Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 97

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 97
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4,363 Corporate and restaurant incentive compensation4,168 9,617 Accrued vacation6,583 6,528 Other4,024 2,532 Accrued payroll and payroll-related liabilities$39,672 $32,524 Accrued liabilities and other current liabilities consist of the following at December 29, 2024 and December 31, 2023 (in thousands):December 29, 2024December 31, 2023State and city sales tax payable$6,224 $7,830 Real estate, personal property, state income, and other taxes payable6,933 7,067 Insurance10,201 6,204 Utilities3,016 2,929 Legal4,935 8,740 Accrued interest1,536 1,657 Accrued marketing2,830 3,650 Current portion of finance lease liabilities1,019 939 Accrued termination benefits— 184 Other6,237 7,001 Accrued liabilities and other current liabilities$42,931 $46,201 Accrued termination benefits represents one-time termination benefits primarily related to changes in leadership positions as a result of our strategic pivot under the North Star plan and a related reduction in force and are accounted for in accordance with ASC Topic 420, Exit or Disposal Cost Obligations. The Company incurred a cumulative total of $5.1 million in one-time termination benefits, which is comprised of $0, $2.1 million, and $3.0 million recognized during fiscal 2024, 2023, and 2022, respectively, and included in Impairment and other charges (gains) in the Consolidated Statements of Operations and Comprehensive Loss. One-time termination benefits activity for the years ended December 31, 2023 and December 29, 2024, respectively is as follows:Termination BenefitsBalance as of December 25, 2022$2,505 Charges2,077 Cash Payments(4,398)Balance as of December 31, 2023$184 Charges— Cash Payments(184)Balance as of December 29, 2024$— 

8. BorrowingsBorrowings as of December 29, 2024 and December 31, 2023 are summarized below:

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December 29,