0000703351-22-000020 | 10-Q | XBRL Viewer | Brinker International INC

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 30, 2022	Apr. 29, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 30, 2022
Entity File Number	1-10275
Entity Registrant Name	BRINKER INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-1914582
Entity Address, Address Line One	3000 Olympus Blvd
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75019
City Area Code	(972)
Local Phone Number	980-9917
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	EAT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000703351
Current Fiscal Year End Date	--06-29
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		43,841,092

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021	Mar. 30, 2022	Mar. 24, 2021
Statement of Comprehensive Income [Abstract]
Total revenues	$ 980.4	$ 828.4	$ 2,782.6	$ 2,329.2
Operating costs and expenses
Food and beverage costs	270.3	213.9	757.4	606.3
Restaurant labor	329.1	270.8	949.4	774.6
Restaurant expenses	244.1	216.1	712.1	629.9
Depreciation and amortization	42.2	37.4	123.1	112.0
General and administrative	39.2	33.7	108.8	94.2
Other (gains) and charges	6.1	4.3	17.0	13.5
Total operating costs and expenses	931.0	776.2	2,667.8	2,230.5
Operating income	49.4	52.2	114.8	98.7
Interest expenses	11.1	14.1	34.8	43.1
Other income, net	(0.4)	(0.3)	(1.2)	(1.2)
Income before income taxes	38.7	38.4	81.2	56.8
Provision for income taxes	2.1	4.5	3.8	0.2
Net income	$ 36.6	$ 33.9	$ 77.4	$ 56.6
Basic net income per share	$ 0.82	$ 0.74	$ 1.71	$ 1.25
Diluted net income per share	$ 0.81	$ 0.73	$ 1.68	$ 1.22
Basic weighted average shares outstanding	44.4	45.5	45.2	45.3
Diluted weighted average shares outstanding	45.1	46.7	46.0	46.2
Other comprehensive income (loss)
Foreign currency translation adjustment	$ 0.4	$ 0.3	$ (0.1)	$ 1.1
Other comprehensive income (loss)	0.4	0.3	(0.1)	1.1
Comprehensive income	37.0	34.2	77.3	57.7
Company sales [Member]
Revenue from contract with customer, excluding assessed tax	960.6	813.7	2,724.7	2,288.1
Franchise and other revenues [Member]
Revenue from contract with customer, excluding assessed tax	$ 19.8	$ 14.7	$ 57.9	$ 41.1

Consolidated Balance Sheets (Unaudited) - USD ($) shares in Millions, $ in Millions	Mar. 30, 2022	Jun. 30, 2021
Current assets
Cash and cash equivalents	$ 12.9	$ 23.9
Accounts receivable, net	60.0	65.2
Inventories	33.6	28.9
Restaurant supplies	55.5	52.6
Prepaid expenses	20.4	13.6
Income taxes receivable, net	5.6	23.0
Total current assets	188.0	207.2
Property and equipment, at cost
Land	43.4	33.1
Buildings and Improvements, Gross	1,621.8	1,595.2
Furniture and equipment	795.7	818.1
Construction-in-progress	23.0	14.9
Gross property and equipment	2,483.9	2,461.3
Less accumulated depreciation and amortization	(1,665.5)	(1,686.5)
Net property and equipment	818.4	774.8
Other assets
Operating lease assets	1,152.9	1,007.4
Goodwill	195.1	188.2
Deferred income taxes, net	54.4	50.9
Intangibles, net	28.5	21.1
Other	21.5	25.3
Total other assets	1,452.4	1,292.9
Total assets	2,458.8	2,274.9
Current liabilities
Accounts payable	131.4	127.7
Gift card liability	104.8	106.4
Accrued payroll	108.2	122.4
Operating lease liabilities	113.5	97.7
Other accrued liabilities	125.2	117.4
Total current liabilities	583.1	571.6
Long-term debt and finance leases, less current installments	987.9	917.9
Long-term operating lease liabilities, less current portion	1,143.3	1,006.7
Other liabilities	55.7	82.0
Commitments and contingencies (Note 14)
Shareholders’ deficit
Common stock, shares authorized	250.0
Common stock, par value per share	$ 0.10
Common stock, shares issued	70.3
Common stock, shares outstanding	43.8	45.9
Common stock (250.0 million authorized shares; $0.10 par value; 70.3 million shares issued; and 43.8 million shares outstanding at March 30, 2022, and 45.9 million shares outstanding at June 30, 2021)	$ 7.0	$ 7.0
Additional paid-in capital	687.8	685.4
Accumulated other comprehensive loss	(4.8)	(4.7)
Accumulated deficit	$ (188.7)	$ (266.1)
Treasury stock, shares	26.5	24.4
Treasury stock, at cost (26.5 million shares at March 30, 2022, and 24.4 million shares at June 30, 2021)	$ (812.5)	$ (724.9)
Total shareholders’ deficit	(311.2)	(303.3)
Total liabilities and shareholders’ deficit	$ 2,458.8	$ 2,274.9

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021
Cash flows from operating activities
Net income	$ 77.4	$ 56.6
Adjustments to reconcile Net income to Net cash provided by operating activities:
Depreciation and amortization	123.1	112.0
Stock-based compensation	15.2	11.3
Restructure and impairment charges	8.7	6.5
Net loss on disposal of assets	2.3	1.1
Other	2.6	2.7
Changes in assets and liabilities, net of the impact of acquisitions:
Accounts receivable, net	8.0	(1.3)
Inventories	(3.4)	(0.4)
Restaurant supplies	(1.1)	(0.4)
Prepaid expenses	(6.9)	2.3
Operating lease assets, net of liabilities	5.2	(9.1)
Deferred income taxes, net	(3.5)	(9.3)
Other assets	0.2	(0.2)
Accounts payable	4.9	19.0
Gift card liability	(2.6)	1.0
Accrued payroll	(14.3)	46.7
Other accrued liabilities	3.5	10.5
Current income taxes	19.6	6.4
Other liabilities	(27.3)	13.2
Net cash provided by operating activities	211.6	268.6
Cash flows from investing activities
Payments for property and equipment	(109.0)	(62.4)
Payments for franchise restaurant acquisitions	(106.0)	0.0
Proceeds from sale leaseback transactions, net of related expenses	20.5	0.0
Proceeds from note receivable	1.0	1.5
Proceeds from sale of assets	0.1	1.6
Net cash used in investing activities	(193.4)	(59.3)
Cash flows from financing activities
Borrowings on revolving credit facility	595.5	28.4
Payments on revolving credit facility	(502.5)	(210.0)
Purchases of treasury stock	(100.8)	(4.1)
Payments on long-term debt	(17.6)	(14.3)
Payments for debt issuance costs	(3.1)	(2.2)
Payments of dividends	(1.1)	(1.5)
Proceeds from issuance of treasury stock	0.4	14.1
Net cash used in financing activities	(29.2)	(189.6)
Net change in cash and cash equivalents	(11.0)	19.7
Cash and cash equivalents at beginning of period	23.9	43.9
Cash and cash equivalents at end of period	$ 12.9	$ 63.6

SUPPLEMENTAL CASH FLOW INFORMATION

9 Months Ended

Mar. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Cash paid for income taxes and interest is as follows:


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Income taxes, net of (refunds)	$	(11.6)	$	2.8
Interest, net of amounts capitalized	23.5		30.8

Non-cash operating, investing and financing activities are as follows:


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Operating lease additions(1)	$	214.7	$	51.4
Finance lease additions	12.6		6.1
Accrued capital expenditures	7.6		4.3
Retirement of fully depreciated assets(2)	120.9		13.1

(1)The thirty-nine week period ended March 30, 2022 primarily included operating lease additions associated with the 66 restaurants purchased from three former franchisees and the modifications of 25 leases. Refer to Note 2 - Chili’s Restaurant Acquisitions and to Note 9 - Leases for further details.

(2)The thirty-nine week period ended March 30, 2022 included the retirement of fully depreciated assets no longer in use based on a periodic review performed during fiscal 2022.

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Mar. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	References to “Brinker,” the “Company,” “we,” “us,” and “our” in this Form 10-Q refer to Brinker International, Inc. and its subsidiaries and any predecessor companies of Brinker International, Inc. Our Consolidated Financial Statements (Unaudited) as of March 30, 2022 and June 30, 2021, and for the thirteen and thirty-nine week periods ended March 30, 2022 and March 24, 2021, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). We are principally engaged in the ownership, operation, development and franchising of the Chili’s® Grill & Bar (“Chili’s”) and Maggiano’s Little Italy® (“Maggiano’s”) restaurant brands, as well as virtual brands including It’s Just Wings® and Maggiano’s Italian Classics™. At March 30, 2022, we owned, operated or franchised 1,650 restaurants, consisting of 1,187 Company-owned restaurants and 463 franchised restaurants, located in the United States, 28 countries and two United States territories. Fiscal Year We have a 52 or 53 week fiscal year ending on the last Wednesday in June. We utilize a 13 week accounting period for quarterly reporting purposes, except in years containing 53 weeks when the fourth quarter contains 14 weeks. Fiscal year 2022 contains 52 weeks and will end on June 29, 2022. Fiscal year 2021 ended on June 30, 2021 and contained 53 weeks. Use of Estimates The preparation of the Consolidated Financial Statements (Unaudited) is in conformity with generally accepted accounting principles in the United States (“GAAP”) and requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements (Unaudited), and the reported amounts of revenues and costs and expenses in the reporting periods. Actual results could differ from those estimates. The information furnished herein reflects all adjustments (consisting only of normal recurring accruals and adjustments) which are, in our opinion, necessary to fairly state the interim operating results, financial position and cash flows for the respective periods. However, these operating results are not necessarily indicative of the results expected for the full fiscal year. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with GAAP, have been omitted pursuant to SEC rules and regulations. The Notes to Consolidated Financial Statements (Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements contained in our June 30, 2021 Form 10-K. We believe the disclosures are sufficient for interim financial reporting purposes. All amounts in the Notes to Consolidated Financial Statements (Unaudited) are presented in millions unless otherwise specified. Foreign Currency Translation The foreign currency translation adjustment included in Comprehensive income in the Consolidated Statements of Comprehensive Income (Unaudited) represents the unrealized impact of translating the financial statements of our Canadian restaurants from Canadian dollars to United States dollars. This amount is not included in Net income and would only be realized upon disposition of our Canadian restaurants. The related Accumulated other comprehensive loss is presented in the Consolidated Balance Sheets (Unaudited). Impact of COVID-19 Pandemic In March 2020, a novel strain of coronavirus (“COVID-19”) was declared a global pandemic and a National Public Health Emergency. The spread of COVID-19 has prompted changes in consumer behavior and social distancing preferences as well as dining room closures and dining room capacity restrictions mandated or encouraged by federal, state and local governments. The number of open dining rooms and the dining room capacity restrictions have fluctuated over the course of the pandemic based on state and local mandates, and has resulted in significant adverse impacts to our guest traffic and sales primarily in fiscal 2021. We have been carefully assessing the effect of COVID-19 on our business as conditions continue to evolve throughout the communities we serve. At this time, the ultimate impact of COVID-19 cannot be reasonably estimated due to the uncertainty about the extent and the duration of the spread of the virus and could lead to further reduced sales, capacity restrictions, restaurant closures, delays in our supply chain or impair our ability to staff accordingly which could adversely impact our financial results. New Accounting Standards Implemented in Fiscal 2022 We reviewed all accounting pronouncements that became effective for our fiscal 2022 and determined that either they were not applicable or they did not have a material impact on the Consolidated Financial Statements (Unaudited). We also reviewed all recently issued accounting pronouncements to be adopted in future periods and determined that they are not expected to have a material impact on the Consolidated Financial Statements (Unaudited).

CHILI'S RESTAURANT ACQUISITIONS

9 Months Ended

Mar. 30, 2022

Business Combinations [Abstract]

Chili's Restaurant Acquisitions

During the first three quarters of fiscal 2022, we completed three acquisitions of certain assets and liabilities related to previously franchised Chili’s locations, as follows:

•Mid-Atlantic Region Acquisition - On September 2, 2021, we acquired 23 previously franchised Chili’s restaurants located in the Mid-Atlantic region of the United States for a total purchase price of $47.7 million, including post-closing adjustments. The acquisition was funded with borrowings from our existing credit facility and proceeds from a sale leaseback transaction completed simultaneously with the acquisition (refer to Note 9 - Leases for further details on the sale leaseback transaction).

•Great Lakes Region Acquisition - On October 31, 2021, we acquired 37 previously franchised Chili’s restaurants located in the Great Lakes and Northeast region of the United States for a total purchase price of $56.0 million, excluding post-closing adjustments, funded with borrowings from our existing credit facility.

