, 2019
Authorized shares of preferred stock	5,000,000
Authorized shares of common stock	100,000,000
Outstanding shares of common stock , net of repurchased stock	32,300,000	31,900,000
Series B Convertible Preferred Stock, shares outstanding	252,530	252,500
Series B Preferred Stock
Authorized shares of preferred stock	260,000
Series B Convertible Preferred Stock, shares outstanding	252,500	252,500

Common Stock and Series B Con_3

Common Stock and Series B Convertible Preferred Stock - Cash Dividend (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2020	Jul. 31, 2020	Jun. 28, 2020	Jun. 30, 2019
Cash Dividend
Total dividends paid			$ 21,300
Dividends paid to common shareholders			14,500
Dividends paid to common shareholders			$ 14,520	$ 14,269
Dividend paid per common share (in dollars per share)			$ 0.45
Common stock dividends paid to preferred shareholders			$ 2,300
Preferred stock dividend rate			3.60%
Quarterly dividend declared, per share (in dollars per share)		$ 0.225
Forecast
Cash Dividend
Dividends paid to common shareholders		$ 7,400
Common stock dividends paid to preferred shareholders		$ 1,100
Series B Preferred Stock
Cash Dividend
Preferred dividends			$ 4,500
Series B Preferred Stock | Forecast
Cash Dividend
Quarterly dividend declared	$ 2,300
Series B Preferred Stock | Subsequent event | Forecast
Cash Dividend
Quarterly dividend, date of declaration	Oct. 1, 2020

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Basic earnings per common share:
Net income attributable to the Company	$ 20,614	$ 8,354	$ 29,057	$ 6,623
Preferred stock dividends and accretion	(3,347)	(3,486)	(6,818)	(5,556)
Net income attributable to participating securities	(1,560)		(1,306)
Net income attributable to common shareholders	$ 15,707	$ 4,868	$ 20,933	$ 1,067
Basic weighted average common shares outstanding	32,335,000	31,587,000	32,214,000	31,570,000
Basic earnings per common share	$ 0.49	$ 0.15	$ 0.65	$ 0.03
Diluted earnings per common share:
Net income attributable to common shareholders	$ 15,707	$ 4,868	$ 20,933	$ 1,067
Basic weighted average common shares outstanding	32,335,000	31,587,000	32,214,000	31,570,000
Dilutive effect of outstanding equity awards	284,000	186,000	230,000	176,000
Diluted weighted average common shares outstanding	32,619,000	31,773,000	32,444,000	31,746,000
Diluted earnings per common share	$ 0.48	$ 0.15	$ 0.65	$ 0.03
Weighted average antidilutive awards excluded from computation of earnings per share	145,000	1,561,000	170,000	1,469,000
Series B Convertible Preferred Stock, shares outstanding	252,530		252,530		252,500
Series B Preferred Stock
Diluted earnings per common share:
Weighted average antidilutive awards excluded from computation of earnings per share			5,000,000		5,000,000
Series B Convertible Preferred Stock, shares outstanding	252,500		252,500		252,500

Debt - Schedule of Long Term De

Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Debt
Outstanding debt	$ 350,107	$ 370,000
Unamortized debt issuance costs	(2,068)	(2,710)
Current portion of long-term debt	(20,107)	(20,000)
Total long-term debt, net	$ 327,932	$ 347,290

