10 unchanged sentences
System-wide 1,283 374 1,657
−Removed: Our Company-owned and franchise-operated restaurants in the United States are located in 49 states and Washington, D.C.
−Removed: We and our franchisees also have restaurants in two United States territories, Guam and Puerto Rico, and 28 countries:
−Removed: Bahrain, Canada, Chile, China, Costa Rica, the Dominican Republic, Ecuador, Egypt, Germany, Guatemala, Honduras, India, Japan, Kuwait, Lebanon, Malaysia, Mexico, Morocco, Oman, Peru, Philippines, Qatar, Saudi Arabia, South Korea, Sri Lanka, Taiwan, Tunisia, and the United Arab Emirates.
−Removed: June 29, 2022
−Removed: Domestic International
−Removed: of States No.
−Removed: Chili’s 49 30
−Removed: Maggiano’s 23 & D.C.
+Added: Our Chili’s domestic Company-owned and franchise-operated restaurants are located in 49 states.
+Added: We and our franchisees also have Chili’s restaurants in two United States territories, Guam and Puerto Rico, and 29 other countries:
+Added: Bahrain, Canada, Chile, China, Costa Rica, the Dominican Republic, Ecuador, Egypt, Germany, Guatemala, Honduras, India, Japan, Kuwait, Lebanon, Malaysia, Mexico, Morocco, Oman, Pakistan, Peru,
+Added: Philippines, Qatar, Saudi Arabia, South Korea, Sri Lanka, Taiwan, Tunisia, and the United Arab Emirates.
+Added: Our Maggiano’s Company-owned and franchise-operated restaurants are located in 22 states and Washington, D.C.
Restaurant Property Information
5 unchanged sentences
As of June 28, 2023, we own 50 properties of the 1,185 Company-owned restaurant locations.
−Removed: The related book value of these owned restaurant locations as of June 29, 2022 includes Land of $42.9 million and the net book value of Buildings and leasehold improvements totaling $14.9 million.
−Removed: The remaining 1,136 Company-owned restaurant locations are leased by us and the net book value of the Buildings and leasehold improvements totaled $475.1 million.
+Added: The related book value of these owned restaurant locations as of June 28, 2023 includes Land of $41.6 million and the net book value of Buildings and improvements totaling $12.6 million.
+Added: In fiscal 2023, we sold Land related to three closed restaurants, with a combined book value of $1.8 million.
+Added: The remaining 1,135 Company-owned restaurant locations are leased.
These leased restaurant locations can be categorized as follows:
777 ground leases (where we lease land only, but construct the building and leasehold improvements) and 358 retail leases (where we lease the land/retail space and building, but construct the leasehold improvements).
−Removed: We believe that our properties are suitable, adequate, well-maintained and sufficient for the operations contemplated.
−Removed: Our leased restaurants typically have an initial lease term of 10 to 20 years, with one or more renewal terms typically ranging from 1 to 10 years.
+Added: Our leased restaurants typically have an initial lease term of 10 to 20 years, with one or more renewal terms ranging from one to 10 years.
The leases typically provide for a fixed rental or a fixed rental plus percentage rentals based on sales volume.
1 unchanged sentence
We lease an office building in Dallas, Texas containing approximately 216,300 square feet which we use for our corporate headquarters and menu development activities.
−Removed: We also lease but have ceased use of our previous headquarters location consisting of 198,000 square feet.
+Added: As of June 28, 2023, we have also acquired land for a future Company-owned restaurant location with a value of $0.8 million.
LEGAL PROCEEDINGS
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.