•Northwest Region Acquisition - On February 1, 2022, we acquired six previously franchised Chili’s restaurants located in the Northwest region of the United States for a total purchase price of $1.3 million, excluding post-closing adjustments, funded with borrowings from our existing credit facility.

Pro-forma financial information for these acquisitions are not presented due to the immaterial impact of the financial results of the acquired restaurants in the Consolidated Financial Statements (Unaudited). We accounted for each of these acquisitions as a business combination.

The assets and liabilities of the Mid-Atlantic Region Acquisition restaurants were recorded at their fair values. The assets and liabilities of the Great Lakes Region Acquisition and Northwest Region Acquisition restaurants were recorded based on preliminary estimates of their fair values and are subject to revision. The final purchase price allocations are expected to be completed during the fourth quarter of fiscal 2022. The results of operations, and assets and liabilities, of these restaurants are included in the Consolidated Financial Statements (Unaudited) from the acquisition dates.

The fair values of tangible and intangible assets acquired were primarily based on significant inputs not observable in an active market, including estimates of replacement costs, future cash flows and discount rates. These inputs

represent Level 3 fair value measurements as defined under GAAP. The amounts recorded for the fair value of acquired assets and liabilities at the acquisition dates are as follows:


	Mid-Atlantic Region		Great Lakes Region (Preliminary)

Current assets	$	1.4	$	2.1

Property and equipment	46.2		43.9
Operating lease assets(2)	23.6		45.1
Reacquired franchise rights(1)	4.7		4.6
Goodwill(3)	—		6.9

Current liabilities	(1.4)		(0.3)

Finance lease liabilities, less current portion	(3.7)		—
Operating lease liabilities, less current portion(2)	(23.1)		(45.2)

Net assets acquired(4)	$	47.7	$	57.1

(1)Reacquired franchise rights related to the Mid-Atlantic Region acquisition and Great Lakes Region acquisition both have weighted average amortization periods of approximately 15 years.

(2)Refer to Note 9 - Leases for further details.

(3)Goodwill is expected to be deductible for tax purposes. The portion of the purchase price attributable to goodwill represents the benefits expected as a result of the acquisition, including sales and unit growth opportunities, and the benefit of the assembled workforce of the acquired restaurants.

(4)Net assets acquired at fair value related to the Mid-Atlantic Region acquisition are equal to the total purchase price of $48.0 million, less $0.3 million of closing adjustments. Net assets acquired at fair value related to the Great Lakes Region acquisition are equal to the total purchase price of $56.0 million, plus $1.1 million of closing adjustments.

REVENUE RECOGNITION

9 Months Ended

Mar. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Deferred Franchise and Development Fees

Our deferred franchise and development fees consist of the unrecognized fees received from franchisees. Recognition of these fees in subsequent periods is based on satisfaction of the contractual performance obligations of our active contracts with franchisees. We also expect to earn subsequent period royalties and advertising fees related to our franchise contracts; however, due to the variability and uncertainty of these future revenues based upon a sales-based measure, these future revenues are not yet estimable as the performance obligations remain unsatisfied.

Deferred franchise and development fees are classified within Other accrued liabilities for the current portion expected to be recognized within the next 12 months, and Other liabilities for the long-term portion in the Consolidated Balance Sheets (Unaudited).

The following table reflects the changes in deferred franchise and development fees between June 30, 2021 and March 30, 2022:


	Deferred Franchise and Development Fees

Balance as of June 30, 2021	$	11.4
Additions	0.8
Amount recognized for Chili's restaurant acquisitions(1)	(0.8)
Amount recognized to Franchise and other revenues	(1.3)

Balance as of March 30, 2022	$	10.1

(1) The remaining deferred franchise and development fee balances associated with the 66 acquired Chili’s restaurants were recognized as of the acquisition dates in Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited). Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

The following table illustrates franchise and development fees expected to be recognized in the future related to performance obligations that were unsatisfied or partially unsatisfied as of March 30, 2022:


Fiscal Year	Franchise and Development Fees Revenue Recognition
Remainder of 2022	$	0.2
2023	0.9
2024	0.8
2025	0.8
2026	0.8
Thereafter	6.6
	$	10.1

Deferred Gift Card Revenues

Deferred revenues related to our gift cards include the full value of unredeemed gift card balances less recognized breakage and the unamortized portion of third party fees. The following table reflects the changes in the Gift card liability between June 30, 2021 and March 30, 2022:


	Gift Card Liability

Balance as of June 30, 2021	$	106.4
Gift card sales	107.2
Gift card redemptions recognized to Company sales	(93.0)
Gift card breakage recognized to Franchise and other revenues	(16.5)
Other	0.7
Balance as of March 30, 2022	$	104.8

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

OTHER GAINS AND CHARGES

9 Months Ended

Mar. 30, 2022

Other Gains and Charges [Abstract]

Other Gains and Charges

Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited) consist of the following:


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Restaurant closure charges	$	1.2	$	0.3	$	1.7	$	2.2
Remodel-related costs	0.9		0.9		4.0		1.8
COVID-19 related charges	0.7		0.9		0.2		3.1
Acquisition-related costs, net	0.6		—		1.5		—
Enterprise system implementation costs	0.5		—		1.4		—
Loss from natural disasters, net of (insurance recoveries)	—		1.8		0.8		2.0
Lease contingencies	—		—		2.9		—
Restaurant impairment charges	—		—		—		2.5
Other	2.2		0.4		4.5		1.9
	$	6.1	$	4.3	$	17.0	$	13.5

Fiscal 2022

•Restaurant closure charges related to closure costs and leases associated with certain closed Chili’s restaurants.

•Remodel-related costs related to existing fixed asset write-offs associated with ongoing Chili’s and Maggiano’s remodel projects.

•COVID-19 related charges primarily consisted of charges for employee assistance and related payroll taxes for certain team members partially offset by an employee retention credit as allowed under the CARES Act in the second quarter and credits received as part of the 2021 New Mexico Senate Bill 1 in the first quarter.

•Acquisition-related costs, net primarily related to the 66 restaurants acquired from franchisees during the first three quarters. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

•Enterprise system implementation costs primarily consisted of consulting and subscription fees related to the ongoing enterprise system implementation.

•Lease contingencies were recorded for potential lease defaults on certain lease guarantees and subleases. Refer to Note 14 - Contingencies for additional information about our secondarily liable lease guarantees.

Fiscal 2021

•Restaurant closure charges in the thirty-nine week period related to closure costs and leases associated with certain closed Chili’s restaurants.

•Remodel-related costs related to fixed asset disposals associated with the ongoing Chili’s remodel initiative.

•COVID-19 related charges in the thirty-nine week period ended March 24, 2021 consisted of the following costs related to both Chili’s and Maggiano’s:

–employee assistance and related payroll taxes for certain team members,

–conversion of certain parking lots into dining areas, and

–initial purchases of restaurant and personal protective supplies such as face masks and hand sanitizers required to maintain open dining rooms.

•Loss from natural disasters, net of (insurance recoveries) primarily consisted of costs incurred related to Winter Storm Uri in February 2021.

•Restaurant impairment charges primarily related to the long-lived and operating lease assets of 10 underperforming Chili’s restaurants and three underperforming Maggiano’s restaurants.

INCOME TAXES

9 Months Ended

Mar. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Effective income tax rate	5.4	%	11.7	%	4.7	%	0.4	%

The federal statutory tax rate for the periods presented was 21.0%. A reconciliation between the reported Provision for income taxes and the amount computed by applying the statutory federal income tax rate to Income before income taxes is as follows:


	Thirty-Nine Week Period Ended
	March 30, 2022
Income tax expense at statutory rate - 21.0%	$	17.1
FICA tip tax credit	(16.4)
Stock-based compensation excess tax benefits	(0.7)
State income taxes, net of federal benefit	5.0

Other	(1.2)
Provision for income taxes - 4.7%	$	3.8

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

NET INCOME PER SHARE

9 Months Ended

Mar. 30, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Basic net income per share is computed by dividing Net income by the Basic weighted average shares outstanding for the reporting period. Diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the calculation of Diluted net income per share, the Basic weighted average shares outstanding is increased by the dilutive effect of stock options and restricted share awards. Stock options and restricted share awards with an anti-dilutive effect are not included in the Diluted net income per share calculation. Basic weighted average shares outstanding are reconciled to Diluted weighted average shares outstanding as follows:


	Thirteen Week Periods Ended		Thirty-Nine Week Periods Ended
	March 30, 2022	March 24, 2021	March 30, 2022	March 24, 2021
Basic weighted average shares outstanding	44.4	45.5	45.2	45.3
Dilutive stock options	0.1	0.5	0.2	0.3
Dilutive restricted shares	0.6	0.7	0.6	0.6
Total dilutive impact	0.7	1.2	0.8	0.9
Diluted weighted average shares outstanding	45.1	46.7	46.0	46.2

Awards excluded due to anti-dilutive effect	1.1	0.0	0.7	0.7

SEGMENT INFORMATION

9 Months Ended

Mar. 30, 2022

Segment Reporting [Abstract]

Segment Information

Our operating segments are Chili’s and Maggiano’s. The Chili’s segment includes the results of our Company-owned Chili’s restaurants, which are principally located in the United States, within the full-service casual dining segment of the industry. The Chili’s segment also has Company-owned restaurants in Canada, and franchised locations in the United States, 28 countries and two United States territories. The Maggiano’s segment includes the results of our Company-owned Maggiano’s restaurants in the United States as well as the results from our domestic franchise business. The Other segment includes costs related to our restaurant support teams for the Chili’s and Maggiano’s brands, including operations, finance, franchise, marketing, human resources and culinary innovation. The Other segment also includes costs related to the common and shared infrastructure, including accounting, information technology, purchasing, guest relations, legal and restaurant development.

Company sales for each segment include revenues generated by the operation of Company-owned restaurants including gift card redemptions and revenues from our virtual brands. Franchise and other revenues for each operating segment include royalties, gift card breakage, delivery income, Maggiano’s banquet service charge income, digital entertainment revenue, franchise advertising fees, franchise and development fees, gift card equalization and gift card discount costs from third-party gift card sales.

We do not rely on any major customers as a source of sales, and the customers and long-lived assets of our operating segments are predominantly located in the United States. There were no material transactions amongst our operating segments.

Our chief operating decision maker uses Operating income as the measure for assessing performance of our segments. Operating income includes revenues and expenses directly attributable to segment-level results of operations. Restaurant expenses during the periods presented primarily included restaurant rent, supplies, property and equipment maintenance, delivery fees, utilities, credit card processing fees, property taxes, supervision expenses, and worker’s comp and general liability insurance.

The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:


	Thirteen Week Period Ended March 30, 2022
	Chili’s(1)		Maggiano’s		Other		Consolidated
Company sales	$	863.3	$	97.3	$	—	$	960.6
Royalties	7.8		0.1		—		7.9
Franchise fees and other revenues	8.5		3.4		—		11.9
Franchise and other revenues	16.3		3.5		—		19.8
Total revenues	879.6		100.8		—		980.4

Food and beverage costs	245.6		24.7		—		270.3
Restaurant labor	295.0		34.1		—		329.1
Restaurant expenses	215.2		28.7		0.2		244.1
Depreciation and amortization	35.9		3.4		2.9		42.2
General and administrative	9.5		2.3		27.4		39.2
Other (gains) and charges	5.2		0.0		0.9		6.1
Total operating costs and expenses	806.4		93.2		31.4		931.0
Operating income (loss)	73.2		7.6		(31.4)		49.4
Interest expenses	1.2		0.1		9.8		11.1
Other income, net	—		—		(0.4)		(0.4)
Income (loss) before income taxes	$	72.0	$	7.5	$	(40.8)	$	38.7


	Thirteen Week Period Ended March 24, 2021
	Chili’s		Maggiano’s		Other		Consolidated
Company sales	$	749.0	$	64.7	$	—	$	813.7
Royalties	7.7		—		—		7.7
Franchise fees and other revenues	6.3		0.7		—		7.0
Franchise and other revenues	14.0		0.7		—		14.7
Total revenues	763.0		65.4		—		828.4

Food and beverage costs	198.7		15.2		—		213.9
Restaurant labor	248.7		22.1		—		270.8
Restaurant expenses	194.2		21.7		0.2		216.1
Depreciation and amortization	31.0		3.4		3.0		37.4
General and administrative	7.0		1.3		25.4		33.7
Other (gains) and charges	3.1		0.3		0.9		4.3
Total operating costs and expenses	682.7		64.0		29.5		776.2
Operating income (loss)	80.3		1.4		(29.5)		52.2
Interest expenses	1.4		—		12.7		14.1
Other income, net	(0.1)		—		(0.2)		(0.3)
Income (loss) before income taxes	$	79.0	$	1.4	$	(42.0)	$	38.4


