Buffalo Wild Wings 2014 Annual Report Download - page 63

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62
(13) Loss on Asset Disposals and Impairment
In 2014, 2013, and 2012, 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 statements of earnings.
The following is a rollforward of the store closing reserve:
Fiscal Years Ended
December 28,
2014 December 29,
2013 December 30,
2012
Beginning reserve balance $ 13 22 18
Store closing costs incurred 315 38 413
Costs paid (300)(47)(409)
Ending reserve balance $ 28 13 22
During 2014, we recorded an impairment charge for the assets of three underperforming restaurants. An impairment
charge of $1,661 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. There was an impairment charge of $1,118
in 2013 for two underperforming restaurants. There was no impairment during 2012.
The following is a summary of the loss on asset disposals and impairment charges recognized by us:
Fiscal Years Ended
December 28,
2014 December 29,
2013 December 30,
2012
Store closing charges $ 315 38 413
Long-lived asset impairment 1,661 1,118 —
Miscellaneous asset write-offs 1,851 2,106 2,878
Loss on asset disposals and impairment $ 3,827 3,262 3,291
(14) 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 $2,907, $1,710, and $1,660 were made by us during fiscal 2014, 2013,
and 2012, respectively.
Under our Management Deferred Compensation Plan, our executive officers and certain other individuals are entitled to
receive an amount equal to a percentage of their base salary ranging from 5.0% to 12.5% which is credited on a monthly basis
to their deferred compensation account. Cash contributions of $610, $584, and $517 were made by us during 2014, 2013, and
2012, respectively. Such amounts are subject to certain vesting provisions, depending on length of employment and
circumstances of employment termination. In addition, individuals may elect to defer a portion or all of their cash
compensation.
(15) Related Party Transactions
It is our policy that all related party transactions must be disclosed and approved by the disinterested directors. We have
evaluated the terms and considerations for such related party transactions and compared and evaluated these terms to amounts
that would have to be paid or received, as applicable, in arms-length transactions with independent third-parties. We believe all
related party transactions are comparable to arms-length.
A member of our board of directors, Warren Mack, is an officer at one of our law firms. Another member of our board
of directors, Jerry Rose, was an officer at one of our suppliers.