Jack In The Box 2009 Annual Report Download - page 71
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Table of Contents
The following table reflects the assets and liabilities of these VIEs that were included in our consolidated balance sheet at
September 27, 2009 (in thousands):
Cash $ — $ 182
Accounts receivable — 77
Prepaid assets 2,339 96
Other — 6
Total assets $ 2,339 $ 361
Accounts payable $ — $ 414
Accrued liabilities 21,165 (53)
Total liabilities $ 21,165 $ 361
Commitments — We are principally liable for lease obligations on various properties subleased to third parties. We are also obligated
under a lease guarantee agreement associated with a Chi-Chi’s restaurant property. Due to the bankruptcy of the Chi-Chi’s restaurant
chain, previously owned by us, we are obligated to perform in accordance with the terms of a guarantee agreement, as well as four other
lease agreements, which expire at various dates in 2010 and 2011. During fiscal 2003, we established an accrual for these lease obligations
and do not anticipate incurring any additional charges in future years related to Chi-Chi’s bankruptcy.
Legal matters — We are subject to normal and routine litigation. In the opinion of management, based in part on the advice of legal
counsel, the ultimate liability from all pending legal proceedings, asserted legal claims and known potential legal claims should not
materially affect our operating results, financial position or liquidity.
Reflecting our vision of being a national restaurant company and the information currently being used in managing the Company as
a two-branded restaurant operations business, our segments comprise results related to system restaurant operations for our Jack in the
box and Qdoba brands. This segment reporting structure reflects the Company’s current management structure, internal reporting
method, and financial information used in deciding how to allocate Company resources. Based upon certain quantitative thresholds, both
operating segments are considered reportable segments.
F-32