	Thirty-Nine Week Period Ended March 30, 2022
	Chili’s(1)		Maggiano’s		Other		Consolidated
Company sales	$	2,428.5	$	296.2	$	—	$	2,724.7
Royalties	25.4		0.3		—		25.7
Franchise fees and other revenues	21.5		10.7		—		32.2
Franchise and other revenues	46.9		11.0		—		57.9
Total revenues	2,475.4		307.2		—		2,782.6

Food and beverage costs	683.8		73.6		—		757.4
Restaurant labor	846.1		103.3		—		949.4
Restaurant expenses	624.8		86.8		0.5		712.1
Depreciation and amortization	104.3		10.2		8.6		123.1
General and administrative	24.7		6.2		77.9		108.8
Other (gains) and charges	10.2		0.2		6.6		17.0
Total operating costs and expenses	2,293.9		280.3		93.6		2,667.8
Operating income (loss)	181.5		26.9		(93.6)		114.8
Interest expenses	4.0		0.3		30.5		34.8
Other income, net	(0.3)		—		(0.9)		(1.2)
Income (loss) before income taxes	$	177.8	$	26.6	$	(123.2)	$	81.2

Segment assets	$	2,120.7	$	227.6	$	110.5	$	2,458.8
Segment goodwill	156.7		38.4		—		195.1
Payments for property and equipment	96.7		6.8		5.5		109.0


	Thirty-Nine Week Period Ended March 24, 2021
	Chili’s		Maggiano’s		Other		Consolidated
Company sales	$	2,107.0	$	181.1	$	—	$	2,288.1
Royalties	21.9		0.1		—		22.0
Franchise fees and other revenues	17.0		2.1		—		19.1
Franchise and other revenues	38.9		2.2		—		41.1
Total revenues	2,145.9		183.3		—		2,329.2

Food and beverage costs	563.2		43.1		—		606.3
Restaurant labor	710.3		64.3		—		774.6
Restaurant expenses	564.6		64.6		0.7		629.9
Depreciation and amortization	92.4		10.4		9.2		112.0
General and administrative	17.8		3.9		72.5		94.2
Other (gains) and charges	11.1		1.2		1.2		13.5
Total operating costs and expenses	1,959.4		187.5		83.6		2,230.5
Operating income (loss)	186.5		(4.2)		(83.6)		98.7
Interest expenses	4.2		0.1		38.8		43.1
Other income, net	(0.4)		—		(0.8)		(1.2)
Income (loss) before income taxes	$	182.7	$	(4.3)	$	(121.6)	$	56.8

Payments for property and equipment	$	56.3	$	1.4	$	4.7	$	62.4

(1)Chili’s segment information for fiscal 2022 includes the results of operations and the fair values of assets related to the 66 restaurants purchased from three former franchisees subsequent to the acquisition dates. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

FAIR VALUE MEASUREMENTS

9 Months Ended

Mar. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is the price that would be received for an asset or paid to transfer a liability, or the exit price, in an orderly transaction between market participants on the measurement date. Fair value measurements are categorized in three levels based on the types of significant inputs used, as follows:


Level 1			Unadjusted quoted prices in active markets for identical assets or liabilities
Level 2			Observable inputs available at measurement date other than quote prices included in Level 1
Level 3			Unobservable inputs that cannot be corroborated by observable market data

Non-Financial Assets Measured on a Non-Recurring Basis

We review the carrying amounts of long-lived property and equipment including finance lease assets, operating lease assets, reacquired franchise rights and transferable liquor licenses annually or when events or circumstances indicate that the fair value may not substantially exceed the carrying amount. We record an impairment charge for the excess of the carrying amount over the fair value. All impairment charges were included in Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited) for the periods presented.

Intangibles, net in the Consolidated Balance Sheets (Unaudited) includes both indefinite-lived intangible assets such as transferable liquor licenses and definite-lived intangible assets such as reacquired franchise rights and trademarks. Intangibles, net included accumulated amortization associated with definite-lived intangible assets at March 30, 2022 and June 30, 2021, of $11.8 million and $9.6 million, respectively.

Definite Lived Assets Impairment

Definite lived assets include property and equipment, including finance lease assets, operating lease assets and reacquired franchise rights. During the thirteen and thirty-nine week periods ended March 30, 2022, no indicators of impairment were identified.

Indefinite Lived Assets Impairment

The fair values of transferable liquor licenses are based on prices in the open market for licenses in the same or similar jurisdictions, and are categorized as Level 2. During the thirteen and thirty-nine week periods ended March 30, 2022 and March 24, 2021, no indicators of impairment were identified.

Goodwill

We review the carrying amounts of goodwill annually or when events or circumstances indicate that the carrying amount may not be recoverable. We may elect to perform a qualitative assessment for our reporting units to determine whether it is more likely than not that the fair value of the reporting unit is greater than its carrying value. If a qualitative assessment is not performed, or if the result of the qualitative assessment indicates a potential impairment, then the fair value of the reporting unit is compared to its carrying value. If the carrying amount is not recoverable, we record an impairment charge for the excess of the carrying amount over the implied fair value of the goodwill.

Related to the qualitative assessment, changes in circumstances existing at the measurement date or at other times in the future, such as declines in our market capitalization, as well as in the market capitalization of other companies in the restaurant industry, declines in sales at our restaurants, and significant adverse changes in the operating environment for the restaurant industry could result in an impairment loss of all or a portion of our goodwill. We performed our annual goodwill impairment analysis in the second quarter of fiscal 2022 using a qualitative approach based on these factors and no indicators of impairment were identified. During the thirteen and thirty-nine week periods ended March 30, 2022, management concluded that no triggering event occurred.

Our ability to operate dining and banquet rooms and generate off-premise sales at our restaurants is critical to avoiding a future triggering event as the impact of the COVID-19 pandemic continues. Management’s judgments about the impact of the pandemic could change as additional developments occur. We will continue to monitor and evaluate our results in future periods to determine if a more detailed assessment is necessary.

Chili’s Restaurant Acquisitions

In the first three quarters of fiscal 2022, we completed the acquisition of 66 Chili’s restaurants from three former franchisees. The preliminary fair value of assets acquired and liabilities assumed for these restaurants utilized Level 3 inputs. The fair values of intangible assets acquired were primarily based on significant inputs not observable in an active market, including estimates of replacement costs, future cash flows, and discount rates. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

Other Financial Instruments

Our financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and long-term debt. The fair values of cash and cash equivalents, accounts receivable and accounts payable approximate their carrying amounts because of the short maturity of these items.

Long-Term Debt

The carrying amount of debt outstanding related to our revolving credit facility approximates fair value as the interest rate on this instrument approximates current market rates (Level 2). The fair values of the 3.875% and 5.000% notes are based on quoted market prices and are considered Level 2 fair value measurements.

The carrying amounts and fair values of the 3.875% notes and 5.000% notes, net of unamortized debt issuance costs and discounts, are as follows:


	March 30, 2022				June 30, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
3.875% notes	$	299.6	$	301.2	$	299.3	$	309.0
5.000% notes	348.0		352.5		347.5		369.3

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

LEASES

9 Months Ended

Mar. 30, 2022

Leases [Abstract]

Leases

We typically lease our restaurant facilities through ground leases (where we lease land only, but construct the building and improvements) or retail leases (where we lease the land/retail space and building). In addition to our restaurant facilities, we also lease our corporate headquarters location and certain equipment.

Lease Amounts Included in the Consolidated Statements of Comprehensive Income (Unaudited)

The components of lease expenses included in the Consolidated Statements of Comprehensive Income (Unaudited) were as follows:


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Operating lease cost	$	44.1	$	41.9	$	128.7	$	125.6
Variable lease cost	13.9		14.6		44.1		43.5
Finance lease amortization	5.9		4.2		17.6		12.4
Finance lease interest	1.3		1.4		4.3		4.3
Short-term lease cost	0.1		0.2		0.4		0.4
Sublease income	(0.9)		(1.0)		(3.3)		(3.2)
Total lease costs, net	$	64.4	$	61.3	$	191.8	$	183.0

Pre-Commencement Leases

As of the end of the third quarter of fiscal 2022, we have 18 pre-commencement leases for new Chili’s locations with undiscounted fixed payments of $25.5 million over the initial term. These leases are expected to commence in the next 12 months and are expected to have an economic lease term of 20 years. These leases will commence when the landlords make the property available to us for new restaurant construction. We will assess the reasonably certain lease term at the lease commencement date.

Significant Changes in Leases during the Period

In the first quarter of fiscal 2022, as part of the Chili’s Mid-Atlantic Region Acquisition, we assumed 11 new real estate operating leases. At March 30, 2022, the balances associated with these new leases in the Consolidated Balance Sheets (Unaudited) include Operating lease assets of $23.1 million, Operating lease liabilities of $0.6 million, and Long-term operating lease liabilities, less current portion of $22.7 million. The leases were recorded net of prepaid rent at the date of acquisition.

In the second quarter of fiscal 2022, as part of the Chili’s Great Lakes Region Acquisition, we assumed 26 new real estate operating leases. At March 30, 2022, the balances associated with these new leases in the Consolidated Balance Sheets (Unaudited) include Operating lease assets of $46.6 million, Operating lease liabilities of $1.6 million, and Long-term operating lease liabilities, less current portion of $45.8 million. The leases were recorded net of purchase price accounting adjustments and prepaid rent at the date of acquisition.

In the third quarter of fiscal 2022, as part of the Chili’s Northwest Region Acquisition, we assumed 3 new real estate operating leases. At March 30, 2022, the balances associated with these new leases in the Consolidated Balance Sheets (Unaudited) include Operating lease assets of $5.5 million, Operating lease liabilities of $0.1 million, and Long-term operating lease liabilities, less current portion of $5.4 million. The leases were recorded net of prepaid rent at the date of acquisition. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

In the third quarter of fiscal 2022, we completed lease modifications related to 25 real estate leases that were previously classified as finance leases. As a result of the modifications, the lease terms are for 20 years and the leases were reassessed as operating leases. At March 30, 2022, the balances associated with these leases in the Consolidated Balance Sheets (Unaudited) include Operating lease assets of $48.3 million, Operating lease liabilities of $1.0 million, and Long-term operating lease liabilities, less current portion of $47.6 million. Also, as a result of these modifications, the finance lease asset and lease liability balances decreased in the Consolidated Balance Sheets (Unaudited) including decreases to Buildings and leasehold improvements of $17.4 million, Other accrued liabilities of $2.8 million and Long-term debt and finance leases, less current installments of $15.0 million.

Restaurant Properties Sale Leaseback Transaction

In the first quarter of fiscal 2022, simultaneous with the Mid-Atlantic Region Acquisition, we completed sale leaseback transactions on six of the acquired restaurants. The properties were sold at their acquisition cost resulting in proceeds of $20.5 million with no gain or loss.

The initial terms of all leases we entered into as part of the sale leaseback transactions are for 15 years, plus renewal options at our discretion. All of the leases were determined to be operating leases. Rent expenses associated with these operating leases are recognized on a straight-line basis over the lease terms under ASC 842. At March 30, 2022, the balances associated with these new leases in the Consolidated Balance Sheets (Unaudited) include Operating lease assets of $17.9 million, Operating lease liabilities of $0.4 million, and Long-term operating lease liabilities, less current portion of $17.6 million.

DEBT

9 Months Ended

Mar. 30, 2022

Debt Disclosure [Abstract]

Debt

Long-term debt consists of the following:


	March 30, 2022		June 30, 2021
Revolving credit facility	$	264.3	$	171.3
5.000% notes	350.0		350.0
3.875% notes	300.0		300.0
Finance lease obligations	97.1		121.3
Total long-term debt and finance leases	1,011.4		942.6
Less: unamortized debt issuance costs and discounts	(2.4)		(3.2)
Total long-term debt, less unamortized debt issuance costs and discounts	1,009.0		939.4
Less: current installments of long-term debt and finance leases(1)	(21.1)		(21.5)
Long-term debt and finance leases, less current installments	$	987.9	$	917.9

(1)Current installments of long-term debt consist of finance leases and are recorded within Other accrued liabilities in the Consolidated Balance Sheets (Unaudited). Refer to Note 11 - Accrued and Other Liabilities for further details.

Revolving Credit Facility

On August 18, 2021, we revised our existing $1.0 billion revolving credit facility to an $800.0 million revolving credit facility to extend the maturity date and provide additional flexibility. In the thirty-nine week period ended March 30, 2022, net borrowings of $93.0 million were drawn on the revolving credit facility. As of March 30, 2022, $535.7 million of credit was available under the new revolving credit facility.

The $800.0 million revolving credit facility matures on August 18, 2026 and bears interest of LIBOR plus an applicable margin of 1.500% to 2.250% and an undrawn commitment fee of 0.250% to 0.350%, both based on a function of our debt-to-cash-flow ratio. As of March 30, 2022, our interest rate was 2.250% consisting of LIBOR of 0.500% plus the applicable margin of 1.750%.

