Company: RRGB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001171759-25-000012
Chunk: 95

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 95
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 resulted in a gain, net of expenses of $7.4 million. The net proceeds are included within cash flows from investing activities on the Consolidated Statements of Cash Flows for the year ended December 29, 2024. During fiscal 2023, the Company sold 18 restaurant properties for aggregate net proceeds of $58.8 million in sale-leaseback transactions that resulted in a gain, net of expenses of $29.4 million. In addition, during 2023, the Company sold one restaurant property for net proceeds of $1.5 million which resulted in a gain, net of expenses of $0.1 million. The net proceeds are included within cash flows from investing activities on the Consolidated Statements of Cash Flows for the year ended December 31, 2023.During fiscal 2022, the Company sold one restaurant property for aggregate net proceeds of $12.4 million in a short-term sale-leaseback transaction that resulted in a gain, net of expenses of $9.2 million. The net proceeds are included within cash flows from investing and financing activities on the Consolidated Statements of Cash Flows for the year ended December 25, 2022.Litigation ContingenciesIn fiscal 2024, 2023, and 2022, the Company recorded reserves associated with litigation contingencies. See Note 12. Commitments and Contingencies, for further discussion.Asset Disposal and Other

Asset disposal and other primarily relates to lease terminations and closures of restaurants and corporate office locations, asset disposals, strategic projects and other non-recurring items. 

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Table of Contents

5. Property and Equipment, NetProperty and equipment consist of the following at December 29, 2024 and December 31, 2023 (in thousands):December 29, 2024December 31, 2023Land$9,760 $19,703 Buildings13,496 49,178 Leasehold improvements574,256 627,805 Furniture, fixtures, and equipment360,611 377,158 Construction in progress13,307 19,300 Property and equipment, gross$971,430 $1,093,144 Accumulated depreciation and amortization(790,206)(831,886)Property and equipment, net$181,224 $261,258 Depreciation and amortization expense on property and equipment was $55.4