Company: JACK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0000807882-25-000030
Chunk: 58

Company: JACK IN THE BOX INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 58
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April 13,2025April 14,2024April 13,2025April 14,2024Integration and strategic initiatives$276 $4,268 $1,691 $9,889 Costs of closed restaurants and other1,927 773 2,768 1,632 Operating restaurant impairment charges1,129 — 1,877 — Accelerated depreciation20 88 20 125 Gains on acquisition of restaurants— — (6)(2,357)Losses on disposition of property and equipment, net864 138 1,385 1,148 $4,216 $5,267 $7,735 $10,437 

Other operating expenses, net decreased $1.1 million in the quarter and $2.7 million on a year-to-date basis. For the quarter, the decrease was primarily due to the decrease of integration and strategic initiatives of $4.0 million, partially offset by $1.1 million of restaurant impairment charges. For the year-to-date period, the decrease was primarily due to the decrease of integration and strategic initiatives of $8.2 million, partially offset by a $2.4 million acquisition gain in the prior year and $1.9 million of restaurant impairment charges in the current year.

Gains and Losses on the Sale of Company-Operated Restaurants

For the year-to-date period in 2025, the Company sold 13 Del Taco company-operated restaurants, for which the Company recognized a net gain on the sale of company-operated restaurants of $2.8 million. For the year-to-date period in 2024, the net loss on the sale of company-operated restaurants of $1.3 million, was comprised of a $2.2 million impairment of assets held for sale related to a Del Taco refranchising transaction, partially offset by additional proceeds received in connection with the extension of franchise agreements and the resolution of certain contingencies related to the sale of restaurants in prior years.

Refer to Note 3, Summary of Refranchisings and Assets Held for Sale, of the notes to the condensed consolidated financial statements for additional information regarding these transactions. 

Interest Expense, Net

Interest expense, net is comprised of the following (in thousands):

 QuarterYear-to-date April 13,2025April 14,2024April 13,2025April 14,2024Interest expense$18,705