In the thirty-nine week period ended March 30, 2022, we incurred and capitalized $3.1 million of debt issuance costs associated with the new revolver, which are included in Other assets in the Consolidated Balance Sheets (Unaudited).

Financial Covenants

Our debt agreements contain various financial covenants that, among other things, require the maintenance of certain leverage ratios. As of March 30, 2022, we were in compliance with our covenants pursuant to the $800.0 million revolving credit facility and under the terms of the indentures governing our 3.875% notes and 5.000% notes. We expect to remain in compliance with our covenants during the remainder of fiscal 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

ACCRUED AND OTHER LIABILITIES

9 Months Ended

Mar. 30, 2022

Accrued Liabilities and Other Liabilities [Abstract]

Accrued And Other Liabilities Disclosure

Other accrued liabilities consist of the following:


	March 30, 2022		June 30, 2021
Insurance	$	21.7	$	21.7
Current installments of long-term debt and finance leases	21.1		21.5
Property tax	19.0		22.4
Sales tax	18.8		23.2
Interest	13.6		6.9
Utilities and services	9.3		8.4


Other(1)	21.7		13.3
	$	125.2	$	117.4

(1)Other primarily consists of guest deposits for Maggiano’s banquets, state income taxes payable, contingent lease liabilities related to our lease guarantees, rent-related accruals, deferred franchise and development fees, charitable donations and other various accruals. Refer to Note 14 - Contingencies for additional information about our lease guarantees.

Other liabilities consist of the following:


	March 30, 2022		June 30, 2021
Insurance	$	38.6	$	35.0
Deferred franchise and development fees	9.1		10.4
Unrecognized tax benefits	2.7		3.5
Deferred payroll taxes(1)	—		27.2
Other	5.3		5.9
	$	55.7	$	82.0

(1)Deferred payroll taxes consisted of the employer portion of certain payroll related taxes that were deferred as allowed under the CARES Act. The first installment, due on December 31, 2021, was paid during the second quarter of fiscal 2022. The second installment, due on December 31, 2022, is classified within Accrued payroll in the Consolidated Balance Sheets (Unaudited).

SHAREHOLDERS' DEFICIT

9 Months Ended

Mar. 30, 2022

Stockholders' Equity Note [Abstract]

Shareholders' Deficit

The changes in Total shareholders’ deficit during the thirty-nine week periods ended March 30, 2022 and March 24, 2021, respectively, were as follows:


	Thirty-Nine Week Period Ended March 30, 2022
	Common Stock		Additional Paid-In Capital		Accumulated Deficit		Treasury Stock		Accumulated Other Comprehensive Loss		Total
Balances at June 30, 2021	$	7.0	$	685.4	$	(266.1)	$	(724.9)	$	(4.7)	$	(303.3)
Net income	—		—		13.2		—		—		13.2
Other comprehensive loss	—		—		—		—		(0.4)		(0.4)
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		4.3		—		—		—		4.3
Purchases of treasury stock	—		(2.0)		—		(37.6)		—		(39.6)
Issuances of treasury stock	—		(8.3)		—		8.6		—		0.3
Balances at September 29, 2021	$	7.0	$	679.4	$	(252.9)	$	(753.9)	$	(5.1)	$	(325.5)
Net income	—		—		27.6		—		—		27.6
Other comprehensive loss	—		—		—		—		(0.1)		(0.1)
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		5.6		—		—		—		5.6
Purchases of treasury stock	—		0.0		—		(35.1)		—		(35.1)
Issuances of treasury stock	—		(1.3)		—		1.4		—		0.1

Balances at December 29, 2021	$	7.0	$	683.7	$	(225.3)	$	(787.6)	$	(5.2)	$	(327.4)
Net income	—		—		36.6		—		—		36.6
Other comprehensive income	—		—		—		—		0.4		0.4
Dividends	—		—		—		—		—		—
Stock-based compensation	—		5.3		—		—		—		5.3
Purchases of treasury stock	—		—		—		(26.1)		—		(26.1)
Issuances of treasury stock	—		(1.2)		—		1.2		—		—
Balances at March 30, 2022	$	7.0	$	687.8	$	(188.7)	$	(812.5)	$	(4.8)	$	(311.2)


	Thirty-Nine Week Period Ended March 24, 2021
	Common Stock		Additional Paid-In Capital		Accumulated Deficit		Treasury Stock		Accumulated Other Comprehensive Loss		Total
Balances at June 24, 2020	$	7.0	$	669.4	$	(397.5)	$	(751.8)	$	(6.2)	$	(479.1)

Net income	—		—		10.7		—		—		10.7
Other comprehensive income	—		—		—		—		0.3		0.3
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		3.9		—		—		—		3.9
Purchases of treasury stock	—		(1.1)		—		(2.8)		—		(3.9)
Issuances of treasury stock	—		(9.0)		—		12.0		—		3.0
Balances at September 23, 2020	$	7.0	$	663.2	$	(386.8)	$	(742.6)	$	(5.9)	$	(465.1)
Net income	—		—		12.0		—		—		12.0
Other comprehensive income	—		—		—		—		0.5		0.5
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		3.0		—		—		—		3.0
Purchases of treasury stock	—		0.0		—		0.0		—		0.0
Issuances of treasury stock	—		1.2		—		4.3		—		5.5

Balances at December 23, 2020	$	7.0	$	667.4	$	(374.8)	$	(738.3)	$	(5.4)	$	(444.1)
Net income	—		—		33.9		—		—		33.9
Other comprehensive income	—		—		—		—		0.3		0.3
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		4.4		—		—		—		4.4
Purchases of treasury stock	—		(0.1)		—		(0.1)		—		(0.2)
Issuances of treasury stock	—		5.7		—		9.4		—		15.1
Balances at March 24, 2021	$	7.0	$	677.4	$	(340.9)	$	(729.0)	$	(5.1)	$	(390.6)

Share Repurchases

Our share repurchase program is used to return capital to shareholders and to minimize the dilutive impact of stock options and other share-based awards. We evaluate potential share repurchases under our plan based on several factors, including our cash position, share price, operational liquidity, proceeds from divestitures, borrowings and planned investment and financing needs. Repurchased shares are reflected as an increase in Treasury stock within Shareholders’ deficit in the Consolidated Balance Sheets (Unaudited).

In the fourth quarter of fiscal 2020, our share repurchase program was suspended in response to the business downturn caused by the COVID-19 pandemic. In August 2021, our Board of Directors reinstated the share repurchase program, allowing for a total available repurchase authority of $300.0 million. In the thirty-nine week period ended March 30, 2022, we repurchased 2.4 million shares of our common stock for $100.8 million, including 2.3 million shares purchased as part of our share repurchase program and 0.1 million shares purchased from team members to satisfy tax withholding obligations on the vesting of restricted shares. As of March 30, 2022, approximately $204.0 million was available under our share repurchase authorizations.

Stock-based Compensation

The following table presents the restricted share awards granted and related weighted average fair value per share amounts.


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Restricted share awards
Restricted share awards granted	0.4		0.5
Weighted average fair value per share	$	52.89	$	40.49

Dividends

In the fourth quarter of fiscal 2020, our Board of Directors voted to suspend the quarterly cash dividend in response to liquidity needs created by the COVID-19 pandemic. In the thirty-nine week periods ended March 30, 2022 and March 24, 2021, dividends paid were solely related to the accrued dividends for restricted share awards that were granted prior to the suspension and vested in the period. Restricted share award dividends are accrued in Other accrued liabilities for the current portion to vest within 12 months, and Other liabilities for the portion that will vest after one year.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Mar. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Lease Commitments We have, in certain cases, divested brands or sold restaurants to franchisees and have not been released from lease guarantees for the related restaurants. As of March 30, 2022 and June 30, 2021, we have outstanding lease guarantees or are secondarily liable for an estimated $28.7 million and $29.2 million, respectively. These amounts represent the maximum potential liability of rent payments under the leases. These leases have been assigned to the buyers and expire at the end of the respective lease terms, which range from fiscal 2022 through fiscal 2032. We have received notices of default and have been named a party in lawsuits pertaining to some of these leases in circumstances where the current lessee did not pay its rent obligations. In the event of default under a lease by a franchisee or owner of a divested brand, the indemnity and default clauses in our agreements with such third parties and applicable laws govern our ability to pursue and recover amounts we may pay on behalf of such parties. As of March 30, 2022, we have contingent liabilities of $3.2 million for our estimated exposure of the lease defaults related to these lease guarantees. These contingent liabilities are classified within Other accrued liabilities in the Consolidated Balance Sheets (Unaudited). Letters of Credit We provide letters of credit to various insurers to collateralize obligations for outstanding claims. As of March 30, 2022, we had $5.8 million in undrawn standby letters of credit outstanding. All standby letters of credit are renewable within the next 7 months. Cyber Security Litigation In fiscal 2018, we discovered malware at certain Chili’s restaurants that may have resulted in unauthorized access or acquisition of customer payment card data. We settled all claims from payment card companies related to this incident and do not expect material claims in the future. The Company was also named as a defendant in a putative class action lawsuit in the United States District Court for the Middle District of Florida (the “Litigation”) relating to this incident. In the Litigation, plaintiffs assert various claims at the Company’s Chili’s restaurants involving customer payment card information and seek monetary damages in excess of $5.0 million, injunctive and declaratory relief, and attorney’s fees and costs. Briefing of our appeal to the 11th Circuit Court of Appeals seeking to overturn the district court’s class certification orders is complete. Oral argument of the appeal is scheduled for June 8, 2022 in Jacksonville, Florida. We believe we have defenses and intend to continue defending the Litigation. As such, as of March 30, 2022, we have concluded that a loss, or range of loss, from this matter is not determinable, therefore, we have not recorded a liability related to the Litigation. We will continue to evaluate this matter based on new information as it becomes available. Legal Proceedings Evaluating contingencies related to litigation is a process involving judgment on the potential outcome of future events, and the ultimate resolution of litigated claims may differ from our current analysis. Accordingly, we review the adequacy of accruals and disclosures pertaining to litigated matters each quarter in consultation with legal counsel and we assess the probability and range of possible losses associated with contingencies for potential accrual in the Consolidated Financial Statements. We are engaged in various legal proceedings and have certain unresolved claims pending. Liabilities have been established based on our best estimates of our potential liability in certain of these matters. Based upon consultation with legal counsel, management is of the opinion that there are no matters pending or threatened which are expected to have a material adverse effect, individually or in the aggregate, on the consolidated financial condition or results of operations.

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Year	Fiscal Year We have a 52 or 53 week fiscal year ending on the last Wednesday in June. We utilize a 13 week accounting period for quarterly reporting purposes, except in years containing 53 weeks when the fourth quarter contains 14 weeks. Fiscal year 2022 contains 52 weeks and will end on June 29, 2022. Fiscal year 2021 ended on June 30, 2021 and contained 53 weeks.
Use of Estimates	Use of Estimates The preparation of the Consolidated Financial Statements (Unaudited) is in conformity with generally accepted accounting principles in the United States (“GAAP”) and requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements (Unaudited), and the reported amounts of revenues and costs and expenses in the reporting periods. Actual results could differ from those estimates. The information furnished herein reflects all adjustments (consisting only of normal recurring accruals and adjustments) which are, in our opinion, necessary to fairly state the interim operating results, financial position and cash flows for the respective periods. However, these operating results are not necessarily indicative of the results expected for the full fiscal year. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with GAAP, have been omitted pursuant to SEC rules and regulations. The Notes to Consolidated Financial Statements (Unaudited) should be read in conjunction with the Notes to Consolidated Financial Statements contained in our June 30, 2021 Form 10-K. We believe the disclosures are sufficient for interim financial reporting purposes. All amounts in the Notes to Consolidated Financial Statements (Unaudited) are presented in millions unless otherwise specified.
Foreign Currency Translation	Foreign Currency Translation The foreign currency translation adjustment included in Comprehensive income in the Consolidated Statements of Comprehensive Income (Unaudited) represents the unrealized impact of translating the financial statements of our Canadian restaurants from Canadian dollars to United States dollars. This amount is not included in Net income and would only be realized upon disposition of our Canadian restaurants. The related Accumulated other comprehensive loss is presented in the Consolidated Balance Sheets (Unaudited).
Impact of COVID-19 Pandemic	Impact of COVID-19 Pandemic In March 2020, a novel strain of coronavirus (“COVID-19”) was declared a global pandemic and a National Public Health Emergency. The spread of COVID-19 has prompted changes in consumer behavior and social distancing preferences as well as dining room closures and dining room capacity restrictions mandated or encouraged by federal, state and local governments. The number of open dining rooms and the dining room capacity restrictions have fluctuated over the course of the pandemic based on state and local mandates, and has resulted in significant adverse impacts to our guest traffic and sales primarily in fiscal 2021. We have been carefully assessing the effect of COVID-19 on our business as conditions continue to evolve throughout the communities we serve. At this time, the ultimate impact of COVID-19 cannot be reasonably estimated due to the uncertainty about the extent and the duration of the spread of the virus and could lead to further reduced sales, capacity restrictions, restaurant closures, delays in our supply chain or impair our ability to staff accordingly which could adversely impact our financial results.
New Accounting Standards Implemented in Fiscal 2022	New Accounting Standards Implemented in Fiscal 2022 We reviewed all accounting pronouncements that became effective for our fiscal 2022 and determined that either they were not applicable or they did not have a material impact on the Consolidated Financial Statements (Unaudited). We also reviewed all recently issued accounting pronouncements to be adopted in future periods and determined that they are not expected to have a material impact on the Consolidated Financial Statements (Unaudited).

