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2014-12-29 2015-03-29 0000901491 pzza:DomesticCompanyOwnedRestaurantsMember us-gaap:NorthAmericaMember 2013-12-30 2014-03-30 0000901491 2015-03-29 0000901491 pzza:PerrinVsPapaJohnsMember us-gaap:PendingLitigationMember 2015-03-29 0000901491 2014-10-31 2014-10-31 0000901491 us-gaap:CorporateJointVentureMember 2014-12-29 2015-03-29 0000901491 us-gaap:CorporateJointVentureMember 2013-12-30 2014-03-30 0000901491 us-gaap:SalesMember 2015-03-29 0000901491 2015-04-28 0000901491 2014-12-29 2015-03-29 pzza:restaurant xbrli:pure iso4217:USD xbrli:shares pzza:item pzza:employee iso4217:USD pzza:entity xbrli:shares false --12-27 Q1 2015 2015-03-29 10-Q 0000901491 39783131 Yes Large Accelerated Filer PAPA JOHNS INTERNATIONAL INC PZZA 0 1848000 3010000 100000000 3900 2 15000 5 34598000 37100000 28800 17850000 18928000 5779000 6498000 22879000 24610000 <div> <div style="margin-left:0pt;margin-right:0pt;">                                                                                                                                                                                                                      <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;"> <tr> <td valign="bottom" style="width:23.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Joint Venture </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:22.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Redemption Feature </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:31.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Location within the Condensed Consolidated Balance Sheets </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Recorded Value </td> </tr> <tr> <td valign="top" style="width:23.24%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:23.24%;background-color: #CCEEFF;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:22.48%;background-color: #CCEEFF;padding:0pt;"> Redeemable </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:31.00%;background-color: #CCEEFF;padding:0pt;"> Temporary equity </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:16.58%;background-color: #CCEEFF;padding:0pt;"> Carrying value </td> </tr> <tr> <td valign="top" style="width:23.24%;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;padding:0pt;"> Redeemable </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;padding:0pt;"> Temporary equity </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;padding:0pt;"> Redemption value </td> </tr> <tr> <td valign="top" style="width:23.24%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:22.48%;background-color: #CCEEFF;padding:0pt;"> No redemption feature </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:31.00%;background-color: #CCEEFF;padding:0pt;"> Permanent equity </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:16.58%;background-color: #CCEEFF;padding:0pt;"> Carrying value </td> </tr> <tr> <td valign="top" style="width:23.24%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;padding:0pt;"> No redemption feature </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;padding:0pt;"> Permanent equity </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;padding:0pt;"> Carrying value </td> </tr> </table></div>   </div> </div> <div> <div style="margin-left:0pt;margin-right:0pt;">                                                                                                                                                                                                                      <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:25.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Number of Restaurants </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Restaurant Locations </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Papa John’s Ownership </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Noncontrolling Interest Ownership </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> March 29, 2015 </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Texas </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>56  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Maryland and Virginia </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Minnesota </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Colorado </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="bottom" style="width:25.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> March 30, 2014 </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Texas </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Maryland and Virginia </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Minnesota </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Colorado </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> </table></div>   </div> </div> <div> <div style="margin-left:0pt;margin-right:0pt;">     The income before income taxes attributable to these joint ventures for the three months ended March 29, 2015 and March 30, 2014 was as follows (in thousands):                                                                                                                                                                                                                   <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 73.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;"> March 29, </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;"> March 30, </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;background-color: #CCEEFF;padding:0pt;"> Papa John’s International, Inc. </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,010  </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,848  </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;padding:0pt;"> Noncontrolling interests </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,003  </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,230  </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;background-color: #CCEEFF;padding:0pt;"> Total income before income taxes </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,013  </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,078  </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div> </div>

