Buffalo Wild Wings 2011 Annual Report Download - page 56

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56
BUFFALO WILD WINGS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements
December 25, 2011 and December 26, 2010
(Dollar amounts in thousands, except per-share amounts)
(11) Supplemental Disclosures of Cash Flow Information
Fiscal Years Ended
December 25,
2011
December 26,
2010
December 27,
2009
Cash paid during the period for:
Income taxes
$ 6,755 15,315 8,899
Noncash financing and investing transactions:
Property and equipment not yet paid for
(5,211)
2,298
(4,405)
Tax withholding for restricted stock units
5,828 1,780 1,400
Goodwill adjustment
—
—
274
(12) Loss on Asset Disposals and Store Closures
In 2011, 2010, and 2009, 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 store closures on
our accompanying consolidated statements of earnings.
The following is a rollforward of the store closing reserve for the years ended December 25, 2011, December 26, 2010,
and December 27, 2009:
December 25,
2011
December 26,
2010
December 27,
2009
Beginning reserve balance
$ 60
— —
Store closing costs incurred 205
310
31
Costs paid
(247)
(250)
(31)
Ending reserve balance
$ 18
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 store closure charges recognized by us:
Fiscal Years Ended
December 25,
2011
December 26,
2010
December 27,
2009
Store closing charges
$ 205
310
31
Long-lived asset impairment
—
—
296
Miscellaneous asset write-offs
1,724
1,741
1,601
Loss on asset disposals and store closures
$ 1,929
2,051
1,928
(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 $1,249, $1,005, and $819 were made by us during fiscal 2011, 2010,
and 2009, respectively.