Commitments and Contingencies (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Commitments and Contingencies Disclosure [Abstract] |
|
| Schedule of Supplemental Balance Sheet Information Related to Leases |
Supplemental
balance sheet information related to leases was as follows:
| Operating Leases |
|
Classification |
|
September 30, 2019 |
|
| Right-of-use assets* |
|
Operating lease assets |
|
$ |
14,524,463 |
|
| |
|
|
|
|
|
|
| Current lease liabilities* |
|
Current operating lease liabilities |
|
|
3,240,833 |
|
| Non-current lease liabilities* |
|
Long-term operating lease liabilities |
|
|
15,909,551 |
|
| |
|
|
|
$ |
19,150,384 |
|
*Excludes
South Africa as those amounts are recorded as assets and liabilities held for sale at September 30, 2019.
|
| Schedule of Lease Term and Discount Rate |
Lease
term and discount rate were as follows:
| |
|
September 30, 2019 |
|
| Weighted average remaining lease term (years) |
|
|
9.32 |
|
| Weighted average discount rate |
|
|
10 |
% |
|
| Schedule of Components of Lease Cost |
The
components of lease cost were as follows:
| |
|
Classification |
|
Nine Months ended September 30, 2019 |
|
| Operating lease cost |
|
Restaurant operating expenses and Restaurant pre-opening and closing expenses |
|
$ |
2,912,220 |
|
| Variable lease cost |
|
Restaurant operating expenses |
|
|
616,298 |
|
| |
|
|
|
$ |
3,528,518 |
|
|
| Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases |
Supplemental
disclosures of cash flow information related to leases were as follows:
| |
|
Nine Months ended September 30, 2019 |
|
| Cash paid for operating leases |
|
$ |
2,970,632 |
|
| Operating lease assets obtained in exchange for operating lease liabilities (1) |
|
|
19,822,753 |
|
|
(1) |
Amounts
for the nine months ended September 30, 2019 include the transition adjustment for the
adoption of Leases Topic 842 discussed in Note 2 to the condensed consolidated financial
statements. |
|
| Schedule of Operating Lease Liability Maturity |
Maturities
of lease liabilities were as follows as of September 30, 2019:
| |
|
Operating Leases |
|
| November 1, 2019 - October 31, 2020 |
|
$ |
3,454,966 |
|
| November 1, 2020 - October 31, 2021 |
|
|
3,441,120 |
|
| November 1, 2021 - October 31, 2022 |
|
|
3,380,104 |
|
| November 1, 2022 - October 31, 2023 |
|
|
2,987,258 |
|
| November 1, 2023 - October 31, 2024 |
|
|
2,372,377 |
|
| Thereafter |
|
|
13,592,954 |
|
| Total lease payments |
|
|
29,228,779 |
|
| Less: imputed interest |
|
|
10,078,395 |
|
| Present value of lease liabilities |
|
$ |
19,150,384 |
|
|