38832000

35009000

56047000

56187000

58293000

55521000

346871000

671000

-982000

147912000

148981000

16256000

16770000

102000

112000

512803000

501977000

156008000

149486000

13670000

14388000

20122000

23524000

718000

3402000

18238000

18806000

0.125

0.14

0.01

43331000

43523000

433000

435000

19263000

20582000

20493000

22585000

128924000

45156000

125126000

47504000

369375000

151803000

143593000

394639000

149736000

155032000

0.017500

0.007500

6170000

5055000

4257000

3906000

8248000

7576000

3914000

9000000

22188000

20508000

9164000

10041000

0.0136

0.0142

477000

P12M

50000000

75000000

0.46

0.56

0.45

0.55

-42000

-76000

4900000

5091000

4900000

5091000

144000

265000

36966000

41933000

82007000

81421000

1230000

2003000

31410000

3078000

-12461000

-651000

10431000

13285000

732000

19484000

590000

36436000

5013000

-17205000

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11800000

18480000

1344000

22319000

443000

10869000

92000

12197000

146000

9527000

3628000

-1311000

-3828000

854000

1312000

-6958000

-2291000

3268000

167000

403000

-74000

-5899000

3210000

-1043000

204000

303000

795000

154000

-1919000

-2755000

918000

683000

-592000

249000

-1209000

394000

717000

1300000

376000

1500000

1470000

27394000

26354000

47583000

53658000

405533000

399878000

512803000

501977000

106762000

100334000

230500000

231000000

0.0150

0.0210

300000000

400000000

147700000

0.002500

0.001500

230451000

231000000

12482000

12467000

-8000

70000

-70000

1000000

0.30

0.40

0.20

0.49

0.30

0.40

0.30

0.49

0.70

0.60

0.80

0.51

0.70

0.60

0.70

0.51

-14194000

-29469000

-11724000

-7302000

26678000

40249000

19311000

22236000

1313000

-25000

690000

1255000

1313000

19166000

22206000

6106000

6103000

12801000

12482000

14885000

15478000

32002000

37645000

9828000

10132000

38616000

38594000

-76000

-2625000

-43000

-1084000

-16000

-401000

-33000

-1541000

-12000

-570000

-48000

-1654000

-28000

-971000

11431000

20603000

1533000

1816000

41875000

44130000

-1110000

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-7000

-20000

32800000

24765000

5240000

5545000

3233000

5557000

341000

1758000

506000

11137000

7558000

300000

1705000

137000

100000

0.01

18736000

15982000

223000

253000

19267000

549000

1164000

1083000

2989000

2210000

20541000

24239000

170893000

109062000

210463000

25454000

47079000

219457000

216080000

145000

659000

8555000

8798000

92876000

109616000

401377000

59123000

164047000

178193000

12750000

54721000

68000

604000

3730000

164047000

178193000

23629000

22758000

12750000

432284000

62565000

162333000

197287000

21614000

57887000

75000

671000

3932000

162333000

197287000

25426000

25624000

21614000

22614000

25359000

2190000

2264000

<div> <div style="margin-left:0pt;margin-right:0pt;">     2.   Significant Accounting Policies   Noncontrolling Interests   Papa John’s has joint ventures in which there are noncontrolling interests, including the following as of March 29, 2015 and March 30, 2014:                                                                                                                                                                                                           <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 86.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:25.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Number of Restaurants </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Restaurant Locations </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Papa John’s Ownership </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Noncontrolling Interest Ownership </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> March 29, 2015 </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Texas </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>56  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Maryland and Virginia </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Minnesota </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Colorado </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="bottom" style="width:25.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> March 30, 2014 </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Texas </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Maryland and Virginia </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>70  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34  </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;padding:0pt;"> Minnesota </td> <td valign="bottom" style="width:02.88%;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80  </td> <td valign="bottom" style="width:02.88%;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20  </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:25.00%;background-color: #CCEEFF;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:20.76%;background-color: #CCEEFF;padding:0pt;"> Colorado </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60  </td> <td valign="bottom" style="width:02.88%;background-color: #CCEEFF;padding:0pt;"> % </td> <td valign="bottom" style="width:13.86%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40  </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> </table></div>   We are required to report consolidated net income at amounts attributable to the Company and the noncontrolling interests. Additionally, disclosures are required to clearly identify and distinguish between the interests of the Company and the interests of the noncontrolling owners, including a disclosure on the face of the condensed consolidated statements of income attributable to the noncontrolling interest holder.   