Company: JACK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000807882-25-000043
Chunk: 84

Company: JACK IN THE BOX INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 84
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2024 also include additional proceeds received in connection with the extension of franchise and lease agreements from the sale of restaurants in prior years.(2)Amount in 2024 includes a $2.2 million impairment of assets related to a Del Taco refranchising transaction that closed in the second quarter of 2024.Assets held for sale — Assets classified as held for sale on our condensed consolidated balance sheets as of July 6, 2025 and September 29, 2024 have carrying amounts of $12.0 million and $16.5 million, respectively. These amounts relate to i) company-owned restaurants to be refranchised, ii) operating restaurant properties which we intend to sell to franchisees and/or sell and leaseback with a third party, and iii) closed restaurant properties which we are marketing for sale.

4.FRANCHISE ACQUISITIONS

Franchise acquisitions — During the third quarter of 2025, the Company acquired 18 Del Taco franchise restaurants for $7.2 million, and recognized related goodwill of $6.3 million. During the first quarter of 2024, the Company acquired 9 Del Taco franchise restaurants for $86 thousand as part of two separate transactions, and recognized related gains of $2.4 million.The gains related to the 2024 acquisitions are recorded in “Other operating expenses, net” in the accompanying condensed consolidated statements of earnings (loss). The Company did not acquire any Jack in the Box or Del Taco franchise restaurants in the second or third quarters of 2024, nor in the first or second quarters of 2025. For further information, see Note 8, Other Operating Expenses, Net, in the notes to the condensed consolidated financial statements.

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JACK IN THE BOX INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following table summarizes the number of restaurants acquired from franchisees and the gains recognized (dollars in thousands):QuarterYear-to-dateJuly 6,2025July 7,2024July 6,2025July 7,2024Restaurants acquired from Del Taco franchisees18 — 18 9 Purchase price (1)$7,193 $— $7,193 $86 Closing and acquisition costs— — — 43 Property and equipment(5,010)— (5,010)(3,612)Intangible assets(165)— (