Company: RRGB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001171759-25-000028
Chunk: 17

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 (quoted prices for identical assets in active markets). The following tables present the Company's assets measured at fair value on a recurring basis (in thousands):July 13, 2025Level 1Level 2Level 3Assets:    Investments in rabbi trust$1,908 $1,908 $— $— Total assets measured at fair value$1,908 $1,908 $— $— December 29, 2024Level 1Level 2Level 3Assets:Investments in rabbi trust$1,821 $1,821 $— $— Total assets measured at fair value$1,821 $1,821 $— $— Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisAssets and liabilities recognized or disclosed at fair value in the Condensed Consolidated Financial Statements on a nonrecurring basis include items such as property, plant and equipment, right of use assets, and other intangible assets. These assets are measured at fair value if determined to be impaired.During 2025 and 2024, the Company measured non-financial assets for impairment using continuing and projected future cash flows, which were based on significant inputs not observable in the market and thus represented a level 3 fair value measurement.During the second quarter of fiscal 2025, we impaired long-lived assets at one restaurant location with a carrying value of approximately $0.7 million. We determined the fair value of these long-lived assets to be nil, resulting in a $0.7 million impairment charge and no decrease in the location's right of use assets. During the second quarter of fiscal 2024, we impaired long-lived assets at two restaurant locations that we closed during the quarter with a carrying value of approximately $3.1 million. We determined the fair value of these long-lived assets to be $0.9 million as a result of the closures, resulting in a $1.1 million impairment charge and a $1.1 million decrease in right of use assets due to remeasurement.Disclosures of Fair Value of Other Assets and LiabilitiesThe Company's liability under its Credit Facility is carried at historical cost in the accompanying Condensed Consolidated Balance Sheets. As of July 13, 2025, the fair value of the Credit Facility was approximately $164.2 million and the principal amount carrying value was $169.2 million.