The income before income taxes attributable to these joint ventures for the three months ended March 29, 2015 and March 30, 2014 was as follows (in thousands):                                                                                                                                                                                                                 <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 73.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;"> March 29, </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;"> March 30, </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2015 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 2014 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.12%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;background-color: #CCEEFF;padding:0pt;"> Papa John’s International, Inc. </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,010  </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,848  </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;padding:0pt;"> Noncontrolling interests </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,003  </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,230  </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.12%;background-color: #CCEEFF;padding:0pt;"> Total income before income taxes </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,013  </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:15.06%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,078  </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   The following summarizes the redemption feature, location within the condensed consolidated balance sheets and the value at which the noncontrolling interests are recorded for each joint venture as of March 29, 2015:                                                                                                                                                                                                                 <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;"> <tr> <td valign="bottom" style="width:23.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Joint Venture </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:22.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Redemption Feature </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:31.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Location within the Condensed Consolidated Balance Sheets </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Recorded Value </td> </tr> <tr> <td valign="top" style="width:23.24%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:23.24%;background-color: #CCEEFF;padding:0pt;"> Star Papa, LP </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:22.48%;background-color: #CCEEFF;padding:0pt;"> Redeemable </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:31.00%;background-color: #CCEEFF;padding:0pt;"> Temporary equity </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:16.58%;background-color: #CCEEFF;padding:0pt;"> Carrying value </td> </tr> <tr> <td valign="top" style="width:23.24%;padding:0pt;"> PJ Denver, LLC </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;padding:0pt;"> Redeemable </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;padding:0pt;"> Temporary equity </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;padding:0pt;"> Redemption value </td> </tr> <tr> <td valign="top" style="width:23.24%;background-color: #CCEEFF;padding:0pt;"> Colonel’s Limited, LLC </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:22.48%;background-color: #CCEEFF;padding:0pt;"> No redemption feature </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:31.00%;background-color: #CCEEFF;padding:0pt;"> Permanent equity </td> <td valign="bottom" style="width:02.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="top" style="width:16.58%;background-color: #CCEEFF;padding:0pt;"> Carrying value </td> </tr> <tr> <td valign="top" style="width:23.24%;padding:0pt;"> PJ Minnesota, LLC </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:22.48%;padding:0pt;"> No redemption feature </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:31.00%;padding:0pt;"> Permanent equity </td> <td valign="bottom" style="width:02.24%;padding:0pt;">   </td> <td valign="top" style="width:16.58%;padding:0pt;"> Carrying value </td> </tr> </table></div>   The noncontrolling interest holders of two joint ventures have the option to require the Company to purchase their interests. Since redemption of the noncontrolling interests is outside of the Company’s control, the noncontrolling interests are presented in the caption “Redeemable noncontrolling interests” in the condensed consolidated balance sheets and include the following joint ventures:   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"></td><td valign="top" align="left" style="width: 00.00pt; display: inline;"> · </td><td style="width:18pt;"></td><td align="left" valign="top"> The Star Papa, LP agreement contains a redemption feature that is not currently redeemable, but it is probable to become redeemable in the future. Due to specific valuation provisions contained in the agreement, this noncontrolling interest has been recorded at its carrying value.</td></tr></table></div>   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"></td><td valign="top" align="left" style="width: 00.00pt; display: inline;"> · </td><td style="width:18pt;"></td><td align="left" valign="top"> The PJ Denver, LLC agreement contains a redemption feature that is currently redeemable and, therefore, this noncontrolling interest has been recorded at its current redemption value. The change in redemption value is recorded as an adjustment to “Redeemable noncontrolling interests” and “Retained earnings” in the condensed consolidated balance sheets.