Buffalo Wild Wings 2005 Annual Report Download - page 66
Download and view the complete annual report
Please find page 66 of the 2005 Buffalo Wild Wings annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 26, 2004 AND DECEMBER 25, 2005
(DOLLAR AMOUNTS IN THOUSANDS, EXCEPT PER−SHARE AMOUNTS)
(9) SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Fiscal Years Ended
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
December 28, December 26, December 25,
2003 2004 2005
−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−−− −−−−−−−−−−−−−
Cash paid during the period for:
Interest 973 −− −−
Income taxes 1,582 2,621 4,801
Noncash financing and investing transactions:
Capital lease obligations incurred 3,879 −− −−
Increase in cumulative dividend and mandatory redemption
feature of preferred stock 1,452 −− −−
Conversion of preferred stock to common stock 13,240 −− −−
Adjustment of restricted stock units to fair value −− 2,726 2,451
Capitalization of preopening rent expense −− 2,199 463
(10) RESTAURANT IMPAIRMENT AND CLOSURES
In 2002 and 2003, the Company closed restaurants due to poor performance.
As a result, a charge was taken for remaining lease obligations, broker fees,
and utilities. These charges were recognized as a part of restaurant impairment
and closures and were based on remaining lease obligations.
The reconciliation of the store closing reserve for the years ended
December 28, 2003, December 26, 2004, and December 25, 2005 is as follows:
As of As of
December 29, 2003 Costs December 28,
2002 provision incurred 2003
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
Remaining lease obligation and utilities $ 164 210 (163) 211
Broker fees 58 (47) −− 11
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
$ 222 163 (163) 222
=============== ============ ============= =============
As of As of
December 28, 2004 Costs December 26,
2003 provision incurred 2004
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
Remaining lease obligation and utilities $ 211 1 (76) 136
Broker fees 11 (11) −− −−
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
$ 222 (10) (76) 136
=============== ============ ============= =============
As of As of
December 26, 2005 Costs December 25,
2004 provision incurred 2005
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
Remaining lease obligation and utilities $ 136 −− (136) −−
Broker fees −− −− −− −−
−−−−−−−−−−−−−−− −−−−−−−−−−−− −−−−−−−−−−−−− −−−−−−−−−−−−−
$ 136 −− (136) −−
=============== ============ ============= =============
During 2004, the Company recorded an impairment charge for the assets of
two underperforming restaurants. An impairment charge of $453,000 was recorded
to the extent that the carrying value of the assets was not considered