CHILI'S RESTAURANT ACQUISITIONS (Tables)

9 Months Ended

Mar. 30, 2022

Business Combinations [Abstract]

Fair Value of Acquired Assets and Liabilities

The amounts recorded for the fair value of acquired assets and liabilities at the acquisition dates are as follows:


	Mid-Atlantic Region		Great Lakes Region (Preliminary)

Current assets	$	1.4	$	2.1

Property and equipment	46.2		43.9
Operating lease assets(2)	23.6		45.1
Reacquired franchise rights(1)	4.7		4.6
Goodwill(3)	—		6.9

Current liabilities	(1.4)		(0.3)

Finance lease liabilities, less current portion	(3.7)		—
Operating lease liabilities, less current portion(2)	(23.1)		(45.2)

Net assets acquired(4)	$	47.7	$	57.1

(1)Reacquired franchise rights related to the Mid-Atlantic Region acquisition and Great Lakes Region acquisition both have weighted average amortization periods of approximately 15 years.

(2)Refer to Note 9 - Leases for further details.

REVENUE RECOGNITION (Tables)

9 Months Ended

Mar. 30, 2022

Revenue from Contract with Customer [Abstract]

Changes in Deferred Franchise and Development Fees

The following table reflects the changes in deferred franchise and development fees between June 30, 2021 and March 30, 2022:


	Deferred Franchise and Development Fees

Balance as of June 30, 2021	$	11.4
Additions	0.8
Amount recognized for Chili's restaurant acquisitions(1)	(0.8)
Amount recognized to Franchise and other revenues	(1.3)

Balance as of March 30, 2022	$	10.1

Remaining Deferred Franchise and Development Fees to be Recognized


Fiscal Year	Franchise and Development Fees Revenue Recognition
Remainder of 2022	$	0.2
2023	0.9
2024	0.8
2025	0.8
2026	0.8
Thereafter	6.6
	$	10.1

Changes in the Gift Card Liability

The following table reflects the changes in the Gift card liability between June 30, 2021 and March 30, 2022:


	Gift Card Liability

Balance as of June 30, 2021	$	106.4
Gift card sales	107.2
Gift card redemptions recognized to Company sales	(93.0)
Gift card breakage recognized to Franchise and other revenues	(16.5)
Other	0.7
Balance as of March 30, 2022	$	104.8

OTHER GAINS AND CHARGES (Tables)

9 Months Ended

Mar. 30, 2022

Other Gains and Charges [Abstract]

Other Gains And Charges

Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited) consist of the following:


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Restaurant closure charges	$	1.2	$	0.3	$	1.7	$	2.2
Remodel-related costs	0.9		0.9		4.0		1.8
COVID-19 related charges	0.7		0.9		0.2		3.1
Acquisition-related costs, net	0.6		—		1.5		—
Enterprise system implementation costs	0.5		—		1.4		—
Loss from natural disasters, net of (insurance recoveries)	—		1.8		0.8		2.0
Lease contingencies	—		—		2.9		—
Restaurant impairment charges	—		—		—		2.5
Other	2.2		0.4		4.5		1.9
	$	6.1	$	4.3	$	17.0	$	13.5

INCOME TAXES (Tables)

9 Months Ended

Mar. 30, 2022

Income Tax Disclosure [Abstract]

Effective Income Tax Rate Schedule


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Effective income tax rate	5.4	%	11.7	%	4.7	%	0.4	%

Reconciliation Between Reported Provision (Benefit) for Income Taxes and Amount Computed by Statutory Federal Income Tax Rate

A reconciliation between the reported Provision for income taxes and the amount computed by applying the statutory federal income tax rate to Income before income taxes is as follows:


	Thirty-Nine Week Period Ended
	March 30, 2022
Income tax expense at statutory rate - 21.0%	$	17.1
FICA tip tax credit	(16.4)
Stock-based compensation excess tax benefits	(0.7)
State income taxes, net of federal benefit	5.0

Other	(1.2)
Provision for income taxes - 4.7%	$	3.8

NET INCOME PER SHARE (Tables)

9 Months Ended

Mar. 30, 2022

Earnings Per Share [Abstract]

Basic to Diluted Weighted Average Number of Shares Reconciliation

Basic weighted average shares outstanding are reconciled to Diluted weighted average shares outstanding as follows:


	Thirteen Week Periods Ended		Thirty-Nine Week Periods Ended
	March 30, 2022	March 24, 2021	March 30, 2022	March 24, 2021
Basic weighted average shares outstanding	44.4	45.5	45.2	45.3
Dilutive stock options	0.1	0.5	0.2	0.3
Dilutive restricted shares	0.6	0.7	0.6	0.6
Total dilutive impact	0.7	1.2	0.8	0.9
Diluted weighted average shares outstanding	45.1	46.7	46.0	46.2

Awards excluded due to anti-dilutive effect	1.1	0.0	0.7	0.7

SEGMENT INFORMATION (Tables)

9 Months Ended

Mar. 30, 2022

Segment Reporting [Abstract]

Segment Information Tables

The following tables reconcile our segment results to our consolidated results reported in accordance with GAAP:


	Thirteen Week Period Ended March 30, 2022
	Chili’s(1)		Maggiano’s		Other		Consolidated
Company sales	$	863.3	$	97.3	$	—	$	960.6
Royalties	7.8		0.1		—		7.9
Franchise fees and other revenues	8.5		3.4		—		11.9
Franchise and other revenues	16.3		3.5		—		19.8
Total revenues	879.6		100.8		—		980.4

Food and beverage costs	245.6		24.7		—		270.3
Restaurant labor	295.0		34.1		—		329.1
Restaurant expenses	215.2		28.7		0.2		244.1
Depreciation and amortization	35.9		3.4		2.9		42.2
General and administrative	9.5		2.3		27.4		39.2
Other (gains) and charges	5.2		0.0		0.9		6.1
Total operating costs and expenses	806.4		93.2		31.4		931.0
Operating income (loss)	73.2		7.6		(31.4)		49.4
Interest expenses	1.2		0.1		9.8		11.1
Other income, net	—		—		(0.4)		(0.4)
Income (loss) before income taxes	$	72.0	$	7.5	$	(40.8)	$	38.7


	Thirteen Week Period Ended March 24, 2021
	Chili’s		Maggiano’s		Other		Consolidated
Company sales	$	749.0	$	64.7	$	—	$	813.7
Royalties	7.7		—		—		7.7
Franchise fees and other revenues	6.3		0.7		—		7.0
Franchise and other revenues	14.0		0.7		—		14.7
Total revenues	763.0		65.4		—		828.4

Food and beverage costs	198.7		15.2		—		213.9
Restaurant labor	248.7		22.1		—		270.8
Restaurant expenses	194.2		21.7		0.2		216.1
Depreciation and amortization	31.0		3.4		3.0		37.4
General and administrative	7.0		1.3		25.4		33.7
Other (gains) and charges	3.1		0.3		0.9		4.3
Total operating costs and expenses	682.7		64.0		29.5		776.2
Operating income (loss)	80.3		1.4		(29.5)		52.2
Interest expenses	1.4		—		12.7		14.1
Other income, net	(0.1)		—		(0.2)		(0.3)
Income (loss) before income taxes	$	79.0	$	1.4	$	(42.0)	$	38.4


	Thirty-Nine Week Period Ended March 30, 2022
	Chili’s(1)		Maggiano’s		Other		Consolidated
Company sales	$	2,428.5	$	296.2	$	—	$	2,724.7
Royalties	25.4		0.3		—		25.7
Franchise fees and other revenues	21.5		10.7		—		32.2
Franchise and other revenues	46.9		11.0		—		57.9
Total revenues	2,475.4		307.2		—		2,782.6

Food and beverage costs	683.8		73.6		—		757.4
Restaurant labor	846.1		103.3		—		949.4
Restaurant expenses	624.8		86.8		0.5		712.1
Depreciation and amortization	104.3		10.2		8.6		123.1
General and administrative	24.7		6.2		77.9		108.8
Other (gains) and charges	10.2		0.2		6.6		17.0
Total operating costs and expenses	2,293.9		280.3		93.6		2,667.8
Operating income (loss)	181.5		26.9		(93.6)		114.8
Interest expenses	4.0		0.3		30.5		34.8
Other income, net	(0.3)		—		(0.9)		(1.2)
Income (loss) before income taxes	$	177.8	$	26.6	$	(123.2)	$	81.2

Segment assets	$	2,120.7	$	227.6	$	110.5	$	2,458.8
Segment goodwill	156.7		38.4		—		195.1
Payments for property and equipment	96.7		6.8		5.5		109.0


	Thirty-Nine Week Period Ended March 24, 2021
	Chili’s		Maggiano’s		Other		Consolidated
Company sales	$	2,107.0	$	181.1	$	—	$	2,288.1
Royalties	21.9		0.1		—		22.0
Franchise fees and other revenues	17.0		2.1		—		19.1
Franchise and other revenues	38.9		2.2		—		41.1
Total revenues	2,145.9		183.3		—		2,329.2

Food and beverage costs	563.2		43.1		—		606.3
Restaurant labor	710.3		64.3		—		774.6
Restaurant expenses	564.6		64.6		0.7		629.9
Depreciation and amortization	92.4		10.4		9.2		112.0
General and administrative	17.8		3.9		72.5		94.2
Other (gains) and charges	11.1		1.2		1.2		13.5
Total operating costs and expenses	1,959.4		187.5		83.6		2,230.5
Operating income (loss)	186.5		(4.2)		(83.6)		98.7
Interest expenses	4.2		0.1		38.8		43.1
Other income, net	(0.4)		—		(0.8)		(1.2)
Income (loss) before income taxes	$	182.7	$	(4.3)	$	(121.6)	$	56.8

Payments for property and equipment	$	56.3	$	1.4	$	4.7	$	62.4

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Mar. 30, 2022

Fair Value Disclosures [Abstract]

Debt Instruments - Carrying Values and Estimated Fair Values Schedule

The carrying amounts and fair values of the 3.875% notes and 5.000% notes, net of unamortized debt issuance costs and discounts, are as follows:


	March 30, 2022				June 30, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
3.875% notes	$	299.6	$	301.2	$	299.3	$	309.0
5.000% notes	348.0		352.5		347.5		369.3

LEASES (Tables)

9 Months Ended

Mar. 30, 2022

Leases [Abstract]

Lease Expenses Included in the Consolidated Statements of Comprehensive Income

The components of lease expenses included in the Consolidated Statements of Comprehensive Income (Unaudited) were as follows:


	Thirteen Week Periods Ended				Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021		March 30, 2022		March 24, 2021
Operating lease cost	$	44.1	$	41.9	$	128.7	$	125.6
Variable lease cost	13.9		14.6		44.1		43.5
Finance lease amortization	5.9		4.2		17.6		12.4
Finance lease interest	1.3		1.4		4.3		4.3
Short-term lease cost	0.1		0.2		0.4		0.4
Sublease income	(0.9)		(1.0)		(3.3)		(3.2)
Total lease costs, net	$	64.4	$	61.3	$	191.8	$	183.0

DEBT (Tables)

9 Months Ended

Mar. 30, 2022

Debt Disclosure [Abstract]

Long-term Debt Schedule

Long-term debt consists of the following:


	March 30, 2022		June 30, 2021
Revolving credit facility	$	264.3	$	171.3
5.000% notes	350.0		350.0
3.875% notes	300.0		300.0
Finance lease obligations	97.1		121.3
Total long-term debt and finance leases	1,011.4		942.6
Less: unamortized debt issuance costs and discounts	(2.4)		(3.2)
Total long-term debt, less unamortized debt issuance costs and discounts	1,009.0		939.4
Less: current installments of long-term debt and finance leases(1)	(21.1)		(21.5)
Long-term debt and finance leases, less current installments	$	987.9	$	917.9

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

ACCRUED AND OTHER LIABILITIES (Tables)

9 Months Ended

Mar. 30, 2022

Accrued Liabilities and Other Liabilities [Abstract]