</td></tr></table></div>   The following summarizes changes in these redeemable noncontrolling interests (in thousands):                                                                                                                                                                                                                 <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 56.00%;margin-left:0pt;"> <tr> <td valign="top" style="width:72.64%;background-color: #CCEEFF;padding:0pt;"> Balance at December 28, 2014 </td> <td valign="bottom" style="width:04.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:19.88%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,555 </td> <td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:72.64%;padding:0pt;"> Net income </td> <td valign="bottom" style="width:04.42%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:21.18%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,313 </td> <td valign="bottom" style="width:01.76%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:72.64%;background-color: #CCEEFF;padding:0pt;"> Distributions </td> <td valign="bottom" style="width:04.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:21.18%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,000 </td> <td valign="bottom" style="width:01.76%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:72.64%;padding:0pt;"> Change in redemption value </td> <td valign="bottom" style="width:04.42%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:21.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(70 </td> <td valign="bottom" style="width:01.76%;"> ) </td> </tr> <tr> <td valign="top" style="width:72.64%;background-color: #CCEEFF;padding:0pt;"> Balance at March 29, 2015 </td> <td valign="bottom" style="width:04.42%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:19.88%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,798 </td> <td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   The noncontrolling interests of our Colonel’s Limited, LLC and PJ Minnesota, LLC joint ventures are recorded at carrying value in “Stockholders’ equity” in the condensed consolidated balance sheets at both March 29, 2015 and December 28, 2014, as the noncontrolling interest holders’ agreements had no redemption features.   Deferred Income Tax Accounts and Tax Reserves   We are subject to income taxes in the United States and several foreign jurisdictions. Significant judgment is required in determining our provision for income taxes and the related assets and liabilities. The provision for income taxes includes income taxes paid, currently payable or receivable and those deferred. We use an estimated annual effective rate based on expected annual income to determine our quarterly provision for income taxes. Discrete items are recorded in the quarter in which they occur.   Deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities and are measured using enacted tax rates and laws that are expected to be in effect when the differences reverse. Deferred tax assets are also recognized for the estimated future effects of tax loss carryforwards. The effect on deferred taxes of changes in tax rates is recognized in the period in which the new tax rate is enacted. As a result, our effective tax rate may fluctuate. Valuation allowances are established when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts we expect to realize. As of March 29, 2015, we had a net deferred tax liability of approximately $9.0 million.   Tax authorities periodically audit the Company. We record reserves and related interest and penalties for identified exposures as income tax expense. We evaluate these issues on a quarterly basis to adjust for events, such as statute of limitations expirations, court rulings or audit settlements, which may impact our ultimate payment for such exposures.   Fair Value Measurements and Disclosures   The Company is required to determine the fair value of financial assets and liabilities based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. Fair value is a market-based measurement, not an entity specific measurement. The fair value of certain assets and liabilities approximates carrying value because of the short-term nature of the accounts, including cash, accounts receivable and accounts payable. The fair value of our notes receivable net of allowances also approximates carrying value. The fair value of the amount outstanding under our revolving credit facility approximates its carrying value due to its variable market-based interest rate. These assets and liabilities are categorized as Level 1 as defined below.   Certain assets and liabilities are measured at fair value on a recurring basis and are required to be classified and disclosed in one of the following categories:   <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"></td><td valign="top" align="left" style="width: 00.00pt; display: inline;"> · </td><td style="width:18pt;"></td><td align="left" valign="top"> Level 1: Quoted market prices in active markets for identical assets or liabilities.</td></tr></table></div> <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"></td><td valign="top" align="left" style="width: 00.00pt; display: inline;"> · </td><td style="width:18pt;"></td><td align="left" valign="top"> Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.</td></tr></table></div> <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:18pt;"></td><td valign="top" align="left" style="width: 00.00pt; display: inline;"> · </td><td style="width:18pt;"></td><td align="left" valign="top"> Level 3: Unobservable inputs that are not corroborated by market data.</td></tr></table></div>   Our financial assets and liabilities that were measured at fair value on a recurring basis as of March 29, 2015 and December 28, 2014 are as follows (in thousands):                                                                                                                                                                                                               <div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;"> <tr> <td valign="bottom" style="width:47.80%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> Carrying </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="8" valign="bottom" style="width:35.