Pizza Hut 2010 Annual Report Download - page 220
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123
Note 21 – Subsequent Event
Subsequent to the end of our fourth quarter, we decided to place our Long John Silver’s and A&W All-American Food
Restaurants brands for sale and began the process to identify a buyer. In the first quarter of 2011, we anticipate that we
will recognize a non-cash pre-tax impairment loss in Special Items as a result of our decision to sell. The amount of the
expected pre-tax loss as well as the related tax impact will be dependent upon indications we receive as to potential sales
prices and structures. We do not expect the eventual sale to have a material impact to our ongoing earnings or cash
flows.
Form 10-K