Other Accrued Liabilities Schedule

Other accrued liabilities consist of the following:


	March 30, 2022		June 30, 2021
Insurance	$	21.7	$	21.7
Current installments of long-term debt and finance leases	21.1		21.5
Property tax	19.0		22.4
Sales tax	18.8		23.2
Interest	13.6		6.9
Utilities and services	9.3		8.4


Other(1)	21.7		13.3
	$	125.2	$	117.4

Other Liabilities Schedule

Other liabilities consist of the following:


	March 30, 2022		June 30, 2021
Insurance	$	38.6	$	35.0
Deferred franchise and development fees	9.1		10.4
Unrecognized tax benefits	2.7		3.5
Deferred payroll taxes(1)	—		27.2
Other	5.3		5.9
	$	55.7	$	82.0

SHAREHOLDERS' DEFICIT (Tables)

9 Months Ended

Mar. 30, 2022

Stockholders' Equity Note [Abstract]

Changes in Shareholders' Deficit Schedule

The changes in Total shareholders’ deficit during the thirty-nine week periods ended March 30, 2022 and March 24, 2021, respectively, were as follows:


	Thirty-Nine Week Period Ended March 30, 2022
	Common Stock		Additional Paid-In Capital		Accumulated Deficit		Treasury Stock		Accumulated Other Comprehensive Loss		Total
Balances at June 30, 2021	$	7.0	$	685.4	$	(266.1)	$	(724.9)	$	(4.7)	$	(303.3)
Net income	—		—		13.2		—		—		13.2
Other comprehensive loss	—		—		—		—		(0.4)		(0.4)
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		4.3		—		—		—		4.3
Purchases of treasury stock	—		(2.0)		—		(37.6)		—		(39.6)
Issuances of treasury stock	—		(8.3)		—		8.6		—		0.3
Balances at September 29, 2021	$	7.0	$	679.4	$	(252.9)	$	(753.9)	$	(5.1)	$	(325.5)
Net income	—		—		27.6		—		—		27.6
Other comprehensive loss	—		—		—		—		(0.1)		(0.1)
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		5.6		—		—		—		5.6
Purchases of treasury stock	—		0.0		—		(35.1)		—		(35.1)
Issuances of treasury stock	—		(1.3)		—		1.4		—		0.1

Balances at December 29, 2021	$	7.0	$	683.7	$	(225.3)	$	(787.6)	$	(5.2)	$	(327.4)
Net income	—		—		36.6		—		—		36.6
Other comprehensive income	—		—		—		—		0.4		0.4
Dividends	—		—		—		—		—		—
Stock-based compensation	—		5.3		—		—		—		5.3
Purchases of treasury stock	—		—		—		(26.1)		—		(26.1)
Issuances of treasury stock	—		(1.2)		—		1.2		—		—
Balances at March 30, 2022	$	7.0	$	687.8	$	(188.7)	$	(812.5)	$	(4.8)	$	(311.2)


	Thirty-Nine Week Period Ended March 24, 2021
	Common Stock		Additional Paid-In Capital		Accumulated Deficit		Treasury Stock		Accumulated Other Comprehensive Loss		Total
Balances at June 24, 2020	$	7.0	$	669.4	$	(397.5)	$	(751.8)	$	(6.2)	$	(479.1)

Net income	—		—		10.7		—		—		10.7
Other comprehensive income	—		—		—		—		0.3		0.3
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		3.9		—		—		—		3.9
Purchases of treasury stock	—		(1.1)		—		(2.8)		—		(3.9)
Issuances of treasury stock	—		(9.0)		—		12.0		—		3.0
Balances at September 23, 2020	$	7.0	$	663.2	$	(386.8)	$	(742.6)	$	(5.9)	$	(465.1)
Net income	—		—		12.0		—		—		12.0
Other comprehensive income	—		—		—		—		0.5		0.5
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		3.0		—		—		—		3.0
Purchases of treasury stock	—		0.0		—		0.0		—		0.0
Issuances of treasury stock	—		1.2		—		4.3		—		5.5

Balances at December 23, 2020	$	7.0	$	667.4	$	(374.8)	$	(738.3)	$	(5.4)	$	(444.1)
Net income	—		—		33.9		—		—		33.9
Other comprehensive income	—		—		—		—		0.3		0.3
Dividends	—		—		0.0		—		—		0.0
Stock-based compensation	—		4.4		—		—		—		4.4
Purchases of treasury stock	—		(0.1)		—		(0.1)		—		(0.2)
Issuances of treasury stock	—		5.7		—		9.4		—		15.1
Balances at March 24, 2021	$	7.0	$	677.4	$	(340.9)	$	(729.0)	$	(5.1)	$	(390.6)

Stock-based Compensation Schedule

The following table presents the restricted share awards granted and related weighted average fair value per share amounts.


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Restricted share awards
Restricted share awards granted	0.4		0.5
Weighted average fair value per share	$	52.89	$	40.49

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

9 Months Ended

Mar. 30, 2022

Supplemental Cash Flow Information [Abstract]

Cash Paid for Income Taxes and Interest Schedule

Cash paid for income taxes and interest is as follows:


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Income taxes, net of (refunds)	$	(11.6)	$	2.8
Interest, net of amounts capitalized	23.5		30.8

Non-cash Operating, Investing and Financing Activities Schedule

Non-cash operating, investing and financing activities are as follows:


	Thirty-Nine Week Periods Ended
	March 30, 2022		March 24, 2021
Operating lease additions(1)	$	214.7	$	51.4
Finance lease additions	12.6		6.1
Accrued capital expenditures	7.6		4.3
Retirement of fully depreciated assets(2)	120.9		13.1

(2)The thirty-nine week period ended March 30, 2022 included the retirement of fully depreciated assets no longer in use based on a periodic review performed during fiscal 2022.

BASIS OF PRESENTATION (Details)	Mar. 30, 2022 Restaurants Country territories
Franchisor Disclosure [Line Items]
Number of restaurants	1,650
Chili's Restaurants [Member]
Franchisor Disclosure [Line Items]
Number of foreign countries in which entity operates \| Country	28
Number of U.S. territories in which entity operates \| territories	2
Entity Operated Units [Member]
Franchisor Disclosure [Line Items]
Number of restaurants	1,187
Franchised Units [Member]
Franchisor Disclosure [Line Items]
Number of restaurants	463

CHILI'S RESTAURANT ACQUISITIONS (Details)
$ in Millions

9 Months Ended

Oct. 31, 2021

USD ($)

Restaurants

Sep. 02, 2021

USD ($)

Restaurants

Mar. 30, 2022

USD ($)

Restaurants

Feb. 01, 2022

USD ($)

Restaurants

Jun. 30, 2021

USD ($)

Business Acquisition [Line Items]

Number of restaurants | Restaurants

1,650

Goodwill

$ 195.1

$ 188.2

Chili's Restaurants [Member]

Business Acquisition [Line Items]

Goodwill

^[1]

$ 156.7

Mid-Atlantic Region Acquisition [Member] | Chili's Restaurants [Member]

Business Acquisition [Line Items]

Number of restaurants | Restaurants

Purchase price including closing adjustments

$ 47.7

Purchase price excluding closing adjustments

48.0

Current assets

1.4

Property and equipment

46.2

Operating lease assets

^[2]

23.6

Reacquired franchise rights

^[3]

4.7

Goodwill

^[4]

0.0

Current liabilities

(1.4)

Finance lease liabilities, less current portion

(3.7)

Operating lease liabilities, less current portion

^[2]

(23.1)

Net assets acquired

^[5]

47.7

Closing adjustments

$ (0.3)

Great Lakes Region Acquisition | Chili's Restaurants [Member]

Business Acquisition [Line Items]

Number of restaurants | Restaurants

Purchase price excluding closing adjustments

$ 56.0

Current assets

2.1

Property and equipment

43.9

Operating lease assets

^[2]

45.1

Reacquired franchise rights

^[3]

4.6

Goodwill

^[4]

6.9

Current liabilities

(0.3)

Finance lease liabilities, less current portion

0.0

Operating lease liabilities, less current portion

^[2]

(45.2)

Net assets acquired

^[5]

57.1

Closing adjustments

$ 1.1

Chili's restaurant acquisitions [Member] | Chili's Restaurants [Member]

Business Acquisition [Line Items]

Number of restaurants | Restaurants

Weighted average amortization period, reacquired franchise rights

15 years

Northwest Region Acquisition | Chili's Restaurants [Member]

Business Acquisition [Line Items]

Number of restaurants | Restaurants

Purchase price excluding closing adjustments

$ 1.3

[1]	Chili’s segment information for fiscal 2022 includes the results of operations and the fair values of assets related to the 66 restaurants purchased from three former franchisees subsequent to the acquisition dates. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.
[2]	Refer to Note 9 - Leases for further details.
[3]	Reacquired franchise rights related to the Mid-Atlantic Region acquisition and Great Lakes Region acquisition both have weighted average amortization periods of approximately 15 years.
[4]	Goodwill is expected to be deductible for tax purposes. The portion of the purchase price attributable to goodwill represents the benefits expected as a result of the acquisition, including sales and unit growth opportunities, and the benefit of the assembled workforce of the acquired restaurants.
[5]	Net assets acquired at fair value related to the Mid-Atlantic Region acquisition are equal to the total purchase price of $48.0 million, less $0.3 million of closing adjustments. Net assets acquired at fair value related to the Great Lakes Region acquisition are equal to the total purchase price of $56.0 million, plus $1.1 million of closing adjustments.

REVENUE RECOGNITION (Deferred Franchise and Development Fees) (Details)
$ in Millions

9 Months Ended

Mar. 30, 2022

USD ($)

Restaurants

Change in deferred franchise and development fees [Roll Forward]

Number of restaurants | Restaurants

1,650

Chili's restaurant acquisitions [Member] | Chili's Restaurants [Member]

Change in deferred franchise and development fees [Roll Forward]

Number of restaurants | Restaurants

Deferred Franchise and Development Fees [Member]

Change in deferred franchise and development fees [Roll Forward]

Balance as of June 30, 2021

$ 11.4

Additions

0.8

Amount recognized to Franchise and other revenues

(1.3)

Balance as of March 30, 2022

10.1

Deferred Franchise and Development Fees [Member] | Chili's restaurant acquisitions [Member] | Chili's Restaurants [Member]

Change in deferred franchise and development fees [Roll Forward]

Amount recognized for Chili's restaurant acquisitions

$ (0.8)

^[1]

[1]

The remaining deferred franchise and development fee balances associated with the 66 acquired Chili’s restaurants were recognized as of the acquisition dates in Other (gains) and charges in the Consolidated Statements of Comprehensive Income (Unaudited). Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

REVENUE RECOGNITION (Remaining Deferred Franchise and Development Fees to be Recognized) (Details) $ in Millions	Mar. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 10.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 0.2
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-06-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 0.9
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 0.8
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-06-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 0.8
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-06-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 0.8
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-06-25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining deferred franchise and development fees to be recognized	$ 6.6
Remaining deferred franchise and development fees to be recognized, expected timing of satisfaction in years	16 years

REVENUE RECOGNITION (Deferred Gift Card Revenues) (Details) $ in Millions	9 Months Ended
	Mar. 30, 2022 USD ($)
Deferred Gift Card Liability Rollforward [Roll Forward]
Balance as of June 30, 2021	$ 106.4
Balance as of March 30, 2022	104.8
Gift card sales [Member]
Deferred Gift Card Liability Rollforward [Roll Forward]
Increase in Gift card liability	107.2
Gift card redemptions [Member]
Deferred Gift Card Liability Rollforward [Roll Forward]
Gift card redemptions recognized to Company sales	(93.0)
Gift card breakage [Member]
Deferred Gift Card Liability Rollforward [Roll Forward]
Gift card breakage recognized to Franchise and other revenues	(16.5)
Gift card other [Member]
Deferred Gift Card Liability Rollforward [Roll Forward]
Increase in Gift card liability	$ 0.7

OTHER GAINS AND CHARGES (Schedule of Other Gains and Charges) (Details)
$ in Millions

3 Months Ended

9 Months Ended

Mar. 30, 2022

USD ($)

Restaurants

Mar. 24, 2021

USD ($)

Mar. 30, 2022

USD ($)

Restaurants

Mar. 24, 2021

USD ($)

Restaurants

Restructuring Cost and Reserve [Line Items]

Restaurant closure charges

$ 1.2

$ 0.3

$ 1.7

$ 2.2

Remodel-related costs

0.9

4.0

1.8

COVID-19 related charges

0.7

0.9

0.2

3.1

Acquisition-related costs, net

0.6

0.0

1.5

0.0

Enterprise system implementation costs

0.5

0.0

1.4

0.0

Loss from natural disasters, net of (insurance recoveries)