Debt - Credit Agreements (Detai

Debt - Credit Agreements (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2020USD ($)	Jun. 30, 2019	Jun. 28, 2020USD ($)item$ / shares	Jun. 30, 2019USD ($)	Dec. 29, 2019USD ($)
Debt
Outstanding debt	$ 350,107,000		$ 350,107,000		$ 370,000,000
Quarterly dividend paid per common share (in dollars per share) | $ / shares			$ 0.45
Dividends paid to common shareholders			$ 14,520,000	$ 14,269,000
Debt issuance costs	2,068,000		2,068,000		2,710,000
PJI Facilities
Debt
Outstanding debt	350,000,000		$ 350,000,000
Number of quarters in interest margin period | item			4
Line of credit facility, remaining availability	353,800,000		$ 353,800,000
Debt issuance costs	$ 2,100,000		$ 2,100,000
PJI Facilities | Minimum | Modification of financial covenants beginning in the third quarter of 2018
Debt
Fixed charge coverage ratio	2.25		2.25
PJI Facilities | Minimum | Modification of financial covenants in 2021 and thereafter
Debt
Fixed charge coverage ratio	2.50		2.50
PJI Facilities | Maximum | Ability to make dividends and distributions based on Leverage Ratio
Debt
Quarterly dividend paid per common share (in dollars per share) | $ / shares			$ 0.225
Dividends paid to common shareholders			$ 35,000,000
Leverage Ratio	3.75		3.75
PJI Facilities | Maximum | Modification of financial covenants beginning in the third quarter of 2018
Debt
Leverage Ratio	5		5
PJI Facilities | Maximum | Modification of financial covenants by 2022
Debt
Leverage Ratio	4		4
PJI Facilities | Maximum | Option to increase the Revolving Facility or the Term Loan Facility
Debt
Leverage Ratio	4		4
Additional amount that company has option to increase borrowing capacity			$ 300,000,000
PJI Facilities | LIBOR | Minimum
Debt
Interest margin rate on debt			1.25%
PJI Facilities | LIBOR | Maximum
Debt
Interest margin rate on debt			2.50%
PJI Facilities | Base rate | Minimum
Debt
Interest margin rate on debt			0.25%
PJI Facilities | Base rate | Maximum
Debt
Interest margin rate on debt			1.50%
PJMF Revolving Facility
Debt
Line of credit facility, maximum borrowing capacity	$ 20,000,000		$ 20,000,000
Outstanding debt	$ 100,000		$ 100,000		$ 0
Applicable interest rate	2.30%	4.20%	2.80%	4.20%
PJMF Revolving Facility | One-month LIBOR
Debt
Interest margin rate on debt			1.75%
Revolving Facility | PJI Facilities
Debt
Line of credit facility, maximum borrowing capacity	$ 400,000,000		$ 400,000,000
Outstanding debt	0		0
Line of credit facility, maximum borrowing capacity of foreign currencies	35,000,000		35,000,000
Term Loan Facility | PJI Facilities
Debt
Outstanding debt	$ 350,000,000		350,000,000
Quarterly amortization payment			$ 5,000,000

Debt - Derivatives (Details)

Debt - Derivatives (Details) $ in Millions	Jun. 28, 2020USD ($)
Interest rate swap, April 2018, 2.33% fixed
Interest rate swaps
Interest rate swap agreement, notional amount	$ 55
Interest rate swap agreement, fixed interest rate	2.33%
Interest rate swap, April 2018, 2.36% fixed
Interest rate swaps
Interest rate swap agreement, notional amount	$ 35
Interest rate swap agreement, fixed interest rate	2.36%
Interest rate swap, April 2018, 2.34% fixed
Interest rate swaps
Interest rate swap agreement, notional amount	$ 35
Interest rate swap agreement, fixed interest rate	2.34%
Interest rate swap, January 2018, 1.99% fixed, $100 million notional amount
Interest rate swaps
Interest rate swap agreement, notional amount	$ 100
Interest rate swap agreement, fixed interest rate	1.99%
Interest rate swap, January 2018, 1.99% fixed, $75 million notional amount
Interest rate swaps
Interest rate swap agreement, notional amount	$ 75
Interest rate swap agreement, fixed interest rate	1.99%
Interest rate swap, January 2018, 2.00% fixed, $50 Million notional amount
Interest rate swaps
Interest rate swap agreement, notional amount	$ 50
Interest rate swap agreement, fixed interest rate	2.00%
Interest rate swap
Interest rate swaps
Interest rate swap agreement, notional amount	$ 350

Debt - Interest Rate Swaps (Det

Debt - Interest Rate Swaps (Details) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Interest rate swap | Other current and long-term Liabilities
Debt and Credit Arrangements
Derivatives designated as hedging instruments, fair value	$ 17,050	$ 6,168