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fair Value Measurements </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:47.80%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Value </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Level 1 </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Level 2 </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Level 3 </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:47.80%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;background-color: #CCEEFF;padding:0pt;"> March 29, 2015 </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;padding:0pt;"> Financial assets: </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;background-color: #CCEEFF;padding:0pt;"> Cash surrender value of life insurance policies (a) </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,806  </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,806  </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:47.80%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;background-color: #CCEEFF;padding:0pt;"> Financial liabilities: </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;padding:0pt;"> Interest rate swaps (b) </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,470  </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,470  </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:47.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;padding:0pt;"> December 28, 2014 </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;background-color: #CCEEFF;padding:0pt;"> Financial assets: </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;padding:0pt;"> Cash surrender value of life insurance policies (a) </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,238  </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,238  </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.70%;padding:0pt;"> — </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:47.80%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;padding:0pt;"> Financial liabilities: </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.78%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.08%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:47.80%;background-color: #CCEEFF;padding:0pt;"> Interest rate swaps (b) </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>376  </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>376  </td> <td valign="bottom" style="width:02.78%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>     <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"></td><td valign="top" align="left" style="width: 18.00pt; display: inline;"> (a) </td><td style="width:0pt;"></td><td align="left" valign="top"> Represents life insurance policies held in our non-qualified deferred compensation plan.</td></tr></table></div> <div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"></td><td valign="top" align="left" style="width: 18.00pt; display: inline;"> (b) </td><td style="width:0pt;"></td><td align="left" valign="top"> The fair value of our interest rate swaps are based on the sum of all future net present value cash flows. The future cash flows are derived based on the terms of our interest rate swaps, as well as considering published discount factors, and projected London Interbank Offered Rates (“LIBOR”).</td></tr></table></div>   There were no transfers among levels within the fair value hierarchy during the three months ended March 29, 2015.   Variable Interest Entity   Papa John’s domestic restaurants, both Company-owned and franchised, participate in Papa John’s Marketing Fund, Inc. (“PJMF”), a nonstock corporation designed to operate at break-even for the purpose of designing and administering advertising and promotional programs for all participating domestic restaurants. PJMF is a variable interest entity as it does not have sufficient equity to fund its operations without ongoing financial support and contributions from its members. Based on the ownership and governance structure and operating procedures of PJMF, we have determined that we do not have the power to direct the most significant activities of PJMF and therefore are not the primary beneficiary. Accordingly, we determined that consolidation of PJMF is not appropriate.   Revenue from Contract with Customers   In May 2014, the Financial Accounting Standards Board issued “Revenue from Contracts with Customers” (Accounting Standards Update (“ASU”) 2014-09), a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP. This update requires companies to recognize revenue at amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services at the time of transfer. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. Such estimates may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Companies can either apply a full retrospective adoption or a modified retrospective adoption.   We are required to adopt the new requirements in the first quarter of 2017; however, the Financial Accounting Standards Board recently issued a proposal to deter the effective date and thus the Company’s adoption to the first quarter of 2018. We are evaluating the method of adoption and its impact of the new requirements on our consolidated financial statements. We currently do not believe the impact will be significant. </div> </div>

86233000

80834000

98715000

93301000

9637000

9804000

3549000

3879000

155659000

177216000

137000

100000

42696000

40510000

41778000

39827000

Amounts reclassified out of accumulated other comprehensive income (“AOCI”) into net interest (expense) income included $394 and $249 for the three months ended March 29, 2015 and March 30, 2014, respectively. The income tax effects of amounts reclassified out of AOCI into net interest (expense) income were $146 and $92 for the three months ended March 29, 2015 and March 30, 2014, respectively.