Company: JACK
Filing Date: 2025-02-25
Form Type: 10-Q
Source: 0000807882-25-000016
Chunk: 37

Company: JACK IN THE BOX INC
Filing Date: 2025-02-25
Form: 10-Q
Item: Item 1
Chunk 37
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 been determined to be probable.Lease guarantees — We remain contingently liable for certain leases relating to our former Qdoba business which we sold in fiscal 2018. Under the Qdoba Purchase Agreement, the buyer has indemnified the Company of all claims related to these guarantees. As of January 19, 2025, the maximum potential liability of future undiscounted payments under these leases is approximately $18.2 million. The lease terms extend for a maximum of approximately 13 more years and we would remain a guarantor of the leases in the event the leases are extended for any established renewal periods. In the event of default, we believe the exposure is limited due to contractual protections and recourse available in the lease agreements, as well as the Qdoba Purchase Agreement, including a requirement of the landlord to mitigate damages by re-letting the properties in default, and indemnity from the Buyer. The Company has not recorded a liability for these guarantees as we believe the likelihood of making any future payments is remote.

15.SUPPLEMENTAL CONSOLIDATED CASH FLOW INFORMATION (in thousands)

Sixteen Weeks Ended January 19,2025January 21,2024Non-cash investing and financing transactions:Decrease in obligations for purchases of property and equipment$(6,502)$6,053 Increase in dividends accrued or converted to common stock equivalents$61 $74 Right-of use assets obtained in exchange for operating lease obligations$63,007 $70,583 

17

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

16.SUPPLEMENTAL CONSOLIDATED BALANCE SHEET INFORMATION (in thousands)

January 19,2025September 29,2024Accounts and other receivables, net:Trade$61,386 $71,306 Notes receivable, current portion1,996 2,036 Income tax receivable766 819 Other8,726 13,918 Allowance for doubtful accounts(4,793)(4,512)$68,081 $83,567 Property and equipment, net:Land$96,967 $93,950 Buildings967,360 963,699 Restaurant and other equipment187,626 171,436 Construction in progress41,495 49,445 1,293,448 1,278,530 Less accumulated depreciation