Debt - Effect of Derivatives on

Debt - Effect of Derivatives on Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Debt and Credit Arrangements
Weighted average interest rates on debt, including the impact of interest rate swap agreements	3.80%	4.30%	3.80%	4.40%
Interest paid, including payments made or received under the swaps	$ 4,000	$ 4,400	$ 8,100	$ 11,100
Interest rate swap
Debt and Credit Arrangements
Portion of derivative liability that would be reclassified into earnings			17,100
Interest expense | Interest rate swap
Debt and Credit Arrangements
Amount of Gain or (Loss) Recognized in AOCI/AOCL on Derivative	(79)	(5,167)	(8,487)	(8,204)
Amount of Gain or (Loss) Reclassified from AOCI/AOCL into Income	(1,372)	231	(1,702)	688
Total Net interest expense on Condensed Consolidated Statements of Operations	$ (3,627)	$ (4,272)	(7,594)	$ (10,548)
Portion of derivative liability that would be reclassified into earnings			$ 7,200
Estimate of period of time over which portion of derivative liability would be reclassified into earnings			12 months

Commitments and Contingencies (

Commitments and Contingencies (Details)	Jun. 28, 2020USD ($)	Oct. 29, 2018employee
Durling et al v. Papa John's International, Inc.
Loss Contingencies [Line Items]
Approximate number of employees who opted into the class action | employee		9,571
Expected future costs	$ 0
Danker V. Papa John's International, Inc.
Loss Contingencies [Line Items]
Expected future costs	$ 0

Segment Information - Concentra

Segment Information - Concentration (Details)	6 Months Ended
	Jun. 28, 2020entitysegment
Major customers disclosures
Number of reportable segments | segment	4
Consolidated revenues
Major customers disclosures
Concentration risk, number | entity	0

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Segment Information
Total revenues	$ 460,623	$ 399,623	$ 870,482	$ 798,028
Income before income taxes	26,907	9,959	38,412	9,192
Accumulated depreciation and amortization	(486,909)		(486,909)
Property and equipment, net	200,581		200,581		$ 211,741
Domestic Company-owned restaurants
Segment Information
Total revenues	186,506	163,656	347,946	325,459
North America commissary
Segment Information
Total revenues	167,619	147,128	323,041	296,032
North America franchising
Segment Information
Total revenues	24,174	19,761	43,614	37,291
International
Segment Information
Total revenues	28,093	25,497	54,152	51,164
Other segment
Segment Information
Total revenues	54,231	43,581	101,729	88,082
Operating segments
Segment Information
Total revenues	460,623	399,623	870,482	798,028
Operating segments | Domestic Company-owned restaurants
Segment Information
Total revenues	186,506	163,656	347,946	325,459
Income before income taxes	16,746	7,712	25,413	12,309
Property and equipment, gross	226,404		226,404
Operating segments | North America commissary
Segment Information
Total revenues	167,619	147,128	323,041	296,032
Income before income taxes	8,567	7,792	16,076	15,304
Property and equipment, gross	143,474		143,474
Operating segments | North America franchising
Segment Information
Total revenues	24,174	19,761	43,614	37,291
Income before income taxes	22,176	17,910	39,502	33,601
Operating segments | International
Segment Information
Total revenues	34,366	31,420	66,518	62,920
Income before income taxes	4,589	5,403	9,088	10,720
Property and equipment, gross	15,493		15,493
Operating segments | Other segment
Segment Information
Total revenues	47,958	37,658	89,363	76,326
Income before income taxes	1,983	(1,209)	1,724	(1,715)
Property and equipment, gross	88,602		88,602
Elimination
Segment Information
Total revenues	(66,536)	(65,828)	(132,671)	(127,564)
Income before income taxes	(724)	242	(910)	(671)
Elimination | North America commissary
Segment Information
Total revenues	(47,357)	(46,962)	(91,863)	(92,517)
Elimination | North America franchising
Segment Information
Total revenues	(793)	(787)	(1,467)	(1,460)
Elimination | International
Segment Information
Total revenues		(94)		(191)
Elimination | Other segment
Segment Information
Total revenues	(18,386)	(17,985)	(39,341)	(33,396)
Unallocated corporate
Segment Information
Income before income taxes	(26,430)	$ (27,891)	(52,481)	$ (60,356)
Property and equipment, gross	$ 213,517		$ 213,517