0.0

1.8

0.8

2.0

Lease contingencies

0.0

2.9

0.0

Restaurant impairment charges

0.0

2.5

Other

2.2

0.4

4.5

1.9

Other (gains) and charges

$ 6.1

4.3

$ 17.0

13.5

Number of restaurants | Restaurants

1,650

Chili's Restaurants [Member]

Restructuring Cost and Reserve [Line Items]

Other (gains) and charges

$ 5.2

^[1]

3.1

$ 10.2

^[1]

$ 11.1

Number of underperforming restaurants | Restaurants

Maggiano's Restaurants [Member]

Restructuring Cost and Reserve [Line Items]

Other (gains) and charges

$ 0.0

$ 0.3

$ 0.2

$ 1.2

Number of underperforming restaurants | Restaurants

Chili's restaurant acquisitions [Member] | Chili's Restaurants [Member]

Restructuring Cost and Reserve [Line Items]

Number of restaurants | Restaurants

[1]	Chili’s segment information for fiscal 2022 includes the results of operations and the fair values of assets related to the 66 restaurants purchased from three former franchisees subsequent to the acquisition dates. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

INCOME TAXES (Effective and Statutory Tax Rates) (Details)	3 Months Ended		9 Months Ended
	Mar. 30, 2022 Rate	Mar. 24, 2021 Rate	Mar. 30, 2022 Rate	Mar. 24, 2021 Rate
Income Tax Disclosure [Abstract]
Effective income tax rate	5.40%	11.70%	4.70%	0.40%
Federal statutory tax rate			21.00%	21.00%

INCOME TAXES (Reconciliation Between Reported and Computed by Statutory Federal Income Tax Rate) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021	Mar. 30, 2022	Mar. 24, 2021
Income Tax Disclosure [Abstract]
Income tax expense at statutory rate - 21.0%			$ 17.1
FICA tip tax credit			(16.4)
Stock-based compensation excess tax benefits			(0.7)
State income taxes, net of federal benefit			5.0
Other			(1.2)
Provision for income taxes	$ 2.1	$ 4.5	$ 3.8	$ 0.2

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

NET INCOME PER SHARE (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
NET INCOME PER SHARE (Details) - shares shares in Millions	Mar. 30, 2022	Mar. 24, 2021	Mar. 30, 2022	Mar. 24, 2021
Reconciliation of Weighted Average Shares Outstanding [Line Items]
Basic weighted average shares outstanding	44.4	45.5	45.2	45.3
Total dilutive impact	0.7	1.2	0.8	0.9
Diluted weighted average shares outstanding	45.1	46.7	46.0	46.2
Awards excluded due to anti-dilutive effect	1.1	0.0	0.7	0.7
Stock Options [Member]
Reconciliation of Weighted Average Shares Outstanding [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0.1	0.5	0.2	0.3
Restricted Share Award [Member]
Reconciliation of Weighted Average Shares Outstanding [Line Items]
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0.6	0.7	0.6	0.6

SEGMENT INFORMATION (Schedule of Segment Reporting) (Details)
$ in Millions

3 Months Ended

9 Months Ended

Mar. 30, 2022

USD ($)

Restaurants

Country

territories

Mar. 24, 2021

USD ($)

Mar. 30, 2022

USD ($)

Restaurants

Country

territories

Mar. 24, 2021

USD ($)

Jun. 30, 2021

USD ($)

Segment Reporting Information [Line Items]

Segment Information, disclosure of major customers

We do not rely on any major customers as a source of sales,

Total revenues

$ 980.4

$ 828.4

$ 2,782.6

$ 2,329.2

Food and beverage costs

270.3

213.9

757.4

606.3

Restaurant labor

329.1

270.8

949.4

774.6

Restaurant expenses

244.1

216.1

712.1

629.9

Depreciation and amortization

42.2

37.4

123.1

112.0

General and administrative

39.2

33.7

108.8

94.2

Other (gains) and charges

6.1

4.3

17.0

13.5

Total operating costs and expenses

931.0

776.2

2,667.8

2,230.5

Operating income (loss)

49.4

52.2

114.8

98.7

Interest expenses

11.1

14.1

34.8

43.1

Other income, net

(0.4)

(0.3)

(1.2)

Income before income taxes

38.7

38.4

81.2

56.8

Segment assets

2,458.8

$ 2,274.9

Segment goodwill

$ 195.1

195.1

$ 188.2

Payments for property and equipment

$ 109.0

62.4

Number of restaurants | Restaurants

1,650

Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Number of foreign countries in which entity operates | Country

Number of U.S. territories in which entity operates | territories

Total revenues

$ 879.6

^[1]

763.0

$ 2,475.4

^[1]

2,145.9

Food and beverage costs

245.6

^[1]

198.7

683.8

^[1]

563.2

Restaurant labor

295.0

^[1]

248.7

846.1

^[1]

710.3

Restaurant expenses

215.2

^[1]

194.2

624.8

^[1]

564.6

Depreciation and amortization

35.9

^[1]

31.0

104.3

^[1]

92.4

General and administrative

9.5

^[1]

7.0

24.7

^[1]

17.8

Other (gains) and charges

5.2

^[1]

3.1

10.2

^[1]

11.1

Total operating costs and expenses

806.4

^[1]

682.7

2,293.9

^[1]

1,959.4

Operating income (loss)

73.2

^[1]

80.3

181.5

^[1]

186.5

Interest expenses

1.2

^[1]

1.4

4.0

^[1]

4.2

Other income, net

0.0

^[1]

(0.1)

(0.3)

^[1]

(0.4)

Income before income taxes

72.0

^[1]

79.0

177.8

^[1]

182.7

Segment assets

^[1]

2,120.7

Segment goodwill

^[1]

156.7

Payments for property and equipment

96.7

^[1]

56.3

Maggiano's Restaurants [Member]

Segment Reporting Information [Line Items]

Total revenues

100.8

65.4

307.2

183.3

Food and beverage costs

24.7

15.2

73.6

43.1

Restaurant labor

34.1

22.1

103.3

64.3

Restaurant expenses

28.7

21.7

86.8

64.6

Depreciation and amortization

3.4

10.2

10.4

General and administrative

2.3

1.3

6.2

3.9

Other (gains) and charges

0.0

0.3

0.2

1.2

Total operating costs and expenses

93.2

64.0

280.3

187.5

Operating income (loss)

7.6

1.4

26.9

(4.2)

Interest expenses

0.1

0.0

0.3

0.1

Other income, net

0.0

Income before income taxes

7.5

1.4

26.6

(4.3)

Segment assets

227.6

Segment goodwill

38.4

Payments for property and equipment

6.8

1.4

Corporate and Other [Member]

Segment Reporting Information [Line Items]

Total revenues

0.0

Food and beverage costs

0.0

Restaurant labor

0.0

Restaurant expenses

0.2

0.5

0.7

Depreciation and amortization

2.9

3.0

8.6

9.2

General and administrative

27.4

25.4

77.9

72.5

Other (gains) and charges

0.9

6.6

1.2

Total operating costs and expenses

31.4

29.5

93.6

83.6

Operating income (loss)

(31.4)

(29.5)

(93.6)

(83.6)

Interest expenses

9.8

12.7

30.5

38.8

Other income, net

(0.4)

(0.2)

(0.9)

(0.8)

Income before income taxes

(40.8)

(42.0)

(123.2)

(121.6)

Segment assets

110.5

Segment goodwill

0.0

Payments for property and equipment

5.5

4.7

Company sales [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

960.6

813.7

2,724.7

2,288.1

Company sales [Member] | Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

863.3

^[1]

749.0

2,428.5

^[1]

2,107.0

Company sales [Member] | Maggiano's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

97.3

64.7

296.2

181.1

Company sales [Member] | Corporate and Other [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

0.0

Royalties [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

7.9

7.7

25.7

22.0

Royalties [Member] | Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

7.8

^[1]

7.7

25.4

^[1]

21.9

Royalties [Member] | Maggiano's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

0.1

0.0

0.3

0.1

Royalties [Member] | Corporate and Other [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

0.0

Franchise fees and other revenues [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

11.9

7.0

32.2

19.1

Franchise fees and other revenues [Member] | Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

8.5

^[1]

6.3

21.5

^[1]

17.0

Franchise fees and other revenues [Member] | Maggiano's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

3.4

0.7

10.7

2.1

Franchise fees and other revenues [Member] | Corporate and Other [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

0.0

Franchise and other revenues [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

19.8

14.7

57.9

41.1

Franchise and other revenues [Member] | Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

16.3

^[1]

14.0

46.9

^[1]

38.9

Franchise and other revenues [Member] | Maggiano's Restaurants [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

3.5

0.7

11.0

2.2

Franchise and other revenues [Member] | Corporate and Other [Member]

Segment Reporting Information [Line Items]

Revenue from contract with customer, excluding assessed tax

$ 0.0

Chili's restaurant acquisitions [Member] | Chili's Restaurants [Member]

Segment Reporting Information [Line Items]

Number of restaurants | Restaurants

[1]	Chili’s segment information for fiscal 2022 includes the results of operations and the fair values of assets related to the 66 restaurants purchased from three former franchisees subsequent to the acquisition dates. Refer to Note 2 - Chili’s Restaurant Acquisitions for further details.

FAIR VALUE MEASUREMENTS (Non-Financial Assets Measured on a Non-Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021	Mar. 30, 2022	Mar. 24, 2021	Jun. 30, 2021
Additional Fair Value Elements [Abstract]
Accumulated amortization associated with definite-lived intangible assets,	$ 11.8		$ 11.8		$ 9.6
Schedule of Impairments [Line Items]
Impairment of goodwill			0.0	$ 0.0
Restaurant impairment charges	$ 0.0	$ 0.0	0.0	2.5
Liquor Licenses [Member]
Schedule of Impairments [Line Items]
Impairment of liquor licenses			$ 0.0	$ 0.0

FAIR VALUE MEASUREMENTS Chili's Restaurant Acquisitions (Details)	Mar. 30, 2022 Restaurants
Fair Value Disclosure, Acquisition [Line Items]
Number of restaurants	1,650
Chili's restaurant acquisitions [Member] \| Chili's Restaurants [Member]
Fair Value Disclosure, Acquisition [Line Items]
Number of restaurants	66

FAIR VALUE MEASUREMENTS (Schedule of Carrying and Fair Values of Financial Instruments) (Details) - USD ($) $ in Millions	Mar. 30, 2022	Jun. 30, 2021
3.875% notes [Member]
Fair Value Disclosure, Acquisition [Line Items]
Notes, stated percentage interest rate	3.875%
Carrying value of notes	$ 299.6	$ 299.3
Fair value of notes	$ 301.2	309.0
5.000% notes [Member]
Fair Value Disclosure, Acquisition [Line Items]
Notes, stated percentage interest rate	5.00%
Carrying value of notes	$ 348.0	347.5
Fair value of notes	$ 352.5	$ 369.3

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LEASES (Disclosure of Lease Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021	Mar. 30, 2022	Mar. 24, 2021
Leases [Abstract]
Operating lease cost	$ 44.1	$ 41.9	$ 128.7	$ 125.6
Variable lease cost	13.9	14.6	44.1	43.5
Finance lease amortization	5.9	4.2	17.6	12.4
Finance lease interest	1.3	1.4	4.3	4.3
Short-term lease cost	0.1	0.2	0.4	0.4
Sublease income	(0.9)	(1.0)	(3.3)	(3.2)
Total lease costs, net	$ 64.4	$ 61.3	$ 191.8	$ 183.0

LEASES (Pre-Commencement Leases) (Details) - Chili's Restaurants [Member] $ in Millions	3 Months Ended
	Mar. 30, 2022 USD ($) Leases
Lessee, Lease, Description [Line Items]
Number of Operating Leases, Pre-Commencement \| Leases	18
Operating Lease, Undiscounted Fixed Lease Payments, Pre-Commencement \| $	$ 25.5
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	20 years

LEASES (Significant Changes in Leases in the Period) (Details) $ in Millions	3 Months Ended
	Mar. 30, 2022 USD ($)	Mar. 01, 2022 Leases	Feb. 01, 2022 Leases	Oct. 31, 2021 Leases	Sep. 02, 2021 Leases	Jun. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 1,152.9					$ 1,007.4
Operating lease liabilities	113.5					97.7
Long-term operating lease liabilities, less current portion	1,143.3					$ 1,006.7
Chili's Restaurants [Member] \| Lease Modification
Lessee, Lease, Description [Line Items]
Number of properties leased under operating leases \| Leases		25
Term of initial lease, years		20 years
Operating lease assets	48.3
Operating lease liabilities	1.0
Long-term operating lease liabilities, less current portion	47.6
Decrease in finance lease assets, buildings and leasehold improvements	17.4
Decrease in finance lease liability, current portion	2.8
Decrease in finance lease liability, non-current	15.0
Chili's Restaurants [Member] \| Mid-Atlantic Region Acquisition [Member]
Lessee, Lease, Description [Line Items]
Number of properties leased under operating leases \| Leases					11
Operating lease assets	23.1
Operating lease liabilities	0.6
Long-term operating lease liabilities, less current portion	22.7
Chili's Restaurants [Member] \| Great Lakes Region Acquisition
Lessee, Lease, Description [Line Items]
Number of properties leased under operating leases \| Leases				26
Operating lease assets	46.6
Operating lease liabilities	1.6
Long-term operating lease liabilities, less current portion	45.8
Chili's Restaurants [Member] \| Northwest Region Acquisition
Lessee, Lease, Description [Line Items]
Number of properties leased under operating leases \| Leases			3
Operating lease assets	5.5
Operating lease liabilities	0.1
Long-term operating lease liabilities, less current portion	$ 5.4

