Company: JACK
Filing Date: 2025-02-25
Form Type: 10-Q
Source: 0000807882-25-000016
Chunk: 73

Company: JACK IN THE BOX INC
Filing Date: 2025-02-25
Form: 10-Q
Item: Item 8
Chunk 73
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2025January 21,2024Operating lease income - franchise$80,817 $78,249 Variable lease income - franchise35,413 34,598 Amortization of sublease assets and liabilities, net316 349 Franchise rental revenues$116,546 $113,196 Operating lease income - closed restaurants and other (1)$2,555 $2,312 ____________________________(1)Includes closed restaurant properties included in “Other operating expenses, net” in our condensed consolidated statements of earnings.

7.FAIR VALUE MEASUREMENTS

Financial assets and liabilities — The following table presents our financial assets and liabilities measured at fair value on a recurring basis (in thousands):TotalQuoted Pricesin ActiveMarkets forIdenticalAssets(Level 1)SignificantOtherObservableInputs(Level 2)SignificantUnobservableInputs(Level 3)Fair value measurements as of January 19, 2025:Non-qualified deferred compensation plan (1)$19,405 $19,405 $— $— Total liabilities at fair value$19,405 $19,405 $— $— Fair value measurements as of September 29, 2024:Non-qualified deferred compensation plan (1)$18,481 $18,481 $— $— Total liabilities at fair value$18,481 $18,481 $— $— ____________________________(1)The Company maintains an unfunded defined contribution plan for key executives and other members of management. The fair value of this obligation is based on the closing market prices of the participants’ elected investments. The obligation is included in “Accrued liabilities” and “Other long-term liabilities” on our condensed consolidated balance sheets.The Company did not have any transfers in or out of Level 1, 2 or 3 for its financial liabilities.

12

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

The following table presents the carrying value and estimated fair value of our Class A-2 Notes as of January 19, 2025 and September 29, 2024 (in thousands):January 19,2025September 29,2024Carrying AmountFair ValueCarrying AmountFair ValueSeries 2019 Class A-2 Notes$697,813 $673,277 $699,625 $684,