Buffalo Wild Wings 2009 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2009 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.

Page out of 119

  • 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

BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 27, 2009 and December 28, 2008
(Dollar amounts in thousands, except per-share amounts)
(11) Supplemental Disclosures of Cash Flow Information
Fiscal Years Ended
December 27,
2009
December 28,
2008
December 30,
2007
Cash paid during the period for:
Income taxes $ 8,899 4,681 10,783
Noncash financing and investing transactions:
Property and equipment not yet paid for (4,405) 5,190 1,135
Tax withholding for restricted stock units 1,400 1,360 1,100
Goodwill adjustment 274 — —
(12) Loss on Asset Disposals and Impairment
In 2009, 2008, and 2007, 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 27, 2009, December 28, 2008, and December 30,
2007, is as follows:
As of
December 28,
2008
2009
expense
Costs
incurred
As of
December 27,
2009
Remaining lease obligation
and utilities $ — $ 31 $ (31) $ —
$ — $ 31 $ (31) $ —
As of
December 30,
2007
2008
expense
Costs
incurred
As of
December 28,
2008
Remaining lease obligation
and utilities $ — $ 85 $ (85) $ —
$ — $ 85 $ (85) $ —
As of
December 31,
2006
2007
expense
Costs
incurred
As of
December 30,
2007
Remaining lease obligation
and utilities $ 54 $ 85 $ (139) $ —
$ 54 $ 85 $ (139) $ —
During 2009, we recorded an impairment charge for the assets of one underperforming restaurant. An impairment charge of
$237 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. We also recorded an impairment charge of $59 related to liquor licenses
to the extent that the carrying amount of the licenses was higher that the fair value as determined using market quotes.
Source: BUFFALO WILD WINGS INC, 10-K, February 26, 2010 Powered by Morningstar® Document Research℠