Buffalo Wild Wings 2015 Annual Report Download - page 54

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54
Reacquired franchise rights consisted of the following:
December 27,
2015 December 28,
2014
Reacquired franchise rights $ 152,070 53,030
Accumulated amortization (22,788)(15,399)
Reacquired franchise rights, net $ 129,282 37,631
Amortization expense related to reacquired franchise rights for fiscal 2015, 2014, and 2013 was $7,301, $4,652, and
$5,097, respectively. The weighted average amortization period is 14.9 years. Estimated future amortization expense as of
December 27, 2015 was as follows:
Fiscal year ending:
2016 $ 11,908
2017 13,032
2018 11,785
2019 10,790
2020 9,896
Thereafter 71,871
Total future amortization expense $ 129,282
(6) Investments in Affiliates
We have a minority equity investment in Pie Squared Holdings, LLC, a California-based restaurant concept, as well as
licensing rights which had a balance of $6,726 and $8,064 for the fiscal years ended December 27, 2015 and December 28,
2014, respectively. As of December 27, 2015, Pie Squared Holdings operated 19 and franchised 10 PizzaRev fast casual pizza
restaurants, including 2 restaurants operated by us. As early as 2017, we have the option to purchase a majority interest in Pie
Squared Holdings, LLC, at the determined fair market value. We also have the right to open company-owned locations in
certain states. Investments in affiliates is included in other assets in our Consolidated Balance Sheets.
(7) Lease Commitments
We have operating leases related to the majority of our restaurants and corporate offices that have various expiration
dates. We also have capital leases related to certain restaurants. We also have certain leases where we are the deemed
accounting owner and record the transaction as a deemed landlord financing. Most of these leases contain renewal options. In
addition to base rents, leases typically require us to pay our share of common area maintenance, insurance, real estate taxes,
and other operating costs. Certain leases also include provisions for contingent rentals based upon sales.
Future minimum rental payments due under noncancelable operating leases, capital leases, deemed landlord financings
and commitments for restaurants under development as of December 27, 2015 were as follows: