Buffalo Wild Wings 2007 Annual Report Download - page 50

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50
BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 30, 2007 and December 31, 2006
(Dollar amounts in thousands, except per-share amounts)
(8) Supplemental Disclosures of Cash Flow Information
Fiscal Years Ended
December 30,
2007
December 31,
2006
December 25,
2005
Cash paid during the period for:
Income taxes $ 10,783 8,803 4,801
Noncash financing and investing transactions:
Property and equipment not yet paid for 1,135 1,130 82
Tax withholding for restricted stock units 1,100 2,267 578
Adjustment of restricted stock units to fair value on grant date — 2,568 —
Adjustment of restricted stock units to fair value — — 2,451
Capitalization of preopening rent expense — — 463
(9) Loss on Asset Disposals and Impairment
In 2007, 2006 and 2003, we closed restaurants. As a result, a charge was taken for remaining lease obligations, broker
fees, and utilities. These charges were recognized as a part of the loss on asset disposals and impairment and were based on
remaining lease obligations.
The rollforward of the store closing reserve for the years ended December 30, 2007, December 31, 2006, and
December 25, 2005 is as follows:
As of
December 31,
2006
2007
reserve
Costs
incurred
As of
December 30,
2007
Remaining lease obligation and utilities $ 54 85 (139) —
$ 54 85 (139) —
As of
December 25,
2005
2006
reserve
Costs
incurred
As of
December 31,
2006
Remaining lease obligation and utilities $ — 54 — 54
$ — 54 — 54
As of
December 26,
2004
2005
reserve
Costs
incurred
As of
December 25,
2005
Remaining lease obligation and utilities $ 136 — (136) —
$ 136 — (136) —
During 2006, we recorded an impairment charge for the assets of one underperforming restaurant. An impairment
charge of $481 was recorded to the extent that the carrying amount of the assets was not considered recoverable based on
estimated discounted future cash flows and the underlying fair value of the assets.
During 2005, we recorded an impairment charge for the assets of four underperforming restaurants. An impairment
charge of $1,268 was recorded to the extent that the carrying amount of the assets was not considered recoverable based on
estimated discounted future cash flows and the underlying fair value of the assets.