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Revenue disaggregation
Total revenues	$ 460,623	$ 399,623	$ 870,482	$ 798,028
Domestic Company-owned restaurants
Revenue disaggregation
Total revenues	186,506	163,656	347,946	325,459
North America franchising
Revenue disaggregation
Total revenues	24,174	19,761	43,614	37,291
North America commissary
Revenue disaggregation
Total revenues	167,619	147,128	323,041	296,032
International.
Revenue disaggregation
Total revenues	28,093	25,497	54,152	51,164
International. | International other revenue
Revenue disaggregation
Total revenues	(6,273)	(6,017)	(12,366)	(11,947)
International. | International eliminations
Revenue disaggregation
Total revenues		94		191
All others
Revenue disaggregation
Total revenues	54,231	43,581	101,729	88,082
All others | International other revenue
Revenue disaggregation
Total revenues	6,273	6,017	12,366	11,947
All others | International eliminations
Revenue disaggregation
Total revenues		(94)		(191)
Operating segments
Revenue disaggregation
Total revenues	460,623	399,623	870,482	798,028
Operating segments | Company-owned Restaurants
Revenue disaggregation
Total revenues	186,506	163,656	347,946	325,459
Operating segments | Commissary Sales
Revenue disaggregation
Total revenues	235,326	210,038	451,797	420,363
Operating segments | Franchise royalties and fees
Revenue disaggregation
Total revenues	32,710	30,097	62,340	58,101
Operating segments | Other Sales
Revenue disaggregation
Total revenues	72,617	61,660	141,070	121,669
Operating segments | Domestic Company-owned restaurants
Revenue disaggregation
Total revenues	186,506	163,656	347,946	325,459
Operating segments | Domestic Company-owned restaurants | Company-owned Restaurants
Revenue disaggregation
Total revenues	186,506	163,656	347,946	325,459
Operating segments | North America franchising
Revenue disaggregation
Total revenues	24,174	19,761	43,614	37,291
Operating segments | North America franchising | Franchise royalties and fees
Revenue disaggregation
Total revenues	24,967	20,548	45,081	38,751
Operating segments | North America commissary
Revenue disaggregation
Total revenues	167,619	147,128	323,041	296,032
Operating segments | North America commissary | Commissary Sales
Revenue disaggregation
Total revenues	214,976	194,090	414,904	388,549
Operating segments | International.
Revenue disaggregation
Total revenues	34,366	31,420	66,518	62,920
Other revenue from marketing fund contributions and sublease rental income	6,300	5,900	12,400	11,800
Operating segments | International. | Commissary Sales
Revenue disaggregation
Total revenues	20,350	15,948	36,893	31,814
Operating segments | International. | Franchise royalties and fees
Revenue disaggregation
Total revenues	7,743	9,549	17,259	19,350
Operating segments | International. | Other Sales
Revenue disaggregation
Total revenues	6,273	6,017	12,366	11,947
Operating segments | All others
Revenue disaggregation
Total revenues	47,958	37,658	89,363	76,326
Operating segments | All others | Other Sales
Revenue disaggregation
Total revenues	66,344	55,643	128,704	109,722
Elimination
Revenue disaggregation
Total revenues	(66,536)	(65,828)	(132,671)	(127,564)
Elimination | North America franchising
Revenue disaggregation
Total revenues	(793)	(787)	(1,467)	(1,460)
Elimination | North America commissary
Revenue disaggregation
Total revenues	(47,357)	(46,962)	(91,863)	(92,517)
Elimination | International.
Revenue disaggregation
Total revenues		(94)		(191)
Elimination | All others
Revenue disaggregation
Total revenues	$ (18,386)	$ (17,985)	$ (39,341)	$ (33,396)