LEASES (Restaurant Properties Sale Leaseback Transaction) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 29, 2021 USD ($)	Mar. 30, 2022 USD ($)	Mar. 24, 2021 USD ($)	Sep. 02, 2021 Leases Location	Jun. 30, 2021 USD ($)
Sale Leaseback Transaction [Line Items]
Proceeds from sale leaseback transactions, net of related expenses		$ 20.5	$ 0.0
Operating lease assets		1,152.9			$ 1,007.4
Operating lease liabilities		113.5			97.7
Long-term operating lease liabilities, less current portion		1,143.3			$ 1,006.7
Chili's Restaurants [Member] \| Mid-Atlantic Region Acquisition [Member]
Sale Leaseback Transaction [Line Items]
Number of properties leased under operating leases \| Leases				11
Operating lease assets		23.1
Operating lease liabilities		0.6
Long-term operating lease liabilities, less current portion		22.7
Sale Leaseback [Member] \| Chili's Restaurants [Member]
Sale Leaseback Transaction [Line Items]
Number of properties leased under operating leases \| Location				6
Term of initial lease, years				15 years
Operating lease assets		17.9
Operating lease liabilities		0.4
Long-term operating lease liabilities, less current portion		$ 17.6
Sale Leaseback [Member] \| Chili's Restaurants [Member] \| Mid-Atlantic Region Acquisition [Member]
Sale Leaseback Transaction [Line Items]
Proceeds from sale leaseback transactions, net of related expenses	$ 20.5

DEBT (Schedule of Long-Term Debt) (Details) - USD ($)
$ in Millions

Mar. 30, 2022

Jun. 30, 2021

Debt Instrument [Line Items]

Finance lease obligations

$ 97.1

$ 121.3

Total long-term debt and finance leases

1,011.4

942.6

Less: unamortized debt issuance costs and discounts

(2.4)

(3.2)

Total long-term debt, less unamortized debt issuance costs and discounts

1,009.0

939.4

Less: current installments of long-term debt and finance leases

^[1]

(21.1)

(21.5)

Long-term debt and finance leases, less current installments

987.9

917.9

5.000% notes [Member]

Debt Instrument [Line Items]

Senior notes

350.0

3.875% notes [Member]

Debt Instrument [Line Items]

Senior notes

300.0

$800.0M Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Revolving credit facility

$ 264.3

$1B Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Revolving credit facility

$ 171.3

[1]	Current installments of long-term debt consist of finance leases and are recorded within Other accrued liabilities in the Consolidated Balance Sheets (Unaudited). Refer to Note 11 - Accrued and Other Liabilities for further details.

DEBT (Additional Information) (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 30, 2022	Aug. 18, 2021
$1B Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,000.0
$800.0M Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 800.0
Net borrowings	93.0
Revolving credit facility, remaining borrowing capacity	$ 535.7
Revolving credit facility, expiration date	Aug. 18, 2026
Basis spread on variable rate	1.75%
Revolving credit facility, interest rate at period end	2.25%
Debt issuance costs	$ 3.1
Revolving credit facility, covenant compliance	we were in compliance with our covenants pursuant to the $800.0 million revolving credit facility and under the terms of the indentures governing our 3.875% notes and 5.000% notes
Maximum [Member] \| $800.0M Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%
Undrawn commitment fee spread	0.35%
Minimum [Member] \| $800.0M Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Undrawn commitment fee spread	0.25%
London Interbank Offered Rate (LIBOR) [Member] \| $800.0M Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, variable rate basis	LIBOR
Revolving credit facility, interest rate during period	0.50%

ACCRUED AND OTHER LIABILITIES (Schedule of Other Accrued Liabilities) (Details) - USD ($)
$ in Millions

Mar. 30, 2022

Jun. 30, 2021

Other accrued liabilities [Line Items]

Insurance

$ 21.7

Current installments of long-term debt and finance leases

21.1

21.5

Property tax

19.0

22.4

Sales tax

18.8

23.2

Interest

13.6

6.9

Utilities and services

9.3

8.4

Other

^[1]

21.7

13.3

Other accrued liabilities

$ 125.2

$ 117.4

[1]

Other primarily consists of guest deposits for Maggiano’s banquets, state income taxes payable, contingent lease liabilities related to our lease guarantees, rent-related accruals, deferred franchise and development fees, charitable donations and other various accruals. Refer to Note 14 - Contingencies for additional information about our lease guarantees.

ACCRUED AND OTHER LIABILITIES (Schedule of Other Liabilities) (Details) - USD ($)
$ in Millions

Mar. 30, 2022

Jun. 30, 2021

Other liabilities [Line Items]

Insurance

$ 38.6

$ 35.0

Deferred franchise and development fees

9.1

10.4

Unrecognized tax benefits

2.7

3.5

Deferred payroll taxes

0.0

27.2

^[1]

Other

5.3

5.9

Other liabilities

$ 55.7

$ 82.0

[1]

Deferred payroll taxes consisted of the employer portion of certain payroll related taxes that were deferred as allowed under the CARES Act. The first installment, due on December 31, 2021, was paid during the second quarter of fiscal 2022. The second installment, due on December 31, 2022, is classified within Accrued payroll in the Consolidated Balance Sheets (Unaudited).

SHAREHOLDERS' DEFICIT (Changes in Shareholders' Deficit) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Mar. 30, 2022	Dec. 29, 2021	Sep. 29, 2021	Mar. 24, 2021	Dec. 23, 2020	Sep. 23, 2020	Mar. 30, 2022	Mar. 24, 2021
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	$ (327.4)	$ (325.5)	$ (303.3)	$ (444.1)	$ (465.1)	$ (479.1)	$ (303.3)	$ (479.1)
Net income	36.6	27.6	13.2	33.9	12.0	10.7	77.4	56.6
Other comprehensive income (loss)	0.4	(0.1)	(0.4)	0.3	0.5	0.3	(0.1)	1.1
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	5.3	5.6	4.3	4.4	3.0	3.9
Purchases of treasury stock	(26.1)	(35.1)	(39.6)	(0.2)	0.0	(3.9)
Issuances of treasury stock	0.0	0.1	0.3	15.1	5.5	3.0
Ending balance	(311.2)	(327.4)	(325.5)	(390.6)	(444.1)	(465.1)	(311.2)	(390.6)
Common Stock [Member]
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	7.0	7.0	7.0	7.0	7.0	7.0	7.0	7.0
Net income	0.0	0.0	0.0	0.0	0.0	0.0
Other comprehensive income (loss)	0.0	0.0	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	0.0	0.0	0.0	0.0	0.0	0.0
Purchases of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Issuances of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Ending balance	7.0	7.0	7.0	7.0	7.0	7.0	7.0	7.0
Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	683.7	679.4	685.4	667.4	663.2	669.4	685.4	669.4
Net income	0.0	0.0	0.0	0.0	0.0	0.0
Other comprehensive income (loss)	0.0	0.0	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	5.3	5.6	4.3	4.4	3.0	3.9
Purchases of treasury stock	0.0	0.0	(2.0)	(0.1)	0.0	(1.1)
Issuances of treasury stock	(1.2)	(1.3)	(8.3)	5.7	1.2	(9.0)
Ending balance	687.8	683.7	679.4	677.4	667.4	663.2	687.8	677.4
Accumulated Deficit [Member]
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	(225.3)	(252.9)	(266.1)	(374.8)	(386.8)	(397.5)	(266.1)	(397.5)
Net income	36.6	27.6	13.2	33.9	12.0	10.7
Other comprehensive income (loss)	0.0	0.0	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	0.0	0.0	0.0	0.0	0.0	0.0
Purchases of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Issuances of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Ending balance	(188.7)	(225.3)	(252.9)	(340.9)	(374.8)	(386.8)	(188.7)	(340.9)
Treasury Stock [Member]
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	(787.6)	(753.9)	(724.9)	(738.3)	(742.6)	(751.8)	(724.9)	(751.8)
Net income	0.0	0.0	0.0	0.0	0.0	0.0
Other comprehensive income (loss)	0.0	0.0	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	0.0	0.0	0.0	0.0	0.0	0.0
Purchases of treasury stock	(26.1)	(35.1)	(37.6)	(0.1)	0.0	(2.8)
Issuances of treasury stock	1.2	1.4	8.6	9.4	4.3	12.0
Ending balance	(812.5)	(787.6)	(753.9)	(729.0)	(738.3)	(742.6)	(812.5)	(729.0)
Accumulated Other Comprehensive Loss [Member]
Increase (Decrease) in Stockholders' Deficit [Roll Forward]
Beginning balance	(5.2)	(5.1)	(4.7)	(5.4)	(5.9)	(6.2)	(4.7)	(6.2)
Net income	0.0	0.0	0.0	0.0	0.0	0.0
Other comprehensive income (loss)	0.4	(0.1)	(0.4)	0.3	0.5	0.3
Dividends	0.0	0.0	0.0	0.0	0.0	0.0
Stock-based compensation	0.0	0.0	0.0	0.0	0.0	0.0
Purchases of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Issuances of treasury stock	0.0	0.0	0.0	0.0	0.0	0.0
Ending balance	$ (4.8)	$ (5.2)	$ (5.1)	$ (5.1)	$ (5.4)	$ (5.9)	$ (4.8)	$ (5.1)

SHAREHOLDERS' DEFICIT (Share Repurchases) (Details) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021	Aug. 16, 2021
Remaining amount of share repurchase authorizations available	$ 204.0		$ 300.0
Number of shares repurchased	2.4
Purchases of treasury stock	$ 100.8	$ 4.1
Open Market Purchase [Member]
Number of shares repurchased	2.3
Withheld from Employees [Member]
Number of shares repurchased	0.1

SHAREHOLDERS' DEFICIT (Stock-based Compensation) (Details) - $ / shares shares in Millions	9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share awards granted	0.4	0.5
Weighted average fair value per share	$ 52.89	$ 40.49

SUPPLEMENTAL CASH FLOW INFORMATION (Cash Paid for Income Taxes and Interest) (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 30, 2022	Mar. 24, 2021
Income taxes, net of (refunds)	$ (11.6)	$ 2.8
Interest, net of amounts capitalized	$ 23.5	$ 30.8

SUPPLEMENTAL CASH FLOW INFORMATION (Non-Cash Operating, Investing and Financing Activities) (Details)
$ in Millions

9 Months Ended

Mar. 30, 2022

USD ($)

Restaurants

Mar. 24, 2021

USD ($)

Other Significant Noncash Transactions [Line Items]

Operating lease additions

$ 214.7

^[1]

$ 51.4

Finance lease additions

12.6

6.1

Accrued capital expenditures

7.6

4.3

Retirement of fully depreciated assets

$ 120.9

^[2]

$ 13.1

Number of restaurants | Restaurants

1,650

Chili's Restaurants [Member] | Chili's restaurant acquisitions [Member]

Other Significant Noncash Transactions [Line Items]

Number of restaurants | Restaurants

[1]	The thirty-nine week period ended March 30, 2022 primarily included operating lease additions associated with the 66 restaurants purchased from three former franchisees and the modifications of 25 leases. Refer to Note 2 - Chili’s Restaurant Acquisitions and to Note 9 - Leases for further details.
[2]	The thirty-nine week period ended March 30, 2022 included the retirement of fully depreciated assets no longer in use based on a periodic review performed during fiscal 2022.

CONTINGENCIES (Lease Commitments) (Details) - Lease Guarantees And Secondary Obligations [Member] - USD ($) $ in Millions	Mar. 30, 2022	Jun. 30, 2021
Guarantor Obligations [Line Items]
Contingent liability for lease guarantees	$ 3.2
Maximum [Member]
Guarantor Obligations [Line Items]
Loss contingency, estimate of possible loss	$ 28.7	$ 29.2

CONTINGENCIES (Additional Information) (Details) $ in Millions	Mar. 30, 2022 USD ($) LegalMatter
Loss Contingencies [Line Items]
Amount of undrawn standby letters of credit outstanding	$ 5.8
Loss contingency, pending claims, number \| LegalMatter	0
Cyber security incident [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 5.0