Company: JACK
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000807882-25-000043
Chunk: 61

Company: JACK IN THE BOX INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 61
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Gains on acquisition of restaurants— — (6)(2,357)Losses on disposition of property and equipment, net597 527 1,983 1,675 $5,683 $5,641 $13,418 $16,343 

Other operating expenses, net decreased less than $0.1 million in the quarter and $2.9 million on a year-to-date basis. For the quarter, the decrease was primarily due to the decrease of integration and strategic initiatives of $2.7 million, partially offset by $1.8 million of higher costs for closed restaurants as well as $0.6 million of higher operating restaurant impairment charges. For the year-to-date period, the decrease was primarily due to the decrease of integration and strategic initiatives of $10.9 million, partially offset by $2.9 million of additional costs of closed restaurants, $2.5 million of additional operating restaurant impairment charges, and a $2.4 million acquisition gain in the prior 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 $2.6 million. For the year-to-date period in 2024, the net loss on the sale of company-operated restaurants of $1.4 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 July 6,2025July 7,2024July 6,2025July 7,2024Interest expense$18,361 $18,901 $62,053 $63,261 Interest income(436)(499)(1,335)(1,770)Interest expense, net$17,925 $18,402 $60,718 $61,491 

Interest expense, net, decreased $0.5