Buffalo Wild Wings 2010 Annual Report Download - page 57

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57
BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 26, 2010 and December 27, 2009
(Dollar amounts in thousands, except per-share amounts)
(11) Supplemental Disclosures of Cash Flow Information
Fiscal Years Ended
December 26,
2010
December 27,
2009
December 28,
2008
Cash paid during the period for:
Income taxes
$ 15,315 8,899 4,681
Noncash financing and investing transactions:
Property and equipment not yet paid for
2,298
(4,405)
5,190
Tax withholding for restricted stock units
1,780 1,400 1,360
Goodwill adjustment
—
274 —
(12) Loss on Asset Disposals and Impairment
In 2010, 2009, and 2008, we closed restaurants resulting in a charge to earnings for remaining lease obligations,
utilities, and other related costs. These charges were recognized as a part of the loss on asset disposals and impairment on our
accompanying consolidated balance sheets.
The following is a rollforward of the store closing reserve for the years ended December 26, 2010, December 27, 2009,
and December 28, 2008:
December 26,
2010
December 27,
2009
December 28,
2008
Beginning reserve balance
$ —
— —
Store closing costs incurred 310
31
85
Costs paid
(250)
(31)
(85)
Ending reserve balance
$ 60
— —
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.
The following is a summary of the loss on asset disposals and impairment charges recognized by us:
Fiscal Years Ended
December 26,
2010
December 27,
2009
December 28,
2008
Store closing charges
$ 310
31
85
Long-lived asset impairment
—
296
549
Miscellaneous asset write-offs
1,741
1,601
1,449
$ 2,051
1,928
2,083
(13) Defined Contribution Plans
We have a defined contribution 401(k) plan whereby eligible employees may contribute pretax wages in accordance
with the provisions of the plan. We match 100% of the first 3% and 50% of the next 2% of contributions made by eligible
employees. Matching contributions of approximately $1,005, $819, and $702 were made by us during fiscal 2010, 2009, and
2008, respectively.