Company: RRGB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001171759-25-000028
Chunk: 45

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of Update 2023-09 to the consolidated financial statements.In November 2023, FASB issued Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023 and for interim periods within fiscal years beginning after December 15, 2024. Management adopted this ASU beginning with the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2024 filed with the SEC on February 26, 2025.In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, to provide a practical expedient and an accounting policy election related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. The amendments are effective for annual reporting periods beginning afterDecember 15, 2025, and interim reporting periods within those annual reporting periods. The Company is evaluating the impact of the adoption of Update 2025-05 to the consolidated financial statements.We reviewed all other recently issued accounting pronouncements and concluded they were either not applicable or not expected to have a significant impact on the Company's Condensed Consolidated Financial Statements.Recently Issued Tax LegislationOn July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act and the restoration of favorable tax treatment for specific business provisions. The legislation has multiple effective dates, with some provisions taking effect in 2025 and others phased in through 2027. In accordance with ASC 740, the effects of changes in tax rates and laws are recognized in the period in which the legislation is enacted. While the Company does not currently anticipate a material impact on the consolidated financial statements, Management is evaluating its potential effects.

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2. Revenue 

Disaggregation of revenueIn the following table, revenue is disaggregated by type of good or service (in thousands):Twelve Weeks EndedTwenty-Eight Weeks